2620 Duck Creek Rd · Norwood, OH 45212

$425,000

16 bd · 16.0 ba · 2,560 sqft · MultiFamily · 33 Days on market

Built 1926

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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 +20.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +5.2/10.0
• Livability +4.0/5.0
• Schools +3.7/10.0
• Rent growth +2.6/5.0
• 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: 4 units. 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 MLS

Solid Four Family near Rookwood with Great Rental History, Hardwood, Parking, Glass Block, Newer Kitchens & Baths. owner/agent

Key facts

• Storage
• Own water heater
• Own furnace

Tags

• QUIET DEAD-END STREET
• OWN FURNACE
• OWN WATER HEATER
• STORAGE

Property features AI

Finance

• Other: Single building (one structure)
• Financial info: Four total rental units with listed monthly rents of $775, $825, $550, and $850

Exterior

• Parking: Driveway parking; Four open parking spaces
• Utilities: Public water; Public sewer; Natural gas
• Home design: Quad (four-unit) building; Two levels
• Construction: Brick construction; Block foundation; Shingle roof
• Exterior features: Asphalt driveway; Vinyl windows; No fireplace

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Four 1-bedroom units
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Forced air heating; Window-unit cooling; Natural gas available; Heat paid by owner; Water paid by owner
• Interior features: Full basement
• Laundry & utility: Separate furnace for units; Separate gas and electricity meters

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $580 ($7k/yr) — positive. Per door: $145/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $425k).
• Recommended offer: $412k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 4.8% in Norwood — 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 79/100 on livability (#154 in OH, #2,322 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime C-, employment C-, amenities D+.
• Norwood City (suburban): math 35% / reading 53% proficiency, ranked #513 of 656 in OH (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 56 active listings in the ZIP; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $4,320/mo this rent would consume 72% of the median local household income ($72k/yr) (locally 1192% 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 $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($412k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y 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 $185k; list at $425k implies a 130% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $412,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% 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 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.02% ✓
• Cap rate: 7.93%
• Cash-on-cash: 5.85%
• DSCR: 1.26
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.21% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.63×
• Total profit: $-43,696
• Equity at exit: $63,369

10-year hold

• IRR: -5.3%
• Equity multiple: 0.70×
• Total profit: $-36,228
• Equity at exit: $36,746

Cash invested: $119,000 (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 45212

• Rents YoY: 0.2%
• Active inventory: 56
• Price-to-rent: 32.8×

Monthly cashflow live

• Estimated rent: $4,320 high
• Mortgage (P&I): −$2,229
• Tax from tax record: −$427 /mo · $5,118/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$907
• Net cashflow: $580

Break-even live

Break-even rent $3,585

Max offer price $425,000

Occupancy floor 82%

Sensitivity live

Price	-10% $821	-5% $701	+0% $580	+5% $460	+10% $340
Rent	-10% $239	-5% $410	+0% $580	+5% $751	+10% $922
Rate	-1.0pp $794	-0.5pp $689	base $580	+0.5pp $470	+1.0pp $358

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$4,320
Total (4 units)			$4,320

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $425,000 Active 33 DOM
2. 2026-06-18
   days on market $425,000 Active 30 DOM
3. 2026-06-17
   days on market $425,000 Active 29 DOM
4. 2026-06-16
   days on market $425,000 Active 28 DOM
5. 2026-06-15
   days on market $425,000 Active 27 DOM
6. 2026-06-13
   days on market $425,000 Active 25 DOM
7. 2026-06-09
   days on market $425,000 Active 21 DOM
8. 2026-06-08
   days on market $425,000 Active 20 DOM
9. 2026-06-07
   days on market $425,000 Active 19 DOM
10. 2026-06-03
    days on market $425,000 Active 15 DOM
11. 2026-06-02
    days on market $425,000 Active 14 DOM
12. 2026-06-01
    days on market $425,000 Active 13 DOM
13. 2026-05-31
    days on market $425,000 Active 12 DOM
14. 2026-05-13
    listed $425,000 Active
15. 2018-01-29
    soldstatus $185,000
16. 2018-01-22
    soldstatus $185,000 Sold 130-char remark

