2503 Rack Ct · Cincinnati, OH 45239

$230,000

4 bd · 2.0 ba · 1,820 sqft · MultiFamily public records · 29 Days on market

Built 1956 8,930 sqft lot Est $229k · at est.

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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 +15.3/30.0
• ARV discount +7.4/15.0
• DSCR +4.7/10.0
• 1% rule +4.3/10.0
• Rent growth +4.0/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Investors who want reliable passive income: Very well kept brick duplex in a cul-de-sac. Two 2/1 units. Few blocks from Colerain Ave, North College Hill, Northgate Mall, lots of shopping. Units have separate furnaces(newer), gas & electric. Both units are occupied with reliable tenants paying $950/month, leases end in September. Market rent in the area is up to $1,300/month. Opportunity to acquire a fully occupied rental property making about $2,000/month. Start making passive income! Sold as-is

Key facts

• 8,930 sq ft lot
• Built 1956
• Listed 28 days

Property features AI

Finance

• Other: Total buildings: 1; Semi-annual tax amount provided (financial specifics omitted from features)
• Financial info: Two total units; Both units are 2-bedroom; listed rents shown as $1,150 and $1,095; Listed 2-bedroom rent noted as $1,100 (market reference)
• HOA & community: No HOA information provided

Exterior

• Parking: Attached front garage; Off-street parking, on-street parking and driveway parking available
• Security: No security features provided
• Utilities: Public water; Public sewer; Natural gas
• Home design: Duplex; Two levels; Front-entry attached garage
• Construction: Brick construction; Poured foundation; Shingle roof; Second floor area approximately 910 (unit or floor figure provided)
• Exterior features: Vinyl windows; Lot of about 0.205 acres

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Two 2-bedroom units (each unit has 2 bedrooms)
• Flooring: No flooring details provided
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Gas heating; Central air conditioning
• Interior features: Full basement
• Laundry & utility: No laundry or utility room details provided

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $230k.

Deal economics

• At list price, monthly cash flow is $30 ($362/yr) — positive. Per door: $15/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 $213k (7.3% below list).
• Recommended offer: $213k (7.3% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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 (+6.0%/yr); 57 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• This rent runs 42% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 20y 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 $190k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $213,100 (7.3% 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 1956 — 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. 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: 0.93% ✗
• Cap rate: 6.74%
• Cash-on-cash: 1.60%
• DSCR: 1.07
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $229,320
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2520 Airy Ct	0.06mi	4/2.0	1,820 (0%)	9mo	$230,000	$126	90
2516 Airy Ct	0.05mi	4/2.0	1,820 (0%)	12mo	$233,000	$128	88
2532 Rack Ct	0.09mi	4/2.0	1,820 (0%)	16mo	$215,000	$118	82

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 · 6.0% rent growth · sell at horizon

5-year hold

• IRR: -11.9%
• Equity multiple: 0.56×
• Total profit: $-28,652
• Equity at exit: $34,294

10-year hold

• IRR: 1.3%
• Equity multiple: 1.10×
• Total profit: $6,730
• Equity at exit: $19,886

Cash invested: $64,400 (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 45239

• Home prices YoY: -32.8%
• Rents YoY: 6.0%
• Active inventory: 57
• Price-to-rent: 18.0×

Monthly cashflow live

• Estimated rent: $2,131 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$296 /mo · $3,550/yr
• Insurance: −$96
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $30

Break-even live

Break-even rent $2,093

Max offer price $230,000

Occupancy floor 94%

Sensitivity live

Price	-10% $160	-5% $95	+0% $30	+5% $-35	+10% $-100
Rent	-10% $-138	-5% $-54	+0% $30	+5% $114	+10% $199
Rate	-1.0pp $146	-0.5pp $89	base $30	+0.5pp $-29	+1.0pp $-90

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,130
Total (2 units)			$2,131

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5339 Fox Rd Cincinnati, OH	3.0	2.0	1285	$1,300	$1.01	6d	1	1.07mi
1805 Emerson Ave Cincinnati, OH	3.0	1.0	1912	$1,550	$0.81	25d	1	1.19mi
6834 Betts Ave Cincinnati, OH	4.0	1.5	1426	$1,695	$1.19	25d	1	1.36mi
6800 Cheviot Rd Cincinnati, OH	3.0	2.0	1456	$2,000	$1.37	0d	1	1.46mi
3072 Hoock Ct Cincinnati, OH	4.0	2.5	1892	$2,531	$1.34	0d	1	1.47mi

Listing history 39 events

1. 2026-06-21
   days on market $230,000 Active 29 DOM
2. 2026-06-18
   days on market $230,000 Active 26 DOM
3. 2026-06-17
   days on market $230,000 Active 25 DOM
4. 2026-06-16
   days on market $230,000 Active 24 DOM
5. 2026-06-15
   days on market $230,000 Active 23 DOM
6. 2026-06-13
   days on market $230,000 Active 21 DOM
7. 2026-06-13
   days on market $230,000 Active 20 DOM
8. 2026-06-09
   days on market $230,000 Active 17 DOM
9. 2026-06-08
   days on market $230,000 Active 16 DOM
10. 2026-06-07
    days on market $230,000 Active 15 DOM
11. 2026-06-03
    days on market $230,000 Active 11 DOM
12. 2026-06-02
    days on market $230,000 Active 10 DOM
13. 2026-06-01
    days on market $230,000 Active 9 DOM
14. 2026-05-31
    days on market $230,000 Active 8 DOM
15. 2026-05-22
    listed $230,000 Active
16. 2024-04-03
    historical $1,100
17. 2024-03-13
    listed $1,100
18. 2023-09-13
    price $190,000 504-char remark

