4120 St William Ave · Cincinnati, OH 45205

$199,900

4 bd · 2.0 ba · 2,370 sqft · MultiFamily public records · 126 Days on market

Built 1923 10,019 sqft lot Est $194k · at est.

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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 +28.1/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +6.2/15.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

The duplex is tenant occupied. Currently only one tenant leases the entire home. The tenant is month to month and pays $2000 plus all utilities. The home is part of a portfolio that can be sold separate or together. The property features two units, a 4 bed / 1 bath and a 2 bed / 1 bath unit approximately 1,185 sf per unit. Units have separate furnaces, hot water tanks and electric panels. HVAC and plumbing has been updated in last 5 years.

Key facts

• Month to month lease
• Tenant occupied
• Hvac updated

Tags

• TENANT OCCUPIED
• MONTH TO MONTH LEASE
• SEPARATE FURNACES
• HOT WATER TANKS
• ELECTRIC PANELS
• HVAC UPDATED

Property features AI

Finance

• Financial info: Two total units (income property)

Exterior

• Parking: On-street parking
• Utilities: Public water (water paid by tenant); Public sewer; Natural gas
• Home design: Duplex; Two stories; Poured foundation; Shingle roof
• Construction: Brick construction
• Exterior features: Wood window frames; Lot approximately 0.23 acres (10,019 sq ft)

Interior

• Bedrooms: Two-unit property: one 2-bedroom unit and one 3+ bedroom unit
• Heating & cooling: Gas heating (cost paid by tenant)
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $626 ($8k/yr) — positive. Per door: $313/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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 17d 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 $2,601/mo this rent would consume 71% 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.
• At projected returns (-3.0% appreciation + 3.3% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $126k; list at $200k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 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 1923 — 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. 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?
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: 1.30% ✓
• Cap rate: 10.05%
• Cash-on-cash: 13.42%
• DSCR: 1.60
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $194,340
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1006 Kreis Ln	0.18mi	5/2.0 (+1)	2,426 (+2%)	6mo	$269,000	$111	78
1026 Schiff Ave	0.26mi	5/2.0 (+1)	2,237 (-6%)	3mo	$180,000	$80	71
1205 Amanda Pl	0.36mi	4/2.0	2,237 (-6%)	6mo	$175,000	$78	69
4614 Midland Ave	0.36mi	3/3.0 (-1)	2,455 (+4%)	3mo	$195,000	$79	66
1054 Rutledge Ave	0.22mi	4/2.0	2,104 (-11%)	7mo	$200,000	$95	65
945 Oakland Ave	0.65mi	4/3.0	2,430 (+2%)	2mo	$105,000	$43	60
1230 Manss Ave	0.64mi	4/2.0	2,237 (-6%)	8mo	$223,470	$100	54
1114 Seton Ave	0.61mi	4/2.0	2,232 (-6%)	10mo	$54,000	$24	54
4367 Ridgeview Ave	0.41mi	4/2.0	2,665 (+12%)	10mo	$217,500	$82	52
822 Schiff Ave	0.24mi	5/— (+1)	2,016 (-15%)	10mo	$220,000	$109	50
1227 Texas Ave	0.42mi	5/— (+1)	2,049 (-14%)	7mo	$162,000	$79	47
4813 Rapid Run Rd	0.70mi	4/4.0	2,642 (+12%)	6mo	$245,000	$93	35

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: 3.8%
• Equity multiple: 1.15×
• Total profit: $8,326
• Equity at exit: $29,806

10-year hold

• IRR: 13.7%
• Equity multiple: 2.11×
• Total profit: $62,109
• 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 45205

• Rents YoY: 3.3%
• Active inventory: 69
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $2,601 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$297 /mo · $3,568/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$546
• Net cashflow: $626

Break-even live

Break-even rent $1,809

Max offer price $199,900

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,602
Total (2 units)			$2,601

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 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
943 Rosemont Ave Cincinnati, OH	5.0	1.5	2132	$1,700	$0.80	16d	1	0.19mi
4227 W 8th St Cincinnati, OH	3.0	2.0	1832	$2,050	$1.12	1d	1	0.23mi
905 Suire Ave Unit 2 Cincinnati, OH	4.0	1.0	1699	$1,400	$0.82	23d	1	0.25mi
862 Academy Ave Unit 2 Cincinnati, OH	4.0	1.0	1627	$1,450	$0.89	16d	1	0.44mi
931 Olive Ave Cincinnati, OH	3.0	1.0	1852	$1,500	$0.81	2d	1	0.71mi
1620 Minion Ave Cincinnati, OH	4.0	2.0	1845	$1,550	$0.84	20d	1	0.83mi
1723 Tuxworth Ave Cincinnati, OH	3.0	2.0	1587	$1,800	$1.13	23d	1	1.00mi
1024 Edgetree Ln Cincinnati, OH	3.0	2.0	1949	$2,250	$1.15	21d	1	1.26mi
1014 Considine Ave Cincinnati, OH	4.0	2.0	2200	$2,000	$0.91	1d	1	1.31mi

Listing history 16 events

1. 2026-06-18
   days on market $199,900 Active 126 DOM
2. 2026-06-17
   days on market $199,900 Active 125 DOM
3. 2026-06-16
   days on market $199,900 Active 124 DOM
4. 2026-06-15
   days on market $199,900 Active 123 DOM
5. 2026-06-13
   days on market $199,900 Active 121 DOM
6. 2026-06-13
   days on market $199,900 Active 120 DOM
7. 2026-06-09
   days on market $199,900 Active 117 DOM
8. 2026-06-08
   days on market $199,900 Active 116 DOM
9. 2026-06-07
   days on market $199,900 Active 115 DOM
10. 2026-06-03
    days on market $199,900 Active 111 DOM
11. 2026-06-02
    days on market $199,900 Active 110 DOM
12. 2026-06-01
    days on market $199,900 Active 109 DOM
13. 2026-05-31
    days on market $199,900 Active 108 DOM
14. 2026-04-20
    price $199,900
15. 2026-02-12
    listed $225,000 Active
16. 2006-11-08
    soldstatus $126,400

ⓘ 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: $3,568 · $297/mo
• Projected year-2 tax: $3,568 · $297/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,212
• − Mortgage interest: −$11,198
• − Property taxes: −$3,568
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,497
• − Management: −$2,497
• − Depreciation: −$5,815
• Taxable income: $4,638
• Est. tax owed @ 24.0%: −$1,113
• After-tax cash flow: $6,397/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

+58.1% since first listed

3 events — show timeline

• 2026-04-20 Price Changed $199,900 Cincy MLS
• 2026-02-12 Listed $225,000 Cincy MLS
• 2006-11-08 Sold (Public Records) $126,400 Public Records

Property tax history

+6.8%/yr

Latest (2025): $3,568 · +0.1% YoY. Source: county tax records.