7743 Reading Rd · Cincinnati, OH 45237

$3,799,999

None bd · None ba · 30,410 sqft · MultiFamily · 55 Days on market

Built 1947 Good condition 3.62 ac 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
• Rent growth +4.2/5.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Schools +2.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 86 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

Ellsbury Group is pleased to present The Bloks - an exceptional 86-unit investment opportunity located in the Roselawn neighborhood of Cincinnati. Priced aggressively at $3,799,999($44,186 per unit), this asset represents a strong addition to any multifamily portfolio. This turnkey opportunity consists of 86 fully remodeled studio apartments, totaling over 30,000 rentable square feet across four buildings situated on a spacious 3.6-acre site. Originally built in 1947, the property underwent a comprehensive interior and exterior renovation in 2023, delivering modern, efficient living spaces while maintaining a quiet residential character throughout the community. Its location offers strong

Key facts

• Spacious site
• Turnkey opportunity
• 3.62 acre lot

Tags

• INVESTMENT OPPORTUNITY
• TURNKEY OPPORTUNITY
• SPACIOUS SITE
• QUIET RESIDENTIAL CHARACTER

Property features AI

Finance

• Other: Four buildings on the parcel; Lot size about 3.624 acres; Semi-annual taxes listed (for reference)
• Financial info: 86 total units, all efficiencies with listed efficiency rent around $660; Owner currently pays heat and water
• HOA & community: Maintenance expense approximately $24,000

Exterior

• Parking: Approximately 60 open parking spaces; Off-street parking on-site
• Utilities: Public water; Public sewer; Natural gas; Gas and electric accounted (recorded value present)
• Home design: Two-story building; Brick construction
• Construction: Brick construction; Shingle roof; Poured foundation
• Exterior features: Vinyl windows; Asphalt lot with off-street parking

Interior

• Kitchen: Efficiency units with basic kitchenettes (rent listed separately)
• Bedrooms: 86 efficiency units (studios)
• Heating & cooling: Steam heating (owner pays heat); Wall unit cooling
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 86 × 1-bed/1-bath units multifamily listed at $3.80M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $32k ($387k/yr) — positive. Per door: $375/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($74k rent vs $3.80M).
• Recommended offer: $3.69M (3.0% below list) — sets the bar for market timing.
• Cap rate 16.5% 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 (+6.6%/yr); 44 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 $74,055/mo this rent would consume 1979% 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 $26k of loan paydown is wiped out by about $114k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $1.06M cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($3.69M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $3,685,999 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% 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 1947 — 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: 1.95% ✓
• Cap rate: 16.47%
• Cash-on-cash: 36.36%
• DSCR: 2.62
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.62% rent growth · sell at horizon

5-year hold

• IRR: 36.2%
• Equity multiple: 2.62×
• Total profit: $1,718,421
• Equity at exit: $566,592

10-year hold

• IRR: 44.7%
• Equity multiple: 6.06×
• Total profit: $5,381,010
• Equity at exit: $328,554

Cash invested: $1,064,000 (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: 367.7×

Monthly cashflow live

• Estimated rent: $74,055 medium
• Mortgage (P&I): −$19,928
• Tax est. 1.5%: −$4,750 /mo · $57,000/yr
• Insurance: −$1,583
• HOA: −$0
• Vacancy / Maint / Mgmt: −$15,552
• Net cashflow: $32,243

Break-even live

Break-even rent $33,242

Max offer price $3,799,999

Occupancy floor 51%

Sensitivity live

Price	-10% $34,869	-5% $33,556	+0% $32,243	+5% $30,929	+10% $29,616
Rent	-10% $26,392	-5% $29,317	+0% $32,243	+5% $35,168	+10% $38,093
Rate	-1.0pp $34,156	-0.5pp $33,209	base $32,243	+0.5pp $31,258	+1.0pp $30,256

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

Units	Beds	Baths	Est. rent
▸ 86× units	1	1	$74,046
Total (86 units)			$74,055

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: $950,000
• Closing costs: $114,000
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $3,799,999 Active 55 DOM
2. 2026-06-18
   days on market $3,799,999 Active 52 DOM
3. 2026-06-17
   days on market $3,799,999 Active 51 DOM
4. 2026-06-16
   days on market $3,799,999 Active 50 DOM
5. 2026-06-15
   days on market $3,799,999 Active 49 DOM
6. 2026-06-13
   days on market $3,799,999 Active 47 DOM
7. 2026-06-13
   days on market $3,799,999 Active 46 DOM
8. 2026-06-09
   days on market $3,799,999 Active 43 DOM
9. 2026-06-08
   days on market $3,799,999 Active 42 DOM
10. 2026-06-07
    days on market $3,799,999 Active 41 DOM
11. 2026-06-03
    days on market $3,799,999 Active 37 DOM
12. 2026-06-02
    days on market $3,799,999 Active 36 DOM
13. 2026-06-01
    days on market $3,799,999 Active 35 DOM
14. 2026-05-31
    days on market $3,799,999 Active 34 DOM
15. 2026-04-27
    listed $3,799,999 Active
16. 2022-11-18
    historical

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

Taxation est. · year 1

• Rental income: $888,660
• − Mortgage interest: −$212,859
• − Property taxes: −$57,000
• − Insurance: −$19,000
• − Repairs & maintenance: −$71,093
• − Management: −$71,093
• − Depreciation: −$110,545
• Taxable income: $347,070
• Est. tax owed @ 24.0%: −$83,297
• After-tax cash flow: $303,613/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This multi-family property is in good condition with a cosmetic rehab, offering a strong investment opportunity with potential for further value enhancement.

Value-add opportunities

• Both Painting and minor touch-ups throughout the units — Fresh paint can enhance the appearance and appeal of the units.
• Both New flooring in select units — New flooring can improve the overall look and feel of the units.
• Both Upgrading to smart home technology — Smart home features can increase both resale and rental value by offering modern conveniences to potential buyers and tenants.
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract more potential buyers and tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting and minor touch-ups throughout the units — Fresh paint can enhance the appearance and appeal of the units. ↑
• Both New flooring in select units — New flooring can improve the overall look and feel of the units. ↑
• Both Upgrading to smart home technology — Smart home features can increase both resale and rental value by offering modern conveniences to potential buyers and tenants. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract more potential buyers and tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

2 events — show timeline

• 2026-04-27 Listed $3,799,999 Cincy MLS
• 2022-11-18 Rental Removed — RENT.