422 Clark St · Cincinnati, OH 45203

$975,000

4 bd · 3.0 ba · 6,600 sqft · MultiFamily public records · 38 Days on market

Built 1850 2,396 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• 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: 3 units. confirmed

Listing remarks MLS

Historic Gamble House (circa 1850) in the West End's vibrant Betts-Longworth District*Beautifully restored from top-to-bottom w/three updated 3-bedroom units renovated w/modern finishes throughout*Spacious layouts w/abundant natural light + generously sized rooms*Updated kitchens w/contemporary cabinetry & appliances*Refreshed baths w/newer vanities & fixtures*In-unit laundry*Private balconies*Turnkey investment and/or ideal owner-occupant opportunity w/strong rental potential in rapidly developing West End*Prime location steps to TQL Stadium, Washington Park, Downtown, OTR, dining & entertainment w/convenient access to major highways & employment centers*Rare opportunity to own a piece of Cincinnati history.

Key facts

• Private balconies
• Fully leased units
• In unit laundry

Tags

• HISTORIC GAMBLE HOUSE
• FULLY LEASED UNITS
• UPDATED KITCHENS
• IN UNIT LAUNDRY
• PRIVATE BALCONIES
• PRIME LOCATION

Property features AI

Finance

• Financial info: Property configured as a 3-unit income property; Unit rents recorded: $2,445; $2,000; $2,645; 3+ bedroom units rent shown as $2,645

Exterior

• Parking: On-street parking
• Security: Security system
• Utilities: Public water; Public sewer; Natural gas
• Home design: Triplex; Three-plus levels; Entry and layout across multiple stories
• Construction: Brick construction; Built-up roof; Stone foundation; Second floor area recorded (4,400)
• Exterior features: Balcony; Fire escape; Busline nearby

Interior

• Bedrooms: Three 3-bedroom units (each unit has 3 bedrooms)
• Bathrooms: Each unit: 2 full bathrooms and 1 partial bathroom
• Heating & cooling: Central air conditioning; Forced air heating (gas); Separate furnaces and separate A/C for units; Separate gas and electric meters
• Interior features: Security system; Intercom; Smoke alarm; Individual laundry; Full basement
• Laundry & utility: Individual laundry for units

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1-bath units multifamily listed at $975k.

Deal economics

• At list price, monthly cash flow is $6k ($73k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $975k).
• Recommended offer: $946k (3.0% below list) — sets the bar for market timing.

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: 13 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).

Forward outlook

• In year one you build about $28k of equity ($7k loan paydown + $21k appreciation (2.1% local appreciation)).
• At projected returns (2.1% appreciation + 3.0% rent growth), your $273k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$70k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($946k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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 $164k; list at $975k implies a 495% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $945,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 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: 1.59% ✓
• Cap rate: 13.77%
• Cash-on-cash: 26.69%
• DSCR: 2.19
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.15% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.1%
• Equity multiple: 2.69×
• Total profit: $460,976
• Equity at exit: $392,602

10-year hold

• IRR: 32.3%
• Equity multiple: 5.23×
• Total profit: $1,154,576
• Equity at exit: $571,591

Cash invested: $273,000 (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 45203

• Home prices YoY: 1.2%
• Active inventory: 13
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $15,508 high
• Mortgage (P&I): −$5,113
• Tax from tax record: −$661 /mo · $7,929/yr
• Insurance: −$406
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,257
• Net cashflow: $6,071

Break-even live

Break-even rent $7,823

Max offer price $975,000

Occupancy floor 56%

Sensitivity live

Price	-10% $6,623	-5% $6,347	+0% $6,071	+5% $5,795	+10% $5,519
Rent	-10% $4,846	-5% $5,459	+0% $6,071	+5% $6,684	+10% $7,296
Rate	-1.0pp $6,562	-0.5pp $6,319	base $6,071	+0.5pp $5,819	+1.0pp $5,562

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$15,507
Total (3 units)			$15,508

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: $243,750
• Closing costs: $29,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1059 Celestial St Cincinnati, OH	4.0	3.5	6778	$15,000	$2.21	26d	1	1.21mi

Listing history 23 events

1. 2026-06-21
   days on market $975,000 Active 38 DOM
2. 2026-06-18
   days on market $975,000 Active 35 DOM
3. 2026-06-17
   days on market $975,000 Active 34 DOM
4. 2026-06-16
   days on market $975,000 Active 33 DOM
5. 2026-06-15
   days on market $975,000 Active 32 DOM
6. 2026-06-13
   days on market $975,000 Active 30 DOM
7. 2026-06-13
   days on market $975,000 Active 29 DOM
8. 2026-06-09
   days on market $975,000 Active 26 DOM
9. 2026-06-08
   days on market $975,000 Active 25 DOM
10. 2026-06-07
    days on market $975,000 Active 24 DOM
11. 2026-06-03
    days on market $975,000 Active 20 DOM
12. 2026-06-02
    days on market $975,000 Active 19 DOM
13. 2026-06-01
    days on market $975,000 Active 18 DOM
14. 2026-05-31
    days on market $975,000 Active 17 DOM
15. 2026-05-14
    historical 734-char remark

    Show marketing remark (734 chars)

    Historic Gamble House (circa 1850) in the West End's vibrant Betts-Longworth District*Beautifully restored from top-to-bottom w/three updated 3-bedroom units renovated w/modern finishes throughout*Spacious layouts w/abundant natural light + generously sized rooms*Updated kitchens w/contemporary cabinetry & appliances*Refreshed baths w/newer vanities & fixtures*In-unit laundry*Private balconies*Turnkey investment and/or ideal owner-occupant opportunity w/strong rental potential in rapidly developing West End*Prime location steps to TQL Stadium, Washington Park, Downtown, OTR, dining & entertainment w/convenient access to major highways & employment centers*Rare opportunity to own a piece of Cincinnati history.

