1209 W Galbraith Rd · Cincinnati, OH 45231

$699,900

100 bd · None ba · — sqft · MultiFamily · 28 Days on market

Built 1974 7,100 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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 (5+ Unit). Listing-text estimate: 10 units. confirmed

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

Ten unit brick apartment complex consisting of 9 one bed / one bath units and 1 large studio. Newer kitchens, baths, flooring, appliances, windows etc. TENANTS PAY HEAT AND ELECTRIC. Rents can be pushed.

Key facts

• 7,100 sq ft lot
• 8 garage spots
• Built 1974

Property features AI

Finance

• Financial info: 1-bedroom units rent listed at $850; Heat paid by tenants; Water paid by owner; Gas and electric expense listed as 3,180

Exterior

• Parking: Eight covered garage spaces; Eight open/off-street parking spaces
• Utilities: Public water; Public sewer
• Home design: Multi-family property; Three or more levels; Single building (ten units)
• Construction: Brick construction; Shingle roof; Poured foundation; Built with vinyl windows
• Exterior features: Busline nearby; Asphalt lot with off-street parking

Interior

• Bedrooms: Ten 1-bedroom units
• Heating & cooling: Baseboard heating (electric); Wall air-conditioning units; Separate furnaces and separate A/C for units; Separate gas and electric meters
• Interior features: Full basement; Coin laundry on site
• Laundry & utility: Coin laundry

What this means for you Summary

Snapshot

• This is a 10 × 1-bed/1-bath units multifamily listed at $700k.

Deal economics

• At list price, monthly cash flow is $4k ($53k/yr) — positive. Per door: $446/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $700k).
• Recommended offer: $689k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.0% 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 (+6.9%/yr); 85 active listings in the ZIP; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $11,890/mo this rent would consume 200% of the median local household income ($71k/yr) (locally 846% 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 $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.9% rent growth), your $196k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($689k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 27y 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 $360k; list at $700k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $689,401 (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 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.70% ✓
• Cap rate: 14.05%
• Cash-on-cash: 27.69%
• DSCR: 2.23
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.92% rent growth · sell at horizon

5-year hold

• IRR: 25.7%
• Equity multiple: 2.12×
• Total profit: $219,315
• Equity at exit: $104,357

10-year hold

• IRR: 35.8%
• Equity multiple: 4.95×
• Total profit: $774,182
• Equity at exit: $60,515

Cash invested: $195,972 (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 45231

• Rents YoY: 6.9%
• Active inventory: 85
• Price-to-rent: 49.1×

Monthly cashflow live

• Estimated rent: $11,890 high
• Mortgage (P&I): −$3,670
• Tax from tax record: −$910 /mo · $10,915/yr
• Insurance: −$292
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,497
• Net cashflow: $4,455

Break-even live

Break-even rent $6,251

Max offer price $699,900

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 10× units	1	1	$11,890
Total (10 units)			$11,890

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: $174,975
• Closing costs: $20,997
• Reserves months: —
• Total cash needed: —

Listing history 38 events

1. 2026-06-18
   days on market $699,900 Active 28 DOM
2. 2026-06-17
   days on market $699,900 Active 27 DOM
3. 2026-06-16
   days on market $699,900 Active 26 DOM
4. 2026-06-15
   days on market $699,900 Active 25 DOM
5. 2026-06-13
   days on market $699,900 Active 23 DOM
6. 2026-06-13
   days on market $699,900 Active 22 DOM
7. 2026-06-09
   days on market $699,900 Active 19 DOM
8. 2026-06-08
   days on market $699,900 Active 18 DOM
9. 2026-06-07
   days on market $699,900 Active 17 DOM
10. 2026-06-03
    days on market $699,900 Active 13 DOM
11. 2026-06-02
    days on market $699,900 Active 12 DOM
12. 2026-06-01
    days on market $699,900 Active 11 DOM
13. 2026-05-31
    days on market $699,900 Active 10 DOM
14. 2026-05-21
    listed $699,900 Active
15. 2019-10-04
    soldstatus $360,000 Sold 203-char remark

    Show marketing remark (203 chars)

    Ten unit brick apartment complex consisting of 9 one bed / one bath units and 1 large studio. Newer kitchens, baths, flooring, appliances, windows etc. TENANTS PAY HEAT AND ELECTRIC. Rents can be pushed.

16. 2019-08-08
    historical Contingency Pending 203-char remark

    Show marketing remark (203 chars)

    Ten unit brick apartment complex consisting of 9 one bed / one bath units and 1 large studio. Newer kitchens, baths, flooring, appliances, windows etc. TENANTS PAY HEAT AND ELECTRIC. Rents can be pushed.

17. 2019-07-12
    price $385,000 203-char remark

    Show marketing remark (203 chars)

    Ten unit brick apartment complex consisting of 9 one bed / one bath units and 1 large studio. Newer kitchens, baths, flooring, appliances, windows etc. TENANTS PAY HEAT AND ELECTRIC. Rents can be pushed.

18. 2019-07-11
    listed $375,000 Active 203-char remark

    Show marketing remark (203 chars)

    Ten unit brick apartment complex consisting of 9 one bed / one bath units and 1 large studio. Newer kitchens, baths, flooring, appliances, windows etc. TENANTS PAY HEAT AND ELECTRIC. Rents can be pushed.

