2956 Henshaw Ave · Cincinnati, OH 45225

$235,000

3 bd · 1.0 ba · 1,064 sqft · SingleFamily public records · 49 Days on market

Built 1924 3,180 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).

• Appreciation +10.0/10.0
• Cash flow +8.9/30.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0

Listing remarks

Total rehab. Charming house with private fenced in yard. Ready to move in!

Key facts

• 3,180 sq ft lot
• Built 1924
• Listed 49 days

Property features AI

Finance

• Other: Residential zoning
• HOA & community: No homeowners association

Exterior

• Parking: On-street parking
• Security: Insulated vinyl windows
• Utilities: Public water; Public sewer; Natural gas
• Home design: Traditional single-family home; Two levels; Block foundation; Vinyl siding; Shingle roof; Less than 0.5 acre lot (approx. 33 x 100)
• Construction: Vinyl siding construction; Block foundation; Shingle roof
• Exterior features: Deck; Porch; Wood fence

Interior

• Kitchen: Wood cabinets; Laminate floors; Microwave, Oven/Range, Refrigerator
• Bedrooms: Three bedrooms (all on the second floor); primary approx. 12 x 11, second bedroom approx. 12 x 11, third bedroom approx. 10 x 8
• Flooring: Laminate flooring in living room, dining room, and kitchen
• Bathrooms: One full bathroom (on second floor); One partial bathroom (in lower level)
• Heating & cooling: Forced air gas heating; Central air conditioning; Gas water heater; Programmable thermostat
• Interior features: Multi-panel doors; Walkout from kitchen; Basement is unfinished with concrete floor and glass block windows; One gas fireplace with ceramic surround
• Laundry & utility: 220 volt electrical service

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $-189 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $202k (14.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (32.8% below list).
• Recommended offer: $158k (32.8% below list) — sets the bar for 1% rule.
• Cap rate 5.3% 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: 32 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $1,580/mo this rent would consume 93% of the median local household income ($20k/yr) (locally 1466% 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 $25k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($228k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $158,035 (32.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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.
9. 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.
10. 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: 0.67% ✗
• Cap rate: 5.33%
• Cash-on-cash: -3.45%
• DSCR: 0.85
• GRM: 12.4

CMA / ARV

• ARV (on-the-fly): $126,616
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2946 W Mcmicken Ave	0.28mi	2/1.0 (-1)	1,043 (-2%)	5mo	$110,000	$105	75
1623 Sutter Ave	0.72mi	3/2.0	1,097 (+3%)	6mo	$39,900	$36	52
1346 Ethan Ave	0.37mi	2/2.0 (-1)	1,200 (+13%)	4mo	$212,000	$177	49
2911 Maisel Dr	0.38mi	4/2.0 (+1)	912 (-14%)	3mo	$124,410	$136	47
642 Clemmer Ave	0.67mi	2/1.0 (-1)	1,137 (+7%)	12mo	$285,000	$251	42
2622 Halstead St	0.54mi	2/1.5 (-1)	1,120 (+5%)	22mo	$164,900	$147	40
1613 Pulte St	0.67mi	2/2.0 (-1)	1,200 (+13%)	3mo	$43,000	$36	36
1533 Grove St	0.70mi	2/1.0 (-1)	1,008 (-5%)	23mo	$80,000	$79	34
1531 Grove St	0.69mi	3/2.0	1,192 (+12%)	19mo	$142,000	$119	28

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.8%
• Equity multiple: 2.76×
• Total profit: $115,840
• Equity at exit: $211,707

10-year hold

• IRR: 19.6%
• Equity multiple: 6.33×
• Total profit: $350,432
• Equity at exit: $456,553

Cash invested: $65,800 (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 45225

• Home prices YoY: 4.6%
• Active inventory: 32
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $1,580 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$107 /mo · $1,290/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $-189

