4206 Lafayette Ave · Norwood, OH 45212

$312,000

None bd · None ba · — sqft · MultiFamily · 248 Days on market

Built 1960 6,970 sqft lot Est $418k · 25% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

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

Fantastic Location: 5 Unit Investment Opportunity in Norwood. All 5 Units are efficiency Units. All 5 Units are rented. The current tenants are on MTM. Near Busline. Boiler 2014 Heat and water paid by Owner. Electric paid by tenants all on separate meters. Storage units for each tenant located in the basement. 24 hour notice for all showings.

Key facts

• Boiler 2014
• Off street parking
• Storage units

Tags

• 5 UNIT INVESTMENT OPPORTUNITY
• OFF STREET PARKING
• BOILER 2014
• STORAGE UNITS

Property features AI

Finance

• Financial info: Total units: 5; All units are efficiencies; Typical efficiency rent: $490

Exterior

• Parking: Off-street parking; Approximately 5 open parking spaces
• Utilities: Public sewer; Water at street; Owner pays water
• Home design: Multi-family property; Three or more levels
• Construction: Brick construction; Shingle roof; Poured foundation; Built as a single building with multiple units
• Exterior features: Patio; Busline nearby

Interior

• Kitchen: No kitchen-specific appliance data provided
• Bedrooms: Five efficiency units
• Heating & cooling: Hot water heating (owner pays heat); Wall unit cooling; Separate gas/electric meters (yes); Separate A/C available (yes)
• Interior features: Storage area; Full basement; Coin laundry
• Laundry & utility: On-site coin laundry

🏷️ Possibly a rental listed for sale. The $312,000 price doesn't fit this home's estimated sale value (~$417,617) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 5 × 1-bed/1-bath units multifamily listed at $312k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $419/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $312k).
• Recommended offer: $275k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.3% 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; 40 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 $5,446/mo this rent would consume 90% 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 $9k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.2% rent growth), your $87k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 248 days — a 12% lower offer ($275k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $78k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $97k; list at $312k implies a 222% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $274,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 248 days. Have you received any prior offers? Is the seller open to a 12% 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 1960 — 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: 1.75% ✓
• Cap rate: 14.35%
• Cash-on-cash: 28.76%
• DSCR: 2.28
• GRM: 4.8

CMA / ARV

• ARV (median comp): $417,617
• List price: $312,000
• Delta: -25.29%
• 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
2010 Hopkins Ave	0.10mi	6/3.0	3,178	3mo	$367,500	$116	81
2119 Slane Ave	0.13mi	6/2.0	2,573	2mo	$345,000	$134	80
2241 Cameron Ave	0.19mi	6/4.0	4,028	3mo	$538,500	$134	76
4005 Ivanhoe Ave	0.33mi	5/2.0	1,927	3mo	$160,000	$83	70
2011 Hudson Ave	0.43mi	3/3.0	—	0mo	$268,000	—	67
1930 Hudson Ave	0.43mi	4/3.0	2,590	2mo	$370,000	$143	66
2421 Hudson Ave	0.50mi	4/2.0	2,676	0mo	$367,000	$137	64
2018 Elm Ave	0.51mi	6/3.0	3,915	1mo	$390,000	$100	63
1762 Cleveland Ave	0.51mi	8/—	—	2mo	$454,190	—	62
3914 S Madison Ave	0.54mi	3/3.0	2,949	2mo	$415,000	$141	60
1907 Crown Ave	0.65mi	2/2.0	2,381	1mo	$220,000	$92	56
2432 Robertson Ave	0.74mi	—/—	2,285	2mo	$345,000	$151	51

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: 19.9%
• Equity multiple: 1.78×
• Total profit: $68,034
• Equity at exit: $46,520

10-year hold

• IRR: 26.1%
• Equity multiple: 2.99×
• Total profit: $173,699
• Equity at exit: $26,976

Cash invested: $87,360 (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: 23.9×

Monthly cashflow live

• Estimated rent: $5,446 high
• Mortgage (P&I): −$1,636
• Tax from tax record: −$442 /mo · $5,309/yr
• Insurance: −$130
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,144
• Net cashflow: $2,094

