2128 Ravine St · Cincinnati, OH 45214

$215,000

3 bd · 1.0 ba · 1,320 sqft · SingleFamily public records · 117 Days on market

Built 1875 4,879 sqft lot Est $246k · 12% under

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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 +19.8/30.0
• ARV discount +13.1/15.0
• Appreciation +10.0/10.0
• DSCR +6.3/10.0
• 1% rule +4.6/10.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Incredible investment and/or development opportunity in a prime location minutes from OTR, UC, and Findlay Market! This unique offering includes 3 city lots, with 2 single-family homes and one vacant residential lots, all adjacent for your convenience. Currently, one of the homes is occupied by a month-to-month tenant. The vacant property is filled with items needs updating, presenting a significant renovation or redevelopment opportunity. Plus, owner-financing options are available to help bring your vision to life! Perfect for a student housing development or apartments or condos.

Key facts

• Value-add potential
• Equity growth
• Off-street parking

Tags

• OFF-STREET PARKING
• STRONG RENTAL POTENTIAL
• VALUE-ADD POTENTIAL
• SOLID CANVAS FOR RENOVATION
• EQUITY GROWTH
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Less than 0.5 acre lot (approx. 0.112 acres / 4,879 sq ft)
• HOA & community: No HOA

Exterior

• Parking: Off-street and on-street parking
• Utilities: Public water; Public sewer; Natural gas
• Home design: Traditional single-family home; Two levels; Residential zoning; Cable available
• Construction: Stone construction; Stone foundation; Built with stone materials
• Exterior features: Vinyl windows; Shingle roof

Interior

• Kitchen: Window treatments; Wood cabinets
• Bedrooms: 3 bedrooms; Primary bedroom approx. 13 x 14 (second level); Second bedroom approx. 13 x 14 (second level); Third bedroom approx. 14 x 20 (second level)
• Bathrooms: 1 full bathroom (tub, located on second level)
• Heating & cooling: Forced air heating; Window cooling unit; Gas water heating
• Interior features: 6 total rooms; Partial unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $198 ($2k/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 $207k (3.8% below list).
• Recommended offer: $196k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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; 40 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 $2,068/mo this rent would consume 89% 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 $23k of equity ($1k loan paydown + $22k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $60k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $215k implies a 975% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1875 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $195,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1875 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 0.96% ✗
• Cap rate: 7.71%
• Cash-on-cash: 5.06%
• DSCR: 1.23
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $245,520
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
336 Warner St	0.21mi	3/1.0	1,343 (+2%)	1mo	$250,000	$186	87
450 Lloyd Pl	0.22mi	3/2.0	1,307 (-1%)	4mo	$309,000	$236	81
343 Ada St	0.28mi	2/1.5 (-1)	1,310 (-1%)	7mo	$246,000	$188	73
318 W Mcmicken Ave	0.09mi	3/1.0	1,504 (+14%)	5mo	$57,500	$38	69
461 Fairview Pl	0.21mi	2/1.0 (-1)	1,450 (+10%)	5mo	$180,000	$124	64
2402 W Clifton Ave	0.43mi	3/2.0	1,378 (+4%)	5mo	$310,000	$225	64
2724 Wagner St	0.60mi	3/2.0	1,344 (+2%)	7mo	$199,900	$149	59
2528 Valley View Ct	0.51mi	3/2.0	1,400 (+6%)	5mo	$260,000	$186	58
426 Southview Ave	0.36mi	3/1.5	1,474 (+12%)	6mo	$240,000	$163	56
37 E Clifton Ave	0.60mi	3/1.0	1,200 (-9%)	4mo	$84,500	$70	54
596 De Votie Ave	0.72mi	2/2.0 (-1)	1,368 (+4%)	6mo	$130,000	$95	46
2735 Wagner St	0.63mi	4/2.0 (+1)	1,500 (+14%)	5mo	$285,000	$190	35

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: 29.0%
• Equity multiple: 3.34×
• Total profit: $140,655
• Equity at exit: $193,689

10-year hold

• IRR: 26.7%
• Equity multiple: 8.17×
• Total profit: $431,343
• Equity at exit: $417,698

Cash invested: $60,200 (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: 8.7×

Monthly cashflow live

• Estimated rent: $2,068 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$163 /mo · $1,951/yr
• Insurance: −$90
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $198

