432 Liberty Hl · Cincinnati, OH 45202

$784,000

4 bd · 4.0 ba · 3,063 sqft · MultiFamily public records · 125 Days on market

Built 2015 3,324 sqft 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 +14.4/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• 1% rule +3.0/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Incredible Opportunity to own one of the most impressive duplexes in Cincinnati! LEED Gold Certified for huge tax savings until 2032 plus added income from the lower level unit. Only 7 years old, this 2-bedroom, 2 full bath unit with amazing city views is the perfect combination of low maintenance & affordable living just steps from OTR. High end finishes and fixtures throughout. 2017 CRAN Awards Best Overall Project winner by Cincinnati AIA. Unit A currently leased (under market) for $1850/mo.

Key facts

• Low maintenance
• Steps from otr
• 3,324 sq ft lot

Tags

• LEED GOLD CERTIFICATION
• LOW MAINTENANCE
• STEPS FROM OTR
• BEST OVERALL PROJECT WINNER

Property features AI

Finance

• Other: Total buildings: 1

Exterior

• Parking: 2-car garage; 2 off-street open parking spaces; Off-street parking
• Utilities: Public water; Public sewer; Natural gas
• Home design: Duplex; Three or more levels; Poured foundation
• Construction: Brick construction; Metal roof
• Exterior features: Deck; Metal fence; Busline nearby

Interior

• Bedrooms: Two 2-bedroom units
• Bathrooms: Each unit has 2 full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Partial basement; Individual laundry
• Laundry & utility: Individual laundry in units

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $784k.

Deal economics

• At list price, monthly cash flow is $154 ($2k/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 $625k (20.3% below list).
• Recommended offer: $625k (20.3% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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.
• Zoned schools: Sands Montessori School (math 70% / reading 77%, grade A, #311 of 1,584 statewide, top 20%, 683 students, 22% FRL); Hartwell School (math 17% / reading 31%, grade F, #593 of 654 statewide, top 91%, 447 students, 0% FRL); Walnut Hills High School (math 79% / reading 89%, grade A, #17 of 781 statewide, top 2%, 2,582 students, 14% FRL) — zoned schools average 12% FRL vs 70% district-wide (59 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 60% at this address vs 30% district-wide (+30 pts) — the actual schools serving this property are materially stronger than the Cincinnati Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.7%/yr); 154 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $6,252/mo this rent would consume 78% of the median local household income ($96k/yr) (locally 1514% 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 $5k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($690k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $625,192 (20.3% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.80% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.84%
• DSCR: 1.04
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $434,946
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2207 Burnet Ave	0.65mi	5/3.0 (+1)	3,180 (+4%)	3mo	$400,000	$126	52
151 Goethe St	0.37mi	3/2.5 (-1)	2,907 (-5%)	14mo	$400,000	$138	51
2111 Burnet Ave	0.54mi	5/3.0 (+1)	2,643 (-14%)	11mo	$375,000	$142	34
1622 Pleasant St	0.60mi	5/3.0 (+1)	2,644 (-14%)	19mo	$621,000	$235	24

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 · 2.7% rent growth · sell at horizon

5-year hold

• IRR: -15.3%
• Equity multiple: 0.46×
• Total profit: $-119,394
• Equity at exit: $116,897

10-year hold

• IRR: -7.3%
• Equity multiple: 0.54×
• Total profit: $-100,187
• Equity at exit: $67,786

Cash invested: $219,520 (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 45202

• Rents YoY: 2.7%
• Active inventory: 154
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $6,252 high
• Mortgage (P&I): −$4,111
• Tax from tax record: −$347 /mo · $4,161/yr
• Insurance: −$327
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,313
• Net cashflow: $154

Break-even live

Break-even rent $6,057

Max offer price $784,000

Occupancy floor 93%

Sensitivity live

Price	-10% $598	-5% $376	+0% $154	+5% $-68	+10% $-290
Rent	-10% $-340	-5% $-93	+0% $154	+5% $401	+10% $648
Rate	-1.0pp $549	-0.5pp $354	base $154	+0.5pp $-49	+1.0pp $-256

