5906 Highland Ave · Elmwood Place, OH 45216

$204,900

4 bd · 2.0 ba · 2,455 sqft · MultiFamily public records · 43 Days on market

Built 1914 3,746 sqft lot Est $295k · 30% 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 +29.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Schools +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• 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 MLS

HUD case#411-356786 bid by phone/internet.Bid info avail at web-see agent remarks.Sold as is. MCB makes no warranty as to the existence of mold, and is not liable for potential harmful effects.FHA financing requires repair escrow$1100.

Key facts

• Large windows
• 2 story brick duplex
• Functional kitchens

Tags

• 2 STORY BRICK DUPLEX
• FENCED BACKYARD
• LARGE WINDOWS
• SPACIOUS LIVING AREAS
• FUNCTIONAL KITCHENS
• EASY ACCESS TO I-75

Property features AI

Finance

• Other: Total buildings on lot: 1
• Financial info: Property contains 2 total units (both are 2-bedroom units); Unit 1 reported rent: $1,040
• HOA & community: No HOA information provided

Exterior

• Parking: On-street parking
• Security: No security features provided
• Utilities: Public water; Public sewer; Natural gas
• Home design: Duplex; Two levels; Poured foundation
• Construction: Brick construction; Shingle roof
• Exterior features: Insulated windows; Lot approximately 0.086 acres (3,746 sq ft)

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Two 2-bedroom units (each unit has 2 bedrooms)
• Flooring: No flooring details provided
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Forced air heating (gas)
• Interior features: Full basement; Two fireplaces (ceramic, currently inoperable)
• Laundry & utility: Separate furnace for units; Separate gas and electric meters

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $205k.

Deal economics

• At list price, monthly cash flow is $658 ($8k/yr) — positive. Per door: $329/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $205k).
• Recommended offer: $199k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#553 in OH) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing B; Watch: employment D+, schools F, crime F.
• St Bernard-Elmwood Place City (suburban): math 36% / reading 48% proficiency, ranked #529 of 656 in OH (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 19 active listings in the ZIP; lower-income renter base — watch delinquency; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $2,623/mo this rent would consume 71% of the median local household income ($44k/yr) (locally 407% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $57k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $198,753 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.28% ✓
• Cap rate: 10.47%
• Cash-on-cash: 14.92%
• DSCR: 1.66
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $294,600
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
519 Maple St	0.15mi	4/3.0	2,272 (-8%)	5mo	$272,000	$120	72
222 W Sixty Eighth St	0.57mi	4/2.0	2,608 (+6%)	18mo	$33,000	$13	48
6703 Vine St	0.52mi	3/3.0 (-1)	2,280 (-7%)	16mo	$60,000	$26	41
1148 Elm Park Dr	0.63mi	4/2.0	2,184 (-11%)	18mo	$300,000	$137	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.9%
• Equity multiple: 1.15×
• Total profit: $8,728
• Equity at exit: $30,551

10-year hold

• IRR: 13.5%
• Equity multiple: 2.08×
• Total profit: $61,699
• Equity at exit: $17,716

Cash invested: $57,372 (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 45216

• Home prices YoY: -19.1%
• Active inventory: 19
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $2,623 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$199 /mo · $2,388/yr
• Insurance: −$85
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$551
• Net cashflow: $658

Break-even live

Break-even rent $1,790

Max offer price $204,900

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,624
Total (2 units)			$2,623

