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    Brick Four-Unit Rental Building Title is generated by Realmo AI

    6431 Hammel Avenue, Cincinnati, OH 45237

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    New
    For Sale
    $424,900

    MULTI_FAMILY - Cincinnati, OH

    Lot size:
    0.14 Acres
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 1:06 pm

    Property Features for 6431 Hammel Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Off Street, Driveway
    Window features
    Aluminum Frames
    Patio and Porch features
    Deck
    Exterior features
    Deck
    Standard status
    Active
    APN
    528-0003-0685-00
    Lot size
    0.14 Acres

    Utilities

    Heating system
    Hot Water(Heating), Natural Gas

    Building Details

    Year built
    1961
    Number of units
    4
    Building materials
    Brick
    Roof type
    Shingle

    We can help!

    Listing Contact
    Mark Mcgrath
    Mark Mcgrath

    Listing agent Mark Mcgrath

    Listing office Home Information Network, Inc. 9330 Kenwood Rd., Cincinnati, OH

    Listing date Jun 2, 2026

    MLS# 1881409 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

    • Brick 4‑family building built in 1961 with two 2‑BR and two 1‑BR apartments
    • Recently updated large units with a floor plan designed for apartment living
    • Parking includes a driveway with off‑street spaces and a total of 4 covered parking spaces
    • Heated with natural gas hot water heat; owner pays heat and water
    • Roof is shingle; off‑street parking with storage and 2 garage doors with automatic openers
    • Unit #1 includes a private deck off the bedroom; exterior deck and driveway off‑street parking

    Overview

    Brick four-unit rental building featuring two two-bedroom apartments and two one-bedroom apartments. The larger units have been recently updated and include a practical, tenant-friendly floor plan. Several owner-paid utilities are in place, with the owner paying heat and water. Exterior improvements include two new garage doors with automatic openers, and there is storage available. Unit #1 also features a private deck off the bedroom, adding a distinct outdoor element within the building.

    The property is located on a residential street in Cincinnati, OH, at 6431 Hammel Avenue (45237). The site provides four covered parking spaces, supporting day-to-day convenience for tenants.

    Designed for investors seeking an easy-to-rent, easy-to-show configuration, this building’s mix of two-bed and one-bed units can appeal to a range of household types. With recent updates to the larger units, an operator may be well-positioned to attract and retain tenants while keeping operating costs more manageable, given that heat and water are covered by the owner. Overall, the layout and parking make it a practical option for an owner-operator or rental buyer looking for a straightforward multi-family asset.
    Property Profile Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Cincinnati
    County
    Clermont
    State
    Ohio
    Longitude
    -84.446321
    Latitude
    39.189152

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    FAQs

    What type of property is this?
    Multifamily property - Four apartments with updated interiors and covered parking, positioned on a residential street for straightforward leasing and ownership.
    Where is this multifamily property located?
    The property is located at 6431 Hammel Avenue Cincinnati, OH.
    What is the asking price?
    The asking price for this property is $424,900.
    What are key features of this property?
    This property features: Brick 4‑family building built in 1961 with two 2‑BR and two 1‑BR apartments; Recently updated large units with a floor plan designed for apartment living; Parking includes a driveway with off‑street spaces and a total of 4 covered parking spaces
    (513) 793-3999
    We can help!
    Listing Contact
    Mark Mcgrath
    Mark Mcgrath
    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.

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