837 Hutchins Ave · Cincinnati, OH 45229

$260,000

6 bd · 3.0 ba · 2,784 sqft · MultiFamily public records · 63 Days on market

Built 1890 7,275 sqft lot Est $195k · 33% over

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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 +29.1/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Livability +4.0/5.0
• Rent growth +3.9/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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

Fantastic opportunity! 3 2bedroom units and 1 1bedroom. Utilities are separate to each unit. Great income ability, ready to rehab.

Key facts

• Strong rental pool
• 7,275 sq ft lot
• 4 parking spots

Tags

• INVESTOR SPECIAL TRIPLEX
• SOLID BRICK STRUCTURE
• HIGH-INCOME PRODUCING RENTAL
• STRONG RENTAL POOL

Property features AI

Finance

• Financial info: Property is a 3-unit income building; Two 2-bedroom units rented at $1,200 each; One 3-bedroom unit rented at $1,500; Currently listed as vacant

Exterior

• Parking: 4 open parking spaces; Concrete driveway; Off-street parking; On-street parking; Private parking areas; Gravel parking
• Utilities: Public water; Public sewer; Natural gas
• Home design: Triplex; Three+ levels; Faces Reading Road vicinity
• Construction: Stone foundation; Stone and brick exterior; Shingle roof
• Exterior features: Front porch; Metal fence; Busline nearby; Handyman special

Interior

• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 2 bedrooms; Unit 3: 2 bedrooms
• Bathrooms: Unit 1: 2 full bathrooms; Unit 2: 1 full bathroom; Unit 3: 1 full bathroom
• Heating & cooling: Forced air heating (gas); Window unit cooling; Tenants pay heat
• Interior features: Full basement; Individual laundry; Smoke alarm; Dehumidifier; Spiral staircase
• Laundry & utility: Individual laundry (on-site); Separate furnace for units; Separate A/C for units; Separate gas/electric for units

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.3-bath units multifamily listed at $260k.

Deal economics

• At list price, monthly cash flow is $901 ($11k/yr) — positive. Per door: $300/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Recommended offer: $244k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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.
• Zoned schools: Sands Montessori School (math 70% / reading 77%, grade A, #311 of 1,584 statewide, top 20%, 683 students, 22% FRL); Hartwell School (math 17% / reading 31%, grade F, #593 of 654 statewide, top 91%, 447 students, 0% FRL); Walnut Hills High School (math 79% / reading 89%, grade A, #17 of 781 statewide, top 2%, 2,582 students, 14% FRL) — zoned schools average 12% FRL vs 70% district-wide (59 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 60% at this address vs 30% district-wide (+30 pts) — the actual schools serving this property are materially stronger than the Cincinnati Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.5%/yr); 49 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $3,342/mo this rent would consume 124% of the median local household income ($32k/yr) (locally 1730% 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 $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $73k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($244k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y ago; this cycle's ask has dropped $15k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $1k; list at $260k implies a 25900% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $244,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% 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 1890 — 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: 1.29% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.85%
• DSCR: 1.66
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $194,880
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
988 Cleveland Ave	0.22mi	5/— (-1)	2,797 (+0%)	10mo	$195,000	$70	76
848 Windham Ave	0.13mi	5/3.0 (-1)	2,752 (-1%)	24mo	$289,000	$105	67
844 Windham Ave	0.14mi	5/2.5 (-1)	2,487 (-11%)	7mo	$241,000	$97	63
3322 Perkins Ave	0.34mi	6/3.0	3,080 (+11%)	21mo	$82,000	$27	49
518 Forest Ave	0.49mi	6/—	3,028 (+9%)	19mo	$167,400	$55	47
571 Blair Ave	0.47mi	7/3.0 (+1)	3,092 (+11%)	10mo	$240,000	$78	46
521 Carplin Pl	0.67mi	5/3.0 (-1)	3,037 (+9%)	11mo	$88,500	$29	40
1560 Dixmont Ave	0.73mi	6/2.0	2,506 (-10%)	19mo	$107,250	$43	29

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 · 5.55% rent growth · sell at horizon

5-year hold

• IRR: 8.2%
• Equity multiple: 1.33×
• Total profit: $24,070
• Equity at exit: $38,767

10-year hold

• IRR: 19.5%
• Equity multiple: 2.83×
• Total profit: $132,942
• Equity at exit: $22,480

Cash invested: $72,800 (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 45229

• Home prices YoY: -24.0%
• Rents YoY: 5.5%
• Active inventory: 49
• Price-to-rent: 19.4×

Monthly cashflow live

• Estimated rent: $3,342 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$267 /mo · $3,207/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$702
• Net cashflow: $901

Break-even live

Break-even rent $2,201

Max offer price $260,000

Occupancy floor 68%

Sensitivity live

Price	-10% $1,048	-5% $975	+0% $901	+5% $828	+10% $754
Rent	-10% $637	-5% $769	+0% $901	+5% $1,033	+10% $1,165
Rate	-1.0pp $1,032	-0.5pp $967	base $901	+0.5pp $834	+1.0pp $765