    Show marketing remark (130 chars)

    Solid Four Family near Rookwood with Great Rental History, Hardwood, Parking, Glass Block, Newer Kitchens & Baths. owner/agent

17. 2017-11-20
    historical Accept Backup Offers 130-char remark

    Show marketing remark (130 chars)

    Solid Four Family near Rookwood with Great Rental History, Hardwood, Parking, Glass Block, Newer Kitchens & Baths. owner/agent

18. 2017-10-17
    listed $189,900 Active 130-char remark

    Show marketing remark (130 chars)

    Solid Four Family near Rookwood with Great Rental History, Hardwood, Parking, Glass Block, Newer Kitchens & Baths. owner/agent

19. 2006-09-29
    soldstatus $132,200
20. 2001-10-23
    soldstatus $123,700
21. 2000-08-01
    soldstatus $80,000
22. 2000-07-26
    soldstatus $80,000 68-char remark

    Show marketing remark (68 chars)

    Bank Repo - 4 Family Building In Convenient Location, Full Basement.

23. 2000-03-01
    listed $84,900 68-char remark

    Show marketing remark (68 chars)

    Bank Repo - 4 Family Building In Convenient Location, Full Basement.

24. 1989-12-21
    soldstatus $54,000
25. 1988-02-24
    soldstatus $39,000
26. 1986-02-11
    soldstatus $41,000

ⓘ 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: $5,118 · $427/mo
• Projected year-2 tax: $5,874 · $490/mo
• Expected delta: +$756/yr (+$63/mo · 14.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% 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: $51,840
• − Mortgage interest: −$23,807
• − Property taxes: −$5,118
• − Insurance: −$2,125
• − Repairs & maintenance: −$4,147
• − Management: −$4,147
• − Depreciation: −$12,364
• Taxable income: $132
• Est. tax owed @ 24.0%: −$32
• After-tax cash flow: $6,934/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: Norwood City
• NCES district ID: 3904457
• Math proficiency: 35% ▼ -24.00%
• Reading proficiency: 53% ▼ -11.00%
• Median HH income: $38,750
• Composite: 36.66/100
• National rank: #4614
• State rank: #513 of 656 in OH

Livability — Norwood

• Score: 79/100
• State rank: #154
• US rank: #2322

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norwood, OH
• County: Hamilton County · 701,295 people
• City population: 21,526
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 21,526
• Household income: $72,422
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 1192.0

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 (73%)
• Race & ethnicity: White 73% Black 15% Hispanic / Latino 8% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 92% English-only · Spanish 6% Arabic 1% Russian/Polish/Slavic 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: ▼ -209.95%
• Current HPI: 295.7088
• Rent YoY: ▲ 0.21%
• 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

+936.6% since first listed

13 events — show timeline

• 2026-05-13 Listed $425,000 Cincy MLS
• 2018-01-29 Sold (Public Records) $185,000 Public Records
• 2018-01-22 Sold (MLS) $185,000 Cincy MLS
• 2017-11-20 Contingent — Cincy MLS
• 2017-10-17 Listed $189,900 Cincy MLS
• 2006-09-29 Sold (Public Records) $132,200 Public Records
• 2001-10-23 Sold (Public Records) $123,700 Public Records
• 2000-08-01 Sold (Public Records) $80,000 Public Records
• 2000-07-26 Sold (MLS) $80,000 Cincy MLS
• 2000-03-01 Listed $84,900 Cincy MLS
• 1989-12-21 Sold (Public Records) $54,000 Public Records
• 1988-02-24 Sold (Public Records) $39,000 Public Records
• 1986-02-11 Sold (Public Records) $41,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $5,118 · +0.3% YoY. Source: county tax records.