2309 W Clifton Ave · Cincinnati, OH 45219

$549,000

3 bd · None ba · 2,551 sqft · MultiFamily public records · 17 Days on market

Built 1891 2,526 sqft lot Est $388k · 42% 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 +21.4/30.0
• DSCR +6.8/10.0
• 1% rule +5.0/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• 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: 5 units. estimate disagrees with records

Listing remarks

Location, condition, and cash flow this Clifton 5-family is situated blocks from UC on major bus and shuttle routes, this historic 19th-century brick multi-family. The exterior shines with a brand-new roof, newer windows, and fresh, thematic Bearcat black-and-red paint. Three units have been beautifully refreshed for immediate occupancy with historic character and modern appeal. With separate utility meters paid entirely by the tenants, your overhead remains low. A premier, turnkey property in Cincinnati's strongest student and professional rental corridor.

Key facts

• Turnkey property
• Modern appeal
• Brand-new roof

Tags

• HISTORIC CHARACTER
• MODERN APPEAL
• BRAND-NEW ROOF
• NEWER WINDOWS
• TURNKEY PROPERTY

Property features AI

Finance

• Financial info: Currently rented studio units; 1-bedroom units vacant; Three 1-bedroom units quoted at $1,000 rent each; Two efficiency units quoted at $500 rent each

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas
• Home design: Brick construction; Three or more stories
• Construction: Membrane roof
• Exterior features: Vinyl, double-hung, insulated windows; Stone foundation; No fireplace

Interior

• Bedrooms: Five-unit building with three 1-bedroom units and two efficiency (studio) units
• Heating & cooling: Electric and natural gas heating; Window air-conditioning units
• Interior features: Partial basement

What this means for you Summary

Snapshot

• This is a 5 × 1-bed/?-bath units multifamily listed at $549k.

Deal economics

• At list price, monthly cash flow is $818 ($10k/yr) — positive. Per door: $164/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 $548k (0.1% below list).
• Recommended offer: $541k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.1% 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: Rents rising (+2.1%/yr); 71 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $5,482/mo this rent would consume 184% of the median local household income ($36k/yr) (locally 2461% 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 $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($541k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1891 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $540,765 (1.5% 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 1891 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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.
9. 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.
10. 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: 1.00% ✗
• Cap rate: 8.08%
• Cash-on-cash: 6.39%
• DSCR: 1.28
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $387,752
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
133 Parker St	0.08mi	4/2.5 (+1)	2,433 (-5%)	10mo	$370,000	$152	75
2334 W Clifton Ave	0.07mi	3/—	2,680 (+5%)	19mo	$450,000	$168	72
258 Warner St	0.16mi	3/3.0	2,626 (+3%)	20mo	$289,500	$110	71
535 Klotter Ave	0.54mi	3/3.0	2,410 (-6%)	2mo	$430,000	$178	64
1606 Elm St	0.73mi	3/3.0	2,592 (+2%)	1mo	$135,000	$52	63
2226 Ravine St	0.30mi	4/2.0 (+1)	2,270 (-11%)	0mo	$297,500	$131	62
318 Mohawk St	0.33mi	3/2.0	2,226 (-13%)	2mo	$380,000	$171	62
458 W Mcmicken Ave	0.45mi	3/2.0	2,832 (+11%)	11mo	$215,000	$76	52
458 Lloyd Pl	0.46mi	3/3.5	2,217 (-13%)	9mo	$344,900	$156	50
618 Klotter Ave	0.61mi	3/3.0	2,750 (+8%)	15mo	$531,000	$193	46
151 Goethe St	0.66mi	3/2.5	2,907 (+14%)	14mo	$400,000	$138	34
813 Livingston St	0.72mi	2/— (-1)	2,386 (-6%)	20mo	$38,000	$16	34

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 · 2.07% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.73×
• Total profit: $-42,015
• Equity at exit: $81,858

10-year hold

• IRR: 0.9%
• Equity multiple: 1.06×
• Total profit: $9,690
• Equity at exit: $47,467

Cash invested: $153,720 (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 45219

• Home prices YoY: -28.3%
• Rents YoY: 2.1%
• Active inventory: 71
• Price-to-rent: 41.7×

Monthly cashflow live

• Estimated rent: $5,482 high
• Mortgage (P&I): −$2,879
• Tax from tax record: −$405 /mo · $4,856/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,151
• Net cashflow: $818

Break-even live

Break-even rent $4,446

Max offer price $549,000

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 5× units	1	—	$5,480
Total (5 units)			$5,482

