4163 Harrison Ave · Cheviot, OH 45211

$1,490,000

24 bd · None ba · 12,480 sqft · MultiFamily · 51 Days on market

Built 1965 0.38 ac 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 +25.0/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• 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 (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

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

Turn-key sixteen unit building in Cheviot. 100% occupied. Built in 1965. There are 11 one bedroom units (580 sq ft) and 5 two bedroom units (980 sq ft). Each unit has wall unit a/c's. Secured building entry. Balcony is available for certain units. Each unit heated by baseboard heaters. Coin operated laundry room is in the lower level of the building. Storage units are available for all units in the lower level of the building. Off street parking is available for tenants. The small area currently used by the tenants for parking to the West of the property, as roughly depicted on the attached aerial photo, is not part of the property being conveyed and is not subject to an easement benefiting the property. It has been used for parking by the owner's tenants with permission from the owner of 4165 Harrison Avenue, Cincinnati, Ohio 45211

Key facts

• Off street parking
• Turn-key building
• 0.38 acre lot

Tags

• TURN-KEY BUILDING
• SECURED BUILDING ENTRY
• COIN OPERATED LAUNDRY ROOM
• STORAGE UNITS AVAILABLE
• OFF STREET PARKING

Property features AI

Finance

• Financial info: Rents listed: one-bedroom units $570, two-bedroom units $700

Exterior

• Parking: 16 open parking spaces; Off-street parking and on-street parking; Asphalt parking surfaces
• Utilities: Public water; Public sewer; Natural gas service
• Home design: Multi-family property; Single building containing all units
• Construction: Brick construction; Metal roof; Poured foundation; Built on one building
• Exterior features: Aluminum windows; Asphalt, off-street, and on-street parking areas

Interior

• Bedrooms: 16 total units (8 one-bedroom units, 8 two-bedroom units)
• Heating & cooling: Gas heating with hot water systems; Wall unit air conditioning; Owner pays heat and water; Separate gas/electric utilities per unit; No separate furnaces
• Interior features: Storage area; Full basement; Coin laundry
• Laundry & utility: Coin laundry available

What this means for you Summary

Snapshot

• This is a 24-bed/?-bath multifamily listed at $1.49M.

Deal economics

• At list price, monthly cash flow is $3k ($39k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $1.49M).
• Recommended offer: $1.45M (3.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 5.0% in Cheviot — 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 78/100 on livability (#163 in OH, #2,446 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime C-, amenities D, employment 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.
• Zoned schools: Roberts Academy (math 16% / reading 22%, grade F, #1,320 of 1,584 statewide, top 83%, 765 students, 0% FRL); Hartwell School (math 17% / reading 31%, grade F, #593 of 654 statewide, top 91%, 447 students, 0% FRL); Walnut Hills High School (math 79% / reading 89%, grade A, #17 of 781 statewide, top 2%, 2,582 students, 14% FRL) — zoned schools average 5% FRL vs 70% district-wide (66 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.6%/yr); 81 active listings in the ZIP; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $16,823/mo this rent would consume 375% of the median local household income ($54k/yr) (locally 1916% 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 $10k of loan paydown is wiped out by about $45k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($1.45M) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 16y ago; this cycle's ask is 186150% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $383k; list at $1.49M implies a 289% gain — meaningful room to come down on a strong offer.

Recommended offer $1,445,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.13% ✓
• Cap rate: 8.91%
• Cash-on-cash: 9.35%
• DSCR: 1.42
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.64% rent growth · sell at horizon

5-year hold

• IRR: -1.5%
• Equity multiple: 0.94×
• Total profit: $-23,478
• Equity at exit: $222,164

10-year hold

• IRR: 8.9%
• Equity multiple: 1.70×
• Total profit: $291,773
• Equity at exit: $128,828

Cash invested: $417,200 (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 45211

• Home prices YoY: -32.0%
• Rents YoY: 3.6%
• Active inventory: 81
• Price-to-rent: 120.9×

Monthly cashflow live

• Estimated rent: $16,823 high
• Mortgage (P&I): −$7,814
• Tax from tax record: −$1,606 /mo · $19,272/yr
• Insurance: −$621
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,533
• Net cashflow: $3,250

Break-even live

Break-even rent $12,710

Max offer price $1,490,000

Occupancy floor 76%

Sensitivity live

Price	-10% $4,093	-5% $3,671	+0% $3,250	+5% $2,828	+10% $2,406
Rent	-10% $1,921	-5% $2,585	+0% $3,250	+5% $3,914	+10% $4,579
Rate	-1.0pp $4,000	-0.5pp $3,629	base $3,250	+0.5pp $2,863	+1.0pp $2,471

