567 Stewart Pl · Cincinnati, OH 45229

$223,000

5 bd · 3.0 ba · 2,394 sqft · MultiFamily public records · 168 Days on market

Built 1916 Est $251k · 11% 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 +30.0/30.0
• ARV discount +12.6/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.9/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Triplex that is income ready for your TLC. On and off street parking. Long term leases, centrally located,5 mile radius from 2 colleges, highway close, Saturday Only Showings.All Unit occupied.

Key facts

• Highway close
• Long term leases
• Centrally located

Tags

• INCOME READY
• ON AND OFF STREET PARKING
• LONG TERM LEASES
• CENTRALLY LOCATED
• HIGHWAY CLOSE

Property features AI

Finance

• Other: Zoning: Residential
• Financial info: Unit rents noted: 1-bedroom rent listed at $700 (market listing shows Unit 1 rent $1,200), 2-bedroom rent listed at $1,100 (market listings show Unit 2 $1,500 and Unit 3 $700); Total buildings: 1

Exterior

• Parking: On-street parking; Driveway parking (2 open spaces)
• Utilities: Public water; Public sewer; Natural gas; Separate gas/electric meters (yes); Water paid by owner; heat paid by tenants
• Home design: Triplex; Two levels
• Construction: Brick construction; Shingle roof; Poured foundation
• Exterior features: Double-hung windows; Other window types

Interior

• Bedrooms: Unit 1: 1 bedroom; Unit 2: 2 bedrooms; Unit 3: 2 bedrooms; Total units: 3 (one 1-bedroom unit, two 2-bedroom units)
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Heat pump heating; Window air conditioning units
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.5-bath units multifamily listed at $223k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $594/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $223k).
• Recommended offer: $196k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.9% 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 (+5.5%/yr); 49 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $4,247/mo this rent would consume 158% of the median local household income ($32k/yr) (locally 1730% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $62k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 168 days — a 12% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y 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.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $196,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 168 days. Have you received any prior offers? Is the seller open to a 12% 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 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.90% ✓
• Cap rate: 15.88%
• Cash-on-cash: 34.22%
• DSCR: 2.52
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $251,370
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
844 Windham Ave	0.42mi	5/2.5	2,487 (+4%)	7mo	$241,000	$97	66
3016 Euclid Ave	0.72mi	4/2.0 (-1)	2,567 (+7%)	12mo	$418,500	$163	36
848 Windham Ave	0.43mi	5/3.0	2,752 (+15%)	24mo	$289,000	$105	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.55% rent growth · sell at horizon

5-year hold

• IRR: 32.5%
• Equity multiple: 2.42×
• Total profit: $88,541
• Equity at exit: $33,250

10-year hold

• IRR: 41.0%
• Equity multiple: 5.35×
• Total profit: $271,800
• Equity at exit: $19,281

Cash invested: $62,440 (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 45229

• Home prices YoY: -24.0%
• Rents YoY: 5.5%
• Active inventory: 49
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $4,247 high
• Mortgage (P&I): −$1,169
• Tax from tax record: −$312 /mo · $3,744/yr
• Insurance: −$93
• HOA: −$0
• Vacancy / Maint / Mgmt: −$892
• Net cashflow: $1,781

Break-even live

Break-even rent $1,993

Max offer price $223,000

Occupancy floor 53%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.5	$4,248
Total (3 units)			$4,247

