Brick Quadplex with
For Sale
$559,000
2122 Slane Avenue, Norwood, OH 45212
MULTI_FAMILY - Norwood, OH
Property Size4,328 SF
Lot Size0.12 Acres
Price / SF$129.16
Days on Market9
Property Features for 2122 Slane Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Garage, On Street
Window features
Vinyl Frames, Wood Frames
Patio and Porch features
Patio, Porch
Interior features
Storage Area
Exterior features
Patio, Porch, Wood Fence
Fencing
Wood
Fireplace
1
High school district
Norwood City SD
Directions
Williams to Floral to Left on Slane Ave. or Montgomery to Slane Ave.
Subdivision
Hamilton-E02
Standard status
Active
APN
651-0033-0017-00
Size
4,328 SF
Lot size
0.12 Acres
Utilities
Heating system
Natural Gas, Heat Pump (Heating)
Amenities
hardwood floors
decorative fireplaces
solariums
central air conditioning
high-efficiency furnace
coin-operated laundry
secure building entry
Building Details
Year built
1925
Number of units
4
Building materials
Brick
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Real of Ohio
(330) 807-1303
Listed By:
John Galligan · License #248321
(440) 391-1650
Added: Aug 14
Changed: Aug 18
Last Checked: Aug 22 at 4:06AM
MLS# 1890540
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.
Investment Insights
Based on property information with market context.
Built in 1925, this 4,328-square-foot brick quadplex contains four two-bedroom, one-bath apartments. The units feature hardwood floors, decorative fireplaces, and solariums, with a storage area included in the building. Each apartment has its own natural-gas furnace and central AC, while individual tenant-paid gas and electric service supports separate utility responsibility.
The 0.124-acre property includes a rear 4-carport setup, additional on-street parking, secure entry, and a coin-operated laundry facility in the basement. Exterior features include a patio, porch, wood fencing, and a shingle roof. The building is located in Norwood near Factory 52, Rookwood Exchange, Xavier University, and I-71.
The 0.124-acre property includes a rear 4-carport setup, additional on-street parking, secure entry, and a coin-operated laundry facility in the basement. Exterior features include a patio, porch, wood fencing, and a shingle roof. The building is located in Norwood near Factory 52, Rookwood Exchange, Xavier University, and I-71.
Key Highlights
- 4,328‑square‑foot brick quadplex built in 1925
- Four 2‑bedroom, 1‑bathroom units
- Each apartment has an independent high‑efficiency furnace and central AC
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
$40,836
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
7.31%
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%
$816,720
$816.7K
Cap Rate 7%
$583,371
$583.4K
Cap Rate 9%
$453,733
$453.7K
Market Conditions
NOI Build-Up for 4,328 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
$61.8K $14.28/SF
− Vacancy
−$3.5K −$0.80/SF
EGI
$58.3K $13.48/SF
− OpEx
−$17.5K −$4.04/SF
NOI
$40.8K $9.44/SF
Area
Hamilton County, OH
Vacancy
5.61%
Lease Rate
$14.28 /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%
$816,720
Cap Rate 7%
$583,371
Cap Rate 9%
$453,733
Alternative Uses
Best Use
Multifamily LT 5
$583.4K
$510.5K – $680.6K
NOI $40,836 @ 7.0% cap · market cap 7.31%
Second Best
Apartment 5plus
$533.7K
$467.0K – $622.7K
NOI $37,362 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$775.9K
$678.9K – $905.3K
NOI $54,315 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,001
Businesses Nearby
Explore this area
Business Placement
Demographics for 45212, OH
21,885
Population
11,027
Households
2
Avg Household Size
33
Median Age
38%
College-Educated
90%
High-School Grad
3.7 sq mi
ZIP Area
5,915
Density / Sq Mi
$63,698
Median Household Income
$43,413
Median Earnings
$932
Median Rent
$229,400
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 - Four two-bedroom apartments with private mechanical systems, basement laundry, and rear covered parking in Norwood.
Where is this quadplex located?
The property is located at 2122 Slane Avenue Norwood, OH.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: 4,328‑square‑foot brick quadplex built in 1925; Four 2‑bedroom, 1‑bathroom units; Each apartment has an independent high‑efficiency furnace and central AC
