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    Walnut Hills Triplex Investment Title is generated by Realmo AI

    2191 Victory Parkway, Cincinnati, OH 45206

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    Pending
    $399,000

    MULTI_FAMILY - Cincinnati, OH

    Property size:
    3,537 SF
    Lot size:
    0.17 Acres
    Added:
    Mar 2, 2026
    Days on Market:
    94
    Last Refresh:
    Jun 4 at 10:06 am

    Property Features for 2191 Victory Parkway

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Off Street, On Street
    Window features
    Vinyl Frames
    Interior features
    Storage Area
    Fireplace
    1
    Standard status
    Pending
    APN
    063-0004-0093-00
    Size
    3,537 SF
    Lot size
    0.17 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas

    Building Details

    Year built
    1894
    Number of units
    3
    Building materials
    Aluminum Siding, Brick
    Roof type
    Slate
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Alicia Stoughton
    Alicia Stoughton

    Listing agent Alicia Stoughton

    Listing office Keller Williams Advisors 2105 Grandin Road, Cincinnati, OH

    Listing date Mar 2, 2026

    MLS# 1870240 Listing URL

    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.

    HighLights

    • 3 fully occupied units with gross rent of $3,350/month, leased through 2026
    • Separate utilities per unit: each has its own water heater, gas furnace, and central A/C; tenants pay gas/electric
    • Owner pays water/sewer; each unit is separately metered for services
    • Year built 1894 with slate roof and aluminum siding/brick exterior
    • Off‑street and on‑street parking plus shared surface lot with multiple spots per unit
    • Detached 2‑car garage and on‑site fireplace

    Overview

    Located in the historic Walnut Hills neighborhood, this multifamily property features three fully occupied units. The property is leased into 2026, generating a gross monthly rent of $3,350. Each unit is individually metered and equipped with its own water heater, gas furnace, and central air conditioning. Tenants are responsible for gas and electric utilities, while the owner covers water and sewer expenses. A shared surface parking lot provides multiple parking spaces for each unit, and a detached two-car garage is included. The property size is 3,537 square feet, situated on a 0.171-acre lot.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $45.0k $12.72
    − Vacancy −$2.7k −$0.75
    EGI $42.3k $11.97
    − OpEx −$12.7k −$3.59
    NOI $29.6k $8.38
    3,537 SF · lease $12.72/SF/yr · vacancy 5.90% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $423.4K
    $370.4K – $493.9K (±1% cap)
    NOI $29,635 @ 7.0% cap · market cap 7.43%
    Second Best
    Apartment 5plus
    $375.4K
    $328.5K – $438.0K (±1% cap)
    NOI $26,279 @ 7.0% cap · market cap 6.59%
    Theoretical Best
    Office A
    $703.1K
    $615.2K – $820.3K (±1% cap)
    NOI $49,217 @ 7.0% cap · market cap 12.34%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cincinnati
    County
    Clermont
    State
    Ohio
    Longitude
    -84.486039
    Latitude
    39.120534

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    FAQs

    What type of property is this?
    Triplex - Three fully occupied units in historic Walnut Hills neighborhood.
    Where is this triplex located?
    The property is located at 2191 Victory Parkway Cincinnati, OH.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: 3 fully occupied units with gross rent of $3,350/month, leased through 2026; Separate utilities per unit: each has its own water heater, gas furnace, and central A/C; tenants pay gas/electric; Owner pays water/sewer; each unit is separately metered for services
    (513) 766-9200
    We can help!
    Listing Contact
    Alicia Stoughton
    Alicia Stoughton
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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