Updated
For Sale
$345,000
Pending
4569 N Edgewood Avenue, Cincinnati, OH 45232
Residential Income, Cincinnati, OH
Property Size2,592 SF
Lot Size0.13 Acres
Days on Market99
Property Features for 4569 N Edgewood Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Window features
Vinyl Frames
Patio and Porch features
Porch
Exterior features
Porch
High school district
Cincinnati City SD
Directions
Take I75N, turn left on W Mitchell Ave, turn left on Dery Ave,Turn right on N Edgewood Ave.
Subdivision
Hamilton-W01
Standard status
Pending
APN
219-0052-0035-00
Size
2,592 SF
Lot size
0.13 Acres
Utilities
Heating system
Forced Air
Amenities
in-unit laundry
Building Details
Year built
1895
Number of units
4
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
eXp Realty
(216) 242-2322
Listed By:
Jeremiah Martin
(866) 212-4991
Added: May 27
Changed: Aug 20
Last Checked: Sep 2 at 4:06PM
MLS# 1879299
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 Cincinnati quadplex contains 2,592 square feet on a 0.1328-acre lot, with refreshed interior finishes and substantial building updates. Two units include in-unit laundry, while major plumbing has been replaced. The property also features four brand-new HVAC systems, forced-air heating, a shingle roof installed in 2022, vinyl siding, and a porch.
Built in 1895, the property is located on N Edgewood Avenue in Cincinnati’s 45232 ZIP code. Parking is provided on the street. The combination of updated interiors, recent mechanical improvements, and renovated core systems provides a clear physical profile for a multifamily buyer.
Built in 1895, the property is located on N Edgewood Avenue in Cincinnati’s 45232 ZIP code. Parking is provided on the street. The combination of updated interiors, recent mechanical improvements, and renovated core systems provides a clear physical profile for a multifamily buyer.
Key Highlights
- 2,592 SF quadplex on a 0.1328‑acre lot
- Two units feature in‑unit laundry
- Four brand‑new HVAC systems
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
$21,717
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
6.29%
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%
$434,340
$434.3K
Cap Rate 7%
$310,243
$310.2K
Cap Rate 9%
$241,300
$241.3K
Market Conditions
NOI Build-Up for 2,592 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
$33.0K $12.72/SF
− Vacancy
−$1.9K −$0.75/SF
EGI
$31.0K $11.97/SF
− OpEx
−$9.3K −$3.59/SF
NOI
$21.7K $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%
$434,340
Cap Rate 7%
$310,243
Cap Rate 9%
$241,300
Alternative Uses
Best Use
Multifamily LT 5
$310.2K
$271.5K – $362.0K
NOI $21,717 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$275.1K
$240.7K – $321.0K
NOI $19,258 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$515.3K
$450.9K – $601.1K
NOI $36,068 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
Explore this area
Business Placement
Demographics for 45232, OH
7,109
Population
3,369
Households
2.1
Avg Household Size
25
Median Age
15%
College-Educated
83%
High-School Grad
4.0 sq mi
ZIP Area
1,777
Density / Sq Mi
$25,232
Median Household Income
$25,484
Median Earnings
$605
Median Rent
$122,500
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?
Quadplex - Recent roof work and new HVAC systems complement refreshed interiors and updated building infrastructure.
Where is this quadplex located?
The property is located at 4569 N Edgewood Avenue Cincinnati, OH.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: 2,592 SF quadplex on a 0.1328‑acre lot; Two units feature in‑unit laundry; Four brand‑new HVAC systems
