1740 Queen City Ave · Cincinnati, OH 45214

$999,000

96 bd · 8.0 ba · — sqft · MultiFamily · 40 Days on market

Built 1890 4,051 sqft lot

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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 +13.5/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• DSCR +4.1/10.0
• Livability +4.0/5.0
• 1% rule +3.4/10.0
• 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: 8 units. confirmed

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

Great Investor Project! Rehab is almost completed in this beautiful historic looking building. Comprised of three two bedroom and one bath, three one bedroom, one bath apartments with a leasable commercial space below. The current owners have rough plans to make a 2 bed/ 1 bath Airbnb on the first floor and commercial space with its own bathroom. Seller is also willing to sell the lot next door (parcel # 203-0029-0147) for added building parking or development.

Key facts

• Fully renovated
• New cabinetry
• 4,051 sq ft lot

Tags

• FULLY RENOVATED
• IMMEDIATE INCOME POTENTIAL
• FUTURE DEVELOPMENT UPSIDE
• RECENTLY UPDATED KITCHENS
• RECENTLY UPDATED BATHROOMS
• NEW CABINETRY

Property features AI

Finance

• Financial info: Offered for sale; 8 total units in one building

Exterior

• Parking: No garage
• Home design: Brick building; 4-story building
• Construction: Brick construction
• Exterior features: 32 x 132 lot; Zoned Commercial and Multiple use

Interior

• Bedrooms: One-bedroom and two-bedroom unit types
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric baseboard heating; Wall cooling units
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 4×2bd/1ba + 4×1bd/1ba units multifamily listed at $999k.

Deal economics

• At list price, monthly cash flow is $43 ($515/yr) — positive. Per door: $5/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $836k (16.3% below list).
• Recommended offer: $836k (16.3% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: Rents rising fast (+8.1%/yr); 67 active listings in the ZIP; lower-income renter base — watch delinquency; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $8,357/mo this rent would consume 360% 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 $107k of equity ($7k loan paydown + $100k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $280k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$172k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($969k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 27y 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 $365k; list at $999k implies a 174% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $835,700 (16.3% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 16% 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 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.84% ✗
• Cap rate: 6.34%
• Cash-on-cash: 0.18%
• DSCR: 1.01
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 26.1%
• Equity multiple: 3.11×
• Total profit: $590,895
• Equity at exit: $899,978

10-year hold

• IRR: 24.2%
• Equity multiple: 7.60×
• Total profit: $1,847,179
• Equity at exit: $1,940,837

Cash invested: $279,720 (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 45214

• Home prices YoY: 3.6%
• Rents YoY: 8.1%
• Active inventory: 67
• Price-to-rent: 76.2×

Monthly cashflow live

• Estimated rent: $8,357 high
• Mortgage (P&I): −$5,239
• Tax from tax record: −$904 /mo · $10,848/yr
• Insurance: −$416
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,755
• Net cashflow: $43

Break-even live

Break-even rent $8,303

Max offer price $999,000

Occupancy floor 94%

Sensitivity live

Price	-10% $608	-5% $326	+0% $43	+5% $-240	+10% $-523
Rent	-10% $-617	-5% $-287	+0% $43	+5% $373	+10% $703
Rate	-1.0pp $546	-0.5pp $297	base $43	+0.5pp $-216	+1.0pp $-479

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,372
▸ 4× units	1	1	$3,988
Total (8 units)			$8,357

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: $249,750
• Closing costs: $29,970
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-21
   days on market $999,000 Active 40 DOM
2. 2026-06-18
   days on market $999,000 Active 37 DOM
3. 2026-06-17
   days on market $999,000 Active 36 DOM
4. 2026-06-16
   days on market $999,000 Active 35 DOM
5. 2026-06-15
   days on market $999,000 Active 34 DOM
6. 2026-06-13
   days on market $999,000 Active 32 DOM
7. 2026-06-13
   days on market $999,000 Active 31 DOM
8. 2026-06-09
   days on market $999,000 Active 28 DOM
9. 2026-06-08
   days on market $999,000 Active 27 DOM
10. 2026-06-07
    days on market $999,000 Active 26 DOM
11. 2026-06-03
    days on market $999,000 Active 22 DOM
12. 2026-06-02
    days on market $999,000 Active 21 DOM
13. 2026-06-01
    days on market $999,000 Active 20 DOM
14. 2026-05-31
    days on market $999,000 Active 19 DOM
15. 2026-05-12
    listed $999,000 Active
16. 2024-05-31
    historical
17. 2024-04-19
    listed $400,000 Active
18. 2023-11-30
    historical 465-char remark