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: $196,000
• Closing costs: $23,520
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1354 Broadway Unit 1056136P Cincinnati, OH	4.0	3.0	2529	$7,307	$2.89	4d	1	0.06mi
1304 Broadway Unit 1056130P Cincinnati, OH	1.0–5.0	1.0–4.0	2072	$7,152	$3.45	12d	2	0.17mi
328 Mulberry St Cincinnati, OH	3.0	3.5	2640	$5,500	$2.08	25d	1	0.22mi
328 Mulberry St Cincinnati, OH	3.0	3.5	2640	$5,500	$2.08	16d	1	0.22mi
126 E 13th St Unit 1056025P Cincinnati, OH	5.0	4.0	2960	$5,339	$1.80	4d	1	0.30mi
120 E 13th St Unit 1056091P Cincinnati, OH	4.0	2.0	3229	$10,667	$3.30	23d	1	0.32mi
21 E 15th St Unit 1512946P Cincinnati, OH	3.0	2.0	2852	$12,830	$4.50	25d	1	0.37mi
1537 Republic St Unit 1058850P Cincinnati, OH	4.0	3.0	2421	$10,677	$4.41	23d	1	0.48mi
1287 Ida St Cincinnati, OH	3.0	2.5	2494	$4,700	$1.88	19d	1	0.49mi
2105 Burnet Ave Unit 1056017P Cincinnati, OH	4.0	2.0	2960	$7,384	$2.49	3d	1	0.51mi
1424 Pleasant St Unit 1056038P Cincinnati, OH	4.0	3.0	2960	$7,167	$2.42	16d	1	0.54mi
55 Mulberry St Cincinnati, OH	3.0	3.0	2500	$3,500	$1.40	25d	1	0.55mi
1610 Pleasant St Unit 1056041P Cincinnati, OH	3.0–4.0	2.0–3.0	2960	$7,037	$2.38	12d	2	0.56mi
111 W Elder St Unit 1056044P Cincinnati, OH	1.0–4.0	1.0–4.0	1835	$7,140	$3.89	12d	2	0.59mi
122 W Elder St Unit 1056110P Cincinnati, OH	5.0	3.0	3444	$7,875	$2.29	3d	1	0.64mi
107 E Clifton Ave Unit 1234537P Cincinnati, OH	2.0–3.0	1.0–2.0	2260	$6,619	$2.93	16d	2	0.71mi
2017 Elm St Unit 1056145P Cincinnati, OH	5.0	2.0	3939	$7,694	$1.95	14d	1	0.77mi
2271 Vine St Cincinnati, OH	4.0	2.0	2268	$1,525	$0.67	6d	1	0.78mi
987 Hill St Cincinnati, OH	3.0	3.0	2878	$7,000	$2.43	3d	1	0.81mi
1 W 4th St Cincinnati, OH	3.0	1.0–3.5	1675	$9,200	$5.49	4d	96	0.96mi
918 Windsor St Cincinnati, OH	3.0	1.0	2583	$1,675	$0.65	25d	1	1.12mi
2317 Chickasaw St Cincinnati, OH	5.0	2.0	2826	$2,750	$0.97	16d	1	1.16mi
2813 Gerard St Unit 1540075P Cincinnati, OH	4.0	3.0	2152	$6,281	$2.92	22d	1	1.30mi
2800 Jefferson Ave Cincinnati, OH	4.0	2.0	2500	$625	$0.25	21d	1	1.31mi
2331 Park Ave Unit 1 Cincinnati, OH	3.0	2.5	2200	$2,350	$1.07	3d	1	1.34mi
2421 Fairview Ave Cincinnati, OH	5.0	2.0	2400	$3,300	$1.38	25d	1	1.48mi

Listing history 26 events

1. 2026-06-21
   days on market $784,000 Active 125 DOM
2. 2026-06-18
   days on market $784,000 Active 122 DOM
3. 2026-06-17
   days on market $784,000 Active 121 DOM
4. 2026-06-16
   days on market $784,000 Active 120 DOM
5. 2026-06-15
   days on market $784,000 Active 119 DOM
6. 2026-06-13
   days on market $784,000 Active 117 DOM
7. 2026-06-13
   days on market $784,000 Active 116 DOM
8. 2026-06-09
   days on market $784,000 Active 113 DOM
9. 2026-06-08
   days on market $784,000 Active 112 DOM
10. 2026-06-07
    days on market $784,000 Active 111 DOM
11. 2026-06-03
    days on market $784,000 Active 107 DOM
12. 2026-06-02
    days on market $784,000 Active 106 DOM
13. 2026-06-01
    days on market $784,000 Active 105 DOM
14. 2026-05-31
    days on market $784,000 Active 104 DOM
15. 2026-04-14
    price $784,000
16. 2026-02-15
    listed $799,000 Active
17. 2023-09-08
    price $744,000 503-char remark

    Show marketing remark (503 chars)

    Incredible Opportunity to own one of the most impressive duplexes in Cincinnati! LEED Gold Certified for huge tax savings until 2032 plus added income from the lower level unit. Only 7 years old, this 2-bedroom, 2 full bath unit with amazing city views is the perfect combination of low maintenance & affordable living just steps from OTR. High end finishes and fixtures throughout. 2017 CRAN Awards Best Overall Project winner by Cincinnati AIA. Unit A currently leased (under market) for $1850/mo.

18. 2023-09-08
    soldstatus $744,000

    Show marketing remark (503 chars)

    Incredible Opportunity to own one of the most impressive duplexes in Cincinnati! LEED Gold Certified for huge tax savings until 2032 plus added income from the lower level unit. Only 7 years old, this 2-bedroom, 2 full bath unit with amazing city views is the perfect combination of low maintenance & affordable living just steps from OTR. High end finishes and fixtures throughout. 2017 CRAN Awards Best Overall Project winner by Cincinnati AIA. Unit A currently leased (under market) for $1850/mo.

