3606 Gamble Ave · Cheviot, OH 45211

$365,000

16 bd · 16.0 ba · — sqft · MultiFamily · 59 Days on market

Built 1935

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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 +25.8/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• 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 MLS

Great investment opportunity. Beautiful 4 unit building w/replacement windows, furnace, new AC, new garage door, all appliances stay, and coin operated laundry (leased). Perfect location close to bus stop, shopping, and dining.

Key facts

• Natural lighting
• Local park
• 4-unit property

Tags

• 4-UNIT PROPERTY
• IMMEDIATE RENTAL INCOME
• HARDWOOD FLOORS
• NATURAL LIGHTING
• FOOD AND SHOPPING NEARBY
• LOCAL PARK

Property features AI

Finance

• Other: Water paid by owner; Semi-annual tax information available
• Financial info: Four units total; Each unit currently rented at $700; Efficiency units: 4 (rent listed at $700 each)

Exterior

• Parking: Built-in garage; 4 garage spaces; 4 additional open parking spaces; On-street parking available
• Utilities: Public water; Public sewer; Natural gas
• Home design: Quad structure; Two levels
• Construction: Brick construction; Shingle roof; Poured foundation; One building on the parcel
• Exterior features: Aluminum windows; 50 x 115 lot dimensions

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Four 1-bedroom units (each unit has 1 bedroom)
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Gas heating; Central air conditioning
• Interior features: Full basement; Brick and none listed for fireplace (no fireplace specified)
• Laundry & utility: Separate gas and electric meters

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $365k.

Deal economics

• At list price, monthly cash flow is $881 ($11k/yr) — positive. Per door: $220/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $365k).
• Recommended offer: $354k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 5.1% in Cheviot — 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 78/100 on livability (#163 in OH, #2,446 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime C-, amenities D, employment 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 (+3.6%/yr); 82 active listings in the ZIP; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $4,398/mo this rent would consume 98% of the median local household income ($54k/yr) (locally 1916% 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 $11k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $102k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($354k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 18y ago; this cycle's ask has dropped $20k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $125k; list at $365k implies a 192% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $354,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% 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 1935 — 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. 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.
7. 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.
8. 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: 1.20% ✓
• Cap rate: 9.19%
• Cash-on-cash: 10.35%
• DSCR: 1.46
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.64% rent growth · sell at horizon

5-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-56
• Equity at exit: $54,423

10-year hold

• IRR: 10.3%
• Equity multiple: 1.83×
• Total profit: $84,522
• Equity at exit: $31,559

Cash invested: $102,200 (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 45211

• Home prices YoY: -32.0%
• Rents YoY: 3.6%
• Active inventory: 82
• Price-to-rent: 27.7×

Monthly cashflow live

• Estimated rent: $4,398 high
• Mortgage (P&I): −$1,914
• Tax from tax record: −$527 /mo · $6,323/yr
• Insurance: −$152
• HOA: −$0
• Vacancy / Maint / Mgmt: −$924
• Net cashflow: $881

Break-even live

Break-even rent $3,282

Max offer price $365,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,396
Total (4 units)			$4,398

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-18
   days on market $365,000 Active 59 DOM
2. 2026-06-17
   days on market $365,000 Active 58 DOM
3. 2026-06-16
   days on market $365,000 Active 57 DOM
4. 2026-06-15
   days on market $365,000 Active 56 DOM
5. 2026-06-13
   days on market $365,000 Active 54 DOM
6. 2026-06-13
   days on market $365,000 Active 53 DOM
7. 2026-06-09
   days on market $365,000 Active 50 DOM
8. 2026-06-08
   days on market $365,000 Active 49 DOM
9. 2026-06-07
   days on market $365,000 Active 48 DOM
10. 2026-06-03
    days on market $365,000 Active 44 DOM
11. 2026-06-02
    pricedays on market $365,000 Active 43 DOM
12. 2026-06-01
    days on market $385,000 Active 42 DOM
13. 2026-05-31
    days on market $385,000 Active 41 DOM
14. 2026-04-20
    listed $385,000 Active
15. 2019-11-21
    soldstatus $125,000
16. 2019-10-24
    historical
17. 2019-08-15
    status Active
18. 2019-07-30
    listed Contingency Pending
19. 2019-07-25
    listed $139,900
20. 2010-12-23
    soldstatus $110,000
21. 2010-12-13
    soldstatus $110,000 227-char remark