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: $55,750
• Closing costs: $6,690
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
870 Rockdale Ave Cincinnati, OH	4.0	2.0	1749	$1,800	$1.03	23d	1	0.57mi
3028 Gilbert Ave Cincinnati, OH	5.0	1.5	1936	$1,700	$0.88	20d	1	0.59mi
241 E University Ave Cincinnati, OH	5.0	2.0	1836	$4,000	$2.18	23d	1	0.65mi
2813 Gerard St Unit 1540075P Cincinnati, OH	4.0	3.0	2152	$6,281	$2.92	20d	1	0.75mi
1524 Ruth Ave Unit 2 Cincinnati, OH	4.0	1.0	1971	$1,595	$0.81	23d	1	0.91mi
2800 Jefferson Ave Cincinnati, OH	4.0	2.0	2500	$625	$0.25	20d	1	0.98mi
3113 Harvard Ave Cincinnati, OH	4.0	3.0	1895	$2,700	$1.42	14d	1	0.98mi
1718 Dexter Ave Cincinnati, OH	4.0	2.0	2539	$2,100	$0.83	23d	1	1.20mi
7 W Hollister St Cincinnati, OH	5.0	2.0	1585	$2,750	$1.74	14d	1	1.31mi
223 Woolper Ave Cincinnati, OH	6.0	3.0	3000	$3,500	$1.17	12d	1	1.35mi
2105 Burnet Ave Unit 1056017P Cincinnati, OH	4.0	2.0	2960	$7,384	$2.49	1d	1	1.42mi

Listing history 32 events

1. 2026-06-18
   days on market $223,000 Active 168 DOM
2. 2026-06-17
   days on market $223,000 Active 167 DOM
3. 2026-06-16
   days on market $223,000 Active 166 DOM
4. 2026-06-15
   days on market $223,000 Active 165 DOM
5. 2026-06-13
   days on market $223,000 Active 163 DOM
6. 2026-06-13
   days on market $223,000 Active 162 DOM
7. 2026-06-09
   days on market $223,000 Active 159 DOM
8. 2026-06-08
   days on market $223,000 Active 158 DOM
9. 2026-06-07
   days on market $223,000 Active 157 DOM
10. 2026-06-03
    days on market $223,000 Active 153 DOM
11. 2026-06-02
    days on market $223,000 Active 152 DOM
12. 2026-06-01
    days on market $223,000 Active 151 DOM
13. 2026-05-31
    days on market $223,000 Active 150 DOM
14. 2026-03-25
    price $223,000
15. 2025-12-31
    listed $229,000 Active
16. 2025-12-28
    historical 195-char remark

    Show marketing remark (195 chars)

    Triplex that is income ready for your TLC. On and off street parking. Long term leases, centrally located,5 mile radius from 2 colleges, highway close, Saturday Only Showings.All Unit occupied.

17. 2025-12-11
    price $230,000 195-char remark

    Show marketing remark (195 chars)

    Triplex that is income ready for your TLC. On and off street parking. Long term leases, centrally located,5 mile radius from 2 colleges, highway close, Saturday Only Showings.All Unit occupied.

18. 2025-11-24
    price $231,000 195-char remark

    Show marketing remark (195 chars)

    Triplex that is income ready for your TLC. On and off street parking. Long term leases, centrally located,5 mile radius from 2 colleges, highway close, Saturday Only Showings.All Unit occupied.

19. 2025-11-14
    status Active 195-char remark

    Show marketing remark (195 chars)

    Triplex that is income ready for your TLC. On and off street parking. Long term leases, centrally located,5 mile radius from 2 colleges, highway close, Saturday Only Showings.All Unit occupied.

20. 2025-11-14
    price $239,900 195-char remark

    Show marketing remark (195 chars)

    Triplex that is income ready for your TLC. On and off street parking. Long term leases, centrally located,5 mile radius from 2 colleges, highway close, Saturday Only Showings.All Unit occupied.

21. 2025-11-02
    historical 195-char remark

    Show marketing remark (195 chars)

    Triplex that is income ready for your TLC. On and off street parking. Long term leases, centrally located,5 mile radius from 2 colleges, highway close, Saturday Only Showings.All Unit occupied.

22. 2025-09-17
    status Active 195-char remark

    Show marketing remark (195 chars)

    Triplex that is income ready for your TLC. On and off street parking. Long term leases, centrally located,5 mile radius from 2 colleges, highway close, Saturday Only Showings.All Unit occupied.

23. 2025-09-07
    historical Contingency Pending 195-char remark

    Show marketing remark (195 chars)

    Triplex that is income ready for your TLC. On and off street parking. Long term leases, centrally located,5 mile radius from 2 colleges, highway close, Saturday Only Showings.All Unit occupied.

