Four-Unit Brick
650 Leo Drive, Hamilton, OH 45013
For Sale
$550,000
Pending
Residential Income, Hamilton, OH
Property Size5,600 SF
Lot Size0.40 Acres
Days on Market53
Property Features for 650 Leo Drive
General Information
Property type
Property subtype
Parking features
Window features
Patio and Porch features
Exterior features
Fencing
High school district
Directions
Subdivision
Standard status
APN
Size
Lot size
Utilities
Heating system
Building Details
Year built
Number of units
Building materials
Roof type
Listing Agency:
Huff Realty
(513) 644-4833
Listed By:
Tyler Minges · License #OH 2007001747
(513) 792-3004
Added: Sep 16
Changed: Oct 16
Last Checked: Nov 7 at 12:06PM
MLS# 1894188
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.
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Investment Insights
Based on property information with market context.
Built in 1989, this 5,600-square-foot quadplex contains four separate residences. Each unit includes two bedrooms, one full bathroom, a living room, and a kitchen, creating a consistent layout across the property. Brick and vinyl siding, shingle roofing, forced-air natural gas heating, decks, and privacy fencing add to the physical improvements.
The property occupies 0.3963 acres at 650 Leo Drive in Hamilton, Ohio, within Butler County. Driveway parking is provided, while the exterior configuration includes private fencing and deck areas associated with the residences.
The property occupies 0.3963 acres at 650 Leo Drive in Hamilton, Ohio, within Butler County. Driveway parking is provided, while the exterior configuration includes private fencing and deck areas associated with the residences.
Key Highlights
- Four separate units, each with 2 bedrooms, 1 full bathroom, a living room, and a kitchen
- 5,600 square feet on a 0.3963‑acre lot
- Built in 1989 with brick and vinyl siding construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,256
Cap Rate
9.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,005,120
$1.0M
Cap Rate 7%
$717,943
$717.9K
Cap Rate 9%
$558,400
$558.4K
Market Conditions
NOI Build-Up for 5,600 SF
Gross rent
$98.8K $17.64/SF
− Vacancy
−$7.4K −$1.32/SF
EGI
$91.4K $16.32/SF
− OpEx
−$41.1K −$7.34/SF
NOI
$50.3K $8.97/SF
Area
Butler County, OH
Vacancy
7.50%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,005,120
Cap Rate 7%
$717,943
Cap Rate 9%
$558,400
Alternative Uses
Best Use
Multifamily LT 5
$780.2K
$682.7K – $910.2K
NOI $54,613 @ 7.0% cap · market cap 9.93%
Second Best
Apartment 5plus
$717.9K
$628.2K – $837.6K
NOI $50,256 @ 7.0% cap · market cap 9.14%
Theoretical Best
Office A
$1.11M
$968.8K – $1.29M
NOI $77,506 @ 7.0% cap · market cap 14.09%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
237
Businesses Nearby
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Business Placement
Demographics for 45013, OH
53,911
Population
21,734
Households
2.5
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
117.7 sq mi
ZIP Area
458
Density / Sq Mi
$72,932
Median Household Income
$40,730
Median Earnings
$967
Median Rent
$217,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Four separate residences with consistent two-bedroom layouts, private decks, and driveway parking in Hamilton.
Where is this quadplex located?
The property is located at 650 Leo Drive Hamilton, OH.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Four separate units, each with 2 bedrooms, 1 full bathroom, a living room, and a kitchen; 5,600 square feet on a 0.3963‑acre lot; Built in 1989 with brick and vinyl siding construction
