4-Unit Quadplex with Garage
New
For Sale
$449,000
409 Probasco Street, Cincinnati, OH 45220
Residential Income, Cincinnati, OH
Property Size4,186 SF
Lot Size0.22 Acres
Price / SF$107.26
Days on Market3
Property Features for 409 Probasco Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Garage, Driveway, Assigned, On Street
Window features
Wood Frames
Fireplace
1
High school district
Cincinnati City SD
Directions
Clifton Avenue to Probasco Street
Subdivision
Hamilton-E01
Standard status
Active
APN
101-0006-0034-00
Size
4,186 SF
Lot size
0.22 Acres
Utilities
Heating system
Hot Water(Heating)
Building Details
Year built
1926
Number of units
4
Building materials
Stone
Roof type
Shingle
Listing Agency:
Keller Williams Advisors · Keller Williams Realty
Listed By:
Skip Koesterman
(513) 766-9200
Added: Oct 7
Last Checked: Oct 9 at 3:06PM
MLS# 1896386
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 4,186-square-foot, four-unit property was built in 1926 and sits on a 0.219-acre lot. The building has stone construction, hot-water heating, a fireplace, and a shingle roof. It is vacant, needs work, and is being sold as-is. An additional lot to the left of the building is included in the sale.
Parking includes five garage spaces along with additional off-street parking. The property is a few blocks from the University of Cincinnati, the UC Medical Campus, and Good Samaritan Hospital.
Parking includes five garage spaces along with additional off-street parking. The property is a few blocks from the University of Cincinnati, the UC Medical Campus, and Good Samaritan Hospital.
Key Highlights
- Four‑unit property with 4,186 square feet of building area
- 0.219‑acre lot, with an additional lot included in the sale
- Five garage spaces plus additional off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,073
Cap Rate
7.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,460
$701.5K
Cap Rate 7%
$501,043
$501.0K
Cap Rate 9%
$389,700
$389.7K
Market Conditions
NOI Build-Up for 4,186 SF
Gross rent
$53.2K $12.72/SF
− Vacancy
−$3.1K −$0.75/SF
EGI
$50.1K $11.97/SF
− OpEx
−$15.0K −$3.59/SF
NOI
$35.1K $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%
$701,460
Cap Rate 7%
$501,043
Cap Rate 9%
$389,700
Alternative Uses
Best Use
Multifamily LT 5
$501.0K
$438.4K – $584.6K
NOI $35,073 @ 7.0% cap · market cap 7.81%
Second Best
Apartment 5plus
$444.3K
$388.8K – $518.4K
NOI $31,101 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$832.1K
$728.1K – $970.8K
NOI $58,248 @ 7.0% cap · market cap 12.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,786
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Vacant and offered as-is, the property has five garage spaces and additional off-street parking.
Where is this quadplex located?
The property is located at 409 Probasco Street Cincinnati, OH.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Four‑unit property with 4,186 square feet of building area; 0.219‑acre lot, with an additional lot included in the sale; Five garage spaces plus additional off‑street parking
