5253 Lamme Rd · Moraine, OH 45439

$184,800

8 bd · 4.0 ba · 3,234 sqft · MultiFamily · 2 Days on market

Built 1979 Fair condition 0.39 ac lot Est $365k · 49% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.4/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Four-unit multifamily investment opportunity with strong value add potential. Each of the four units is currently configured with 2 bedrooms and 1 bathroom and a functional layout suitable for long term rental or a repositioning strategy. Property requires updates and is being sold as is, where is, with no seller repairs, making it well suited for an investor or rehab project. Each unit is reported to include a range, refrigerator, dishwasher, washer, and dryer. Existing mechanicals and electric water heaters are located within the building. Exterior features include small rear patio areas with side partition fencing; patio areas remain open between sections. The property shares a driveway

Key facts

• Functional layout
• 0.39 acre lot
• Built 1979

Tags

• STRONG VALUE ADD POTENTIAL
• FUNCTIONAL LAYOUT
• OFF STREET PARKING SPACES
• ACCESS TO LOCAL AMENITIES
• MAJOR TRANSPORTATION ROUTES

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: No garage; parking lot available
• Utilities: Public water and sewer (assumed based on property type); Electric service
• Home design: Single-story building
• Construction: Brick and frame construction; Slab foundation
• Exterior features: Residential zoning; Lot dimensions approximately 90.34', 181.86', 90', 189.53'

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bedrooms: Two-bedroom units (4 units total)
• Bathrooms: Four full bathrooms (total for property)
• Heating & cooling: Central air conditioning; Electric heating
• Interior features: Multi-unit property with four total units; Each unit is two-bedroom
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $185k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $606/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $185k).
• Cap rate 22.0% vs local median 5.5% in Moraine — 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 52/100 on livability (#1,167 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• West Carrollton City (suburban): math 34% / reading 46% proficiency, ranked #540 of 656 in OH (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 38 active listings in the ZIP; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $4,687/mo this rent would consume 108% of the median local household income ($52k/yr) (locally 381% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Montgomery County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $184,800

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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 2.54% ✓
• Cap rate: 22.04%
• Cash-on-cash: 56.25%
• DSCR: 3.50
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $365,442
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5341-5347 Belle Isle Dr	0.10mi	8/4.0	3,234 (0%)	22mo	$365,000	$113	77

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 54.6%
• Equity multiple: 3.41×
• Total profit: $124,614
• Equity at exit: $27,554

10-year hold

• IRR: 59.7%
• Equity multiple: 6.95×
• Total profit: $307,728
• Equity at exit: $15,978

Cash invested: $51,744 (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 45439

• Home prices YoY: -34.5%
• Active inventory: 38
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $4,687 high
• Mortgage (P&I): −$969
• Tax est. 1.5%: −$231 /mo · $2,772/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$984
• Net cashflow: $2,426

Break-even live

Break-even rent $1,617

Max offer price $184,800

Occupancy floor 43%

Sensitivity live

Price	-10% $2,553	-5% $2,489	+0% $2,426	+5% $2,362	+10% $2,298
Rent	-10% $2,055	-5% $2,240	+0% $2,426	+5% $2,611	+10% $2,796
Rate	-1.0pp $2,519	-0.5pp $2,473	base $2,426	+0.5pp $2,378	+1.0pp $2,329

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,688
Total (4 units)			$4,687

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: $46,200
• Closing costs: $5,544
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-07
   status Pending
2. 2026-05-05
   listed $184,800 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥101°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $56,244
• − Mortgage interest: −$10,352
• − Property taxes: −$2,772
• − Insurance: −$924
• − Repairs & maintenance: −$4,500
• − Management: −$4,500
• − Depreciation: −$5,376
• Taxable income: $27,821
• Est. tax owed @ 24.0%: −$6,677
• After-tax cash flow: $22,430/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This four-unit multifamily property requires moderate renovations, including painting and updating appliances, to improve its condition and value.

Repairs flagged

• Minor exterior paint — Paint appears faded and uneven
• Minor interior paint — Paint appears faded and uneven
• Minor kitchen appliances — Appliances appear functional but dated

Value-add opportunities

• Both Painting and updating kitchen appliances — Painting will improve curb appeal and updating appliances will modernize the space
• Both Landscaping improvements — Landscaping improvements will enhance curb appeal and attract potential tenants
• Both HVAC maintenance — Regular HVAC maintenance will improve comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · Paint appears faded and uneven	Minor	$500–3,000
interior paint · Paint appears faded and uneven	Minor	$500–3,000
kitchen appliances · Appliances appear functional but dated	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Painting and updating kitchen appliances — Painting will improve curb appeal and updating appliances will modernize the space ↑
• Both Landscaping improvements — Landscaping improvements will enhance curb appeal and attract potential tenants ↑
• Both HVAC maintenance — Regular HVAC maintenance will improve comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: West Carrollton City
• NCES district ID: 3904505
• Math proficiency: 34% ▼ -12.00%
• Reading proficiency: 46% ▼ -9.00%
• Median HH income: $42,209
• Composite: 33.71/100
• National rank: #5380
• State rank: #540 of 656 in OH

Livability — Moraine

• Score: 52/100
• State rank: #1167
• US rank: #25010

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety F User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Montgomery County · 459,541 people
• City population: 11,914
• Metro: Dayton-Kettering, OH
• Population (ZIP): 11,914
• Household income: $52,035
• Rent vs Own: 44.5% rent · 55.5% own
• Severe rent burden: 381.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 523,241 people
• By 2030: 514,948 · -1.6%
• By 2040: 493,378 · -5.7%
• By 2050: 469,639 · -10.2%
• By 2075: 418,360 · -20.0%
• By 2100: 353,315 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 15% Two or more races 10% Hispanic / Latino 9% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Italian 2% Iranian 1% Slovak 1%
• Foreign-born: 4% · Canada, China, Vietnam
• Languages at home: 93% English-only · Spanish 5% Chinese 1%

Political lean MEDSL · Montgomery

• 2024 margin: Toss-up / Even · D 49.8% · R 49.3%
• 2008→2024 swing: -5.8pp toward R · 2008: 6.2pp · 2024: 0.5pp
• All cycles: 2024: D+0.5 2020: D+2.2 2016: R+1.2 2012: D+3.1 2008: D+6.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.06%
• Current HPI: 287.2064
• Rent YoY: —
• Metro: Dayton-Kettering, OH
• 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

2 events — show timeline

• 2026-05-07 Pending — Dayton MLS
• 2026-05-05 Listed $184,800 Dayton MLS