2313 Elbe Ave · Hamilton, OH 45015

$164,000

2 bd · 1.0 ba · 1,104 sqft · SingleFamily public records · 116 Days on market

Built 1909 4,539 sqft lot $149/sqft · 7% above area Est $154k · 7% 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 +17.0/30.0
• DSCR +5.3/10.0
• ARV discount +4.5/15.0
• 1% rule +3.8/10.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Clean, updated and move-in ready. This well-maintained home offers a comfortable layout, recent updates, and a bright, inviting feel throughout. The spacious eat-in kitchen offers plenty of room for dining and gathering! A backyard and detached two-car garage for additional off street parking and extra storage, complete the home. A great option for first-time buyers or anyone looking for an affordable home. Great value at this price point. Schedule your showing today.

Key facts

• Updated appliances
• Full basement
• Newer cabinetry

Tags

• NEWER CABINETRY
• UPDATED APPLIANCES
• FUNCTIONAL LAYOUT
• FULL BASEMENT
• ADDITIONAL STORAGE
• LOW MAINTENANCE PROPERTY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $164k.

Deal economics

• At list price, monthly cash flow is $111 ($1k/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 $144k (12.5% below list).
• Recommended offer: $144k (12.5% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 5.1% in Hamilton — 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 73/100 on livability (#332 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: crime C-, amenities C-, employment D.
• Hamilton City (suburban): math 42% / reading 45% proficiency, ranked #517 of 656 in OH (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 13 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,163 units permitted in Butler County in 2024 (356 in 5+ unit buildings).
• This rent runs 36% of the median local income ($48k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $54k; list at $164k implies a 207% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.
• 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 $143,552 (12.5% below list)

Questions for the listing agent

1. It's been on market 116 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 1909 — 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. 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 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: 0.88% ✗
• Cap rate: 7.10%
• Cash-on-cash: 2.89%
• DSCR: 1.13
• GRM: 9.5

CMA / ARV

• ARV (median comp): $153,719
• List price: $164,000
• Delta: 6.69%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2031 Benninghofen Ave	0.27mi	2/1.0	1,080 (-2%)	2mo	$140,000	$130	82
1018 Minor Ave	0.37mi	3/2.0 (+1)	1,104 (0%)	2mo	$214,900	$195	72
928 Hooven Ave	0.40mi	2/1.5	1,056 (-4%)	3mo	$175,000	$166	70
890 Weller Ave	0.28mi	2/2.0	1,240 (+12%)	0mo	$220,000	$177	62
1024 Corwin Ave	0.63mi	2/2.0	1,132 (+2%)	0mo	$210,000	$186	62
410 Laurel Ave	0.42mi	2/1.0	962 (-13%)	1mo	$191,000	$199	58
639 Minor Ave	0.42mi	2/1.0	1,240 (+12%)	2mo	$172,000	$139	58
2024 Logan Ave	0.30mi	3/1.0 (+1)	1,260 (+14%)	3mo	$105,000	$83	55
340 Belle Ave	0.43mi	2/1.5	1,246 (+13%)	3mo	$132,500	$106	54
408 Fallert Ave	0.48mi	3/1.0 (+1)	969 (-12%)	0mo	$253,750	$262	52
348 Fairview Ave	0.41mi	3/1.0 (+1)	1,263 (+14%)	2mo	$125,000	$99	51
1681 Kahn Ave	0.65mi	2/1.0	960 (-13%)	2mo	$100,000	$104	46

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.57×
• Total profit: $-19,576
• Equity at exit: $24,453

10-year hold

• IRR: -2.6%
• Equity multiple: 0.82×
• Total profit: $-8,162
• Equity at exit: $14,180

Cash invested: $45,920 (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 45015

• Home prices YoY: -24.1%
• Active inventory: 13
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,436 high
• Mortgage (P&I): −$860
• Tax from tax record: −$95 /mo · $1,141/yr
• Insurance: −$68
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $111

Break-even live

Break-even rent $1,296

Max offer price $164,000

Occupancy floor 87%

Sensitivity live

Price	-10% $203	-5% $157	+0% $111	+5% $64	+10% $18
Rent	-10% $-3	-5% $54	+0% $111	+5% $167	+10% $224
Rate	-1.0pp $193	-0.5pp $152	base $111	+0.5pp $68	+1.0pp $25

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: $41,000
• Closing costs: $4,920
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1008 Fairview Ave Hamilton, OH	3.0	1.0	1080	$1,600	$1.48	3d	1	0.16mi
1005 Minor Ave Hamilton, OH	2.0	1.0	886	$1,495	$1.69	21d	1	0.39mi
1118 Bonacker Ave Unit 1116 Hamilton, OH	2.0	1.0	1000	$1,195	$1.20	45d	1	0.58mi
1794 See Ave Hamilton, OH	3.0	1.0	1272	$1,800	$1.42	12d	1	0.67mi
1310 Shuler Ave Unit 2 Hamilton, OH	2.0	1.0	976	$895	$0.92	25d	1	0.80mi
969 Harmon Ave Hamilton, OH	3.0	1.0	1350	$1,695	$1.26	45d	1	1.10mi
967 Shuler Ave Hamilton, OH	3.0	2.0	1466	$1,795	$1.22	45d	1	1.10mi
350 Vista Dr Unit 2 Hamilton, OH	1.0	1.0	700	$875	$1.25	3d	1	1.40mi
350 Vista Dr Apt 1 Hamilton, OH	1.0	1.0	700	$900	$1.29	45d	1	1.40mi
358 Hampshire Dr Unit 1FNA-49401 Hamilton, OH	2.0	1.0	788	$1,200	$1.52	9d	1	1.46mi
358 Hampshire Dr Hamilton, OH	1.0–2.0	1.0	687	$1,250	$1.82	3d	23	1.46mi