    Show marketing remark (465 chars)

    Great Investor Project! Rehab is almost completed in this beautiful historic looking building. Comprised of three two bedroom and one bath, three one bedroom, one bath apartments with a leasable commercial space below. The current owners have rough plans to make a 2 bed/ 1 bath Airbnb on the first floor and commercial space with its own bathroom. Seller is also willing to sell the lot next door (parcel # 203-0029-0147) for added building parking or development.

19. 2023-10-24
    price $495,000 465-char remark

    Show marketing remark (465 chars)

    Great Investor Project! Rehab is almost completed in this beautiful historic looking building. Comprised of three two bedroom and one bath, three one bedroom, one bath apartments with a leasable commercial space below. The current owners have rough plans to make a 2 bed/ 1 bath Airbnb on the first floor and commercial space with its own bathroom. Seller is also willing to sell the lot next door (parcel # 203-0029-0147) for added building parking or development.

20. 2023-09-08
    listed $500,000 Active 465-char remark

    Show marketing remark (465 chars)

    Great Investor Project! Rehab is almost completed in this beautiful historic looking building. Comprised of three two bedroom and one bath, three one bedroom, one bath apartments with a leasable commercial space below. The current owners have rough plans to make a 2 bed/ 1 bath Airbnb on the first floor and commercial space with its own bathroom. Seller is also willing to sell the lot next door (parcel # 203-0029-0147) for added building parking or development.

21. 2022-03-07
    soldstatus $365,000
22. 2020-09-28
    soldstatus $105,000
23. 2018-01-23
    soldstatus $78,000
24. 2007-03-31
    historical
25. 2006-10-02
    listed $129,900
26. 2000-10-04
    soldstatus $98,600
27. 2000-07-24
    historical
28. 2000-03-23
    listed $104,900
29. 1999-10-25
    historical
30. 1999-04-24
    listed $99,900

ⓘ 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: $10,848 · $904/mo
• Projected year-2 tax: $13,216 · $1,101/mo
• Expected delta: +$2,368/yr (+$197/mo · 21.8%)

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

Taxation est. · year 1

• Rental income: $100,284
• − Mortgage interest: −$55,960
• − Property taxes: −$10,848
• − Insurance: −$4,995
• − Repairs & maintenance: −$8,023
• − Management: −$8,023
• − Depreciation: −$29,062
• Taxable loss: −$16,626
• Est. tax savings @ 24.0%: +$3,990
• After-tax cash flow: $4,505/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

+900.0% since first listed

16 events — show timeline

• 2026-05-12 Listed $999,000 Dayton MLS
• 2024-05-31 Listing Removed — Dayton MLS
• 2024-04-19 Listed $400,000 Dayton MLS
• 2023-11-30 Listing Removed — Cincy MLS
• 2023-10-24 Price Changed $495,000 Cincy MLS
• 2023-09-08 Listed $500,000 Cincy MLS
• 2022-03-07 Sold (Public Records) $365,000 Public Records
• 2020-09-28 Sold (Public Records) $105,000 Public Records
• 2018-01-23 Sold (Public Records) $78,000 Public Records
• 2007-03-31 Listing Removed — Cincy MLS
• 2006-10-02 Listed $129,900 Cincy MLS
• 2000-10-04 Sold (Public Records) $98,600 Public Records
• 2000-07-24 Listing Removed — Cincy MLS
• 2000-03-23 Listed $104,900 Cincy MLS
• 1999-10-25 Listing Removed — Cincy MLS
• 1999-04-24 Listed $99,900 Cincy MLS

Property tax history

+13.2%/yr

Latest (2025): $10,848 · +4.1% YoY. Source: county tax records.