421 W Mcmicken Ave · Cincinnati, OH 45214

$24,900

2 bd · 2.0 ba · 2,178 sqft · MultiFamily public records · 363 Days on market

Built 1870 2,788 sqft lot ↓ 29% since listing

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Why this score? — see what drove the C 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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Over the Rhine area in Up and Coming area! Easy Commute to downtown and the River Walking distance to shops restaurants and coffee shops and Parks Cash only sold as is Some of the work has been done. New electrical wiring. New HVAC new plumbing and Water heater. Great view from back

Key facts

• 2,788 sq ft lot
• Built 1870
• Listed 362 days

Property features AI

Finance

• Other: Zoning: Other (see remarks)
• HOA & community: No HOA

Exterior

• Utilities: Public water; Natural gas; Private sewer
• Home design: Traditional single-family home; Two levels (second floor area ~900)
• Construction: Foundation: stone/other
• Exterior features: Vinyl siding; Shingle roof

Interior

• Kitchen: Kitchen approximately 10 x 10
• Bedrooms: Two bedrooms (both on main level), each about 10 x 10
• Bathrooms: One full bathroom and one partial bathroom on main level
• Interior features: Six total rooms; Full unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $25k.

Deal economics

• At list price, monthly cash flow is $962 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Cap rate 52.7% 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; 40 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 $1,436/mo this rent would consume 62% 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 $3k of equity ($172 loan paydown + $2k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 10, 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 363 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 11y ago; this cycle's ask has dropped $5k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1870 — 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 $21,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 363 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1870 — 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 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: 5.77% ✓
• Cap rate: 52.67%
• Cash-on-cash: 165.62%
• DSCR: 8.37
• GRM: 1.4

CMA / ARV

• ARV (on-the-fly): $372,438
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
318 Mohawk St	0.07mi	3/2.0 (+1)	2,226 (+2%)	2mo	$380,000	$171	87
458 Lloyd Pl	0.25mi	3/3.5 (+1)	2,217 (+2%)	9mo	$344,900	$156	67
535 Klotter Ave	0.20mi	3/3.0 (+1)	2,410 (+11%)	2mo	$430,000	$178	62
813 Livingston St	0.42mi	2/—	2,386 (+10%)	20mo	$38,000	$16	48
633 Straight St	0.58mi	3/2.0 (+1)	1,931 (-11%)	15mo	$220,000	$114	36
1624 Pleasant St	0.68mi	3/3.0 (+1)	2,496 (+15%)	21mo	$535,000	$214	17

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: —
• Equity multiple: 12.83×
• Total profit: $82,458
• Equity at exit: $22,432

10-year hold

• IRR: —
• Equity multiple: 31.62×
• Total profit: $213,473
• Equity at exit: $48,375

Cash invested: $6,972 (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: 1.4×

Monthly cashflow live

• Estimated rent: $1,436 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $374/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $962

Break-even live

Break-even rent $218

Max offer price $24,900

Occupancy floor 28%

Sensitivity live

Price	-10% $979	-5% $971	+0% $962	+5% $954	+10% $945
Rent	-10% $849	-5% $906	+0% $962	+5% $1,019	+10% $1,076
Rate	-1.0pp $975	-0.5pp $969	base $962	+0.5pp $956	+1.0pp $949

