1947 W North Bend Rd · Cincinnati, OH 45224

$153,900

4 bd · 1.0 ba · 1,578 sqft · SingleFamily public records · 76 Days on market

Built 1948 7,710 sqft lot Est $252k · 39% under

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Why this score? — see what drove the C+ 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 +23.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +6.7/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lender owned. All buyers must have pre-approval letter or proof of funds & copy of earnest money with offer. Sold as-is, where-is.

Key facts

• Spacious yard
• Ample natural light
• Near dining

Tags

• CONVENIENT CINCINNATI LOCATION
• FUNCTIONAL LAYOUT
• AMPLE NATURAL LIGHT
• SPACIOUS YARD
• NEAR SHOPPING
• NEAR DINING

Property features AI

Finance

• Other: Zoned residential
• Financial info: Lease not considered
• HOA & community: No HOA

Exterior

• Parking: Attached front garage (1 car); Driveway parking
• Security: No security features listed
• Utilities: Public water; Public sewer; Natural gas
• Home design: Traditional single-family home; Two levels; Poured foundation
• Construction: Brick construction; Shingle roof
• Exterior features: Casement windows; 50 x 150 lot (approximately 0.177 acres)

Interior

• Kitchen: Pantry; Counter bar; Vinyl flooring; Wood cabinets; Includes oven/range and refrigerator
• Bedrooms: Four bedrooms total; Primary bedroom on level 1 (11 x 11); Bedroom 2 on level 1 (9 x 13); Bedroom 3 on level 2 (10 x 14); Bedroom 4 on level 2 (10 x 11)
• Flooring: Wood floors in dining area; Vinyl in kitchen; Carpet in living area
• Bathrooms: One full bathroom on level 1 with tub and shower
• Heating & cooling: Forced air gas heating; Central air conditioning; Gas water heating
• Interior features: Seven total rooms; Wall-to-wall carpet and wood flooring in living areas; Partially finished walkout basement; Full basement
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $154k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $154k).
• Recommended offer: $145k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 (+1.8%/yr); 52 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• This rent runs 38% of the median local income ($56k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 30y ago; this cycle's ask has dropped $31k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $16k; list at $154k implies a 862% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $144,666 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.17% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.90%
• DSCR: 1.35
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $252,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1963 W North Bend Rd	0.04mi	4/1.0	1,513 (-4%)	9mo	$142,000	$94	84
6243 Aspen Ave	0.27mi	3/2.0 (-1)	1,568 (-1%)	9mo	$240,000	$153	70
2235 W North Bend Rd	0.43mi	3/2.0 (-1)	1,576 (-0%)	1mo	$135,000	$86	70
6425 Aspen Way	0.46mi	3/2.0 (-1)	1,512 (-4%)	6mo	$203,000	$134	58
1568 Wittekind Ter	0.61mi	3/2.5 (-1)	1,600 (+1%)	2mo	$415,000	$259	57
6360 Meis Ave	0.39mi	3/2.0 (-1)	1,433 (-9%)	6mo	$150,000	$105	53
1917 Emerson Ave	0.58mi	4/2.0	1,488 (-6%)	9mo	$198,000	$133	52
1634 Birchwood Ave	0.53mi	3/1.5 (-1)	1,670 (+6%)	9mo	$267,500	$160	51
1541 Wittekind Ter	0.65mi	4/2.5	1,640 (+4%)	8mo	$317,000	$193	51
2043 Blue Bell Dr	0.51mi	3/3.0 (-1)	1,480 (-6%)	4mo	$320,000	$216	49
2268 Deblin Dr	0.68mi	4/2.0	1,443 (-9%)	3mo	$240,000	$166	48
1611 Harbeson Ave	0.52mi	3/2.0 (-1)	1,813 (+15%)	4mo	$330,000	$182	38

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 · 1.82% rent growth · sell at horizon

5-year hold

• IRR: -5.6%
• Equity multiple: 0.79×
• Total profit: $-8,912
• Equity at exit: $22,947

10-year hold

• IRR: 2.5%
• Equity multiple: 1.17×
• Total profit: $7,342
• Equity at exit: $13,306

Cash invested: $43,092 (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 45224

• Rents YoY: 1.8%
• Active inventory: 52
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,797 high
• Mortgage (P&I): −$807
• Tax from tax record: −$265 /mo · $3,175/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $284

Break-even live

Break-even rent $1,438

Max offer price $153,900

Occupancy floor 79%

Sensitivity live

Price	-10% $371	-5% $327	+0% $284	+5% $240	+10% $197
Rent	-10% $142	-5% $213	+0% $284	+5% $355	+10% $426
Rate	-1.0pp $361	-0.5pp $323	base $284	+0.5pp $244	+1.0pp $203

