2231 Burnet Dr · Cincinnati, OH 45219

$250,000

5 bd · 3.0 ba · 2,688 sqft · MultiFamily public records · 202 Days on market

Built 1897 Est $280k · 11% 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 +30.0/30.0
• ARV discount +12.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Needs some work but reflected by price, sold AS IS no disclosures, no warranties, special addendums and conditions required. 2688 sq ft per CH records.

Key facts

• Built 1897
• Listed 202 days

Tags

• OPEN LIVING AND DINING ROOM
• MINUTES FROM DOWNTOWN
• INVESTMENT OPPORTUNITY

Property features AI

Finance

• Financial info: Both 1-bedroom units currently listed with rent of $650 each

Exterior

• Parking: Driveway
• Utilities: Public water (tenant pays water); Public sewer; Natural gas
• Home design: Duplex; Two levels
• Construction: Shingle roof; Poured foundation
• Exterior features: Vinyl windows; Vinyl siding

Interior

• Bedrooms: Two 1-bedroom units (one 1-bedroom in each unit)
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Gas heating (tenant pays heat); Window AC units
• Interior features: Full basement; Inoperable fireplace

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $741/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.4% 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 (+2.1%/yr); 71 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $4,075/mo this rent would consume 137% of the median local household income ($36k/yr) (locally 2461% 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 $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.1% rent growth), your $70k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 202 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 24y ago; this cycle's ask has dropped $40k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $19k; list at $250k implies a 1216% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $220,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 202 days. Have you received any prior offers? Is the seller open to a 12% 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 1897 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.63% ✓
• Cap rate: 13.41%
• Cash-on-cash: 25.42%
• DSCR: 2.13
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $279,552
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2228 Reading Rd	0.11mi	5/3.0	2,640 (-2%)	8mo	$274,000	$104	85
2111 Burnet Ave	0.15mi	5/3.0	2,643 (-2%)	11mo	$375,000	$142	81
2322 Maplewood Ave	0.15mi	5/3.0	2,455 (-9%)	10mo	$290,000	$118	70
311 Hilton Pl	0.44mi	4/3.0 (-1)	2,681 (-0%)	5mo	$190,000	$71	70
321 Helen St	0.13mi	5/—	3,070 (+14%)	4mo	$490,000	$160	67
260 Earnshaw Ave	0.13mi	5/2.0	2,446 (-9%)	14mo	$89,000	$36	63
2325 Reading Rd	0.14mi	4/3.0 (-1)	3,002 (+12%)	9mo	$365,000	$122	61
312 Mcgregor Ave	0.09mi	4/— (-1)	2,919 (+9%)	22mo	$180,000	$62	59
124 Valencia St	0.50mi	6/2.0 (+1)	2,339 (-13%)	22mo	$100,000	$43	27

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 · 2.07% rent growth · sell at horizon

5-year hold

• IRR: 17.9%
• Equity multiple: 1.72×
• Total profit: $50,218
• Equity at exit: $37,276

10-year hold

• IRR: 25.7%
• Equity multiple: 3.15×
• Total profit: $150,391
• Equity at exit: $21,615

Cash invested: $70,000 (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 45219

• Home prices YoY: -28.3%
• Rents YoY: 2.1%
• Active inventory: 71
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $4,075 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$321 /mo · $3,855/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$856
• Net cashflow: $1,483

Break-even live

Break-even rent $2,198

Max offer price $250,000

Occupancy floor 59%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$4,076
Total (2 units)			$4,075

