812 Fairbanks Ave · Cincinnati, OH 45205

$200,000

5 bd · 2.0 ba · 2,046 sqft · MultiFamily public records · 365 Days on market

Built 1905 4,269 sqft lot Est $174k · 15% over

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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 +20.1/30.0
• DSCR +6.4/10.0
• 1% rule +4.9/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.7/15.0
• 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 MLS

Incredible investment opportunity for amazing cash flow on this duplex. Investor dream ! Complete Rehab.

Key facts

• 4,269 sq ft lot
• Built 1905
• Listed 365 days

Property features AI

Finance

• Financial info: Lease considered
• HOA & community: No HOA

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas
• Home design: Traditional single-family home; Two levels; Poured foundation
• Construction: Wood siding; Shingle roof
• Exterior features: Vinyl windows; Residential zoning

Interior

• Kitchen: Kitchen area approx. 15 x 16
• Bedrooms: 5 bedrooms total; Primary bedroom on level 1 (approx. 15 x 14); Bedroom 2 on level 2 (approx. 22 x 11); Bedroom 3 on level 2 (approx. 16 x 13); Bedroom 4 on level 2 (approx. 9 x 10); Bedroom 5 on level 2 (approx. 12 x 10)
• Bathrooms: 2 full bathrooms (one on level 1, one on level 2)
• Heating & cooling: Forced air heating (gas); Central air conditioning; Gas water heating
• Interior features: 10 total rooms; Partial, unfinished basement

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $248 ($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 $199k (0.7% below list).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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.
• Market conditions: Rents rising (+3.3%/yr); 69 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $1,986/mo this rent would consume 55% of the median local household income ($44k/yr) (locally 980% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 365 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 8y ago; this cycle's ask is 8991% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $76k; list at $200k implies a 163% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $176,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 365 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
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: 0.99% ✗
• Cap rate: 7.78%
• Cash-on-cash: 5.32%
• DSCR: 1.24
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $173,910
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
933 Enright Ave	0.28mi	5/2.0	2,026 (-1%)	7mo	$190,000	$94	80
3606 W Eighth St	0.16mi	5/—	2,075 (+1%)	13mo	$234,000	$113	79
1011 Purcell Ave	0.35mi	6/2.0 (+1)	2,056 (+0%)	9mo	$174,000	$85	71
539 Woodlawn Ave	0.29mi	4/2.5 (-1)	2,176 (+6%)	10mo	$105,000	$48	60
482 Elberon Ave	0.46mi	4/2.0 (-1)	2,151 (+5%)	12mo	$58,000	$27	55
868 Academy Ave	0.59mi	5/2.0	1,934 (-6%)	10mo	$245,000	$127	55
327 Crestline Ave	0.66mi	5/2.0	2,250 (+10%)	4mo	$160,000	$71	50
1104 Carson Ave	0.47mi	4/2.0 (-1)	1,860 (-9%)	13mo	$100,000	$54	47
1114 Seton Ave	0.57mi	4/2.0 (-1)	2,232 (+9%)	10mo	$54,000	$24	45
3312 Glenway Ave	0.53mi	4/2.0 (-1)	1,883 (-8%)	17mo	$114,900	$61	43
1030 Seton Ave	0.54mi	4/2.5 (-1)	2,242 (+10%)	13mo	$222,500	$99	41
545 Considine Ave	0.39mi	6/3.0 (+1)	2,346 (+15%)	10mo	$260,000	$111	40

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 · 3.3% rent growth · sell at horizon

5-year hold

• IRR: -7.7%
• Equity multiple: 0.71×
• Total profit: $-16,003
• Equity at exit: $29,821

10-year hold

• IRR: 2.2%
• Equity multiple: 1.16×
• Total profit: $8,877
• Equity at exit: $17,292

Cash invested: $56,000 (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 45205

• Rents YoY: 3.3%
• Active inventory: 69
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,986 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$189 /mo · $2,266/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $248

Break-even live

Break-even rent $1,672

Max offer price $200,000

Occupancy floor 82%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
916 Fairbanks Ave Cincinnati, OH	4.0	1.0	1438	$1,695	$1.18	23d	1	0.06mi
928 Fairbanks Ave Cincinnati, OH	5.0	2.0	1530	$2,200	$1.44	43d	1	0.10mi
1014 Considine Ave Cincinnati, OH	4.0	2.0	2200	$2,000	$0.91	1d	1	0.37mi
862 Academy Ave Unit 2 Cincinnati, OH	4.0	1.0	1627	$1,450	$0.89	16d	1	0.60mi
905 Suire Ave Unit 2 Cincinnati, OH	4.0	1.0	1699	$1,400	$0.82	23d	1	0.78mi
1620 Minion Ave Cincinnati, OH	4.0	2.0	1845	$1,550	$0.84	20d	1	0.84mi
943 Rosemont Ave Cincinnati, OH	5.0	1.5	2132	$1,700	$0.80	16d	1	0.87mi
2454 River Rd Unit 2 Cincinnati, OH	4.0	1.0	1400	$1,595	$1.14	23d	1	0.87mi
1311 Manss Ave Cincinnati, OH	4.0	1.0	1409	$1,295	$0.92	4d	1	0.91mi

Listing history 34 events

1. 2026-01-24
   historical $1,900
2. 2026-01-15
   price $1,900
3. 2025-12-29
   listed $2,200
4. 2025-11-13
   price $200,000
5. 2025-09-08
   price $210,000
6. 2025-07-25
   price $225,000
7. 2025-06-06
   price $235,000
8. 2025-05-30
   listed $250,000 Active
9. 2023-09-13
   price $76,000 104-char remark

   Show marketing remark (104 chars)

   Incredible investment opportunity for amazing cash flow on this duplex. Investor dream ! Complete Rehab.