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: $38,475
• Closing costs: $4,617
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5928 Belmont Ave Unit Washer Dryer Hookup Cincinnati, OH	3.0	1.0	1120	$1,395	$1.25	17d	1	0.24mi
1805 Emerson Ave Cincinnati, OH	3.0	1.0	1912	$1,550	$0.81	24d	1	0.59mi
1409 Cedar Ave Cincinnati, OH	3.0	1.0	1248	$1,525	$1.22	5d	1	0.84mi
6834 Betts Ave Cincinnati, OH	4.0	1.5	1426	$1,695	$1.19	24d	1	0.99mi
1090 Elda Ln Cincinnati, OH	5.0	2.5	2188	$2,500	$1.14	3d	1	1.23mi
1740 Bising Ave North College Hill, OH	3.0	2.0	1235	$1,697	$1.37	2d	6	1.27mi
7032 La Boiteaux Ave Cincinnati, OH	4.0	1.0	1200	$1,800	$1.50	24d	1	1.31mi
5293 E Knoll Ct Cincinnati, OH	1.0–3.0	1.0–1.5	835	$1,599	$1.91	2d	14	1.36mi

Listing history 23 events

1. 2026-06-18
   days on market $153,900 Active 76 DOM
2. 2026-06-17
   days on market $153,900 Active 75 DOM
3. 2026-06-16
   days on market $153,900 Active 74 DOM
4. 2026-06-15
   days on market $153,900 Active 73 DOM
5. 2026-06-13
   days on market $153,900 Active 71 DOM
6. 2026-06-13
   pricedays on market $153,900 Active 70 DOM
7. 2026-06-09
   days on market $164,900 Active 67 DOM
8. 2026-06-08
   days on market $164,900 Active 66 DOM
9. 2026-06-07
   pricedays on market $164,900 Active 65 DOM
10. 2026-06-03
    days on market $169,900 Active 61 DOM
11. 2026-06-02
    days on market $169,900 Active 60 DOM
12. 2026-06-01
    days on market $169,900 Active 59 DOM
13. 2026-05-31
    days on market $169,900 Active 58 DOM
14. 2026-05-14
    price $169,900
15. 2026-04-24
    price $179,900
16. 2026-04-03
    listed $184,900 Active
17. 2013-07-03
    soldstatus $16,000
18. 2006-07-31
    soldstatus $57,256 134-char remark

    Show marketing remark (134 chars)

    Lender owned. All buyers must have pre-approval letter or proof of funds & copy of earnest money with offer. Sold as-is, where-is.

19. 2006-07-31
    soldstatus $57,300

    Show marketing remark (134 chars)

    Lender owned. All buyers must have pre-approval letter or proof of funds & copy of earnest money with offer. Sold as-is, where-is.

20. 2006-04-25
    listed $59,900 134-char remark

    Show marketing remark (134 chars)

    Lender owned. All buyers must have pre-approval letter or proof of funds & copy of earnest money with offer. Sold as-is, where-is.

21. 1997-01-07
    soldstatus $57,500
22. 1996-12-20
    soldstatus $57,500 71-char remark

    Show marketing remark (71 chars)

    Garage Door Opener,Automatic Dishwasher, Coved Ceilings In Lr & Dr

23. 1996-09-03
    listed $59,900 71-char remark

    Show marketing remark (71 chars)

    Garage Door Opener,Automatic Dishwasher, Coved Ceilings In Lr & Dr

ⓘ 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: $3,175 · $265/mo
• Projected year-2 tax: $3,175 · $265/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 4/10 Moderate 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,561
• − Mortgage interest: −$8,621
• − Property taxes: −$3,175
• − Insurance: −$770
• − Repairs & maintenance: −$1,725
• − Management: −$1,725
• − Depreciation: −$4,477
• Taxable income: $1,068
• Est. tax owed @ 24.0%: −$256
• After-tax cash flow: $3,147/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): 21,900
• Household income: $56,471
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 1382.0

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 0.60)
• Race & ethnicity: Black 51% White 37% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Lithuanian 2% Italian 2% Slovak 1%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -148.06%
• Current HPI: 224.1379
• Rent YoY: ▲ 1.82%
• 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

+183.6% since first listed

10 events — show timeline

• 2026-05-14 Price Changed $169,900 Cincy MLS
• 2026-04-24 Price Changed $179,900 Cincy MLS
• 2026-04-03 Listed $184,900 Cincy MLS
• 2013-07-03 Sold (Public Records) $16,000 Public Records
• 2006-07-31 Sold (Public Records) $57,300 Public Records
• 2006-07-31 Sold (MLS) $57,256 Cincy MLS
• 2006-04-25 Listed $59,900 Cincy MLS
• 1997-01-07 Sold (Public Records) $57,500 Public Records
• 1996-12-20 Sold (MLS) $57,500 Cincy MLS
• 1996-09-03 Listed $59,900 Cincy MLS

Property tax history

+14.4%/yr

Latest (2025): $3,175 · +0.1% YoY. Source: county tax records.