Four-Unit Brick
For Sale
$530,000
Pending
2122 Slane Avenue, Norwood, OH 45212
Residential Income, Norwood, OH
Property Size4,328 SF
Lot Size0.12 Acres
Days on Market32
Property Features for 2122 Slane Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street, Garage
Window features
Wood Frames, Vinyl Frames
Patio and Porch features
Patio, Porch
Interior features
Storage Area
Exterior features
Patio, Porch, Wood Fence
Fencing
Wood
Fireplace
1
High school district
Norwood City SD
Directions
Williams to Floral to Left on Slane Ave. or Montgomery to Slane Ave.
Subdivision
Hamilton-E02
Standard status
Pending
APN
651-0033-0017-00
Size
4,328 SF
Lot size
0.12 Acres
Utilities
Heating system
Heat Pump (Heating), Natural Gas
Amenities
high ceilings
gas stove
refrigerator
dishwasher
Building Details
Year built
1925
Number of units
4
Building materials
Brick
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Real of Ohio
(330) 807-1303
Listed By:
John Galligan · License #248321OH0000448265
(440) 391-1650
Added: Aug 14
Changed: Sep 12
Last Checked: Sep 14 at 11:06PM
MLS# 1890540
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.
Built in 1925, this brick quadplex contains four apartments, each configured with two bedrooms and one full bathroom. Interior features include high ceilings, gas stoves, refrigerators, dishwashers, and storage areas. Separate utilities serve the units, while heat pump and natural gas systems provide heating. The property also includes a shingle roof, fireplace, wood fencing, a patio, and a porch.
The 0.124-acre site offers a combination of garage and on-street parking. Located in Norwood, Ohio, the building provides a four-unit residential income configuration with established long-term tenants in place.
The 0.124-acre site offers a combination of garage and on-street parking. Located in Norwood, Ohio, the building provides a four-unit residential income configuration with established long-term tenants in place.
Key Highlights
- Four‑unit residential property with 2‑bedroom, 1‑bathroom apartments
- 4,328 square feet on a 0.124‑acre lot
- Built in 1925 with brick construction and a shingle roof
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
$40,836
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
7.70%
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%
$816,720
$816.7K
Cap Rate 7%
$583,371
$583.4K
Cap Rate 9%
$453,733
$453.7K
Market Conditions
NOI Build-Up for 4,328 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
$61.8K $14.28/SF
− Vacancy
−$3.5K −$0.80/SF
EGI
$58.3K $13.48/SF
− OpEx
−$17.5K −$4.04/SF
NOI
$40.8K $9.44/SF
Area
Hamilton County, OH
Vacancy
5.61%
Lease Rate
$14.28 /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%
$816,720
Cap Rate 7%
$583,371
Cap Rate 9%
$453,733
Alternative Uses
Best Use
Multifamily LT 5
$583.4K
$510.5K – $680.6K
NOI $40,836 @ 7.0% cap · market cap 7.70%
Second Best
Apartment 5plus
$533.7K
$467.0K – $622.7K
NOI $37,362 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$775.9K
$678.9K – $905.3K
NOI $54,315 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,001
Businesses Nearby
Explore this area
Business Placement
Demographics for 45212, OH
21,885
Population
11,027
Households
2
Avg Household Size
33
Median Age
38%
College-Educated
90%
High-School Grad
3.7 sq mi
ZIP Area
5,915
Density / Sq Mi
$63,698
Median Household Income
$43,413
Median Earnings
$932
Median Rent
$229,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Two-bedroom apartments with separate utilities, appliance packages, porches, patios, and access to garage and street parking.
Where is this quadplex located?
The property is located at 2122 Slane Avenue Norwood, OH.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Four‑unit residential property with 2‑bedroom, 1‑bathroom apartments; 4,328 square feet on a 0.124‑acre lot; Built in 1925 with brick construction and a shingle roof
