1407 Main St #4 · Cincinnati, OH 45202

$450,000

3 bd · 2.0 ba · 2,217 sqft · Condo public records · 28 Days on market

Built 1885 $254/mo HOA · 6% of rent

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Why this score? — see what drove the D 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 +14.5/30.0
• ARV discount +7.5/15.0
• 1% rule +5.2/10.0
• DSCR +4.4/10.0
• 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

Listing remarks MLS

Amazing 3 bdrm, 1.5 bath condo in the heart of OTR! 2,217 sq ft on 2 floors, with sliding glass barn doors, exposed brick, eat-in kitchen, open dining/living room, private balcony and gated courtyard. 1 parking spot at Ziegler Parking Garage included for 2017 @ $95/month. Also has on street parking. Motivated seller. Agent is owner.

Key facts

• Exposed brick
• Historic building
• Multi-level condo

Tags

• MULTI-LEVEL CONDO
• HISTORIC BUILDING
• EXPOSED BRICK
• FLEXIBLE LOFT-STYLE LIVING

Property features AI

Finance

• Other: Zoned residential; Lease not considered
• HOA & community: HOA with a monthly fee of $254 covering water and sewer

Exterior

• Utilities: Public water; Public sewer; Natural gas; Electric water heater
• Home design: Contemporary/Modern and Historical architectural elements; High-rise building (unit entry level 4); Two levels
• Construction: Brick exterior; Membrane roof; Other foundation
• Exterior features: Balcony; Vinyl windows

Interior

• Kitchen: Kitchen approximately 14 x 9; Dishwasher; Gas cooktop; Oven/Range; Garbage disposal; Refrigerator
• Bedrooms: Three bedrooms, each about 16 x 12 (primary on level 1)
• Bathrooms: Two full bathrooms (one on level 1, one on level 2)
• Heating & cooling: Variable speed HVAC
• Interior features: 8 total rooms; Full unfinished basement; Home warranty included
• Laundry & utility: Washer and dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $450k.

Deal economics

• At list price, monthly cash flow is $33 ($402/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $450k).
• Recommended offer: $443k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.6% 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; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 11d 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).
• At $4,592/mo this rent would consume 58% of the median local household income ($96k/yr) (locally 1514% 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 $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($443k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y 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.
• Current owner paid $290k; list at $450k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1885 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $443,250 (1.5% below list)

Questions for the listing agent

1. Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.02% ✓
• Cap rate: 6.56%
• Cash-on-cash: 0.95%
• DSCR: 1.04
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.7% rent growth · sell at horizon

5-year hold

• IRR: -16.1%
• Equity multiple: 0.43×
• Total profit: $-71,802
• Equity at exit: $67,096

10-year hold

• IRR: -8.2%
• Equity multiple: 0.49×
• Total profit: $-63,923
• Equity at exit: $38,908

Cash invested: $126,000 (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: 8.2×

Monthly cashflow live

• Estimated rent: $4,592 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$726 /mo · $8,718/yr
• Insurance: −$188
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$254
• Vacancy / Maint / Mgmt: −$964
• Net cashflow: $33

