559/561 Evergreen Ave · Dayton, OH 45402

$107,400

3 bd · 2.0 ba · 1,368 sqft · MultiFamily public records · 184 Days on market

Built 1929 Est $133k · 19% 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
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

INVESTOR ALERT — CASH-FLOWING DUPLEX WITH EVEN MORE UPSIDE! This well-maintained duplex is already generating $1,200/month with long-term tenants on month-to-month leases. Both units are rented at below-market rates ($600 each), offering immediate potential to increase rents to $750–$800/unit with light cosmetic updates. Additional highlights: 2024 roof replacement—major expense already handled Tenants pay for all electric, lowering operating costs Expandable layout: unfinished basement offers opportunity to add a 3rd unit or additional living space Flexible floor plan allows easy conversion back to a single-family home Great for first-time investors looking to own an income-producing property while learning real estate management on a small, manageable scale, with a solid 9.3% cap rate right from the start. Perfect for buy-and-hold investors or anyone looking to add stable, appreciating cash flow to their portfolio. Sold As-Is.

Key facts

• Long-term tenants
• Unfinished basement
• Expandable layout

Tags

• CASH-FLOWING DUPLEX
• LONG-TERM TENANTS
• BELOW-MARKET RATES
• 2024 ROOF REPLACEMENT
• UNFINISHED BASEMENT
• EXPANDABLE LAYOUT

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $107k.

Deal economics

• At list price, monthly cash flow is $787 ($9k/yr) — positive. Per door: $393/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $107k).
• Recommended offer: $95k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.1% vs local median 7.4% in Dayton — 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 65/100 on livability (#716 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools C-, amenities C-, crime F.
• Dayton City (urban): math 12% / reading 21% proficiency, ranked #641 of 656 in OH (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+4.0%/yr); 83 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $1,837/mo this rent would consume 46% of the median local household income ($48k/yr) (locally 404% 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 $743 of loan paydown is wiped out by about $3k 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 + 4.0% rent growth), your $30k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 184 days — a 12% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $13k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $23k; list at $107k implies a 367% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $94,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 184 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.71% ✓
• Cap rate: 15.08%
• Cash-on-cash: 31.39%
• DSCR: 2.40
• GRM: 4.9

CMA / ARV

• ARV (median comp): $133,093
• List price: $107,400
• Delta: -19.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
314 Lorenz Ave	0.32mi	4/2.0 (+1)	1,268 (-7%)	19mo	$165,000	$130	52
729 N Upland Ave	0.65mi	3/3.0	1,518 (+11%)	24mo	$148,500	$98	27

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 · 3.98% rent growth · sell at horizon

5-year hold

• IRR: 27.3%
• Equity multiple: 2.15×
• Total profit: $34,507
• Equity at exit: $16,014

10-year hold

• IRR: 35.4%
• Equity multiple: 4.40×
• Total profit: $102,137
• Equity at exit: $9,286

Cash invested: $30,072 (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 45402

• Rents YoY: 4.0%
• Active inventory: 83
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,837 high
• Mortgage (P&I): −$563
• Tax from tax record: −$57 /mo · $679/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $787

Break-even live

Break-even rent $841

Max offer price $107,400

Occupancy floor 52%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,838
Total (2 units)			$1,837

