4925 Ralph Ave · Cincinnati, OH 45238

$299,900

5 bd · 2.5 ba · 2,200 sqft · MultiFamily public records · 60 Days on market

Built 1928 6,795 sqft lot Est $224k · 34% over

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Why this score? — see what drove the D- 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 +14.8/30.0
• DSCR +4.5/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• Rent growth +3.7/5.0
• 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: 2 units. confirmed

Listing remarks

Stately and Solid full brick 2 family on gorgeous tree lined street in the heart of the Covedale Garden District! Meticulously maintained and updated thruout! 2 car garage w/ elec & new floor! Newer windows / Composite decks / Newer Vinyl railings and dormers! Roof approx 5 years / all knob & tube & cast iron replaced! New box gutters! New Chimney liners & chimney crown/cap! 1 bedroom apartment on first floor and 3 bedrooms on 2nd/3rd floor plus extra study on 3rd floor! Refin hardwood floors & carpet! Newer water heaters & Separate furnaces! Glass Block! 2 garage door openers and Full front porches for both units!

Key facts

• New vinyl railings
• Full brick
• New box gutters

Tags

• FULL BRICK
• 2 CAR GARAGE
• NEWER WINDOWS
• COMPOSITE DECKS
• NEW VINYL RAILINGS
• NEW BOX GUTTERS

Property features AI

Finance

• Other: Total buildings on site: 1
• Financial info: Two rental units total: a 1-bedroom (approx. 900) renting for $825 and a 3+ bedroom (approx. 1,350) renting for $1,400; First-floor unit is occupied month-to-month; second unit vacant

Exterior

• Parking: Detached 2-car garage; Approximately 4 open parking spaces; Parking includes garage and lot spaces
• Utilities: Public water; Public sewer; Natural gas
• Home design: Duplex; Three or more levels; Zoned for multi-family
• Construction: Brick construction; Shingle roof; Poured foundation; Windows with vinyl frames; Built in multiple levels
• Exterior features: Deck; Porch; Two fireplaces; Lot dimensions approximately 50 x 135

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: One 1-bedroom unit; One 3+ bedroom unit
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Forced air gas heating; Window unit cooling; Heat paid by tenant; Owner pays water
• Interior features: Full basement; Two fireplaces (gas; one inoperable); Second floor area listed separately
• Laundry & utility: Separate furnace for units; Gas service separate for units

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $81 ($974/yr) — positive. Per door: $41/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $268k (10.7% below list).
• Recommended offer: $268k (10.7% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: Roberts Academy (math 16% / reading 22%, grade F, #1,320 of 1,584 statewide, top 83%, 765 students, 0% 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 5% FRL vs 70% district-wide (66 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.9%/yr); 78 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $2,678/mo this rent would consume 48% of the median local household income ($66k/yr) (locally 2012% 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.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $65k; list at $300k implies a 361% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $267,800 (10.7% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 11% 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 1928 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.89% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.16%
• DSCR: 1.05
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $224,400
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5020 Sidney Rd	0.27mi	6/2.5 (+1)	2,106 (-4%)	9mo	$278,000	$132	67
1686 Kellywood Ave	0.26mi	4/2.0 (-1)	2,048 (-7%)	13mo	$262,500	$128	58
1136 Betty Ln	0.38mi	4/2.0 (-1)	2,402 (+9%)	8mo	$260,000	$108	53
5214 Sidney Rd	0.59mi	4/2.0 (-1)	2,214 (+1%)	16mo	$205,000	$93	51
1131 Rulison Ave	0.36mi	4/2.0 (-1)	2,321 (+6%)	20mo	$360,000	$155	51
1629 Pasadena Ave	0.64mi	6/2.0 (+1)	2,184 (-1%)	20mo	$58,000	$27	45
1155 Rulison Ave	0.31mi	5/2.0	1,904 (-14%)	22mo	$195,000	$102	43
5028 Rapid Run Rd	0.64mi	4/2.0 (-1)	2,090 (-5%)	21mo	$142,000	$68	37
1031 Lockman Ave	0.63mi	4/2.0 (-1)	2,369 (+8%)	23mo	$165,025	$70	32

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 · 4.87% rent growth · sell at horizon

5-year hold

• IRR: -12.4%
• Equity multiple: 0.54×
• Total profit: $-38,279
• Equity at exit: $44,716

