Updated Triplex with Hardwood
For Sale
$455,000
378 Howell Avenue, Cincinnati, OH 45220
Residential Income, Cincinnati, OH
Property Size3,094 SF
Price / SF$147.06
Days on Market252
Property Features for 378 Howell Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Driveway, Off Street
Window features
Wood Frames
Patio and Porch features
Patio, Porch
Exterior features
Patio, Porch, Balcony, Wood Fence
Fencing
Wood
Fireplace
1
High school district
Cincinnati City SD
Directions
north on clifton ave left on Howell. property on the right
Subdivision
Hamilton-E01
Standard status
Active
APN
214-0005-0099-00
Size
3,094 SF
Utilities
Heating system
Natural Gas, Forced Air
Building Details
Year built
1905
Number of units
3
Building materials
Stone, Brick
Roof type
Shingle
Listing Agency:
TREO REALTORS
(513) 731-8736
Listed By:
Kent Maupin
(513) 225-1790
Added: Dec 23, 2025
Changed: Aug 19
Last Checked: Sep 1 at 1:06AM
MLS# 1864922
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 3,094-square-foot triplex, built in 1905, combines updated interiors with original architectural character. Hardwood flooring extends throughout the residence, while stone and brick construction provide a durable exterior presence. The property also includes a fireplace, shingle roofing, natural gas heating, and forced-air delivery.
Outdoor features include a patio, porch, balcony, and wood fencing. Parking is provided by a driveway and additional off-street spaces. Located at 378 Howell Avenue in Cincinnati, the property is near a hospital and the University of Cincinnati, adding convenient access to major institutional destinations.
Outdoor features include a patio, porch, balcony, and wood fencing. Parking is provided by a driveway and additional off-street spaces. Located at 378 Howell Avenue in Cincinnati, the property is near a hospital and the University of Cincinnati, adding convenient access to major institutional destinations.
Key Highlights
- 3,094‑square‑foot triplex built in 1905
- Hardwood floors throughout the property
- Stone and brick construction with shingle roof
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
$25,924
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
5.70%
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%
$518,480
$518.5K
Cap Rate 7%
$370,343
$370.3K
Cap Rate 9%
$288,044
$288.0K
Market Conditions
NOI Build-Up for 3,094 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
$39.4K $12.72/SF
− Vacancy
−$2.3K −$0.75/SF
EGI
$37.0K $11.97/SF
− OpEx
−$11.1K −$3.59/SF
NOI
$25.9K $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%
$518,480
Cap Rate 7%
$370,343
Cap Rate 9%
$288,044
Alternative Uses
Best Use
Multifamily LT 5
$370.3K
$324.1K – $432.1K
NOI $25,924 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$328.4K
$287.4K – $383.1K
NOI $22,988 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$615.0K
$538.2K – $717.6K
NOI $43,053 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,324
Businesses Nearby
Explore this area
Business Placement
Demographics for 45220, OH
15,466
Population
7,400
Households
2.1
Avg Household Size
28
Median Age
63%
College-Educated
96%
High-School Grad
2.9 sq mi
ZIP Area
5,333
Density / Sq Mi
$51,404
Median Household Income
$26,866
Median Earnings
$954
Median Rent
$385,200
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 residential property with porch, patio, balcony, and off-street parking.
Where is this triplex located?
The property is located at 378 Howell Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: 3,094‑square‑foot triplex built in 1905; Hardwood floors throughout the property; Stone and brick construction with shingle roof
