Three-Unit Multifamily
New
For Sale
$295,000
548 Carplin Place, Cincinnati, OH 45229
Two three-bedroom apartments and a one-bedroom unit offer a mix of occupied, marketed, and renovation-needed space.
Property Size3,128 SF
Days on Market7
Property Features for 548 Carplin Place
General Information
Standard status
Active
Size
3,128 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Building Size
3,128 SF
Year Built
1926
Listing Agency:
Agora Realty Group
Listed By:
Craig Kellogg · License #BRKP.2014000983
(937) 520-9200
Source:
Trulyremarkableservice.kw
Added: Oct 9
Changed: Oct 11
Last Checked: Oct 14 at 7:56PM
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 Agora Realty Group
Investment Insights
Based on property information with market context.
This 1926 triplex contains three apartments: two with three bedrooms and one with a single bedroom. One three-bedroom unit is tenant-occupied under a housing voucher arrangement, while the other has been prepared for leasing and is being marketed. The one-bedroom apartment requires additional work before it can be occupied.
The occupied apartment is leased through a housing voucher program, with the tenant paying a portion of the monthly rent and covering utilities. The prepared three-bedroom unit accepts housing vouchers. Buyers should confirm bedroom counts, unit layouts, utility arrangements, and current lease terms during due diligence.
The occupied apartment is leased through a housing voucher program, with the tenant paying a portion of the monthly rent and covering utilities. The prepared three-bedroom unit accepts housing vouchers. Buyers should confirm bedroom counts, unit layouts, utility arrangements, and current lease terms during due diligence.
Key Highlights
- Three‑unit multifamily property built in 1926
- Two 3‑bedroom, 1‑bathroom apartments
- Occupied 3‑bedroom unit leased through a housing voucher program
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,208
Cap Rate
8.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$524,160
$524.2K
Cap Rate 7%
$374,400
$374.4K
Cap Rate 9%
$291,200
$291.2K
Market Conditions
NOI Build-Up for 3,128 SF
Gross rent
$39.8K $12.72/SF
− Vacancy
−$2.3K −$0.75/SF
EGI
$37.4K $11.97/SF
− OpEx
−$11.2K −$3.59/SF
NOI
$26.2K $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%
$524,160
Cap Rate 7%
$374,400
Cap Rate 9%
$291,200
Alternative Uses
Best Use
Multifamily LT 5
$374.4K
$327.6K – $436.8K
NOI $26,208 @ 7.0% cap · market cap 8.88%
Second Best
Apartment 5plus
$332.0K
$290.5K – $387.4K
NOI $23,241 @ 7.0% cap · market cap 7.88%
Theoretical Best
Office A
$621.8K
$544.1K – $725.4K
NOI $43,526 @ 7.0% cap · market cap 14.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
5,733
Businesses Nearby
Explore this area
Business Placement
Demographics for 45229, OH
12,540
Population
7,813
Households
1.6
Avg Household Size
37
Median Age
31%
College-Educated
87%
High-School Grad
2.7 sq mi
ZIP Area
4,644
Density / Sq Mi
$30,829
Median Household Income
$25,772
Median Earnings
$831
Median Rent
$316,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Two three-bedroom apartments and a one-bedroom unit offer a mix of occupied, marketed, and renovation-needed space.
Where is this triplex located?
The property is located at 548 Carplin Place Cincinnati, OH.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Three‑unit multifamily property built in 1926; Two 3‑bedroom, 1‑bathroom apartments; Occupied 3‑bedroom unit leased through a housing voucher program
