462 Dayton St · Cincinnati, OH 45214

$374,900

3 bd · 3.0 ba · 2,490 sqft · MultiFamily public records · 61 Days on market

Built 1876 1,424 sqft lot Est $378k · at est. ↓ 4% since listing

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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 +17.2/30.0
• Appreciation +10.0/10.0
• ARV discount +7.9/15.0
• DSCR +5.4/10.0
• 1% rule +4.7/10.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Recently renovated duplex in a rapidly developing area, ideally located just half a mile from FC Cincinnati Stadium and Findlay Market, and just over a mile from the University of Cincinnati. Positioned in the path of continued growth, this property offers both strong in-place cash flow and long-term upside. The property was renovated in 2023 and is fully stabilized with separate utilities, keeping owner expenses low. Both units feature in-unit laundry. Unit 1 offers 3 bedrooms and 1 bathroom and is currently leased at $1,625/month through June 8, 2026. Unit 2 features 2 bedrooms and 1 bathroom and is leased at $1,249/month through April 26, 2027. Tenants pay all utilities except water. Thi

Key facts

• Separate utilities
• In unit laundry
• Prime location

Tags

• RECENTLY RENOVATED DUPLEX
• IN UNIT LAUNDRY
• SEPARATE UTILITIES
• PRIME LOCATION

Property features AI

Finance

• Other: One building total; Semi-annual taxes reported
• Financial info: Two-unit investment property with rents of approximately $1,625 for the 3-bedroom unit and $1,249 for the 2-bedroom unit

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas
• Home design: Duplex; Three or more levels
• Construction: Brick construction; Stone foundation; Shingle roof
• Exterior features: Vinyl windows; Small city lot (approx. 1,424 sq ft / 0.0327 acres)

Interior

• Bedrooms: One unit with 3 bedrooms; One unit with 2 bedrooms
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Forced air heating; Heat pump; Central air conditioning
• Interior features: Full basement (approx. 750 sq ft); No fireplace

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $375k.

Deal economics

• At list price, monthly cash flow is $268 ($3k/yr) — positive. Per door: $134/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 $363k (3.3% below list).
• Recommended offer: $352k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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 fast (+8.1%/yr); 67 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $3,626/mo this rent would consume 156% of the median local household income ($28k/yr) (locally 857% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $40k of equity ($3k loan paydown + $37k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 8.0% rent growth), your $105k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$64k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($352k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1876 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $352,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1876 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.97% ✗
• Cap rate: 7.15%
• Cash-on-cash: 3.07%
• DSCR: 1.14
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $378,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
924 Findlay St	0.27mi	4/— (+1)	2,429 (-2%)	2mo	$235,000	$97	77
535 Klotter Ave	0.36mi	3/3.0	2,410 (-3%)	2mo	$430,000	$178	76
1606 Elm St	0.50mi	3/3.0	2,592 (+4%)	1mo	$135,000	$52	69
318 Mohawk St	0.21mi	3/2.0	2,226 (-11%)	2mo	$380,000	$171	67
813 Livingston St	0.24mi	2/— (-1)	2,386 (-4%)	20mo	$38,000	$16	60
2226 Ravine St	0.39mi	4/2.0 (+1)	2,270 (-9%)	0mo	$297,500	$131	58
133 Parker St	0.51mi	4/2.5 (+1)	2,433 (-2%)	10mo	$370,000	$152	57
458 W Mcmicken Ave	0.26mi	3/2.0	2,832 (+14%)	11mo	$215,000	$76	52
258 Warner St	0.49mi	3/3.0	2,626 (+6%)	20mo	$289,500	$110	52
458 Lloyd Pl	0.46mi	3/3.5	2,217 (-11%)	9mo	$344,900	$156	51
618 Klotter Ave	0.45mi	3/3.0	2,750 (+10%)	15mo	$531,000	$193	49
2334 W Clifton Ave	0.57mi	3/—	2,680 (+8%)	20mo	$450,000	$168	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 28.4%
• Equity multiple: 3.29×
• Total profit: $240,483
• Equity at exit: $337,740