Break-even live

Break-even rent $1,817

Max offer price $215,000

Occupancy floor 85%

Sensitivity live

Price	-10% $320	-5% $259	+0% $198	+5% $137	+10% $77
Rent	-10% $35	-5% $117	+0% $198	+5% $280	+10% $362
Rate	-1.0pp $307	-0.5pp $253	base $198	+0.5pp $143	+1.0pp $86

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
445 W McMicken Ave Cincinnati, OH	3.0	1.0	1090	$1,350	$1.24	24d	1	0.09mi
2231 Flora St Cincinnati, OH	4.0	2.0	1728	$1,500	$0.87	24d	1	0.14mi
231 Emming St Unit 2 Cincinnati, OH	3.0	1.0	1200	$1,800	$1.50	24d	1	0.24mi
812 Dayton St Unit 1056021P Cincinnati, OH	3.0	1.0	1453	$2,995	$2.06	2d	1	0.25mi
414 Dayton St Cincinnati, OH	3.0	2.5	1176	$2,400	$2.04	24d	1	0.26mi
217 Emming St Unit 1 Cincinnati, OH	4.0	2.0	1510	$1,800	$1.19	24d	1	0.26mi
207 W McMicken Ave Unit 3 Cincinnati, OH	2.0	1.0	990	$1,400	$1.41	24d	1	0.33mi
421 Southview Ave Unit 2 Cincinnati, OH	3.0	1.0	1350	$1,800	$1.33	24d	1	0.35mi
348 Volkert Ave Cincinnati, OH	4.0	2.5	1400	$2,800	$2.00	24d	1	0.36mi
1 Foxhall Ct Unit 1 Cincinnati, OH	2.0	2.5	1500	$2,200	$1.47	24d	1	0.36mi
2333 W Clifton Ave Cincinnati, OH	2.0	1.0	1000	$1,200	$1.20	24d	1	0.38mi
107 E Clifton Ave Unit 1234537P Cincinnati, OH	2.0–3.0	1.0–2.0	2260	$6,619	$2.93	15d	2	0.45mi
1925 Colerain Ave Unit 1056034P Cincinnati, OH	2.0	1.0	1453	$2,790	$1.92	13d	1	0.45mi
265 W McMillan St Unit 1 Cincinnati, OH	2.0	1.0	950	$1,350	$1.42	21d	1	0.45mi
2386 Wheeler St Cincinnati, OH	4.0	1.0	1740	$2,700	$1.55	24d	1	0.49mi
2388 Wheeler St Cincinnati, OH	4.0	2.0	1740	$2,700	$1.55	24d	1	0.49mi
2521 Ravine St Cincinnati, OH	3.0	3.5	1528	$2,995	$1.96	24d	1	0.50mi
1826 Republic St Unit 1056093P Cincinnati, OH	2.0	1.0	1614	$2,812	$1.74	15d	1	0.60mi
111 W Elder St Unit 1056044P Cincinnati, OH	1.0–4.0	1.0–4.0	1835	$5,561	$3.03	11d	2	0.62mi
2704 W McMicken Ave Unit 2 Cincinnati, OH	3.0	1.0	1760	$1,500	$0.85	24d	1	0.63mi
55 E Clifton Ave Unit B Cincinnati, OH	2.0	2.0	1395	$2,500	$1.79	24d	1	0.64mi
1617 Elm St Cincinnati, OH	3.0	1.0–2.0	1028	$4,819	$4.69	2d	44	0.69mi
105 Peete St Cincinnati, OH	2.0	1.0	983	$1,325	$1.35	4d	1	0.70mi
1508 Pleasant St Unit 1495913P Cincinnati, OH	1.0–3.0	1.0–2.0	1431	$8,294	$5.80	2d	2	0.82mi
1042 Marshall Ave Apt 3 Cincinnati, OH	3.0	1.0	1400	$1,195	$0.85	24d	1	0.83mi
1048 Marshall Ave Unit 5 Cincinnati, OH	2.0	1.0	888	$965	$1.09	24d	1	0.83mi
1510 Race St Unit 1056158P Cincinnati, OH	2.0	1.0	1076	$4,248	$3.95	24d	1	0.84mi
1507 Race St Unit 1056026P Cincinnati, OH	2.0	1.0	1453	$3,630	$2.50	15d	1	0.85mi
1423 Pleasant St Unit 1056037P Cincinnati, OH	2.0	1.0	1560	$3,411	$2.19	2d	1	0.87mi
1777 Sycamore St Unit 5 Cincinnati, OH	2.0	1.0	964	$1,530	$1.59	24d	1	0.89mi
118 E Liberty St Apt B Cincinnati, OH	2.0	1.0	1100	$1,525	$1.39	5d	1	0.92mi
118 E Liberty St Apt D Cincinnati, OH	2.0	1.5	1100	$1,525	$1.39	5d	1	0.92mi
1407 Vine St Unit 1056101P Cincinnati, OH	2.0	1.0	1076	$3,361	$3.12	2d	1	0.95mi
216 Gilman Ave Unit 1363975P Cincinnati, OH	3.0	1.0	1776	$3,474	$1.96	3d	1	0.99mi
3015 Clifton Ave Unit 3015-02 Cincinnati, OH	2.0	1.0	1050	$995	$0.95	24d	1	1.01mi
1610 Sycamore St Cincinnati, OH	2.0	2.0	1600	$1,900	$1.19	11d	1	1.03mi
236 Gilman Ave Cincinnati, OH	3.0	2.5	1699	$2,200	$1.29	13d	1	1.03mi
131 E 14th St Apt 303 Cincinnati, OH	2.0	1.0	1200	$1,300	$1.08	17d	1	1.03mi
240 Mcgregor Ave Unit 1 Cincinnati, OH	2.0	2.0	1200	$2,795	$2.33	24d	1	1.06mi
240 Mcgregor Ave Unit 2 Cincinnati, OH	2.0	2.0	1100	$2,495	$2.27	24d	1	1.06mi

