1637 Waverly Ave · Cincinnati, OH 45214

$118,000

2 bd · 1.5 ba · 1,532 sqft · SingleFamily public records · 106 Days on market

Built 1895 2,004 sqft lot Est $113k · at est.

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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 +29.7/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +5.7/15.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

This 3-bedroom, 2-bathroom home, built in 1895, offers 1,332 square feet of living space. Well suited as a primary residence, long or short term rental, it provides an affordable option close to urban amenities. Conveniently located with on-street parking and a view of the city, the property is just a 10-minute drive from downtown Cincinnati, with easy access to I-75 and US-50 for commuting. Nearby attractions include the vibrant Over-the-Rhine district with its dining, breweries, and entertainment, as well as Smale Riverfront Park, Washington Park, and TQL Stadium. For outdoor enthusiasts, Mt. Echo Park and Rapid Run Park are a short drive away, offering trails and scenic views. This property offers practicality and proximity for those seeking convenience and city access.

Key facts

• Heavy lifting done
• 2,004 sq ft lot
• Built 1895

Tags

• HEAVY LIFTING DONE

Property features AI

Finance

• Other: Lease not considered
• HOA & community: No HOA

Exterior

• Utilities: Public water; Public sewer; Natural gas service; Gas water heating
• Home design: Single-family home; Quad-level layout; Architectural style: Other
• Construction: Stone foundation
• Exterior features: Shingle roof; Vinyl windows; Shingle, vinyl, and wood siding; Residential zoning; Lot dimensions about 21.33 x 95

Interior

• Kitchen: Kitchen approximately 12 x 12
• Bedrooms: Three bedrooms total; Primary bedroom approximately 12 x 12 (on level 2); Second bedroom approximately 11 x 12 (on level 2); Third bedroom approximately 13 x 13 (on level 3)
• Bathrooms: One full bathroom on level 2; One half bathroom
• Heating & cooling: Forced air heating
• Interior features: Six total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $430 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $118k).
• Recommended offer: $107k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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 (+8.1%/yr); 67 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $1,640/mo this rent would consume 71% of the median local household income ($28k/yr) (locally 857% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $13k of equity ($816 loan paydown + $12k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $33k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $30k; list at $118k implies a 293% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $107,380 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.39% ✓
• Cap rate: 10.67%
• Cash-on-cash: 15.63%
• DSCR: 1.70
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $113,368
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1599 Tremont St	0.05mi	3/1.5 (+1)	1,394 (-9%)	6mo	$168,000	$121	73
1817 Forbus St	0.58mi	2/1.0	1,448 (-6%)	4mo	$10,000	$7	58
2473 Everglade Pl	0.39mi	3/2.0 (+1)	1,392 (-9%)	8mo	$104,000	$75	53
1955 Fairmount Ave	0.61mi	3/1.0 (+1)	1,624 (+6%)	4mo	$120,000	$74	51
1841 Carll St	0.61mi	2/2.5	1,626 (+6%)	10mo	$160,000	$98	49
1910 State Ave	0.67mi	2/1.0	1,560 (+2%)	22mo	$20,000	$13	45
1798 Pulte St	0.65mi	2/1.0	1,392 (-9%)	14mo	$29,000	$21	40
1797 Westwood Ave	0.46mi	3/1.5 (+1)	1,380 (-10%)	23mo	$117,500	$85	38
1708 State Ave	0.71mi	3/2.0 (+1)	1,568 (+2%)	23mo	$25,000	$16	37

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

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 38.5%
• Equity multiple: 4.04×
• Total profit: $100,406
• Equity at exit: $106,304

10-year hold

• IRR: 35.1%
• Equity multiple: 9.95×
• Total profit: $295,699
• Equity at exit: $229,248

Cash invested: $33,040 (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 45214

• Home prices YoY: 3.6%
• Rents YoY: 8.1%
• Active inventory: 67
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,640 high
• Mortgage (P&I): −$619
• Tax from tax record: −$197 /mo · $2,366/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $430

