Four-Unit Short-Term Rental
New
For Sale
$510,000
1226 Bates Avenue, Cincinnati, OH 45225
Residential Income, Cincinnati, OH
Property Size5,456 SF
Lot Size0.12 Acres
Price / SF$93.48
Days on Market1
Property Features for 1226 Bates Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street, Driveway
Window features
Vinyl Frames, Wood Frames
Fireplace
1
High school district
Cincinnati City SD
Directions
From Colerain Ave to Bates.
Subdivision
Hamilton-W05
Standard status
Active
APN
189-0024-0027-00
Size
5,456 SF
Lot size
0.12 Acres
Utilities
Heating system
Forced Air, Natural Gas
Amenities
courtyard
Building Details
Year built
1886
Number of units
4
Building materials
Aluminum Siding
Roof type
Shingle
Listing Agency:
Keller Williams Advisors · Keller Williams Realty
(513) 874-3300
Listed By:
Maurie Hornsby
(513) 766-9200
Added: Oct 22
Last Checked: Oct 22 at 11:06PM
MLS# 1898056
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.
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Investment Insights
Based on property information with market context.
At 1226 and 1228 Bates Avenue, two buildings provide 5,456 square feet across four private units on a 0.123-acre parcel. The mix includes three 2-bedroom homes and one 3-bedroom home, each with its own entrance. Renovated interiors include updated kitchens, bathrooms, laundry, and flexible living areas. Built in 1886, the property has aluminum siding, a shingle roof, forced-air natural gas heat, and a fireplace. A shared courtyard and driveway connect the buildings, with six parking spaces. The property is currently operated as short-term rentals.
The buildings are in Cincinnati’s Camp Washington area, just off Colerain. Mom 'n 'em Coffee and Camp Washington Chili are nearby, and downtown, the University of Cincinnati, and hospitals are close at hand.
The buildings are in Cincinnati’s Camp Washington area, just off Colerain. Mom 'n 'em Coffee and Camp Washington Chili are nearby, and downtown, the University of Cincinnati, and hospitals are close at hand.
Key Highlights
- Two buildings contain four private units: three 2‑bedroom homes and one 3‑bedroom home
- 5,456 square feet on a 0.123‑acre parcel
- Separate private entrance for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,714
Cap Rate
8.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$914,280
$914.3K
Cap Rate 7%
$653,057
$653.1K
Cap Rate 9%
$507,933
$507.9K
Market Conditions
NOI Build-Up for 5,456 SF
Gross rent
$69.4K $12.72/SF
− Vacancy
−$4.1K −$0.75/SF
EGI
$65.3K $11.97/SF
− OpEx
−$19.6K −$3.59/SF
NOI
$45.7K $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 Rate 5%
$914,280
Cap Rate 7%
$653,057
Cap Rate 9%
$507,933
Alternative Uses
Best Use
Multifamily LT 5
$653.1K
$571.4K – $761.9K
NOI $45,714 @ 7.0% cap · market cap 8.96%
Second Best
Apartment 5plus
$579.1K
$506.7K – $675.6K
NOI $40,537 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$1.08M
$949.0K – $1.27M
NOI $75,920 @ 7.0% cap · market cap 14.89%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
770
Businesses Nearby
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Business Placement
Demographics for 45225, OH
8,006
Population
4,694
Households
1.7
Avg Household Size
28
Median Age
9%
College-Educated
79%
High-School Grad
2.9 sq mi
ZIP Area
2,761
Density / Sq Mi
$22,320
Median Household Income
$20,948
Median Earnings
$639
Median Rent
$108,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Short term rental property - Two renovated buildings offer four separately entered units, with shared outdoor space and driveway parking.
Where is this short term rental property located?
The property is located at 1226 Bates Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Two buildings contain four private units: three 2‑bedroom homes and one 3‑bedroom home; 5,456 square feet on a 0.123‑acre parcel; Separate private entrance for each unit
