1831 W North Bend Rd · Cincinnati, OH 45224

$299,900

2 bd · 2.0 ba · 2,274 sqft · MultiFamily public records · 26 Days on market

Built 1919

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Why this score? — see what drove the D 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 +14.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Livability +4.0/5.0
• 1% rule +3.7/10.0
• 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

Stunning Spacious and Remodeled Duplex in Revitalized College Hill Neighborhood 9 foot high ceilings. Completely Remodeled. New Roof. New Box Gutters. New Windows. Two New Furnaces. Two new Central Air Conditioners. Two New Water Heaters. New Driveway. New Walkway. New Partial electrical. Separate Electrical Units. Separate Gas Meters. Separate Washer and Dryer units. Apple Tree, Mulberry Tree, Native Paw Paw Tree. Garage Metal Shed.

Key facts

• Modern updates
• New box gutters
• Updated windows

Tags

• HISTORIC CHARACTER
• MODERN UPDATES
• NEW ROOF
• NEW DRIVEWAY
• UPDATED WINDOWS
• NEW BOX GUTTERS

Property features AI

Finance

• Financial info: Two total units: 1 one-bedroom (rent $1,050), 1 three-plus-bedroom (rent $1,800); Tenant pays heat; owner pays water; Lease status: Tenant right

Exterior

• Parking: Detached rear garage; Approximately 5 open parking spaces; Assigned parking, off-street and on-street parking available
• Utilities: Public water; Public sewer; Natural gas
• Home design: Duplex; Three-plus levels; Stone foundation
• Construction: Brick construction; Shingle roof
• Exterior features: Porch; Busline nearby

Interior

• Bedrooms: One 1-bedroom unit; One 3-bedroom unit
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Central air; Forced air heating (gas); Separate furnaces and separate A/C for units; Separate gas and electric meters
• Interior features: Full basement; Inoperable fireplaces (2); Individual laundry; Smoke alarm
• Laundry & utility: Individual laundry for units

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $70 ($835/yr) — positive. Per door: $35/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $260k (13.1% below list).
• Recommended offer: $260k (13.1% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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 (+1.8%/yr); 52 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $2,605/mo this rent would consume 55% of the median local household income ($56k/yr) (locally 1382% 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 $9k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 23y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $125k; list at $300k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $260,500 (13.1% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.87% ✗
• Cap rate: 6.57%
• Cash-on-cash: 0.99%
• DSCR: 1.04
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $93,234
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5670 Hamilton Ave	0.75mi	2/2.0	2,440 (+7%)	21mo	$100,000	$41	36

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 · 1.82% rent growth · sell at horizon

5-year hold

• IRR: -16.0%
• Equity multiple: 0.44×
• Total profit: $-47,234
• Equity at exit: $44,716

10-year hold

• IRR: -9.8%
• Equity multiple: 0.43×
• Total profit: $-47,724
• Equity at exit: $25,930

Cash invested: $83,972 (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 45224

• Rents YoY: 1.8%
• Active inventory: 52
• Price-to-rent: 19.2×

Monthly cashflow live

• Estimated rent: $2,605 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$291 /mo · $3,488/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$547
• Net cashflow: $70

Break-even live

Break-even rent $2,517

Max offer price $299,900

Occupancy floor 92%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,606
Total (2 units)			$2,605

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1805 Emerson Ave Cincinnati, OH	3.0	1.0	1912	$1,550	$0.81	23d	1	0.58mi
5843 Monfort Hills Ave Cincinnati, OH	2.0	1.0	1820	$1,200	$0.66	23d	1	1.21mi
5759 Colerain Ave Cincinnati, OH	2.0	1.0	2752	$1,400	$0.51	23d	1	1.37mi