24. 2025-08-28
    listed $240,000 Active 195-char remark

    Show marketing remark (195 chars)

    Triplex that is income ready for your TLC. On and off street parking. Long term leases, centrally located,5 mile radius from 2 colleges, highway close, Saturday Only Showings.All Unit occupied.

25. 2024-12-10
    soldstatus $272,000
26. 2023-09-05
    historical 226-char remark

    Show marketing remark (226 chars)

    Bidding ends August 10th at 1:00pm ET. Great 3 family home. Two out of the three units are rented at $900/month and one unit is vacant. Reserve is at the list price. Sold 100% As-IS. 10% Buyer Premium is added to the high bid.

27. 2023-07-27
    price $199,000 226-char remark

    Show marketing remark (226 chars)

    Bidding ends August 10th at 1:00pm ET. Great 3 family home. Two out of the three units are rented at $900/month and one unit is vacant. Reserve is at the list price. Sold 100% As-IS. 10% Buyer Premium is added to the high bid.

28. 2023-07-05
    listed $150,000 Active 226-char remark

    Show marketing remark (226 chars)

    Bidding ends August 10th at 1:00pm ET. Great 3 family home. Two out of the three units are rented at $900/month and one unit is vacant. Reserve is at the list price. Sold 100% As-IS. 10% Buyer Premium is added to the high bid.

29. 2022-01-28
    soldstatus $168,000
30. 2014-05-30
    soldstatus $24,000
31. 2014-03-11
    listed $29,900
32. 2003-07-24
    soldstatus $80,000

ⓘ 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: $3,744 · $312/mo
• Projected year-2 tax: $3,744 · $312/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 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: $50,964
• − Mortgage interest: −$12,491
• − Property taxes: −$3,744
• − Insurance: −$1,115
• − Repairs & maintenance: −$4,077
• − Management: −$4,077
• − Depreciation: −$6,487
• Taxable income: $18,972
• Est. tax owed @ 24.0%: −$4,553
• After-tax cash flow: $16,816/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): 13,529
• Household income: $32,263
• Rent vs Own: 69.4% rent · 30.6% own
• Severe rent burden: 1730.0

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 (65%)
• Race & ethnicity: Black 65% White 24% Two or more races 5% Hispanic / Latino 4% Asian 1%
• Common ancestry: Italian 2% Iranian 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 4% Russian/Polish/Slavic 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: ▼ -80.34%
• Current HPI: 254.492
• Rent YoY: ▲ 5.55%
• 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

+178.8% since first listed

19 events — show timeline

• 2026-03-25 Price Changed $223,000 Cincy MLS
• 2025-12-31 Listed $229,000 Cincy MLS
• 2025-12-28 Listing Removed — Cincy MLS
• 2025-12-11 Price Changed $230,000 Cincy MLS
• 2025-11-24 Price Changed $231,000 Cincy MLS
• 2025-11-14 Relisted — Cincy MLS
• 2025-11-14 Price Changed $239,900 Cincy MLS
• 2025-11-02 Listing Removed — Cincy MLS
• 2025-09-17 Relisted — Cincy MLS
• 2025-09-07 Contingent — Cincy MLS
• 2025-08-28 Listed $240,000 Cincy MLS
• 2024-12-10 Sold (Public Records) $272,000 Public Records
• 2023-09-05 Listing Removed — Cincy MLS
• 2023-07-27 Price Changed $199,000 Cincy MLS
• 2023-07-05 Listed $150,000 Cincy MLS
• 2022-01-28 Sold (Public Records) $168,000 Public Records
• 2014-05-30 Sold (MLS) $24,000 Cincy MLS
• 2014-03-11 Listed $29,900 Cincy MLS
• 2003-07-24 Sold (Public Records) $80,000 Public Records

Property tax history

+18.4%/yr

Latest (2025): $3,744 · +0.1% YoY. Source: county tax records.