414 Clark St · Cincinnati, OH 45203

$550,000

6 bd · None ba · — sqft · MultiFamily · 41 Days on market

Built 1880 2,919 sqft lot ↓ 8% since listing

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Beautiful West End gem with all limestone exterior, soaring ceilings and old-world Cincinnati charm in historical Betts Longworth district! 6,400 feet. 6 apartments with open floorplans and high value add opportunity w/ cosmetic upgrades. Or make into large single fam home or condo conversion. 2 blocks from TQL Stadium, Close to Washington Park, Downtown, and OTR. Newer roof, solid mechanicals. seperate hvac. Sold as is.

Key facts

• Separate hvac
• Newer roof
• Soaring ceilings

Tags

• LIMESTONE EXTERIOR
• SOARING CEILINGS
• OPEN FLOORPLANS
• NEWER ROOF
• SOLID MECHANICALS
• SEPARATE HVAC

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas
• Home design: Multi-unit building (6 units); Single building
• Construction: Stone construction materials; Membrane roof; Stone foundation; Three or more stories
• Exterior features: Stone construction; Membrane roof; Five fireplaces (inoperable); Stone foundation; Windows: Other

Interior

• Bedrooms: Six 1-bedroom units
• Heating & cooling: Forced air heating (gas); Window air conditioning units
• Interior features: Full basement; Three or more levels

What this means for you Summary

Snapshot

• This is a 6-bed/?-bath multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $6k ($66k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $550k).
• Recommended offer: $534k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.3% vs local median 3.9% in Cincinnati — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#130 in OH, #1,856 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D, crime F.
• Cincinnati Public Schools (urban): math 25% / reading 36% proficiency, ranked #581 of 656 in OH (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 13 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $11,630/mo this rent would consume 413% of the median local household income ($34k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $16k of equity ($4k loan paydown + $12k appreciation (2.1% local appreciation)).
• At projected returns (2.1% appreciation + 3.0% rent growth), your $154k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($534k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $533,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.11% ✓
• Cap rate: 18.33%
• Cash-on-cash: 42.97%
• DSCR: 2.91
• GRM: 3.9

CMA / ARV

No comps found within radius.

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
440 Hopkins St	0.06mi	5/5.5 (-1)	4,488	15mo	$810,000	$180	68
1214 Race St	0.32mi	6/—	—	11mo	$650,000	—	64
1826 Logan St	0.56mi	6/3.0	3,132	6mo	$430,000	$137	56
819 Findlay St	0.64mi	6/—	4,080	3mo	$80,000	$20	55
127 W Ninth St	0.36mi	7/4.0 (+1)	—	13mo	$693,000	—	55
116 W Fourteenth St	0.29mi	5/5.5 (-1)	—	19mo	$1,119,000	—	53
64 E Clifton Ave	0.73mi	6/6.0	—	4mo	$215,000	—	50
1622 Pleasant St	0.46mi	5/3.0 (-1)	2,644	19mo	$621,000	$235	45
420 Dayton St	0.74mi	5/3.0 (-1)	1,300	13mo	$105,000	$81	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.15% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 47.2%
• Equity multiple: 3.55×
• Total profit: $393,313
• Equity at exit: $221,468

10-year hold

• IRR: 47.7%
• Equity multiple: 7.10×
• Total profit: $939,406
• Equity at exit: $322,436

Cash invested: $154,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

ZIP-level market 45203

• Home prices YoY: 1.2%
• Active inventory: 13
• Price-to-rent: 23.6×

Monthly cashflow live

• Estimated rent: $11,630 high
• Mortgage (P&I): −$2,884
• Tax from tax record: −$559 /mo · $6,712/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,442
• Net cashflow: $5,515

Break-even live

Break-even rent $4,649

Max offer price $550,000

Occupancy floor 48%

Sensitivity live

Price	-10% $5,826	-5% $5,671	+0% $5,515	+5% $5,359	+10% $5,204
Rent	-10% $4,596	-5% $5,056	+0% $5,515	+5% $5,974	+10% $6,434
Rate	-1.0pp $5,792	-0.5pp $5,655	base $5,515	+0.5pp $5,372	+1.0pp $5,227

6-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$11,628
Total (6 units)			$11,630

