Building Details

Building Size 2,538 SF

Year Built 1919

Buildings 1

Units 3

Listing Agency: Ring Real Estate Co., Georgeto Show Phone

Listed By: Brittany N Howard Show Phone

Source: Galbraithrealtors

Added: Jun 15 Changed: Oct 25 Last Checked: Oct 26 at 3:57AM

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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 Ring Real Estate Co., Georgeto

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Investment Insights

Based on property information with market context.

This 2,538-square-foot triplex contains three residences: two one-bedroom units on the ground floor and a two-bedroom unit above. Units 206 and 208 have been updated and each has a laundry hookup. The building dates to 1919.

Property improvements include a roof and gutters installed in 2020, along with windows and a water heater replaced in 2024. The property is at 204 Washington Street in New Richmond, near the Liberty Landing project.

Key Highlights

• Three units: two one‑bedroom residences downstairs and one two‑bedroom residence upstairs
• 2,538 square feet; built in 1919
• Recent updates in Units 206 and 208, each with a laundry hookup

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,870

Cap Rate

8.68%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$477,400 $477.4K

Cap Rate 7%

$341,000 $341.0K

Cap Rate 9%

$265,222 $265.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,538 SF

Gross rent

$45.7K $18.00/SF

− Vacancy

−$2.3K −$0.90/SF

EGI

$43.4K $17.10/SF

− OpEx

−$19.5K −$7.69/SF

NOI

$23.9K $9.41/SF

Area

Clermont County, OH

Vacancy

5.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$477,400

Cap Rate 7%

$341,000

Cap Rate 9%

$265,222

Alternative Uses

Best Use

Multifamily LT 5

$391.6K

$342.7K – $456.9K (±1% cap)

NOI $27,414 @ 7.0% cap · market cap 9.97%

Second Best

Apartment 5plus

$341.0K

$298.4K – $397.8K (±1% cap)

NOI $23,870 @ 7.0% cap · market cap 8.68%

Theoretical Best

Office A

$455.0K

$398.1K – $530.9K (±1% cap)

NOI $31,851 @ 7.0% cap · market cap 11.58%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

3

Residential units

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

186

Businesses Nearby

Explore this area Business Placement

Demographics for 45157, OH

9,705

Population

4,069

Households

2.4

Avg Household Size

42

Median Age

25%

College-Educated

91%

High-School Grad

41.1 sq mi

ZIP Area

236

Density / Sq Mi

$96,875

Median Household Income

$43,651

Median Earnings

$874

Median Rent

$232,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - The layout combines two one-bedroom residences with a larger two-bedroom unit, and two units include laundry hookups.

Where is this triplex located?

The property is located at 204 Washington Street New Richmond, OH.

What is the asking price?

The asking price for this property is $275,000.

What are key features of this property?

This property features: Three units: two one‑bedroom residences downstairs and one two‑bedroom residence upstairs; 2,538 square feet; built in 1919; Recent updates in Units 206 and 208, each with a laundry hookup