2435 Montana Ave #11 · Cincinnati, OH 45211

$95,900

2 bd · 1.5 ba · 946 sqft · Condo public records · 58 Days on market

Built 1983 $250/mo HOA · 23% of rent

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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 +12.0/30.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Livability +4.0/5.0
• DSCR +3.5/10.0
• Rent growth +3.4/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Completely Redone. New Carpet, Every Room Freshly Painted. This Unit Faces Rear W/ A Private Walkout Patio From Sliding Glass Door Off Living Room. The Bath Off Master Suite Redone. A Must See, This Is Beautiful!

Key facts

• $250 HOA
• Garage
• Listed 58 days

Tags

• PRIVATE WALKOUT PATIO
• BATHROOM OFF MASTER SUITE

Property features AI

Finance

• Other: Lease not considered
• HOA & community: HOA present; owner pays a $250 monthly association fee

Exterior

• Parking: One assigned garage space plus on-street parking
• Utilities: Public water; Public sewer; Natural gas service
• Home design: One-story property with entry at level 1; Other architectural style
• Construction: Brick construction; Shingle roof; Slab foundation; Built on one level
• Exterior features: Aluminum, storm, and insulated windows; Residential zoning; Busline nearby; 220 volt electrical

Interior

• Kitchen: Wood cabinets
• Bedrooms: Two bedrooms on main level — Primary bedroom about 14 x 12; second bedroom about 13 x 11
• Bathrooms: One full bathroom on main level; One half (partial) bathroom on main level
• Heating & cooling: Forced air heating (gas); Central air conditioning; Gas water heating
• Interior features: Five total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $96k.

Deal economics

• At list price, monthly cash flow is $-23 ($-275/yr) — negative.
• To cash-flow at today's rent, offer at most $92k (4.2% below list).
• Meets the 1% rule at list price ($1k rent vs $96k).
• Recommended offer: $92k (4.2% below list) — sets the bar for cash-flow.
• Cap rate 6.0% 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.
• 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $663 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 28y 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 $30k; list at $96k implies a 220% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.

Recommended offer $91,849 (4.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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: 1.16% ✓
• Cap rate: 6.01%
• Cash-on-cash: -1.02%
• DSCR: 0.95
• GRM: 7.2

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: -16.8%
• Equity multiple: 0.40×
• Total profit: $-16,121
• Equity at exit: $14,299

10-year hold

• IRR: -6.9%
• Equity multiple: 0.54×
• Total profit: $-12,279
• Equity at exit: $8,292

Cash invested: $26,852 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,108 high
• Mortgage (P&I): −$503
• Tax from tax record: −$105 /mo · $1,262/yr
• Insurance: −$40
• HOA: −$250
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $-23

Break-even live

Break-even rent $1,137

Max offer price $91,849

Occupancy floor 97%

Sensitivity live

Price	-10% $31	-5% $4	+0% $-23	+5% $-50	+10% $-77
Rent	-10% $-110	-5% $-67	+0% $-23	+5% $21	+10% $65
Rate	-1.0pp $25	-0.5pp $1	base $-23	+0.5pp $-48	+1.0pp $-73