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

Units	Beds	Baths	Est. rent
▸ 8× units	1	1	$8,216
▸ 8× units	2	1	$8,608
Total (16 units)			$16,823

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: $372,500
• Closing costs: $44,700
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-21
   days on market $1,490,000 Active 51 DOM
2. 2026-06-18
   days on market $1,490,000 Active 48 DOM
3. 2026-06-17
   days on market $1,490,000 Active 47 DOM
4. 2026-06-16
   days on market $1,490,000 Active 46 DOM
5. 2026-06-15
   days on market $1,490,000 Active 45 DOM
6. 2026-06-13
   days on market $1,490,000 Active 43 DOM
7. 2026-06-13
   days on market $1,490,000 Active 42 DOM
8. 2026-06-09
   days on market $1,490,000 Active 39 DOM
9. 2026-06-08
   days on market $1,490,000 Active 38 DOM
10. 2026-06-07
    days on market $1,490,000 Active 37 DOM
11. 2026-06-03
    days on market $1,490,000 Active 33 DOM
12. 2026-06-02
    days on market $1,490,000 Active 32 DOM
13. 2026-06-01
    days on market $1,490,000 Active 31 DOM
14. 2026-05-31
    days on market $1,490,000 Active 30 DOM
15. 2026-05-15
    historical $800
16. 2026-05-09
    listed $800
17. 2026-05-01
    listed $700
18. 2026-05-01
    listed $1,490,000 Active
19. 2026-04-30
    historical 845-char remark

    Show marketing remark (845 chars)

    Turn-key sixteen unit building in Cheviot. 100% occupied. Built in 1965. There are 11 one bedroom units (580 sq ft) and 5 two bedroom units (980 sq ft). Each unit has wall unit a/c's. Secured building entry. Balcony is available for certain units. Each unit heated by baseboard heaters. Coin operated laundry room is in the lower level of the building. Storage units are available for all units in the lower level of the building. Off street parking is available for tenants. The small area currently used by the tenants for parking to the West of the property, as roughly depicted on the attached aerial photo, is not part of the property being conveyed and is not subject to an easement benefiting the property. It has been used for parking by the owner's tenants with permission from the owner of 4165 Harrison Avenue, Cincinnati, Ohio 45211

20. 2026-02-12
    price $1,560,000 845-char remark

    Show marketing remark (845 chars)

    Turn-key sixteen unit building in Cheviot. 100% occupied. Built in 1965. There are 11 one bedroom units (580 sq ft) and 5 two bedroom units (980 sq ft). Each unit has wall unit a/c's. Secured building entry. Balcony is available for certain units. Each unit heated by baseboard heaters. Coin operated laundry room is in the lower level of the building. Storage units are available for all units in the lower level of the building. Off street parking is available for tenants. The small area currently used by the tenants for parking to the West of the property, as roughly depicted on the attached aerial photo, is not part of the property being conveyed and is not subject to an easement benefiting the property. It has been used for parking by the owner's tenants with permission from the owner of 4165 Harrison Avenue, Cincinnati, Ohio 45211

21. 2025-10-17
    listed $1,760,000 Active 845-char remark

    Show marketing remark (845 chars)

    Turn-key sixteen unit building in Cheviot. 100% occupied. Built in 1965. There are 11 one bedroom units (580 sq ft) and 5 two bedroom units (980 sq ft). Each unit has wall unit a/c's. Secured building entry. Balcony is available for certain units. Each unit heated by baseboard heaters. Coin operated laundry room is in the lower level of the building. Storage units are available for all units in the lower level of the building. Off street parking is available for tenants. The small area currently used by the tenants for parking to the West of the property, as roughly depicted on the attached aerial photo, is not part of the property being conveyed and is not subject to an easement benefiting the property. It has been used for parking by the owner's tenants with permission from the owner of 4165 Harrison Avenue, Cincinnati, Ohio 45211

22. 2025-09-21
    historical $625
23. 2025-07-25
    listed $625
24. 2024-10-19
    historical $725
25. 2024-10-17
    listed $725
26. 2024-09-28
    historical $675
27. 2024-09-28
    listed $675
28. 2024-09-13
    historical $675
29. 2024-09-12
    listed $675
30. 2024-08-22
    historical $725
31. 2024-07-23
    historical $725
32. 2024-07-23
    listed $725
33. 2024-07-05
    listed $600
34. 2024-05-28
    historical $600
35. 2024-05-23
    listed $600
36. 2024-05-08
    historical $600
37. 2024-05-08
    historical $600
38. 2024-05-08
    listed $600
39. 2024-05-08
    listed $700
40. 2024-02-20
    historical $625
41. 2024-02-07
    listed $625
42. 2023-10-11
    historical $600
43. 2023-10-10
    listed $600
44. 2011-03-17
    soldstatus $383,000
45. 2011-03-15
    soldstatus $383,000 157-char remark

    Show marketing remark (157 chars)

    Sixteen unit brick building, 8 one bedroom units and 8 two bedroom units. Off street parking, extra storage, laundry, updated electric. Tenants pay electric.