19. 2023-09-07
    soldstatus $744,000 Closed 503-char remark

    Show marketing remark (503 chars)

    Incredible Opportunity to own one of the most impressive duplexes in Cincinnati! LEED Gold Certified for huge tax savings until 2032 plus added income from the lower level unit. Only 7 years old, this 2-bedroom, 2 full bath unit with amazing city views is the perfect combination of low maintenance & affordable living just steps from OTR. High end finishes and fixtures throughout. 2017 CRAN Awards Best Overall Project winner by Cincinnati AIA. Unit A currently leased (under market) for $1850/mo.

20. 2023-08-08
    status Pending 503-char remark

    Show marketing remark (503 chars)

    Incredible Opportunity to own one of the most impressive duplexes in Cincinnati! LEED Gold Certified for huge tax savings until 2032 plus added income from the lower level unit. Only 7 years old, this 2-bedroom, 2 full bath unit with amazing city views is the perfect combination of low maintenance & affordable living just steps from OTR. High end finishes and fixtures throughout. 2017 CRAN Awards Best Overall Project winner by Cincinnati AIA. Unit A currently leased (under market) for $1850/mo.

21. 2023-08-07
    price $789,900 503-char remark

    Show marketing remark (503 chars)

    Incredible Opportunity to own one of the most impressive duplexes in Cincinnati! LEED Gold Certified for huge tax savings until 2032 plus added income from the lower level unit. Only 7 years old, this 2-bedroom, 2 full bath unit with amazing city views is the perfect combination of low maintenance & affordable living just steps from OTR. High end finishes and fixtures throughout. 2017 CRAN Awards Best Overall Project winner by Cincinnati AIA. Unit A currently leased (under market) for $1850/mo.

22. 2023-07-31
    listed $789,900 Active 503-char remark

    Show marketing remark (503 chars)

    Incredible Opportunity to own one of the most impressive duplexes in Cincinnati! LEED Gold Certified for huge tax savings until 2032 plus added income from the lower level unit. Only 7 years old, this 2-bedroom, 2 full bath unit with amazing city views is the perfect combination of low maintenance & affordable living just steps from OTR. High end finishes and fixtures throughout. 2017 CRAN Awards Best Overall Project winner by Cincinnati AIA. Unit A currently leased (under market) for $1850/mo.

23. 2013-08-15
    soldstatus $67,500 199-char remark

    Show marketing remark (199 chars)

    Great city views from historic Prospect Hill in Mt. Auburn. This parcel runs the length from Liberty Hill to Cooperation Alley, 23 x 126.50. Near to bus transportation, easy access to I-71 and I-471.

24. 2012-12-17
    listed $35,000 199-char remark

    Show marketing remark (199 chars)

    Great city views from historic Prospect Hill in Mt. Auburn. This parcel runs the length from Liberty Hill to Cooperation Alley, 23 x 126.50. Near to bus transportation, easy access to I-71 and I-471.

25. 2006-08-04
    soldstatus $42,500
26. 2006-05-05
    listed $48,000

ⓘ 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: $4,161 · $347/mo
• Projected year-2 tax: $8,195 · $683/mo
• Expected delta: +$4,035/yr (+$336/mo · 97.0%)

ⓘ 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 5/10 Major 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $75,023
• − Mortgage interest: −$43,916
• − Property taxes: −$4,161
• − Insurance: −$3,920
• − Repairs & maintenance: −$6,002
• − Management: −$6,002
• − Depreciation: −$22,807
• Taxable loss: −$11,785
• Est. tax savings @ 24.0%: +$2,828
• After-tax cash flow: $4,679/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): 17,869
• Household income: $95,633
• Rent vs Own: 73.6% rent · 26.4% own
• Severe rent burden: 1514.0

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 White (64%)
• Race & ethnicity: White 64% Black 23% Two or more races 6% Asian 4% Hispanic / Latino 2%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 2%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 91% English-only · Other Indo-European 2% Spanish 2% Other Asian/Pacific 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: ▼ -219.24%
• Current HPI: 233.4526
• Rent YoY: ▲ 2.70%
• 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

+1533.3% since first listed

12 events — show timeline

• 2026-04-14 Price Changed $784,000 Cincy MLS
• 2026-02-15 Listed $799,000 Cincy MLS
• 2023-09-08 Price Changed $744,000 Cincy MLS
• 2023-09-08 Sold (Public Records) $744,000 Public Records
• 2023-09-07 Sold (MLS) $744,000 Cincy MLS
• 2023-08-08 Pending — Cincy MLS
• 2023-08-07 Price Changed $789,900 Cincy MLS
• 2023-07-31 Listed $789,900 Cincy MLS
• 2013-08-15 Sold (MLS) $67,500 Cincy MLS
• 2012-12-17 Listed $35,000 Cincy MLS
• 2006-08-04 Sold (MLS) $42,500 Cincy MLS
• 2006-05-05 Listed $48,000 Cincy MLS

Property tax history

-8.9%/yr

Latest (2025): $4,161 · +3.1% YoY. Source: county tax records.