Historic Multifamily Property with Loft
For Sale
$660,000
5508 Arnsby Place, Cincinnati, OH 45227
Updated one-bedroom rentals offer open eat-in kitchens, on-site laundry, and private tenant parking.
Property Size3,400 SF
Price / SF$194.12
Days on Market164
Property Features for 5508 Arnsby Place
General Information
Standard status
Active
Size
3,400 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
laundry
Fireplace
Window Unit
Forced Air
Gas
Deck, Patio, Porch, Shingle
Building Details
Year Built
1890
Listing Agency:
Coldwell Banker Realty
Listed By:
Meg Perez · License #2016002909
(513) 658-7478
Source:
Kw
Added: Apr 13
Changed: Sep 23
Last Checked: Sep 22 at 9:10PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 3,400+ square foot multifamily property, built in 1890, sits on almost 2/3 of an acre and includes updated one-bedroom, one-bath rentals. The units feature open eat-in kitchens with substantial cabinet storage and newer appliances, oversized living areas, large bedrooms, and updated bathrooms. Historic character remains throughout, while one residence offers a loft-style two-level layout. Laundry facilities are located on site, and off-street parking is available for tenants.
Outdoor features include a deck, patio, porch, and shingle exterior. Interior systems include fireplaces, window units, forced air, and gas service. The property is near the Murray Bike/Run Trail and Cincy Sports Club, with Mom n' Em Coffee/Wine two blocks away. Element Eatery, Red Dog/3-Acre Dog Park, Hyde Park, Oakley, Mariemont Squares, and I-71 are also within the stated nearby area.
Outdoor features include a deck, patio, porch, and shingle exterior. Interior systems include fireplaces, window units, forced air, and gas service. The property is near the Murray Bike/Run Trail and Cincy Sports Club, with Mom n' Em Coffee/Wine two blocks away. Element Eatery, Red Dog/3-Acre Dog Park, Hyde Park, Oakley, Mariemont Squares, and I-71 are also within the stated nearby area.
Key Highlights
- 3,400+ square feet on almost 2/3 of an acre
- Updated one‑bedroom, one‑bath rental units
- One unit features a loft‑style two‑level layout
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
$25,262
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
3.83%
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%
$505,240
$505.2K
Cap Rate 7%
$360,886
$360.9K
Cap Rate 9%
$280,689
$280.7K
Market Conditions
NOI Build-Up for 3,400 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
$48.6K $14.28/SF
− Vacancy
−$2.6K −$0.77/SF
EGI
$45.9K $13.51/SF
− OpEx
−$20.7K −$6.08/SF
NOI
$25.3K $7.43/SF
Area
Cincinnati, OH
Vacancy
5.40%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
45.00%
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%
$505,240
Cap Rate 7%
$360,886
Cap Rate 9%
$280,689
Alternative Uses
Best Use
Apartment 5plus
$360.9K
$315.8K – $421.0K
NOI $25,262 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$675.9K
$591.4K – $788.5K
NOI $47,311 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
795
Businesses Nearby
Explore this area
Business Placement
Demographics for 45227, OH
18,427
Population
9,425
Households
2
Avg Household Size
38
Median Age
53%
College-Educated
94%
High-School Grad
5.8 sq mi
ZIP Area
3,177
Density / Sq Mi
$70,614
Median Household Income
$50,011
Median Earnings
$1,220
Median Rent
$256,400
Median Home Value
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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?
Multifamily property - Updated one-bedroom rentals offer open eat-in kitchens, on-site laundry, and private tenant parking.
Where is this multifamily property located?
The property is located at 5508 Arnsby Place 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: 3,400+ square feet on almost 2/3 of an acre; Updated one‑bedroom, one‑bath rental units; One unit features a loft‑style two‑level layout
