3636 Reading Rd · Cincinnati, OH 45229

$349,900

4 bd · 4.0 ba · 3,752 sqft · MultiFamily public records · 11 Days on market

Built 1900 8,276 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +3.9/5.0
• 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: 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

Stabilized four family in the heart of Avondale! New windows, new electric, new plumbing, new flooring, new kitchens/bathrooms (2020), and new sewer line (2023)! Next to recreation center and on bus line! Unit mix: Two 1bdrm's, One 2bdrm, & One 3bdrm. Currently 75% occupied!

Key facts

• New kitchens
• New plumbing
• New flooring

Tags

• NEW WINDOWS
• NEW ELECTRIC
• NEW PLUMBING
• NEW FLOORING
• NEW KITCHENS
• NEW BATHROOMS

Property features AI

Finance

• Other: Property contains one building; Parcel and tax identifiers on file
• Financial info: Income info by unit: Unit 1 rent $1,150; Unit 3 rent $995; Unit 4 rent $825
• HOA & community: Maintenance expense listed

Exterior

• Parking: Driveway with approximately 4 open parking spaces
• Utilities: Water at street; Gas at street; Public sewer; Gas and electric service noted
• Home design: Quad (four-unit) building; Second floor area noted
• Construction: Brick exterior; Block foundation; Shingle roof; Aluminum windows; Built-up second floor area
• Exterior features: Front porch; Busline nearby

Interior

• Bedrooms: Four units total: two 1-bedroom units, one 2-bedroom unit, one 3-bedroom unit; Unit-level bedroom counts: Unit 1 – 1 bedroom, Unit 2 – 3 bedrooms, Unit 3 – 2 bedrooms, Unit 4 – 1 bedroom
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Baseboard heating (electric); Window-unit cooling
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 4 × 7-bed/4.0-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $3k ($36k/yr) — positive. Per door: $751/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $350k).
• Cap rate 16.6% 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 fast (+5.5%/yr); 49 active listings in the ZIP; lower-income renter base — watch delinquency; 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).
• At $6,671/mo this rent would consume 248% of the median local household income ($32k/yr) (locally 1730% 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $98k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 16 sale attempts since 22y 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 $80k; list at $350k implies a 338% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $349,900

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 1900 — 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: 1.91% ✓
• Cap rate: 16.59%
• Cash-on-cash: 36.79%
• DSCR: 2.64
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $202,608
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
766 E Mitchell Ave	0.62mi	4/—	3,820 (+2%)	9mo	$205,000	$54	60
1041 Dana Ave	0.39mi	5/4.0 (+1)	4,265 (+14%)	21mo	$379,900	$89	37
3474 Harvey Ave	0.66mi	5/2.0 (+1)	4,288 (+14%)	13mo	$126,000	$29	22

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

Projected returns pro-forma

-3.0% appreciation · 5.55% rent growth · sell at horizon

5-year hold

• IRR: 35.4%
• Equity multiple: 2.55×
• Total profit: $152,162
• Equity at exit: $52,171

10-year hold

• IRR: 43.5%
• Equity multiple: 5.64×
• Total profit: $454,750
• Equity at exit: $30,253

Cash invested: $97,972 (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 45229

• Home prices YoY: -24.0%
• Rents YoY: 5.5%
• Active inventory: 49
• Price-to-rent: 17.5×

Monthly cashflow live

• Estimated rent: $6,671 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$286 /mo · $3,429/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,401
• Net cashflow: $3,004

Break-even live

Break-even rent $2,869

Max offer price $349,900

Occupancy floor 50%

Sensitivity live

Price	-10% $3,202	-5% $3,103	+0% $3,004	+5% $2,905	+10% $2,806
Rent	-10% $2,477	-5% $2,740	+0% $3,004	+5% $3,267	+10% $3,531
Rate	-1.0pp $3,180	-0.5pp $3,093	base $3,004	+0.5pp $2,913	+1.0pp $2,821

