Three-Unit
For Sale
$317,900
2462 Fairview Avenue, Cincinnati, OH 45219
Residential Income, Cincinnati, OH
Property Size2,495 SF
Lot Size0.06 Acres
Price / SF$127.41
Days on Market198
Property Features for 2462 Fairview Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Window features
Vinyl Frames, Wood Frames
Patio and Porch features
Patio, Porch
Exterior features
Patio, Porch, Metal Fence
Fencing
Fenced
High school district
Cincinnati City SD
Directions
Mcmillian to Fairview
Subdivision
Hamilton-E01
Standard status
Active
APN
098-0006-0047-00
Size
2,495 SF
Lot size
0.06 Acres
Utilities
Heating system
Natural Gas, Forced Air
Building Details
Year built
1903
Number of units
3
Building materials
Vinyl Siding, Cedar
Roof type
Slate
Listing Agency:
Keller Williams Advisors · Keller Williams Realty
(513) 874-3300
Listed By:
Bob Daniel
(513) 766-9200
Added: Feb 18
Changed: Sep 2
Last Checked: Sep 4 at 9:06PM
MLS# 1869215
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 three-unit residential property includes 2,495 square feet on a 0.058-acre lot. One unit is vacant, while the occupied units have long-term tenants. The third-floor unit pays separately for heat and electric. Interior and exterior features include natural-gas forced-air heating, vinyl siding, cedar construction elements, a porch, patio, metal fence, and on-street parking. The roof is dated 2022, and exterior painting was completed in 2018.
The property is located near the University of Cincinnati and the bus district. Its setting includes on-street parking and access to nearby university and transit-related destinations.
The property is located near the University of Cincinnati and the bus district. Its setting includes on-street parking and access to nearby university and transit-related destinations.
Key Highlights
- Three‑unit residential property with 2,495 SF of building area
- 0.058‑acre lot
- One unit vacant; occupied units have long‑term tenants
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
$20,905
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
6.58%
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%
$418,100
$418.1K
Cap Rate 7%
$298,643
$298.6K
Cap Rate 9%
$232,278
$232.3K
Market Conditions
NOI Build-Up for 2,495 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
$31.7K $12.72/SF
− Vacancy
−$1.9K −$0.75/SF
EGI
$29.9K $11.97/SF
− OpEx
−$9.0K −$3.59/SF
NOI
$20.9K $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%
$418,100
Cap Rate 7%
$298,643
Cap Rate 9%
$232,278
Alternative Uses
Best Use
Multifamily LT 5
$298.6K
$261.3K – $348.4K
NOI $20,905 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$264.8K
$231.7K – $309.0K
NOI $18,538 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$496.0K
$434.0K – $578.6K
NOI $34,718 @ 7.0% cap · market cap 10.92%
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
1,302
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
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Frequently Asked Questions
What type of property is this?
Triplex - Residential income property with one vacant unit, long-term tenants, porch and patio features, and on-street parking.
Where is this triplex located?
The property is located at 2462 Fairview Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $317,900.
What are key features of this property?
This property features: Three‑unit residential property with 2,495 SF of building area; 0.058‑acre lot; One unit vacant; occupied units have long‑term tenants