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: $26,850
• Closing costs: $3,222
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
725 Maplehurst Ave Dayton, OH	2.0	1.0	1104	$895	$0.81	43d	1	0.14mi
635 Anna St Dayton, OH	3.0	1.0	960	$1,300	$1.35	14d	1	0.14mi
437 Lorenz Ave Dayton, OH	3.0	1.0	1322	$1,200	$0.91	23d	1	0.17mi
660 Gramont Ave Dayton, OH	3.0	1.0	1142	$1,050	$0.92	3d	1	0.18mi
617 Westwood Ave Dayton, OH	3.0	1.0	1304	$1,050	$0.81	43d	1	0.30mi
1045 Philadelphia Dr Dayton, OH	2.0	1.0	1290	$1,150	$0.89	2d	1	0.36mi
1045 Shakespeare Ave Dayton, OH	3.0	1.0	1435	$1,275	$0.89	43d	1	0.37mi
920 Huron Ave Dayton, OH	2.0	1.0	950	$995	$1.05	3d	1	0.41mi
216 N Ardmore Ave Dayton, OH	3.0	1.0	1500	$1,100	$0.73	3d	1	0.43mi
1816 N James H McGee Blvd Unit C Dayton, OH	3.0	1.0	950	$1,150	$1.21	2d	1	0.59mi
1816 N James H McGee Blvd Apt B Dayton, OH	3.0	1.0	950	$1,150	$1.21	43d	1	0.59mi
1816 N James H McGee Blvd Apt A Dayton, OH	3.0	1.0	950	$1,200	$1.26	2d	1	0.59mi
863 N Upland Ave Dayton, OH	3.0	1.0	1042	$1,200	$1.15	43d	1	0.60mi
70 Gramont Ave Dayton, OH	3.0	1.5	966	$1,300	$1.35	2d	1	0.65mi
3220 Princeton Dr Dayton, OH	3.0	1.0	900	$1,000	$1.11	43d	1	0.71mi
3925 Hoover Ave Dayton, OH	2.0	1.0	936	$1,100	$1.18	2d	1	0.81mi
1119 Superior Ave Unit 1119 Dayton, OH	3.0	1.0	1435	$1,350	$0.94	3d	1	0.83mi
40 S Mathison St Dayton, OH	3.0	1.0	1300	$1,200	$0.92	14d	1	0.86mi
42 S Mathison St Dayton, OH	3.0	1.0	1300	$1,220	$0.94	3d	1	0.86mi
424 Lexington Ave Dayton, OH	3.0	2.0	1536	$1,025	$0.67	43d	1	0.89mi
3207 Cornell Dr Dayton, OH	3.0	1.0	1168	$1,000	$0.86	3d	1	0.97mi
1378 Cory Dr Dayton, OH	2.0	1.0	1300	$975	$0.75	43d	1	1.02mi
1011 N Broadway St Dayton, OH	3.0	1.5	1700	$950	$0.56	43d	1	1.13mi
3668 Karwin Dr Unit 3672 Dayton, OH	2.0	1.0	1500	$995	$0.66	23d	1	1.15mi
3672 Karwin Dr Unit 3672 Dayton, OH	2.0	1.0	1500	$995	$0.66	43d	1	1.15mi
1225 Amherst Pl Dayton, OH	3.0	1.0	1548	$1,300	$0.84	14d	1	1.23mi
3650 Otterbein Ave Unit 3650 Dayton, OH	2.0	1.0	900	$800	$0.89	2d	1	1.26mi
4109 Midway Ave Dayton, OH	3.0	1.0	971	$1,000	$1.03	3d	1	1.28mi
652 Dennison Ave Dayton, OH	2.0	2.0	988	$1,095	$1.11	21d	1	1.28mi
3311 Otterbein Ave Dayton, OH	3.0	1.5	1004	$1,300	$1.29	11d	1	1.31mi
47 Leroy St Dayton, OH	3.0	1.0	1456	$1,200	$0.82	43d	1	1.32mi
1067 Salem Ave Dayton, OH	2.0	1.0	1100	$900	$0.82	43d	1	1.33mi
1067 Salem Ave Unit 3 Dayton, OH	2.0	1.5	1100	$900	$0.82	43d	1	1.33mi
1067 Salem Ave Unit 2 Dayton, OH	2.0	1.5	1100	$900	$0.82	43d	1	1.33mi
1743 Radcliffe Rd Dayton, OH	3.0	1.5	1729	$1,200	$0.69	43d	1	1.33mi
3537 Otterbein Ave Unit d Dayton, OH	2.0	1.0	900	$925	$1.03	43d	1	1.34mi
623 Clifton Dr Apt A Dayton, OH	2.0	1.0	1200	$1,200	$1.00	2d	1	1.35mi
623 Clifton Dr Apt B Dayton, OH	2.0	1.0	1200	$1,174	$0.98	3d	1	1.35mi
942 Harvard Blvd Dayton, OH	3.0	2.0	1596	$1,200	$0.75	3d	1	1.38mi
1927 Burroughs Dr Dayton, OH	3.0	2.0	1409	$1,245	$0.88	14d	1	1.39mi

