435 Purcell Ave · Cincinnati, OH 45205

$169,000

5 bd · 2.0 ba · 3,389 sqft · SingleFamily public records · 220 Days on market

Built 1895 8,668 sqft lot

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Why this score? — see what drove the C 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 +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 units with solid bones. Both units currently occupied. A money maker with room to push CAP rates higher.

Key facts

• 8,668 sq ft lot
• Built 1895
• Listed 220 days

Property features AI

Finance

• Other: Zoned residential
• HOA & community: No HOA

Exterior

• Utilities: Public water; Public sewer; Natural gas service; Gas heating; Gas water heating
• Home design: Traditional single-family home; One main level with additional upper floors; Second floor area documented (1,361 sq ft)
• Construction: Stone foundation
• Exterior features: Shingle roof; Vinyl siding; Energy-efficient windows including Low-E and double-hung styles

Interior

• Kitchen: Kitchen approximately 10 x 10
• Bedrooms: 5 bedrooms total; Primary bedroom approximately 12 x 12 (on level 2); Bedroom 2 approximately 10 x 10 (on level 2); Bedroom 3 approximately 12 x 10 (on level 2); Bedroom 4 approximately 12 x 10 (on level 2); Bedroom 5 approximately 12 x 15 (on level 3)
• Bathrooms: 2 full bathrooms; Full bathroom on level 1; Full bathroom on level 2; Primary bathroom: other configuration
• Interior features: 12 total rooms; Basement with finished/usable space (1,385 sq ft)

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $373 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $149k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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.
• 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 (+3.3%/yr); 70 active listings in the ZIP; lower-income renter base — watch delinquency; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $1,956/mo this rent would consume 54% of the median local household income ($44k/yr) (locally 980% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 220 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 21y ago; this cycle's ask has dropped $60k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $52k; list at $169k implies a 225% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $148,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 220 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.16% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.47%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $349,067
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
525 Hawthorne Ave	0.15mi	5/4.0	3,205 (-5%)	24mo	$329,000	$103	56

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 · 3.3% rent growth · sell at horizon

5-year hold

• IRR: -1.7%
• Equity multiple: 0.94×
• Total profit: $-2,982
• Equity at exit: $25,198

10-year hold

• IRR: 8.4%
• Equity multiple: 1.65×
• Total profit: $30,598
• Equity at exit: $14,612

Cash invested: $47,320 (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 45205

• Rents YoY: 3.3%
• Active inventory: 70
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,956 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$215 /mo · $2,585/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $373

Break-even live

Break-even rent $1,484

Max offer price $169,000

Occupancy floor 76%

Sensitivity live

Price	-10% $469	-5% $421	+0% $373	+5% $326	+10% $278
Rent	-10% $219	-5% $296	+0% $373	+5% $451	+10% $528
Rate	-1.0pp $458	-0.5pp $416	base $373	+0.5pp $330	+1.0pp $285

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 46 events

1. 2026-06-21
   days on market $169,000 Active 220 DOM
2. 2026-06-18
   days on market $169,000 Active 217 DOM
3. 2026-06-17
   days on market $169,000 Active 216 DOM
4. 2026-06-16
   days on market $169,000 Active 215 DOM
5. 2026-06-15
   days on market $169,000 Active 214 DOM
6. 2026-06-13
   days on market $169,000 Active 212 DOM
7. 2026-06-13
   days on market $169,000 Active 211 DOM
8. 2026-06-09
   days on market $169,000 Active 208 DOM
9. 2026-06-08
   days on market $169,000 Active 207 DOM
10. 2026-06-07
    days on market $169,000 Active 206 DOM
11. 2026-06-03
    days on market $169,000 Active 202 DOM
12. 2026-06-02
    days on market $169,000 Active 201 DOM
13. 2026-06-01
    days on market $169,000 Active 200 DOM
14. 2026-05-31
    days on market $169,000 Active 199 DOM
15. 2026-04-06
    price $169,000
16. 2026-03-09
    price $189,000
17. 2026-02-10
    price $199,000
18. 2025-11-13
    listed $229,000 Active
19. 2018-07-19
    soldstatus $52,000
20. 2018-07-16
    soldstatus $52,000 Sold 106-char remark

    Show marketing remark (106 chars)

    2 units with solid bones. Both units currently occupied. A money maker with room to push CAP rates higher.

21. 2018-06-21
    historical Accept Backup Offers 106-char remark

    Show marketing remark (106 chars)

    2 units with solid bones. Both units currently occupied. A money maker with room to push CAP rates higher.

