1409 Yarmouth Ave · Cincinnati, OH 45237

$300,000

4 bd · 3.0 ba · 3,246 sqft · MultiFamily public records · 52 Days on market

Built 1900 4,922 sqft lot Est $441k · 32% under

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Why this score? — see what drove the B- 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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +6.3/10.0
• Rent growth +4.2/5.0
• Livability +4.0/5.0
• 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: 3 units. confirmed

Listing remarks MLS

Turnkey investment with immediate cash flow! This well-maintained 3-unit multifamily property is 100% occupied with stable tenants, making it an excellent addition to any portfolio.

Key facts

• 4,922 sq ft lot
• 3 garage spots
• Built 1900

Property features AI

Exterior

• Parking: Detached or on-site garage with 3 garage spaces; 3 off-street open parking spaces; Off-street parking
• Utilities: Public water; Public sewer; Natural gas
• Home design: Triplex; Two levels; Poured foundation
• Construction: Brick construction; Shingle roof
• Exterior features: Casement windows

Interior

• Bedrooms: One 1-bedroom unit; One 2-bedroom unit; One 4-bedroom unit
• Bathrooms: Three full bathrooms (one in each unit)
• Heating & cooling: Forced-air gas heating; Central air conditioning
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $654 ($8k/yr) — positive. Per door: $218/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Recommended offer: $291k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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 (+6.6%/yr); 44 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 $3,387/mo this rent would consume 90% of the median local household income ($45k/yr) (locally 1467% 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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $84k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 30y 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 $175k; list at $300k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $291,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — 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: 1.13% ✓
• Cap rate: 8.91%
• Cash-on-cash: 9.34%
• DSCR: 1.42
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $441,456
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1219 Franklin Ave	0.19mi	4/—	2,764 (-15%)	6mo	$375,000	$136	62
4902 Paddock Rd	0.25mi	4/2.0	2,885 (-11%)	19mo	$179,000	$62	50

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 · 6.62% rent growth · sell at horizon

5-year hold

• IRR: 1.7%
• Equity multiple: 1.07×
• Total profit: $5,817
• Equity at exit: $44,731

10-year hold

• IRR: 14.6%
• Equity multiple: 2.37×
• Total profit: $115,268
• Equity at exit: $25,939

Cash invested: $84,000 (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 45237

• Home prices YoY: -33.0%
• Rents YoY: 6.6%
• Active inventory: 44
• Price-to-rent: 22.1×

Monthly cashflow live

• Estimated rent: $3,387 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$324 /mo · $3,887/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$711
• Net cashflow: $654

Break-even live

Break-even rent $2,560

Max offer price $300,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,387
Total (3 units)			$3,387

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-18
   days on market $300,000 Active 52 DOM
2. 2026-06-17
   days on market $300,000 Active 51 DOM
3. 2026-06-16
   days on market $300,000 Active 50 DOM
4. 2026-06-15
   days on market $300,000 Active 49 DOM
5. 2026-06-13
   days on market $300,000 Active 47 DOM
6. 2026-06-13
   days on market $300,000 Active 46 DOM
7. 2026-06-09
   days on market $300,000 Active 43 DOM
8. 2026-06-08
   days on market $300,000 Active 42 DOM
9. 2026-06-07
   days on market $300,000 Active 41 DOM
10. 2026-06-03
    days on market $300,000 Active 37 DOM
11. 2026-06-02
    days on market $300,000 Active 36 DOM
12. 2026-06-01
    days on market $300,000 Active 35 DOM
13. 2026-05-31
    days on market $300,000 Active 34 DOM
14. 2026-04-27
    listed $300,000 Active
15. 2026-04-21
    listed $700
16. 2026-03-16
    historical 182-char remark

    Show marketing remark (182 chars)

    Turnkey investment with immediate cash flow! This well-maintained 3-unit multifamily property is 100% occupied with stable tenants, making it an excellent addition to any portfolio.

17. 2025-09-17
    listed $300,000 Active 182-char remark

    Show marketing remark (182 chars)

    Turnkey investment with immediate cash flow! This well-maintained 3-unit multifamily property is 100% occupied with stable tenants, making it an excellent addition to any portfolio.