Break-even live

Break-even rent $4,550

Max offer price $450,000

Occupancy floor 94%

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1610 Sycamore St Cincinnati, OH	2.0	2.0	1600	$1,900	$1.19	10d	1	0.10mi
1410 Mansfield St Apt 4 Cincinnati, OH	3.0	2.0	1412	$2,387	$1.69	10d	1	0.12mi
1410 Mansfield St Apt 3 Cincinnati, OH	3.0	2.0	1412	$2,401	$1.70	10d	1	0.12mi
1602 Mansfield St Unit 1056028P Cincinnati, OH	2.0	2.0	1453	$4,145	$2.85	2d	1	0.13mi
21 E 15th St Unit 1512946P Cincinnati, OH	3.0	2.0	2852	$12,830	$4.50	23d	1	0.15mi
1354 Broadway Unit 1056136P Cincinnati, OH	4.0	3.0	2529	$7,307	$2.89	3d	1	0.17mi
1326 Broadway Unit 1324946P Cincinnati, OH	1.0–3.0	1.0–3.0	1162	$10,683	$9.19	23d	2	0.19mi
1304 Broadway Unit 1056130P Cincinnati, OH	1.0–5.0	1.0–4.0	2072	$5,808	$2.80	10d	2	0.22mi
424 Liberty Hl Unit 1056033P Cincinnati, OH	3.0	2.0	1453	$5,780	$3.98	2d	1	0.22mi
328 Mulberry St Cincinnati, OH	3.0	3.5	2640	$5,500	$2.08	23d	1	0.23mi
328 Mulberry St Cincinnati, OH	3.0	3.5	2640	$5,500	$2.08	14d	1	0.23mi
1537 Republic St Unit 1058850P Cincinnati, OH	4.0	3.0	2421	$10,677	$4.41	21d	1	0.27mi
100 East Central Pkwy Cincinnati, OH	1.0–2.0	1.0–2.0	1080	$2,734	$2.53	4d	8	0.29mi
1507 Race St Unit 1056026P Cincinnati, OH	2.0	1.0	1453	$3,630	$2.50	14d	1	0.30mi
1424 Pleasant St Unit 1056038P Cincinnati, OH	4.0	3.0	2960	$7,167	$2.42	14d	1	0.32mi
1508 Pleasant St Unit 1495913P Cincinnati, OH	1.0–3.0	1.0–2.0	1431	$8,294	$5.80	2d	2	0.32mi
1423 Pleasant St Unit 1056037P Cincinnati, OH	2.0	1.0	1560	$3,411	$2.19	2d	1	0.34mi
516 E 12th St Unit 1314562P Cincinnati, OH	4.0	2.0	2023	$10,170	$5.03	23d	1	0.34mi
1610 Pleasant St Unit 1056041P Cincinnati, OH	3.0–4.0	2.0–3.0	2960	$4,370	$1.48	10d	2	0.36mi
1617 Elm St Cincinnati, OH	3.0	1.0–2.0	1028	$4,819	$4.69	2d	44	0.42mi
111 W Elder St Unit 1056044P Cincinnati, OH	1.0–4.0	1.0–4.0	1835	$5,561	$3.03	10d	2	0.42mi
1826 Republic St Unit 1056093P Cincinnati, OH	2.0	1.0	1614	$2,812	$1.74	14d	1	0.43mi
55 Mulberry St Cincinnati, OH	3.0	3.0	2500	$3,500	$1.40	23d	1	0.47mi
224 E 8th St Cincinnati, OH	1.0–2.0	1.0–2.0	1200	$2,462	$2.05	2d	5	0.49mi
721 Main St Cincinnati, OH	2.0	1.0–2.0	991	$3,205	$3.23	2d	15	0.50mi
19 Garfield Pl Cincinnati, OH	1.0–2.0	1.0–2.0	1680	$2,260	$1.34	2d	11	0.56mi
634 Sycamore St Cincinnati, OH	2.0	1.0–1.5	1261	$2,615	$2.07	4d	9	0.57mi
345 E 7th St Cincinnati, OH	2.0	1.0–2.0	1184	$4,300	$3.63	3d	18	0.59mi
107 E Clifton Ave Unit 1234537P Cincinnati, OH	2.0–3.0	1.0–2.0	2260	$6,619	$2.93	14d	2	0.61mi
151 Seventh St W Cincinnati, OH	2.0	1.0–2.0	1191	$2,129	$1.79	2d	4	0.64mi
580 Walnut St Cincinnati, OH	2.0	1.0–2.5	1101	$4,822	$4.38	2d	19	0.66mi
2025 Burnet Ave Unit 2 Cincinnati, OH	3.0	2.0	1513	$1,795	$1.19	3d	1	0.66mi
1287 Ida St Cincinnati, OH	3.0	2.5	2494	$4,700	$1.88	17d	1	0.70mi
2105 Burnet Ave Unit 1056017P Cincinnati, OH	4.0	2.0	2960	$7,384	$2.49	2d	1	0.70mi
216 Gilman Ave Unit 1363975P Cincinnati, OH	3.0	1.0	1776	$3,474	$1.96	3d	1	0.73mi
923 Paradrome St Cincinnati, OH	3.0	2.5	2098	$3,000	$1.43	23d	1	0.74mi
236 Gilman Ave Cincinnati, OH	3.0	2.5	1699	$2,200	$1.29	12d	1	0.74mi
1055 St Paul Pl Cincinnati, OH	3.0	1.0–2.0	975	$2,995	$3.07	2d	10	0.76mi
2271 Vine St Cincinnati, OH	4.0	2.0	2268	$1,525	$0.67	4d	1	0.77mi
417 Vine St Cincinnati, OH	3.0	2.0	1602	$2,950	$1.84	14d	1	0.80mi

HOA detail condo

• Monthly dues: $254 · $3,048/yr
• Likely covers: securityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-18
   days on market $450,000 Active 28 DOM
2. 2026-06-17
   days on market $450,000 Active 27 DOM
3. 2026-06-16
   days on market $450,000 Active 26 DOM
4. 2026-06-15
   days on market $450,000 Active 25 DOM
5. 2026-06-13
   days on market $450,000 Active 23 DOM
6. 2026-06-13
   days on market $450,000 Active 22 DOM
7. 2026-06-09
   days on market $450,000 Active 19 DOM
8. 2026-06-08
   days on market $450,000 Active 18 DOM
9. 2026-06-07
   days on market $450,000 Active 17 DOM
10. 2026-06-03
    days on market $450,000 Active 13 DOM
11. 2026-06-02
    remarks 644-char remark
12. 2026-06-02
    days on market $450,000 Active 12 DOM
13. 2026-06-01
    days on market $450,000 Active 11 DOM
14. 2026-05-31
    days on market $450,000 Active 10 DOM
15. 2026-05-21
    listed $450,000 Active
16. 2017-10-06
    soldstatus $290,000
17. 2017-09-29
    soldstatus $290,000 Sold 334-char remark

    Show marketing remark (334 chars)

    Amazing 3 bdrm, 1.5 bath condo in the heart of OTR! 2,217 sq ft on 2 floors, with sliding glass barn doors, exposed brick, eat-in kitchen, open dining/living room, private balcony and gated courtyard. 1 parking spot at Ziegler Parking Garage included for 2017 @ $95/month. Also has on street parking. Motivated seller. Agent is owner.

