1723 Montrose St · Cincinnati, OH 45214

$48,000

3 bd · 1.0 ba · 2,608 sqft · SingleFamily public records · 23 Days on market

Built 1890 3,180 sqft lot

---

Why this score? — see what drove the A- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Add this spacious home to your investment portfolio! This home is full of character and potential! A total of 3 parcels are being sold (203-0029-0125-00; 203-0029-0185-00; 203-0029-0186-00) providing a large outdoor area. Additional parking/storage is available in old style garage cut into the hill.

Key facts

• Large outdoor area
• 3,180 sq ft lot
• 2 garage spots

Tags

• LARGE OUTDOOR AREA
• ADDITIONAL PARKING STORAGE

Property features AI

Finance

• Other: Lot approximately 0.073 acres (32 x 100); Located in Fairmount; directions: 75S to Harrison Ave, right on Harrison Ave, left on Montrose
• Financial info: Lease not considered
• HOA & community: No HOA

Exterior

• Parking: Detached carport; 2 garage spaces; On-street parking available
• Utilities: Water at street; Gas at street; Public sewer; Gas water heating
• Home design: Traditional single-family home; Three or more levels; Residential zoning
• Construction: Aluminum siding; Block foundation
• Exterior features: Shingle roof; Vinyl windows

Interior

• Kitchen: Kitchen (dimensions listed but not specified)
• Bedrooms: 3 bedrooms (primary and bedroom 2 on level 2; bedroom 3 on level 3); Primary bedroom with unspecified additional features
• Bathrooms: 1 full bathroom on level 1
• Interior features: 7 total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $48k).
• Recommended offer: $47k (1.5% below list) — sets the bar for market timing.
• Cap rate 32.5% 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 fast (+8.1%/yr); 67 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $1,744/mo this rent would consume 75% of the median local household income ($28k/yr) (locally 857% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $5k of equity ($332 loan paydown + $5k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $13k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 6y 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 $22k; list at $48k implies a 118% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $47,280 (1.5% below list)

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 3.63% ✓
• Cap rate: 32.45%
• Cash-on-cash: 93.43%
• DSCR: 5.16
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $164,304
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1699 Westwood Ave	0.15mi	4/2.0 (+1)	2,390 (-8%)	18mo	$71,000	$30	55
1859 Baltimore Ave	0.59mi	4/2.0 (+1)	2,350 (-10%)	4mo	$148,000	$63	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.59×
• Total profit: $102,031
• Equity at exit: $43,242

10-year hold

• IRR: —
• Equity multiple: 21.16×
• Total profit: $270,948
• Equity at exit: $93,253

Cash invested: $13,440 (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 45214

• Home prices YoY: 3.6%
• Rents YoY: 8.1%
• Active inventory: 67
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,744 medium
• Mortgage (P&I): −$252
• Tax est. 1.5%: −$60 /mo · $720/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $1,046

Break-even live

Break-even rent $420

Max offer price $48,000

Occupancy floor 35%

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: $12,000
• Closing costs: $1,440
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1014 Considine Ave Cincinnati, OH	4.0	2.0	2200	$2,000	$0.91	2d	1	1.21mi
1620 Minion Ave Cincinnati, OH	4.0	2.0	1845	$1,550	$0.84	20d	1	1.30mi
2704 W McMicken Ave Unit 2 Cincinnati, OH	3.0	1.0	1760	$1,500	$0.85	24d	1	1.35mi
1241 Bates Ave Cincinnati, OH	3.0	2.5	2100	$1,875	$0.89	24d	1	1.35mi

Listing history 30 events

1. 2026-06-18
   days on market $48,000 Active 23 DOM
2. 2026-06-17
   days on market $48,000 Active 22 DOM
3. 2026-06-16
   days on market $48,000 Active 21 DOM
4. 2026-06-15
   days on market $48,000 Active 20 DOM
5. 2026-06-13
   days on market $48,000 Active 18 DOM
6. 2026-06-13
   days on market $48,000 Active 17 DOM
7. 2026-06-09
   days on market $48,000 Active 14 DOM
8. 2026-06-08
   days on market $48,000 Active 13 DOM
9. 2026-06-07
   days on market $48,000 Active 12 DOM
10. 2026-06-03
    days on market $48,000 Active 8 DOM
11. 2026-06-02
    days on market $48,000 Active 7 DOM
12. 2026-06-01
    days on market $48,000 Active 6 DOM
13. 2026-05-31
    days on market $48,000 Active 5 DOM
14. 2026-05-22
    listed $48,000 Active
15. 2026-02-13
    historical 300-char remark

    Show marketing remark (300 chars)

    Add this spacious home to your investment portfolio! This home is full of character and potential! A total of 3 parcels are being sold (203-0029-0125-00; 203-0029-0185-00; 203-0029-0186-00) providing a large outdoor area. Additional parking/storage is available in old style garage cut into the hill.