Listing history 23 events

1. 2026-06-18
   days on market $107,400 Active 184 DOM
2. 2026-06-17
   days on market $107,400 Active 183 DOM
3. 2026-06-16
   days on market $107,400 Active 182 DOM
4. 2026-06-15
   days on market $107,400 Active 181 DOM
5. 2026-06-14
   days on market $107,400 Active 179 DOM
6. 2026-06-13
   days on market $107,400 Active 178 DOM
7. 2026-06-10
   days on market $107,400 Active 176 DOM
8. 2026-06-09
   days on market $107,400 Active 175 DOM
9. 2026-06-08
   days on market $107,400 Active 174 DOM
10. 2026-06-07
    days on market $107,400 Active 173 DOM
11. 2026-06-05
    days on market $107,400 Active 170 DOM
12. 2026-06-03
    days on market $107,400 Active 169 DOM
13. 2026-06-02
    days on market $107,400 Active 168 DOM
14. 2026-06-01
    days on market $107,400 Active 167 DOM
15. 2026-05-31
    days on market $107,400 Active 166 DOM
16. 2026-04-03
    status Active 976-char remark

    Show marketing remark (976 chars)

    INVESTOR ALERT — CASH-FLOWING DUPLEX WITH EVEN MORE UPSIDE! This well-maintained duplex is already generating $1,200/month with long-term tenants on month-to-month leases. Both units are rented at below-market rates ($600 each), offering immediate potential to increase rents to $750–$800/unit with light cosmetic updates. Additional highlights: 2024 roof replacement—major expense already handled Tenants pay for all electric, lowering operating costs Expandable layout: unfinished basement offers opportunity to add a 3rd unit or additional living space Flexible floor plan allows easy conversion back to a single-family home Great for first-time investors looking to own an income-producing property while learning real estate management on a small, manageable scale, with a solid 9.3% cap rate right from the start. Perfect for buy-and-hold investors or anyone looking to add stable, appreciating cash flow to their portfolio. Sold As-Is.

17. 2026-03-27
    historical ActiveUnderContract 976-char remark

    Show marketing remark (976 chars)

    INVESTOR ALERT — CASH-FLOWING DUPLEX WITH EVEN MORE UPSIDE! This well-maintained duplex is already generating $1,200/month with long-term tenants on month-to-month leases. Both units are rented at below-market rates ($600 each), offering immediate potential to increase rents to $750–$800/unit with light cosmetic updates. Additional highlights: 2024 roof replacement—major expense already handled Tenants pay for all electric, lowering operating costs Expandable layout: unfinished basement offers opportunity to add a 3rd unit or additional living space Flexible floor plan allows easy conversion back to a single-family home Great for first-time investors looking to own an income-producing property while learning real estate management on a small, manageable scale, with a solid 9.3% cap rate right from the start. Perfect for buy-and-hold investors or anyone looking to add stable, appreciating cash flow to their portfolio. Sold As-Is.

