4569 N Edgewood Ave · Cincinnati, OH 45232

$365,000

6 bd · 2.0 ba · 2,592 sqft · MultiFamily public records · 22 Days on market

Built 1895 5,785 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 +23.4/30.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Bring your investors. Great opportunity on this 4 unit dwelling. Large units with good income producing potential. Approved short sale in progress. Check it out!

Key facts

• New major plumbing
• New hvac
• In-unit laundry

Tags

• REVAMPED INTERIOR
• IN-UNIT LAUNDRY
• NEW MAJOR PLUMBING
• NEW ROOF
• NEW HVAC

Property features AI

Finance

• Financial info: Property configured as four rental units with reported 1-bedroom rents of $1,100 (per unit)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas
• Home design: Quadplex (four-unit building); Two stories
• Construction: Vinyl siding; Shingle roof; Poured foundation; Second-floor area present
• Exterior features: Front porch; Corner lot

Interior

• Kitchen: Standard kitchen in each unit
• Bedrooms: Four 1-bedroom units (each unit has 1 bedroom)
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning; Separate furnaces for units; Separate A/C units for units; Separate gas and electric metering
• Interior features: Coin laundry available on-site
• Laundry & utility: Coin laundry on the property

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $365k.

Deal economics

• At list price, monthly cash flow is $672 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $365k).
• Recommended offer: $360k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% 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: 3 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 $3,993/mo this rent would consume 190% of the median local household income ($25k/yr) — 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 $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($360k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 5y 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 $145k; list at $365k implies a 152% 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $359,525 (1.5% below list)

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 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: 1.09% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.89%
• DSCR: 1.35
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -4.3%
• Equity multiple: 0.84×
• Total profit: $-16,316
• Equity at exit: $54,423

10-year hold

• IRR: 5.4%
• Equity multiple: 1.40×
• Total profit: $41,041
• Equity at exit: $31,559

Cash invested: $102,200 (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 45232

• Active inventory: 3
• Price-to-rent: 30.5×

Monthly cashflow live

• Estimated rent: $3,993 high
• Mortgage (P&I): −$1,914
• Tax from tax record: −$416 /mo · $4,997/yr
• Insurance: −$152
• HOA: −$0
• Vacancy / Maint / Mgmt: −$839
• Net cashflow: $672

Break-even live

Break-even rent $3,142

Max offer price $365,000

Occupancy floor 78%

Sensitivity live

Price	-10% $879	-5% $775	+0% $672	+5% $569	+10% $465
Rent	-10% $356	-5% $514	+0% $672	+5% $830	+10% $987
Rate	-1.0pp $856	-0.5pp $765	base $672	+0.5pp $577	+1.0pp $481

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$3,992
Total (4 units)			$3,993

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-18
   days on market $365,000 Active 22 DOM
2. 2026-06-17
   days on market $365,000 Active 21 DOM
3. 2026-06-16
   days on market $365,000 Active 20 DOM
4. 2026-06-15
   days on market $365,000 Active 19 DOM
5. 2026-06-13
   days on market $365,000 Active 17 DOM
6. 2026-06-13
   days on market $365,000 Active 16 DOM
7. 2026-06-09
   days on market $365,000 Active 13 DOM
8. 2026-06-08
   days on market $365,000 Active 12 DOM
9. 2026-06-07
   days on market $365,000 Active 11 DOM
10. 2026-06-03
    days on market $365,000 Active 7 DOM
11. 2026-06-02
    days on market $365,000 Active 6 DOM
12. 2026-06-01
    days on market $365,000 Active 5 DOM
13. 2026-05-31
    days on market $365,000 Active 4 DOM
14. 2026-05-27
    listed $365,000 Active
15. 2025-02-07
    soldstatus $145,000 Sold 166-char remark

    Show marketing remark (166 chars)

    Bring your investors. Great opportunity on this 4 unit dwelling. Large units with good income producing potential. Approved short sale in progress. Check it out!

16. 2024-11-16
    historical Contingency Pending 166-char remark

    Show marketing remark (166 chars)

    Bring your investors. Great opportunity on this 4 unit dwelling. Large units with good income producing potential. Approved short sale in progress. Check it out!

17. 2024-11-07
    listed $150,000 Active 166-char remark

    Show marketing remark (166 chars)

    Bring your investors. Great opportunity on this 4 unit dwelling. Large units with good income producing potential. Approved short sale in progress. Check it out!

