243 W Vine St · Reading, OH 45215

$199,990

3 bd · 3.0 ba · 2,204 sqft · MultiFamily public records · 1 Days on market

Built 1880 7,100 sqft lot Est $267k · 25% under

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Why this score? — see what drove the B 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 +26.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +7.0/10.0
• Rent growth +4.5/5.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• 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

Property has been totally remodeled from studs out including all new HVAC, Electric, Plumbing. All Finishes are top quality. Over 80k in upgrades. Great for use as 2 family or professional office space on the 1st floor and an apartment on 2nd floor.

Key facts

• Concrete patio
• Backyard area
• 7,100 sq ft lot

Tags

• BRICK TWO-UNIT INVESTMENT
• SEPARATE HVAC SYSTEMS
• COVERED ELEVATED REAR DECK
• CONCRETE PATIO
• BACKYARD AREA
• OFF-STREET PARKING LOT

Property features AI

Finance

• Other: Semi-annual taxes listed
• Financial info: Two-unit property with rental income: Unit 1 rents for $1,350; Unit 2 rents for $600

Exterior

• Parking: 4 garage spaces; Off-street parking on lot
• Utilities: Public water; Public sewer; Natural gas
• Home design: Duplex; Two-story; One building (two units)
• Construction: Stone foundation; Brick construction; Shingle roof; Second floor area approximately 768
• Exterior features: Brick exterior; Vinyl windows; Shingle roof; Lot approximately 0.163 acres; Lot features: Off-street parking

Interior

• Bedrooms: One 3-bedroom unit (Unit 1); One 1-bedroom unit (Unit 2)
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Forced air gas heating; Central air conditioning; Separate furnaces and separate A/C for units; Separate gas and electric meters; Heat paid by tenant; Water paid by owner
• Interior features: Partial basement; Inoperable fireplace; Two levels

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×1bd/1.0ba units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $543 ($7k/yr) — positive. Per door: $271/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 9.6% vs local median 4.8% in Reading — 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 (#112 in OH, #1,682 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D, amenities F.
• Reading Community City (suburban): math 51% / reading 54% proficiency, ranked #413 of 656 in OH (top 63%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+8.0%/yr); 47 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• This rent runs 41% of the median local income ($69k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $56k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 11y 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 $90k; list at $200k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,990

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 1880 — 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 A-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. 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.
7. 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.
8. 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: 1.20% ✓
• Cap rate: 9.55%
• Cash-on-cash: 11.64%
• DSCR: 1.52
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $266,684
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
306 Pearl St	0.05mi	4/3.0 (+1)	2,439 (+11%)	2mo	$220,000	$90	73
56 Gorman Ln	0.61mi	4/4.0 (+1)	2,432 (+10%)	16mo	$295,000	$121	32
55 Gorman Ln	0.59mi	4/4.0 (+1)	2,432 (+10%)	21mo	$310,000	$127	29

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 6.5%
• Equity multiple: 1.27×
• Total profit: $14,870
• Equity at exit: $29,819

10-year hold

• IRR: 19.8%
• Equity multiple: 3.06×
• Total profit: $115,252
• Equity at exit: $17,291

Cash invested: $55,997 (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 45215

• Rents YoY: 8.0%
• Active inventory: 47
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $2,399 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$220 /mo · $2,642/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $543

Break-even live

Break-even rent $1,712

Max offer price $199,990

Occupancy floor 72%

Sensitivity live

Price	-10% $656	-5% $600	+0% $543	+5% $486	+10% $430
Rent	-10% $353	-5% $448	+0% $543	+5% $638	+10% $732
Rate	-1.0pp $644	-0.5pp $594	base $543	+0.5pp $491	+1.0pp $438

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,348
1× unit	1	1	$1,051
Total (2 units)			$2,399

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: $49,998
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
301 W Benson St Unit 6 Cincinnati, OH	3.0	2.0	1500	$1,995	$1.33	44d	1	0.18mi
332 Arlington Ave Cincinnati, OH	3.0	2.0	1500	$1,750	$1.17	18d	1	0.48mi
8346 Anthony Wayne Ave Cincinnati, OH	3.0	2.0	1716	$1,750	$1.02	24d	1	1.32mi

Listing history 2 events

1. 2026-06-19
   remarks 638-char remark
2. 2026-06-19
   listed $199,990 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: $2,642 · $220/mo
• Projected year-2 tax: $2,881 · $240/mo
• Expected delta: +$239/yr (+$20/mo · 9.0%)

ⓘ 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 5/10 Major 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 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,788
• − Mortgage interest: −$11,203
• − Property taxes: −$2,642
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,303
• − Management: −$2,303
• − Depreciation: −$5,818
• Taxable income: $3,520
• Est. tax owed @ 24.0%: −$845
• After-tax cash flow: $5,671/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: Reading Community City
• NCES district ID: 3904469
• Math proficiency: 51% ▼ -12.00%
• Reading proficiency: 54% ▼ -9.00%
• Median HH income: $43,128
• Composite: 44.19/100
• National rank: #2854
• State rank: #413 of 656 in OH

Livability — Reading

• Score: 80/100
• State rank: #112
• US rank: #1682

Category grades

Amenities F Commute A+ Cost of living A+ Crime B Employment D Housing A+ Health & safety B User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Reading, OH
• County: Hamilton County · 701,295 people
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 30,586
• Household income: $69,372
• Rent vs Own: 44.3% rent · 55.7% own
• Severe rent burden: 1529.0

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: Majority White (63%)
• Race & ethnicity: White 63% Black 26% Two or more races 6% Hispanic / Latino 3% Asian 2%
• Common ancestry: Italian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -263.50%
• Current HPI: 217.3319
• Rent YoY: ▲ 8.02%
• 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

+233.3% since first listed

15 events — show timeline

• 2026-06-17 Listed $199,990 Cincy MLS
• 2016-06-28 Sold (MLS) $90,000 Cincy MLS
• 2016-06-04 Pending — Cincy MLS
• 2016-05-13 Price Changed $108,900 Cincy MLS
• 2016-03-25 Listed $109,900 Cincy MLS
• 2016-03-25 Price Changed $109,900 Cincy MLS
• 2016-03-25 Relisted — Cincy MLS
• 2016-03-25 Listing Removed — Cincy MLS
• 2016-01-26 Listing Removed — Cincy MLS
• 2015-11-30 Listed $129,900 Cincy MLS
• 2015-11-26 Listing Removed — Cincy MLS
• 2015-10-29 Price Changed $139,000 Cincy MLS
• 2015-10-29 Price Changed $159,000 Cincy MLS
• 2015-09-16 Listed $159,900 Cincy MLS
• 2002-01-23 Sold (Public Records) $60,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $2,642 · -0.0% YoY. Source: county tax records.