4210 Lowry Ave · Norwood, OH 45212

$340,000

16 bd · 16.0 ba · — sqft · MultiFamily · 108 Days on market

Built 1900 6,055 sqft lot Est $346k · at est.

---

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 +8.3/15.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Rent growth +2.6/5.0
• 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: 4 units. 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

Completely remodeled 4-family investment opportunity! Each unit has been thoughtfully updated and features stainless steel appliances, dedicated in-unit electric heat control, spacious pantries, LVP flooring, new carpet, and modern ceiling fans. Tenants enjoy backyard access, adding to overall livability and appeal. Currently 75% leased, this property offers immediate income with room to increase cash flow ideal for buy-and-hold investors or an owner-occupant looking to offset their mortgage. Additional highlights include rear space with room for parking a valuable bonus for tenants and future rental potential. Turnkey, income-producing, and updated throughout this is a smart addition to any portfolio.

Key facts

• Modern ceiling fans
• New carpet
• Spacious pantries

Tags

• STAINLESS STEEL APPLIANCES
• IN-UNIT ELECTRIC HEAT CONTROL
• SPACIOUS PANTRIES
• LVP FLOORING
• NEW CARPET
• MODERN CEILING FANS

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.0-bath units multifamily listed at $340k.

Deal economics

• At list price, monthly cash flow is $4k ($44k/yr) — positive. Per door: $927/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $340k).
• Recommended offer: $309k (9.0% below list) — sets the bar for market timing.
• Cap rate 19.4% vs local median 4.7% in Norwood — 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 79/100 on livability (#154 in OH, #2,322 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime C-, employment C-, amenities D+.
• Norwood City (suburban): math 35% / reading 53% proficiency, ranked #513 of 656 in OH (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 56 active listings in the ZIP; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $7,598/mo this rent would consume 126% of the median local household income ($72k/yr) (locally 1192% 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 $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.2% rent growth), your $95k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($309k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 26y ago; this cycle's ask has dropped $30k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $270k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $309,400 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% 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 1900 — 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. 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: 2.23% ✓
• Cap rate: 19.37%
• Cash-on-cash: 46.72%
• DSCR: 3.08
• GRM: 3.7

CMA / ARV

• ARV (median comp): $346,439
• List price: $340,000
• Delta: -1.86%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.21% rent growth · sell at horizon

5-year hold

• IRR: 40.9%
• Equity multiple: 2.68×
• Total profit: $160,300
• Equity at exit: $50,695

10-year hold

• IRR: 45.8%
• Equity multiple: 4.82×
• Total profit: $363,362
• Equity at exit: $29,397

Cash invested: $95,200 (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 45212

• Rents YoY: 0.2%
• Active inventory: 56
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $7,598 high
• Mortgage (P&I): −$1,783
• Tax from tax record: −$371 /mo · $4,456/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,596
• Net cashflow: $3,706

Break-even live

Break-even rent $2,906

Max offer price $340,000

Occupancy floor 46%

Sensitivity live

Price	-10% $3,899	-5% $3,803	+0% $3,706	+5% $3,610	+10% $3,514
Rent	-10% $3,106	-5% $3,406	+0% $3,706	+5% $4,007	+10% $4,307
Rate	-1.0pp $3,878	-0.5pp $3,793	base $3,706	+0.5pp $3,618	+1.0pp $3,529

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$7,596
Total (4 units)			$7,598

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-18
   days on market $340,000 Active 108 DOM
2. 2026-06-17
   days on market $340,000 Active 107 DOM
3. 2026-06-16
   days on market $340,000 Active 106 DOM
4. 2026-06-15
   days on market $340,000 Active 105 DOM
5. 2026-06-13
   days on market $340,000 Active 103 DOM
6. 2026-06-09
   days on market $340,000 Active 99 DOM
7. 2026-06-08
   days on market $340,000 Active 98 DOM
8. 2026-06-07
   days on market $340,000 Active 97 DOM
9. 2026-06-03
   days on market $340,000 Active 93 DOM
10. 2026-06-02
    days on market $340,000 Active 92 DOM
11. 2026-06-01
    days on market $340,000 Active 91 DOM
12. 2026-05-31
    days on market $340,000 Active 90 DOM
13. 2026-04-11
    price $355,000 723-char remark

    Show marketing remark (723 chars)

    Completely remodeled 4-family investment opportunity! Each unit has been thoughtfully updated and features stainless steel appliances, dedicated in-unit electric heat control, spacious pantries, LVP flooring, new carpet, and modern ceiling fans. Tenants enjoy backyard access, adding to overall livability and appeal. Currently 75% leased, this property offers immediate income with room to increase cash flow ideal for buy-and-hold investors or an owner-occupant looking to offset their mortgage. Additional highlights include rear space with room for parking a valuable bonus for tenants and future rental potential. Turnkey, income-producing, and updated throughout this is a smart addition to any portfolio.