10-year hold

• IRR: -0.8%
• Equity multiple: 0.94×
• Total profit: $-4,726
• Equity at exit: $25,930

Cash invested: $83,972 (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 45238

• Rents YoY: 4.9%
• Active inventory: 78
• Price-to-rent: 19.9×

Monthly cashflow live

• Estimated rent: $2,678 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$337 /mo · $4,042/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$562
• Net cashflow: $81

Break-even live

Break-even rent $2,575

Max offer price $299,900

Occupancy floor 92%

Sensitivity live

Price	-10% $251	-5% $166	+0% $81	+5% $-4	+10% $-89
Rent	-10% $-130	-5% $-25	+0% $81	+5% $187	+10% $293
Rate	-1.0pp $232	-0.5pp $157	base $81	+0.5pp $3	+1.0pp $-76

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,253
1× unit	3	1	$1,426
Total (2 units)			$2,678

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5408 Style Ln Cincinnati, OH	4.0	1.5	1824	$2,625	$1.44	3d	1	1.09mi
943 Rosemont Ave Cincinnati, OH	5.0	1.5	2132	$1,700	$0.80	18d	1	1.21mi
1311 Manss Ave Cincinnati, OH	4.0	1.0	1409	$1,295	$0.92	6d	1	1.29mi
905 Suire Ave Unit 2 Cincinnati, OH	4.0	1.0	1699	$1,400	$0.82	25d	1	1.31mi
1620 Minion Ave Cincinnati, OH	4.0	2.0	1845	$1,550	$0.84	22d	1	1.41mi
862 Academy Ave Unit 2 Cincinnati, OH	4.0	1.0	1627	$1,450	$0.89	18d	1	1.46mi

Listing history 19 events

1. 2026-06-21
   days on market $299,900 Active 60 DOM
2. 2026-06-18
   days on market $299,900 Active 57 DOM
3. 2026-06-17
   days on market $299,900 Active 56 DOM
4. 2026-06-16
   days on market $299,900 Active 55 DOM
5. 2026-06-15
   days on market $299,900 Active 54 DOM
6. 2026-06-13
   days on market $299,900 Active 52 DOM
7. 2026-06-13
   statusdays on market $299,900 Active 51 DOM
8. 2026-06-09
   days on market $299,900 Contingency Pending 48 DOM
9. 2026-06-08
   days on market $299,900 Contingency Pending 47 DOM
10. 2026-06-07
    days on market $299,900 Contingency Pending 46 DOM
11. 2026-06-03
    days on market $299,900 Contingency Pending 42 DOM
12. 2026-06-02
    statusdays on market $299,900 Contingency Pending 41 DOM
13. 2026-06-01
    days on market $299,900 Active 40 DOM
14. 2026-05-31
    days on market $299,900 Active 39 DOM
15. 2026-05-01
    status Active
16. 2026-04-30
    historical Contingency Pending
17. 2026-04-21
    listed $299,900 Active
18. 1988-08-31
    soldstatus $65,000
19. 1980-07-01
    soldstatus $52,000

ⓘ 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: $4,042 · $337/mo
• Projected year-2 tax: $4,360 · $363/mo
• Expected delta: +$318/yr (+$27/mo · 7.9%)

ⓘ 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 · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,136
• − Mortgage interest: −$16,799
• − Property taxes: −$4,042
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,571
• − Management: −$2,571
• − Depreciation: −$8,724
• Taxable loss: −$4,070
• Est. tax savings @ 24.0%: +$977
• After-tax cash flow: $1,951/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): 48,351
• Household income: $66,277
• Rent vs Own: 40.3% rent · 59.7% own
• Severe rent burden: 2012.0

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: Majority White (64%)
• Race & ethnicity: White 64% Black 28% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 10% · Canada
• Languages at home: 88% English-only · French/Haitian/Cajun 4% Spanish 2% German/W. Germanic 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: ▼ -197.57%
• Current HPI: 213.5097
• Rent YoY: ▲ 4.87%
• 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

+476.7% since first listed

5 events — show timeline

• 2026-05-01 Relisted — Cincy MLS
• 2026-04-30 Contingent — Cincy MLS
• 2026-04-21 Listed $299,900 Cincy MLS
• 1988-08-31 Sold (Public Records) $65,000 Public Records
• 1980-07-01 Sold (Public Records) $52,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $4,042 · +0.1% YoY. Source: county tax records.