4630 Rapid Run Rd · Cincinnati, OH 45238

$359,000

24 bd · 16.0 ba · 3,584 sqft · MultiFamily · 12 Days on market

6,011 sqft 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 +3.7/5.0
• 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 (5+ Unit). Listing-text estimate: 4 units. 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 MLS

A brick multi-family with (two) 1 bedroom & (two) 2 bedroom units. 1 vacant unit. $2,858 total in monthly rent when it was fully leased. Coin operated laundry. 4 car garage. Covered porches for each unit. Sold "As-Is". 1 unit & common areas available for immediate showings!

Key facts

• Solid brick
• Newer appliances
• Fully rented

Tags

• SOLID BRICK
• SPACIOUS BEDROOM UNITS
• FULLY RENTED
• NEWER APPLIANCES
• FOUR COVERED PORCHES
• NEW INTERIOR PAINT

Property features AI

Finance

• Other: Property identified as a single building (one total building)
• Financial info: Designed as an income property with 4 total units; Two 1-bedroom units approximately 749 sq ft each with listed rents around $800–$1,000; Two 2-bedroom units approximately 1,043 sq ft each with listed rents around $1,000–$1,050
• HOA & community: Maintenance expense listed

Exterior

• Parking: Built-in rear garage; 4 garage spaces; 4 open driveway parking spaces
• Security: Smoke alarm (listed under miscellaneous)
• Utilities: Public water; Public sewer; Natural gas service; Owner pays water; Gas and electric total listed (value provided in data); Separate gas/electric service for units
• Home design: Quad (four-unit) building; Two levels
• Construction: Brick construction; Poured foundation; Membrane roof
• Exterior features: Front porch; Smoke alarm

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Total of 4 residential units: two 2-bedroom units and two 1-bedroom units; Unit breakdown: Unit 1 — 2 bedrooms; Unit 2 — 1 bedroom; Unit 3 — 2 bedrooms; Unit 4 — 1 bedroom
• Flooring: No flooring details provided
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Gas heating (hot water); Wall unit cooling; Heat paid by owner; Separate gas and electric meters; No separate furnace
• Interior features: 220 volt outlets; Full basement
• Laundry & utility: No specific washer/dryer or utility room details provided

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/4.0-bath units multifamily listed at $359k.

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive. Per door: $686/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $359k).
• Cap rate 15.5% 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 (+4.9%/yr); 78 active listings in the ZIP; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $6,829/mo this rent would consume 124% of the median local household income ($66k/yr) (locally 2012% 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 $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $101k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 22y 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 $265k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $359,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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: 1.90% ✓
• Cap rate: 15.47%
• Cash-on-cash: 32.77%
• DSCR: 2.46
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.87% rent growth · sell at horizon

5-year hold

• IRR: 30.1%
• Equity multiple: 2.29×
• Total profit: $129,980
• Equity at exit: $53,528

10-year hold

• IRR: 38.5%
• Equity multiple: 4.93×
• Total profit: $394,981
• Equity at exit: $31,040

Cash invested: $100,520 (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 45238

• Rents YoY: 4.9%
• Active inventory: 78
• Price-to-rent: 17.5×

Monthly cashflow live

• Estimated rent: $6,829 medium
• Mortgage (P&I): −$1,883
• Tax from tax record: −$617 /mo · $7,407/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,434
• Net cashflow: $2,745

Break-even live

Break-even rent $3,354

Max offer price $359,000

Occupancy floor 55%

Sensitivity live

Price	-10% $2,949	-5% $2,847	+0% $2,745	+5% $2,644	+10% $2,542
Rent	-10% $2,206	-5% $2,476	+0% $2,745	+5% $3,015	+10% $3,285
Rate	-1.0pp $2,926	-0.5pp $2,837	base $2,745	+0.5pp $2,652	+1.0pp $2,558

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

Units	Beds	Baths	Est. rent
▸ 4× units	6	4	$6,828
Total (4 units)			$6,829

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-21
   days on market $359,000 Active 12 DOM
2. 2026-06-18
   days on market $359,000 Active 9 DOM
3. 2026-06-17
   days on market $359,000 Active 8 DOM
4. 2026-06-16
   days on market $359,000 Active 7 DOM
5. 2026-06-15
   days on market $359,000 Active 6 DOM
6. 2026-06-13
   days on market $359,000 Active 4 DOM
7. 2026-06-13
   remarks 682-char remark
8. 2026-06-13
   days on market $359,000 Active 3 DOM
9. 2026-06-10
   remarks 670-char remark
10. 2026-06-10
    listed $359,000 Active 1 DOM

ⓘ 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: $7,407 · $617/mo
• Projected year-2 tax: $7,407 · $617/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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $81,948
• − Mortgage interest: −$20,110
• − Property taxes: −$7,407
• − Insurance: −$1,795
• − Repairs & maintenance: −$6,556
• − Management: −$6,556
• − Depreciation: −$10,444
• Taxable income: $29,081
• Est. tax owed @ 24.0%: −$6,979
• After-tax cash flow: $25,966/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): 48,351
• Household income: $66,277
• Rent vs Own: 40.3% rent · 59.7% own
• Severe rent burden: 2012.0

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 White (64%)
• Race & ethnicity: White 64% Black 28% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 10% · Canada
• Languages at home: 88% English-only · French/Haitian/Cajun 4% Spanish 2% German/W. Germanic 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: ▼ -197.57%
• Current HPI: 213.5097
• Rent YoY: ▲ 4.87%
• 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

+131.8% since first listed

18 events — show timeline

• 2026-06-09 Listed $359,000 Cincy MLS
• 2022-06-09 Sold (Public Records) $264,900 Public Records
• 2022-05-27 Sold (MLS) $254,900 Cincy MLS
• 2022-05-04 Contingent — Cincy MLS
• 2022-05-02 Relisted — Cincy MLS
• 2022-04-25 Contingent — Cincy MLS
• 2022-04-20 Relisted — Cincy MLS
• 2022-03-30 Contingent — Cincy MLS
• 2022-03-24 Listed $249,900 Cincy MLS
• 2022-01-15 Price Changed $694 RENT.
• 2020-04-07 Sold (Public Records) $175,000 Public Records
• 2012-02-15 Sold (Public Records) $36,000 Public Records
• 2012-02-08 Sold (MLS) $36,000 Cincy MLS
• 2011-06-21 Listed $39,900 Cincy MLS
• 2006-08-21 Sold (Public Records) $143,000 Public Records
• 2005-03-31 Sold (Public Records) $138,000 Public Records
• 2005-03-30 Sold (MLS) $138,000 Cincy MLS
• 2004-08-25 Listed $154,900 Cincy MLS

Property tax history

+9.3%/yr

Latest (2025): $7,407 · +0.7% YoY. Source: county tax records.