14. 2026-03-03
    listed $370,000 Active 723-char remark

    Show marketing remark (723 chars)

    Completely remodeled 4-family investment opportunity! Each unit has been thoughtfully updated and features stainless steel appliances, dedicated in-unit electric heat control, spacious pantries, LVP flooring, new carpet, and modern ceiling fans. Tenants enjoy backyard access, adding to overall livability and appeal. Currently 75% leased, this property offers immediate income with room to increase cash flow ideal for buy-and-hold investors or an owner-occupant looking to offset their mortgage. Additional highlights include rear space with room for parking a valuable bonus for tenants and future rental potential. Turnkey, income-producing, and updated throughout this is a smart addition to any portfolio.

15. 2025-04-07
    soldstatus $270,000
16. 2025-04-02
    soldstatus $270,000 Sold 349-char remark

    Show marketing remark (349 chars)

    An incredible opportunity for investors in desirable Norwood neighborhood! Fully rented units with month to month leases all long-standing tenants. All unit rents are below current market rate. Fantastic location, quiet street, and plenty of off-street parking. New exterior siding. 24 hour notice required for all showings. Selling as is, where is.

17. 2025-02-27
    historical Contingency Pending 349-char remark

    Show marketing remark (349 chars)

    An incredible opportunity for investors in desirable Norwood neighborhood! Fully rented units with month to month leases all long-standing tenants. All unit rents are below current market rate. Fantastic location, quiet street, and plenty of off-street parking. New exterior siding. 24 hour notice required for all showings. Selling as is, where is.

18. 2025-01-22
    listed $300,000 Active 349-char remark

    Show marketing remark (349 chars)

    An incredible opportunity for investors in desirable Norwood neighborhood! Fully rented units with month to month leases all long-standing tenants. All unit rents are below current market rate. Fantastic location, quiet street, and plenty of off-street parking. New exterior siding. 24 hour notice required for all showings. Selling as is, where is.

19. 2024-12-17
    historical
20. 2024-12-10
    historical Contingency Pending
21. 2024-12-05
    listed $300,000 Active
22. 2007-12-06
    historical
23. 2007-06-14
    listed $147,500
24. 2007-05-29
    historical
25. 2006-02-01
    listed $149,900
26. 2004-03-31
    soldstatus $127,900
27. 2004-03-23
    soldstatus $127,900
28. 2004-01-02
    listed $133,900
29. 2003-10-25
    historical
30. 2003-07-12
    listed $134,500
31. 2000-11-27
    soldstatus $96,000
32. 2000-11-16
    soldstatus $96,000
33. 2000-08-21
    listed $99,900
34. 1996-09-30
    soldstatus $85,000

ⓘ 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: $4,456 · $371/mo
• Projected year-2 tax: $4,880 · $407/mo
• Expected delta: +$424/yr (+$35/mo · 9.5%)

ⓘ 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $91,176
• − Mortgage interest: −$19,045
• − Property taxes: −$4,456
• − Insurance: −$1,700
• − Repairs & maintenance: −$7,294
• − Management: −$7,294
• − Depreciation: −$9,891
• Taxable income: $41,496
• Est. tax owed @ 24.0%: −$9,959
• After-tax cash flow: $34,518/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: Norwood City
• NCES district ID: 3904457
• Math proficiency: 35% ▼ -24.00%
• Reading proficiency: 53% ▼ -11.00%
• Median HH income: $38,750
• Composite: 36.66/100
• National rank: #4614
• State rank: #513 of 656 in OH

Livability — Norwood

• Score: 79/100
• State rank: #154
• US rank: #2322

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norwood, OH
• County: Hamilton County · 701,295 people
• City population: 21,526
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 21,526
• Household income: $72,422
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 1192.0

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 White (73%)
• Race & ethnicity: White 73% Black 15% Hispanic / Latino 8% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 92% English-only · Spanish 6% Arabic 1% Russian/Polish/Slavic 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: ▼ -209.95%
• Current HPI: 295.7088
• Rent YoY: ▲ 0.21%
• 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

+317.6% since first listed

22 events — show timeline

• 2026-04-11 Price Changed $355,000 Cincy MLS
• 2026-03-03 Listed $370,000 Cincy MLS
• 2025-04-07 Sold (Public Records) $270,000 Public Records
• 2025-04-02 Sold (MLS) $270,000 Cincy MLS
• 2025-02-27 Contingent — Cincy MLS
• 2025-01-22 Listed $300,000 Cincy MLS
• 2024-12-17 Listing Removed — Cincy MLS
• 2024-12-10 Contingent — Cincy MLS
• 2024-12-05 Listed $300,000 Cincy MLS
• 2007-12-06 Listing Removed — Cincy MLS
• 2007-06-14 Listed $147,500 Cincy MLS
• 2007-05-29 Listing Removed — Cincy MLS
• 2006-02-01 Listed $149,900 Cincy MLS
• 2004-03-31 Sold (Public Records) $127,900 Public Records
• 2004-03-23 Sold (MLS) $127,900 Cincy MLS
• 2004-01-02 Listed $133,900 Cincy MLS
• 2003-10-25 Listing Removed — Cincy MLS
• 2003-07-12 Listed $134,500 Cincy MLS
• 2000-11-27 Sold (Public Records) $96,000 Public Records
• 2000-11-16 Sold (MLS) $96,000 Cincy MLS
• 2000-08-21 Listed $99,900 Cincy MLS
• 1996-09-30 Sold (Public Records) $85,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $4,456 · +0.3% YoY. Source: county tax records.