6026 Colter Ave · Cincinnati, OH 45230

$450,000

16 bd · 16.0 ba · — sqft · MultiFamily · 48 Days on market

Built 1954 0.67 ac 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 +16.0/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• 1% rule +4.2/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• 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 (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

Turn-key, well-maintained four-family property at 6026 Colter Ave offering immediate income with significant value-add potential. This solid asset features four 1-bedroom units, all currently leased below market rentsproviding a clear opportunity to increase NOI and drive long-term equity growth. Each unit is clean, functional, and attractive to tenants, supporting stable occupancy and consistent cash flow. The oversized lot offers multiple avenues for expansion, including the potential to add an ADU or enhance outdoor amenities. There is also an opportunity to create a fifth unit in the basement (subject to approvals), further maximizing rental income. Additional upside includes installing

Key facts

• Four family property
• Value add potential
• Stable occupancy

Tags

• FOUR FAMILY PROPERTY
• IMMEDIATE INCOME
• VALUE ADD POTENTIAL
• CLEAN FUNCTIONAL UNITS
• STABLE OCCUPANCY
• CONSISTENT CASH FLOW

Property features AI

Finance

• Other: Lot size about 0.667 acres
• Financial info: Four rental units total; Typical 1-bedroom rent listed as $930

Exterior

• Parking: Detached garage with 4 garage spaces; 8 open parking spaces; Assigned and private garage parking
• Utilities: Public water; Public sewer; Natural gas
• Home design: Quadplex; Two stories; Rear detached garage
• Construction: Brick construction; Shingle roof; Poured foundation; Built as a multi-unit (quad)
• Exterior features: Insulated windows; Brick fireplace

Interior

• Bedrooms: Four 1-bedroom units
• Bathrooms: Four full bathrooms (one per unit)
• Heating & cooling: Gas heating; Hot water heating; Window-unit cooling
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $222 ($3k/yr) — positive. Per door: $55/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $416k (7.6% below list).
• Recommended offer: $416k (7.6% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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.
• Market conditions: Rents rising (+2.4%/yr); 64 active listings in the ZIP; solid renter incomes; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $4,157/mo this rent would consume 56% of the median local household income ($90k/yr) (locally 527% 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 $14k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y 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 $204k; list at $450k implies a 121% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $415,700 (7.6% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 8% 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 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.92% ✗
• Cap rate: 6.88%
• Cash-on-cash: 2.11%
• DSCR: 1.09
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.39% rent growth · sell at horizon

5-year hold

• IRR: -13.6%
• Equity multiple: 0.51×
• Total profit: $-61,299
• Equity at exit: $67,096

10-year hold

• IRR: -5.7%
• Equity multiple: 0.64×
• Total profit: $-45,336
• Equity at exit: $38,908

Cash invested: $126,000 (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 45230

• Rents YoY: 2.4%
• Active inventory: 64
• Price-to-rent: 36.1×

Monthly cashflow live

• Estimated rent: $4,157 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$515 /mo · $6,179/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$873
• Net cashflow: $222

Break-even live

Break-even rent $3,876

Max offer price $450,000

Occupancy floor 90%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$4,156
Total (4 units)			$4,157

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $450,000 Active 48 DOM
2. 2026-06-17
   days on market $450,000 Active 47 DOM
3. 2026-06-16
   days on market $450,000 Active 46 DOM
4. 2026-06-15
   days on market $450,000 Active 45 DOM
5. 2026-06-13
   days on market $450,000 Active 43 DOM
6. 2026-06-13
   days on market $450,000 Active 42 DOM
7. 2026-06-09
   days on market $450,000 Active 39 DOM
8. 2026-06-08
   days on market $450,000 Active 38 DOM
9. 2026-06-07
   days on market $450,000 Active 37 DOM
10. 2026-06-03
    days on market $450,000 Active 33 DOM
11. 2026-06-02
    days on market $450,000 Active 32 DOM
12. 2026-06-01
    days on market $450,000 Active 31 DOM
13. 2026-05-31
    days on market $450,000 Active 30 DOM
14. 2026-05-01
    listed $450,000 Active
15. 2011-06-10
    historical
16. 2010-11-12
    listed $179,900
17. 2010-11-10
    historical
18. 2010-05-11
    listed $185,000
19. 2010-02-20
    historical
20. 2009-08-19
    listed $189,900
21. 2009-03-27
    historical
22. 2008-11-17
    listed $220,999
23. 2005-08-29
    soldstatus $203,500
24. 2005-08-19
    soldstatus $203,500
25. 2005-07-08
    listed $209,900
26. 1990-10-02
    soldstatus $135,000

ⓘ 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: $6,179 · $515/mo
• Projected year-2 tax: $6,600 · $550/mo
• Expected delta: +$420/yr (+$35/mo · 6.8%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $49,884
• − Mortgage interest: −$25,207
• − Property taxes: −$6,179
• − Insurance: −$2,250
• − Repairs & maintenance: −$3,991
• − Management: −$3,991
• − Depreciation: −$13,091
• Taxable loss: −$4,825
• Est. tax savings @ 24.0%: +$1,158
• After-tax cash flow: $3,819/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): 27,501
• Household income: $89,516
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 527.0

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 (86%)
• Race & ethnicity: White 86% Two or more races 7% Hispanic / Latino 4% Black 4% Asian 1%
• Common ancestry: Romanian 2% Iranian 2% Slovak 2%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 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: ▼ -231.96%
• Current HPI: 224.6954
• Rent YoY: ▲ 2.39%
• 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

+233.3% since first listed

13 events — show timeline

• 2026-05-01 Listed $450,000 Cincy MLS
• 2011-06-10 Listing Removed — Cincy MLS
• 2010-11-12 Listed $179,900 Cincy MLS
• 2010-11-10 Listing Removed — Cincy MLS
• 2010-05-11 Listed $185,000 Cincy MLS
• 2010-02-20 Listing Removed — Cincy MLS
• 2009-08-19 Listed $189,900 Cincy MLS
• 2009-03-27 Listing Removed — Cincy MLS
• 2008-11-17 Listed $220,999 Cincy MLS
• 2005-08-29 Sold (Public Records) $203,500 Public Records
• 2005-08-19 Sold (MLS) $203,500 Cincy MLS
• 2005-07-08 Listed $209,900 Cincy MLS
• 1990-10-02 Sold (Public Records) $135,000 Public Records

Property tax history

+1.3%/yr

Latest (2025): $6,179 · +0.7% YoY. Source: county tax records.