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
812 Dayton St Unit 1056021P Cincinnati, OH	3.0	1.0	1453	$2,995	$2.06	2d	1	0.18mi
474 Dayton St Apt A Cincinnati, OH	1.0	1.5	1500	$1,300	$0.87	24d	1	0.19mi
472 Dayton St Cincinnati, OH	2.0	1.5	2519	$1,500	$0.60	5d	1	0.19mi
1925 Colerain Ave Unit 1056034P Cincinnati, OH	2.0	1.0	1453	$2,790	$1.92	13d	1	0.37mi
2227 Wheeler St Cincinnati, OH	1.0	1.0	1984	$1,495	$0.75	24d	1	0.37mi
1 Foxhall Ct Unit 1 Cincinnati, OH	2.0	2.5	1500	$2,200	$1.47	24d	1	0.40mi
2332 Chickasaw St Unit 1 Cincinnati, OH	3.0	1.0	2000	$1,800	$0.90	24d	1	0.45mi
107 E Clifton Ave Unit 1234537P Cincinnati, OH	2.0–3.0	1.0–2.0	2260	$3,754	$1.66	15d	2	0.47mi
2521 Ravine St Cincinnati, OH	3.0	3.5	1528	$2,995	$1.96	24d	1	0.58mi
1826 Republic St Unit 1056093P Cincinnati, OH	2.0	1.0	1614	$2,812	$1.74	15d	1	0.60mi
111 W Elder St Unit 1056044P Cincinnati, OH	1.0–4.0	1.0–4.0	1835	$3,983	$2.17	11d	2	0.60mi
55 Mulberry St Cincinnati, OH	3.0	3.0	2500	$3,500	$1.40	24d	1	0.63mi
1617 Elm St Cincinnati, OH	3.0	1.0–2.0	1028	$3,673	$3.57	2d	44	0.66mi
2704 W McMicken Ave Unit 2 Cincinnati, OH	3.0	1.0	1760	$1,500	$0.85	24d	1	0.68mi
1610 Pleasant St Unit 1056041P Cincinnati, OH	3.0–4.0	2.0–3.0	2960	$4,370	$1.48	11d	2	0.69mi
1622 Vine St Unit 1622-11 Cincinnati, OH	1.0	1.0	2500	$1,725	$0.69	4d	1	0.78mi
1508 Pleasant St Unit 1495913P Cincinnati, OH	1.0–3.0	1.0–2.0	1431	$5,854	$4.09	2d	2	0.80mi
1507 Race St Unit 1056026P Cincinnati, OH	2.0	1.0	1453	$3,630	$2.50	15d	1	0.82mi
1423 Pleasant St Unit 1056037P Cincinnati, OH	2.0	1.0	1560	$3,411	$2.19	2d	1	0.84mi
1042 Marshall Ave Apt 3 Cincinnati, OH	3.0	1.0	1400	$1,195	$0.85	24d	1	0.86mi
21 E 15th St Unit 1512946P Cincinnati, OH	3.0	2.0	2852	$12,830	$4.50	24d	1	0.90mi
328 Mulberry St Cincinnati, OH	3.0	3.5	2640	$5,500	$2.08	15d	1	0.95mi
328 Mulberry St Cincinnati, OH	3.0	3.5	2640	$5,500	$2.08	24d	1	0.95mi
623 Riddle Rd Cincinnati, OH	3.0	2.0	2028	$1,800	$0.89	24d	1	1.02mi
1610 Sycamore St Cincinnati, OH	2.0	2.0	1600	$1,900	$1.19	11d	1	1.03mi
216 Gilman Ave Unit 1363975P Cincinnati, OH	3.0	1.0	1776	$3,474	$1.96	4d	1	1.04mi
236 Gilman Ave Cincinnati, OH	3.0	2.5	1699	$2,200	$1.29	13d	1	1.09mi
1602 Mansfield St Unit 1056028P Cincinnati, OH	2.0	2.0	1453	$4,145	$2.85	2d	1	1.10mi
1410 Mansfield St Apt 4 Cincinnati, OH	3.0	2.0	1412	$2,387	$1.69	11d	1	1.11mi
1410 Mansfield St Apt 3 Cincinnati, OH	3.0	2.0	1412	$2,401	$1.70	11d	1	1.11mi
424 Liberty Hl Unit 1056033P Cincinnati, OH	3.0	2.0	1453	$5,780	$3.98	2d	1	1.17mi
100 East Central Pkwy Cincinnati, OH	1.0–2.0	1.0–2.0	1080	$2,734	$2.53	5d	8	1.19mi
306 Grear Aly Unit 1459457P Cincinnati, OH	1.0	1.0	1722	$4,150	$2.41	24d	1	1.20mi
1326 Broadway Unit 1324946P Cincinnati, OH	1.0–3.0	1.0–3.0	1162	$6,715	$5.78	24d	2	1.20mi
1304 Broadway Unit 1056130P Cincinnati, OH	1.0–5.0	1.0–4.0	2072	$4,465	$2.16	11d	2	1.23mi
595 Martin Luther King Dr W Cincinnati, OH	3.0	2.0	2048	$1,650	$0.81	11d	1	1.28mi
2025 Burnet Ave Unit 2 Cincinnati, OH	3.0	2.0	1513	$1,795	$1.19	4d	1	1.30mi
3141 Bishop St Unit 1 Cincinnati, OH	3.0	1.0	1500	$2,100	$1.40	24d	1	1.32mi
19 Garfield Pl Cincinnati, OH	1.0–2.0	1.0–2.0	1680	$2,260	$1.34	2d	11	1.34mi
151 Seventh St W Cincinnati, OH	2.0	1.0–2.0	1191	$2,129	$1.79	2d	4	1.36mi

Listing history 40 events

1. 2026-06-21
   days on market $24,900 Active 363 DOM
2. 2026-06-18
   days on market $24,900 Active 360 DOM
3. 2026-06-17
   status $24,900 Active 359 DOM
4. 2026-06-17
   days on market $24,900 Contingency Pending 359 DOM
5. 2026-06-16
   statusdays on market $24,900 Contingency Pending 358 DOM
6. 2026-06-15
   days on market $24,900 Active 357 DOM
7. 2026-06-13
   days on market $24,900 Active 355 DOM
8. 2026-06-13
   days on market $24,900 Active 354 DOM
9. 2026-06-09
   days on market $24,900 Active 351 DOM
10. 2026-06-08
    days on market $24,900 Active 350 DOM
11. 2026-06-07
    days on market $24,900 Active 349 DOM
12. 2026-06-03
    days on market $24,900 Active 345 DOM
13. 2026-06-02
    days on market $24,900 Active 344 DOM
14. 2026-06-01
    days on market $24,900 Active 343 DOM
15. 2026-05-31
    days on market $24,900 Active 342 DOM
16. 2026-04-28
    price $24,900
17. 2026-02-10
    status Active
18. 2025-06-27
    historical Contingency Pending
19. 2025-06-23
    listed $29,900 Active
20. 2021-10-12
    soldstatus $89,000
21. 2021-10-08
    soldstatus $89,000 Closed 290-char remark