16. 2026-05-14
    listed $975,000 Active

    Show marketing remark (734 chars)

    Historic Gamble House (circa 1850) in the West End's vibrant Betts-Longworth District*Beautifully restored from top-to-bottom w/three updated 3-bedroom units renovated w/modern finishes throughout*Spacious layouts w/abundant natural light + generously sized rooms*Updated kitchens w/contemporary cabinetry & appliances*Refreshed baths w/newer vanities & fixtures*In-unit laundry*Private balconies*Turnkey investment and/or ideal owner-occupant opportunity w/strong rental potential in rapidly developing West End*Prime location steps to TQL Stadium, Washington Park, Downtown, OTR, dining & entertainment w/convenient access to major highways & employment centers*Rare opportunity to own a piece of Cincinnati history.

17. 2026-03-19
    price $995,000 734-char remark

    Show marketing remark (734 chars)

    Historic Gamble House (circa 1850) in the West End's vibrant Betts-Longworth District*Beautifully restored from top-to-bottom w/three updated 3-bedroom units renovated w/modern finishes throughout*Spacious layouts w/abundant natural light + generously sized rooms*Updated kitchens w/contemporary cabinetry & appliances*Refreshed baths w/newer vanities & fixtures*In-unit laundry*Private balconies*Turnkey investment and/or ideal owner-occupant opportunity w/strong rental potential in rapidly developing West End*Prime location steps to TQL Stadium, Washington Park, Downtown, OTR, dining & entertainment w/convenient access to major highways & employment centers*Rare opportunity to own a piece of Cincinnati history.

18. 2026-02-12
    listed $1,095,000 Active 734-char remark

    Show marketing remark (734 chars)

    Historic Gamble House (circa 1850) in the West End's vibrant Betts-Longworth District*Beautifully restored from top-to-bottom w/three updated 3-bedroom units renovated w/modern finishes throughout*Spacious layouts w/abundant natural light + generously sized rooms*Updated kitchens w/contemporary cabinetry & appliances*Refreshed baths w/newer vanities & fixtures*In-unit laundry*Private balconies*Turnkey investment and/or ideal owner-occupant opportunity w/strong rental potential in rapidly developing West End*Prime location steps to TQL Stadium, Washington Park, Downtown, OTR, dining & entertainment w/convenient access to major highways & employment centers*Rare opportunity to own a piece of Cincinnati history.

19. 2024-12-17
    historical $2,299
20. 2024-11-27
    listed $2,299
21. 2024-11-17
    historical $2,299
22. 2024-11-08
    listed $2,299
23. 1995-06-21
    soldstatus $164,000

ⓘ 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: $7,929 · $661/mo
• Projected year-2 tax: $11,570 · $964/mo
• Expected delta: +$3,640/yr (+$303/mo · 45.9%)

ⓘ 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 · 20 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: $186,096
• − Mortgage interest: −$54,615
• − Property taxes: −$7,929
• − Insurance: −$4,875
• − Repairs & maintenance: −$14,888
• − Management: −$14,888
• − Depreciation: −$28,364
• Taxable income: $60,538
• Est. tax owed @ 24.0%: −$14,529
• After-tax cash flow: $58,327/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 · 838,887 people
• City population: 505,555
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 2,530
• Household income: $33,798
• Rent vs Own: 67.2% rent · 32.8% own
• Severe rent burden: 5.2

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 54% White 33% Asian 7% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: English 1% Serbian 1% Slovak 1%
• Foreign-born: 7% · South Korea, China, Canada
• Languages at home: 87% English-only · Korean 5% Russian/Polish/Slavic 5% Chinese 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: ▲ 2.15%
• Current HPI: 185.8445
• 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

+494.5% since first listed

9 events — show timeline

• 2026-05-14 Listed $975,000 Cincy MLS
• 2026-05-14 Listing Removed — Cincy MLS
• 2026-03-19 Price Changed $995,000 Cincy MLS
• 2026-02-12 Listed $1,095,000 Cincy MLS
• 2024-12-17 Rental Removed $2,299 RENTALBEAST
• 2024-11-27 Listed for Rent $2,299 RENTALBEAST
• 2024-11-17 Rental Removed $2,299 RENTALBEAST
• 2024-11-08 Listed for Rent $2,299 RENTALBEAST
• 1995-06-21 Sold (Public Records) $164,000 Public Records

Property tax history

+10.2%/yr

Latest (2025): $7,929 · +0.1% YoY. Source: county tax records.