974 Burton Ave · Cincinnati, OH 45229

$199,000

6 bd · 3.0 ba · 4,546 sqft · MultiFamily public records · 100 Days on market

Built 1892 0.45 ac lot

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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
• Livability +4.0/5.0
• Rent growth +3.9/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

PC3245 Brick 3-family, off street parking, large lot, located on no outlet street. Needs some work to restore property to the stately Manor it once was. In auction status.

Key facts

• 0.45 acre lot
• Built 1892
• Listed 100 days

Property features AI

Exterior

• Parking: Off-street parking via driveway
• Utilities: Public water; Public sewer; Natural gas service
• Home design: Triplex; Three or more levels; Two fireplaces
• Construction: Stone foundation
• Exterior features: Slate roof; Brick construction; Vinyl and wood windows; Nearly half-acre lot (approximately 0.448 acres); Lot dimensions about 100 x 201

Interior

• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 2 bedrooms; Unit 3: 2 bedrooms
• Bathrooms: Unit 1: 2 full bathrooms; Unit 2: 2 full bathrooms; Unit 3: 1 full bathroom
• Heating & cooling: Gas heating
• Interior features: Partial basement; Two wood-burning fireplaces

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $541/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $199k).
• Recommended offer: $181k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.8% 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: Rents rising fast (+5.5%/yr); 49 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $3,688/mo this rent would consume 137% of the median local household income ($32k/yr) (locally 1730% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $56k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($181k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $50k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $22k; list at $199k implies a 784% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price; built in 1892 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $181,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1892 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.85% ✓
• Cap rate: 12.82%
• Cash-on-cash: 23.30%
• DSCR: 2.04
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $404,594
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1041 Dana Ave	0.17mi	5/4.0 (-1)	4,265 (-6%)	21mo	$379,900	$89	55

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

Projected returns pro-forma

-3.0% appreciation · 5.55% rent growth · sell at horizon

5-year hold

• IRR: 19.8%
• Equity multiple: 1.84×
• Total profit: $46,709
• Equity at exit: $29,672

10-year hold

• IRR: 30.1%
• Equity multiple: 4.10×
• Total profit: $172,734
• Equity at exit: $17,206

Cash invested: $55,720 (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 45229

• Home prices YoY: -24.0%
• Rents YoY: 5.5%
• Active inventory: 49
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $3,688 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$705 /mo · $8,460/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$774
• Net cashflow: $1,082

Break-even live

Break-even rent $2,318

Max offer price $199,000

Occupancy floor 66%

Sensitivity live

Price	-10% $1,195	-5% $1,138	+0% $1,082	+5% $1,026	+10% $969
Rent	-10% $791	-5% $936	+0% $1,082	+5% $1,228	+10% $1,373
Rate	-1.0pp $1,182	-0.5pp $1,133	base $1,082	+0.5pp $1,030	+1.0pp $978

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$3,688
Total (2 units)			$3,688

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
907 Lexington Ave Unit A Cincinnati, OH	6.0	2.0	6500	$2,580	$0.40	3d	1	0.32mi
907 Lexington Ave Unit A Cincinnati, OH	6.0	2.0	6500	$2,900	$0.45	16d	1	0.32mi
907 Lexington Ave Cincinnati, OH	6.0	2.0	6000	$2,550	$0.42	3d	1	0.32mi

Listing history 22 events

1. 2026-06-21
   days on market $199,000 Active 100 DOM
2. 2026-06-18
   days on market $199,000 Active 97 DOM
3. 2026-06-17
   days on market $199,000 Active 96 DOM
4. 2026-06-16
   days on market $199,000 Active 95 DOM
5. 2026-06-15
   days on market $199,000 Active 94 DOM
6. 2026-06-13
   days on market $199,000 Active 92 DOM
7. 2026-06-13
   days on market $199,000 Active 91 DOM
8. 2026-06-09
   days on market $199,000 Active 88 DOM
9. 2026-06-08
   pricedays on market $199,000 Active 87 DOM
10. 2026-06-07
    days on market $249,000 Active 86 DOM
11. 2026-06-03
    days on market $249,000 Active 82 DOM
12. 2026-06-02
    days on market $249,000 Active 81 DOM
13. 2026-06-01
    days on market $249,000 Active 80 DOM
14. 2026-05-31
    days on market $249,000 Active 79 DOM
15. 2026-03-13
    listed $249,000 Active
16. 2008-10-06
    historical
17. 2008-04-07
    soldstatus $22,500 171-char remark

    Show marketing remark (171 chars)

    PC3245 Brick 3-family, off street parking, large lot, located on no outlet street. Needs some work to restore property to the stately Manor it once was. In auction status.

18. 2008-04-07
    listed $52,900

    Show marketing remark (171 chars)

    PC3245 Brick 3-family, off street parking, large lot, located on no outlet street. Needs some work to restore property to the stately Manor it once was. In auction status.

19. 2007-11-16
    listed $55,900 171-char remark

    Show marketing remark (171 chars)

    PC3245 Brick 3-family, off street parking, large lot, located on no outlet street. Needs some work to restore property to the stately Manor it once was. In auction status.

20. 2006-07-24
    historical
21. 2006-07-12
    listed $109,900
22. 2003-02-14
    soldstatus $145,000

ⓘ 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: $8,460 · $705/mo
• Projected year-2 tax: $8,460 · $705/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate 7 d/yr ≥103°F today · 19 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: $44,256
• − Mortgage interest: −$11,147
• − Property taxes: −$8,460
• − Insurance: −$995
• − Repairs & maintenance: −$3,540
• − Management: −$3,540
• − Depreciation: −$5,789
• Taxable income: $10,784
• Est. tax owed @ 24.0%: −$2,588
• After-tax cash flow: $10,396/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 County · 701,295 people
• City population: 505,555
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 13,529
• Household income: $32,263
• Rent vs Own: 69.4% rent · 30.6% own
• Severe rent burden: 1730.0

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: Predominantly Black (65%)
• Race & ethnicity: Black 65% White 24% Two or more races 5% Hispanic / Latino 4% Asian 1%
• Common ancestry: Italian 2% Iranian 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 4% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -80.34%
• Current HPI: 254.492
• Rent YoY: ▲ 5.55%
• Metro: Cincinnati, OH-KY-IN
• 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

+71.7% since first listed

8 events — show timeline

• 2026-03-13 Listed $249,000 Cincy MLS
• 2008-10-06 Listing Removed — Cincy MLS
• 2008-04-07 Listed $52,900 Cincy MLS
• 2008-04-07 Sold (MLS) $22,500 Cincy MLS
• 2007-11-16 Listed $55,900 Cincy MLS
• 2006-07-24 Listing Removed — Cincy MLS
• 2006-07-12 Listed $109,900 Cincy MLS
• 2003-02-14 Sold (Public Records) $145,000 Public Records

Property tax history

+29.1%/yr

Latest (2025): $8,460 · +1.3% YoY. Source: county tax records.