2055 Queen City Ave · Cincinnati, OH 45214

$142,000

3 bd · 2.0 ba · 1,845 sqft · MultiFamily public records · 52 Days on market

Built 1928 3,572 sqft lot Est $208k · 32% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

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

Solid duplex in South Fairmount, backing to Lick Run Greenway Project in an area of major redevelopment. Huge potential. Fully occupied, tenants on month to month leases. The first floor is a 1 bedroom one bath unit, and a 2 bedroom one bath unit occupies the second and third floors. Could be converted to a single family. Off Street parking. Separate water heaters and furnaces. Owner pays water.

Key facts

• Off street parking
• Separate furnaces
• 3,572 sq ft lot

Tags

• OFF STREET PARKING
• SEPARATE WATER HEATERS
• SEPARATE FURNACES

Property features AI

Finance

• Other: Both tenants are month-to-month
• Financial info: Property contains 2 total rental units; Unit 1 (1-bedroom, ~744): current rent $735 (month-to-month tenant); Unit 2 (2-bedroom, ~1,101): current rent $802 (month-to-month tenant)
• HOA & community: No HOA information provided

Exterior

• Parking: 2 garage spaces; 2 open parking spaces; On-street parking and driveway
• Security: No security details provided
• Utilities: Public water (owner pays water); Public sewer; Natural gas available
• Home design: Duplex; Two-story; Second floor area approximately 744 sq ft
• Construction: Wood siding exterior; Shingle roof; Poured foundation; Built with two levels
• Exterior features: Porch; Balcony; Vinyl windows

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Unit 1: 1 bedroom; Unit 2: 2 bedrooms
• Flooring: No flooring details provided
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Heating & cooling: Gas heating; Heat paid by tenants (for at least some utilities)
• Interior features: Full basement; Two levels; Inoperable fireplaces (2)
• Laundry & utility: Separate furnace for units; Separate gas and electric meters

🏷️ Possibly a rental listed for sale. The $142,000 price doesn't fit this home's estimated sale value (~$208,485) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $142k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $142k).
• Recommended offer: $138k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.4% 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; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $2,812/mo this rent would consume 121% 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 $15k of equity ($982 loan paydown + $14k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $40k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 29y 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 $52k; list at $142k implies a 173% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $137,740 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
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: 1.98% ✓
• Cap rate: 17.39%
• Cash-on-cash: 39.62%
• DSCR: 2.76
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $208,485
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4000 Akochia Ave	0.64mi	3/2.0	1,638 (-11%)	1mo	$155,000	$95	50
2909 Cavanaugh Ave	0.72mi	4/2.0 (+1)	1,984 (+8%)	10mo	$225,000	$113	41

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: 56.9%
• Equity multiple: 5.33×
• Total profit: $172,297
• Equity at exit: $127,925

10-year hold

• IRR: 52.5%
• Equity multiple: 13.11×
• Total profit: $481,302
• Equity at exit: $275,875

Cash invested: $39,760 (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: 13.4×

Monthly cashflow live

• Estimated rent: $2,812 high
• Mortgage (P&I): −$745
• Tax from tax record: −$105 /mo · $1,260/yr
• Insurance: −$59
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$591
• Net cashflow: $1,257

Break-even live

Break-even rent $1,221

Max offer price $142,000

Occupancy floor 50%

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$883
▸ 2× units	2	1	$1,930
Total (3 units)			$2,812

