Building Details

Year Built 1895

Listing Agency: Coldwell Banker Realty

Listed By: Sarah Robben Show Phone

Source: Lovdalgroup

Added: Aug 8 Changed: Oct 7 Last Checked: Oct 15 at 1:32AM

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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 Coldwell Banker Realty

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Investment Insights

Based on property information with market context.

Built in 1895, this multifamily property contains 4,824 square feet of living space and retains original architectural character. The units include hardwood flooring, high ceilings, oversized windows, and period details, while shared laundry facilities serve the property. Off-street parking is provided on the large lot.

The property is located at 2604 Harris Ave in Norwood, near Factory 52, Rookwood, and downtown Cincinnati. Its configuration supports both investor ownership and an owner-occupant arrangement, as described in the source information.

Key Highlights

• 4,824 square feet of living space in a multifamily property built in 1895
• Hardwood floors, tall ceilings, oversized windows, and original architectural details
• Shared laundry facilities on the property

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$41,644

Cap Rate

6.95%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$832,880 $832.9K

Cap Rate 7%

$594,914 $594.9K

Cap Rate 9%

$462,711 $462.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,824 SF

Gross rent

$80.5K $16.68/SF

− Vacancy

−$4.7K −$0.98/SF

EGI

$75.7K $15.70/SF

− OpEx

−$34.1K −$7.06/SF

NOI

$41.6K $8.63/SF

Area

Hamilton County, OH

Vacancy

5.90%

Lease Rate

$16.68 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$832,880

Cap Rate 7%

$594,914

Cap Rate 9%

$462,711

Alternative Uses

Best Use

Apartment 5plus

$594.9K

$520.6K – $694.1K (±1% cap)

NOI $41,644 @ 7.0% cap · market cap 6.95%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$864.8K

$756.7K – $1.01M (±1% cap)

NOI $60,539 @ 7.0% cap · market cap 10.11%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Multifamily properties

Suggested Use

Top Pick Real Estate Agency Big Box & Wholesale Store Building Supply HVAC Service Auto Parts Store Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

930

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

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Multifamily property - Well-maintained residential income property with original architectural character, shared laundry, and off-street parking on a large lot.

Where is this multifamily property located?

The property is located at 2604 Harris Ave Norwood, OH.

What is the asking price?

The asking price for this property is $599,000.

What are key features of this property?

This property features: 4,824 square feet of living space in a multifamily property built in 1895; Hardwood floors, tall ceilings, oversized windows, and original architectural details; Shared laundry facilities on the property