3962 W Eighth St · Cincinnati, OH 45205

$199,000

4 bd · 2.0 ba · 2,800 sqft · MultiFamily public records · 10 Days on market

Built 1917 5,489 sqft lot Est $221k · 10% under

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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 +13.8/30.0
• ARV discount +12.0/15.0
• 1% rule +4.5/10.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Two Family Investment Opportunity!priced Below Market. Needs Updating. On Bus Line. To Be Sold as Is.

Key facts

• Covered front porch
• New furnace
• Convenient access

Tags

• NEW FURNACE
• CENTRAL A C
• SPACIOUS BASEMENT
• COVERED FRONT PORCH
• CONVENIENT ACCESS

Property features AI

Finance

• Other: Heat and water paid by tenants; Separate gas/electric metering for units
• Financial info: Unit 2 rents for $2,100; 3+ bedroom unit market rent listed as $2,100
• HOA & community:

Exterior

• Parking: Driveway with 5 open parking spaces
• Security:
• Utilities: Public water; Public sewer; Natural gas
• Home design: Triplex; Three-plus levels; Stone foundation
• Construction: Brick construction; Shingle roof
• Exterior features: Wood windows; Lot approximately 50 x 114 (about 0.126 acres)

Interior

• Kitchen:
• Bedrooms: One 4-bedroom unit; One 3-bedroom unit
• Flooring:
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Forced air heating (gas); Separate furnaces for units; Central air conditioning; Separate A/C for units
• Interior features: Full basement; Inoperable fireplace
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $19 ($226/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (4.6% below list).
• Recommended offer: $190k (4.6% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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 (+3.3%/yr); 69 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $1,898/mo this rent would consume 52% of the median local household income ($44k/yr) (locally 980% 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.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 26y 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 $53k; list at $199k implies a 275% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $189,839 (4.6% below list)

Questions for the listing agent

1. Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.95% ✗
• Cap rate: 6.41%
• Cash-on-cash: 0.41%
• DSCR: 1.02
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $221,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
931 Suire Ave	0.18mi	4/2.0	2,725 (-3%)	12mo	$275,000	$101	78
966 Fairbanks Ave	0.73mi	4/2.0	2,679 (-4%)	1mo	$25,000	$9	58
4062 St Williams Ave	0.22mi	5/3.0 (+1)	3,006 (+7%)	14mo	$277,000	$92	56
945 Oakland Ave	0.38mi	4/3.0	2,430 (-13%)	2mo	$105,000	$43	54
4247 W Eighth St	0.53mi	5/3.0 (+1)	2,983 (+6%)	3mo	$222,000	$74	53
3644 Laclede Ave	0.61mi	4/4.0	2,800 (0%)	13mo	$192,000	$69	52
4367 Ridgeview Ave	0.72mi	4/2.0	2,665 (-5%)	10mo	$217,500	$82	50
776 Wells St	0.64mi	4/4.0	2,624 (-6%)	2mo	$255,000	$97	50
1006 Kreis Ln	0.48mi	5/2.0 (+1)	2,426 (-13%)	6mo	$269,000	$111	45
1253 Quebec Rd	0.67mi	5/2.0 (+1)	3,060 (+9%)	10mo	$164,000	$54	40
4614 Midland Ave	0.67mi	3/3.0 (-1)	2,455 (-12%)	3mo	$195,000	$79	37
1245 Iliff Ave	0.61mi	5/3.5 (+1)	2,476 (-12%)	10mo	$170,000	$69	33

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 · 3.3% rent growth · sell at horizon

5-year hold

• IRR: -15.2%
• Equity multiple: 0.45×
• Total profit: $-30,377
• Equity at exit: $29,672

10-year hold

• IRR: -6.1%
• Equity multiple: 0.60×
• Total profit: $-22,153
• Equity at exit: $17,206

Cash invested: $55,720 (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 45205

• Rents YoY: 3.3%
• Active inventory: 69
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,898 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$354 /mo · $4,253/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $19

Break-even live

Break-even rent $1,875

Max offer price $199,000

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
943 Rosemont Ave Cincinnati, OH	5.0	1.5	2132	$1,700	$0.80	16d	1	0.25mi
1014 Considine Ave Cincinnati, OH	4.0	2.0	2200	$2,000	$0.91	1d	1	1.01mi
775 Summit Ave Cincinnati, OH	3.0	2.0	2700	$2,100	$0.78	14d	1	1.17mi

Listing history 8 events

1. 2026-06-18
   days on market $199,000 Active 10 DOM
2. 2026-06-17
   days on market $199,000 Active 9 DOM
3. 2026-06-16
   days on market $199,000 Active 8 DOM
4. 2026-06-15
   days on market $199,000 Active 7 DOM
5. 2026-06-13
   days on market $199,000 Active 5 DOM
6. 2026-06-13
   days on market $199,000 Active 4 DOM
7. 2026-06-08
   remarks 590-char remark
8. 2026-06-08
   listed $199,000 Active 1 DOM

ⓘ 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: $4,253 · $354/mo
• Projected year-2 tax: $4,253 · $354/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 ≥102°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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,781
• − Mortgage interest: −$11,147
• − Property taxes: −$4,253
• − Insurance: −$995
• − Repairs & maintenance: −$1,822
• − Management: −$1,822
• − Depreciation: −$5,789
• Taxable loss: −$3,048
• Est. tax savings @ 24.0%: +$732
• After-tax cash flow: $958/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): 18,651
• Household income: $43,682
• Rent vs Own: 63.1% rent · 36.9% own
• Severe rent burden: 980.0

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 0.69)
• Race & ethnicity: Black 43% White 32% Hispanic / Latino 16% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 1% Slovak 1% Serbian 1%
• Foreign-born: 9% · Canada, India, China
• Languages at home: 84% English-only · Spanish 10% Other Asian/Pacific 2% 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: ▼ -138.67%
• Current HPI: 163.3375
• Rent YoY: ▲ 3.30%
• 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

+232.2% since first listed

4 events — show timeline

• 2026-06-08 Listed $199,000 Cincy MLS
• 2000-05-10 Sold (Public Records) $53,000 Public Records
• 2000-04-28 Sold (MLS) $53,000 Cincy MLS
• 2000-02-14 Listed $59,900 Cincy MLS

Property tax history

+13.1%/yr

Latest (2025): $4,253 · +0.1% YoY. Source: county tax records.