    Show marketing remark (227 chars)

    Great investment opportunity. Beautiful 4 unit building w/replacement windows, furnace, new AC, new garage door, all appliances stay, and coin operated laundry (leased). Perfect location close to bus stop, shopping, and dining.

22. 2009-10-08
    listed $139,900 227-char remark

    Show marketing remark (227 chars)

    Great investment opportunity. Beautiful 4 unit building w/replacement windows, furnace, new AC, new garage door, all appliances stay, and coin operated laundry (leased). Perfect location close to bus stop, shopping, and dining.

23. 2009-10-08
    historical

    Show marketing remark (227 chars)

    Great investment opportunity. Beautiful 4 unit building w/replacement windows, furnace, new AC, new garage door, all appliances stay, and coin operated laundry (leased). Perfect location close to bus stop, shopping, and dining.

24. 2009-02-01
    historical
25. 2009-01-31
    listed $119,900
26. 2008-06-02
    listed $199,900
27. 2003-02-05
    soldstatus $158,000
28. 1996-04-16
    soldstatus $128,500
29. 1986-04-25
    soldstatus $71,500

ⓘ 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: $6,323 · $527/mo
• Projected year-2 tax: $6,323 · $527/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 ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,776
• − Mortgage interest: −$20,446
• − Property taxes: −$6,323
• − Insurance: −$1,825
• − Repairs & maintenance: −$4,222
• − Management: −$4,222
• − Depreciation: −$10,618
• Taxable income: $5,120
• Est. tax owed @ 24.0%: −$1,229
• After-tax cash flow: $9,347/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 — Cheviot

• Score: 78/100
• State rank: #163
• US rank: #2446

Category grades

Amenities D Commute A+ Cost of living A+ Crime C- Employment F Housing A+ Health & safety B User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cheviot, OH
• County: Hamilton County · 701,295 people
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 38,049
• Household income: $53,868
• Rent vs Own: 47.5% rent · 52.5% own
• Severe rent burden: 1916.0

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 0.60)
• Race & ethnicity: White 50% Black 38% Two or more races 8% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Lithuanian 2% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 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: ▼ -101.15%
• Current HPI: 215.0659
• Rent YoY: ▲ 3.64%
• 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

+438.5% since first listed

16 events — show timeline

• 2026-04-20 Listed $385,000 Cincy MLS
• 2019-11-21 Sold (Public Records) $125,000 Public Records
• 2019-10-24 Listing Removed — Cincy MLS
• 2019-08-15 Relisted — Cincy MLS
• 2019-07-30 Listed — Cincy MLS
• 2019-07-25 Listed $139,900 Cincy MLS
• 2010-12-23 Sold (Public Records) $110,000 Public Records
• 2010-12-13 Sold (MLS) $110,000 Cincy MLS
• 2009-10-08 Listing Removed — Cincy MLS
• 2009-10-08 Listed $139,900 Cincy MLS
• 2009-02-01 Listing Removed — Cincy MLS
• 2009-01-31 Listed $119,900 Cincy MLS
• 2008-06-02 Listed $199,900 Cincy MLS
• 2003-02-05 Sold (Public Records) $158,000 Public Records
• 1996-04-16 Sold (Public Records) $128,500 Public Records
• 1986-04-25 Sold (Public Records) $71,500 Public Records

Property tax history

+9.0%/yr

Latest (2025): $6,323 · +0.7% YoY. Source: county tax records.