Listing history 7 events

1. 2026-04-23
   price $215,000
2. 2026-03-17
   price $225,000
3. 2026-02-02
   listed $235,000 Active
4. 2025-08-24
   historical 608-char remark

   Show marketing remark (608 chars)

   Incredible investment and/or development opportunity in a prime location minutes from OTR, UC, and Findlay Market! This unique offering includes 3 city lots, with 2 single-family homes and one vacant residential lots, all adjacent for your convenience. Currently, one of the homes is occupied by a month-to-month tenant. The vacant property is filled with items needs updating, presenting a significant renovation or redevelopment opportunity. Plus, owner-financing options are available to help bring your vision to life! Perfect for a student housing development or apartments or condos.

5. 2025-03-12
   price $470,000 608-char remark

   Show marketing remark (608 chars)

   Incredible investment and/or development opportunity in a prime location minutes from OTR, UC, and Findlay Market! This unique offering includes 3 city lots, with 2 single-family homes and one vacant residential lots, all adjacent for your convenience. Currently, one of the homes is occupied by a month-to-month tenant. The vacant property is filled with items needs updating, presenting a significant renovation or redevelopment opportunity. Plus, owner-financing options are available to help bring your vision to life! Perfect for a student housing development or apartments or condos.

6. 2025-02-24
   listed $495,000 Active 608-char remark

   Show marketing remark (608 chars)

   Incredible investment and/or development opportunity in a prime location minutes from OTR, UC, and Findlay Market! This unique offering includes 3 city lots, with 2 single-family homes and one vacant residential lots, all adjacent for your convenience. Currently, one of the homes is occupied by a month-to-month tenant. The vacant property is filled with items needs updating, presenting a significant renovation or redevelopment opportunity. Plus, owner-financing options are available to help bring your vision to life! Perfect for a student housing development or apartments or condos.

7. 1986-12-15
   soldstatus $20,000

ⓘ 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: $1,951 · $163/mo
• Projected year-2 tax: $2,653 · $221/mo
• Expected delta: +$701/yr (+$58/mo · 36.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,813
• − Mortgage interest: −$12,043
• − Property taxes: −$1,951
• − Insurance: −$1,742
• − Repairs & maintenance: −$1,985
• − Management: −$1,985
• − Depreciation: −$6,255
• Taxable loss: −$1,147
• Est. tax savings @ 24.0%: +$275
• After-tax cash flow: $2,655/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

+975.0% since first listed

7 events — show timeline

• 2026-04-23 Price Changed $215,000 Cincy MLS
• 2026-03-17 Price Changed $225,000 Cincy MLS
• 2026-02-02 Listed $235,000 Cincy MLS
• 2025-08-24 Listing Removed — Cincy MLS
• 2025-03-12 Price Changed $470,000 Cincy MLS
• 2025-02-24 Listed $495,000 Cincy MLS
• 1986-12-15 Sold (Public Records) $20,000 Public Records

Property tax history

+8.5%/yr

Latest (2025): $1,951 · +0.1% YoY. Source: county tax records.