Break-even live

Break-even rent $1,095

Max offer price $118,000

Occupancy floor 69%

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: $29,500
• Closing costs: $3,540
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2504 White St Apt 5 Cincinnati, OH	3.0	2.0	1150	$1,150	$1.00	23d	1	0.71mi
1042 Marshall Ave Apt 3 Cincinnati, OH	3.0	1.0	1400	$1,195	$0.85	23d	1	0.93mi
2341 W McMicken Ave Unit 1 Cincinnati, OH	1.0	1.0	1291	$1,300	$1.01	4d	1	0.96mi
2341 W McMicken Ave Apt 2 Cincinnati, OH	1.0	1.0	1051	$1,200	$1.14	4d	1	0.96mi
2704 W McMicken Ave Unit 2 Cincinnati, OH	3.0	1.0	1760	$1,500	$0.85	23d	1	1.07mi
1 Foxhall Ct Unit 1 Cincinnati, OH	2.0	2.5	1500	$2,200	$1.47	23d	1	1.11mi
2117 Saint Leo Pl Cincinnati, OH	2.0	1.0	1050	$1,150	$1.10	23d	1	1.12mi
1241 Bates Ave Cincinnati, OH	3.0	2.5	2100	$1,875	$0.89	23d	1	1.12mi
1925 Colerain Ave Unit 1056034P Cincinnati, OH	2.0	1.0	1453	$2,790	$1.92	12d	1	1.13mi
421 Southview Ave Unit 2 Cincinnati, OH	3.0	1.0	1350	$1,800	$1.33	23d	1	1.21mi
3301 Colerain Ave Cincinnati, OH	1.0	1.0	1021	$1,491	$1.46	4d	9	1.24mi
445 W McMicken Ave Cincinnati, OH	3.0	1.0	1090	$1,350	$1.24	23d	1	1.29mi
2521 Ravine St Cincinnati, OH	3.0	3.5	1528	$2,995	$1.96	23d	1	1.31mi
717 Martin Luther King Dr W Cincinnati, OH	2.0	1.0–2.0	767	$1,875	$2.44	1d	56	1.32mi
623 Riddle Rd Cincinnati, OH	3.0	2.0	2028	$1,800	$0.89	23d	1	1.33mi
812 Dayton St Unit 1056021P Cincinnati, OH	3.0	1.0	1453	$2,995	$2.06	1d	1	1.38mi
595 Martin Luther King Dr W Cincinnati, OH	3.0	2.0	2048	$1,650	$0.81	10d	1	1.41mi
474 Dayton St Apt A Cincinnati, OH	1.0	1.5	1500	$1,300	$0.87	23d	1	1.43mi
1740 Minion Ave Cincinnati, OH	2.0	1.0	1320	$1,200	$0.91	23d	1	1.48mi
927 Chateau Ave Cincinnati, OH	3.0	1.0	1354	$1,550	$1.14	21d	1	1.49mi

Listing history 25 events

1. 2026-06-18
   days on market $118,000 Active 106 DOM
2. 2026-06-17
   days on market $118,000 Active 105 DOM
3. 2026-06-16
   days on market $118,000 Active 104 DOM
4. 2026-06-15
   days on market $118,000 Active 103 DOM
5. 2026-06-13
   days on market $118,000 Active 101 DOM
6. 2026-06-13
   days on market $118,000 Active 100 DOM
7. 2026-06-09
   days on market $118,000 Active 97 DOM
8. 2026-06-08
   days on market $118,000 Active 96 DOM
9. 2026-06-07
   days on market $118,000 Active 95 DOM
10. 2026-06-03
    days on market $118,000 Active 91 DOM
11. 2026-06-02
    days on market $118,000 Active 90 DOM
12. 2026-06-01
    days on market $118,000 Active 89 DOM
13. 2026-05-31
    days on market $118,000 Active 88 DOM
14. 2026-03-04
    listed $118,000 Active
15. 2024-12-26
    historical 783-char remark

    Show marketing remark (783 chars)

    This 3-bedroom, 2-bathroom home, built in 1895, offers 1,332 square feet of living space. Well suited as a primary residence, long or short term rental, it provides an affordable option close to urban amenities. Conveniently located with on-street parking and a view of the city, the property is just a 10-minute drive from downtown Cincinnati, with easy access to I-75 and US-50 for commuting. Nearby attractions include the vibrant Over-the-Rhine district with its dining, breweries, and entertainment, as well as Smale Riverfront Park, Washington Park, and TQL Stadium. For outdoor enthusiasts, Mt. Echo Park and Rapid Run Park are a short drive away, offering trails and scenic views. This property offers practicality and proximity for those seeking convenience and city access.