Break-even live

Break-even rent $1,820

Max offer price $201,561

Occupancy floor —

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1042 Marshall Ave Apt 3 Cincinnati, OH	3.0	1.0	1400	$1,195	$0.85	24d	1	0.34mi
1048 Marshall Ave Unit 5 Cincinnati, OH	2.0	1.0	888	$965	$1.09	24d	1	0.34mi
717 Martin Luther King Dr W Cincinnati, OH	2.0	1.0–2.0	767	$1,875	$2.44	2d	56	0.35mi
521 Martin Luther King Dr W Apt A6 Cincinnati, OH	2.0	1.5	925	$1,495	$1.62	3d	1	0.60mi
521 Martin Luther King Dr W Unit A15 Cincinnati, OH	2.0	2.0	935	$2,000	$2.14	24d	1	0.61mi
539 Lowell Ave Unit 539-07 Cincinnati, OH	2.0	1.0	800	$1,095	$1.37	4d	1	0.62mi
2556 Beekman St Unit 301 Cincinnati, OH	2.0	1.0	1000	$950	$0.95	24d	1	0.62mi
525 Lowell Ave Unit 525-05 Cincinnati, OH	2.0	1.0	880	$1,295	$1.47	17d	1	0.65mi
525 Lowell Ave Unit 525-07 Cincinnati, OH	2.0	1.0	880	$1,295	$1.47	2d	1	0.65mi
3240 Whitfield Ave Cincinnati, OH	1.0–2.0	1.0–2.0	865	$2,225	$2.57	2d	80	0.70mi
2805 Stratford Ave Unit 2 Cincinnati, OH	2.0	1.0	850	$1,450	$1.71	4d	1	0.78mi
1 Foxhall Ct Unit 1 Cincinnati, OH	2.0	2.5	1500	$2,200	$1.47	24d	1	0.80mi
421 Southview Ave Unit 2 Cincinnati, OH	3.0	1.0	1350	$1,800	$1.33	24d	1	0.83mi
3015 Clifton Ave Unit 3015-02 Cincinnati, OH	2.0	1.0	1050	$995	$0.95	24d	1	0.84mi
3404 Whitfield Ave Cincinnati, OH	2.0	1.0	1291	$1,595	$1.23	4d	55	0.85mi
359 Ludlow Ave Cincinnati, OH	2.0	1.0	1400	$1,350	$0.96	24d	1	0.88mi
348 Volkert Ave Cincinnati, OH	4.0	2.5	1400	$2,800	$2.00	24d	1	0.90mi
358 Shiloh St Cincinnati, OH	1.0–3.0	1.0	1400	$2,100	$1.50	2d	1	0.94mi
332 Ludlow Ave Cincinnati, OH	2.0	1.0	579	$1,095	$1.89	4d	10	0.95mi
265 W McMillan St Unit 1 Cincinnati, OH	2.0	1.0	950	$1,350	$1.42	20d	1	0.97mi
445 W McMicken Ave Cincinnati, OH	3.0	1.0	1090	$1,350	$1.24	24d	1	1.17mi
3227 Bishop St Unit 3227-02 Cincinnati, OH	2.0	2.0	718	$1,495	$2.08	4d	1	1.18mi
3227 Bishop St Unit 3227-06 Cincinnati, OH	2.0	2.0	718	$1,595	$2.22	24d	1	1.18mi
3141 Bishop St Unit 3 Cincinnati, OH	2.0	1.0	900	$1,100	$1.22	24d	1	1.19mi
3141 Bishop St Unit 1 Cincinnati, OH	3.0	1.0	1500	$2,100	$1.40	24d	1	1.19mi
3263 Bishop St Cincinnati, OH	3.0	2.0	1465	$2,395	$1.63	24d	1	1.20mi
2333 W Clifton Ave Cincinnati, OH	2.0	1.0	1000	$1,200	$1.20	24d	1	1.20mi
231 Emming St Unit 2 Cincinnati, OH	3.0	1.0	1200	$1,800	$1.50	24d	1	1.25mi
3227 Jefferson Ave Unit 3227-01 Cincinnati, OH	2.0	1.0	890	$1,345	$1.51	24d	1	1.26mi
1925 Colerain Ave Unit 1056034P Cincinnati, OH	2.0	1.0	1453	$2,790	$1.92	12d	1	1.29mi
3429 Ruther Ave Unit 1 Cincinnati, OH	2.0	1.0	1200	$1,500	$1.25	4d	1	1.34mi
812 Dayton St Unit 1056021P Cincinnati, OH	3.0	1.0	1453	$2,995	$2.06	2d	1	1.36mi
2809 Glendora Ave Cincinnati, OH	2.0	1.0	1100	$1,500	$1.36	3d	1	1.42mi
414 Dayton St Cincinnati, OH	3.0	2.5	1176	$2,400	$2.04	24d	1	1.43mi
207 W McMicken Ave Unit 3 Cincinnati, OH	2.0	1.0	990	$1,400	$1.41	24d	1	1.48mi
2504 White St Apt 5 Cincinnati, OH	3.0	2.0	1150	$1,150	$1.00	24d	1	1.50mi

Listing history 15 events

1. 2026-06-18
   days on market $235,000 Active 49 DOM
2. 2026-06-17
   days on market $235,000 Active 48 DOM
3. 2026-06-16
   days on market $235,000 Active 47 DOM
4. 2026-06-15
   days on market $235,000 Active 46 DOM
5. 2026-06-13
   days on market $235,000 Active 44 DOM
6. 2026-06-13
   days on market $235,000 Active 43 DOM
7. 2026-06-09
   days on market $235,000 Active 40 DOM
8. 2026-06-08
   days on market $235,000 Active 39 DOM
9. 2026-06-07
   days on market $235,000 Active 38 DOM
10. 2026-06-03
    days on market $235,000 Active 34 DOM
11. 2026-06-02
    days on market $235,000 Active 33 DOM
12. 2026-06-02
    price $235,000 Active 32 DOM
13. 2026-06-01
    days on market $245,000 Active 32 DOM
14. 2026-05-31
    days on market $245,000 Active 31 DOM
15. 2026-05-01
    listed $245,000 Active

ⓘ 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: $1,290 · $107/mo
• Projected year-2 tax: $2,478 · $206/mo
• Expected delta: +$1,188/yr (+$99/mo · 92.1%)

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

Taxation est. · year 1

• Rental income: $18,964
• − Mortgage interest: −$13,164
• − Property taxes: −$1,290
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,517
• − Management: −$1,517
• − Depreciation: −$6,836
• Taxable loss: −$6,535
• Est. tax savings @ 24.0%: +$1,568
• After-tax cash flow: $-703/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): 9,583
• Household income: $20,348
• Rent vs Own: 87.2% rent · 12.8% own
• Severe rent burden: 1466.0

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: Predominantly Black (72%)
• Race & ethnicity: Black 72% White 17% Two or more races 7% Hispanic / Latino 5%
• Common ancestry: Slovak 1% Romanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 2%

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: ▲ 10.21%
• Current HPI: 232.7908
• 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

1 event — show timeline

• 2026-05-01 Listed $245,000 Cincy MLS

Property tax history

+6.6%/yr

Latest (2025): $1,290 · +0.1% YoY. Source: county tax records.