Central Park Condo with
For Sale
$196,000
7865 Ramble View #102 Springfield, Cincinnati, OH 45231
Updated 2BR/2BA condo with modern amenities in Central Park.
Property Size1,129 SF
Price / SF$173.60
Days on Market424
Property Features for 7865 Ramble View #102 Springfield
General Information
Standard status
Active
Size
1,129 SF
Property subtype
Condominium
Amenities
Electric
Central Air
Dishwasher
Microwave
Oven/Range
Refrigerator
Patio, Shingle
Building Details
Building Size
1,129 SF
Year Built
1998
Listing Agency:
Team Results Realty
(614) 382-2124
Listed By:
Scott Marvin · License #2018003245
Source:
Kw
Added: Jun 12, 2025
Changed: Aug 8
Last Checked: Jul 16 at 7:12AM
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 Team Results Realty
Investment Insights
Based on property information with market context.
This is a 2-bedroom, 2-full-bathroom condo located in Central Park. The updated kitchen features new stainless steel appliances. The unit offers an open space suitable for a dining room and living room. Both bathrooms have been updated. New ceiling fans have been installed, along with new luxury vinyl plank flooring throughout the condo. The lighting has been redesigned to include ceiling recessed lights. Residents have access to a clubhouse with an exercise area and a fenced-in pool. The property is located minutes away from Cross County Highway and I-75. The property size is 1129 square feet.
Key Highlights
- Updated kitchen featuring new stainless steel appliances.
- Access to a clubhouse with exercise area and fenced‑in pool.
- Updated bathrooms.
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
$11,958
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
6.10%
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%
$239,160
$239.2K
Cap Rate 7%
$170,829
$170.8K
Cap Rate 9%
$132,867
$132.9K
Market Conditions
NOI Build-Up for 1,129 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
$23.0K $20.40/SF
− Vacancy
−$1.3K −$1.14/SF
EGI
$21.7K $19.26/SF
− OpEx
−$9.8K −$8.67/SF
NOI
$12.0K $10.59/SF
Area
ZIP 45231
Vacancy
5.60%
Lease Rate
$20.40 /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%
$239,160
Cap Rate 7%
$170,829
Cap Rate 9%
$132,867
Alternative Uses
Best Use
Apartment 5plus
$170.8K
$149.5K – $199.3K
NOI $11,958 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$224.4K
$196.4K – $261.8K
NOI $15,710 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Explore this area
Business Placement
Demographics for 45231, OH
41,934
Population
17,845
Households
2.3
Avg Household Size
40
Median Age
27%
College-Educated
91%
High-School Grad
14.8 sq mi
ZIP Area
2,833
Density / Sq Mi
$69,140
Median Household Income
$43,400
Median Earnings
$1,118
Median Rent
$164,900
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?
Apartment building - Updated 2BR/2BA condo with modern amenities in Central Park.
Where is this apartment building located?
The property is located at 7865 Ramble View #102 Springfield Cincinnati, OH.
What is the asking price?
The asking price for this property is $196,000.
What are key features of this property?
This property features: Updated kitchen featuring new stainless steel appliances.; Access to a clubhouse with exercise area and fenced‑in pool.; Updated bathrooms.
