2661 Bellevue Ave · Cincinnati, OH 45219

$424,900

4 bd · 2.0 ba · 2,354 sqft · MultiFamily public records · 52 Days on market

Built 1897 6,055 sqft lot

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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 +15.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Currently generating $3,750/month with tenants paying all utilities, this well maintained brick property offers a solid rental history and strong income potential. The layout includes a full bath on the first floor, three bedrooms and another full bath on the second, plus two additional bedrooms on the third for flexible living or rental use. Off street parking and a full unfinished basement provide added function and future potential. Major updates including roof, water heater, furnace, and HVAC have already been handled. Out back, the yard has a surprisingly private, park like feel that stands out for the area. A great option for investors, with flexibility for an owner occupant looking f

Key facts

• 6,055 sq ft lot
• Built 1897
• Listed 52 days

Property features AI

Finance

• Other: Lease not considered
• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Natural gas service
• Home design: Traditional single-family home; Three-plus levels; Second floor area reported
• Construction: Brick construction; Poured foundation; Shingle roof
• Exterior features: Two fireplaces (currently inoperable); Double-hung vinyl windows; Lot approximately 0.139 acres

Interior

• Kitchen: Kitchen approximately 14 x 9
• Bedrooms: Five bedrooms total; Primary bedroom on level 2 (15 x 13); Bedroom 2 on level 2 (14 x 10); Bedroom 3 on level 2 (14 x 10); Bedroom 4 on level 3 (20 x 15); Bedroom 5 on level 3 (15 x 10)
• Bathrooms: Two full bathrooms; One full bathroom on level 1; One full bathroom on level 2; Primary bathroom: Other
• Heating & cooling: Forced air heating (gas); Central air conditioning; Gas water heating
• Interior features: Eight total rooms; Full unfinished basement
• Laundry & utility: Basement utility area (unfinished)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $369k (13.1% below list).
• Recommended offer: $369k (13.1% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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: Sands Montessori School (math 70% / reading 77%, grade A, #311 of 1,584 statewide, top 20%, 683 students, 22% 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 12% FRL vs 70% district-wide (59 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 60% at this address vs 30% district-wide (+30 pts) — the actual schools serving this property are materially stronger than the Cincinnati Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.1%/yr); 70 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $3,694/mo this rent would consume 124% of the median local household income ($36k/yr) (locally 2461% 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 $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($412k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask is 12040% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $44k; list at $425k implies a 866% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $369,352 (13.1% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1897 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 6.78%
• Cash-on-cash: 1.75%
• DSCR: 1.08
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $277,772
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3016 Euclid Ave	0.31mi	4/2.0	2,567 (+9%)	12mo	$418,500	$163	60
311 Hilton Pl	0.20mi	4/3.0	2,681 (+14%)	5mo	$190,000	$71	59
2322 Maplewood Ave	0.47mi	5/3.0 (+1)	2,455 (+4%)	10mo	$290,000	$118	54
260 Earnshaw Ave	0.65mi	5/2.0 (+1)	2,446 (+4%)	14mo	$89,000	$36	47
3243 Vine St	0.67mi	5/3.0 (+1)	2,297 (-2%)	19mo	$310,000	$135	40
2228 Reading Rd	0.60mi	5/3.0 (+1)	2,640 (+12%)	8mo	$274,000	$104	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 · 2.07% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.48×
• Total profit: $-61,296
• Equity at exit: $63,354

10-year hold

• IRR: -7.3%
• Equity multiple: 0.55×
• Total profit: $-53,200
• Equity at exit: $36,738

Cash invested: $118,972 (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 45219

• Home prices YoY: -28.3%
• Rents YoY: 2.1%
• Active inventory: 70
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $3,694 high
• Mortgage (P&I): −$2,228
• Tax from tax record: −$339 /mo · $4,071/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$776
• Net cashflow: $173

Break-even live

Break-even rent $3,474

Max offer price $424,900

Occupancy floor 90%

Sensitivity live

Price	-10% $414	-5% $294	+0% $173	+5% $53	+10% $-67
Rent	-10% $-118	-5% $27	+0% $173	+5% $319	+10% $465
Rate	-1.0pp $387	-0.5pp $281	base $173	+0.5pp $63	+1.0pp $-49

