4669 Kirby Ave · Cincinnati, OH 45223

$144,900

4 bd · 2.0 ba · 2,330 sqft · MultiFamily public records · 90 Days on market

Built 1953 6,447 sqft lot Est $140k · at est.

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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 +5.9/15.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• 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

Great duplex opportunity in Cincinnati! This income-producing property offers two units with a functional layout, making it ideal for investors or owner-occupants looking to offset their mortgage with rental income. Conveniently located near shopping, parks, schools, and major highways, providing easy access to downtown and surrounding neighborhoods. A fantastic opportunity to add a solid property to your portfolio!

Key facts

• Easy access
• Two units
• Functional layout

Tags

• DUPLEX OPPORTUNITY
• INCOME PRODUCING PROPERTY
• TWO UNITS
• FUNCTIONAL LAYOUT
• CONVENIENTLY LOCATED
• EASY ACCESS

Property features AI

Finance

• Financial info: Two total units; Two efficiency units listed (910 sq. ft. noted separately in source)

Exterior

• Parking: Driveway with 2 open parking spaces
• Utilities: Public water; Public sewer; Natural gas
• Home design: Duplex; One and one-half stories; Poured foundation
• Construction: Brick construction; Shingle roof
• Exterior features: Casement windows; Residential zoning

Interior

• Bedrooms: Two 2-bedroom units (duplex)
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Gas heating
• Interior features: Full basement; Wood-burning fireplace

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $145k.

Deal economics

• At list price, monthly cash flow is $962 ($12k/yr) — positive. Per door: $481/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $145k).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.7% 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 (+16.7%/yr); 46 active listings in the ZIP; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $2,682/mo this rent would consume 65% of the median local household income ($49k/yr) (locally 943% 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 $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $41k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 24y ago; this cycle's ask has dropped $25k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,206 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% 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 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.85% ✓
• Cap rate: 14.72%
• Cash-on-cash: 30.11%
• DSCR: 2.34
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $139,800
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4686 Hamilton Ave	0.31mi	4/2.0	2,351 (+1%)	21mo	$140,000	$60	67
1663 Bruce Ave #2	0.64mi	4/2.0	2,515 (+8%)	10mo	$348,750	$139	49
4215 Kirby Ave	0.72mi	4/—	2,242 (-4%)	16mo	$106,000	$47	47

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 28.7%
• Equity multiple: 2.28×
• Total profit: $52,131
• Equity at exit: $21,605

10-year hold

• IRR: 39.1%
• Equity multiple: 5.67×
• Total profit: $189,392
• Equity at exit: $12,528

Cash invested: $40,572 (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 45223

• Rents YoY: 16.7%
• Active inventory: 46
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,682 high
• Mortgage (P&I): −$760
• Tax from tax record: −$281 /mo · $3,366/yr
• Insurance: −$60
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$563
• Net cashflow: $962

Break-even live

Break-even rent $1,464

Max offer price $144,900

Occupancy floor 59%

Sensitivity live

Price	-10% $1,045	-5% $1,004	+0% $962	+5% $921	+10% $880
Rent	-10% $751	-5% $857	+0% $962	+5% $1,068	+10% $1,174
Rate	-1.0pp $1,035	-0.5pp $999	base $962	+0.5pp $925	+1.0pp $887

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,682
Total (2 units)			$2,682

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-18
   days on market $144,900 Active 90 DOM
2. 2026-06-17
   days on market $144,900 Active 89 DOM
3. 2026-06-16
   days on market $144,900 Active 88 DOM
4. 2026-06-15
   days on market $144,900 Active 87 DOM
5. 2026-06-13
   days on market $144,900 Active 85 DOM
6. 2026-06-13
   days on market $144,900 Active 84 DOM
7. 2026-06-09
   days on market $144,900 Active 81 DOM
8. 2026-06-08
   days on market $144,900 Active 80 DOM
9. 2026-06-07
   pricedays on market $144,900 Active 79 DOM
10. 2026-06-03
    days on market $154,900 Active 75 DOM
11. 2026-06-02
    days on market $154,900 Active 74 DOM
12. 2026-06-01
    days on market $154,900 Active 73 DOM
13. 2026-05-31
    days on market $154,900 Active 72 DOM
14. 2026-05-22
    price $154,900
15. 2026-05-09
    price $164,900
16. 2026-03-20
    listed $169,900 Active
17. 2018-07-25
    soldstatus $357,900
18. 2012-01-20
    historical
19. 2011-07-20
    listed $49,900
20. 2011-01-19
    historical
21. 2010-07-19
    listed $49,000
22. 2009-05-01
    soldstatus $10,000
23. 2009-01-05
    listed $15,300
24. 2008-04-17
    historical
25. 2008-03-08
    listed $62,000
26. 2007-10-25
    historical
27. 2007-04-26
    listed $67,000
28. 2006-09-11
    historical
29. 2006-06-14
    listed $71,900
30. 2003-01-31
    soldstatus $62,000
31. 2002-12-09
    listed $65,900

ⓘ 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: $3,366 · $281/mo
• Projected year-2 tax: $3,366 · $281/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% 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: $32,184
• − Mortgage interest: −$8,117
• − Property taxes: −$3,366
• − Insurance: −$1,391
• − Repairs & maintenance: −$2,575
• − Management: −$2,575
• − Depreciation: −$4,215
• Taxable income: $9,946
• Est. tax owed @ 24.0%: −$2,387
• After-tax cash flow: $9,163/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): 14,182
• Household income: $49,312
• Rent vs Own: 51.4% rent · 48.6% own
• Severe rent burden: 943.0

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 0.61)
• Race & ethnicity: White 53% Black 33% Two or more races 11% Hispanic / Latino 6% Asian 1%
• Common ancestry: Slovak 3% Romanian 2% Italian 1%
• Foreign-born: 6% · Canada, Guatemala
• Languages at home: 93% English-only · Spanish 4% German/W. Germanic 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: ▼ -171.27%
• Current HPI: 239.5488
• Rent YoY: ▲ 16.66%
• 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

+135.1% since first listed

18 events — show timeline

• 2026-05-22 Price Changed $154,900 Cincy MLS
• 2026-05-09 Price Changed $164,900 Cincy MLS
• 2026-03-20 Listed $169,900 Cincy MLS
• 2018-07-25 Sold (Public Records) $357,900 Public Records
• 2012-01-20 Listing Removed — Cincy MLS
• 2011-07-20 Listed $49,900 Cincy MLS
• 2011-01-19 Listing Removed — Cincy MLS
• 2010-07-19 Listed $49,000 Cincy MLS
• 2009-05-01 Sold (MLS) $10,000 Cincy MLS
• 2009-01-05 Listed $15,300 Cincy MLS
• 2008-04-17 Listing Removed — Cincy MLS
• 2008-03-08 Listed $62,000 Cincy MLS
• 2007-10-25 Listing Removed — Cincy MLS
• 2007-04-26 Listed $67,000 Cincy MLS
• 2006-09-11 Listing Removed — Cincy MLS
• 2006-06-14 Listed $71,900 Cincy MLS
• 2003-01-31 Sold (MLS) $62,000 Cincy MLS
• 2002-12-09 Listed $65,900 Cincy MLS

Property tax history

+27.8%/yr

Latest (2025): $3,366 · +0.1% YoY. Source: county tax records.