Updated
New
For Sale
$390,000
116 Parker Street, Cincinnati, OH 45219
Three-unit property with refreshed kitchens, flooring, fixtures, and bathrooms.
Property Size3,120 SF
Price / SF$125
Days on Market5
Property Features for 116 Parker Street
General Information
Standard status
Active
Size
3,120 SF
Property subtype
Multi-Family
Financials
Cap Rate
9.8%
Gross Rent Multiplier
7.7
Additional Details
Multifamily Units
3
Building Details
Year Built
1895
Listing Agency:
Keller Williams Advisors (513-766-9200)
Listed By:
Tami Holmes · License #2005015284
(937) 506-8360
Source:
Tami-holmes
Added: Sep 19
Changed: Sep 23
Last Checked: Sep 22 at 4:46PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Advisors (513-766-9200)
Investment Insights
Based on property information with market context.
This three-unit property contains 3,120 square feet and was built in 1895. Interior improvements include updated kitchens, flooring, fixtures, and bathrooms, providing refreshed finishes across the residential units.
Located at 116 Parker Street in Cincinnati, Ohio, the property offers a multifamily configuration with three units. Financial metrics include a 9.8% cap rate, 14% cash-on-cash return, and 7.7 GRM.
Located at 116 Parker Street in Cincinnati, Ohio, the property offers a multifamily configuration with three units. Financial metrics include a 9.8% cap rate, 14% cash-on-cash return, and 7.7 GRM.
Key Highlights
- Three‑unit multifamily property
- 3,120 square feet
- Updated kitchens, flooring, fixtures, and bathrooms
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
$26,141
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
6.70%
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%
$522,820
$522.8K
Cap Rate 7%
$373,443
$373.4K
Cap Rate 9%
$290,456
$290.5K
Market Conditions
NOI Build-Up for 3,120 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
$39.7K $12.72/SF
− Vacancy
−$2.3K −$0.75/SF
EGI
$37.3K $11.97/SF
− OpEx
−$11.2K −$3.59/SF
NOI
$26.1K $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%
$522,820
Cap Rate 7%
$373,443
Cap Rate 9%
$290,456
Alternative Uses
Best Use
Multifamily LT 5
$373.4K
$326.8K – $435.7K
NOI $26,141 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$331.2K
$289.8K – $386.4K
NOI $23,181 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$620.2K
$542.7K – $723.6K
NOI $43,415 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,634
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with refreshed kitchens, flooring, fixtures, and bathrooms.
Where is this triplex located?
The property is located at 116 Parker Street Cincinnati, OH.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Three‑unit multifamily property; 3,120 square feet; Updated kitchens, flooring, fixtures, and bathrooms
