Historic Brick
New
For Sale
$660,000
433 Hopkins Street, Cincinnati, OH 45203
Residential Income, Cincinnati, OH
Property Size5,340 SF
Lot Size0.07 Acres
Price / SF$123.60
Days on Market7
Property Features for 433 Hopkins Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Window features
Vinyl Frames
High school district
Cincinnati City SD
Directions
Ezzard Charles St. to South on John St to left on Hopkins.
Subdivision
Hamilton-E01
Standard status
Active
APN
134-0005-0064-00
Lot size
0.07 Acres
Utilities
Heating system
Forced Air, Natural Gas
Building Details
Year built
1880
Number of units
4
Building materials
Brick
Roof type
Membrane
Listing Agency:
Huff Realty
(513) 574-2300
Listed By:
Darnell Carr
(513) 792-3004
Added: Sep 17
Changed: Sep 18
Last Checked: Sep 23 at 5:06PM
MLS# 1894301
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.
Built in 1880, this brick quadplex offers 5,340 square feet within a historic Italianate structure. The property features open-plan interiors, forced-air heating powered by natural gas, and a membrane roof. Its urban configuration and established architectural character provide a distinct multifamily asset in Cincinnati’s West End.
The property sits next to a soccer stadium and near Findlay Market and Washington Park. The 0.067-acre site is served by on-street parking, supporting its walkable city setting. Its location places residents close to several identified recreational and market destinations while retaining the character of an older brick building.
The property sits next to a soccer stadium and near Findlay Market and Washington Park. The 0.067-acre site is served by on-street parking, supporting its walkable city setting. Its location places residents close to several identified recreational and market destinations while retaining the character of an older brick building.
Key Highlights
- Quadplex with 5,340 square feet
- Historic Italianate building constructed in 1880
- Brick construction with membrane 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
$44,742
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
6.78%
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%
$894,840
$894.8K
Cap Rate 7%
$639,171
$639.2K
Cap Rate 9%
$497,133
$497.1K
Market Conditions
NOI Build-Up for 5,340 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
$67.9K $12.72/SF
− Vacancy
−$4.0K −$0.75/SF
EGI
$63.9K $11.97/SF
− OpEx
−$19.2K −$3.59/SF
NOI
$44.7K $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%
$894,840
Cap Rate 7%
$639,171
Cap Rate 9%
$497,133
Alternative Uses
Best Use
Multifamily LT 5
$639.2K
$559.3K – $745.7K
NOI $44,742 @ 7.0% cap · market cap 6.78%
Second Best
Apartment 5plus
$566.8K
$496.0K – $661.3K
NOI $39,676 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$1.06M
$928.8K – $1.24M
NOI $74,306 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,644
Businesses Nearby
Explore this area
Business Placement
Demographics for 45203, OH
2,365
Population
1,283
Households
1.8
Avg Household Size
34
Median Age
40%
College-Educated
88%
High-School Grad
1.2 sq mi
ZIP Area
1,971
Density / Sq Mi
$33,798
Median Household Income
$50,893
Median Earnings
$749
Median Rent
$296,100
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Historic multifamily property with open-plan interiors in Cincinnati’s West End, near a soccer stadium, Findlay Market, and Washington Park.
Where is this quadplex located?
The property is located at 433 Hopkins Street Cincinnati, OH.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: Quadplex with 5,340 square feet; Historic Italianate building constructed in 1880; Brick construction with membrane roof
