2600 Melrose Ave · Cincinnati, OH 45206

$445,000

6 bd · 3.0 ba · 3,070 sqft · MultiFamily public records · 209 Days on market

Built 1914 6,534 sqft lot Est $491k · 9% 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 +30.0/30.0
• ARV discount +11.7/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• 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

FOR SALE: Renovated triplex apartment building situated on the corner of Melrose Ave and William Howard Taft. Incredible location in East Walnut Hills with numerous amenities in walking distance: Restaurants, bars, retail. One mile from University of Cincinnati and two miles from Xaivier University. Located on a city bus stop. The properties are side-by-side making maintenance and management efficient. East Walnut Hills has experienced a renaissance in the last several years due to its convenient location, architecture and diverse population. Tens of Millions of dollars has been invested over the last few years with no end in sight. Now is the time to invest before values rise! 2600 Melrose

Key facts

• Ready to be leased
• Numerous amenities
• New buyers finishes

Tags

• INCREDIBLE LOCATION
• NUMEROUS AMENITIES
• COMPLETELY RENOVATED
• READY TO BE LEASED
• NEW BUYERS FINISHES

Property features AI

Finance

• Other: Property located in Walnut Hills (cross street: William Howard Taft)
• Financial info: Six total rental units; Unit rents provided: Unit 1 - $1,300; Unit 2 - $1,200; Unit 3 - $930; Unit 4 - $1,300; Three 1-bedroom units (1-bedroom rent listed as $3 — likely placeholder/needs verification)
• HOA & community:

Exterior

• Parking: On-street parking and public parking
• Security:
• Utilities: Public water; Public sewer; Owner pays water; Tenants pay heat; Separate gas/electric meters for units
• Home design: Triplex (multi-unit property); Two buildings on the lot
• Construction: Shingle roof; Brick and wood siding exterior; Poured foundation
• Exterior features: Vinyl and wood windows; Lot approximately 0.15 acres

Interior

• Kitchen:
• Bedrooms: Six total units: three 1-bedroom units and three additional units (unit-level beds listed below); Unit 1: 2 bedrooms; Unit 2: 2 bedrooms; Unit 3: 1 bedroom; Unit 4: 2 bedrooms
• Flooring:
• Bathrooms: Each listed unit has 1 full bathroom
• Heating & cooling: Forced air heating (gas); Separate furnaces for units; Central air conditioning; Separate A/C for units; Natural gas service
• Interior features: Full basement; Brick fireplace (inoperable)
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $445k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $629/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $445k).
• Recommended offer: $392k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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 (+2.3%/yr); 67 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $5,794/mo this rent would consume 111% of the median local household income ($63k/yr) (locally 618% 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 $13k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.3% rent growth), your $125k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 209 days — a 12% lower offer ($392k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y ago; this cycle's ask has dropped $100k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $445k implies a 1680% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — 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 $391,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 209 days. Have you received any prior offers? Is the seller open to a 12% 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 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.30% ✓
• Cap rate: 11.38%
• Cash-on-cash: 18.17%
• DSCR: 1.81
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $491,200
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2612 Stanton Ave	0.10mi	7/3.0 (+1)	3,120 (+2%)	8mo	$276,000	$88	81
321 Helen St	0.73mi	5/— (-1)	3,070 (0%)	4mo	$490,000	$160	58
1357 Burdette Ave	0.54mi	6/3.0	3,170 (+3%)	23mo	$550,000	$174	50
2226 Kenton St	0.44mi	7/2.0 (+1)	3,426 (+12%)	2mo	$100,000	$29	49
2126 Alpine Pl	0.60mi	6/4.0	2,971 (-3%)	23mo	$515,000	$173	43
2228 Reading Rd	0.67mi	5/3.0 (-1)	2,640 (-14%)	8mo	$274,000	$104	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 · 2.33% rent growth · sell at horizon

5-year hold

• IRR: 9.1%
• Equity multiple: 1.35×
• Total profit: $44,018
• Equity at exit: $66,351

10-year hold

• IRR: 17.7%
• Equity multiple: 2.42×
• Total profit: $176,737
• Equity at exit: $38,475