18. 2017-08-08
    historical Accept Backup Offers 334-char remark

    Show marketing remark (334 chars)

    Amazing 3 bdrm, 1.5 bath condo in the heart of OTR! 2,217 sq ft on 2 floors, with sliding glass barn doors, exposed brick, eat-in kitchen, open dining/living room, private balcony and gated courtyard. 1 parking spot at Ziegler Parking Garage included for 2017 @ $95/month. Also has on street parking. Motivated seller. Agent is owner.

19. 2017-07-24
    price $299,900 334-char remark

    Show marketing remark (334 chars)

    Amazing 3 bdrm, 1.5 bath condo in the heart of OTR! 2,217 sq ft on 2 floors, with sliding glass barn doors, exposed brick, eat-in kitchen, open dining/living room, private balcony and gated courtyard. 1 parking spot at Ziegler Parking Garage included for 2017 @ $95/month. Also has on street parking. Motivated seller. Agent is owner.

20. 2017-07-05
    price $310,000 334-char remark

    Show marketing remark (334 chars)

    Amazing 3 bdrm, 1.5 bath condo in the heart of OTR! 2,217 sq ft on 2 floors, with sliding glass barn doors, exposed brick, eat-in kitchen, open dining/living room, private balcony and gated courtyard. 1 parking spot at Ziegler Parking Garage included for 2017 @ $95/month. Also has on street parking. Motivated seller. Agent is owner.

21. 2017-06-06
    listed $325,000 Active 334-char remark

    Show marketing remark (334 chars)

    Amazing 3 bdrm, 1.5 bath condo in the heart of OTR! 2,217 sq ft on 2 floors, with sliding glass barn doors, exposed brick, eat-in kitchen, open dining/living room, private balcony and gated courtyard. 1 parking spot at Ziegler Parking Garage included for 2017 @ $95/month. Also has on street parking. Motivated seller. Agent is owner.

22. 2017-06-06
    historical

    Show marketing remark (334 chars)

    Amazing 3 bdrm, 1.5 bath condo in the heart of OTR! 2,217 sq ft on 2 floors, with sliding glass barn doors, exposed brick, eat-in kitchen, open dining/living room, private balcony and gated courtyard. 1 parking spot at Ziegler Parking Garage included for 2017 @ $95/month. Also has on street parking. Motivated seller. Agent is owner.

23. 2017-05-16
    price $330,000
24. 2017-05-16
    status Active
25. 2017-05-15
    historical
26. 2017-04-17
    price $335,000
27. 2017-02-13
    price $345,000
28. 2017-01-30
    price $349,000
29. 2016-12-16
    listed $355,000 Active
30. 2016-12-13
    historical
31. 2016-11-23
    listed $355,000 Active
32. 2016-11-23
    historical
33. 2016-09-28
    price $365,000
34. 2016-08-26
    listed $375,000 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: $8,718 · $726/mo
• Projected year-2 tax: $8,718 · $726/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 7/10 Severe 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: $55,105
• − Mortgage interest: −$25,207
• − Property taxes: −$8,718
• − Insurance: −$3,048
• − Repairs & maintenance: −$4,408
• − Management: −$4,408
• − HOA: −$3,048
• − Depreciation: −$13,091
• Taxable loss: −$6,823
• Est. tax savings @ 24.0%: +$1,637
• After-tax cash flow: $2,039/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

+20.0% since first listed

20 events — show timeline

• 2026-05-21 Listed $450,000 Cincy MLS
• 2017-10-06 Sold (Public Records) $290,000 Public Records
• 2017-09-29 Sold (MLS) $290,000 Cincy MLS
• 2017-08-08 Contingent — Cincy MLS
• 2017-07-24 Price Changed $299,900 Cincy MLS
• 2017-07-05 Price Changed $310,000 Cincy MLS
• 2017-06-06 Listed $325,000 Cincy MLS
• 2017-06-06 Listing Removed — Cincy MLS
• 2017-05-16 Price Changed $330,000 Cincy MLS
• 2017-05-16 Relisted — Cincy MLS
• 2017-05-15 Listing Removed — Cincy MLS
• 2017-04-17 Price Changed $335,000 Cincy MLS
• 2017-02-13 Price Changed $345,000 Cincy MLS
• 2017-01-30 Price Changed $349,000 Cincy MLS
• 2016-12-16 Listed $355,000 Cincy MLS
• 2016-12-13 Listing Removed — Cincy MLS
• 2016-11-23 Listed $355,000 Cincy MLS
• 2016-11-23 Listing Removed — Cincy MLS
• 2016-09-28 Price Changed $365,000 Cincy MLS
• 2016-08-26 Listed $375,000 Cincy MLS

Property tax history

+12.8%/yr

Latest (2025): $8,718 · +3.2% YoY. Source: county tax records.