1918 Elm Ave · Norwood, OH 45212

$199,900

4 bd · 1.5 ba · 1,496 sqft · SingleFamily public records · 50 Days on market

Built 1891 3,223 sqft lot $134/sqft · 14% below area Est $231k · 14% under

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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 +19.1/30.0
• ARV discount +13.6/15.0
• DSCR +6.0/10.0
• 1% rule +4.8/10.0
• 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

Listing remarks MLS

Potential Galore! 3 Bedrooms, 2 full Bath, large open floorplan with garage.

Key facts

• 3,223 sq ft lot
• Garage
• Built 1891

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $213 ($3k/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 $196k (1.8% below list).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• This rent runs 33% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y 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 $125k; list at $200k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1891 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1891 — 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. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 7.57%
• Cash-on-cash: 4.56%
• DSCR: 1.20
• GRM: 8.5

CMA / ARV

• ARV (median comp): $231,291
• List price: $199,900
• Delta: -13.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1810 Lincoln Ave	0.29mi	3/1.5 (-1)	1,427 (-5%)	5mo	$179,000	$125	70
4627 Mcneil Ave	0.23mi	3/2.0 (-1)	1,594 (+7%)	6mo	$130,000	$82	66
2043 Lawrence Ave	0.29mi	3/1.5 (-1)	1,288 (-14%)	1mo	$297,500	$231	57
4108 Wood St	0.56mi	3/1.0 (-1)	1,405 (-6%)	1mo	$215,000	$153	56
4635 Baker St	0.38mi	3/1.0 (-1)	1,327 (-11%)	3mo	$200,000	$151	54
5121 Silver St	0.57mi	3/2.0 (-1)	1,600 (+7%)	4mo	$170,000	$106	51
4921 Wesley Ave	0.65mi	3/1.5 (-1)	1,354 (-10%)	1mo	$305,000	$225	48
1839 Hopkins Ave	0.54mi	3/2.0 (-1)	1,312 (-12%)	3mo	$172,000	$131	45
4233 Lowry Ave	0.48mi	3/2.0 (-1)	1,295 (-13%)	6mo	$219,000	$169	43
5033 Wesley Ave	0.69mi	4/2.0	1,675 (+12%)	3mo	$370,000	$221	43
5241 Globe Ave	0.67mi	3/1.5 (-1)	1,308 (-13%)	1mo	$245,000	$187	42
2323 Sherwood Ln	0.74mi	4/2.5	1,704 (+14%)	3mo	$360,000	$211	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 · 0.21% rent growth · sell at horizon

5-year hold

• IRR: -12.3%
• Equity multiple: 0.57×
• Total profit: $-24,205
• Equity at exit: $29,806

10-year hold

• IRR: -7.9%
• Equity multiple: 0.56×
• Total profit: $-24,428
• Equity at exit: $17,284

Cash invested: $55,972 (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 45212

• Rents YoY: 0.2%
• Active inventory: 56
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,963 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$206 /mo · $2,477/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $213

Break-even live

Break-even rent $1,694

Max offer price $199,900

Occupancy floor 84%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1709 Sherman Ave Unit 2 Cincinnati, OH	4.0	2.0	1500	$2,300	$1.53	1d	1	0.30mi
5217 Rhode Island Ave Cincinnati, OH	3.0	2.0	1739	$1,795	$1.03	23d	1	0.54mi
5135 Globe Ave Cincinnati, OH	3.0	2.0	1697	$1,895	$1.12	7d	1	0.55mi
5121 Silver St Cincinnati, OH	3.0	2.0	1600	$1,695	$1.06	23d	1	0.56mi
1931 Delaware Ave Unit 2 Norwood, OH	3.0	2.0	1650	$1,810	$1.10	43d	1	0.60mi
4133 Huston Ave Cincinnati, OH	3.0	1.0	1210	$1,725	$1.43	12d	1	0.61mi
4133 Huston Ave Cincinnati, OH	3.0	1.0	1210	$1,725	$1.43	43d	1	0.61mi
5302 Globe Ave Cincinnati, OH	3.0	1.0	1049	$1,895	$1.81	43d	1	0.73mi
1607 Asmann Ave Cincinnati, OH	1.0–4.0	1.0–1.5	1069	$1,695	$1.58	12d	6	0.80mi
2320 Kenilworth Ave Cincinnati, OH	3.0	2.5	1660	$2,300	$1.39	20d	1	0.84mi
3915 Lindley Ave Unit 2 Norwood, OH	4.0	2.0	1500	$1,950	$1.30	43d	1	0.84mi
3921 Spencer Ave Apt 2 Norwood, OH	4.0	1.0	1636	$2,400	$1.47	17d	1	0.89mi
3901 Elsmere Ave Cincinnati, OH	3.0	2.0	1415	$1,995	$1.41	3d	1	0.94mi
2607 Robertson Ave Unit 2 ROBERTSON 2607 Cincinnati, OH	3.0	1.0	1399	$1,895	$1.35	43d	1	1.06mi
1725 Cleneay Ave Norwood, OH	1.0–5.0	1.0–5.0	1060	$2,827	$2.67	1d	46	1.07mi
3550 Woodburn Ave Cincinnati, OH	3.0	1.0	1308	$2,000	$1.53	14d	1	1.41mi
979 Burton Ave Cincinnati, OH	3.0	1.0	1725	$1,595	$0.92	3d	1	1.42mi
3508 Bevis Ave Cincinnati, OH	5.0	2.0	1744	$2,400	$1.38	1d	1	1.45mi

Listing history 25 events

1. 2026-06-09
   days on market $199,900 Active 50 DOM
2. 2026-06-08
   days on market $199,900 Active 49 DOM
3. 2026-06-07
   days on market $199,900 Active 48 DOM
4. 2026-06-03
   days on market $199,900 Active 44 DOM
5. 2026-06-02
   days on market $199,900 Active 43 DOM
6. 2026-06-01
   days on market $199,900 Active 42 DOM
7. 2026-05-31
   days on market $199,900 Active 41 DOM
8. 2026-04-20
   listed $199,900 Active 77-char remark

   Show marketing remark (77 chars)

   Potential Galore! 3 Bedrooms, 2 full Bath, large open floorplan with garage.

