Updated Furnished
For Sale
$700,000
1312 Spring St, Cincinnati, OH 45202
Three updated, furnished residences offer a flexible multifamily configuration near downtown Cincinnati amenities and transit.
Property Size3,126 SF
Price / SF$223.93
Days on Market11
Property Features for 1312 Spring St
General Information
Standard status
Active
Size
3,126 SF
Property subtype
Residential Income
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
3
Additional Details
Furnished
Yes
Building Details
Buildings
1
Listing Agency:
Keller Williams Seven Hills Re
(513) 307-5658
Listed By:
Adrienne N Shipman
(513) 307-5658
Source:
Exprealty
Added: Aug 4
Changed: Aug 14
Last Checked: Aug 14 at 6:11AM
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 Seven Hills Re
Investment Insights
Based on property information with market context.
This 3,126-square-foot triplex contains three separate residences: one two-bedroom, one-bath unit and two one-bedroom, one-bath units. The property has been updated and is being offered furnished, providing a ready-to-use multifamily asset with varied unit sizes. Its configuration supports both individual occupancy and operation as a three-unit rental property, as described in the source information.
The building is positioned on a quiet no-outlet street in Cincinnati’s downtown area. Residents have access to the bus line and Cincinnati streetcar, along with nearby dining, entertainment, and other downtown destinations. The combination of three units, furnished interiors, and transit access creates a practical layout for multifamily ownership or occupancy.
The building is positioned on a quiet no-outlet street in Cincinnati’s downtown area. Residents have access to the bus line and Cincinnati streetcar, along with nearby dining, entertainment, and other downtown destinations. The combination of three units, furnished interiors, and transit access creates a practical layout for multifamily ownership or occupancy.
Key Highlights
- 3,126‑square‑foot triplex with 3 total units
- Unit mix includes one 2‑bedroom, 1‑bath residence and two 1‑bedroom, 1‑bath residences
- Updated building offered fully furnished
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
$26,192
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
3.74%
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%
$523,840
$523.8K
Cap Rate 7%
$374,171
$374.2K
Cap Rate 9%
$291,022
$291.0K
Market Conditions
NOI Build-Up for 3,126 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
$39.8K $12.72/SF
− Vacancy
−$2.3K −$0.75/SF
EGI
$37.4K $11.97/SF
− OpEx
−$11.2K −$3.59/SF
NOI
$26.2K $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%
$523,840
Cap Rate 7%
$374,171
Cap Rate 9%
$291,022
Alternative Uses
Best Use
Multifamily LT 5
$374.2K
$327.4K – $436.5K
NOI $26,192 @ 7.0% cap · market cap 3.74%
Second Best
Apartment 5plus
$331.8K
$290.3K – $387.1K
NOI $23,226 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$621.4K
$543.7K – $725.0K
NOI $43,498 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,888
Businesses Nearby
Explore this area
Business Placement
Demographics for 45202, OH
16,883
Population
11,432
Households
1.5
Avg Household Size
34
Median Age
63%
College-Educated
91%
High-School Grad
2.7 sq mi
ZIP Area
6,253
Density / Sq Mi
$87,930
Median Household Income
$63,901
Median Earnings
$1,524
Median Rent
$444,000
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 - Three updated, furnished residences offer a flexible multifamily configuration near downtown Cincinnati amenities and transit.
Where is this triplex located?
The property is located at 1312 Spring St Cincinnati, OH.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 3,126‑square‑foot triplex with 3 total units; Unit mix includes one 2‑bedroom, 1‑bath residence and two 1‑bedroom, 1‑bath residences; Updated building offered fully furnished
