1712 Queen City Ave #1 · Cincinnati, OH 45214

$390,000

6 bd · 0.0 ba · 3,707 sqft · MultiFamily · 6 Days on market

Built 1895 Fair condition 5,706 sqft lot

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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 +19.6/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +5.2/10.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• Schools +2.5/10.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Opportunity awaits with this well-built brick mixed-use building in the City of Cincinnati, offering both commercial and residential zoning flexibility. Conveniently located near highways, shops, restaurants, and everyday amenities, this 3-unit multifamily property features one 2-bedroom unit, one 5-bedroom unit, plus potential for a 3rd unit within the detached garage. Tenants pay their own gas and electric, while the landlord covers water. Unit 1 is fully electric with its own electric water heater, and Unit 2 uses both gas and electric and is currently leased at $1,549/month. With approximately $87,000 in improvements completed since purchase, this property offers strong functionality, u

Key facts

• Investment property
• Mixed-use building
• Detached garage

Tags

• MIXED-USE BUILDING
• DETACHED GARAGE
• ELECTRIC WATER HEATER
• IMPROVEMENTS COMPLETED
• INVESTMENT PROPERTY
• LIVE/WORK OPPORTUNITY

Property features AI

Finance

• Other: Two total buildings on the parcel
• Financial info: Property contains 3 rental units; 3+ bedroom unit listed with rent of $1,549

Exterior

• Parking: 3 garage spaces; 3 open parking spaces; Driveway and off-street asphalt parking
• Utilities: Public water; Public sewer; Natural gas
• Home design: Triplex; Three or more stories; Stone foundation; Wood windows; Shingle roof; Zoned for multi-family and commercial
• Construction: Brick construction; Stone foundation; Shingle roof; Built on three+ levels
• Exterior features: Porch; Corner lot; Busline nearby

Interior

• Bedrooms: Triplex with three total units: one 1-bedroom unit, one 2-bedroom unit, and one 3+ bedroom unit
• Heating & cooling: Central air; Electric, forced air and gas heating; Separate furnaces and separate A/C for units; Gas is natural; Heat paid by tenant; Water paid by owner
• Interior features: Full basement; Inoperable fireplace

What this means for you Summary

Snapshot

• This is a 2×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $390k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive. Per door: $151/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $390k).
• Cap rate 7.7% 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 fast (+8.1%/yr); 67 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 $3,985/mo this rent would consume 172% of the median local household income ($28k/yr) (locally 857% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $42k of equity ($3k loan paydown + $39k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $109k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$67k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $390,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
9. 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.
10. 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: 7.69%
• Cash-on-cash: 4.98%
• DSCR: 1.22
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $222,420
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1900 State Ave	0.68mi	5/2.0 (-1)	3,186 (-14%)	2mo	$190,000	$60	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 29.9%
• Equity multiple: 3.40×
• Total profit: $262,373
• Equity at exit: $351,343

10-year hold

• IRR: 27.5%
• Equity multiple: 8.35×
• Total profit: $802,250
• Equity at exit: $757,684

Cash invested: $109,200 (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 45214

• Home prices YoY: 3.6%
• Rents YoY: 8.1%
• Active inventory: 67
• Price-to-rent: 25.5×

Monthly cashflow live

• Estimated rent: $3,985 high
• Mortgage (P&I): −$2,045
• Tax est. 1.5%: −$488 /mo · $5,850/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$837
• Net cashflow: $453

Break-even live

Break-even rent $3,412

Max offer price $390,000

Occupancy floor 84%

Sensitivity live

Price	-10% $722	-5% $588	+0% $453	+5% $318	+10% $183
Rent	-10% $138	-5% $296	+0% $453	+5% $610	+10% $768
Rate	-1.0pp $649	-0.5pp $552	base $453	+0.5pp $352	+1.0pp $249

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,550
1× unit	3	1	$1,435
Total (3 units)			$3,985

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: $97,500
• Closing costs: $11,700
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $390,000 Active 6 DOM
2. 2026-06-17
   days on market $390,000 Active 5 DOM
3. 2026-06-16
   days on market $390,000 Active 4 DOM
4. 2026-06-15
   days on market $390,000 Active 3 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $390,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $47,820
• − Mortgage interest: −$21,846
• − Property taxes: −$5,850
• − Insurance: −$1,950
• − Repairs & maintenance: −$3,826
• − Management: −$3,826
• − Depreciation: −$11,345
• Taxable loss: −$823
• Est. tax savings @ 24.0%: +$197
• After-tax cash flow: $5,633/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.

Condition & rehab AI · 6 photos

Fair 45/100 Moderate rehab

This 3-unit multifamily property requires moderate repairs and maintenance, particularly in landscaping and exterior painting, to improve its resale and rental value.

Repairs flagged

• Major Landscaping — Overgrown and unkempt
• Moderate Exterior paint — Brick facade shows weathering
• Minor Fencing — Slight wear

Value-add opportunities

• Both Landscaping and exterior painting — Enhances curb appeal and property value
• Both Interior updates — Improves living conditions and rental appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Landscaping · Overgrown and unkempt	Major	$15,000–50,000
Exterior paint · Brick facade shows weathering	Moderate	$3,000–15,000
Fencing · Slight wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$18,500–68,000

Value-add ROI direction

• Both Landscaping and exterior painting — Enhances curb appeal and property value ↑
• Both Interior updates — Improves living conditions and rental appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 8,630
• Household income: $27,852
• Rent vs Own: 76.1% rent · 23.9% own
• Severe rent burden: 857.0

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 Black (63%)
• Race & ethnicity: Black 63% White 27% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% 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: ▲ 15.01%
• Current HPI: 433.2346
• Rent YoY: ▲ 8.09%
• 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

• 2026-06-12 Listed $390,000 Cincy MLS