601 Trenton Ave · Cincinnati, OH 45205

$163,900

4 bd · 2.0 ba · 1,520 sqft · MultiFamily public records · 30 Days on market

Built 1928 5,184 sqft lot

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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 +28.8/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Investment opportunity. 2 one bedroom units. Great tenants. One there for 4 years, the other 8years. Off street parking, fenced rear yard, second floor deck, walk out from full basement. Easement for parking on South side of building.

Key facts

• Off street parking
• Second floor deck
• Fenced rear yard

Tags

• OFF STREET PARKING
• FENCED REAR YARD
• SECOND FLOOR DECK
• WALK OUT FROM FULL BASEMENT

Property features AI

Finance

• Other: Property has one building; Lot approximately 0.119 acres (31 x 154.26)
• Financial info: Two rental units with current rents: one at $855 and one at $850; 1-bedroom unit square footage listed as 760; Lease information: lease through April 2026, then month-to-month
• HOA & community: Maintenance expense: $828

Exterior

• Parking: Two off-street open parking spaces; On-street parking available
• Utilities: Public water (owner pays water); Public sewer; Natural gas; Separate utilities for each unit
• Home design: Duplex; Two levels; Residential multi-family zoning; Facing direction not specified; Entry level not specified
• Construction: Shingle roof; Other construction materials; Poured foundation; Built-in features not specified
• Exterior features: Aluminum, storm, and wood windows; Two gas fireplaces

Interior

• Bedrooms: Two 1-bedroom units (each unit has 1 bedroom)
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Forced air heating (gas); Separate furnace for units; Window air conditioning units; Separate A/C and separate gas/electric for units; Heat paid by tenants
• Interior features: Atrium; Storage area; Full basement; Smoke alarm

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $164k.

Deal economics

• At list price, monthly cash flow is $552 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $164k).
• Recommended offer: $161k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.3% 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 (+3.3%/yr); 70 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $2,097/mo this rent would consume 58% 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.
• At projected returns (-3.0% appreciation + 3.3% rent growth), your $46k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($161k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 19y 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 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $161,441 (1.5% below list)

Questions for the listing agent

1. Built in 1928 — 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: 1.28% ✓
• Cap rate: 10.33%
• Cash-on-cash: 14.43%
• DSCR: 1.64
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.3% rent growth · sell at horizon

5-year hold

• IRR: 5.2%
• Equity multiple: 1.20×
• Total profit: $9,232
• Equity at exit: $24,438

10-year hold

• IRR: 14.9%
• Equity multiple: 2.22×
• Total profit: $55,969
• Equity at exit: $14,171

Cash invested: $45,892 (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: 13.0×

Monthly cashflow live

• Estimated rent: $2,097 high
• Mortgage (P&I): −$860
• Tax from tax record: −$177 /mo · $2,125/yr
• Insurance: −$68
• HOA: −$0
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $552

Break-even live

Break-even rent $1,399

Max offer price $163,900

Occupancy floor 69%

Sensitivity live

Price	-10% $645	-5% $598	+0% $552	+5% $505	+10% $459
Rent	-10% $386	-5% $469	+0% $552	+5% $635	+10% $717
Rate	-1.0pp $634	-0.5pp $593	base $552	+0.5pp $509	+1.0pp $466

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,096
Total (2 units)			$2,097

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: $40,975
• Closing costs: $4,917
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4284 Foley Rd Cincinnati, OH	3.0	2.0	1242	$2,800	$2.25	45d	1	0.17mi
4227 W 8th St Cincinnati, OH	3.0	2.0	1832	$2,050	$1.12	3d	1	0.25mi
543 Virgil Rd Cincinnati, OH	4.0	2.0	1258	$1,795	$1.43	22d	1	0.35mi
905 Suire Ave Unit 2 Cincinnati, OH	4.0	1.0	1699	$1,400	$0.82	24d	1	0.48mi
943 Rosemont Ave Cincinnati, OH	5.0	1.5	2132	$1,700	$0.80	17d	1	0.50mi
862 Academy Ave Unit 2 Cincinnati, OH	4.0	1.0	1627	$1,450	$0.89	18d	1	0.64mi
868 Academy Ave Unit 2 Cincinnati, OH	4.0	1.0	1100	$1,699	$1.54	24d	1	0.65mi
1214 Gilsey Ave Cincinnati, OH	3.0	1.0	1300	$1,300	$1.00	24d	1	0.87mi
1214 Gilsey Ave Cincinnati, OH	3.0	1.0	1300	$1,300	$1.00	21d	1	0.87mi
1233 Dewey Ave Cincinnati, OH	3.0	1.0	1411	$1,375	$0.97	5d	1	0.88mi
931 Olive Ave Cincinnati, OH	3.0	1.0	1852	$1,500	$0.81	4d	1	0.88mi
419 Elm St Unit 419-1 Cincinnati, OH	4.0	2.0	1200	$1,995	$1.66	20d	1	0.98mi
3666 Glenway Ave Cincinnati, OH	3.0	1.0	1339	$1,250	$0.93	24d	1	1.09mi
1311 Manss Ave Cincinnati, OH	4.0	1.0	1409	$1,295	$0.92	5d	1	1.10mi
1607 Minion Ave Cincinnati, OH	3.0	1.5	1066	$1,675	$1.57	24d	1	1.14mi
916 Fairbanks Ave Cincinnati, OH	4.0	1.0	1438	$1,695	$1.18	24d	1	1.14mi
928 Fairbanks Ave Cincinnati, OH	5.0	2.0	1530	$2,200	$1.44	45d	1	1.15mi
3772 W Liberty St Cincinnati, OH	3.0	1.0	1066	$1,350	$1.27	5d	1	1.15mi
1620 Minion Ave Cincinnati, OH	4.0	2.0	1845	$1,550	$0.84	21d	1	1.16mi
1723 Tuxworth Ave Cincinnati, OH	3.0	2.0	1587	$1,800	$1.13	24d	1	1.29mi
1024 Edgetree Ln Cincinnati, OH	3.0	2.0	1949	$2,250	$1.15	22d	1	1.31mi
1014 Considine Ave Cincinnati, OH	4.0	2.0	2200	$2,000	$0.91	3d	1	1.48mi