Cash invested: $124,600 (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 45206

• Rents YoY: 2.3%
• Active inventory: 67
• Price-to-rent: 19.2×

Monthly cashflow live

• Estimated rent: $5,794 medium
• Mortgage (P&I): −$2,334
• Tax from tax record: −$172 /mo · $2,060/yr
• Insurance: −$185
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,217
• Net cashflow: $1,887

Break-even live

Break-even rent $3,406

Max offer price $445,000

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$5,793
Total (3 units)			$5,794

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: $111,250
• Closing costs: $13,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
258 Dorchester Ave Unit 1056079P Cincinnati, OH	6.0	3.0	3498	$7,661	$2.19	14d	1	1.12mi

Listing history 24 events

1. 2026-06-18
   days on market $445,000 Active 209 DOM
2. 2026-06-17
   days on market $445,000 Active 208 DOM
3. 2026-06-16
   days on market $445,000 Active 207 DOM
4. 2026-06-15
   days on market $445,000 Active 206 DOM
5. 2026-06-13
   days on market $445,000 Active 204 DOM
6. 2026-06-13
   days on market $445,000 Active 203 DOM
7. 2026-06-09
   pricedays on market $445,000 Active 200 DOM
8. 2026-06-08
   days on market $545,000 Active 199 DOM
9. 2026-06-07
   days on market $545,000 Active 198 DOM
10. 2026-06-03
    days on market $545,000 Active 194 DOM
11. 2026-06-02
    days on market $545,000 Active 193 DOM
12. 2026-06-01
    days on market $545,000 Active 192 DOM
13. 2026-05-31
    days on market $545,000 Active 191 DOM
14. 2026-04-10
    status Active
15. 2026-02-23
    historical Contingency Pending
16. 2025-11-20
    listed $545,000 Active
17. 2021-06-30
    soldstatus $25,000
18. 2019-12-08
    historical Contingency Pending
19. 2019-12-08
    historical
20. 2019-10-17
    price $110,000
21. 2019-09-06
    listed $140,000 Active
22. 2001-11-30
    historical
23. 2001-05-29
    listed $84,900
24. 1995-10-16
    soldstatus $34,000

ⓘ 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: $2,060 · $172/mo
• Projected year-2 tax: $4,501 · $375/mo
• Expected delta: +$2,441/yr (+$203/mo · 118.5%)

ⓘ 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: $69,528
• − Mortgage interest: −$24,927
• − Property taxes: −$2,060
• − Insurance: −$2,225
• − Repairs & maintenance: −$5,562
• − Management: −$5,562
• − Depreciation: −$12,945
• Taxable income: $16,246
• Est. tax owed @ 24.0%: −$3,899
• After-tax cash flow: $18,740/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): 10,299
• Household income: $62,648
• Rent vs Own: 63.0% rent · 37.0% own
• Severe rent burden: 618.0

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 0.61)
• Race & ethnicity: White 50% Black 37% Two or more races 8% Hispanic / Latino 4% Asian 3%
• Common ancestry: Slovak 2% Romanian 2% Iranian 1%
• Foreign-born: 4% · Vietnam, Canada
• Languages at home: 94% English-only · Spanish 2% Vietnamese 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: ▼ -200.07%
• Current HPI: 227.6837
• Rent YoY: ▲ 2.33%
• 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

+1502.9% since first listed

11 events — show timeline

• 2026-04-10 Relisted — Cincy MLS
• 2026-02-23 Contingent — Cincy MLS
• 2025-11-20 Listed $545,000 Cincy MLS
• 2021-06-30 Sold (Public Records) $25,000 Public Records
• 2019-12-08 Contingent — Cincy MLS
• 2019-12-08 Listing Removed — Cincy MLS
• 2019-10-17 Price Changed $110,000 Cincy MLS
• 2019-09-06 Listed $140,000 Cincy MLS
• 2001-11-30 Listing Removed — Cincy MLS
• 2001-05-29 Listed $84,900 Cincy MLS
• 1995-10-16 Sold (Public Records) $34,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $2,060 · +0.1% YoY. Source: county tax records.