2904 S Colerain Ave · Cincinnati, OH 45225

$160,000

4 bd · 4.0 ba · 1,534 sqft · MultiFamily · 8 Days on market

Built 1900 2,614 sqft lot Est $250k · 36% under

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Why this score? — see what drove the A 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

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

Rare Opportunity in heart of Camp Washington. Mixed use property street level commercial space- store front and 4 residential units upstairs. The attic could be turned into an apartment as well. Building requires substantial exterior improvements and full mechanical reno making it ideal for a value add repositioning project. This space is sold as is - buyer to verify all information , zoning, room counts, configurations and development potential.

Key facts

• 2,614 sq ft lot
• Built 1900
• Listed 8 days

Property features AI

Finance

• Other: Lot roughly 0.06 acres (about 2,600 sq ft)
• Financial info: One building containing 4 units
• HOA & community: HOA details not specified

Exterior

• Parking: Public parking
• Security: Security details not specified
• Utilities: Public water; Public sewer; Gas available at street; Gas heating (listed under utilities)
• Home design: Quadruplex (multi-family); Three or more levels; Zoned for multi-family
• Construction: Membrane roof; Stone foundation
• Exterior features: Casement windows; Brick exterior

Interior

• Kitchen: Kitchens in each unit (details not specified)
• Bedrooms: Four 1-bedroom units
• Flooring: Flooring details not specified
• Bathrooms: Each unit has one full bathroom (4 total)
• Heating & cooling: Gas heating
• Interior features: Full basement; No fireplace
• Laundry & utility: Utility details not specified

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $3k ($39k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $160k).
• Cap rate 30.9% 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: 32 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $5,549/mo this rent would consume 327% of the median local household income ($20k/yr) (locally 1466% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 24y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 3.47% ✓
• Cap rate: 30.88%
• Cash-on-cash: 87.80%
• DSCR: 4.91
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $250,042
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
600 Riddle Rd	0.54mi	4/—	1,657 (+8%)	2mo	$270,000	$163	60
2752 Enslin St	0.51mi	3/2.0 (-1)	1,584 (+3%)	16mo	$108,000	$68	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 97.1%
• Equity multiple: 7.61×
• Total profit: $296,001
• Equity at exit: $144,141

10-year hold

• IRR: 92.2%
• Equity multiple: 16.80×
• Total profit: $707,659
• Equity at exit: $310,845

Cash invested: $44,800 (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 45225

• Home prices YoY: 4.6%
• Active inventory: 32
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $5,549 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,400/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,165
• Net cashflow: $3,278

Break-even live

Break-even rent $1,400

Max offer price $160,000

Occupancy floor 36%

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

Units	Beds	Baths	Est. rent
▸ 5× units	2	1	$5,550
Total (5 units)			$5,549

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1042 Marshall Ave Apt 3 Cincinnati, OH	3.0	1.0	1400	$1,195	$0.85	23d	1	0.22mi
1241 Bates Ave Cincinnati, OH	3.0	2.5	2100	$1,875	$0.89	23d	1	0.41mi
2704 W McMicken Ave Unit 2 Cincinnati, OH	3.0	1.0	1760	$1,500	$0.85	23d	1	0.43mi
623 Riddle Rd Cincinnati, OH	3.0	2.0	2028	$1,800	$0.89	23d	1	0.46mi
595 Martin Luther King Dr W Cincinnati, OH	3.0	2.0	2048	$1,650	$0.81	10d	1	0.52mi
2521 Ravine St Cincinnati, OH	3.0	3.5	1528	$2,995	$1.96	23d	1	0.68mi
421 Southview Ave Unit 2 Cincinnati, OH	3.0	1.0	1350	$1,800	$1.33	23d	1	0.72mi
348 Volkert Ave Cincinnati, OH	4.0	2.5	1400	$2,800	$2.00	23d	1	0.80mi
2231 Flora St Cincinnati, OH	4.0	2.0	1728	$1,500	$0.87	23d	1	0.96mi
2332 Chickasaw St Unit 1 Cincinnati, OH	3.0	1.0	2000	$1,800	$0.90	23d	1	0.97mi
2235 Victor St Cincinnati, OH	4.0	2.0	2043	$2,250	$1.10	23d	1	0.97mi
2388 Wheeler St Cincinnati, OH	4.0	2.0	1740	$2,700	$1.55	23d	1	1.00mi
2386 Wheeler St Cincinnati, OH	4.0	1.0	1740	$2,700	$1.55	23d	1	1.00mi
358 Shiloh St Cincinnati, OH	1.0–3.0	1.0	1400	$2,100	$1.50	1d	1	1.02mi
445 W McMicken Ave Cincinnati, OH	3.0	1.0	1090	$1,350	$1.24	23d	1	1.04mi
231 Emming St Unit 2 Cincinnati, OH	3.0	1.0	1200	$1,800	$1.50	23d	1	1.15mi
217 Emming St Unit 1 Cincinnati, OH	4.0	2.0	1510	$1,800	$1.19	23d	1	1.17mi
1852 Knox St Cincinnati, OH	4.0	1.5	1747	$1,850	$1.06	23d	1	1.19mi
3141 Bishop St Unit 1 Cincinnati, OH	3.0	1.0	1500	$2,100	$1.40	23d	1	1.20mi
812 Dayton St Unit 1056021P Cincinnati, OH	3.0	1.0	1453	$2,995	$2.06	1d	1	1.23mi
3263 Bishop St Cincinnati, OH	3.0	2.0	1465	$2,395	$1.63	23d	1	1.23mi
414 Dayton St Cincinnati, OH	3.0	2.5	1176	$2,400	$2.04	23d	1	1.30mi
7 W Hollister St Cincinnati, OH	5.0	2.0	1585	$2,750	$1.74	14d	1	1.35mi
107 E Clifton Ave Unit 1234537P Cincinnati, OH	2.0–3.0	1.0–2.0	2260	$6,619	$2.93	14d	2	1.44mi
2504 White St Apt 5 Cincinnati, OH	3.0	2.0	1150	$1,150	$1.00	23d	1	1.46mi

Listing history 8 events

1. 2026-06-18
   days on market $160,000 Active 8 DOM
2. 2026-06-17
   days on market $160,000 Active 7 DOM
3. 2026-06-16
   remarks 450-char remark
4. 2026-06-16
   days on market $160,000 Active 6 DOM
5. 2026-06-15
   days on market $160,000 Active 5 DOM
6. 2026-06-13
   days on market $160,000 Active 3 DOM
7. 2026-06-13
   remarks 384-char remark
8. 2026-06-13
   listed $160,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $66,588
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$800
• − Repairs & maintenance: −$5,327
• − Management: −$5,327
• − Depreciation: −$4,655
• Taxable income: $39,117
• Est. tax owed @ 24.0%: −$9,388
• After-tax cash flow: $29,948/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): 9,583
• Household income: $20,348
• Rent vs Own: 87.2% rent · 12.8% own
• Severe rent burden: 1466.0

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 (72%)
• Race & ethnicity: Black 72% White 17% Two or more races 7% Hispanic / Latino 5%
• Common ancestry: Slovak 1% Romanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · 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: ▲ 10.21%
• Current HPI: 232.7908
• Rent YoY: —
• 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

+28.0% since first listed

3 events — show timeline

• 2026-06-10 Listed $160,000 Cincy MLS
• 2003-02-07 Listing Removed — Cincy MLS
• 2002-08-06 Listed $125,000 Cincy MLS