16. 2025-10-27
    price $54,900 300-char remark

    Show marketing remark (300 chars)

    Add this spacious home to your investment portfolio! This home is full of character and potential! A total of 3 parcels are being sold (203-0029-0125-00; 203-0029-0185-00; 203-0029-0186-00) providing a large outdoor area. Additional parking/storage is available in old style garage cut into the hill.

17. 2025-08-13
    listed $59,900 Active 300-char remark

    Show marketing remark (300 chars)

    Add this spacious home to your investment portfolio! This home is full of character and potential! A total of 3 parcels are being sold (203-0029-0125-00; 203-0029-0185-00; 203-0029-0186-00) providing a large outdoor area. Additional parking/storage is available in old style garage cut into the hill.

18. 2025-08-02
    historical 300-char remark

    Show marketing remark (300 chars)

    Add this spacious home to your investment portfolio! This home is full of character and potential! A total of 3 parcels are being sold (203-0029-0125-00; 203-0029-0185-00; 203-0029-0186-00) providing a large outdoor area. Additional parking/storage is available in old style garage cut into the hill.

19. 2025-05-02
    listed $72,000 Active 300-char remark

    Show marketing remark (300 chars)

    Add this spacious home to your investment portfolio! This home is full of character and potential! A total of 3 parcels are being sold (203-0029-0125-00; 203-0029-0185-00; 203-0029-0186-00) providing a large outdoor area. Additional parking/storage is available in old style garage cut into the hill.

20. 2025-04-01
    historical
21. 2025-03-01
    historical
22. 2024-11-06
    listed $82,000 Active
23. 2024-11-01
    listed $82,000 Active
24. 2022-03-22
    soldstatus $22,000
25. 2021-03-31
    historical
26. 2021-01-28
    price $35,900
27. 2020-12-30
    status Active
28. 2020-11-13
    historical Contingency Pending
29. 2020-08-19
    listed $24,900 Active
30. 1994-07-12
    soldstatus $29,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 20 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: $20,933
• − Mortgage interest: −$2,689
• − Property taxes: −$720
• − Insurance: −$240
• − Repairs & maintenance: −$1,675
• − Management: −$1,675
• − Depreciation: −$1,396
• Taxable income: $12,539
• Est. tax owed @ 24.0%: −$3,009
• After-tax cash flow: $9,547/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): 8,630
• Household income: $27,852
• Rent vs Own: 76.1% rent · 23.9% own
• Severe rent burden: 857.0

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: Majority Black (63%)
• Race & ethnicity: Black 63% White 27% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% 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: ▲ 15.01%
• Current HPI: 433.2346
• Rent YoY: ▲ 8.09%
• 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

+60.5% since first listed

17 events — show timeline

• 2026-05-22 Listed $48,000 Cincy MLS
• 2026-02-13 Listing Removed — Cincy MLS
• 2025-10-27 Price Changed $54,900 Cincy MLS
• 2025-08-13 Listed $59,900 Cincy MLS
• 2025-08-02 Listing Removed — Cincy MLS
• 2025-05-02 Listed $72,000 Cincy MLS
• 2025-04-01 Listing Removed — Cincy MLS
• 2025-03-01 Listing Removed — Dayton MLS
• 2024-11-06 Listed $82,000 Dayton MLS
• 2024-11-01 Listed $82,000 Cincy MLS
• 2022-03-22 Sold (Public Records) $22,000 Public Records
• 2021-03-31 Listing Removed — Cincy MLS
• 2021-01-28 Price Changed $35,900 Cincy MLS
• 2020-12-30 Relisted — Cincy MLS
• 2020-11-13 Contingent — Cincy MLS
• 2020-08-19 Listed $24,900 Cincy MLS
• 1994-07-12 Sold (Public Records) $29,900 Public Records

Property tax history

+16.7%/yr

Latest (2025): $3,503 · +760.6% YoY. Source: county tax records.