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: $137,250
• Closing costs: $16,470
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2332 Chickasaw St Unit 1 Cincinnati, OH	3.0	1.0	2000	$1,800	$0.90	23d	1	0.18mi
2235 Victor St Cincinnati, OH	4.0	2.0	2043	$2,250	$1.10	23d	1	0.22mi
2271 Vine St Cincinnati, OH	4.0	2.0	2268	$1,525	$0.67	4d	1	0.28mi
107 E Clifton Ave Unit 1234537P Cincinnati, OH	2.0–3.0	1.0–2.0	2260	$6,619	$2.93	14d	2	0.34mi
55 Mulberry St Cincinnati, OH	3.0	3.0	2500	$3,500	$1.40	23d	1	0.47mi
472 Dayton St Cincinnati, OH	2.0	1.5	2519	$1,500	$0.60	4d	1	0.52mi
111 W Elder St Unit 1056044P Cincinnati, OH	1.0–4.0	1.0–4.0	1835	$5,561	$3.03	10d	2	0.62mi
216 Gilman Ave Unit 1363975P Cincinnati, OH	3.0	1.0	1776	$3,474	$1.96	3d	1	0.68mi
2704 W McMicken Ave Unit 2 Cincinnati, OH	3.0	1.0	1760	$1,500	$0.85	23d	1	0.71mi
1610 Pleasant St Unit 1056041P Cincinnati, OH	3.0–4.0	2.0–3.0	2960	$4,370	$1.48	10d	2	0.73mi
2800 Jefferson Ave Cincinnati, OH	4.0	2.0	2500	$625	$0.25	19d	1	0.73mi
328 Mulberry St Cincinnati, OH	3.0	3.5	2640	$5,500	$2.08	23d	1	0.78mi
328 Mulberry St Cincinnati, OH	3.0	3.5	2640	$5,500	$2.08	14d	1	0.78mi
1537 Republic St Unit 1058850P Cincinnati, OH	4.0	3.0	2421	$10,677	$4.41	21d	1	0.80mi
21 E 15th St Unit 1512946P Cincinnati, OH	3.0	2.0	2852	$12,830	$4.50	23d	1	0.87mi
623 Riddle Rd Cincinnati, OH	3.0	2.0	2028	$1,800	$0.89	23d	1	0.90mi
1424 Pleasant St Unit 1056038P Cincinnati, OH	4.0	3.0	2960	$7,167	$2.42	14d	1	0.90mi
2813 Gerard St Unit 1540075P Cincinnati, OH	4.0	3.0	2152	$6,281	$2.92	20d	1	0.95mi
2105 Burnet Ave Unit 1056017P Cincinnati, OH	4.0	2.0	2960	$7,384	$2.49	1d	1	0.97mi
1354 Broadway Unit 1056136P Cincinnati, OH	4.0	3.0	2529	$7,307	$2.89	3d	1	1.01mi
120 E 13th St Unit 1056091P Cincinnati, OH	4.0	2.0	3229	$10,667	$3.30	21d	1	1.04mi
1304 Broadway Unit 1056130P Cincinnati, OH	1.0–5.0	1.0–4.0	2072	$5,808	$2.80	10d	2	1.11mi
242 Stetson St Unit NA Cincinnati, OH	3.0	2.5	2300	$3,500	$1.52	21d	1	1.14mi
595 Martin Luther King Dr W Cincinnati, OH	3.0	2.0	2048	$1,650	$0.81	10d	1	1.16mi
516 E 12th St Unit 1314562P Cincinnati, OH	4.0	2.0	2023	$10,170	$5.03	23d	1	1.21mi
2517 May St Cincinnati, OH	3.0	3.5	2014	$3,420	$1.70	21d	1	1.33mi
2601 May St Cincinnati, OH	2.0–3.0	2.5–3.5	1737	$3,325	$1.91	1d	12	1.35mi
19 Garfield Pl Cincinnati, OH	1.0–2.0	1.0–2.0	1680	$2,260	$1.34	1d	11	1.40mi
1287 Ida St Cincinnati, OH	3.0	2.5	2494	$4,700	$1.88	17d	1	1.41mi
3404 Whitfield Ave Cincinnati, OH	2.0	1.0	1291	$1,595	$1.23	4d	55	1.42mi
1241 Bates Ave Cincinnati, OH	3.0	2.5	2100	$1,875	$0.89	23d	1	1.49mi

Listing history 12 events

1. 2026-06-18
   days on market $549,000 Active 17 DOM
2. 2026-06-17
   days on market $549,000 Active 16 DOM
3. 2026-06-16
   days on market $549,000 Active 15 DOM
4. 2026-06-15
   days on market $549,000 Active 14 DOM
5. 2026-06-13
   days on market $549,000 Active 12 DOM
6. 2026-06-13
   days on market $549,000 Active 11 DOM
7. 2026-06-09
   days on market $549,000 Active 8 DOM
8. 2026-06-08
   days on market $549,000 Active 7 DOM
9. 2026-06-07
   days on market $549,000 Active 6 DOM
10. 2026-06-03
    days on market $549,000 Active 2 DOM
11. 2026-06-02
    remarks 563-char remark
12. 2026-06-02
    listed $549,000 Active 1 DOM

ⓘ 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: $4,856 · $405/mo
• Projected year-2 tax: $6,710 · $559/mo
• Expected delta: +$1,854/yr (+$155/mo · 38.2%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $65,784
• − Mortgage interest: −$30,753
• − Property taxes: −$4,856
• − Insurance: −$2,745
• − Repairs & maintenance: −$5,263
• − Management: −$5,263
• − Depreciation: −$15,971
• Taxable income: $934
• Est. tax owed @ 24.0%: −$224
• After-tax cash flow: $9,596/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): 20,012
• Household income: $35,657
• Rent vs Own: 82.9% rent · 17.1% own
• Severe rent burden: 2461.0

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 White (67%)
• Race & ethnicity: White 67% Black 16% Asian 7% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Romanian 3% Italian 2% Slovak 1%
• Foreign-born: 10% · China, Canada
• Languages at home: 88% English-only · Chinese 3% Spanish 2% Other Indo-European 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: ▼ -134.46%
• Current HPI: 340.1262
• Rent YoY: ▲ 2.07%
• 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

1 event — show timeline

• 2026-06-01 Listed $549,000 Cincy MLS

Property tax history

+6.9%/yr

Latest (2025): $4,856 · +0.1% YoY. Source: county tax records.