10-year hold

• IRR: 26.2%
• Equity multiple: 8.07×
• Total profit: $742,338
• Equity at exit: $728,348

Cash invested: $104,972 (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 45214

• Home prices YoY: 3.6%
• Rents YoY: 8.1%
• Active inventory: 67
• Price-to-rent: 17.2×

Monthly cashflow live

• Estimated rent: $3,626 high
• Mortgage (P&I): −$1,966
• Tax from tax record: −$474 /mo · $5,689/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$761
• Net cashflow: $268

Break-even live

Break-even rent $3,286

Max offer price $374,900

Occupancy floor 88%

Sensitivity live

Price	-10% $480	-5% $374	+0% $268	+5% $162	+10% $56
Rent	-10% $-18	-5% $125	+0% $268	+5% $411	+10% $555
Rate	-1.0pp $457	-0.5pp $364	base $268	+0.5pp $171	+1.0pp $72

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,626
Total (2 units)			$3,626

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: $93,725
• Closing costs: $11,247
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
472 Dayton St Cincinnati, OH	2.0	1.5	2519	$1,500	$0.60	5d	1	0.03mi
107 E Clifton Ave Unit 1234537P Cincinnati, OH	2.0–3.0	1.0–2.0	2260	$6,619	$2.93	15d	2	0.41mi
2231 Flora St Cincinnati, OH	4.0	2.0	1728	$1,500	$0.87	24d	1	0.41mi
111 W Elder St Unit 1056044P Cincinnati, OH	1.0–4.0	1.0–4.0	1835	$5,561	$3.03	11d	2	0.44mi
2235 Victor St Cincinnati, OH	4.0	2.0	2043	$2,250	$1.10	24d	1	0.45mi
1826 Republic St Unit 1056093P Cincinnati, OH	2.0	1.0	1614	$2,812	$1.74	15d	1	0.47mi
1610 Pleasant St Unit 1056041P Cincinnati, OH	3.0–4.0	2.0–3.0	2960	$4,370	$1.48	11d	2	0.51mi
55 Mulberry St Cincinnati, OH	3.0	3.0	2500	$3,500	$1.40	24d	1	0.55mi
2332 Chickasaw St Unit 1 Cincinnati, OH	3.0	1.0	2000	$1,800	$0.90	24d	1	0.61mi
1537 Republic St Unit 1058850P Cincinnati, OH	4.0	3.0	2421	$10,677	$4.41	22d	1	0.61mi
1424 Pleasant St Unit 1056038P Cincinnati, OH	4.0	3.0	2960	$7,167	$2.42	15d	1	0.65mi
2271 Vine St Cincinnati, OH	4.0	2.0	2268	$1,525	$0.67	5d	1	0.68mi
2386 Wheeler St Cincinnati, OH	4.0	1.0	1740	$2,700	$1.55	24d	1	0.73mi
21 E 15th St Unit 1512946P Cincinnati, OH	3.0	2.0	2852	$12,830	$4.50	24d	1	0.73mi
2388 Wheeler St Cincinnati, OH	4.0	2.0	1740	$2,700	$1.55	24d	1	0.73mi
328 Mulberry St Cincinnati, OH	3.0	3.5	2640	$5,500	$2.08	24d	1	0.83mi
328 Mulberry St Cincinnati, OH	3.0	3.5	2640	$5,500	$2.08	15d	1	0.83mi
1610 Sycamore St Cincinnati, OH	2.0	2.0	1600	$1,900	$1.19	11d	1	0.89mi
2704 W McMicken Ave Unit 2 Cincinnati, OH	3.0	1.0	1760	$1,500	$0.85	24d	1	0.89mi
120 E 13th St Unit 1056091P Cincinnati, OH	4.0	2.0	3229	$10,667	$3.30	22d	1	0.91mi
1354 Broadway Unit 1056136P Cincinnati, OH	4.0	3.0	2529	$7,307	$2.89	4d	1	1.01mi
216 Gilman Ave Unit 1363975P Cincinnati, OH	3.0	1.0	1776	$3,474	$1.96	4d	1	1.02mi
236 Gilman Ave Cincinnati, OH	3.0	2.5	1699	$2,200	$1.29	13d	1	1.07mi
1304 Broadway Unit 1056130P Cincinnati, OH	1.0–5.0	1.0–4.0	2072	$5,808	$2.80	11d	2	1.08mi
19 Garfield Pl Cincinnati, OH	1.0–2.0	1.0–2.0	1680	$2,260	$1.34	2d	11	1.14mi
516 E 12th St Unit 1314562P Cincinnati, OH	4.0	2.0	2023	$10,170	$5.03	24d	1	1.20mi
623 Riddle Rd Cincinnati, OH	3.0	2.0	2028	$1,800	$0.89	24d	1	1.23mi
2105 Burnet Ave Unit 1056017P Cincinnati, OH	4.0	2.0	2960	$7,384	$2.49	2d	1	1.24mi
2800 Jefferson Ave Cincinnati, OH	4.0	2.0	2500	$625	$0.25	21d	1	1.26mi
634 Sycamore St Cincinnati, OH	2.0	1.0–1.5	1261	$2,615	$2.07	5d	9	1.34mi
580 Walnut St Cincinnati, OH	2.0	1.0–2.5	1101	$4,822	$4.38	2d	19	1.34mi
345 E 7th St Cincinnati, OH	2.0	1.0–2.0	1184	$4,300	$3.63	4d	18	1.38mi
417 Vine St Cincinnati, OH	3.0	2.0	1602	$2,950	$1.84	15d	1	1.39mi
1 W 4th St Cincinnati, OH	3.0	1.0–3.5	1675	$9,200	$5.49	4d	96	1.44mi
2813 Gerard St Unit 1540075P Cincinnati, OH	4.0	3.0	2152	$6,281	$2.92	21d	1	1.46mi
595 Martin Luther King Dr W Cincinnati, OH	3.0	2.0	2048	$1,650	$0.81	11d	1	1.49mi