Listing history 29 events

1. 2026-06-21
   days on market $163,900 Active 30 DOM
2. 2026-06-18
   days on market $163,900 Active 27 DOM
3. 2026-06-17
   days on market $163,900 Active 26 DOM
4. 2026-06-16
   days on market $163,900 Active 25 DOM
5. 2026-06-15
   days on market $163,900 Active 24 DOM
6. 2026-06-13
   days on market $163,900 Active 22 DOM
7. 2026-06-13
   days on market $163,900 Active 21 DOM
8. 2026-06-09
   days on market $163,900 Active 18 DOM
9. 2026-06-08
   days on market $163,900 Active 17 DOM
10. 2026-06-07
    days on market $163,900 Active 16 DOM
11. 2026-06-03
    days on market $163,900 Active 12 DOM
12. 2026-06-02
    days on market $163,900 Active 11 DOM
13. 2026-06-01
    days on market $163,900 Active 10 DOM
14. 2026-05-31
    days on market $163,900 Active 9 DOM
15. 2026-05-22
    listed $163,900 Active
16. 2026-04-28
    historical 234-char remark

    Show marketing remark (234 chars)

    Investment opportunity. 2 one bedroom units. Great tenants. One there for 4 years, the other 8years. Off street parking, fenced rear yard, second floor deck, walk out from full basement. Easement for parking on South side of building.

17. 2026-04-28
    listed $164,900 Active 234-char remark

    Show marketing remark (234 chars)

    Investment opportunity. 2 one bedroom units. Great tenants. One there for 4 years, the other 8years. Off street parking, fenced rear yard, second floor deck, walk out from full basement. Easement for parking on South side of building.

18. 2026-04-28
    historical 234-char remark

    Show marketing remark (234 chars)

    Investment opportunity. 2 one bedroom units. Great tenants. One there for 4 years, the other 8years. Off street parking, fenced rear yard, second floor deck, walk out from full basement. Easement for parking on South side of building.

19. 2026-04-16
    listed $169,900 Active 234-char remark

    Show marketing remark (234 chars)

    Investment opportunity. 2 one bedroom units. Great tenants. One there for 4 years, the other 8years. Off street parking, fenced rear yard, second floor deck, walk out from full basement. Easement for parking on South side of building.

20. 2026-03-31
    historical
21. 2026-03-03
    listed $169,900 Active
22. 2026-03-03
    historical
23. 2026-01-14
    listed $179,900 Active
24. 2010-11-30
    historical
25. 2010-04-30
    listed $60,000
26. 2008-09-05
    historical
27. 2008-03-12
    listed $75,000
28. 2008-02-01
    historical
29. 2007-10-31
    listed $88,500

ⓘ 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: $2,125 · $177/mo
• Projected year-2 tax: $2,341 · $195/mo
• Expected delta: +$216/yr (+$18/mo · 10.2%)

ⓘ 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: $25,164
• − Mortgage interest: −$9,181
• − Property taxes: −$2,125
• − Insurance: −$820
• − Repairs & maintenance: −$2,013
• − Management: −$2,013
• − Depreciation: −$4,768
• Taxable income: $4,244
• Est. tax owed @ 24.0%: −$1,019
• After-tax cash flow: $5,602/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

+85.2% since first listed

15 events — show timeline

• 2026-05-22 Listed $163,900 Cincy MLS
• 2026-04-28 Listing Removed — Cincy MLS
• 2026-04-28 Listed $164,900 Cincy MLS
• 2026-04-28 Listing Removed — Cincy MLS
• 2026-04-16 Listed $169,900 Cincy MLS
• 2026-03-31 Listing Removed — Cincy MLS
• 2026-03-03 Listing Removed — Cincy MLS
• 2026-03-03 Listed $169,900 Cincy MLS
• 2026-01-14 Listed $179,900 Cincy MLS
• 2010-11-30 Listing Removed — Cincy MLS
• 2010-04-30 Listed $60,000 Cincy MLS
• 2008-09-05 Listing Removed — Cincy MLS
• 2008-03-12 Listed $75,000 Cincy MLS
• 2008-02-01 Listing Removed — Cincy MLS
• 2007-10-31 Listed $88,500 Cincy MLS

Property tax history

+4.9%/yr

Latest (2025): $2,125 · +1.7% YoY. Source: county tax records.