18. 2024-09-15
    historical $700
19. 2024-09-13
    listed $700
20. 2024-08-02
    historical $700
21. 2024-08-02
    listed $700
22. 2021-06-03
    soldstatus $175,000 Sold 480-char remark

    Show marketing remark (480 chars)

    Numbers Work Nicely! 3 unit Brick building- 3 apartments- 3 bedroom, 2 bedroom, 1 bedroom- separate furnace & central air (two newer furnaces & a/c compressors). Longer term tenants. New windows, well maintained & managed. $2175 income per month with opportunity to increase. 3 bedroom has private entry, One & Two bedroom has separate dedicated side stairway access. High performing Rental History, easy to lease, low maintenance building, Solid rental location.

23. 2021-03-28
    historical Contingency Pending 480-char remark

    Show marketing remark (480 chars)

    Numbers Work Nicely! 3 unit Brick building- 3 apartments- 3 bedroom, 2 bedroom, 1 bedroom- separate furnace & central air (two newer furnaces & a/c compressors). Longer term tenants. New windows, well maintained & managed. $2175 income per month with opportunity to increase. 3 bedroom has private entry, One & Two bedroom has separate dedicated side stairway access. High performing Rental History, easy to lease, low maintenance building, Solid rental location.

24. 2021-03-24
    listed $169,000 Active 480-char remark

    Show marketing remark (480 chars)

    Numbers Work Nicely! 3 unit Brick building- 3 apartments- 3 bedroom, 2 bedroom, 1 bedroom- separate furnace & central air (two newer furnaces & a/c compressors). Longer term tenants. New windows, well maintained & managed. $2175 income per month with opportunity to increase. 3 bedroom has private entry, One & Two bedroom has separate dedicated side stairway access. High performing Rental History, easy to lease, low maintenance building, Solid rental location.

25. 2019-05-17
    soldstatus $105,000
26. 2019-04-25
    soldstatus $105,000 Sold
27. 2019-04-02
    historical Accept Backup Offers
28. 2019-01-09
    price $115,000
29. 2018-11-30
    listed $125,000 Active
30. 1996-07-08
    soldstatus $70,000
31. 1996-07-03
    soldstatus $70,000
32. 1996-03-12
    listed $74,900

ⓘ 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: $3,887 · $324/mo
• Projected year-2 tax: $4,284 · $357/mo
• Expected delta: +$396/yr (+$33/mo · 10.2%)

ⓘ 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 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: $40,644
• − Mortgage interest: −$16,805
• − Property taxes: −$3,887
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,252
• − Management: −$3,252
• − Depreciation: −$8,727
• Taxable income: $3,222
• Est. tax owed @ 24.0%: −$773
• After-tax cash flow: $7,070/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): 20,903
• Household income: $44,913
• Rent vs Own: 52.3% rent · 47.7% own
• Severe rent burden: 1467.0

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: Predominantly Black (71%)
• Race & ethnicity: Black 71% White 22% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 2% Italian 1% Scotch-Irish 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -110.54%
• Current HPI: 224.4728
• Rent YoY: ▲ 6.62%
• 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

+300.5% since first listed

19 events — show timeline

• 2026-04-27 Listed $300,000 Cincy MLS
• 2026-04-21 Listed for Rent $700 CINCYMLS
• 2026-03-16 Listing Removed — Cincy MLS
• 2025-09-17 Listed $300,000 Cincy MLS
• 2024-09-15 Rental Removed $700 RENTALBEAST
• 2024-09-13 Listed for Rent $700 RENTALBEAST
• 2024-08-02 Rental Removed $700 CINCYMLS
• 2024-08-02 Listed for Rent $700 CINCYMLS
• 2021-06-03 Sold (MLS) $175,000 Cincy MLS
• 2021-03-28 Contingent — Cincy MLS
• 2021-03-24 Listed $169,000 Cincy MLS
• 2019-05-17 Sold (Public Records) $105,000 Public Records
• 2019-04-25 Sold (MLS) $105,000 Cincy MLS
• 2019-04-02 Contingent — Cincy MLS
• 2019-01-09 Price Changed $115,000 Cincy MLS
• 2018-11-30 Listed $125,000 Cincy MLS
• 1996-07-08 Sold (Public Records) $70,000 Public Records
• 1996-07-03 Sold (MLS) $70,000 Cincy MLS
• 1996-03-12 Listed $74,900 Cincy MLS

Property tax history

+14.7%/yr

Latest (2025): $3,887 · +0.1% YoY. Source: county tax records.