Listing history 9 events

1. 2026-06-09
   days on market $374,900 Active 61 DOM
2. 2026-06-08
   days on market $374,900 Active 60 DOM
3. 2026-06-07
   days on market $374,900 Active 59 DOM
4. 2026-06-03
   days on market $374,900 Active 55 DOM
5. 2026-06-02
   days on market $374,900 Active 54 DOM
6. 2026-06-01
   days on market $374,900 Active 53 DOM
7. 2026-05-31
   days on market $374,900 Active 52 DOM
8. 2026-05-04
   price $374,900
9. 2026-04-08
   listed $389,000 Active

ⓘ 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: $5,689 · $474/mo
• Projected year-2 tax: $5,769 · $481/mo
• Expected delta: +$80/yr (+$7/mo · 1.4%)

ⓘ 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 · 20 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: $43,512
• − Mortgage interest: −$21,000
• − Property taxes: −$5,689
• − Insurance: −$1,874
• − Repairs & maintenance: −$3,481
• − Management: −$3,481
• − Depreciation: −$10,906
• Taxable loss: −$2,920
• Est. tax savings @ 24.0%: +$701
• After-tax cash flow: $3,919/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): 8,630
• Household income: $27,852
• Rent vs Own: 76.1% rent · 23.9% own
• Severe rent burden: 857.0

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 Black (63%)
• Race & ethnicity: Black 63% White 27% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% 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: ▲ 15.01%
• Current HPI: 433.2346
• Rent YoY: ▲ 8.09%
• 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

-3.6% since first listed

2 events — show timeline

• 2026-05-04 Price Changed $374,900 Cincy MLS
• 2026-04-08 Listed $389,000 Cincy MLS

Property tax history

+10.4%/yr

Latest (2025): $5,689 · +0.1% YoY. Source: county tax records.