1323 Franklin Ave · Cincinnati, OH 45237

$155,000

4 bd · 2.5 ba · 1,608 sqft · SingleFamily public records · 6 Days on market

Built 1895 8,320 sqft lot Est $244k · 37% under

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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 +25.2/30.0
• ARV discount +15.0/15.0
• DSCR +8.3/10.0
• 1% rule +6.5/10.0
• Rent growth +4.2/5.0
• Livability +4.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lender owned, sold AS IS no disclosures no warranties, special conditions and addendums required. Old world beauty needs your touch.

Key facts

• Formal dining room
• Spacious kitchen
• Wood cabinetry

Tags

• HARDWOOD FLOORS
• SPACIOUS LIVING AREAS
• FORMAL DINING ROOM
• SPACIOUS KITCHEN
• WOOD CABINETRY
• FIRST-FLOOR LAUNDRY

Property features AI

Finance

• Other: Residential zoning; Located in Bond Hill; directions: Paddock or Reading Rd to Franklin Ave
• HOA & community: No HOA

Exterior

• Parking: Driveway parking
• Utilities: Public water; Public sewer; Natural gas
• Home design: Traditional single-family home; Three or more levels; Stone foundation; Shingle roof
• Construction: Aluminum siding
• Exterior features: Porch; Yard on a lot under 0.5 acre (about 0.19 acre)

Interior

• Kitchen: Vinyl flooring; Wood cabinets; Includes garbage disposal, oven/range and refrigerator
• Bedrooms: Three bedrooms (all on upper level) — Primary: 13 x 11 with fireplace; Bedroom 2: 13 x 11; Bedroom 3: 11 x 9
• Flooring: Wood flooring in living room; Laminate flooring in dining room; Vinyl flooring in kitchen; Wall-to-wall carpet in study
• Bathrooms: Two full bathrooms (one on first level, one on second level)
• Heating & cooling: Gas heating; Central air conditioning; Gas water heating
• Interior features: Seven total rooms; Two fireplaces with brick surrounds; Full unfinished basement
• Laundry & utility: Basement utility space

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Cap rate 9.0% 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 (+6.6%/yr); 44 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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 $1,788/mo this rent would consume 48% of the median local household income ($45k/yr) (locally 1467% 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 $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $43k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 $66k; list at $155k implies a 135% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,000

Questions for the listing agent

1. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.15% ✓
• Cap rate: 8.98%
• Cash-on-cash: 9.61%
• DSCR: 1.43
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $244,416
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1227 Carolina Ave	0.11mi	4/2.5	1,674 (+4%)	2mo	$254,900	$152	86
1144 Carolina Ave	0.22mi	3/2.0 (-1)	1,592 (-1%)	2mo	$205,000	$129	80
1231 Carolina Ave	0.11mi	3/1.5 (-1)	1,481 (-8%)	1mo	$235,000	$159	72
1307 Regent Ave	0.16mi	3/2.0 (-1)	1,476 (-8%)	1mo	$215,000	$146	71
1310 Franklin Ave	0.04mi	3/2.0 (-1)	1,842 (+15%)	3mo	$189,900	$103	64
4822 Yarmouth Pl	0.32mi	3/1.5 (-1)	1,532 (-5%)	8mo	$220,000	$144	61
1108 Ryland Ave	0.42mi	3/2.5 (-1)	1,495 (-7%)	8mo	$268,000	$179	57
1858 Garden Ln	0.66mi	3/1.5 (-1)	1,496 (-7%)	2mo	$214,300	$143	47
5120 Lillian Dr	0.73mi	3/2.0 (-1)	1,676 (+4%)	9mo	$211,000	$126	45
1847 Andina Ave	0.65mi	3/2.0 (-1)	1,420 (-12%)	3mo	$215,500	$152	41
1801 Northcut Ave	0.55mi	3/1.5 (-1)	1,420 (-12%)	8mo	$285,000	$201	39
1718 Bella Vista St	0.59mi	3/1.0 (-1)	1,822 (+13%)	1mo	$292,000	$160	39

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 · 6.62% rent growth · sell at horizon

5-year hold

• IRR: 2.2%
• Equity multiple: 1.09×
• Total profit: $3,792
• Equity at exit: $23,111