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: $51,225
• Closing costs: $6,147
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   price $204,900 Active 43 DOM
2. 2026-06-18
   days on market $219,900 Active 43 DOM
3. 2026-06-17
   days on market $219,900 Active 42 DOM
4. 2026-06-16
   days on market $219,900 Active 41 DOM
5. 2026-06-15
   days on market $219,900 Active 40 DOM
6. 2026-06-13
   days on market $219,900 Active 38 DOM
7. 2026-06-09
   days on market $219,900 Active 34 DOM
8. 2026-06-08
   days on market $219,900 Active 33 DOM
9. 2026-06-07
   days on market $219,900 Active 32 DOM
10. 2026-06-05
    days on market $219,900 Active 29 DOM
11. 2026-06-03
    days on market $219,900 Active 28 DOM
12. 2026-06-02
    days on market $219,900 Active 27 DOM
13. 2026-06-01
    days on market $219,900 Active 26 DOM
14. 2026-05-31
    days on market $219,900 Active 25 DOM
15. 2026-05-06
    listed $219,900 Active
16. 2024-12-06
    soldstatus $11,324,000
17. 2018-07-26
    soldstatus $337,900
18. 2007-03-16
    soldstatus $38,000 235-char remark

    Show marketing remark (235 chars)

    HUD case#411-356786 bid by phone/internet.Bid info avail at web-see agent remarks.Sold as is. MCB makes no warranty as to the existence of mold, and is not liable for potential harmful effects.FHA financing requires repair escrow$1100.

19. 2006-05-19
    listed $40,800 235-char remark

    Show marketing remark (235 chars)

    HUD case#411-356786 bid by phone/internet.Bid info avail at web-see agent remarks.Sold as is. MCB makes no warranty as to the existence of mold, and is not liable for potential harmful effects.FHA financing requires repair escrow$1100.

20. 2005-12-31
    historical
21. 2005-07-29
    listed $79,900
22. 2004-12-30
    historical
23. 2004-06-25
    listed $104,900
24. 2003-04-22
    soldstatus $94,500
25. 2003-04-09
    soldstatus $94,500
26. 2003-01-21
    listed $89,900

ⓘ 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: $2,388 · $199/mo
• Projected year-2 tax: $2,792 · $233/mo
• Expected delta: +$404/yr (+$34/mo · 16.9%)

ⓘ 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) · 83% 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: $31,476
• − Mortgage interest: −$11,478
• − Property taxes: −$2,388
• − Insurance: −$1,691
• − Repairs & maintenance: −$2,518
• − Management: −$2,518
• − Depreciation: −$5,961
• Taxable income: $4,923
• Est. tax owed @ 24.0%: −$1,181
• After-tax cash flow: $6,711/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: St Bernard-Elmwood Place City
• NCES district ID: 3904471
• Math proficiency: 36% ▼ -11.00%
• Reading proficiency: 48% ▼ -9.00%
• Median HH income: $41,587
• Composite: 35.3/100
• National rank: #4966
• State rank: #529 of 656 in OH

Livability — Elmwood Place

• Score: 68/100
• State rank: #553
• US rank: #9449

Category grades

Amenities F Commute A+ Cost of living A+ Crime F Employment D+ Housing B Health & safety C User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elmwood Place, OH
• County: Hamilton County · 701,295 people
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 9,569
• Household income: $44,099
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 407.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 56% Black 20% Hispanic / Latino 15% Two or more races 10%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 2% Serbian 2% Iranian 1%
• Foreign-born: 12% · Canada, Guatemala
• Languages at home: 88% English-only · Spanish 11%

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: ▼ -58.73%
• Current HPI: 248.8995
• 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

+144.6% since first listed

12 events — show timeline

• 2026-05-06 Listed $219,900 Cincy MLS
• 2024-12-06 Sold (Public Records) $11,324,000 Public Records
• 2018-07-26 Sold (Public Records) $337,900 Public Records
• 2007-03-16 Sold (MLS) $38,000 Cincy MLS
• 2006-05-19 Listed $40,800 Cincy MLS
• 2005-12-31 Listing Removed — Cincy MLS
• 2005-07-29 Listed $79,900 Cincy MLS
• 2004-12-30 Listing Removed — Cincy MLS
• 2004-06-25 Listed $104,900 Cincy MLS
• 2003-04-22 Sold (Public Records) $94,500 Public Records
• 2003-04-09 Sold (MLS) $94,500 Cincy MLS
• 2003-01-21 Listed $89,900 Cincy MLS

Property tax history

+6.5%/yr

Latest (2025): $2,388 · +1.1% YoY. Source: county tax records.