    Show marketing remark (290 chars)

    Over the Rhine area in Up and Coming area! Easy Commute to downtown and the River Walking distance to shops restaurants and coffee shops and Parks Cash only sold as is Some of the work has been done. New electrical wiring. New HVAC new plumbing and Water heater. Great view from back

22. 2021-09-16
    status Pending 290-char remark

    Show marketing remark (290 chars)

    Over the Rhine area in Up and Coming area! Easy Commute to downtown and the River Walking distance to shops restaurants and coffee shops and Parks Cash only sold as is Some of the work has been done. New electrical wiring. New HVAC new plumbing and Water heater. Great view from back

23. 2021-08-01
    price $99,900 290-char remark

    Show marketing remark (290 chars)

    Over the Rhine area in Up and Coming area! Easy Commute to downtown and the River Walking distance to shops restaurants and coffee shops and Parks Cash only sold as is Some of the work has been done. New electrical wiring. New HVAC new plumbing and Water heater. Great view from back

24. 2021-03-26
    listed $74,000 Active 290-char remark

    Show marketing remark (290 chars)

    Over the Rhine area in Up and Coming area! Easy Commute to downtown and the River Walking distance to shops restaurants and coffee shops and Parks Cash only sold as is Some of the work has been done. New electrical wiring. New HVAC new plumbing and Water heater. Great view from back

25. 2020-07-15
    historical
26. 2020-05-20
    price $37,000
27. 2020-04-20
    listed $44,000 Active
28. 2019-04-12
    soldstatus $215,000
29. 2019-04-05
    soldstatus $21,500 Sold
30. 2019-03-25
    historical Accept Backup Offers
31. 2019-01-03
    price $24,900
32. 2018-10-20
    listed $29,900 Active
33. 2018-07-14
    historical
34. 2018-03-27
    price $23,900
35. 2018-01-09
    listed $24,900 Active
36. 2017-08-05
    historical
37. 2017-05-08
    listed $32,000 Active
38. 2015-12-31
    historical
39. 2015-10-21
    price $29,900
40. 2015-08-11
    listed $34,900 Active

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

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: $17,231
• − Mortgage interest: −$1,395
• − Property taxes: −$374
• − Insurance: −$124
• − Repairs & maintenance: −$1,378
• − Management: −$1,378
• − Depreciation: −$724
• Taxable income: $11,857
• Est. tax owed @ 24.0%: −$2,846
• After-tax cash flow: $8,702/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

-28.7% since first listed

25 events — show timeline

• 2026-04-28 Price Changed $24,900 Cincy MLS
• 2026-02-10 Relisted — Cincy MLS
• 2025-06-27 Contingent — Cincy MLS
• 2025-06-23 Listed $29,900 Cincy MLS
• 2021-10-12 Sold (Public Records) $89,000 Public Records
• 2021-10-08 Sold (MLS) $89,000 CBRMLS
• 2021-09-16 Pending — CBRMLS
• 2021-08-01 Price Changed $99,900 CBRMLS
• 2021-03-26 Listed $74,000 CBRMLS
• 2020-07-15 Listing Removed — Cincy MLS
• 2020-05-20 Price Changed $37,000 Cincy MLS
• 2020-04-20 Listed $44,000 Cincy MLS
• 2019-04-12 Sold (Public Records) $215,000 Public Records
• 2019-04-05 Sold (MLS) $21,500 Cincy MLS
• 2019-03-25 Contingent — Cincy MLS
• 2019-01-03 Price Changed $24,900 Cincy MLS
• 2018-10-20 Listed $29,900 Cincy MLS
• 2018-07-14 Listing Removed — Cincy MLS
• 2018-03-27 Price Changed $23,900 Cincy MLS
• 2018-01-09 Listed $24,900 Cincy MLS
• 2017-08-05 Listing Removed — Cincy MLS
• 2017-05-08 Listed $32,000 Cincy MLS
• 2015-12-31 Listing Removed — Cincy MLS
• 2015-10-21 Price Changed $29,900 Cincy MLS
• 2015-08-11 Listed $34,900 Cincy MLS

Property tax history

+5.3%/yr

Latest (2025): $2,130 · +7.7% YoY. Source: county tax records.