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

Units	Beds	Baths	Est. rent
▸ 4× units	7	4	$6,672
Total (4 units)			$6,671

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-18
   days on market $349,900 Active 11 DOM
2. 2026-06-17
   days on market $349,900 Active 10 DOM
3. 2026-06-16
   days on market $349,900 Active 9 DOM
4. 2026-06-15
   days on market $349,900 Active 8 DOM
5. 2026-06-13
   days on market $349,900 Active 6 DOM
6. 2026-06-13
   days on market $349,900 Active 5 DOM
7. 2026-06-09
   days on market $349,900 Active 2 DOM
8. 2026-06-08
   remarks 312-char remark
9. 2026-06-08
   remarks 296-char remark
10. 2026-06-08
    listed $349,900 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: $3,429 · $286/mo
• Projected year-2 tax: $4,444 · $370/mo
• Expected delta: +$1,015/yr (+$85/mo · 29.6%)

ⓘ 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 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $80,052
• − Mortgage interest: −$19,600
• − Property taxes: −$3,429
• − Insurance: −$1,750
• − Repairs & maintenance: −$6,404
• − Management: −$6,404
• − Depreciation: −$10,179
• Taxable income: $32,286
• Est. tax owed @ 24.0%: −$7,749
• After-tax cash flow: $28,295/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): 13,529
• Household income: $32,263
• Rent vs Own: 69.4% rent · 30.6% own
• Severe rent burden: 1730.0

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 Black (65%)
• Race & ethnicity: Black 65% White 24% Two or more races 5% Hispanic / Latino 4% Asian 1%
• Common ancestry: Italian 2% Iranian 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 4% Russian/Polish/Slavic 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: ▼ -80.34%
• Current HPI: 254.492
• Rent YoY: ▲ 5.55%
• 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

+500.7% since first listed

41 events — show timeline

• 2026-06-06 Listed $349,900 Cincy MLS
• 2026-04-30 Listing Removed — Cincy MLS
• 2026-01-25 Price Changed $365,000 Cincy MLS
• 2025-11-07 Price Changed $379,900 Cincy MLS
• 2025-05-19 Price Changed $399,900 Cincy MLS
• 2025-03-21 Listed $414,900 Cincy MLS
• 2024-12-31 Listing Removed — Cincy MLS
• 2024-06-06 Listed $414,900 Cincy MLS
• 2024-03-31 Listing Removed — Cincy MLS
• 2024-01-03 Listed $399,900 Cincy MLS
• 2023-12-31 Listing Removed — Cincy MLS
• 2023-12-13 Price Changed $275,000 Cincy MLS
• 2023-11-24 Rental Removed $825 APPFOLIO
• 2023-10-11 Listed $399,900 Cincy MLS
• 2023-10-05 Listed for Rent $825 APPFOLIO
• 2023-09-15 Listing Removed — Cincy MLS
• 2023-09-03 Listed $324,900 Cincy MLS
• 2023-07-01 Listing Removed — Cincy MLS
• 2023-06-30 Price Changed $324,900 Cincy MLS
• 2023-01-18 Price Changed $324,900 Cincy MLS
• 2023-01-03 Relisted — Cincy MLS
• 2022-12-31 Listing Removed — Cincy MLS
• 2022-06-23 Relisted — Cincy MLS
• 2022-06-22 Contingent — Cincy MLS
• 2022-05-26 Relisted — Cincy MLS
• 2022-05-20 Contingent — Cincy MLS
• 2022-02-10 Relisted — Cincy MLS
• 2022-02-07 Contingent — Cincy MLS
• 2022-01-16 Price Changed $695 APPFOLIO
• 2021-12-08 Listed $275,000 Cincy MLS
• 2009-02-23 Listing Removed — Cincy MLS
• 2008-12-22 Listed $19,900 Cincy MLS
• 2007-09-08 Listing Removed — Cincy MLS
• 2007-04-29 Listed $114,900 Cincy MLS
• 2007-04-28 Listing Removed — Cincy MLS
• 2007-03-07 Listed $114,900 Cincy MLS
• 2005-04-25 Sold (Public Records) $79,900 Public Records
• 2005-04-01 Sold (MLS) $79,000 Cincy MLS
• 2004-10-26 Listed $85,900 Cincy MLS
• 1993-12-01 Sold (Public Records) $28,000 Public Records
• 1987-01-02 Sold (Public Records) $58,250 Public Records

Property tax history

+31.8%/yr

Latest (2025): $3,429 · +0.7% YoY. Source: county tax records.