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: $35,500
• Closing costs: $4,260
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1852 Knox St Cincinnati, OH	4.0	1.5	1747	$1,850	$1.06	23d	1	0.64mi
1740 Minion Ave Cincinnati, OH	2.0	1.0	1320	$1,200	$0.91	23d	1	0.70mi
1620 Minion Ave Cincinnati, OH	4.0	2.0	1845	$1,550	$0.84	20d	1	0.88mi
1311 Manss Ave Cincinnati, OH	4.0	1.0	1409	$1,295	$0.92	4d	1	0.93mi
3666 Glenway Ave Cincinnati, OH	3.0	1.0	1339	$1,250	$0.93	23d	1	1.05mi
3350 Cavanaugh Ave Cincinnati, OH	4.0	2.5	2309	$1,995	$0.86	23d	1	1.08mi
1240 Rosemont Ave Cincinnati, OH	2.0	1.0	1280	$1,100	$0.86	20d	1	1.16mi
1233 Dewey Ave Cincinnati, OH	3.0	1.0	1411	$1,375	$0.97	4d	1	1.17mi
1214 Gilsey Ave Cincinnati, OH	3.0	1.0	1300	$1,300	$1.00	20d	1	1.17mi
1214 Gilsey Ave Cincinnati, OH	3.0	1.0	1300	$1,300	$1.00	23d	1	1.17mi
2621 Gehrum Ln Cincinnati, OH	3.0	1.0	1373	$1,850	$1.35	23d	1	1.18mi
3157 Sunshine Ave Cincinnati, OH	3.0	2.0	1894	$1,825	$0.96	2d	1	1.28mi
1014 Considine Ave Cincinnati, OH	4.0	2.0	2200	$2,000	$0.91	1d	1	1.32mi
2706 E Tower Dr Cincinnati, OH	1.0–3.0	1.0–2.0	951	$1,520	$1.60	1d	61	1.41mi
931 Olive Ave Cincinnati, OH	3.0	1.0	1852	$1,500	$0.81	2d	1	1.42mi
916 Fairbanks Ave Cincinnati, OH	4.0	1.0	1438	$1,695	$1.18	23d	1	1.46mi
862 Academy Ave Unit 2 Cincinnati, OH	4.0	1.0	1627	$1,450	$0.89	16d	1	1.49mi
1723 Tuxworth Ave Cincinnati, OH	3.0	2.0	1587	$1,800	$1.13	23d	1	1.49mi

Listing history 36 events

1. 2026-06-18
   days on market $142,000 Active 52 DOM
2. 2026-06-17
   days on market $142,000 Active 51 DOM
3. 2026-06-16
   days on market $142,000 Active 50 DOM
4. 2026-06-15
   days on market $142,000 Active 49 DOM
5. 2026-06-13
   days on market $142,000 Active 47 DOM
6. 2026-06-13
   days on market $142,000 Active 46 DOM
7. 2026-06-09
   days on market $142,000 Active 43 DOM
8. 2026-06-08
   days on market $142,000 Active 42 DOM
9. 2026-06-07
   days on market $142,000 Active 41 DOM
10. 2026-06-03
    days on market $142,000 Active 37 DOM
11. 2026-06-02
    days on market $142,000 Active 36 DOM
12. 2026-06-01
    days on market $142,000 Active 35 DOM
13. 2026-05-31
    days on market $142,000 Active 34 DOM
14. 2026-04-27
    listed $142,000 Active
15. 2025-08-31
    historical 398-char remark

    Show marketing remark (398 chars)

    Solid duplex in South Fairmount, backing to Lick Run Greenway Project in an area of major redevelopment. Huge potential. Fully occupied, tenants on month to month leases. The first floor is a 1 bedroom one bath unit, and a 2 bedroom one bath unit occupies the second and third floors. Could be converted to a single family. Off Street parking. Separate water heaters and furnaces. Owner pays water.

16. 2025-04-10
    status Active 398-char remark

    Show marketing remark (398 chars)

    Solid duplex in South Fairmount, backing to Lick Run Greenway Project in an area of major redevelopment. Huge potential. Fully occupied, tenants on month to month leases. The first floor is a 1 bedroom one bath unit, and a 2 bedroom one bath unit occupies the second and third floors. Could be converted to a single family. Off Street parking. Separate water heaters and furnaces. Owner pays water.

17. 2025-04-03
    historical Contingency Pending 398-char remark

    Show marketing remark (398 chars)

    Solid duplex in South Fairmount, backing to Lick Run Greenway Project in an area of major redevelopment. Huge potential. Fully occupied, tenants on month to month leases. The first floor is a 1 bedroom one bath unit, and a 2 bedroom one bath unit occupies the second and third floors. Could be converted to a single family. Off Street parking. Separate water heaters and furnaces. Owner pays water.

18. 2025-03-21
    listed $145,000 Active 398-char remark

    Show marketing remark (398 chars)

    Solid duplex in South Fairmount, backing to Lick Run Greenway Project in an area of major redevelopment. Huge potential. Fully occupied, tenants on month to month leases. The first floor is a 1 bedroom one bath unit, and a 2 bedroom one bath unit occupies the second and third floors. Could be converted to a single family. Off Street parking. Separate water heaters and furnaces. Owner pays water.

