Updated Four-Unit Apartment
New
For Sale
$315,000
2512 Flanigan Court, Cincinnati, OH 45239
The property combines two two-bedroom residences with two one-bedroom residences and a newly paved parking area.
Property Size3,360 SF
Price / SF$93.75
Days on Market2
Property Features for 2512 Flanigan Court
General Information
Standard status
Active
Size
3,360 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR, 2 x 1BR
Multifamily Units
4
Building Details
Year Built
1955
Buildings
1
Listing Agency:
Huff Realty (513-574-2300)
Listed By:
Tami Holmes · License #2005015284
(937) 506-8360
Source:
Tami-holmes
Added: Oct 19
Last Checked: Oct 19 at 2:32PM
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 Huff Realty (513-574-2300)
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Investment Insights
Based on property information with market context.
This 3,360-square-foot quadplex contains two two-bedroom units and two one-bedroom units. Kitchens have been updated with dishwashers and additional counter space. Improvements include a replacement boiler, water heater, electrical system, roof, and vinyl windows. New carpet installation and interior painting are underway, while added insulation is present in the attic and garage ceiling.
A newly paved parking lot serves the building at 2512 Flanigan Court in Cincinnati. The property was built in 1955.
A newly paved parking lot serves the building at 2512 Flanigan Court in Cincinnati. The property was built in 1955.
Key Highlights
- Four units: two 2‑bedroom and two 1‑bedroom residences
- 3,360 square feet; built in 1955
- Updated kitchens include dishwashers and expanded 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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Property Analytics
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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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - The property combines two two-bedroom residences with two one-bedroom residences and a newly paved parking area.
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 units: two 2‑bedroom and two 1‑bedroom residences; 3,360 square feet; built in 1955; Updated kitchens include dishwashers and expanded counter space