16. 2024-11-25
    price $118,000 783-char remark

    Show marketing remark (783 chars)

    This 3-bedroom, 2-bathroom home, built in 1895, offers 1,332 square feet of living space. Well suited as a primary residence, long or short term rental, it provides an affordable option close to urban amenities. Conveniently located with on-street parking and a view of the city, the property is just a 10-minute drive from downtown Cincinnati, with easy access to I-75 and US-50 for commuting. Nearby attractions include the vibrant Over-the-Rhine district with its dining, breweries, and entertainment, as well as Smale Riverfront Park, Washington Park, and TQL Stadium. For outdoor enthusiasts, Mt. Echo Park and Rapid Run Park are a short drive away, offering trails and scenic views. This property offers practicality and proximity for those seeking convenience and city access.

17. 2024-10-26
    listed $135,000 Active 783-char remark

    Show marketing remark (783 chars)

    This 3-bedroom, 2-bathroom home, built in 1895, offers 1,332 square feet of living space. Well suited as a primary residence, long or short term rental, it provides an affordable option close to urban amenities. Conveniently located with on-street parking and a view of the city, the property is just a 10-minute drive from downtown Cincinnati, with easy access to I-75 and US-50 for commuting. Nearby attractions include the vibrant Over-the-Rhine district with its dining, breweries, and entertainment, as well as Smale Riverfront Park, Washington Park, and TQL Stadium. For outdoor enthusiasts, Mt. Echo Park and Rapid Run Park are a short drive away, offering trails and scenic views. This property offers practicality and proximity for those seeking convenience and city access.

18. 2024-02-28
    historical 439-char remark

    Show marketing remark (439 chars)

    Nestled in the heart of Cincinnati, this 3-bedroom, 2-bathroom home offers a unique opportunity. Ideal for investors or DIY enthusiasts. One of the home's most captivating features is the unique panoramic view of Cincinnati, providing a stunning cityscape that can become the backdrop of your daily life. Whether you're renovating for personal use or as an investment, this view adds an extraordinary dimension to the property's potential!

19. 2023-12-13
    listed $118,000 Active 439-char remark

    Show marketing remark (439 chars)

    Nestled in the heart of Cincinnati, this 3-bedroom, 2-bathroom home offers a unique opportunity. Ideal for investors or DIY enthusiasts. One of the home's most captivating features is the unique panoramic view of Cincinnati, providing a stunning cityscape that can become the backdrop of your daily life. Whether you're renovating for personal use or as an investment, this view adds an extraordinary dimension to the property's potential!

20. 2019-04-15
    soldstatus $30,000 Sold
21. 2019-02-23
    historical Accept Backup Offers
22. 2017-08-05
    listed $35,000 Active
23. 2011-07-25
    soldstatus $290,518
24. 1992-08-03
    soldstatus $22,000
25. 1990-10-11
    soldstatus $17,900

ⓘ 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: $2,366 · $197/mo
• Projected year-2 tax: $2,366 · $197/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 · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,680
• − Mortgage interest: −$6,610
• − Property taxes: −$2,366
• − Insurance: −$590
• − Repairs & maintenance: −$1,574
• − Management: −$1,574
• − Depreciation: −$3,433
• Taxable income: $3,533
• Est. tax owed @ 24.0%: −$848
• After-tax cash flow: $4,318/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): 8,630
• Household income: $27,852
• Rent vs Own: 76.1% rent · 23.9% own
• Severe rent burden: 857.0

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: Majority Black (63%)
• Race & ethnicity: Black 63% White 27% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 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: ▲ 15.01%
• Current HPI: 433.2346
• Rent YoY: ▲ 8.09%
• 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

+559.2% since first listed

12 events — show timeline

• 2026-03-04 Listed $118,000 Cincy MLS
• 2024-12-26 Listing Removed — Cincy MLS
• 2024-11-25 Price Changed $118,000 Cincy MLS
• 2024-10-26 Listed $135,000 Cincy MLS
• 2024-02-28 Listing Removed — Cincy MLS
• 2023-12-13 Listed $118,000 Cincy MLS
• 2019-04-15 Sold (MLS) $30,000 Cincy MLS
• 2019-02-23 Contingent — Cincy MLS
• 2017-08-05 Listed $35,000 Cincy MLS
• 2011-07-25 Sold (Public Records) $290,518 Public Records
• 1992-08-03 Sold (Public Records) $22,000 Public Records
• 1990-10-11 Sold (Public Records) $17,900 Public Records

Property tax history

+28.4%/yr

Latest (2025): $2,366 · +604.3% YoY. Source: county tax records.