46. 2011-01-31
    listed $395,000 157-char remark

    Show marketing remark (157 chars)

    Sixteen unit brick building, 8 one bedroom units and 8 two bedroom units. Off street parking, extra storage, laundry, updated electric. Tenants pay electric.

47. 2010-11-20
    historical
48. 2010-07-01
    listed $430,000
49. 2002-02-14
    soldstatus $430,000
50. 1986-02-14
    soldstatus $280,000

ⓘ 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: $19,272 · $1,606/mo
• Projected year-2 tax: $21,258 · $1,772/mo
• Expected delta: +$1,986/yr (+$165/mo · 10.3%)

ⓘ 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 ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $201,876
• − Mortgage interest: −$83,463
• − Property taxes: −$19,272
• − Insurance: −$7,450
• − Repairs & maintenance: −$16,150
• − Management: −$16,150
• − Depreciation: −$43,345
• Taxable income: $16,045
• Est. tax owed @ 24.0%: −$3,851
• After-tax cash flow: $35,144/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 — Cheviot

• Score: 78/100
• State rank: #163
• US rank: #2446

Category grades

Amenities D Commute A+ Cost of living A+ Crime C- Employment F Housing A+ Health & safety B User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cheviot, OH
• County: Hamilton County · 701,295 people
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 38,049
• Household income: $53,868
• Rent vs Own: 47.5% rent · 52.5% own
• Severe rent burden: 1916.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 50% Black 38% Two or more races 8% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Lithuanian 2% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 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: ▼ -101.15%
• Current HPI: 215.0659
• Rent YoY: ▲ 3.64%
• 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

+432.1% since first listed

36 events — show timeline

• 2026-05-15 Rental Removed $800 RENTALBEAST
• 2026-05-09 Listed for Rent $800 RENTALBEAST
• 2026-05-01 Listed for Rent $700 RENTALBEAST
• 2026-05-01 Listed $1,490,000 Cincy MLS
• 2026-04-30 Listing Removed — Cincy MLS
• 2026-02-12 Price Changed $1,560,000 Cincy MLS
• 2025-10-17 Listed $1,760,000 Cincy MLS
• 2025-09-21 Rental Removed $625 RENTALBEAST
• 2025-07-25 Listed for Rent $625 RENTALBEAST
• 2024-10-19 Rental Removed $725 RENTALBEAST
• 2024-10-17 Listed for Rent $725 RENTALBEAST
• 2024-09-28 Rental Removed $675 RENTALBEAST
• 2024-09-28 Listed for Rent $675 RENTALBEAST
• 2024-09-13 Rental Removed $675 LEASESTAR
• 2024-09-12 Listed for Rent $675 LEASESTAR
• 2024-08-22 Rental Removed $725 LEASESTAR
• 2024-07-23 Rental Removed $725 LEASESTAR
• 2024-07-23 Listed for Rent $725 LEASESTAR
• 2024-07-05 Listed for Rent $600 LEASESTAR
• 2024-05-28 Rental Removed $600 LEASESTAR
• 2024-05-23 Listed for Rent $600 LEASESTAR
• 2024-05-08 Rental Removed $600 LEASESTAR
• 2024-05-08 Rental Removed $600 LEASESTAR
• 2024-05-08 Listed for Rent $600 LEASESTAR
• 2024-05-08 Listed for Rent $700 LEASESTAR
• 2024-02-20 Rental Removed $625 LEASESTAR
• 2024-02-07 Listed for Rent $625 LEASESTAR
• 2023-10-11 Rental Removed $600 LEASESTAR
• 2023-10-10 Listed for Rent $600 LEASESTAR
• 2011-03-17 Sold (Public Records) $383,000 Public Records
• 2011-03-15 Sold (MLS) $383,000 Cincy MLS
• 2011-01-31 Listed $395,000 Cincy MLS
• 2010-11-20 Listing Removed — Cincy MLS
• 2010-07-01 Listed $430,000 Cincy MLS
• 2002-02-14 Sold (Public Records) $430,000 Public Records
• 1986-02-14 Sold (Public Records) $280,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $19,272 · +0.7% YoY. Source: county tax records.