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
122 W Elder St Unit 1056110P Cincinnati, OH	5.0	3.0	3444	$7,875	$2.29	2d	1	0.54mi
126 E 13th St Unit 1056025P Cincinnati, OH	5.0	4.0	2960	$5,339	$1.80	4d	1	0.55mi
2017 Elm St Unit 1056145P Cincinnati, OH	5.0	2.0	3939	$7,694	$1.95	13d	1	0.69mi
1304 Broadway Unit 1056130P Cincinnati, OH	1.0–5.0	1.0–4.0	2072	$8,495	$4.10	11d	2	0.75mi
258 Dorchester Ave Unit 1056079P Cincinnati, OH	6.0	3.0	3498	$7,661	$2.19	15d	1	1.09mi
2317 Chickasaw St Cincinnati, OH	5.0	2.0	2826	$2,750	$0.97	15d	1	1.21mi
7 W Hollister St Cincinnati, OH	5.0	2.0	1585	$2,750	$1.74	15d	1	1.36mi
2421 Fairview Ave Cincinnati, OH	5.0	2.0	2400	$3,300	$1.38	24d	1	1.37mi
2545 Vestry Ave Cincinnati, OH	6.0	3.0	—	$2,500	—	5d	1	1.49mi

Listing history 16 events

1. 2026-06-21
   days on market $550,000 Active 41 DOM
2. 2026-06-18
   days on market $550,000 Active 38 DOM
3. 2026-06-17
   days on market $550,000 Active 37 DOM
4. 2026-06-16
   days on market $550,000 Active 36 DOM
5. 2026-06-15
   days on market $550,000 Active 35 DOM
6. 2026-06-13
   days on market $550,000 Active 33 DOM
7. 2026-06-13
   pricedays on market $550,000 Active 32 DOM
8. 2026-06-09
   days on market $595,000 Active 29 DOM
9. 2026-06-08
   days on market $595,000 Active 28 DOM
10. 2026-06-07
    days on market $595,000 Active 27 DOM
11. 2026-06-03
    days on market $595,000 Active 23 DOM
12. 2026-06-02
    days on market $595,000 Active 22 DOM
13. 2026-06-01
    days on market $595,000 Active 21 DOM
14. 2026-05-31
    days on market $595,000 Active 20 DOM
15. 2026-05-18
    price $595,000
16. 2026-05-11
    listed $650,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $6,712 · $559/mo
• Projected year-2 tax: $7,646 · $637/mo
• Expected delta: +$934/yr (+$78/mo · 13.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $139,560
• − Mortgage interest: −$30,809
• − Property taxes: −$6,712
• − Insurance: −$2,750
• − Repairs & maintenance: −$11,165
• − Management: −$11,165
• − Depreciation: −$16,000
• Taxable income: $60,959
• Est. tax owed @ 24.0%: −$14,630
• After-tax cash flow: $51,549/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Cincinnati Public Schools
• NCES district ID: 3904375
• Math proficiency: 25% ▼ -19.00%
• Reading proficiency: 36% ▼ -14.00%
• Median HH income: $35,743
• Composite: 25.21/100
• National rank: #7508
• State rank: #581 of 656 in OH

Livability — Cincinnati

• Score: 80/100
• State rank: #130
• US rank: #1856

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment D Housing A+ Health & safety B+ User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cincinnati, OH
• County: Hamilton · 838,887 people
• City population: 505,555
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 2,530
• Household income: $33,798
• Rent vs Own: 67.2% rent · 32.8% own
• Severe rent burden: 5.2

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 826,054 people
• By 2030: 830,947 · +0.6%
• By 2040: 832,319 · +0.8%
• By 2050: 822,428 · -0.4%
• By 2075: 788,688 · -4.5%
• By 2100: 710,674 · -14.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 54% White 33% Asian 7% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: English 1% Serbian 1% Slovak 1%
• Foreign-born: 7% · South Korea, China, Canada
• Languages at home: 87% English-only · Korean 5% Russian/Polish/Slavic 5% Chinese 1%

Political lean MEDSL · Hamilton

• 2024 margin: D (+14.9) · D 57.0% · R 42.1%
• 2008→2024 swing: +7.9pp toward D · 2008: 7.0pp · 2024: 14.9pp
• All cycles: 2024: D+14.9 2020: D+15.9 2016: D+9.5 2012: D+4.9 2008: D+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.15%
• Current HPI: 185.8445
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Price history

-8.5% since first listed

2 events — show timeline

• 2026-05-18 Price Changed $595,000 Cincy MLS
• 2026-05-11 Listed $650,000 Cincy MLS

Property tax history

+1.4%/yr

Latest (2025): $6,712 · +0.7% YoY. Source: county tax records.