18. 2024-08-28
    historical 191-char remark

    Show marketing remark (191 chars)

    Turnkey investment. Great Quad building with Units ready to go. Cash Flow ready with more potential if you wish. 2 units rented and 2 more ready. Go Check out 2 of the units for yourself.

19. 2024-06-24
    historical Contingency Pending 191-char remark

    Show marketing remark (191 chars)

    Turnkey investment. Great Quad building with Units ready to go. Cash Flow ready with more potential if you wish. 2 units rented and 2 more ready. Go Check out 2 of the units for yourself.

20. 2024-06-14
    listed $265,000 Active 191-char remark

    Show marketing remark (191 chars)

    Turnkey investment. Great Quad building with Units ready to go. Cash Flow ready with more potential if you wish. 2 units rented and 2 more ready. Go Check out 2 of the units for yourself.

21. 2022-08-23
    soldstatus $220,000
22. 2022-08-16
    soldstatus $220,000 Sold
23. 2022-07-01
    historical Contingency Pending
24. 2022-06-22
    listed $210,000 Active
25. 2022-04-25
    historical Contingency Pending
26. 2022-04-25
    historical
27. 2022-04-22
    status Active
28. 2022-04-12
    historical Contingency Pending
29. 2022-04-07
    listed $229,000 Active
30. 2021-07-30
    soldstatus $92,000
31. 2021-07-23
    soldstatus $92,000 Sold
32. 2021-07-16
    historical Contingency Pending
33. 2021-07-14
    listed $89,900 Active
34. 2002-09-17
    soldstatus $90,000
35. 1998-11-10
    soldstatus $70,000
36. 1986-11-06
    soldstatus $37,500

ⓘ 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: $4,997 · $416/mo
• Projected year-2 tax: $5,345 · $445/mo
• Expected delta: +$349/yr (+$29/mo · 7.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 20 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: $47,916
• − Mortgage interest: −$20,446
• − Property taxes: −$4,997
• − Insurance: −$1,825
• − Repairs & maintenance: −$3,833
• − Management: −$3,833
• − Depreciation: −$10,618
• Taxable income: $2,364
• Est. tax owed @ 24.0%: −$567
• After-tax cash flow: $7,495/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 · 838,887 people
• City population: 505,555
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 7,257
• Household income: $25,232
• Rent vs Own: 79.5% rent · 20.5% own
• Severe rent burden: 9.0

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 (67%)
• Race & ethnicity: Black 67% White 19% Two or more races 12% Hispanic / Latino 6%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Russian 1% Italian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -136.12%
• Current HPI: 241.3706
• Rent YoY: —
• Metro: —
• 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

+873.3% since first listed

23 events — show timeline

• 2026-05-27 Listed $365,000 Cincy MLS
• 2025-02-07 Sold (MLS) $145,000 Cincy MLS
• 2024-11-16 Contingent — Cincy MLS
• 2024-11-07 Listed $150,000 Cincy MLS
• 2024-08-28 Listing Removed — Cincy MLS
• 2024-06-24 Contingent — Cincy MLS
• 2024-06-14 Listed $265,000 Cincy MLS
• 2022-08-23 Sold (Public Records) $220,000 Public Records
• 2022-08-16 Sold (MLS) $220,000 Cincy MLS
• 2022-07-01 Contingent — Cincy MLS
• 2022-06-22 Listed $210,000 Cincy MLS
• 2022-04-25 Contingent — Cincy MLS
• 2022-04-25 Listing Removed — Cincy MLS
• 2022-04-22 Relisted — Cincy MLS
• 2022-04-12 Contingent — Cincy MLS
• 2022-04-07 Listed $229,000 Cincy MLS
• 2021-07-30 Sold (Public Records) $92,000 Public Records
• 2021-07-23 Sold (MLS) $92,000 Cincy MLS
• 2021-07-16 Contingent — Cincy MLS
• 2021-07-14 Listed $89,900 Cincy MLS
• 2002-09-17 Sold (Public Records) $90,000 Public Records
• 1998-11-10 Sold (Public Records) $70,000 Public Records
• 1986-11-06 Sold (Public Records) $37,500 Public Records

Property tax history

+8.3%/yr

Latest (2025): $4,997 · +4.9% YoY. Source: county tax records.