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: $23,975
• Closing costs: $2,877
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2431 Mustang Dr Cincinnati, OH	2.0	1.0	800	$1,200	$1.50	12d	1	0.10mi
3401 McHenry Ave Unit 43 Cincinnati, OH	2.0	1.0	1000	$1,250	$1.25	25d	1	0.53mi
2660 Montana Ave Cincinnati, OH	2.0	1.0	750	$1,125	$1.50	5d	4	0.54mi
2679 Montana Ave Apt 11 Cincinnati, OH	2.0	1.0	1000	$1,150	$1.15	5d	1	0.59mi
3382 McHenry Ave Cincinnati, OH	2.0	1.0	850	$895	$1.05	25d	1	0.59mi
3382 McHenry Ave Cincinnati, OH	2.0	1.0	850	$895	$1.05	23d	1	0.59mi
2320 Westwood Northern Blvd Cincinnati, OH	1.0	1.0	800	$825	$1.03	4d	1	0.67mi
3272 Gobel Ave Unit 2465-2 Cincinnati, OH	2.0	1.0	900	$900	$1.00	25d	1	0.68mi
3570 McHenry Ave Unit 3574-3 Cincinnati, OH	2.0	1.0	900	$1,000	$1.11	25d	1	0.69mi
3272 Gobel Ave Cincinnati, OH	2.0	1.0	900	$1,100	$1.22	25d	1	0.69mi
2678 Montana Ave Cincinnati, OH	1.0–3.0	1.0–2.0	935	$1,252	$1.34	3d	10	0.72mi
2230 Westwood Northern Blvd Cincinnati, OH	1.0–2.0	1.0–2.0	792	$940	$1.19	25d	3	0.82mi
3348 Ninann Ct Apt 4 Cincinnati, OH	2.0	2.0	800	$799	$1.00	3d	1	0.88mi
3077 Worthington Ave Cincinnati, OH	2.0	1.0	900	$1,500	$1.67	25d	1	0.90mi
3064 Aquadale Ln Cincinnati, OH	3.0	3.0	1102	$1,850	$1.68	25d	1	0.91mi
3052 Worthington Ave Cincinnati, OH	3.0	1.0	1105	$1,195	$1.08	6d	1	0.94mi
3042 Bracken Woods Ln Unit 3042 03 Cincinnati, OH	1.0	1.0	850	$850	$1.00	25d	1	0.98mi
2837 Montana Ave Unit 2 Cincinnati, OH	2.0	1.5	1000	$1,300	$1.30	16d	1	1.01mi
3065 Bracken Woods Ln #2 Cincinnati, OH	1.0	1.0	709	$825	$1.16	25d	1	1.01mi
2872 Montana Ave Cincinnati, OH	2.0	1.0	805	$1,075	$1.34	25d	1	1.04mi
2532 Harrison Ave Unit 2217 02 Cincinnati, OH	2.0	1.0	1000	$1,250	$1.25	25d	1	1.08mi
3512 Hazelwood Ave Unit 2 Cincinnati, OH	2.0	1.0	906	$1,750	$1.93	25d	1	1.17mi
3001 Westwood Northern Blvd Unit 3009-10 Cincinnati, OH	2.0	1.0	1000	$1,050	$1.05	25d	1	1.17mi
3001 Westwood Northern Blvd Unit 3009-1 Cincinnati, OH	1.0	1.0	750	$900	$1.20	18d	1	1.17mi
2751 Faber Ave Apt 3 Cincinnati, OH	1.0	1.0	544	$710	$1.31	25d	1	1.18mi
2854 Shaffer Ave Unit 1 Cincinnati, OH	2.0	1.0	1100	$1,125	$1.02	15d	1	1.18mi
2747 McKinley Ave Fl 1 Cincinnati, OH	1.0	1.0	900	$895	$0.99	23d	1	1.24mi
2356 Harrison Ave Cincinnati, OH	2.0	1.0	900	$1,000	$1.11	25d	1	1.24mi
2860 Harrison Ave Cincinnati, OH	1.0	1.0	750	$850	$1.13	25d	1	1.28mi
2332 Harrison Ave Cincinnati, OH	1.0	1.0	600	$750	$1.25	18d	1	1.28mi
2332 Harrison Ave Cincinnati, OH	1.0	1.0	600	$750	$1.25	25d	1	1.28mi
2996 Wardall Ave Unit 2 Cincinnati, OH	2.0	1.0	800	$1,025	$1.28	6d	1	1.29mi
2860 Harrison Ave Unit 20 Cincinnati, OH	1.0	1.0	700	$875	$1.25	18d	1	1.29mi
2860 Harrison Ave Apt 21 Cincinnati, OH	2.0	1.5	950	$1,000	$1.05	22d	1	1.29mi
1905 Elmore St Cincinnati, OH	3.0	1.0	925	$1,320	$1.43	15d	3	1.31mi
4479 Colerain Ave Cincinnati, OH	1.0–2.0	1.0	762	$1,075	$1.41	25d	1	1.33mi
2897 Harrison Ave Unit 12 Cincinnati, OH	1.0	1.0	650	$800	$1.23	25d	1	1.33mi
3006 Montana Ave Unit 08 Cincinnati, OH	1.0	1.0	800	$875	$1.09	25d	1	1.45mi
2117 Saint Leo Pl Cincinnati, OH	2.0	1.0	1050	$1,150	$1.10	25d	1	1.48mi
2721 Baker Ave Unit 23-35 Cincinnati, OH	2.0	1.0	785	$1,095	$1.39	25d	1	1.49mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $95,900 Active 58 DOM
2. 2026-06-18
   days on market $95,900 Active 55 DOM
3. 2026-06-17
   days on market $95,900 Active 54 DOM
4. 2026-06-16
   days on market $95,900 Active 53 DOM
5. 2026-06-15
   days on market $95,900 Active 52 DOM
6. 2026-06-13
   days on market $95,900 Active 50 DOM
7. 2026-06-13
   days on market $95,900 Active 49 DOM
8. 2026-06-09
   days on market $95,900 Active 46 DOM
9. 2026-06-08
   days on market $95,900 Active 45 DOM
10. 2026-06-07
    days on market $95,900 Active 44 DOM
11. 2026-06-03
    days on market $95,900 Active 40 DOM
12. 2026-06-02
    days on market $95,900 Active 39 DOM
13. 2026-06-01
    days on market $95,900 Active 38 DOM
14. 2026-05-31
    days on market $95,900 Active 37 DOM
15. 2026-04-24
    listed $95,900 Active
16. 1999-05-13
    soldstatus $30,000
17. 1999-04-13
    soldstatus $30,000 212-char remark

    Show marketing remark (212 chars)

    Completely Redone. New Carpet, Every Room Freshly Painted. This Unit Faces Rear W/ A Private Walkout Patio From Sliding Glass Door Off Living Room. The Bath Off Master Suite Redone. A Must See, This Is Beautiful!

18. 1998-09-28
    listed $39,900 212-char remark

    Show marketing remark (212 chars)

    Completely Redone. New Carpet, Every Room Freshly Painted. This Unit Faces Rear W/ A Private Walkout Patio From Sliding Glass Door Off Living Room. The Bath Off Master Suite Redone. A Must See, This Is Beautiful!

ⓘ 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: $1,262 · $105/mo
• Projected year-2 tax: $1,379 · $115/mo
• Expected delta: +$117/yr (+$10/mo · 9.3%)

ⓘ 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 ≥104°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: $13,293
• − Mortgage interest: −$5,372
• − Property taxes: −$1,262
• − Insurance: −$480
• − Repairs & maintenance: −$1,063
• − Management: −$1,063
• − HOA: −$3,000
• − Depreciation: −$2,790
• Taxable loss: −$1,737
• Est. tax savings @ 24.0%: +$417
• After-tax cash flow: $142/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): 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

+140.4% since first listed

4 events — show timeline

• 2026-04-24 Listed $95,900 Cincy MLS
• 1999-05-13 Sold (Public Records) $30,000 Public Records
• 1999-04-13 Sold (MLS) $30,000 Cincy MLS
• 1998-09-28 Listed $39,900 Cincy MLS

Property tax history

+13.6%/yr

Latest (2025): $1,262 · +3.1% YoY. Source: county tax records.