6273 Cheviot Rd · White Oak, OH 45247

$2,300,000

32 bd · None ba · — sqft · MultiFamily · 75 Days on market

Built 1974 0.27 ac 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 +24.9/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

If you're looking to add to your investment portfolio, or want a big boy investment, this is your opportunity. With a total of 23 units (10, 2-bedroom, 12, 1-bedroom, and 1-efficiency), this completely occupied, this is highly sought after in excellent location.

Key facts

• 0.27 acre lot
• 24 garage spots
• Built 1974

Property features AI

Finance

• Other: Semi-annual taxes listed (financial detail)
• Financial info: 1-bedroom rent listed at $850; 2-bedroom rent listed at $1,000; Efficiency rent listed at $610; Gas and electric charges indicated as 11,300 (unit/context not specified); Owner currently pays heat and water
• HOA & community: Not specified

Exterior

• Parking: 24 garage spaces; 24 open parking spaces; Private lot parking
• Security: Not specified
• Utilities: Public water; Public sewer; Natural gas
• Home design: One and one-half levels; Two buildings on the property
• Construction: Brick construction; Shingle roof; Poured foundation
• Exterior features: Casement windows; Lot approximately 0.272 acres

Interior

• Kitchen: Not specified
• Bedrooms: 23 total rental units: 12 one-bedroom units, 10 two-bedroom units, 1 efficiency
• Flooring: Not specified
• Bathrooms: Not specified
• Heating & cooling: Gas heating with hot water system; Window air conditioning units; Owner pays heat and water; Separate furnaces and separate A/C for units; Separate gas and electric metering
• Interior features: Full basement
• Laundry & utility: Not specified

What this means for you Summary

Snapshot

• This is a 32-bed/?-bath multifamily listed at $2.30M.

Deal economics

• At list price, monthly cash flow is $5k ($59k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($24k rent vs $2.30M).
• Recommended offer: $2.16M (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#499 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: health & safety C-, schools D-, amenities F.
• Northwest Local (suburban): math 38% / reading 46% proficiency, ranked #508 of 656 in OH (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 50 active listings in the ZIP; solid renter incomes; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $23,935/mo this rent would consume 300% of the median local household income ($96k/yr) — 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 $16k of loan paydown is wiped out by about $69k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($2.16M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $775k; list at $2.30M implies a 197% gain — meaningful room to come down on a strong offer.

Recommended offer $2,162,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.04% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.22%
• DSCR: 1.41
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.4%
• Equity multiple: 0.91×
• Total profit: $-58,292
• Equity at exit: $342,937

10-year hold

• IRR: 7.3%
• Equity multiple: 1.55×
• Total profit: $351,792
• Equity at exit: $198,862

Cash invested: $644,000 (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 45247

• Active inventory: 50
• Price-to-rent: 163.0×

Monthly cashflow live

• Estimated rent: $23,935 high
• Mortgage (P&I): −$12,061
• Tax from tax record: −$939 /mo · $11,273/yr
• Insurance: −$958
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,026
• Net cashflow: $4,949

Break-even live

Break-even rent $17,670

Max offer price $2,300,000

Occupancy floor 74%

Sensitivity live

Price	-10% $6,251	-5% $5,600	+0% $4,949	+5% $4,298	+10% $3,648
Rent	-10% $3,059	-5% $4,004	+0% $4,949	+5% $5,895	+10% $6,840
Rate	-1.0pp $6,108	-0.5pp $5,534	base $4,949	+0.5pp $4,354	+1.0pp $3,747

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

Units	Beds	Baths	Est. rent
▸ 10× units	2	1	$11,760
▸ 13× units	1	1	$12,181
Total (23 units)			$23,935

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: $575,000
• Closing costs: $69,000
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $2,300,000 Active 75 DOM
2. 2026-06-18
   days on market $2,300,000 Active 73 DOM
3. 2026-06-17
   days on market $2,300,000 Active 72 DOM
4. 2026-06-16
   days on market $2,300,000 Active 71 DOM
5. 2026-06-15
   days on market $2,300,000 Active 70 DOM
6. 2026-06-13
   days on market $2,300,000 Active 68 DOM
7. 2026-06-12
   days on market $2,300,000 Active 67 DOM
8. 2026-06-09
   days on market $2,300,000 Active 64 DOM
9. 2026-06-08
   days on market $2,300,000 Active 63 DOM
10. 2026-06-08
    days on market $2,300,000 Active 62 DOM
11. 2026-06-07
    days on market $2,300,000 Active 61 DOM
12. 2026-06-04
    days on market $2,300,000 Active 58 DOM
13. 2026-06-02
    days on market $2,300,000 Active 57 DOM
14. 2026-06-01
    days on market $2,300,000 Active 56 DOM
15. 2026-05-31
    days on market $2,300,000 Active 55 DOM
16. 2026-04-06
    listed $2,300,000 Active
17. 2026-03-14
    historical $1,100
18. 2026-03-12
    listed $1,100
19. 2026-03-02
    historical $1,200
20. 2026-02-26
    listed $1,200
21. 2007-03-26
    soldstatus $775,000
22. 1998-10-19
    soldstatus $627,500
23. 1993-03-10
    soldstatus $591,900
24. 1987-01-02
    soldstatus $565,000

ⓘ 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: $11,273 · $939/mo
• Projected year-2 tax: $23,576 · $1,965/mo
• Expected delta: +$12,304/yr (+$1,025/mo · 109.1%)

ⓘ 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: $287,220
• − Mortgage interest: −$128,836
• − Property taxes: −$11,273
• − Insurance: −$11,500
• − Repairs & maintenance: −$22,978
• − Management: −$22,978
• − Depreciation: −$66,909
• Taxable income: $22,747
• Est. tax owed @ 24.0%: −$5,459
• After-tax cash flow: $53,934/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: Northwest Local
• NCES district ID: 3904736
• Math proficiency: 38% ▼ -18.00%
• Reading proficiency: 46% ▼ -10.00%
• Median HH income: $58,765
• Composite: 36.97/100
• National rank: #4528
• State rank: #508 of 656 in OH

Livability — White Oak

• Score: 69/100
• State rank: #499
• US rank: #8343

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: White Oak, OH
• County: Hamilton · 838,887 people
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 23,588
• Household income: $95,810
• Rent vs Own: 18.9% rent · 81.1% own
• Severe rent burden: 10.7

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 (87%)
• Race & ethnicity: White 87% Black 7% Two or more races 4%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 2%
• Foreign-born: 3% · China
• Languages at home: 96% English-only · Arabic 1% Russian/Polish/Slavic 1% Spanish 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: ▼ -126.31%
• Current HPI: 204.334
• Rent YoY: —
• Metro: —
• 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

+307.1% since first listed

9 events — show timeline

• 2026-04-06 Listed $2,300,000 Cincy MLS
• 2026-03-14 Rental Removed $1,100 RENTALBEAST
• 2026-03-12 Listed for Rent $1,100 RENTALBEAST
• 2026-03-02 Rental Removed $1,200 RENTALBEAST
• 2026-02-26 Listed for Rent $1,200 RENTALBEAST
• 2007-03-26 Sold (Public Records) $775,000 Public Records
• 1998-10-19 Sold (Public Records) $627,500 Public Records
• 1993-03-10 Sold (Public Records) $591,900 Public Records
• 1987-01-02 Sold (Public Records) $565,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $11,273 · +1.5% YoY. Source: county tax records.