19. 2024-10-31
    historical 360-char remark

    Show marketing remark (360 chars)

    Solid duplex in South Fairmount, backing to Lick Run Greenway Project in an area of major redevelopment. Huge potential. Fully occupied, tenants on month to month leases. The first floor is a 1 bedroom one bath unit, and a 2 bedroom one bath unit occupies the second and third floors. Off Street parking. Separate water heaters and furnaces. Owner pays water.

20. 2024-10-09
    status Active 360-char remark

    Show marketing remark (360 chars)

    Solid duplex in South Fairmount, backing to Lick Run Greenway Project in an area of major redevelopment. Huge potential. Fully occupied, tenants on month to month leases. The first floor is a 1 bedroom one bath unit, and a 2 bedroom one bath unit occupies the second and third floors. Off Street parking. Separate water heaters and furnaces. Owner pays water.

21. 2024-10-02
    historical Contingency Pending 360-char remark

    Show marketing remark (360 chars)

    Solid duplex in South Fairmount, backing to Lick Run Greenway Project in an area of major redevelopment. Huge potential. Fully occupied, tenants on month to month leases. The first floor is a 1 bedroom one bath unit, and a 2 bedroom one bath unit occupies the second and third floors. Off Street parking. Separate water heaters and furnaces. Owner pays water.

22. 2024-04-19
    listed $149,900 Active 360-char remark

    Show marketing remark (360 chars)

    Solid duplex in South Fairmount, backing to Lick Run Greenway Project in an area of major redevelopment. Huge potential. Fully occupied, tenants on month to month leases. The first floor is a 1 bedroom one bath unit, and a 2 bedroom one bath unit occupies the second and third floors. Off Street parking. Separate water heaters and furnaces. Owner pays water.

23. 2019-12-17
    historical
24. 2019-10-16
    price $60,000
25. 2019-10-16
    status Active
26. 2019-08-30
    historical Contingency Pending
27. 2019-07-22
    status Active
28. 2019-07-18
    historical Contingency Pending
29. 2019-06-27
    listed $69,900 Active
30. 2017-10-05
    soldstatus $52,000
31. 2004-09-18
    historical
32. 2003-09-17
    listed $59,900
33. 1997-07-31
    soldstatus $16,800
34. 1997-07-31
    soldstatus $33,500
35. 1997-07-30
    soldstatus $33,500
36. 1997-02-03
    listed $34,500

ⓘ 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: $1,260 · $105/mo
• Projected year-2 tax: $1,737 · $145/mo
• Expected delta: +$478/yr (+$40/mo · 37.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% 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: $33,744
• − Mortgage interest: −$7,954
• − Property taxes: −$1,260
• − Insurance: −$1,376
• − Repairs & maintenance: −$2,700
• − Management: −$2,700
• − Depreciation: −$4,131
• Taxable income: $13,624
• Est. tax owed @ 24.0%: −$3,270
• After-tax cash flow: $11,816/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

+311.6% since first listed

23 events — show timeline

• 2026-04-27 Listed $142,000 Cincy MLS
• 2025-08-31 Listing Removed — Cincy MLS
• 2025-04-10 Relisted — Cincy MLS
• 2025-04-03 Contingent — Cincy MLS
• 2025-03-21 Listed $145,000 Cincy MLS
• 2024-10-31 Listing Removed — Cincy MLS
• 2024-10-09 Relisted — Cincy MLS
• 2024-10-02 Contingent — Cincy MLS
• 2024-04-19 Listed $149,900 Cincy MLS
• 2019-12-17 Listing Removed — Cincy MLS
• 2019-10-16 Price Changed $60,000 Cincy MLS
• 2019-10-16 Relisted — Cincy MLS
• 2019-08-30 Contingent — Cincy MLS
• 2019-07-22 Relisted — Cincy MLS
• 2019-07-18 Contingent — Cincy MLS
• 2019-06-27 Listed $69,900 Cincy MLS
• 2017-10-05 Sold (Public Records) $52,000 Public Records
• 2004-09-18 Listing Removed — Cincy MLS
• 2003-09-17 Listed $59,900 Cincy MLS
• 1997-07-31 Sold (Public Records) $33,500 Public Records
• 1997-07-31 Sold (Public Records) $16,800 Public Records
• 1997-07-30 Sold (MLS) $33,500 Cincy MLS
• 1997-02-03 Listed $34,500 Cincy MLS

Property tax history

+13.8%/yr

Latest (2025): $1,260 · +0.7% YoY. Source: county tax records.