2541 Melrose Avenue, Norwood, OH 45212
MULTI_FAMILY - Norwood, OH
- Added:
- May 15, 2026
- Days on Market:
- 54
- Last Refresh:
- Jul 7 at 1:06 pm
Property Features for 2541 Melrose Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Off Street, Driveway
- Window features
- Vinyl Frames
- Fireplace
- 1
- Standard status
- Active
- APN
- 651-0030-0136-00
- Size
- 4,397 SF
- Lot size
- 0.29 Acres
Utilities
- Heating system
- Natural Gas, Hot Water(Heating)
Building Details
- Year built
- 1910
- Number of units
- 3
- Building materials
- Brick
- Roof type
- Shingle
Listing agent Jason Smith (513) 378-4663
Listing office Plum Tree Realty 9078 Union Centre Blvd Ste 350, West Chester, OH (513) 443-5060
Listing date May 15, 2026
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.
HighLights
- Brick triplex built in 1910 with 2 x 2‑bedroom units and 1 x 1‑bedroom unit
- New boiler installed in 2023
- Off‑street parking with driveway next to the house
- Two front porches plus a fireplace (FireplaceYN: true)
- Heating includes natural gas and hot water (heating)
- Shingle roof; sold AS‑IS
Overview
The building is located in Norwood, OH, at 2541 Melrose Avenue, and is positioned about a block from Rookwood Pavilion. The public remarks also note walkable access to shopping, dining, and entertainment, which can be attractive for residents who want everyday amenities nearby.
For buyers and operators, the unit mix supports a range of household sizes with multiple independent rental options on one site. The property is being sold AS-IS, so prospective tenants, buyers, and brokers should plan their due diligence accordingly. With three separate units already in place and a recent mechanical update noted by the seller, this triplex can be a straightforward fit for those seeking an income property configuration with off-street parking and porch-front curb presence.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.8k | $14.28 |
| − Vacancy | −$3.5k | −$0.80 |
| EGI | $59.3k | $13.48 |
| − OpEx | −$17.8k | −$4.04 |
| NOI | $41.5k | $9.44 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Norwood
- County
- Hamilton
- State
- Ohio
- Longitude
- -84.447817
- Latitude
- 39.153286
