160 First St · Addyston, OH 45001

$210,000

5 bd · 3.0 ba · 2,284 sqft · MultiFamily public records · 51 Days on market

Built 1880 3,964 sqft lot $92/sqft · 57% above area

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Why this score? — see what drove the B+ 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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• 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

Great investment opportunity in Addyston! All units are occupied. Priced to sell. 3 units in building.

Key facts

• 3,964 sq ft lot
• Built 1880
• Listed 51 days

Property features AI

Finance

• Other: Property on a 40 x 100 lot (approx. 0.091 acre)
• Financial info: Three total units; Unit rents: $630, $780, $600 (3-bedroom units reported with market rent around $670); Heat paid by tenants; water paid by owner
• HOA & community: No HOA information provided

Exterior

• Parking: On-street parking
• Security: No security features provided
• Utilities: Public water; Public sewer; Natural gas
• Home design: Triplex; Two stories; Stone foundation; Shingle roof; Zoned residential — multi-family
• Construction: Vinyl siding; Built with stone foundation
• Exterior features: Porch; Vinyl and double-hung windows

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Three 3+ bedroom units (each unit: 2 bedrooms)
• Flooring: No flooring details provided
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Gas heating with hot water; Window A/C units; Heat paid by tenants
• Interior features: Full basement; Porch
• Laundry & utility: Separate utilities for each unit (separate furnace, separate A/C, separate gas/electric)

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $210k.

Deal economics

• At list price, monthly cash flow is $983 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $204k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#556 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A-; Watch: health & safety C-, crime D+, employment D+.
• Three Rivers Local (rural): math 58% / reading 61% proficiency, ranked #256 of 656 in OH (top 39%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Three Rivers Elementary (math 65% / reading 52%, grade B-, #708 of 1,584 statewide, top 45%, 793 students, 35% FRL); Taylor Middle School (math 54% / reading 65%, grade B, #271 of 654 statewide, top 43%, 665 students, 40% FRL); Taylor High School (math 24% / reading 67%, grade D-, #463 of 781 statewide, top 59%, 644 students, 32% FRL) — zoned schools at 36% FRL track the district average.
• Market conditions: 5 active listings in the ZIP; lower-income renter base — watch delinquency; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $2,900/mo this rent would consume 78% of the median local household income ($45k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $21k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $59k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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 $53k; list at $210k implies a 296% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $203,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D 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. 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: 1.38% ✓
• Cap rate: 11.91%
• Cash-on-cash: 20.06%
• DSCR: 1.89
• GRM: 6.0

CMA / ARV

• ARV (median comp): $133,872
• List price: $210,000
• Delta: 56.87%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 39.2%
• Equity multiple: 4.01×
• Total profit: $176,936
• Equity at exit: $189,185

10-year hold

• IRR: 33.8%
• Equity multiple: 9.02×
• Total profit: $471,723
• Equity at exit: $407,984

Cash invested: $58,800 (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 45001

• Home prices YoY: 8.4%
• Active inventory: 5
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $2,900 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$119 /mo · $1,431/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$609
• Net cashflow: $983

Break-even live

Break-even rent $1,656

Max offer price $210,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,102	-5% $1,042	+0% $983	+5% $924	+10% $864
Rent	-10% $754	-5% $868	+0% $983	+5% $1,098	+10% $1,212
Rate	-1.0pp $1,089	-0.5pp $1,036	base $983	+0.5pp $929	+1.0pp $873

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,900
Total (2 units)			$2,900

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $210,000 Active 51 DOM
2. 2026-06-21
   days on market $210,000 Active 50 DOM
3. 2026-06-18
   days on market $210,000 Active 48 DOM
4. 2026-06-17
   days on market $210,000 Active 47 DOM
5. 2026-06-16
   days on market $210,000 Active 46 DOM
6. 2026-06-15
   days on market $210,000 Active 45 DOM
7. 2026-06-13
   days on market $210,000 Active 43 DOM
8. 2026-06-12
   days on market $210,000 Active 42 DOM
9. 2026-06-09
   days on market $210,000 Active 39 DOM
10. 2026-06-08
    days on market $210,000 Active 38 DOM
11. 2026-06-08
    days on market $210,000 Active 37 DOM
12. 2026-06-04
    days on market $210,000 Active 33 DOM
13. 2026-06-02
    days on market $210,000 Active 32 DOM
14. 2026-06-01
    days on market $210,000 Active 31 DOM
15. 2026-05-31
    days on market $210,000 Active 30 DOM
16. 2026-05-01
    listed $210,000 Active 326-char remark
17. 2016-08-17
    soldstatus $53,000
18. 2016-08-09
    soldstatus $53,000 Sold 102-char remark

    Show marketing remark (102 chars)

    Great investment opportunity in Addyston! All units are occupied. Priced to sell. 3 units in building.

19. 2016-06-09
    historical Accept Backup Offers 102-char remark

    Show marketing remark (102 chars)

    Great investment opportunity in Addyston! All units are occupied. Priced to sell. 3 units in building.

20. 2016-05-03
    listed $65,000 Active 102-char remark

    Show marketing remark (102 chars)

    Great investment opportunity in Addyston! All units are occupied. Priced to sell. 3 units in building.

ⓘ 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: $1,431 · $119/mo
• Projected year-2 tax: $2,353 · $196/mo
• Expected delta: +$923/yr (+$77/mo · 64.5%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,800
• − Mortgage interest: −$11,763
• − Property taxes: −$1,431
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,784
• − Management: −$2,784
• − Depreciation: −$6,109
• Taxable income: $8,879
• Est. tax owed @ 24.0%: −$2,131
• After-tax cash flow: $9,665/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: Three Rivers Local
• NCES district ID: 3904739
• Math proficiency: 58% ▼ -9.00%
• Reading proficiency: 61% ▼ -10.00%
• Median HH income: $72,973
• Composite: 52.85/100
• National rank: #1533
• State rank: #256 of 656 in OH

Livability — Addyston

• Score: 68/100
• State rank: #556
• US rank: #9484

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Addyston, OH
• County: Hamilton · 838,887 people
• City population: 863
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 863
• Household income: $44,861
• Rent vs Own: 60.0% rent · 40.0% own
• Severe rent burden: 9.5

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: Predominantly White (75%)
• Race & ethnicity: White 75% Black 17% Two or more races 8%
• Common ancestry: Iranian 2%
• Foreign-born: 0%

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: ▲ 23.26%
• Current HPI: 299.8042
• Rent YoY: —
• Metro: —
• 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

+223.1% since first listed

5 events — show timeline

• 2026-05-01 Listed $210,000 Cincy MLS
• 2016-08-17 Sold (Public Records) $53,000 Public Records
• 2016-08-09 Sold (MLS) $53,000 Cincy MLS
• 2016-06-09 Contingent — Cincy MLS
• 2016-05-03 Listed $65,000 Cincy MLS

Property tax history

+7.9%/yr

Latest (2025): $1,431 · +11.0% YoY. Source: county tax records.