3-Unit
For Sale
$317,900
2462 Fairview Avenue, Cincinnati, OH 45219
Residential Income, Cincinnati, OH
Property Size2,495 SF
Lot Size0.06 Acres
Price / SF$127.41
Days on Market186
Property Features for 2462 Fairview Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Window features
Wood Frames, Vinyl Frames
Patio and Porch features
Porch, Patio
Exterior features
Patio, Porch, Metal Fence
Fencing
Fenced
High school district
Cincinnati City SD
Directions
Mcmillian to Fairview
Subdivision
Hamilton-E01
Standard status
Active
APN
098-0006-0047-00
Size
2,495 SF
Lot size
0.06 Acres
Utilities
Heating system
Natural Gas, Forced Air
Building Details
Year built
1903
Number of units
3
Building materials
Vinyl Siding, Cedar
Roof type
Slate
Listing Agency:
Keller Williams Advisors · Keller Williams Realty
(513) 874-3300
Listed By:
Bob Daniel
(513) 766-9200
Added: Feb 18
Changed: Aug 19
Last Checked: Aug 23 at 4:06AM
MLS# 1869215
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.
This 3-unit triplex at 2462 Fairview Avenue in Cincinnati is positioned for straightforward showings, with one unit currently vacant. The third-floor unit pays its own heat and electric. The property includes on-street parking and outdoor space with a patio and porch, plus fencing.
Built in 1903, the home features natural gas forced-air heating and a slate roof. Recent exterior improvements include siding, gutters, and the roof in 2022, with exterior paint completed in 2018.
With a small lot size of 0.058 acres and a total property size of 2,495 SF, this is a compact multi-family building designed for tenants who prefer long-term stability. The current setup reflects the existing tenancy and unit-level utilities noted above.
Built in 1903, the home features natural gas forced-air heating and a slate roof. Recent exterior improvements include siding, gutters, and the roof in 2022, with exterior paint completed in 2018.
With a small lot size of 0.058 acres and a total property size of 2,495 SF, this is a compact multi-family building designed for tenants who prefer long-term stability. The current setup reflects the existing tenancy and unit-level utilities noted above.
Key Highlights
- 3‑unit triplex with one unit vacant for showing
- Third‑floor unit pays its own heat and electric
- Siding, gutters, and roof replaced in 2022
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
$20,905
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
6.58%
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%
$418,100
$418.1K
Cap Rate 7%
$298,643
$298.6K
Cap Rate 9%
$232,278
$232.3K
Market Conditions
NOI Build-Up for 2,495 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
$31.7K $12.72/SF
− Vacancy
−$1.9K −$0.75/SF
EGI
$29.9K $11.97/SF
− OpEx
−$9.0K −$3.59/SF
NOI
$20.9K $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%
$418,100
Cap Rate 7%
$298,643
Cap Rate 9%
$232,278
Alternative Uses
Best Use
Multifamily LT 5
$298.6K
$261.3K – $348.4K
NOI $20,905 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$264.8K
$231.7K – $309.0K
NOI $18,538 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$496.0K
$434.0K – $578.6K
NOI $34,718 @ 7.0% cap · market cap 10.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,302
Businesses Nearby
Explore this area
Business Placement
Demographics for 45219, OH
20,644
Population
8,023
Households
2.6
Avg Household Size
25
Median Age
50%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
12,903
Density / Sq Mi
$35,936
Median Household Income
$12,462
Median Earnings
$1,166
Median Rent
$222,500
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-unit triplex with one unit vacant for showing and on-street parking in a quiet area.
Where is this triplex located?
The property is located at 2462 Fairview Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $317,900.
What are key features of this property?
This property features: 3‑unit triplex with one unit vacant for showing; Third‑floor unit pays its own heat and electric; Siding, gutters, and roof replaced in 2022
