2215 Salvador St · Cincinnati, OH 45230

$1,100,000

144 bd · None ba · — sqft · MultiFamily · 7 Days on market

Built 1972 0.25 ac lot

---

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 +26.9/30.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• 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 (5+ Unit). Listing-text estimate: 12 units. confirmed

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 MLS

12-1 bdrm units. Brick building. Each unit with balcony or patio. Rents have great potential. Long term tenants. Priced to sell.

Key facts

• Boiler heat
• 0.25 acre lot
• 15 parking spots

Tags

• BOILER HEAT
• SEPARATELY METERED ELECTRIC
• AMPLE SURFACE LOT PARKING
• DINING AND EVERYDAY AMENITIES
• DESIRABLE EAST SIDE LOCATION

Property features AI

Finance

• Financial info: Semi-annual taxes listed (see broker for details)

Exterior

• Parking: Approximately 15 open parking spaces; Off-street private lot parking
• Utilities: Public water; Public sewer; Natural gas service
• Home design: Multi-unit property (1 building, 12 units); Three+ story building
• Construction: Brick construction; Shingle roof; Poured foundation; Built on a 0.254-acre lot
• Exterior features: Vinyl windows; Concrete lot with off-street private parking

Interior

• Bedrooms: Twelve 1-bedroom units
• Heating & cooling: Gas heating with hot water system; Wall unit cooling; Heat paid by tenants; Separate utilities for gas and electric (separate meters); No separate furnace
• Interior features: Partial basement; Three or more levels; No fireplace

What this means for you Summary

Snapshot

• This is a 12 × 1-bed/1.0-bath units multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $3k ($37k/yr) — positive. Per door: $255/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $1.10M).
• Cap rate 9.6% 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 (+2.4%/yr); 64 active listings in the ZIP; solid renter incomes; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $12,258/mo this rent would consume 164% of the median local household income ($90k/yr) (locally 527% 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 $8k of loan paydown is wiped out by about $33k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.4% rent growth), your $308k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 13y 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 $152k; list at $1.10M implies a 624% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $1,100,000

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 1972 — 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. 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.
8. 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.
9. 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: 1.11% ✓
• Cap rate: 9.63%
• Cash-on-cash: 11.92%
• DSCR: 1.53
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.39% rent growth · sell at horizon

5-year hold

• IRR: 0.7%
• Equity multiple: 1.03×
• Total profit: $8,675
• Equity at exit: $164,014

10-year hold

• IRR: 9.8%
• Equity multiple: 1.74×
• Total profit: $226,413
• Equity at exit: $95,108

Cash invested: $308,000 (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 45230

• Rents YoY: 2.4%
• Active inventory: 64
• Price-to-rent: 89.7×

Monthly cashflow live

• Estimated rent: $12,258 high
• Mortgage (P&I): −$5,769
• Tax from tax record: −$398 /mo · $4,778/yr
• Insurance: −$458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,574
• Net cashflow: $3,059

Break-even live

Break-even rent $8,386

Max offer price $1,100,000

Occupancy floor 70%

Sensitivity live

Price	-10% $3,681	-5% $3,370	+0% $3,059	+5% $2,747	+10% $2,436
Rent	-10% $2,090	-5% $2,575	+0% $3,059	+5% $3,543	+10% $4,027
Rate	-1.0pp $3,613	-0.5pp $3,339	base $3,059	+0.5pp $2,774	+1.0pp $2,484

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

Units	Beds	Baths	Est. rent
▸ 12× units	1	1	$12,252
Total (12 units)			$12,258

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: $275,000
• Closing costs: $33,000
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $1,100,000 Active 7 DOM
2. 2026-06-17
   days on market $1,100,000 Active 6 DOM
3. 2026-06-16
   days on market $1,100,000 Active 5 DOM
4. 2026-06-15
   days on market $1,100,000 Active 4 DOM
5. 2026-06-13
   days on market $1,100,000 Active 2 DOM
6. 2026-06-13
   remarks 610-char remark
7. 2026-06-13
   listed $1,100,000 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: $4,778 · $398/mo
• Projected year-2 tax: $10,969 · $914/mo
• Expected delta: +$6,191/yr (+$516/mo · 129.6%)

ⓘ 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 ≥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 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $147,096
• − Mortgage interest: −$61,617
• − Property taxes: −$4,778
• − Insurance: −$5,500
• − Repairs & maintenance: −$11,768
• − Management: −$11,768
• − Depreciation: −$32,000
• Taxable income: $19,665
• Est. tax owed @ 24.0%: −$4,720
• After-tax cash flow: $31,986/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): 27,501
• Household income: $89,516
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 527.0

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 (86%)
• Race & ethnicity: White 86% Two or more races 7% Hispanic / Latino 4% Black 4% Asian 1%
• Common ancestry: Romanian 2% Iranian 2% Slovak 2%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 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: ▼ -231.96%
• Current HPI: 224.6954
• Rent YoY: ▲ 2.39%
• 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

+511.5% since first listed

4 events — show timeline

• 2026-06-11 Listed $1,100,000 Cincy MLS
• 2013-12-24 Sold (Public Records) $152,000 Public Records
• 2013-12-04 Sold (MLS) $152,000 Cincy MLS
• 2013-09-20 Listed $179,900 Cincy MLS

Property tax history

-5.4%/yr

Latest (2025): $4,778 · +0.7% YoY. Source: county tax records.