Cincinnati Neighborhood Advice

14 Replies

I'm in AZ but looking to start my REI adventure out of state, and Cincinnati is on my radar. I've found something that needs work in the Mt. Auburn neighborhood. Does anyone have experience in this neighborhood? I would want to buy something to rent out.

Covington, Robling Bridge, and Main Strauss have also been recommended to me and I'd love thoughts on them, too.

Thanks in advance!

Hi! I'm a new investor, and also newer to Cincinnati, but I think there is definitely money to be made in Mt Auburn, especially since the University of Cincinnati and downtown are so close. There seems to be new development/rehabbing going on in Mt Auburn. Definitely following this thread to see what other more experienced investors think of the neighborhood! 

Mt. Auburn is seeing some pickup in interest especially with the investment Children's Hospital is making to its building. Still a lot of rough buildings in the area. If it is a buy and hold I would suggest lining up a PM and ask them if they would manage the particular building you are interested in.

Mt. Auburn is historically a low income neighborhood, with a mix of some UC students as well. However, with the significant development happening in the area, it's in the path of progress. A well placed investment could do well here. This is neighborhood that you should consider block by block.

Mt. Auburn is a historic neighborhood but just like a majority of other neighborhoods pockets of Mt. Aurburn previously had lower income areas which has been mostly either torn down or being redone such as the Wellington development that took over Wellington Place and parts of old Glencoe. A little history... Mt. Auburn was historically known for an escape as a place where wealthier people moved to, to escape the crowdedness of the lower city known as Downtown. Over time that changed and now it is changing back to an area where there is a mix of families and young professionals because it's such a central location. Being that the area is close to Chirst Hospital, UC and Downtown its definitely a good area to invest in overall.

We are local investors with over 75 properties to our name & we do have a few in this area. Like Paul said, it is improving but lot of rough blocks. If you are having just one or two properties, definitely I would recommend having a property manager (we manage all ours as well as for few other out of state investors through our brokerage company) so that you don't get sucked into myriad tenant issues.

I lived in Mt. Auburn for 10 years and still own a well-performing rental property there. Specifically in "Prospect Hill" which is the three block historic, hillside district on the southeast corner of Mt. Auburn with panoramic views of downtown, Mt Adams, and the Ohio River. Like many of The Queen City's urban neighborhoods Mt. Auburn has entire blocks of ornate, historic homes built during the city's most prosperous era in the early 1800's. Mt. Auburn is considered Cincinnati's first suburb once occupied by the social elite who wanted to escape the crowded conditions of the lower city most notably President William Howard Taft.

My Mt. Auburn rental has been very good to me located within walkable distance to OTR & Pendleton's many hotspots, breweries, and parks, specifically Zielger Park and Washington Park. Sandwiched between major development of the OTR and Pendleton neighborhoods to it's South and Christ hospital development and major development of the Uptown neighborhood on the Northern border, Mt. Auburn has seen massive growth in the past decade but there is still plenty of opportunity as there are still plenty of entire streets that have not seen much development. 

When I first moved to Prospect Hill in 2009, four of the seven condos in my condo association were vacant but of the three that were occupied my neighbors consisted of a young couple who both worked at P&G, a UC professor who had been there since the 90's, and a single dude who worked at GE in Evendale. Fast forward to today our association is fully occupied and has never been healthier (big surprise I know). 

If you like Mt. Auburn you should take a look at Walnut Hills which has for some time now been considered the next OTR, (strictly in terms of the amount of development and growth) 

Covington, Main Strauss, and Roebling Point have also seen recent growth and are very attractive for cash flow investors considering  Kentucky's lower taxes. 
 



  

I invest in Cinci, but don’t anything in Mt Auburn, so cant speak to it. However, I also own several properties over the River in Covington and there is loads of potential there! Mainstrausse I think is already overpriced. But if you can find a deal, it’s a super hot market at the moment! Best of luck to you guys!

Hi Amelia, send me a PM and I'll be more than happy to recommend the BEST (in my opinion) property manager in the area!

@John Wright @Priya Thomas @Natasha Young  

Thanks all for the detailed info here - I have a few multi-fams in the Bay Area in CA (purchased 2009/10) but since then there has not be anything remotely interesting here in my area. 

As such, I'm evaluating many markets for some upcoming long-distance investments, and Cincinnati is high on the list.  

Specifically a few properties in 45211 Fairmount/Westwood area. Thoughts on this area? 

The main goal is cash-flow (I'm ok with C/D neighborhoods) but want to make sure this is not a war-zone. 

Will also need a good agent and PM, if you have any recommendations.

Any info much appreciated.  

@Jose Fernandez my suggestion, if you are investing from out of state, is to stay away from those areas. You need a great PM to take care of your properties, and they won't take on your properties in those areas - there isn't enough in it for them to warrant spending time there. If you are out of state, I'd focus 1st on finding a PM you trust and go where they guide you. 

@Amelia M. What are the reason you selected Cincy and does that neighborhood and type/class of property for in with those reasons for investing in that area? If you are going to invest remotely you can pick anywhere.

- will you be traveling to that area?

If so are there driect flights?

- what are the added costs of investing remote in that area?

- will it keep you up at night worrying about a PM in a lower class area and the expenses that increase in a lower area in an old property.

I live in Norfolk VA and will be closing on a MHP in the Cincy MSA in a couple weeks. These are some of the issues we had to get comfortable with before we made the leap out of our local MSA.

I think Cincy has upside and could see a solid 5-10 upside but are you okay if there isn't. I guess might point is are you happy even if it is simply stable for the future and can you profits overcome the distance.