2934 Glenway Ave · Cincinnati, OH 45204

$590,000

16 bd · 16.0 ba · — sqft · MultiFamily · 15 Days on market

Built 1961 6,142 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 +26.4/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• 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 (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

4 Family Easily Rented - Can Be Purchased With 2940 Glenway. Pitched Roof And Brick Construction. Contract Subject To Seller Bank Approval.

Key facts

• New fencing
• Modern kitchens
• Newly paved driveway

Tags

• AMPLE OFF-STREET PARKING
• NEWLY RENOVATED
• MODERN KITCHENS
• NEW SEWER LINE
• NEWLY PAVED DRIVEWAY
• NEW FENCING

Property features AI

Finance

• Other: Two buildings on the property
• Financial info: Total of 8 units; Typical 1-bedroom rent listed at $814; Individual rents shown: Unit 1 $860, Unit 2 $795, Unit 3 $845, Unit 4 $845; Lease information: see rent roll

Exterior

• Parking: Off-street parking lot with 8 open spaces
• Utilities: Public water (owner pays water); Public sewer; Natural gas
• Home design: Quad (multi-family) residence; Two levels
• Construction: Brick construction; Shingle roof; Poured foundation
• Exterior features: Wood fence; Corner lot; Busline nearby; Public transportation (metro)

Interior

• Bedrooms: Eight 1-bedroom units (individual unit levels not specified)
• Bathrooms: Each listed unit has 1 full bathroom
• Heating & cooling: Forced air gas heating; Window air conditioning units; Separate furnace and separate A/C for units; Separate gas and electric metering; Heat paid by tenants
• Interior features: Storage area; Full basement

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/?-bath units multifamily listed at $590k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $387/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $590k).
• Recommended offer: $581k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% 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: 33 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 $6,709/mo this rent would consume 258% of the median local household income ($31k/yr) (locally 487% 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 $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $165k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($581k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y 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 $115k; list at $590k implies a 413% gain — meaningful room to come down on a strong offer.

Recommended offer $581,150 (1.5% below list)

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. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.14% ✓
• Cap rate: 9.44%
• Cash-on-cash: 11.26%
• DSCR: 1.50
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 0.5%
• Equity multiple: 1.02×
• Total profit: $2,982
• Equity at exit: $87,971

10-year hold

• IRR: 10.1%
• Equity multiple: 1.78×
• Total profit: $129,268
• Equity at exit: $51,012

Cash invested: $165,200 (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 45204

• Home prices YoY: -21.2%
• Active inventory: 33
• Price-to-rent: 29.3×

Monthly cashflow live

• Estimated rent: $6,709 high
• Mortgage (P&I): −$3,094
• Tax from tax record: −$411 /mo · $4,929/yr
• Insurance: −$246
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,409
• Net cashflow: $1,549

Break-even live

Break-even rent $4,748

Max offer price $590,000

Occupancy floor 72%

Sensitivity live

Price	-10% $1,883	-5% $1,716	+0% $1,549	+5% $1,382	+10% $1,215
Rent	-10% $1,019	-5% $1,284	+0% $1,549	+5% $1,814	+10% $2,079
Rate	-1.0pp $1,847	-0.5pp $1,700	base $1,549	+0.5pp $1,397	+1.0pp $1,241

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	—	$6,708
Total (4 units)			$6,709

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: $147,500
• Closing costs: $17,700
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $590,000 Active 15 DOM
2. 2026-06-17
   days on market $590,000 Active 14 DOM
3. 2026-06-16
   days on market $590,000 Active 13 DOM
4. 2026-06-15
   days on market $590,000 Active 12 DOM
5. 2026-06-13
   days on market $590,000 Active 10 DOM
6. 2026-06-13
   days on market $590,000 Active 9 DOM
7. 2026-06-09
   days on market $590,000 Active 6 DOM
8. 2026-06-08
   days on market $590,000 Active 5 DOM
9. 2026-06-07
   days on market $590,000 Active 4 DOM
10. 2026-06-03
    remarks 687-char remark
11. 2026-06-03
    listed $590,000 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: $4,929 · $411/mo
• Projected year-2 tax: $7,067 · $589/mo
• Expected delta: +$2,137/yr (+$178/mo · 43.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $80,508
• − Mortgage interest: −$33,049
• − Property taxes: −$4,929
• − Insurance: −$2,950
• − Repairs & maintenance: −$6,441
• − Management: −$6,441
• − Depreciation: −$17,164
• Taxable income: $9,535
• Est. tax owed @ 24.0%: −$2,288
• After-tax cash flow: $16,305/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): 8,412
• Household income: $31,236
• Rent vs Own: 56.3% rent · 43.7% own
• Severe rent burden: 487.0

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 0.64)
• Race & ethnicity: White 44% Black 41% Two or more races 13% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Lithuanian 1% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 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: ▼ -43.12%
• Current HPI: 160.5953
• 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

+406.9% since first listed

12 events — show timeline

• 2026-06-02 Listed $590,000 Cincy MLS
• 2009-10-02 Sold (Public Records) $115,000 Public Records
• 2002-07-11 Sold (Public Records) $80,000 Public Records
• 2002-07-09 Sold (MLS) $80,000 Cincy MLS
• 2002-02-19 Listed $89,000 Cincy MLS
• 2001-10-29 Listing Removed — Cincy MLS
• 2001-04-06 Listed $99,900 Cincy MLS
• 2001-04-05 Listing Removed — Cincy MLS
• 2001-01-04 Listed $98,000 Cincy MLS
• 1998-06-22 Sold (Public Records) $92,900 Public Records
• 1987-12-31 Sold (Public Records) $64,000 Public Records
• 1986-04-01 Sold (Public Records) $116,400 Public Records

Property tax history

+11.1%/yr

Latest (2025): $4,929 · +0.7% YoY. Source: county tax records.