Refinished Brick
New
For Sale
$275,000
172 Kinsey Avenue, Cincinnati, OH 45219
Residential Income, Cincinnati, OH
Property Size2,469 SF
Lot Size0.10 Acres
Price / SF$111.38
Days on Market3
Property Features for 172 Kinsey Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street
Window features
Vinyl Frames
High school district
Cincinnati City SD
Directions
I-71 to William Howard Taft Rd exit. Right on Auburn Ave, Left on Kinsey Ave. Property is on the left.
Subdivision
Hamilton-E01
Standard status
Active
APN
089-0003-0011-00
Size
2,469 SF
Lot size
0.10 Acres
Utilities
Heating system
Forced Air, Natural Gas
Building Details
Year built
1915
Number of units
3
Building materials
Brick
Roof type
Shingle
Listing Agency:
Redfin Corporation
(513) 718-2492
Listed By:
Sean Lohbeck
(513) 828-8852
Added: Aug 20
Last Checked: Aug 22 at 5:06PM
MLS# 1891099
Copyright © 2026 MLS of Greater Cincinnati, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,469-square-foot triplex contains three residential units: two one-bedroom apartments and one two-bedroom apartment. The second-floor two-bedroom unit has been refinished and is currently vacant, providing immediate occupancy. Brick construction, forced-air heating, natural gas service, shingle roofing, and off-street parking complete the property’s core physical features.
Built in 1915, the property occupies 0.096 acres at 172 Kinsey Avenue in Cincinnati, Ohio 45219. The unit mix offers a combination of one- and two-bedroom layouts within a compact multifamily building.
Built in 1915, the property occupies 0.096 acres at 172 Kinsey Avenue in Cincinnati, Ohio 45219. The unit mix offers a combination of one- and two-bedroom layouts within a compact multifamily building.
Key Highlights
- Three‑unit configuration with two 1‑bedroom units and one 2‑bedroom unit
- 2,469 square feet on a 0.096‑acre lot
- Refinished, vacant 2nd‑floor 2‑bedroom unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,687
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$413,740
$413.7K
Cap Rate 7%
$295,529
$295.5K
Cap Rate 9%
$229,856
$229.9K
Market Conditions
NOI Build-Up for 2,469 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$31.4K $12.72/SF
− Vacancy
−$1.9K −$0.75/SF
EGI
$29.6K $11.97/SF
− OpEx
−$8.9K −$3.59/SF
NOI
$20.7K $8.38/SF
Area
Cincinnati, OH
Vacancy
5.90%
Lease Rate
$12.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$413,740
Cap Rate 7%
$295,529
Cap Rate 9%
$229,856
Alternative Uses
Best Use
Multifamily LT 5
$295.5K
$258.6K – $344.8K
NOI $20,687 @ 7.0% cap · market cap 7.52%
Second Best
Apartment 5plus
$262.1K
$229.3K – $305.7K
NOI $18,344 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$490.8K
$429.5K – $572.6K
NOI $34,356 @ 7.0% cap · market cap 12.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,939
Businesses Nearby
Explore this area
Business Placement
Demographics for 45219, OH
20,644
Population
8,023
Households
2.6
Avg Household Size
25
Median Age
50%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
12,903
Density / Sq Mi
$35,936
Median Household Income
$12,462
Median Earnings
$1,166
Median Rent
$222,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Two one-bedroom apartments accompany a vacant, updated two-bedroom unit.
Where is this triplex located?
The property is located at 172 Kinsey Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Three‑unit configuration with two 1‑bedroom units and one 2‑bedroom unit; 2,469 square feet on a 0.096‑acre lot; Refinished, vacant 2nd‑floor 2‑bedroom unit