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.3	$3,342
Total (3 units)			$3,342

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3028 Gilbert Ave Cincinnati, OH	5.0	1.5	1936	$1,700	$0.88	22d	1	0.69mi
1768 Williams Ave Cincinnati, OH	6.0	3.0	2594	$3,000	$1.16	46d	1	1.26mi

Listing history 31 events

1. 2026-06-21
   days on market $260,000 Active 63 DOM
2. 2026-06-18
   days on market $260,000 Active 60 DOM
3. 2026-06-17
   days on market $260,000 Active 59 DOM
4. 2026-06-16
   days on market $260,000 Active 58 DOM
5. 2026-06-15
   days on market $260,000 Active 57 DOM
6. 2026-06-13
   days on market $260,000 Active 55 DOM
7. 2026-06-13
   days on market $260,000 Active 54 DOM
8. 2026-06-09
   days on market $260,000 Active 51 DOM
9. 2026-06-08
   days on market $260,000 Active 50 DOM
10. 2026-06-07
    days on market $260,000 Active 49 DOM
11. 2026-06-03
    days on market $260,000 Active 45 DOM
12. 2026-06-02
    days on market $260,000 Active 44 DOM
13. 2026-06-01
    days on market $260,000 Active 43 DOM
14. 2026-05-31
    days on market $260,000 Active 42 DOM
15. 2026-04-30
    price $260,000
16. 2026-04-19
    listed $275,000 Active
17. 2016-03-17
    soldstatus $1,000 Sold 130-char remark

    Show marketing remark (130 chars)

    Fantastic opportunity! 3 2bedroom units and 1 1bedroom. Utilities are separate to each unit. Great income ability, ready to rehab.

18. 2016-03-15
    historical Accept Backup Offers 130-char remark

    Show marketing remark (130 chars)

    Fantastic opportunity! 3 2bedroom units and 1 1bedroom. Utilities are separate to each unit. Great income ability, ready to rehab.

19. 2015-12-02
    listed $24,000 Active 130-char remark

    Show marketing remark (130 chars)

    Fantastic opportunity! 3 2bedroom units and 1 1bedroom. Utilities are separate to each unit. Great income ability, ready to rehab.

20. 2015-11-22
    historical
21. 2015-10-08
    status Active
22. 2015-09-04
    historical Accept Backup Offers
23. 2015-07-02
    status Active
24. 2015-06-23
    historical Accept Backup Offers
25. 2015-05-27
    listed $24,000 Active
26. 2015-04-03
    historical
27. 2015-03-17
    soldstatus $7,000 Sold
28. 2015-02-13
    status Pending
29. 2014-11-11
    listed $9,900 Active
30. 2006-04-28
    soldstatus $137,500
31. 2002-05-30
    soldstatus $65,000

ⓘ 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: $3,207 · $267/mo
• Projected year-2 tax: $3,631 · $303/mo
• Expected delta: +$425/yr (+$35/mo · 13.2%)

ⓘ 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 4/10 Moderate 7 d/yr ≥103°F today · 18 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: $40,104
• − Mortgage interest: −$14,564
• − Property taxes: −$3,207
• − Insurance: −$1,300
• − Repairs & maintenance: −$3,208
• − Management: −$3,208
• − Depreciation: −$7,564
• Taxable income: $7,053
• Est. tax owed @ 24.0%: −$1,693
• After-tax cash flow: $9,121/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): 13,529
• Household income: $32,263
• Rent vs Own: 69.4% rent · 30.6% own
• Severe rent burden: 1730.0

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 (65%)
• Race & ethnicity: Black 65% White 24% Two or more races 5% Hispanic / Latino 4% Asian 1%
• Common ancestry: Italian 2% Iranian 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 4% Russian/Polish/Slavic 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: ▼ -80.34%
• Current HPI: 254.492
• Rent YoY: ▲ 5.55%
• 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

+300.0% since first listed

17 events — show timeline

• 2026-04-30 Price Changed $260,000 Cincy MLS
• 2026-04-19 Listed $275,000 Cincy MLS
• 2016-03-17 Sold (MLS) $1,000 Cincy MLS
• 2016-03-15 Contingent — Cincy MLS
• 2015-12-02 Listed $24,000 Cincy MLS
• 2015-11-22 Listing Removed — Cincy MLS
• 2015-10-08 Relisted — Cincy MLS
• 2015-09-04 Contingent — Cincy MLS
• 2015-07-02 Relisted — Cincy MLS
• 2015-06-23 Contingent — Cincy MLS
• 2015-05-27 Listed $24,000 Cincy MLS
• 2015-04-03 Listing Removed — Cincy MLS
• 2015-03-17 Sold (MLS) $7,000 Cincy MLS
• 2015-02-13 Pending — Cincy MLS
• 2014-11-11 Listed $9,900 Cincy MLS
• 2006-04-28 Sold (Public Records) $137,500 Public Records
• 2002-05-30 Sold (Public Records) $65,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $3,207 · +0.1% YoY. Source: county tax records.