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4210 Lowry Ave — 4-unit Norwood
LTR candidate • Asking $359,900 • Est. rents $3,850/mo
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1149 Lanette Dr — Cincinnati Ranch
Fix & Flip / BRRRR candidate • Asking $179,000
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2767 Redfield Pl — Mt. Washington
Owner-occupant listing • Asking $295,000
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Parsing complete
85% confidence
Parsed Fields
Address
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Units
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Ask Price
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Gross Rent
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Annual Taxes
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Year Built
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Strategy
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Confirmed Unverified Estimated
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Working Assumptions
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Working Price
Interest Rate
Down Payment
Live Preview
1.55×
DSCR
+$871
Monthly CF
8.9%
Cash-on-Cash
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Score
3.8
Elevated Risk
1829 Lincoln Ave
Norwood, OH 45212 · MLS #1879489
LTR Avoid at list DOM 20 · 2-unit · Built 1890
Duplex · Long-Term Rental candidate
Deal Read
Will it cash flow?
No — not at list price. At $328K, estimated cash flow is −$369/mo with DSCR of 0.78×. The rent doesn’t cover the mortgage. Unit 2 is currently vacant, so income starts at $1,000/mo from day one — not $2,400. Even at optimistic fully-leased rents ($2,600/mo), the deal doesn’t cash flow positively until the price drops to around $230K — a 30% discount from ask. Your 8% CoC target requires a purchase price under $205K.
Can I recover capital?
Unlikely at list price. Norwood 2-unit ARV is estimated at $280–310K — the seller is asking $328K, which is at or above the estimated resale ceiling. There is no equity buffer at purchase. A BRRRR refinance is not viable: the stabilized NOI doesn’t support a loan large enough to recover the down payment. Capital recovery requires buying well below market, which the current ask doesn’t allow.
What’s my risk?
Four layered risks: (1) Unit 2 is vacant — you carry the full mortgage from day one with half the income. (2) The seller is marketing to owner-occupants and single-family converters, suggesting they’re pricing for retail, not investor economics. (3) Built 1890 on a stone foundation — the oldest vintage we’ve analyzed. Electrical, plumbing, and structural risk is materially higher than 1941-era stock. (4) Owner pays water — an ongoing cost that reduces NOI and doesn’t appear in the listing’s income figures.
Next Best Input
Pass or request seller basis before any deeper work
The math doesn’t support further analysis at list price. Before spending time on comps, inspection, or financing, ask: what did the seller pay and when? If they’re overleveraged and motivated, there may be room to negotiate toward MAO (~$205–230K). Otherwise, document and pass.
Key Metrics ⌄
List Price
$328,000
Investor MAO (1.25× DSCR)
~$205–230K
Gross Rent (Unit 1 confirmed) Confirmed
$1,000/mo
Gross Rent (Unit 2 asking) Unverified
$1,600/mo — vacant
Conservative gross rent Estimated
$2,400/mo
NOI (conservative) Estimated
$1,309/mo
DSCR @ list price
0.78×
Monthly CF @ list
−$369/mo
Gross rent yield
8.8%
Est. ARV
$280–310K
Annual taxes
$2,995/yr ($250/mo)
Analysis Confidence ⌄
Current confidence
61%
Taxes confirmed from MLS record. Unit 1 rent confirmed (occupied). Unit 2 rent is asking price only — vacant unit. ARV estimated from area comps. The negative verdict is reliable at any reasonable rent assumption; the exact MAO depends on Unit 2 rent confirmation.
✓
Address, parcel & unit count confirmed
✓
Unit 1 rent $1,000/mo confirmed (occupied M2M)
✓
Taxes $2,995/yr confirmed from MLS record
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Unit 2 vacant — $1,600 asking rent unconfirmed key variable
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ARV estimated — no recent Norwood 2-unit comps confirmed
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Insurance estimated — 1890 build, older-home surcharge likely
What Aperture Noticed ⌄
OO-Retail Pricing Signal
Listing explicitly markets to “investors, owner-occupants, or buyers seeking a future single-family conversion.” This is a hedged listing — seller is casting the widest possible net. Owner-occupant buyers can pay more than investors because they don’t need the property to cash flow. Investor MAO (~$205–230K) is 37–40% below ask. The seller appears to be pricing at OO retail value, not investor economics.
Vacancy Risk — Day-One Income Gap
Unit 2 (the larger 3BR unit, 1,315 sqft) is listed as vacant. This means on day one, gross income is $1,000/mo — not $2,600. At $1,000/mo income against a $1,678/mo mortgage, carrying costs burn ~$700+/mo until Unit 2 leases up. Lease-up timeline in Norwood for a 3BR at $1,600: estimate 30–60 days.
Owner-Pays Water — Hidden Cost
The listing states “water paid by owner.” For a 2-unit, this is ~$80–120/mo and does not appear in the MLS income schedule (which shows $0 for all expenses). This is a recurring cost that suppresses NOI and is easy to overlook when evaluating the listing-reported numbers.
1890 Build — Highest-Risk Vintage in Portfolio
At 136 years old, this is the oldest property analyzed on this platform. Stone foundation (not poured concrete). Pre-1978 lead paint is a certainty, not a risk. Knob-and-tube or aluminum wiring may still be present. Box gutters were replaced in 2021 (good); roof was replaced in 2009 (15 years old — approaching end of life). Upstairs furnace replaced 2021 (good). Budget a meaningful systems reserve regardless of cosmetic condition.
Deal does not meet investor criteria at list price. MAO ~$205–230K depending on Unit 2 rent confirmation.
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