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: $106,225
• Closing costs: $12,747
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2813 Gerard St Unit 1540075P Cincinnati, OH	4.0	3.0	2152	$6,281	$2.92	22d	1	0.05mi
241 E University Ave Cincinnati, OH	5.0	2.0	1836	$4,000	$2.18	25d	1	0.12mi
242 Stetson St Unit NA Cincinnati, OH	3.0	2.5	2300	$3,500	$1.52	23d	1	0.27mi
2800 Jefferson Ave Cincinnati, OH	4.0	2.0	2500	$625	$0.25	21d	1	0.32mi
7 W Hollister St Cincinnati, OH	5.0	2.0	1585	$2,750	$1.74	16d	1	0.54mi
2601 May St Cincinnati, OH	2.0–3.0	2.5–3.5	1737	$3,325	$1.91	3d	12	0.58mi
2517 May St Cincinnati, OH	3.0	3.5	2014	$3,420	$1.70	23d	1	0.58mi
236 Gilman Ave Cincinnati, OH	3.0	2.5	1699	$2,200	$1.29	14d	1	0.63mi
216 Gilman Ave Unit 1363975P Cincinnati, OH	3.0	1.0	1776	$3,474	$1.96	4d	1	0.64mi
2271 Vine St Cincinnati, OH	4.0	2.0	2268	$1,525	$0.67	6d	1	0.77mi
2105 Burnet Ave Unit 1056017P Cincinnati, OH	4.0	2.0	2960	$7,384	$2.49	3d	1	0.81mi
2388 Wheeler St Cincinnati, OH	4.0	2.0	1740	$2,700	$1.55	25d	1	0.85mi
2386 Wheeler St Cincinnati, OH	4.0	1.0	1740	$2,700	$1.55	25d	1	0.85mi
850 Lincoln Ave Unit 2 Cincinnati, OH	3.0	2.5	2465	$2,400	$0.97	25d	1	0.86mi
918 Windsor St Cincinnati, OH	3.0	1.0	2583	$1,675	$0.65	25d	1	0.93mi
923 Rogers Pl Cincinnati, OH	3.0	1.0	2061	$1,600	$0.78	25d	1	0.95mi
2332 Chickasaw St Unit 1 Cincinnati, OH	3.0	1.0	2000	$1,800	$0.90	25d	1	0.97mi
2317 Chickasaw St Cincinnati, OH	5.0	2.0	2826	$2,750	$0.97	16d	1	1.01mi
55 Mulberry St Cincinnati, OH	3.0	3.0	2500	$3,500	$1.40	25d	1	1.06mi
107 E Clifton Ave Unit 1234537P Cincinnati, OH	2.0–3.0	1.0–2.0	2260	$6,619	$2.93	16d	2	1.10mi
3028 Gilbert Ave Cincinnati, OH	5.0	1.5	1936	$1,700	$0.88	22d	1	1.11mi
2331 Park Ave Unit 1 Cincinnati, OH	3.0	2.5	2200	$2,350	$1.07	3d	1	1.11mi
2235 Victor St Cincinnati, OH	4.0	2.0	2043	$2,250	$1.10	25d	1	1.13mi
328 Mulberry St Cincinnati, OH	3.0	3.5	2640	$5,500	$2.08	25d	1	1.13mi
328 Mulberry St Cincinnati, OH	3.0	3.5	2640	$5,500	$2.08	16d	1	1.13mi
2231 Flora St Cincinnati, OH	4.0	2.0	1728	$1,500	$0.87	25d	1	1.19mi
623 Riddle Rd Cincinnati, OH	3.0	2.0	2028	$1,800	$0.89	25d	1	1.25mi
3564 Estes Pl Unit 2 Cincinnati, OH	3.0	1.0	1662	$1,500	$0.90	3d	1	1.28mi
3139 Gaff Ave Cincinnati, OH	3.0	2.0	1711	$1,795	$1.05	18d	1	1.28mi
2421 Fairview Ave Cincinnati, OH	5.0	2.0	2400	$3,300	$1.38	25d	1	1.30mi
1354 Broadway Unit 1056136P Cincinnati, OH	4.0	3.0	2529	$7,307	$2.89	4d	1	1.30mi
111 W Elder St Unit 1056044P Cincinnati, OH	1.0–4.0	1.0–4.0	1835	$7,140	$3.89	12d	2	1.32mi
870 Rockdale Ave Cincinnati, OH	4.0	2.0	1749	$1,800	$1.03	25d	1	1.34mi
2704 W McMicken Ave Unit 2 Cincinnati, OH	3.0	1.0	1760	$1,500	$0.85	25d	1	1.36mi
1287 Ida St Cincinnati, OH	3.0	2.5	2494	$4,700	$1.88	18d	1	1.37mi
595 Martin Luther King Dr W Cincinnati, OH	3.0	2.0	2048	$1,650	$0.81	12d	1	1.38mi
1610 Pleasant St Unit 1056041P Cincinnati, OH	3.0–4.0	2.0–3.0	2960	$7,037	$2.38	12d	2	1.41mi
21 E 15th St Unit 1512946P Cincinnati, OH	3.0	2.0	2852	$12,830	$4.50	25d	1	1.41mi
1304 Broadway Unit 1056130P Cincinnati, OH	1.0–5.0	1.0–4.0	2072	$7,152	$3.45	12d	2	1.42mi
1537 Republic St Unit 1058850P Cincinnati, OH	4.0	3.0	2421	$10,677	$4.41	23d	1	1.42mi