Break-even live

Break-even rent $2,796

Max offer price $312,000

Occupancy floor 57%

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

Units	Beds	Baths	Est. rent
▸ 5× units	1	1	$5,445
Total (5 units)			$5,446

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: $78,000
• Closing costs: $9,360
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4014 Montgomery Rd Cincinnati, OH	1.0	1.0	600	$975	$1.62	43d	1	0.19mi
2022 Williams Ave Unit 5 Cincinnati, OH	1.0	1.0	525	$995	$1.90	4d	1	0.19mi
4010 Montgomery Rd Unit 4 Norwood, OH	1.0	1.0	700	$895	$1.28	2d	1	0.21mi
4303 Allison St Cincinnati, OH	2.0	1.0	1070	$1,495	$1.40	4d	1	0.21mi
2131 Williams Ave Unit 1 Cincinnati, OH	1.0	1.0	950	$1,350	$1.42	4d	1	0.21mi
2131 Williams Ave Unit 1 Cincinnati, OH	2.0	1.0	900	$1,395	$1.55	23d	1	0.21mi
2131 Williams Ave Unit 2 Cincinnati, OH	1.0	1.0	950	$1,250	$1.32	43d	1	0.21mi
2131 Williams Ave Unit 1 Cincinnati, OH	2.0	1.0	900	$1,395	$1.55	43d	1	0.21mi
2131 Williams Ave Unit 2133 Cincinnati, OH	1.0	1.0	700	$1,100	$1.57	17d	1	0.21mi
1922 Hopkins Ave Unit 8 Cincinnati, OH	1.0	1.0	—	$900	—	43d	1	0.22mi
1931 Delaware Ave Unit 2 Norwood, OH	3.0	2.0	1650	$1,810	$1.10	43d	1	0.23mi
2200 Jefferson Ave Norwood, OH	1.0	1.0	600	$975	$1.62	7d	2	0.28mi
3923 Spencer Ave #2 Cincinnati, OH	3.0	1.0	—	$1,250	—	23d	1	0.31mi
3918 Regent Ave Cincinnati, OH	2.0	1.0	2778	$1,250	$0.45	23d	1	0.33mi
4539 Montgomery Rd Unit 2 Cincinnati, OH	1.0	1.0	1000	$1,100	$1.10	43d	1	0.35mi
4539 Montgomery Rd Unit 3 Cincinnati, OH	2.0	1.0	1200	$1,375	$1.15	23d	1	0.35mi
4539 Montgomery Rd Unit 2 Cincinnati, OH	1.0	1.0	1000	$1,100	$1.10	10d	1	0.35mi
4539 Montgomery Rd Unit 3 Cincinnati, OH	2.0	1.0	1200	$1,375	$1.15	10d	1	0.35mi
3901 Elsmere Ave Cincinnati, OH	3.0	2.0	1415	$1,995	$1.41	3d	1	0.36mi
2215 Washington Ave Unit 2 Cincinnati, OH	1.0	1.0	677	$800	$1.18	21d	1	0.38mi
4173 Forest Ave Unit Forest Ave unit RUN- Cincinnati, OH	1.0	1.0	757	$895	$1.18	43d	1	0.39mi
2212 Washington Ave Unit 2 Norwood, OH	1.0	1.0	560	$1,250	$2.23	43d	1	0.41mi
2212 Washington Ave Unit 3 Norwood, OH	1.0	1.0	—	$875	—	43d	1	0.41mi
1815 Cleveland Ave Apt 3 Cincinnati, OH	1.0	1.0	1012	$850	$0.84	23d	1	0.46mi
4133 Huston Ave Cincinnati, OH	3.0	1.0	1210	$1,725	$1.43	43d	1	0.48mi
4133 Huston Ave Cincinnati, OH	3.0	1.0	1210	$1,725	$1.43	12d	1	0.48mi
2516 Williams Ave Unit 2 Cincinnati, OH	1.0	1.0	650	$995	$1.53	43d	1	0.57mi
1911 Elm Ave Unit 2 Cincinnati, OH	2.0	1.0	688	$1,200	$1.74	7d	1	0.58mi
1740 Sherman Ave Unit 5 Cincinnati, OH	1.0	1.0	—	$750	—	17d	1	0.59mi
2320 Kenilworth Ave Cincinnati, OH	3.0	2.5	1660	$2,300	$1.39	20d	1	0.61mi
1701 Cleveland Ave Norwood, OH	1.0	1.0	1000	$1,200	$1.20	23d	1	0.62mi
2539 Leslie Ave Cincinnati, OH	1.0	1.0	—	$875	—	14d	1	0.68mi
2418 Robertson Ave Unit 2 Cincinnati, OH	1.0	1.0	800	$1,250	$1.56	4d	1	0.69mi
2418 Robertson Ave Unit 2 Cincinnati, OH	1.0	1.0	800	$1,450	$1.81	23d	1	0.69mi
1725 Cleneay Ave Norwood, OH	1.0–5.0	1.0–5.0	1060	$1,467	$1.38	1d	46	0.70mi
2420 Kenilworth Ave Unit 2 Norwood, OH	1.0	1.0	—	$850	—	23d	1	0.73mi
2417 Park Ave Cincinnati, OH	1.0	1.0	3154	$1,000	$0.32	43d	1	0.73mi
2607 Robertson Ave Unit 2 ROBERTSON 2607 Cincinnati, OH	3.0	1.0	1399	$1,895	$1.35	43d	1	0.77mi
3627 Montgomery Rd Unit 3627-3 Cincinnati, OH	3.0	1.0	850	$1,375	$1.62	14d	1	0.84mi
1621 Asmann Ave Apt 3 Cincinnati, OH	2.0	1.0	850	$1,195	$1.41	23d	1	0.85mi