19. 2017-07-14
    soldstatus $60,000
20. 2017-03-01
    soldstatus $160,000 Sold 280-char remark

    Show marketing remark (280 chars)

    Rare Opportunity! 10 Unit building in College Hill. Low maintenance and desirable unit floorplan. Tenant paid utilities. Located at busy intersection with high visibility. Just steps from the front door to busline. Close to retail, shops, interstate, and parks. LOTS of potential!

21. 2017-02-04
    historical Accept Backup Offers 280-char remark

    Show marketing remark (280 chars)

    Rare Opportunity! 10 Unit building in College Hill. Low maintenance and desirable unit floorplan. Tenant paid utilities. Located at busy intersection with high visibility. Just steps from the front door to busline. Close to retail, shops, interstate, and parks. LOTS of potential!

22. 2017-02-03
    status Active 280-char remark

    Show marketing remark (280 chars)

    Rare Opportunity! 10 Unit building in College Hill. Low maintenance and desirable unit floorplan. Tenant paid utilities. Located at busy intersection with high visibility. Just steps from the front door to busline. Close to retail, shops, interstate, and parks. LOTS of potential!

23. 2016-12-24
    historical Accept Backup Offers 280-char remark

    Show marketing remark (280 chars)

    Rare Opportunity! 10 Unit building in College Hill. Low maintenance and desirable unit floorplan. Tenant paid utilities. Located at busy intersection with high visibility. Just steps from the front door to busline. Close to retail, shops, interstate, and parks. LOTS of potential!

24. 2016-11-04
    listed $175,000 Active 280-char remark

    Show marketing remark (280 chars)

    Rare Opportunity! 10 Unit building in College Hill. Low maintenance and desirable unit floorplan. Tenant paid utilities. Located at busy intersection with high visibility. Just steps from the front door to busline. Close to retail, shops, interstate, and parks. LOTS of potential!

25. 2009-02-03
    historical
26. 2008-08-28
    listed $316,000
27. 2005-03-14
    soldstatus $270,000
28. 2004-11-23
    listed $274,900
29. 2003-12-17
    soldstatus $220,000
30. 2003-02-01
    historical
31. 2002-07-03
    listed $249,900
32. 2002-06-24
    historical
33. 2001-12-17
    listed $249,900
34. 2000-01-14
    soldstatus $210,000
35. 1999-12-15
    soldstatus $210,000
36. 1999-12-09
    soldstatus $210,000
37. 1999-04-12
    listed $234,000
38. 1985-11-21
    soldstatus $157,000

ⓘ 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: $10,915 · $910/mo
• Projected year-2 tax: $10,917 · $910/mo
• Expected delta: +$2/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 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: $142,680
• − Mortgage interest: −$39,205
• − Property taxes: −$10,915
• − Insurance: −$4,297
• − Repairs & maintenance: −$11,414
• − Management: −$11,414
• − Depreciation: −$20,361
• Taxable income: $45,073
• Est. tax owed @ 24.0%: −$10,817
• After-tax cash flow: $42,643/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
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 40,463
• Household income: $71,353
• Rent vs Own: 27.4% rent · 72.6% own
• Severe rent burden: 846.0

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 47% Black 40% Two or more races 8% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 1% Slovak 1% Iranian 1%
• Foreign-born: 5% · Canada, India
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -181.25%
• Current HPI: 228.2912
• Rent YoY: ▲ 6.92%
• 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

+345.8% since first listed

25 events — show timeline

• 2026-05-21 Listed $699,900 Cincy MLS
• 2019-10-04 Sold (MLS) $360,000 Cincy MLS
• 2019-08-08 Contingent — Cincy MLS
• 2019-07-12 Price Changed $385,000 Cincy MLS
• 2019-07-11 Listed $375,000 Cincy MLS
• 2017-07-14 Sold (Public Records) $60,000 Public Records
• 2017-03-01 Sold (MLS) $160,000 Cincy MLS
• 2017-02-04 Contingent — Cincy MLS
• 2017-02-03 Relisted — Cincy MLS
• 2016-12-24 Contingent — Cincy MLS
• 2016-11-04 Listed $175,000 Cincy MLS
• 2009-02-03 Listing Removed — Cincy MLS
• 2008-08-28 Listed $316,000 Cincy MLS
• 2005-03-14 Sold (MLS) $270,000 Cincy MLS
• 2004-11-23 Listed $274,900 Cincy MLS
• 2003-12-17 Sold (Public Records) $220,000 Public Records
• 2003-02-01 Listing Removed — Cincy MLS
• 2002-07-03 Listed $249,900 Cincy MLS
• 2002-06-24 Listing Removed — Cincy MLS
• 2001-12-17 Listed $249,900 Cincy MLS
• 2000-01-14 Sold (Public Records) $210,000 Public Records
• 1999-12-15 Sold (Public Records) $210,000 Public Records
• 1999-12-09 Sold (MLS) $210,000 Cincy MLS
• 1999-04-12 Listed $234,000 Cincy MLS
• 1985-11-21 Sold (Public Records) $157,000 Public Records

Property tax history

+7.9%/yr

Latest (2025): $10,915 · +0.7% YoY. Source: county tax records.