10-year hold

• IRR: 15.0%
• Equity multiple: 2.42×
• Total profit: $61,737
• Equity at exit: $13,402

Cash invested: $43,400 (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 45237

• Home prices YoY: -33.0%
• Rents YoY: 6.6%
• Active inventory: 44
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,788 high
• Mortgage (P&I): −$813
• Tax from tax record: −$187 /mo · $2,250/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $348

Break-even live

Break-even rent $1,348

Max offer price $155,000

Occupancy floor 76%

Sensitivity live

Price	-10% $435	-5% $391	+0% $348	+5% $304	+10% $260
Rent	-10% $206	-5% $277	+0% $348	+5% $418	+10% $489
Rate	-1.0pp $426	-0.5pp $387	base $348	+0.5pp $307	+1.0pp $267

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5217 Rhode Island Ave Cincinnati, OH	3.0	2.0	1739	$1,795	$1.03	24d	1	0.85mi
1709 Sherman Ave Unit 2 Cincinnati, OH	4.0	2.0	1500	$2,300	$1.53	2d	1	0.96mi
5912 Elmwood Ave Cincinnati, OH	3.0	1.0	1323	$1,450	$1.10	4d	1	1.02mi
5135 Globe Ave Cincinnati, OH	3.0	2.0	1697	$1,895	$1.12	8d	1	1.06mi
5121 Silver St Cincinnati, OH	3.0	2.0	1600	$1,695	$1.06	24d	1	1.12mi
1607 Asmann Ave Cincinnati, OH	1.0–4.0	1.0–1.5	1069	$1,695	$1.58	13d	6	1.17mi
6655 Vine St Cincinnati, OH	4.0	1.5	1550	$1,800	$1.16	24d	1	1.29mi
113 W 66th St Cincinnati, OH	3.0	2.0	1166	$1,800	$1.54	5d	1	1.33mi
4133 Huston Ave Cincinnati, OH	3.0	1.0	1210	$1,725	$1.43	13d	1	1.36mi
4133 Huston Ave Cincinnati, OH	3.0	1.0	1210	$1,725	$1.43	44d	1	1.36mi
6118 Stover Ave Apt 2 Cincinnati, OH	4.0	1.5	1050	$1,395	$1.33	24d	1	1.46mi

Listing history 6 events

1. 2026-06-18
   days on market $155,000 Active 6 DOM
2. 2026-06-17
   days on market $155,000 Active 5 DOM
3. 2026-06-16
   days on market $155,000 Active 4 DOM
4. 2026-06-15
   days on market $155,000 Active 3 DOM
5. 2026-06-13
   remarks 695-char remark
6. 2026-06-13
   listed $155,000 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: $2,250 · $187/mo
• Projected year-2 tax: $2,334 · $194/mo
• Expected delta: +$84/yr (+$7/mo · 3.7%)

ⓘ 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 5/10 Major 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: $21,455
• − Mortgage interest: −$8,682
• − Property taxes: −$2,250
• − Insurance: −$775
• − Repairs & maintenance: −$1,716
• − Management: −$1,716
• − Depreciation: −$4,509
• Taxable income: $1,806
• Est. tax owed @ 24.0%: −$433
• After-tax cash flow: $3,737/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): 20,903
• Household income: $44,913
• Rent vs Own: 52.3% rent · 47.7% own
• Severe rent burden: 1467.0

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 (71%)
• Race & ethnicity: Black 71% White 22% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 2% Italian 1% Scotch-Irish 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -110.54%
• Current HPI: 224.4728
• Rent YoY: ▲ 6.62%
• 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

+342.9% since first listed

8 events — show timeline

• 2026-06-13 Listed $155,000 Cincy MLS
• 2004-05-12 Sold (Public Records) $66,000 Public Records
• 2004-03-26 Sold (MLS) $66,000 Cincy MLS
• 2004-01-14 Listed $66,400 Cincy MLS
• 1999-08-25 Sold (Public Records) $90,000 Public Records
• 1999-08-20 Sold (MLS) $85,000 Cincy MLS
• 1999-06-10 Listed $89,900 Cincy MLS
• 1984-04-01 Sold (Public Records) $35,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $2,250 · +3.1% YoY. Source: county tax records.