4-Unit Updated
New
For Sale
$315,000
2512 Flanigan Court, Cincinnati, OH 45239
Residential Income, Cincinnati, OH
Property Size3,360 SF
Lot Size0.14 Acres
Price / SF$93.75
Days on Market2
Property Features for 2512 Flanigan Court
General Information
Property type
Residential Multi Family
Property subtype
Other
Window features
Vinyl Frames
High school district
Cincinnati City SD
Directions
Banning Rd to S. on Memory Ln to L on Flanigan Court
Subdivision
Hamilton-W09
Standard status
Active
APN
231-0001-0203-00
Size
3,360 SF
Lot size
0.14 Acres
Utilities
Heating system
Baseboard, Natural Gas
Building Details
Year built
1955
Number of units
4
Building materials
Brick
Roof type
Shingle
Listing Agency:
OwnerLand Realty, Inc.
(513) 600-2512
Listed By:
Steven Samyn
(513) 479-1324
Added: Oct 16
Last Checked: Oct 17 at 6:06AM
MLS# 1897559
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 3,360-square-foot brick quadplex, built in 1955, contains two two-bedroom apartments and two one-bedroom apartments. Kitchens have been updated with dishwashers and additional counter space. Recent improvements include a boiler, water heater, electrical system, roof, and vinyl windows. Carpet installation and interior painting are underway. The property also has a shingle roof, natural gas baseboard heat, and added insulation in the attic and garage ceiling.
The 0.142-acre property includes a newly paved parking lot. Two apartments are rented, while the remaining units are being prepared for lease.
The 0.142-acre property includes a newly paved parking lot. Two apartments are rented, while the remaining units are being prepared for lease.
Key Highlights
- Four apartments: two 2‑bedroom units and two 1‑bedroom units
- 3,360 square feet on a 0.142‑acre lot
- Kitchen updates include dishwashers and added counter space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,152
Cap Rate
8.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$563,040
$563.0K
Cap Rate 7%
$402,171
$402.2K
Cap Rate 9%
$312,800
$312.8K
Market Conditions
NOI Build-Up for 3,360 SF
Gross rent
$42.7K $12.72/SF
− Vacancy
−$2.5K −$0.75/SF
EGI
$40.2K $11.97/SF
− OpEx
−$12.1K −$3.59/SF
NOI
$28.2K $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 Rate 5%
$563,040
Cap Rate 7%
$402,171
Cap Rate 9%
$312,800
Alternative Uses
Best Use
Multifamily LT 5
$402.2K
$351.9K – $469.2K
NOI $28,152 @ 7.0% cap · market cap 8.94%
Second Best
Apartment 5plus
$356.6K
$312.1K – $416.1K
NOI $24,964 @ 7.0% cap · market cap 7.93%
Theoretical Best
Office A
$667.9K
$584.4K – $779.2K
NOI $46,754 @ 7.0% cap · market cap 14.84%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
463
Businesses Nearby
Explore this area
Business Placement
Demographics for 45239, OH
28,499
Population
12,985
Households
2.2
Avg Household Size
38
Median Age
26%
College-Educated
93%
High-School Grad
6.3 sq mi
ZIP Area
4,524
Density / Sq Mi
$58,276
Median Household Income
$37,094
Median Earnings
$949
Median Rent
$155,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Four apartments feature a two-bedroom, two one-bedroom mix and updated kitchens with dishwashers.
Where is this quadplex located?
The property is located at 2512 Flanigan Court Cincinnati, OH.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Four apartments: two 2‑bedroom units and two 1‑bedroom units; 3,360 square feet on a 0.142‑acre lot; Kitchen updates include dishwashers and added counter space