Listing history 36 events

1. 2026-06-18
   days on market $299,900 Active 26 DOM
2. 2026-06-17
   days on market $299,900 Active 25 DOM
3. 2026-06-16
   days on market $299,900 Active 24 DOM
4. 2026-06-15
   days on market $299,900 Active 23 DOM
5. 2026-06-13
   days on market $299,900 Active 21 DOM
6. 2026-06-13
   pricedays on market $299,900 Active 20 DOM
7. 2026-06-09
   days on market $319,900 Active 17 DOM
8. 2026-06-08
   days on market $319,900 Active 16 DOM
9. 2026-06-07
   days on market $319,900 Active 15 DOM
10. 2026-06-03
    days on market $319,900 Active 11 DOM
11. 2026-06-02
    days on market $319,900 Active 10 DOM
12. 2026-06-01
    days on market $319,900 Active 9 DOM
13. 2026-05-31
    days on market $319,900 Active 8 DOM
14. 2026-05-23
    listed $319,900 Active
15. 2026-02-28
    historical 437-char remark

    Show marketing remark (437 chars)

    Stunning Spacious and Remodeled Duplex in Revitalized College Hill Neighborhood 9 foot high ceilings. Completely Remodeled. New Roof. New Box Gutters. New Windows. Two New Furnaces. Two new Central Air Conditioners. Two New Water Heaters. New Driveway. New Walkway. New Partial electrical. Separate Electrical Units. Separate Gas Meters. Separate Washer and Dryer units. Apple Tree, Mulberry Tree, Native Paw Paw Tree. Garage Metal Shed.

16. 2026-01-13
    price $329,000 437-char remark

    Show marketing remark (437 chars)

    Stunning Spacious and Remodeled Duplex in Revitalized College Hill Neighborhood 9 foot high ceilings. Completely Remodeled. New Roof. New Box Gutters. New Windows. Two New Furnaces. Two new Central Air Conditioners. Two New Water Heaters. New Driveway. New Walkway. New Partial electrical. Separate Electrical Units. Separate Gas Meters. Separate Washer and Dryer units. Apple Tree, Mulberry Tree, Native Paw Paw Tree. Garage Metal Shed.

17. 2025-10-01
    price $369,999 437-char remark

    Show marketing remark (437 chars)

    Stunning Spacious and Remodeled Duplex in Revitalized College Hill Neighborhood 9 foot high ceilings. Completely Remodeled. New Roof. New Box Gutters. New Windows. Two New Furnaces. Two new Central Air Conditioners. Two New Water Heaters. New Driveway. New Walkway. New Partial electrical. Separate Electrical Units. Separate Gas Meters. Separate Washer and Dryer units. Apple Tree, Mulberry Tree, Native Paw Paw Tree. Garage Metal Shed.

18. 2025-09-30
    status Active 437-char remark

    Show marketing remark (437 chars)

    Stunning Spacious and Remodeled Duplex in Revitalized College Hill Neighborhood 9 foot high ceilings. Completely Remodeled. New Roof. New Box Gutters. New Windows. Two New Furnaces. Two new Central Air Conditioners. Two New Water Heaters. New Driveway. New Walkway. New Partial electrical. Separate Electrical Units. Separate Gas Meters. Separate Washer and Dryer units. Apple Tree, Mulberry Tree, Native Paw Paw Tree. Garage Metal Shed.

19. 2025-05-30
    historical 437-char remark

    Show marketing remark (437 chars)

    Stunning Spacious and Remodeled Duplex in Revitalized College Hill Neighborhood 9 foot high ceilings. Completely Remodeled. New Roof. New Box Gutters. New Windows. Two New Furnaces. Two new Central Air Conditioners. Two New Water Heaters. New Driveway. New Walkway. New Partial electrical. Separate Electrical Units. Separate Gas Meters. Separate Washer and Dryer units. Apple Tree, Mulberry Tree, Native Paw Paw Tree. Garage Metal Shed.

20. 2025-03-11
    listed $350,000 Active 437-char remark

    Show marketing remark (437 chars)

    Stunning Spacious and Remodeled Duplex in Revitalized College Hill Neighborhood 9 foot high ceilings. Completely Remodeled. New Roof. New Box Gutters. New Windows. Two New Furnaces. Two new Central Air Conditioners. Two New Water Heaters. New Driveway. New Walkway. New Partial electrical. Separate Electrical Units. Separate Gas Meters. Separate Washer and Dryer units. Apple Tree, Mulberry Tree, Native Paw Paw Tree. Garage Metal Shed.