10. 2023-05-31
    soldstatus $76,000 Closed 104-char remark

    Show marketing remark (104 chars)

    Incredible investment opportunity for amazing cash flow on this duplex. Investor dream ! Complete Rehab.

11. 2023-05-24
    status Pending 104-char remark

    Show marketing remark (104 chars)

    Incredible investment opportunity for amazing cash flow on this duplex. Investor dream ! Complete Rehab.

12. 2023-05-24
    price $88,000 104-char remark

    Show marketing remark (104 chars)

    Incredible investment opportunity for amazing cash flow on this duplex. Investor dream ! Complete Rehab.

13. 2023-05-01
    price $88,000 104-char remark

    Show marketing remark (104 chars)

    Incredible investment opportunity for amazing cash flow on this duplex. Investor dream ! Complete Rehab.

14. 2023-04-25
    price $95,000 104-char remark

    Show marketing remark (104 chars)

    Incredible investment opportunity for amazing cash flow on this duplex. Investor dream ! Complete Rehab.

15. 2023-04-20
    listed $99,999 Active 104-char remark

    Show marketing remark (104 chars)

    Incredible investment opportunity for amazing cash flow on this duplex. Investor dream ! Complete Rehab.

16. 2022-12-18
    historical
17. 2022-12-18
    price $110,000
18. 2022-10-18
    price $98,000
19. 2022-08-23
    price $105,000
20. 2022-08-18
    listed $110,000 Active
21. 2022-07-30
    historical
22. 2022-05-18
    price $110,000
23. 2022-05-02
    price $124,000
24. 2022-01-25
    listed $130,000 Active
25. 2020-06-18
    soldstatus $97,000
26. 2018-08-30
    soldstatus $31,000
27. 2018-08-16
    soldstatus $31,000 Sold
28. 2018-07-17
    historical Accept Backup Offers
29. 2018-07-10
    price $33,000
30. 2018-06-28
    status Active
31. 2018-06-26
    historical Accept Backup Offers
32. 2018-06-18
    listed $35,000 Active
33. 1992-10-14
    soldstatus $52,000
34. 1989-06-28
    soldstatus $35,000

ⓘ 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: $2,266 · $189/mo
• Projected year-2 tax: $2,693 · $224/mo
• Expected delta: +$427/yr (+$36/mo · 18.8%)

ⓘ 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 ≥102°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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,837
• − Mortgage interest: −$11,203
• − Property taxes: −$2,266
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,907
• − Management: −$1,907
• − Depreciation: −$5,818
• Taxable loss: −$264
• Est. tax savings @ 24.0%: +$63
• After-tax cash flow: $3,043/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): 18,651
• Household income: $43,682
• Rent vs Own: 63.1% rent · 36.9% own
• Severe rent burden: 980.0

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 0.69)
• Race & ethnicity: Black 43% White 32% Hispanic / Latino 16% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 1% Slovak 1% Serbian 1%
• Foreign-born: 9% · Canada, India, China
• Languages at home: 84% English-only · Spanish 10% Other Asian/Pacific 2% 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: ▼ -138.67%
• Current HPI: 163.3375
• Rent YoY: ▲ 3.30%
• 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

-94.6% since first listed

34 events — show timeline

• 2026-01-24 Rental Removed $1,900 TURBOTENANT
• 2026-01-15 Price Changed $1,900 TURBOTENANT
• 2025-12-29 Listed for Rent $2,200 TURBOTENANT
• 2025-11-13 Price Changed $200,000 Cincy MLS
• 2025-09-08 Price Changed $210,000 Cincy MLS
• 2025-07-25 Price Changed $225,000 Cincy MLS
• 2025-06-06 Price Changed $235,000 Cincy MLS
• 2025-05-30 Listed $250,000 Cincy MLS
• 2023-09-13 Price Changed $76,000 Cincy MLS
• 2023-05-31 Sold (MLS) $76,000 Cincy MLS
• 2023-05-24 Pending — Cincy MLS
• 2023-05-24 Price Changed $88,000 Cincy MLS
• 2023-05-01 Price Changed $88,000 Cincy MLS
• 2023-04-25 Price Changed $95,000 Cincy MLS
• 2023-04-20 Listed $99,999 Cincy MLS
• 2022-12-18 Price Changed $110,000 Cincy MLS
• 2022-12-18 Listing Removed — Cincy MLS
• 2022-10-18 Price Changed $98,000 Cincy MLS
• 2022-08-23 Price Changed $105,000 Cincy MLS
• 2022-08-18 Listed $110,000 Cincy MLS
• 2022-07-30 Listing Removed — Cincy MLS
• 2022-05-18 Price Changed $110,000 Cincy MLS
• 2022-05-02 Price Changed $124,000 Cincy MLS
• 2022-01-25 Listed $130,000 Cincy MLS
• 2020-06-18 Sold (Public Records) $97,000 Public Records
• 2018-08-30 Sold (Public Records) $31,000 Public Records
• 2018-08-16 Sold (MLS) $31,000 Cincy MLS
• 2018-07-17 Contingent — Cincy MLS
• 2018-07-10 Price Changed $33,000 Cincy MLS
• 2018-06-28 Relisted — Cincy MLS
• 2018-06-26 Contingent — Cincy MLS
• 2018-06-18 Listed $35,000 Cincy MLS
• 1992-10-14 Sold (Public Records) $52,000 Public Records
• 1989-06-28 Sold (Public Records) $35,000 Public Records

Property tax history

+6.9%/yr

Latest (2025): $2,266 · +0.1% YoY. Source: county tax records.