22. 2018-06-12
    listed $45,000 Active 106-char remark

    Show marketing remark (106 chars)

    2 units with solid bones. Both units currently occupied. A money maker with room to push CAP rates higher.

23. 2018-01-10
    historical
24. 2017-12-15
    status Active
25. 2017-09-27
    historical Accept Backup Offers
26. 2017-08-24
    status Active
27. 2017-08-11
    historical Accept Backup Offers
28. 2017-07-11
    listed $55,000 Active
29. 2017-02-28
    historical Accept Backup Offers
30. 2017-02-27
    historical
31. 2017-01-17
    listed $59,900 Active
32. 2016-12-31
    historical
33. 2016-09-21
    listed $59,900 Active
34. 2016-09-08
    historical
35. 2016-07-21
    price $59,900
36. 2016-06-21
    price $64,900
37. 2016-04-14
    listed $69,900 Active
38. 2010-07-28
    soldstatus $70,000
39. 2008-12-10
    soldstatus $23,000
40. 2008-11-28
    soldstatus $15,000
41. 2008-08-15
    listed $27,000
42. 2008-02-28
    historical
43. 2007-02-27
    listed $65,000
44. 2005-11-29
    soldstatus $115,000
45. 2005-05-06
    soldstatus $51,000
46. 2005-03-31
    listed $49,900

ⓘ 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: $2,585 · $215/mo
• Projected year-2 tax: $2,611 · $218/mo
• Expected delta: +$26/yr (+$2/mo · 1.0%)

ⓘ 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 ≥102°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: $23,475
• − Mortgage interest: −$9,467
• − Property taxes: −$2,585
• − Insurance: −$845
• − Repairs & maintenance: −$1,878
• − Management: −$1,878
• − Depreciation: −$4,916
• Taxable income: $1,906
• Est. tax owed @ 24.0%: −$457
• After-tax cash flow: $4,023/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): 18,651
• Household income: $43,682
• Rent vs Own: 63.1% rent · 36.9% own
• Severe rent burden: 980.0

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 0.69)
• Race & ethnicity: Black 43% White 32% Hispanic / Latino 16% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 1% Slovak 1% Serbian 1%
• Foreign-born: 9% · Canada, India, China
• Languages at home: 84% English-only · Spanish 10% Other Asian/Pacific 2% Other Indo-European 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: ▼ -138.67%
• Current HPI: 163.3375
• Rent YoY: ▲ 3.30%
• 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

+238.7% since first listed

32 events — show timeline

• 2026-04-06 Price Changed $169,000 Cincy MLS
• 2026-03-09 Price Changed $189,000 Cincy MLS
• 2026-02-10 Price Changed $199,000 Cincy MLS
• 2025-11-13 Listed $229,000 Cincy MLS
• 2018-07-19 Sold (Public Records) $52,000 Public Records
• 2018-07-16 Sold (MLS) $52,000 Cincy MLS
• 2018-06-21 Contingent — Cincy MLS
• 2018-06-12 Listed $45,000 Cincy MLS
• 2018-01-10 Listing Removed — Cincy MLS
• 2017-12-15 Relisted — Cincy MLS
• 2017-09-27 Contingent — Cincy MLS
• 2017-08-24 Relisted — Cincy MLS
• 2017-08-11 Contingent — Cincy MLS
• 2017-07-11 Listed $55,000 Cincy MLS
• 2017-02-28 Contingent — Cincy MLS
• 2017-02-27 Listing Removed — Cincy MLS
• 2017-01-17 Listed $59,900 Cincy MLS
• 2016-12-31 Listing Removed — Cincy MLS
• 2016-09-21 Listed $59,900 Cincy MLS
• 2016-09-08 Listing Removed — Cincy MLS
• 2016-07-21 Price Changed $59,900 Cincy MLS
• 2016-06-21 Price Changed $64,900 Cincy MLS
• 2016-04-14 Listed $69,900 Cincy MLS
• 2010-07-28 Sold (Public Records) $70,000 Public Records
• 2008-12-10 Sold (Public Records) $23,000 Public Records
• 2008-11-28 Sold (MLS) $15,000 Cincy MLS
• 2008-08-15 Listed $27,000 Cincy MLS
• 2008-02-28 Listing Removed — Cincy MLS
• 2007-02-27 Listed $65,000 Cincy MLS
• 2005-11-29 Sold (Public Records) $115,000 Public Records
• 2005-05-06 Sold (MLS) $51,000 Cincy MLS
• 2005-03-31 Listed $49,900 Cincy MLS

Property tax history

+4.4%/yr

Latest (2025): $2,585 · +24.4% YoY. Source: county tax records.