Updated Three-Unit
204 Washington Street, New Richmond, OH 45157
For Sale
$275,000
Residential Income, New Richmond, OH
Property Size2,538 SF
Lot Size0.17 Acres
Price / SF$108.35
Days on Market146
Property Features for 204 Washington Street
General Information
Property type
Property subtype
Parking features
Window features
Patio and Porch features
Exterior features
High school district
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Utilities
Heating system
Building Details
Year built
Number of units
Building materials
Roof type
Buildings
Listing Agency:
Ring Real Estate Co., Georgeto
Listed By:
Brittany Howard
(937) 378-3800
Added: Jun 15
Changed: Oct 24
Last Checked: Nov 7 at 12:06AM
MLS# 1883209
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.
This 2,538-square-foot triplex contains three residential units: two one-bedroom apartments on the lower level and a larger two-bedroom apartment upstairs. Units 206 and 208 have been updated and include individual laundry hookups. The 1919 building has brick and vinyl siding, a shingle roof, forced-air and electric heating, baseboard heat, a porch, and off-street parking.
Recent property improvements include a roof and gutter replacement completed in 2020, along with replacement windows and a water heater in 2024. The property is fully occupied and sits on a 0.173-acre lot at 204 Washington Street in New Richmond, Ohio.
Recent property improvements include a roof and gutter replacement completed in 2020, along with replacement windows and a water heater in 2024. The property is fully occupied and sits on a 0.173-acre lot at 204 Washington Street in New Richmond, Ohio.
Key Highlights
- Three‑unit triplex with two one‑bedroom units and one two‑bedroom unit
- 2,538 square feet on a 0.173‑acre lot
- Units 206 and 208 recently updated with individual laundry hookups
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
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
NOI $27,414 @ 7.0% cap · market cap 9.97%
Second Best
Apartment 5plus
$341.0K
$298.4K – $397.8K
NOI $23,870 @ 7.0% cap · market cap 8.68%
Theoretical Best
Office A
$455.0K
$398.1K – $530.9K
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
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Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
186
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied multifamily property with varied unit layouts, recent improvements, and off-street parking.
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‑unit triplex with two one‑bedroom units and one two‑bedroom unit; 2,538 square feet on a 0.173‑acre lot; Units 206 and 208 recently updated with individual laundry hookups
