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Property profile & analytics
OFF-MARKET
Estimated value
$920,000
Garden apartment buildings
506 Main St, Milford, OH 45150-1174
Entity Owned
Free & Clear
Property ID
US66-2305996
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1964
Construction
BRICK
Total area
8,460 SF
Lot
0.31 ac (13,286 SF)
APN
21-07-31A-019P
UPID
US66-2305996
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$895k
CAP Approach
CAP
$1.23M
Comparable Approach
Comparable
$693k
Blend (final)
Blend
$920k
Owner & transaction history
Lore Little Miami Homes LLC
Lore Little Miami Homes LLC
since 2025
Last sale
$1.2M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.2M
+77.8%
Retail stores
$1.2M
+75.8%
Auto repair, garage
$1.1M
+67.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Milford submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Milford submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$860,000
ML approach
$895,000
CAP Approach
CAP Return
Estimation
6%
$1,325,000
6.5%
$1,225,000
7%
$1,135,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$675,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,205,000
Change: +78% · Conversion: Difficult
RETAIL STORES
$1,190,000
Change: +76% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,130,000
Change: +67% · Conversion: Difficult
Blend value · Realmo final
$920k
Range $828k – $1.01M · ±10% · vs last sale $1.20M (May 18 2025)
Last sale anchor
$1.20M
May 18 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$109 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$10,405
Tax year 2023
Assessed value
$120,160
Assessed 2023
Previous assessed
$120,160
+0.0% YoY
Effective rate
8.66%
On assessed value
Assessed land
$26,950
Assessed improvement
$93,210
Land market value
$77,000
Improvement market value
$266,300
Total market value
$343,300
Applied tax rate
21.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1964
Construction
BRICK
Heating
FORCED AIR
Cooling
WINDOW A/C
Stories
2
Units
11
Rooms
10
Bathrooms
1
Total area
8,460 SF
Lot
0.31 ac (13,286 SF)
APN
21-07-31A-019P
UPID
US66-2305996
Jurisdiction
CLERMONT
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$675,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
RETAIL STORES
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1964
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
11
Rooms
10
Bathrooms
1
Lot
0.31 ac
Current owner
From public records · entity-resolved
Lore Little Miami Homes LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 42893, CINCINNATI, OH 45242-0893
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 18, 2025
$1,200,000
Lore Little Miami Homes LLC
Main Street Milford Apartments LLC
Warranty Deed
—
Sep 19, 2022
$695,000
Main Street Milford Apartments LLC
506 Main Street LLC
Warranty Deed
$521,250 · Centerbank
Aug 2, 2006
—
506 Main Street LLC
Strottman,thomas D & Carolyn J
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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