9. 2023-08-03
   soldstatus $125,000
10. 2019-09-30
    soldstatus $70,000 Sold 269-char remark

    Show marketing remark (269 chars)

    Updated 4 bdrm 2 full bth 3 story home with just over 1700 sq ft. Possible 1st flr master with new carpet. New tile in entry way, kitchen and 2nd bath. Updated plumbing and some electric. Roof 2013, Furnace 2012, A/C 2016. Close to downtown, shopping and Restaurants.

11. 2019-09-03
    historical Contingency Pending 269-char remark

    Show marketing remark (269 chars)

    Updated 4 bdrm 2 full bth 3 story home with just over 1700 sq ft. Possible 1st flr master with new carpet. New tile in entry way, kitchen and 2nd bath. Updated plumbing and some electric. Roof 2013, Furnace 2012, A/C 2016. Close to downtown, shopping and Restaurants.

12. 2019-08-28
    price $89,900 269-char remark

    Show marketing remark (269 chars)

    Updated 4 bdrm 2 full bth 3 story home with just over 1700 sq ft. Possible 1st flr master with new carpet. New tile in entry way, kitchen and 2nd bath. Updated plumbing and some electric. Roof 2013, Furnace 2012, A/C 2016. Close to downtown, shopping and Restaurants.

13. 2019-08-19
    price $100,000 269-char remark

    Show marketing remark (269 chars)

    Updated 4 bdrm 2 full bth 3 story home with just over 1700 sq ft. Possible 1st flr master with new carpet. New tile in entry way, kitchen and 2nd bath. Updated plumbing and some electric. Roof 2013, Furnace 2012, A/C 2016. Close to downtown, shopping and Restaurants.

14. 2019-08-09
    price $105,000 269-char remark

    Show marketing remark (269 chars)

    Updated 4 bdrm 2 full bth 3 story home with just over 1700 sq ft. Possible 1st flr master with new carpet. New tile in entry way, kitchen and 2nd bath. Updated plumbing and some electric. Roof 2013, Furnace 2012, A/C 2016. Close to downtown, shopping and Restaurants.

15. 2019-07-30
    listed $110,000 Active 269-char remark

    Show marketing remark (269 chars)

    Updated 4 bdrm 2 full bth 3 story home with just over 1700 sq ft. Possible 1st flr master with new carpet. New tile in entry way, kitchen and 2nd bath. Updated plumbing and some electric. Roof 2013, Furnace 2012, A/C 2016. Close to downtown, shopping and Restaurants.

16. 2016-12-08
    historical
17. 2016-10-21
    status Active
18. 2016-10-14
    historical Accept Backup Offers
19. 2016-10-04
    listed $68,000 Active
20. 2014-09-30
    historical
21. 2014-06-06
    listed $54,900
22. 2012-09-07
    soldstatus $20,500
23. 2012-06-18
    listed $22,000
24. 2003-02-27
    soldstatus $47,000
25. 2003-02-27
    soldstatus $98,000

ⓘ 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: $2,477 · $206/mo
• Projected year-2 tax: $2,798 · $233/mo
• Expected delta: +$321/yr (+$27/mo · 12.9%)

ⓘ 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 5/10 Major 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: $23,555
• − Mortgage interest: −$11,198
• − Property taxes: −$2,477
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,884
• − Management: −$1,884
• − Depreciation: −$5,815
• Taxable loss: −$703
• Est. tax savings @ 24.0%: +$169
• After-tax cash flow: $2,721/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

+325.3% since first listed

18 events — show timeline

• 2026-04-20 Listed $199,900 Cincy MLS
• 2023-08-03 Sold (Public Records) $125,000 Public Records
• 2019-09-30 Sold (MLS) $70,000 Cincy MLS
• 2019-09-03 Contingent — Cincy MLS
• 2019-08-28 Price Changed $89,900 Cincy MLS
• 2019-08-19 Price Changed $100,000 Cincy MLS
• 2019-08-09 Price Changed $105,000 Cincy MLS
• 2019-07-30 Listed $110,000 Cincy MLS
• 2016-12-08 Listing Removed — Cincy MLS
• 2016-10-21 Relisted — Cincy MLS
• 2016-10-14 Contingent — Cincy MLS
• 2016-10-04 Listed $68,000 Cincy MLS
• 2014-09-30 Listing Removed — Cincy MLS
• 2014-06-06 Listed $54,900 Cincy MLS
• 2012-09-07 Sold (MLS) $20,500 Cincy MLS
• 2012-06-18 Listed $22,000 Cincy MLS
• 2003-02-27 Sold (Public Records) $98,000 Public Records
• 2003-02-27 Sold (Public Records) $47,000 Public Records

Property tax history

+17.4%/yr

Latest (2025): $2,477 · -0.0% YoY. Source: county tax records.