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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
Aperture uses these to model your scenario. You can refine at Validate.
Working Price
Interest Rate
Down Payment
Live Preview
1.55×
DSCR
+$871
Monthly CF
8.9%
Cash-on-Cash
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Analyzing deal
Analyzing your deal...
Parsing listing data
Tax Rate Agent — Norwood OH assessor
Rent Comp Agent — 4-unit proximate comps
Prior Sale Agent — transfer history
Financing Agent — DSCR + waterfall
Synthesis Agent — scoring + deal read
← Pipeline
Score
5.8
Conditional
4210 Lowry Ave
Norwood, OH 45212
LTR Conditional DOM 84 · 4-unit · Built 1941
Potential Strategy · Long-Term Rental
Deal Read
Will it cash flow?
Yes — at $310K, estimated +$871/mo net cash flow with DSCR of 1.55× (loan $232.5K @ 7.25%). Even at list price ($359,900) the deal clears 1.33× DSCR, though the margin is thinner. The “Conditional” verdict is about rent confidence, not marginal math.
Can I recover capital?
Estimated ARV $365–385K vs. all-in capital of ~$117K at $310K. At ARV midpoint ($375K) vs. all-in cost ($310K + $30K rehab/closing), day-one equity is ~$35K. BRRRR refi path exists at stabilized NOI, pending rent confirmation.
What’s my risk?
Rents are unconfirmed. DOM is 84 days (3× Norwood median) — price resistance is real. Sold 13 months ago at $287K with no permits pulled since. Built 1941: lead-paint workflow required for rehab.
Next Best Input
Request rent roll from agent
Rents are the single biggest confidence lever at this stage. Current estimate ($3,850/mo) is listing-sourced — unconfirmed. Confirm rent roll before spending time on validation.
Key Metrics ⌄
List Price
$359,900
Working Price
$310,000
Gross Rent (est.) Unverified
$3,850/mo
NOI (est.)
$2,457/mo
DSCR @ $310K
1.55×
Monthly CF
+$871
Cash-on-Cash
8.9%
Gross Rent Yield
14.9%
ARV (est.)
$365–385K
MAO
$318K
Analysis Confidence ⌄
Current confidence
42%
→
Potential
88%
✓
Address & parcel confirmed
⊖
Rents unverified +28% if confirmed
⊖
Taxes listing-sourced +11% if confirmed
~
Insurance estimated Area est.
What Aperture Noticed ⌄
Prior Sale Signal
Sold 13 months ago at $287K. No permits pulled since. Current ask at $359,900 represents a 25% markup in 13 months with no documented improvement — seller may be testing the market.
DOM Outlier
84 days on market vs. Norwood median of ~28 days. Extended DOM at this price point suggests buyer resistance. Leverage for negotiation toward $310K target.
Lead-Paint Workflow
Built 1941. Any rehab scope over $500 requires EPA RRP-certified contractor. Price cosmetic work accordingly and confirm certification at Close.
Validate pricing, financing, and downside exposure against your criteria
← Screen
4210 Lowry Ave — Validate
Working price $310,000 · 4-unit LTR · Norwood OH
42% confidence
B1 — Rent Confirmation Unverified
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Estimated gross rent is $3,850/mo from listing. Confirm with rent roll or agent. A $250/mo miss changes cash flow by ~$190/mo.
⊖ $3,850/mo est. — tap to confirm
B2 — Tax Confirmation Unverified
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Taxes estimated at $4,200/yr ($350/mo) from listing. Norwood investor effective rate ~1.76%. Post-sale reassessment may increase to ~$5,400/yr. Confirm with assessor.
⊖ $350/mo est. — tap to confirm
B3 — Insurance Estimated
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Insurance modeled at $1,800/yr ($150/mo) — area estimate for 4-unit 1940s construction. Built 1941: expect older-home surcharge. Get quote before Validate is complete.
⊖ $150/mo est. — tap to confirm
B4 — Rehab & Capital Estimated
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Cosmetic scope estimated at $18K based on listing photos. Built 1941 — assume lead-paint protocol ($2–4K adder). System reserves budgeted at $5K Y1 regardless of “fully remodeled” language.
Cosmetic rehab
$18,000
Lead-paint protocol
$3,000
Turn costs (vacancy)
$2,400
Y1 capital reserve
$5,000
Total rehab & capital $28,400
B5 — Cash Flow Waterfall Live
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ItemMonthly
Gross Rent $3,850
  Vacancy (5%) ($193)
  Management (8%) ($308)
  Taxes Unverified ($350)
  Insurance Estimated ($150)
  Maintenance (5% EGI) ($183)
  CapEx reserve ($125)
  Admin / utilities ($100)
NOI $2,457
  Debt Service ($232.5K @ 7.25%) ($1,586)
Net Cash Flow +$871
1.55×
DSCR
8.9%
Cash-on-Cash
72%
Break-even Occ.
B6 — Pricing & Offer Estimated
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List Price
$359,900
MAO (at target yield)
$318,000
Working Offer
$310,000
Negotiation leverage
84-day DOM
Confirm rents and tax to unlock full close-stage confidence
← Validate
4210 Lowry Ave — Close
Negotiated $308,000 · Accepted · 4-unit LTR
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Aperture Flag — PTFA Applies
Property is occupied at contract. Federal PTFA protections apply to existing tenants. Confirm lease terms, notice requirements, and any month-to-month tenancy status with your attorney or agent before proceeding to close.
Close Checklist
3 / 8 complete
C1
Negotiated Price
Complete
Negotiated Price
$308,000
vs. List
-$51,900 (14.4%)
DSCR at $308K
1.56×
C2
Lender Term Sheet
Complete
Loan Amount
$231,000
Rate / Term
7.25% / 30yr
LTV
75%
Monthly P&I
$1,576
C3
Title Commitment
Blocked
Open Item
Schedule B-I exception outstanding — prior lien discharge not yet recorded. Title company requires payoff confirmation before issuing clean Schedule B-II.
Receive clear title commitment from title company
C4
Inspection Findings
Pending
General inspection scheduled. Built 1941 — expect HVAC, plumbing, and electrical review items. Lead-paint test required for rehab scope.
✓
General inspection scheduled
Inspection report received
Lead-paint test completed
Major findings incorporated into repair escrow or price adjustment
C5
Insurance Binder
Complete
Hazard premium
$2,100/yr
Flood zone
Zone X (no req.)
Binder issued
Yes
C6
Contractor Bid Range
Pending
Cosmetic scope estimated $18K + lead protocol $3K. Get at least one contractor walkthrough bid before Close. RRP-certified contractor required for pre-1978 work.
Contractor walkthrough scheduled
Bid received and within scope estimate
RRP-certified contractor confirmed
C7
Closing Checklist & Cash-to-Close
Pending
Down payment (25%)
$77,000
Closing costs (~3%)
$9,240
Rehab reserve
$21,000
6-mo PITIA reserve
$12,135
Total cash required
$116,695
✓
Closing Disclosure reviewed and reconciled to model
✓
Wire instructions confirmed with title
Funds wired and confirmed
C8
Final IRR & Hold Period Model
Complete
5-yr IRR 9.2%
10-yr IRR 11.4%
10-yr total return $214,000
Assumed exit cap 7.25%
Assumed rent growth 2.5%/yr
Next Best Input
Resolve title exception to unblock close
The Schedule B-I open lien exception is the only hard blocker. Request payoff confirmation from seller’s attorney. Once cleared, title can issue Schedule B-II and you’re clear to close.
← Pipeline
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
~
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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