2734 Hoff Ave · Cincinnati, OH 45202

$220,000

3 bd · 2.0 ba · 1,440 sqft · MultiFamily public records · 1056 Days on market

Built 1885 2,483 sqft lot Est $288k · 24% 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 +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• 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: 2 units. confirmed

Listing remarks

This 2 family dwelling is part of the revitalized neighborhood. Don't miss out on this view of the Ohio River. Convenient to downtown and Hyde park. Close to river bike path, boat/water recreation, Eli's bbq, precinct & so much more.

Key facts

• 2,483 sq ft lot
• Built 1885
• Listed 1056 days

Property features AI

Finance

• Other: Total buildings: 1
• Financial info: Property contains 2 total units; Both units are 1-bedroom; 2nd-floor unit is vacant; One-bedroom rent listed at $400

Exterior

• Parking: Off-street parking
• Utilities: Public water (owner pays); Public sewer; Natural gas
• Home design: Duplex; Two levels
• Construction: Stone foundation
• Exterior features: Brick and stone exterior; Vinyl windows; Shingle roof; Lot dimensions approximately 25 x 100

Interior

• Bedrooms: Two 1-bedroom units (each unit has 1 bedroom)
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Electric heating (owner pays heat); Window air conditioning units; Natural gas available (separate gas/electric meters)
• Interior features: Two-story duplex; Existing structure

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $861 ($10k/yr) — positive. Per door: $430/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $194k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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 (+2.7%/yr); 154 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• This rent runs 36% of the median local income ($96k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 + 2.7% rent growth), your $62k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 1056 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1885 — 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 $193,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 1056 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 1885 — 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: 1.29% ✓
• Cap rate: 10.99%
• Cash-on-cash: 16.77%
• DSCR: 1.75
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $288,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3143 Riverside Dr	0.58mi	4/2.0 (+1)	1,650 (+15%)	17mo	$330,500	$200	30

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 · 2.7% rent growth · sell at horizon

5-year hold

• IRR: 7.6%
• Equity multiple: 1.30×
• Total profit: $18,290
• Equity at exit: $32,803

10-year hold

• IRR: 16.6%
• Equity multiple: 2.35×
• Total profit: $82,882
• Equity at exit: $19,022

Cash invested: $61,600 (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 45202

• Rents YoY: 2.7%
• Active inventory: 154
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $2,843 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$140 /mo · $1,676/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$597
• Net cashflow: $861

Break-even live

Break-even rent $1,753

Max offer price $220,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,842
Total (2 units)			$2,843

