3424 Kensington Pl · Cincinnati, OH 45205

$359,000

6 bd · 3.0 ba · 3,564 sqft · MultiFamily public records · 74 Days on market

Built 1880 4,966 sqft lot Est $292k · 23% over

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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 +26.1/30.0
• DSCR +8.8/10.0
• 1% rule +6.3/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Great investment opportunity in the heart of Cincinnati! This well-maintained 3-unit multifamily property features two spacious 2-bedroom units and one 3-bedroom unit. The two 2-bedroom units are currently vacant and ready to show, offering immediate rental potential or the perfect opportunity for an owner-occupant. Each unit has separate utilities, making management simple and efficient. Conveniently located near downtown, major highways, shopping, and dining. Whether you're looking to expand your portfolio or start investing in multifamily real estate, this property offers excellent potential.

Key facts

• Separate utilities
• Multifamily property
• Near downtown

Tags

• INVESTMENT OPPORTUNITY
• MULTIFAMILY PROPERTY
• SEPARATE UTILITIES
• NEAR DOWNTOWN
• MAJOR HIGHWAYS
• SHOPPING

Property features AI

Finance

• Other: Parcel number 175-0018-0175-00; Semi-annual taxes noted (amount withheld from final output per instructions)
• Financial info: One 3-bedroom unit currently listed with rent of $1,350; Tenant-pay utilities: heat and water

Exterior

• Parking: Detached garage space for 1 vehicle; One open parking space; Off-street parking, on-street parking, and driveway available
• Utilities: Public water; Public sewer; Natural gas
• Home design: Triplex; Two-story (second floor area listed separately)
• Construction: Shingle roof; Stone foundation; Brick construction; Built with vinyl windows
• Exterior features: Vinyl windows; Brick exterior

Interior

• Bedrooms: Triplex with three units: two 2-bedroom units and one 3-bedroom unit (3rd unit rents for $1,350)
• Heating & cooling: Radiant heat (gas); Separate furnaces for units; Separate gas and electric metering; tenants pay heat and water
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $359k.

Deal economics

• At list price, monthly cash flow is $909 ($11k/yr) — positive. Per door: $303/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $359k).
• Recommended offer: $337k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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 (+3.3%/yr); 69 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 $4,040/mo this rent would consume 111% of the median local household income ($44k/yr) (locally 980% 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 $11k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.3% rent growth), your $101k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($337k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 29y 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 $310k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $337,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 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 1880 — 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: 1.13% ✓
• Cap rate: 9.33%
• Cash-on-cash: 10.86%
• DSCR: 1.48
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $292,248
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1045 Parkson Pl	0.40mi	6/—	3,063 (-14%)	6mo	$310,000	$101	53
522 Elberon Ave	0.57mi	6/3.0	3,522 (-1%)	23mo	$189,000	$54	52
1110 Beech Ave	0.59mi	6/3.0	3,238 (-9%)	11mo	$265,000	$82	49
1253 Quebec Rd	0.62mi	5/2.0 (-1)	3,060 (-14%)	10mo	$164,000	$54	30

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 · 3.3% rent growth · sell at horizon

5-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $915
• Equity at exit: $53,528

10-year hold

• IRR: 10.2%
• Equity multiple: 1.80×
• Total profit: $80,187
• Equity at exit: $31,040

Cash invested: $100,520 (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 45205

• Rents YoY: 3.3%
• Active inventory: 69
• Price-to-rent: 23.2×

Monthly cashflow live

• Estimated rent: $4,040 high
• Mortgage (P&I): −$1,883
• Tax from tax record: −$250 /mo · $2,999/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$848
• Net cashflow: $909

Break-even live

Break-even rent $2,889

Max offer price $359,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,580
1× unit	3	1	$1,461
Total (3 units)			$4,040