    Show marketing remark (504 chars)

    Investors who want reliable passive income: Very well kept brick duplex in a cul-de-sac. Two 2/1 units. Few blocks from Colerain Ave, North College Hill, Northgate Mall, lots of shopping. Units have separate furnaces(newer), gas & electric. Both units are occupied with reliable tenants paying $950/month, leases end in September. Market rent in the area is up to $1,300/month. Opportunity to acquire a fully occupied rental property making about $2,000/month. Start making passive income! Sold as-is

19. 2023-08-14
    historical
20. 2023-04-21
    soldstatus $190,000 Closed 504-char remark

    Show marketing remark (504 chars)

    Investors who want reliable passive income: Very well kept brick duplex in a cul-de-sac. Two 2/1 units. Few blocks from Colerain Ave, North College Hill, Northgate Mall, lots of shopping. Units have separate furnaces(newer), gas & electric. Both units are occupied with reliable tenants paying $950/month, leases end in September. Market rent in the area is up to $1,300/month. Opportunity to acquire a fully occupied rental property making about $2,000/month. Start making passive income! Sold as-is

21. 2023-04-05
    status Pending 504-char remark

    Show marketing remark (504 chars)

    Investors who want reliable passive income: Very well kept brick duplex in a cul-de-sac. Two 2/1 units. Few blocks from Colerain Ave, North College Hill, Northgate Mall, lots of shopping. Units have separate furnaces(newer), gas & electric. Both units are occupied with reliable tenants paying $950/month, leases end in September. Market rent in the area is up to $1,300/month. Opportunity to acquire a fully occupied rental property making about $2,000/month. Start making passive income! Sold as-is

22. 2023-03-31
    price $204,900 504-char remark

    Show marketing remark (504 chars)

    Investors who want reliable passive income: Very well kept brick duplex in a cul-de-sac. Two 2/1 units. Few blocks from Colerain Ave, North College Hill, Northgate Mall, lots of shopping. Units have separate furnaces(newer), gas & electric. Both units are occupied with reliable tenants paying $950/month, leases end in September. Market rent in the area is up to $1,300/month. Opportunity to acquire a fully occupied rental property making about $2,000/month. Start making passive income! Sold as-is

23. 2023-03-20
    status Active 504-char remark

    Show marketing remark (504 chars)

    Investors who want reliable passive income: Very well kept brick duplex in a cul-de-sac. Two 2/1 units. Few blocks from Colerain Ave, North College Hill, Northgate Mall, lots of shopping. Units have separate furnaces(newer), gas & electric. Both units are occupied with reliable tenants paying $950/month, leases end in September. Market rent in the area is up to $1,300/month. Opportunity to acquire a fully occupied rental property making about $2,000/month. Start making passive income! Sold as-is

24. 2023-02-11
    status Pending 504-char remark

    Show marketing remark (504 chars)

    Investors who want reliable passive income: Very well kept brick duplex in a cul-de-sac. Two 2/1 units. Few blocks from Colerain Ave, North College Hill, Northgate Mall, lots of shopping. Units have separate furnaces(newer), gas & electric. Both units are occupied with reliable tenants paying $950/month, leases end in September. Market rent in the area is up to $1,300/month. Opportunity to acquire a fully occupied rental property making about $2,000/month. Start making passive income! Sold as-is

25. 2023-02-09
    listed $204,900 Active 504-char remark

    Show marketing remark (504 chars)

    Investors who want reliable passive income: Very well kept brick duplex in a cul-de-sac. Two 2/1 units. Few blocks from Colerain Ave, North College Hill, Northgate Mall, lots of shopping. Units have separate furnaces(newer), gas & electric. Both units are occupied with reliable tenants paying $950/month, leases end in September. Market rent in the area is up to $1,300/month. Opportunity to acquire a fully occupied rental property making about $2,000/month. Start making passive income! Sold as-is

26. 2022-09-06
    soldstatus $180,000
27. 2022-08-29
    soldstatus $160,000 Sold 251-char remark

    Show marketing remark (251 chars)

    **ATTENION INVESTORS**Very well kept property being sold as is. Brick 2 family in cul-de-sac. 1 unit is occupied wit m2m tenant, 1st floor unit available for viewing . Each unit has separate furnaces/gas & electric. DO NOT MISS THIS OPPORTUNITY!!

28. 2022-07-31
    historical Contingency Pending 251-char remark

    Show marketing remark (251 chars)

    **ATTENION INVESTORS**Very well kept property being sold as is. Brick 2 family in cul-de-sac. 1 unit is occupied wit m2m tenant, 1st floor unit available for viewing . Each unit has separate furnaces/gas & electric. DO NOT MISS THIS OPPORTUNITY!!