18. 2026-03-15
    price $107,400 976-char remark

    Show marketing remark (976 chars)

    INVESTOR ALERT — CASH-FLOWING DUPLEX WITH EVEN MORE UPSIDE! This well-maintained duplex is already generating $1,200/month with long-term tenants on month-to-month leases. Both units are rented at below-market rates ($600 each), offering immediate potential to increase rents to $750–$800/unit with light cosmetic updates. Additional highlights: 2024 roof replacement—major expense already handled Tenants pay for all electric, lowering operating costs Expandable layout: unfinished basement offers opportunity to add a 3rd unit or additional living space Flexible floor plan allows easy conversion back to a single-family home Great for first-time investors looking to own an income-producing property while learning real estate management on a small, manageable scale, with a solid 9.3% cap rate right from the start. Perfect for buy-and-hold investors or anyone looking to add stable, appreciating cash flow to their portfolio. Sold As-Is.

19. 2025-12-14
    listed $120,000 Active 976-char remark

    Show marketing remark (976 chars)

    INVESTOR ALERT — CASH-FLOWING DUPLEX WITH EVEN MORE UPSIDE! This well-maintained duplex is already generating $1,200/month with long-term tenants on month-to-month leases. Both units are rented at below-market rates ($600 each), offering immediate potential to increase rents to $750–$800/unit with light cosmetic updates. Additional highlights: 2024 roof replacement—major expense already handled Tenants pay for all electric, lowering operating costs Expandable layout: unfinished basement offers opportunity to add a 3rd unit or additional living space Flexible floor plan allows easy conversion back to a single-family home Great for first-time investors looking to own an income-producing property while learning real estate management on a small, manageable scale, with a solid 9.3% cap rate right from the start. Perfect for buy-and-hold investors or anyone looking to add stable, appreciating cash flow to their portfolio. Sold As-Is.

20. 2018-08-23
    soldstatus $23,000
21. 2017-02-09
    soldstatus $16,000
22. 2010-10-04
    soldstatus $37,000
23. 1992-07-28
    soldstatus $20,500

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

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $679 · $57/mo
• Projected year-2 tax: $1,177 · $98/mo
• Expected delta: +$498/yr (+$41/mo · 73.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,044
• − Mortgage interest: −$6,016
• − Property taxes: −$679
• − Insurance: −$537
• − Repairs & maintenance: −$1,764
• − Management: −$1,764
• − Depreciation: −$3,124
• Taxable income: $8,160
• Est. tax owed @ 24.0%: −$1,958
• After-tax cash flow: $7,481/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.

Schools (NCES district)

• District: Dayton City
• NCES district ID: 3904384
• Math proficiency: 12% ▼ -12.00%
• Reading proficiency: 21% ▼ -11.00%
• Median HH income: $28,688
• Composite: 12.94/100
• National rank: #9579
• State rank: #641 of 656 in OH

Livability — Dayton

• Score: 65/100
• State rank: #716
• US rank: #12895

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dayton, OH
• County: Montgomery County · 459,541 people
• City population: 164,387
• Metro: Dayton-Kettering, OH
• Population (ZIP): 9,407
• Household income: $48,401
• Rent vs Own: 64.1% rent · 35.9% own
• Severe rent burden: 404.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 57% White 32% Two or more races 7% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Italian 2% Serbian 2% Slovak 1%
• Foreign-born: 5% · Canada, Vietnam, Jamaica
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1% Arabic 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: ▼ -81.89%
• Current HPI: 149.7909
• Rent YoY: ▲ 3.98%
• 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

+423.9% since first listed

8 events — show timeline

• 2026-04-03 Relisted — Dayton MLS
• 2026-03-27 Contingent — Dayton MLS
• 2026-03-15 Price Changed $107,400 Dayton MLS
• 2025-12-14 Listed $120,000 Dayton MLS
• 2018-08-23 Sold (Public Records) $23,000 Public Records
• 2017-02-09 Sold (Public Records) $16,000 Public Records
• 2010-10-04 Sold (Public Records) $37,000 Public Records
• 1992-07-28 Sold (Public Records) $20,500 Public Records

Property tax history

-2.3%/yr

Latest (2025): $679 · -0.2% YoY. Source: county tax records.