Listing history 17 events

1. 2026-06-21
   days on market $164,000 Active 116 DOM
2. 2026-06-18
   days on market $164,000 Active 113 DOM
3. 2026-06-17
   days on market $164,000 Active 112 DOM
4. 2026-06-16
   days on market $164,000 Active 111 DOM
5. 2026-06-15
   days on market $164,000 Active 110 DOM
6. 2026-06-13
   days on market $164,000 Active 108 DOM
7. 2026-06-13
   days on market $164,000 Active 107 DOM
8. 2026-06-09
   days on market $164,000 Active 104 DOM
9. 2026-06-08
   days on market $164,000 Active 103 DOM
10. 2026-06-07
    days on market $164,000 Active 102 DOM
11. 2026-06-03
    days on market $164,000 Active 98 DOM
12. 2026-06-02
    days on market $164,000 Active 97 DOM
13. 2026-06-01
    days on market $164,000 Active 96 DOM
14. 2026-05-31
    days on market $164,000 Active 95 DOM
15. 2026-04-09
    price $164,000 472-char remark

    Show marketing remark (472 chars)

    Clean, updated and move-in ready. This well-maintained home offers a comfortable layout, recent updates, and a bright, inviting feel throughout. The spacious eat-in kitchen offers plenty of room for dining and gathering! A backyard and detached two-car garage for additional off street parking and extra storage, complete the home. A great option for first-time buyers or anyone looking for an affordable home. Great value at this price point. Schedule your showing today.

16. 2026-02-25
    listed $179,900 Active 472-char remark

    Show marketing remark (472 chars)

    Clean, updated and move-in ready. This well-maintained home offers a comfortable layout, recent updates, and a bright, inviting feel throughout. The spacious eat-in kitchen offers plenty of room for dining and gathering! A backyard and detached two-car garage for additional off street parking and extra storage, complete the home. A great option for first-time buyers or anyone looking for an affordable home. Great value at this price point. Schedule your showing today.

17. 2002-01-03
    soldstatus $53,500

ⓘ 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: $1,141 · $95/mo
• Projected year-2 tax: $1,850 · $154/mo
• Expected delta: +$709/yr (+$59/mo · 62.1%)

ⓘ 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 ≥104°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: $17,226
• − Mortgage interest: −$9,187
• − Property taxes: −$1,141
• − Insurance: −$820
• − Repairs & maintenance: −$1,378
• − Management: −$1,378
• − Depreciation: −$4,771
• Taxable loss: −$1,448
• Est. tax savings @ 24.0%: +$348
• After-tax cash flow: $1,675/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: Hamilton City
• NCES district ID: 3904410
• Math proficiency: 42% ▼ -13.00%
• Reading proficiency: 45% ▼ -10.00%
• Median HH income: $40,488
• Composite: 36.48/100
• National rank: #4656
• State rank: #517 of 656 in OH

Livability — Hamilton

• Score: 73/100
• State rank: #332
• US rank: #5467

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hamilton, OH
• County: Butler County · 381,674 people
• City population: 140,900
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 11,038
• Household income: $48,312
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 407.0

Population outlook (Butler County) Hauer SSP2

• Today (2025): 387,706 people
• By 2030: 392,028 · +1.1%
• By 2040: 395,307 · +2.0%
• By 2050: 391,116 · +0.9%
• By 2075: 378,642 · -2.3%
• By 2100: 343,248 · -11.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 10% Hispanic / Latino 9% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 4% Cuban 1% Dominican 1%
• Common ancestry: Lithuanian 2% Italian 2% Greek 1%
• Foreign-born: 11% · Canada
• Languages at home: 88% English-only · Spanish 6% Arabic 3% French/Haitian/Cajun 1%

Political lean MEDSL · Butler

• 2024 margin: Strong R (+26.3) · D 36.4% · R 62.7%
• 2008→2024 swing: -3.6pp toward R · 2008: -22.6pp · 2024: -26.3pp
• All cycles: 2024: R+26.3 2020: R+24.0 2016: R+28.3 2012: R+26.2 2008: R+22.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.41%
• Current HPI: 253.3351
• Rent YoY: —
• 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

+206.5% since first listed

3 events — show timeline

• 2026-04-09 Price Changed $164,000 Cincy MLS
• 2026-02-25 Listed $179,900 Cincy MLS
• 2002-01-03 Sold (Public Records) $53,500 Public Records

Property tax history

-0.4%/yr

Latest (2025): $1,141 · +0.5% YoY. Source: county tax records.