29. 2022-07-26
    status Active 251-char remark

    Show marketing remark (251 chars)

    **ATTENION INVESTORS**Very well kept property being sold as is. Brick 2 family in cul-de-sac. 1 unit is occupied wit m2m tenant, 1st floor unit available for viewing . Each unit has separate furnaces/gas & electric. DO NOT MISS THIS OPPORTUNITY!!

30. 2022-07-25
    historical 251-char remark

    Show marketing remark (251 chars)

    **ATTENION INVESTORS**Very well kept property being sold as is. Brick 2 family in cul-de-sac. 1 unit is occupied wit m2m tenant, 1st floor unit available for viewing . Each unit has separate furnaces/gas & electric. DO NOT MISS THIS OPPORTUNITY!!

31. 2022-07-20
    price $170,000 251-char remark

    Show marketing remark (251 chars)

    **ATTENION INVESTORS**Very well kept property being sold as is. Brick 2 family in cul-de-sac. 1 unit is occupied wit m2m tenant, 1st floor unit available for viewing . Each unit has separate furnaces/gas & electric. DO NOT MISS THIS OPPORTUNITY!!

32. 2022-07-02
    price $180,000 251-char remark

    Show marketing remark (251 chars)

    **ATTENION INVESTORS**Very well kept property being sold as is. Brick 2 family in cul-de-sac. 1 unit is occupied wit m2m tenant, 1st floor unit available for viewing . Each unit has separate furnaces/gas & electric. DO NOT MISS THIS OPPORTUNITY!!

33. 2022-06-22
    listed $190,000 Active 251-char remark

    Show marketing remark (251 chars)

    **ATTENION INVESTORS**Very well kept property being sold as is. Brick 2 family in cul-de-sac. 1 unit is occupied wit m2m tenant, 1st floor unit available for viewing . Each unit has separate furnaces/gas & electric. DO NOT MISS THIS OPPORTUNITY!!

34. 2012-04-30
    historical
35. 2011-07-05
    listed $74,900
36. 2006-10-27
    historical
37. 2006-04-26
    listed $104,900
38. 1996-01-03
    soldstatus $70,000
39. 1994-07-19
    soldstatus $57,900

ⓘ 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: $3,550 · $296/mo
• Projected year-2 tax: $3,569 · $297/mo
• Expected delta: +$19/yr (+$2/mo · 0.5%)

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

Climate risk First Street

• 🌊 Flood 7/10 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,572
• − Mortgage interest: −$12,884
• − Property taxes: −$3,550
• − Insurance: −$1,816
• − Repairs & maintenance: −$2,046
• − Management: −$2,046
• − Depreciation: −$6,691
• Taxable loss: −$3,460
• Est. tax savings @ 24.0%: +$830
• After-tax cash flow: $1,192/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): 29,607
• Household income: $60,324
• Rent vs Own: 40.7% rent · 59.3% own
• Severe rent burden: 1566.0

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 0.63)
• Race & ethnicity: White 50% Black 35% Two or more races 8% Hispanic / Latino 4% Asian 4%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 4% · India, Canada
• Languages at home: 93% English-only · Other Indo-European 3% 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: ▼ -114.46%
• Current HPI: 234.6033
• Rent YoY: ▲ 6.00%
• 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

+297.2% since first listed

25 events — show timeline

• 2026-05-22 Listed $230,000 Cincy MLS
• 2024-04-03 Rental Removed $1,100 APPFOLIO
• 2024-03-13 Listed for Rent $1,100 APPFOLIO
• 2023-09-13 Price Changed $190,000 Cincy MLS
• 2023-08-14 Rental Removed — APPFOLIO
• 2023-04-21 Sold (MLS) $190,000 Cincy MLS
• 2023-04-05 Pending — Cincy MLS
• 2023-03-31 Price Changed $204,900 Cincy MLS
• 2023-03-20 Relisted — Cincy MLS
• 2023-02-11 Pending — Cincy MLS
• 2023-02-09 Listed $204,900 Cincy MLS
• 2022-09-06 Sold (Public Records) $180,000 Public Records
• 2022-08-29 Sold (MLS) $160,000 Cincy MLS
• 2022-07-31 Contingent — Cincy MLS
• 2022-07-26 Relisted — Cincy MLS
• 2022-07-25 Listing Removed — Cincy MLS
• 2022-07-20 Price Changed $170,000 Cincy MLS
• 2022-07-02 Price Changed $180,000 Cincy MLS
• 2022-06-22 Listed $190,000 Cincy MLS
• 2012-04-30 Listing Removed — Cincy MLS
• 2011-07-05 Listed $74,900 Cincy MLS
• 2006-10-27 Listing Removed — Cincy MLS
• 2006-04-26 Listed $104,900 Cincy MLS
• 1996-01-03 Sold (Public Records) $70,000 Public Records
• 1994-07-19 Sold (Public Records) $57,900 Public Records

Property tax history

+3.3%/yr

Latest (2025): $3,550 · +0.1% YoY. Source: county tax records.