Brick Quadplex With
For Sale
$325,000
Pending
1927 North Bend Rd, Cincinnati, OH 45224
Fully rented apartment property with basement storage, coin laundry, and dedicated garage parking.
Property Size3,456 SF
Days on Market18
Property Features for 1927 North Bend Rd
General Information
Standard status
Pending
Size
3,456 SF
Total Parking Spaces
4
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
2 x 1BR, 2 x 2BR
Multifamily Units
4
Additional Details
Public Transit
Yes
Amenities
coin laundry
storage
Building Details
Buildings
1
Construction
brick
Listing Agency:
Private Real Estate Collection
(513) 708-7770
Listed By:
Heather R. Herr
(513) 708-7770
Source:
Exprealty
Added: Aug 4
Changed: Aug 20
Last Checked: Aug 20 at 11:50AM
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 Private Real Estate Collection
Investment Insights
Based on property information with market context.
This brick quadplex contains 3,456 square feet and offers a mix of two one-bedroom apartments and two two-bedroom apartments. A full basement provides additional storage, while coin-operated laundry adds an on-site resident amenity. The property also includes a four-car garage and has a new heating system. All four units are currently rented.
Located at 1927 North Bend Rd in Cincinnati, the property is near College Hill Station and within reach of Downtown. A new roof was completed in 2024, and the retaining wall was recently repaired. The combination of four apartments, garage space, basement storage, and laundry creates a straightforward multifamily configuration.
Located at 1927 North Bend Rd in Cincinnati, the property is near College Hill Station and within reach of Downtown. A new roof was completed in 2024, and the retaining wall was recently repaired. The combination of four apartments, garage space, basement storage, and laundry creates a straightforward multifamily configuration.
Key Highlights
- Four‑unit brick quadplex with 3,456 SF
- Unit mix includes two one‑bedroom and two two‑bedroom apartments
- Four‑car garage included
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
$28,957
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
8.91%
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%
$579,140
$579.1K
Cap Rate 7%
$413,671
$413.7K
Cap Rate 9%
$321,744
$321.7K
Market Conditions
NOI Build-Up for 3,456 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
$44.0K $12.72/SF
− Vacancy
−$2.6K −$0.75/SF
EGI
$41.4K $11.97/SF
− OpEx
−$12.4K −$3.59/SF
NOI
$29.0K $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%
$579,140
Cap Rate 7%
$413,671
Cap Rate 9%
$321,744
Alternative Uses
Best Use
Multifamily LT 5
$413.7K
$362.0K – $482.6K
NOI $28,957 @ 7.0% cap · market cap 8.91%
Second Best
Apartment 5plus
$366.8K
$321.0K – $428.0K
NOI $25,678 @ 7.0% cap · market cap 7.90%
Theoretical Best
Office A
$687.0K
$601.1K – $801.5K
NOI $48,090 @ 7.0% cap · market cap 14.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
Explore this area
Business Placement
Demographics for 45224, OH
20,214
Population
9,886
Households
2
Avg Household Size
45
Median Age
34%
College-Educated
92%
High-School Grad
6.1 sq mi
ZIP Area
3,314
Density / Sq Mi
$57,754
Median Household Income
$39,579
Median Earnings
$895
Median Rent
$174,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fully rented apartment property with basement storage, coin laundry, and dedicated garage parking.
Where is this quadplex located?
The property is located at 1927 North Bend Rd Cincinnati, OH.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Four‑unit brick quadplex with 3,456 SF; Unit mix includes two one‑bedroom and two two‑bedroom apartments; Four‑car garage included