Listing history 24 events

1. 2026-06-18
   days on market $312,000 Active 248 DOM
2. 2026-06-17
   days on market $312,000 Active 247 DOM
3. 2026-06-16
   days on market $312,000 Active 246 DOM
4. 2026-06-15
   days on market $312,000 Active 245 DOM
5. 2026-06-13
   days on market $312,000 Active 243 DOM
6. 2026-06-09
   days on market $312,000 Active 239 DOM
7. 2026-06-08
   days on market $312,000 Active 238 DOM
8. 2026-06-07
   days on market $312,000 Active 237 DOM
9. 2026-06-03
   days on market $312,000 Active 233 DOM
10. 2026-06-02
    days on market $312,000 Active 232 DOM
11. 2026-06-01
    days on market $312,000 Active 231 DOM
12. 2026-05-31
    days on market $312,000 Active 230 DOM
13. 2026-05-21
    price $312,000
14. 2026-04-22
    status Active
15. 2026-04-15
    historical Contingency Pending
16. 2026-03-11
    price $340,000
17. 2026-03-06
    status Active
18. 2026-02-20
    historical Contingency Pending
19. 2025-12-31
    price $369,900
20. 2025-10-03
    listed $390,000 Active
21. 1994-06-20
    soldstatus $97,000
22. 1994-06-20
    soldstatus $92,000
23. 1989-03-09
    soldstatus $85,000
24. 1978-03-01
    soldstatus $55,000

ⓘ 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: $5,309 · $442/mo
• Projected year-2 tax: $5,309 · $442/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 68% 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: $65,352
• − Mortgage interest: −$17,477
• − Property taxes: −$5,309
• − Insurance: −$1,560
• − Repairs & maintenance: −$5,228
• − Management: −$5,228
• − Depreciation: −$9,076
• Taxable income: $21,473
• Est. tax owed @ 24.0%: −$5,154
• After-tax cash flow: $19,971/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

+467.3% since first listed

12 events — show timeline

• 2026-05-21 Price Changed $312,000 Cincy MLS
• 2026-04-22 Relisted — Cincy MLS
• 2026-04-15 Contingent — Cincy MLS
• 2026-03-11 Price Changed $340,000 Cincy MLS
• 2026-03-06 Relisted — Cincy MLS
• 2026-02-20 Contingent — Cincy MLS
• 2025-12-31 Price Changed $369,900 Cincy MLS
• 2025-10-03 Listed $390,000 Cincy MLS
• 1994-06-20 Sold (Public Records) $92,000 Public Records
• 1994-06-20 Sold (Public Records) $97,000 Public Records
• 1989-03-09 Sold (Public Records) $85,000 Public Records
• 1978-03-01 Sold (Public Records) $55,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $5,309 · +0.3% YoY. Source: county tax records.