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2105 Burnet Ave Unit 1056017P Cincinnati, OH	4.0	2.0	2960	$7,384	$2.49	2d	1	0.18mi
258 Dorchester Ave Unit 1056079P Cincinnati, OH	6.0	3.0	3498	$7,661	$2.19	15d	1	0.33mi
2271 Vine St Cincinnati, OH	4.0	2.0	2268	$1,525	$0.67	4d	1	0.65mi
2813 Gerard St Unit 1540075P Cincinnati, OH	4.0	3.0	2152	$6,281	$2.92	20d	1	0.68mi
241 E University Ave Cincinnati, OH	5.0	2.0	1836	$4,000	$2.18	24d	1	0.71mi
1354 Broadway Unit 1056136P Cincinnati, OH	4.0	3.0	2529	$7,307	$2.89	3d	1	0.74mi
2800 Jefferson Ave Cincinnati, OH	4.0	2.0	2500	$625	$0.25	20d	1	0.80mi
516 E 12th St Unit 1314562P Cincinnati, OH	4.0	2.0	2023	$10,170	$5.03	24d	1	0.83mi
1304 Broadway Unit 1056130P Cincinnati, OH	1.0–5.0	1.0–4.0	2072	$8,495	$4.10	11d	2	0.84mi
126 E 13th St Unit 1056025P Cincinnati, OH	5.0	4.0	2960	$5,339	$1.80	3d	1	0.96mi
111 W Elder St Unit 1056044P Cincinnati, OH	1.0–4.0	1.0–4.0	1835	$7,140	$3.89	11d	2	0.97mi
120 E 13th St Unit 1056091P Cincinnati, OH	4.0	2.0	3229	$10,667	$3.30	21d	1	0.97mi
122 W Elder St Unit 1056110P Cincinnati, OH	5.0	3.0	3444	$7,875	$2.29	2d	1	0.99mi
1537 Republic St Unit 1058850P Cincinnati, OH	4.0	3.0	2421	$10,677	$4.41	21d	1	0.99mi
1610 Pleasant St Unit 1056041P Cincinnati, OH	3.0–4.0	2.0–3.0	2960	$7,037	$2.38	11d	2	1.02mi
2317 Chickasaw St Cincinnati, OH	5.0	2.0	2826	$2,750	$0.97	15d	1	1.07mi
1424 Pleasant St Unit 1056038P Cincinnati, OH	4.0	3.0	2960	$7,167	$2.42	15d	1	1.10mi
2235 Victor St Cincinnati, OH	4.0	2.0	2043	$2,250	$1.10	24d	1	1.15mi
3028 Gilbert Ave Cincinnati, OH	5.0	1.5	1936	$1,700	$0.88	20d	1	1.33mi
2421 Fairview Ave Cincinnati, OH	5.0	2.0	2400	$3,300	$1.38	24d	1	1.42mi

Listing history 19 events

1. 2026-06-09
   days on market $250,000 Active 202 DOM
2. 2026-06-08
   days on market $250,000 Active 201 DOM
3. 2026-06-07
   days on market $250,000 Active 200 DOM
4. 2026-06-03
   days on market $250,000 Active 196 DOM
5. 2026-06-02
   days on market $250,000 Active 195 DOM
6. 2026-06-01
   days on market $250,000 Active 194 DOM
7. 2026-05-31
   days on market $250,000 Active 193 DOM
8. 2025-12-12
   price $250,000
9. 2025-11-19
   listed $290,000 Active
10. 2008-03-07
    soldstatus $19,000 151-char remark

    Show marketing remark (151 chars)

    Needs some work but reflected by price, sold AS IS no disclosures, no warranties, special addendums and conditions required. 2688 sq ft per CH records.

11. 2007-10-22
    listed $19,900 151-char remark

    Show marketing remark (151 chars)

    Needs some work but reflected by price, sold AS IS no disclosures, no warranties, special addendums and conditions required. 2688 sq ft per CH records.

12. 2007-05-01
    historical
13. 2006-10-30
    listed $129,000
14. 2006-05-25
    soldstatus $120,000
15. 2006-02-06
    historical
16. 2006-01-27
    listed $120,000
17. 2002-12-30
    soldstatus $35,000
18. 2002-11-13
    listed $37,500
19. 1988-10-03
    soldstatus $58,000

ⓘ 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: $3,855 · $321/mo
• Projected year-2 tax: $3,878 · $323/mo
• Expected delta: +$22/yr (+$2/mo · 0.6%)

ⓘ 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,900
• − Mortgage interest: −$14,004
• − Property taxes: −$3,855
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,912
• − Management: −$3,912
• − Depreciation: −$7,273
• Taxable income: $14,694
• Est. tax owed @ 24.0%: −$3,527
• After-tax cash flow: $14,267/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): 20,012
• Household income: $35,657
• Rent vs Own: 82.9% rent · 17.1% own
• Severe rent burden: 2461.0

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 White (67%)
• Race & ethnicity: White 67% Black 16% Asian 7% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Romanian 3% Italian 2% Slovak 1%
• Foreign-born: 10% · China, Canada
• Languages at home: 88% English-only · Chinese 3% Spanish 2% Other Indo-European 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: ▼ -134.46%
• Current HPI: 340.1262
• Rent YoY: ▲ 2.07%
• 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

+331.0% since first listed

12 events — show timeline

• 2025-12-12 Price Changed $250,000 Cincy MLS
• 2025-11-19 Listed $290,000 Cincy MLS
• 2008-03-07 Sold (MLS) $19,000 Cincy MLS
• 2007-10-22 Listed $19,900 Cincy MLS
• 2007-05-01 Listing Removed — Cincy MLS
• 2006-10-30 Listed $129,000 Cincy MLS
• 2006-05-25 Sold (Public Records) $120,000 Public Records
• 2006-02-06 Listing Removed — Cincy MLS
• 2006-01-27 Listed $120,000 Cincy MLS
• 2002-12-30 Sold (MLS) $35,000 Cincy MLS
• 2002-11-13 Listed $37,500 Cincy MLS
• 1988-10-03 Sold (Public Records) $58,000 Public Records

Property tax history

+9.4%/yr

Latest (2025): $3,855 · +0.6% YoY. Source: county tax records.