560 Terrace Ave Cincinnati, OH 45220
Clifton NeighborhoodEstimated payment $3,403/month
Highlights
- No HOA
- Wood Frame Window
- Storm Windows
- Walnut Hills High School Rated A+
- 2 Car Detached Garage
- Forced Air Heating and Cooling System
About This Home
Located in the highly desirable Gaslight Clifton neighborhood, 560 Terrace Ave is a solid all-brick three-family asset offering immediate income and long-term appreciation potential. Each unit features spacious layouts with strong tenant appeal, providing a reliable foundation for consistent occupancy. The property has been well maintained, minimizing near-term capital expenditures while preserving the opportunity for strategic value-add. Current rents are below market, presenting a clear path to increased cash flow through rent optimization and targeted improvements. Positioned near major hospitals, the University of Cincinnati, and a dense mix of retail and dining, this location supports strong rental demand and tenant retention, making it a stable investment in one of Cincinnati's most proven rental submarkets.Ideal for investors seeking a turn-key multi-family property with upside potential,560 Terrace offers both immediate income and the ability to enhance returns over t
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $8,866
Year Built
- Built in 1915
Lot Details
- 6,273 Sq Ft Lot
Parking
- 2 Car Detached Garage
- 2 Open Parking Spaces
- Rear-Facing Garage
- Driveway
- On-Street Parking
Home Design
- Brick Exterior Construction
- Stone Foundation
- Slate Roof
Interior Spaces
- 3,690 Sq Ft Home
- 3-Story Property
- Non-Functioning Fireplace
- Double Hung Windows
- Wood Frame Window
- Basement Fills Entire Space Under The House
- Storm Windows
Utilities
- Forced Air Heating and Cooling System
- Heating System Uses Gas
- Separate Meters
- Private Sewer
Community Details
Overview
- No Home Owners Association
Building Details
- Gross Income $54,000
- Net Operating Income $25,678
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $8,867 | $139,650 | $27,209 | $112,441 |
| 2024 | $8,855 | $139,650 | $27,209 | $112,441 |
| 2023 | $8,870 | $139,650 | $27,209 | $112,441 |
| 2022 | $7,616 | $109,614 | $24,343 | $85,271 |
| 2021 | $7,606 | $109,614 | $24,343 | $85,271 |
| 2020 | $7,628 | $109,614 | $24,343 | $85,271 |
| 2019 | $7,483 | $97,871 | $21,735 | $76,136 |
| 2018 | $7,489 | $97,871 | $21,735 | $76,136 |
| 2017 | $7,212 | $97,871 | $21,735 | $76,136 |
| 2016 | $7,917 | $104,825 | $21,252 | $83,573 |
| 2015 | $7,076 | $104,825 | $21,252 | $83,573 |
| 2014 | $7,114 | $104,825 | $21,252 | $83,573 |
| 2013 | $6,580 | $95,295 | $19,320 | $75,975 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 04/27/2026 04/27/26 | Pending | -- | -- | -- | |
| 04/17/2026 04/17/26 | For Sale | $499,000 | +25.1% | $135 / Sq Ft | |
| 12/21/2021 12/21/21 | Off Market | $399,000 | -- | -- | |
| 09/22/2021 09/22/21 | Sold | $399,000 | 0.0% | $108 / Sq Ft | View Prior Sale |
| 08/23/2021 08/23/21 | Pending | -- | -- | -- | |
| 08/12/2021 08/12/21 | For Sale | -- | -- | -- | |
| 07/01/2021 07/01/21 | Off Market | $399,000 | -- | -- | |
| 06/10/2021 06/10/21 | For Sale | $439,000 | -- | $119 / Sq Ft |
Source: MLS of Greater Cincinnati (CincyMLS)
MLS Number: 1874341
APN: 214-0002-0040-00
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