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-03-16
   listed $359,000 Active
2. 2023-10-06
   soldstatus $310,000
3. 2022-10-28
   historical
4. 2022-09-16
   listed $299,999 Active
5. 2022-08-31
   price $295,900
6. 2022-08-31
   historical
7. 2022-07-11
   status Active
8. 2022-06-21
   historical Contingency Pending
9. 2022-06-05
   price $289,900
10. 2022-05-11
    listed $295,900 Active
11. 2021-10-04
    soldstatus $134,900 Sold
12. 2021-08-06
    historical Contingency Pending
13. 2021-08-03
    historical
14. 2021-08-03
    listed $134,900 Active
15. 2021-06-02
    historical Contingency Pending
16. 2021-05-26
    listed $139,900 Active
17. 2018-03-12
    soldstatus $85,000 Sold
18. 2018-03-12
    soldstatus $85,000
19. 2018-01-24
    historical Accept Backup Offers
20. 2017-08-31
    listed $89,900 Active
21. 2008-01-10
    soldstatus $79,900
22. 2007-12-28
    soldstatus $79,900
23. 2007-06-27
    listed $79,900
24. 2007-06-25
    historical
25. 2006-10-15
    listed $89,900
26. 2006-08-10
    historical
27. 2006-03-09
    listed $122,000
28. 2006-02-06
    soldstatus $74,000
29. 2005-11-23
    listed $74,500
30. 1997-04-08
    soldstatus $61,000
31. 1997-04-03
    soldstatus $61,000
32. 1997-01-13
    listed $63,750
33. 1990-10-02
    soldstatus $54,500
34. 1981-12-01
    soldstatus $34,000

ⓘ 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: $2,999 · $250/mo
• Projected year-2 tax: $4,300 · $358/mo
• Expected delta: +$1,301/yr (+$108/mo · 43.4%)

ⓘ 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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,480
• − Mortgage interest: −$20,110
• − Property taxes: −$2,999
• − Insurance: −$1,795
• − Repairs & maintenance: −$3,878
• − Management: −$3,878
• − Depreciation: −$10,444
• Taxable income: $5,376
• Est. tax owed @ 24.0%: −$1,290
• After-tax cash flow: $9,624/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): 18,651
• Household income: $43,682
• Rent vs Own: 63.1% rent · 36.9% own
• Severe rent burden: 980.0

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 0.69)
• Race & ethnicity: Black 43% White 32% Hispanic / Latino 16% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 1% Slovak 1% Serbian 1%
• Foreign-born: 9% · Canada, India, China
• Languages at home: 84% English-only · Spanish 10% Other Asian/Pacific 2% 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: ▼ -138.67%
• Current HPI: 163.3375
• Rent YoY: ▲ 3.30%
• 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

+955.9% since first listed

34 events — show timeline

• 2026-03-16 Listed $359,000 Cincy MLS
• 2023-10-06 Sold (Public Records) $310,000 Public Records
• 2022-10-28 Listing Removed — Cincy MLS
• 2022-09-16 Listed $299,999 Cincy MLS
• 2022-08-31 Listing Removed — Cincy MLS
• 2022-08-31 Price Changed $295,900 Cincy MLS
• 2022-07-11 Relisted — Cincy MLS
• 2022-06-21 Contingent — Cincy MLS
• 2022-06-05 Price Changed $289,900 Cincy MLS
• 2022-05-11 Listed $295,900 Cincy MLS
• 2021-10-04 Sold (MLS) $134,900 Cincy MLS
• 2021-08-06 Contingent — Cincy MLS
• 2021-08-03 Listed $134,900 Cincy MLS
• 2021-08-03 Listing Removed — Cincy MLS
• 2021-06-02 Contingent — Cincy MLS
• 2021-05-26 Listed $139,900 Cincy MLS
• 2018-03-12 Sold (Public Records) $85,000 Public Records
• 2018-03-12 Sold (MLS) $85,000 Cincy MLS
• 2018-01-24 Contingent — Cincy MLS
• 2017-08-31 Listed $89,900 Cincy MLS
• 2008-01-10 Sold (Public Records) $79,900 Public Records
• 2007-12-28 Sold (MLS) $79,900 Cincy MLS
• 2007-06-27 Listed $79,900 Cincy MLS
• 2007-06-25 Listing Removed — Cincy MLS
• 2006-10-15 Listed $89,900 Cincy MLS
• 2006-08-10 Listing Removed — Cincy MLS
• 2006-03-09 Listed $122,000 Cincy MLS
• 2006-02-06 Sold (MLS) $74,000 Cincy MLS
• 2005-11-23 Listed $74,500 Cincy MLS
• 1997-04-08 Sold (Public Records) $61,000 Public Records
• 1997-04-03 Sold (MLS) $61,000 Cincy MLS
• 1997-01-13 Listed $63,750 Cincy MLS
• 1990-10-02 Sold (Public Records) $54,500 Public Records
• 1981-12-01 Sold (Public Records) $34,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $2,999 · +0.1% YoY. Source: county tax records.