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1181 Manhattan Blvd Dayton, KY	2.0	2.0	1124	$2,712	$2.41	1d	10	0.61mi
1065 Manhattan Blvd Dayton, KY	1.0–3.0	1.0–2.0	1038	$2,749	$2.65	1d	19	0.62mi
2101 Grandin Rd Cincinnati, OH	1.0–2.0	1.0–2.0	1042	$2,099	$2.01	1d	12	0.69mi
2365 Madison Rd Cincinnati, OH	1.0–3.0	1.0–2.0	1100	$1,600	$1.45	23d	1	0.98mi
3451 Kleybolte Ave Cincinnati, OH	1.0–2.0	1.0	775	$1,125	$1.45	23d	1	1.01mi
1271 Morten St Unit 1 Cincinnati, OH	2.0	1.0	950	$1,600	$1.68	17d	1	1.11mi
735 Delta Ave Cincinnati, OH	2.0	1.0	900	$1,420	$1.58	1d	4	1.12mi
2705 Hackberry St Unit 1 Cincinnati, OH	2.0	1.0	1200	$1,395	$1.16	3d	1	1.15mi
2705 Hackberry St Unit 1 Cincinnati, OH	2.0	1.0	1000	$1,395	$1.40	23d	1	1.15mi
2716 Woodburn Ave Unit 2 Cincinnati, OH	2.0	1.0	900	$1,350	$1.50	23d	1	1.27mi
2401 Salutaris Ave Cincinnati, OH	1.0–2.0	1.0	800	$1,300	$1.62	23d	1	1.28mi
3001-A Woodburn Ave Cincinnati, OH	1.0–2.0	1.0–2.0	947	$2,252	$2.38	1d	12	1.30mi
1404-1406 E McMillan St Cincinnati, OH	1.0–2.0	1.0–1.5	1200	$1,695	$1.41	23d	1	1.34mi
2552 Madison Rd Apt 41 Cincinnati, OH	3.0	2.0	1025	$2,295	$2.24	1d	1	1.34mi
3538 Burch Ave #2 Cincinnati, OH	3.0	1.0	1485	$2,250	$1.52	1d	1	1.35mi
2533 Woodburn Ave Cincinnati, OH	3.0	1.0–3.0	912	$3,320	$3.64	1d	39	1.36mi
3326 Fairfield Ave Cincinnati, OH	3.0	2.0	1566	$1,600	$1.02	10d	1	1.38mi
2846 Observatory Ave Cincinnati, OH	4.0	1.0	1357	$3,000	$2.21	23d	1	1.40mi
2584 Madison Rd Unit 1056073P Cincinnati, OH	2.0	1.0	1431	$4,609	$3.22	1d	1	1.41mi
2881 Observatory Ave Unit 2 Cincinnati, OH	2.0	3.0	1800	$2,400	$1.33	4d	1	1.42mi
3578 Burch Ave Cincinnati, OH	2.0	2.0	1250	$2,595	$2.08	1d	1	1.45mi
837 Van Dyke Ave Apt 3 Cincinnati, OH	2.0	1.0	900	$1,495	$1.66	4d	1	1.47mi
3439 Duncan Ave Cincinnati, OH	4.0	1.5	1809	$3,500	$1.93	23d	1	1.48mi
3131 Harvard Ave Cincinnati, OH	3.0	1.0	1264	$1,645	$1.30	23d	1	1.49mi

Listing history 14 events

1. 2026-06-18
   days on market $220,000 Active 1056 DOM
2. 2026-06-17
   days on market $220,000 Active 1055 DOM
3. 2026-06-16
   days on market $220,000 Active 1054 DOM
4. 2026-06-15
   days on market $220,000 Active 1053 DOM
5. 2026-06-13
   days on market $220,000 Active 1051 DOM
6. 2026-06-13
   days on market $220,000 Active 1050 DOM
7. 2026-06-09
   days on market $220,000 Active 1047 DOM
8. 2026-06-08
   days on market $220,000 Active 1046 DOM
9. 2026-06-07
   days on market $220,000 Active 1045 DOM
10. 2026-06-03
    days on market $220,000 Active 1041 DOM
11. 2026-06-02
    days on market $220,000 Active 1040 DOM
12. 2026-06-01
    days on market $220,000 Active 1039 DOM
13. 2026-05-31
    days on market $220,000 Active 1038 DOM
14. 2023-07-28
    listed $220,000 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: $1,676 · $140/mo
• Projected year-2 tax: $2,554 · $213/mo
• Expected delta: +$878/yr (+$73/mo · 52.4%)

ⓘ 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: $34,116
• − Mortgage interest: −$12,323
• − Property taxes: −$1,676
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,729
• − Management: −$2,729
• − Depreciation: −$6,400
• Taxable income: $7,158
• Est. tax owed @ 24.0%: −$1,718
• After-tax cash flow: $8,614/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): 17,869
• Household income: $95,633
• Rent vs Own: 73.6% rent · 26.4% own
• Severe rent burden: 1514.0

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 White (64%)
• Race & ethnicity: White 64% Black 23% Two or more races 6% Asian 4% Hispanic / Latino 2%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 2%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 91% English-only · Other Indo-European 2% Spanish 2% Other Asian/Pacific 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: ▼ -219.24%
• Current HPI: 233.4526
• Rent YoY: ▲ 2.70%
• 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

• 2023-07-28 Listed $220,000 Cincy MLS

Property tax history

+6.2%/yr

Latest (2025): $1,676 · +0.1% YoY. Source: county tax records.