21. 2020-03-24
    soldstatus $125,000
22. 2020-03-19
    soldstatus $125,000 Sold 222-char remark

    Show marketing remark (222 chars)

    Great brick (top/bottom) duplex! Perfect for owner-occupant or investor, with one 3 bedroom unit and one 1 bedroom unit. Separate gas/electric meters, 2 car detached garage, full unfinished basement. Agent is owner/seller.

23. 2020-01-29
    historical Contingency Pending 222-char remark

    Show marketing remark (222 chars)

    Great brick (top/bottom) duplex! Perfect for owner-occupant or investor, with one 3 bedroom unit and one 1 bedroom unit. Separate gas/electric meters, 2 car detached garage, full unfinished basement. Agent is owner/seller.

24. 2019-12-11
    price $130,000 222-char remark

    Show marketing remark (222 chars)

    Great brick (top/bottom) duplex! Perfect for owner-occupant or investor, with one 3 bedroom unit and one 1 bedroom unit. Separate gas/electric meters, 2 car detached garage, full unfinished basement. Agent is owner/seller.

25. 2019-12-04
    listed $140,000 Active 222-char remark

    Show marketing remark (222 chars)

    Great brick (top/bottom) duplex! Perfect for owner-occupant or investor, with one 3 bedroom unit and one 1 bedroom unit. Separate gas/electric meters, 2 car detached garage, full unfinished basement. Agent is owner/seller.

26. 2017-06-01
    soldstatus $100,000
27. 2004-04-22
    soldstatus $84,900
28. 2004-04-08
    soldstatus $84,900
29. 2003-11-06
    listed $84,900
30. 2003-10-31
    historical
31. 2003-08-22
    listed $94,900
32. 2003-07-17
    historical
33. 2003-03-26
    listed $109,900
34. 2003-03-26
    historical
35. 2003-02-27
    listed $92,900
36. 1996-01-05
    soldstatus $82,500

ⓘ 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: $3,488 · $291/mo
• Projected year-2 tax: $4,083 · $340/mo
• Expected delta: +$595/yr (+$50/mo · 17.1%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,260
• − Mortgage interest: −$16,799
• − Property taxes: −$3,488
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,501
• − Management: −$2,501
• − Depreciation: −$8,724
• Taxable loss: −$4,253
• Est. tax savings @ 24.0%: +$1,021
• After-tax cash flow: $1,856/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): 21,900
• Household income: $56,471
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 1382.0

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: Black 51% White 37% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Lithuanian 2% Italian 2% Slovak 1%
• Foreign-born: 5% · Canada
• Languages at home: 95% 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: ▼ -148.06%
• Current HPI: 224.1379
• Rent YoY: ▲ 1.82%
• 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

+287.8% since first listed

23 events — show timeline

• 2026-05-23 Listed $319,900 Cincy MLS
• 2026-02-28 Listing Removed — Cincy MLS
• 2026-01-13 Price Changed $329,000 Cincy MLS
• 2025-10-01 Price Changed $369,999 Cincy MLS
• 2025-09-30 Relisted — Cincy MLS
• 2025-05-30 Listing Removed — Cincy MLS
• 2025-03-11 Listed $350,000 Cincy MLS
• 2020-03-24 Sold (Public Records) $125,000 Public Records
• 2020-03-19 Sold (MLS) $125,000 Cincy MLS
• 2020-01-29 Contingent — Cincy MLS
• 2019-12-11 Price Changed $130,000 Cincy MLS
• 2019-12-04 Listed $140,000 Cincy MLS
• 2017-06-01 Sold (Public Records) $100,000 Public Records
• 2004-04-22 Sold (Public Records) $84,900 Public Records
• 2004-04-08 Sold (MLS) $84,900 Cincy MLS
• 2003-11-06 Listed $84,900 Cincy MLS
• 2003-10-31 Listing Removed — Cincy MLS
• 2003-08-22 Listed $94,900 Cincy MLS
• 2003-07-17 Listing Removed — Cincy MLS
• 2003-03-26 Listing Removed — Cincy MLS
• 2003-03-26 Listed $109,900 Cincy MLS
• 2003-02-27 Listed $92,900 Cincy MLS
• 1996-01-05 Sold (Public Records) $82,500 Public Records

Property tax history

+6.9%/yr

Latest (2025): $3,488 · +1.8% YoY. Source: county tax records.