5547 Kirby Ave · Cincinnati, OH 45239

$350,000

6 bd · 4.0 ba · 2,900 sqft · MultiFamily public records · 37 Days on market

Built 2002 0.26 ac lot

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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 +13.0/30.0
• ARV discount +7.5/15.0
• 1% rule +4.1/10.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• DSCR +3.9/10.0
• 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

Beautiful brick building just 16-years young in prime location features two spacious, 3-bedroom, 2-bath units (1,450 sq ft). Freshly-painted upper unit has large deck. Good rental history. Separate everything. Owner pays water. This superb investment is priced to sell NOW!

Key facts

• Brick exterior
• Private en-suite
• Multi-unit property

Tags

• MULTI-UNIT PROPERTY
• RENTAL INCOME
• OPEN-CONCEPT FLOOR PLAN
• DEDICATED UTILITY ROOM
• PRIVATE EN-SUITE
• BRICK EXTERIOR

Property features AI

Exterior

• Parking: Assigned off-street parking; 4 open parking spaces
• Utilities: Public water; Public sewer; Natural gas; Separate gas/electric metering for units
• Home design: Duplex; Two stories; Second-floor living area present
• Construction: Shingle roof; Slab foundation
• Exterior features: Brick exterior; Double-hung windows

Interior

• Bedrooms: Two 3-bedroom units
• Bathrooms: Each unit has 2 full bathrooms
• Heating & cooling: Gas forced air heating; Central air conditioning; Separate furnaces and separate A/C for units; Natural gas
• Interior features: Deck

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $-18 ($-212/yr) — negative. Per door: $-9/mo.
• To cash-flow at today's rent, offer at most $347k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $320k (8.6% below list).
• Recommended offer: $320k (8.6% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $3,199/mo this rent would consume 64% of the median local household income ($60k/yr) (locally 1566% 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 $10k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($340k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y 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 $140k; list at $350k implies a 150% gain — meaningful room to come down on a strong offer.

Recommended offer $319,900 (8.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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: 0.91% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.22%
• DSCR: 0.99
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.0% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.51×
• Total profit: $-47,767
• Equity at exit: $52,186

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $878
• Equity at exit: $30,262

Cash invested: $98,000 (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: 18.2×

Monthly cashflow live

• Estimated rent: $3,199 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$564 /mo · $6,763/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$672
• Net cashflow: $-18

Break-even live

Break-even rent $3,221

Max offer price $346,885

Occupancy floor 96%

Sensitivity live

Price	-10% $180	-5% $81	+0% $-18	+5% $-117	+10% $-216
Rent	-10% $-270	-5% $-144	+0% $-18	+5% $109	+10% $235
Rate	-1.0pp $159	-0.5pp $71	base $-18	+0.5pp $-108	+1.0pp $-201

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,200
Total (2 units)			$3,199

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $350,000 Active 37 DOM
2. 2026-06-18
   days on market $350,000 Active 34 DOM
3. 2026-06-17
   days on market $350,000 Active 33 DOM
4. 2026-06-16
   days on market $350,000 Active 32 DOM
5. 2026-06-15
   days on market $350,000 Active 31 DOM
6. 2026-06-13
   days on market $350,000 Active 29 DOM
7. 2026-06-13
   days on market $350,000 Active 28 DOM
8. 2026-06-09
   days on market $350,000 Active 25 DOM
9. 2026-06-08
   days on market $350,000 Active 24 DOM
10. 2026-06-07
    days on market $350,000 Active 23 DOM
11. 2026-06-03
    days on market $350,000 Active 19 DOM
12. 2026-06-02
    days on market $350,000 Active 18 DOM
13. 2026-06-01
    days on market $350,000 Active 17 DOM
14. 2026-05-31
    days on market $350,000 Active 16 DOM
15. 2026-05-15
    listed $350,000 Active
16. 2024-04-18
    historical $1,500
17. 2024-04-10
    listed $1,500
18. 2024-04-10
    historical $1,500
19. 2024-03-29
    price $1,500
20. 2024-03-13
    listed $1,600
21. 2018-10-31
    soldstatus $140,000
22. 2018-10-30
    soldstatus $139,900 Sold 273-char remark

    Show marketing remark (273 chars)

    Beautiful brick building just 16-years young in prime location features two spacious, 3-bedroom, 2-bath units (1,450 sq ft). Freshly-painted upper unit has large deck. Good rental history. Separate everything. Owner pays water. This superb investment is priced to sell NOW!

23. 2018-09-27
    historical Accept Backup Offers 273-char remark

    Show marketing remark (273 chars)

    Beautiful brick building just 16-years young in prime location features two spacious, 3-bedroom, 2-bath units (1,450 sq ft). Freshly-painted upper unit has large deck. Good rental history. Separate everything. Owner pays water. This superb investment is priced to sell NOW!

24. 2018-09-09
    price $149,900 273-char remark

    Show marketing remark (273 chars)

    Beautiful brick building just 16-years young in prime location features two spacious, 3-bedroom, 2-bath units (1,450 sq ft). Freshly-painted upper unit has large deck. Good rental history. Separate everything. Owner pays water. This superb investment is priced to sell NOW!

25. 2018-09-07
    listed $149,000 Active 273-char remark

    Show marketing remark (273 chars)

    Beautiful brick building just 16-years young in prime location features two spacious, 3-bedroom, 2-bath units (1,450 sq ft). Freshly-painted upper unit has large deck. Good rental history. Separate everything. Owner pays water. This superb investment is priced to sell NOW!

26. 2018-06-30
    historical
27. 2018-01-12
    listed $159,000 Active
28. 2002-10-29
    soldstatus $22,000

ⓘ 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: $6,763 · $564/mo
• Projected year-2 tax: $6,763 · $564/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,388
• − Mortgage interest: −$19,605
• − Property taxes: −$6,763
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,071
• − Management: −$3,071
• − Depreciation: −$10,182
• Taxable loss: −$6,054
• Est. tax savings @ 24.0%: +$1,453
• After-tax cash flow: $1,241/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

+1490.9% since first listed

14 events — show timeline

• 2026-05-15 Listed $350,000 Cincy MLS
• 2024-04-18 Rental Removed $1,500 APPFOLIO
• 2024-04-10 Listed for Rent $1,500 APPFOLIO
• 2024-04-10 Rental Removed $1,500 APPFOLIO
• 2024-03-29 Price Changed $1,500 APPFOLIO
• 2024-03-13 Listed for Rent $1,600 APPFOLIO
• 2018-10-31 Sold (Public Records) $140,000 Public Records
• 2018-10-30 Sold (MLS) $139,900 Cincy MLS
• 2018-09-27 Contingent — Cincy MLS
• 2018-09-09 Price Changed $149,900 Cincy MLS
• 2018-09-07 Listed $149,000 Cincy MLS
• 2018-06-30 Listing Removed — Cincy MLS
• 2018-01-12 Listed $159,000 Cincy MLS
• 2002-10-29 Sold (Public Records) $22,000 Public Records

Property tax history

+24.5%/yr

Latest (2025): $6,763 · +0.1% YoY. Source: county tax records.