Listing history 19 events

1. 2026-06-21
   days on market $424,900 Active 52 DOM
2. 2026-06-18
   days on market $424,900 Active 49 DOM
3. 2026-06-17
   days on market $424,900 Active 48 DOM
4. 2026-06-16
   days on market $424,900 Active 47 DOM
5. 2026-06-15
   days on market $424,900 Active 46 DOM
6. 2026-06-13
   days on market $424,900 Active 44 DOM
7. 2026-06-13
   days on market $424,900 Active 43 DOM
8. 2026-06-09
   days on market $424,900 Active 40 DOM
9. 2026-06-08
   days on market $424,900 Active 39 DOM
10. 2026-06-07
    days on market $424,900 Active 38 DOM
11. 2026-06-03
    days on market $424,900 Active 34 DOM
12. 2026-06-02
    days on market $424,900 Active 33 DOM
13. 2026-06-01
    days on market $424,900 Active 32 DOM
14. 2026-05-31
    days on market $424,900 Active 31 DOM
15. 2026-04-30
    listed $3,500
16. 2026-04-30
    listed $424,900 Active
17. 2026-04-06
    historical $3,500
18. 2026-03-11
    listed $3,500
19. 1991-12-19
    soldstatus $44,000

ⓘ 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: $4,071 · $339/mo
• Projected year-2 tax: $5,350 · $446/mo
• Expected delta: +$1,279/yr (+$107/mo · 31.4%)

ⓘ 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 · 18 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: $44,322
• − Mortgage interest: −$23,801
• − Property taxes: −$4,071
• − Insurance: −$2,124
• − Repairs & maintenance: −$3,546
• − Management: −$3,546
• − Depreciation: −$12,361
• Taxable loss: −$5,126
• Est. tax savings @ 24.0%: +$1,230
• After-tax cash flow: $3,311/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): 20,012
• Household income: $35,657
• Rent vs Own: 82.9% rent · 17.1% own
• Severe rent burden: 2461.0

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 (67%)
• Race & ethnicity: White 67% Black 16% Asian 7% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Romanian 3% Italian 2% Slovak 1%
• Foreign-born: 10% · China, Canada
• Languages at home: 88% English-only · Chinese 3% Spanish 2% Other Indo-European 2%

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: ▼ -134.46%
• Current HPI: 340.1262
• Rent YoY: ▲ 2.07%
• 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

-92.0% since first listed

5 events — show timeline

• 2026-04-30 Listed for Rent $3,500 APPFOLIO
• 2026-04-30 Listed $424,900 Cincy MLS
• 2026-04-06 Rental Removed $3,500 APPFOLIO
• 2026-03-11 Listed for Rent $3,500 APPFOLIO
• 1991-12-19 Sold (Public Records) $44,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $4,071 · +0.1% YoY. Source: county tax records.