35 W Hillcrest Ave · Dayton, OH 45405

$39,900

3 bd · 1.0 ba · 1,362 sqft · SingleFamily public records · 1 Days on market

Built 1930 Est $72k · 45% under ↓ 18% since listing

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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 +3.6/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

This Handy man special offers loads of potential. This property is for investors with big pocket of funds for renovation. This property has not been trashed out. Being sold "AS IS"

Key facts

• 2 garage spots
• Built 1930

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Detached two-car garage
• Home design: Two-story residence; Residential zoning
• Construction: Aluminum and vinyl siding
• Exterior features: Fenced yard; Front porch

Interior

• Kitchen: Kitchen on the main level (11 x 9); Breakfast nook on the main level (8 x 6); Dining room on the main level (11 x 11)
• Bedrooms: Three bedrooms on the second floor (12 x 9; 13 x 9; 13 x 11)
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Unfinished basement; 7 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $592 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Cap rate 24.1% vs local median 7.3% 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 fast (+4.3%/yr); 134 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k 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 + 4.3% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $13k; list at $40k implies a 207% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,900

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.75% ✓
• Cap rate: 24.09%
• Cash-on-cash: 63.55%
• DSCR: 3.83
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $72,186
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
69 E Beechwood Ave	0.24mi	3/1.0	1,400 (+3%)	1mo	$173,000	$124	83
423 Sandalwood Dr	0.10mi	3/1.5	1,444 (+6%)	0mo	$62,000	$43	83
121 E Hillcrest Ave	0.28mi	3/1.0	1,402 (+3%)	1mo	$75,000	$53	81
117 Valleyview Dr	0.36mi	2/1.0 (-1)	1,381 (+1%)	1mo	$50,000	$36	75
50 Woodcrest Ave	0.34mi	3/1.0	1,500 (+10%)	2mo	$155,000	$103	66
17 Marie Ave	0.43mi	4/1.5 (+1)	1,424 (+5%)	0mo	$70,000	$49	65
445 Sandhurst Dr	0.69mi	3/1.0	1,338 (-2%)	2mo	$48,950	$37	64
2032 Rugby Rd	0.64mi	3/1.0	1,422 (+4%)	0mo	$44,990	$32	63
128 E Parkwood Dr	0.44mi	3/1.0	1,228 (-10%)	1mo	$29,810	$24	62
148 Valleyview Dr	0.29mi	3/1.0	1,163 (-15%)	2mo	$125,000	$107	61
2331 Newport Ave	0.47mi	3/1.5	1,520 (+12%)	1mo	$85,000	$56	55
61 Redder Ave	0.73mi	3/1.0	1,210 (-11%)	1mo	$115,000	$95	46

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 · 4.34% rent growth · sell at horizon

5-year hold

• IRR: 64.1%
• Equity multiple: 3.93×
• Total profit: $32,736
• Equity at exit: $5,949

10-year hold

• IRR: 69.0%
• Equity multiple: 8.47×
• Total profit: $83,425
• Equity at exit: $3,450

Cash invested: $11,172 (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 45405

• Rents YoY: 4.3%
• Active inventory: 134
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,098 high
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $592

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 41%

Sensitivity live

Price	-10% $619	-5% $605	+0% $592	+5% $578	+10% $564
Rent	-10% $505	-5% $548	+0% $592	+5% $635	+10% $678
Rate	-1.0pp $612	-0.5pp $602	base $592	+0.5pp $581	+1.0pp $571

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26 W Beechwood Ave Dayton, OH	3.0	1.5	1468	$1,050	$0.72	45d	1	0.10mi
39 E Maplewood Ave Dayton, OH	4.0	1.5	1560	$1,050	$0.67	4d	1	0.17mi
38 Pointview Ave Dayton, OH	2.0	1.0	1140	$900	$0.79	15d	1	0.17mi
42 Pointview Ave Unit 42 Dayton, OH	3.0	2.0	1240	$1,200	$0.97	4d	1	0.18mi
65 E Maplewood Ave Dayton, OH	2.0	1.0	1064	$723	$0.68	45d	1	0.21mi
101 E Bruce Ave Dayton, OH	3.0	1.0	1455	$1,150	$0.79	4d	1	0.33mi
2333 Rustic Rd Unit 4 Dayton, OH	2.0	1.0	1000	$840	$0.84	4d	1	0.35mi
2333 Rustic Rd Dayton, OH	2.0	1.0	1000	$840	$0.84	45d	1	0.35mi
412 W Parkwood Dr Unit 1 Dayton, OH	2.0	1.0	900	$875	$0.97	24d	1	0.37mi
202 E Bruce Ave Apt 2 Dayton, OH	2.0	1.0	1250	$800	$0.64	24d	1	0.39mi
220 Fernwood Ave Dayton, OH	2.0	1.0	884	$900	$1.02	4d	1	0.39mi
147 Laura Ave Dayton, OH	2.0	1.0	1096	$975	$0.89	24d	1	0.40mi
152 Laura Ave Dayton, OH	2.0	1.0	990	$895	$0.90	45d	1	0.42mi
439 W Fairview Ave Dayton, OH	3.0	1.0	1500	$1,200	$0.80	45d	1	0.42mi
41 W Fairview Ave Unit 2 Dayton, OH	3.0	1.0	1452	$1,200	$0.83	15d	1	0.46mi
2327 N Main St Unit 2 Dayton, OH	2.0	1.0	900	$1,200	$1.33	24d	1	0.47mi
201 W Norman Ave Dayton, OH	3.0	1.0	1424	$1,200	$0.84	45d	1	0.48mi
181 W Norman Ave Dayton, OH	3.0	2.0	1228	$1,150	$0.94	45d	1	0.48mi
317 Fernwood Ave Dayton, OH	3.0	1.0	1320	$1,100	$0.83	12d	1	0.49mi
101 W Norman Ave Unit 101 Dayton, OH	3.0	1.0	1600	$945	$0.59	45d	1	0.50mi
228 E Siebenthaler Ave Dayton, OH	2.0	1.0	934	$1,200	$1.28	45d	1	0.52mi
244 E Siebenthaler Ave Dayton, OH	2.0	1.5	1273	$1,175	$0.92	4d	1	0.54mi
167 W Hudson Ave Dayton, OH	3.0	1.5	1344	$1,185	$0.88	45d	1	0.55mi
337 Ryburn Ave Unit 2 Dayton, OH	2.0	1.0	900	$800	$0.89	45d	1	0.55mi
31 E Norman Ave Dayton, OH	3.0	1.0	1100	$1,150	$1.05	24d	1	0.57mi
1019 Cherry Dr Dayton, OH	4.0	1.0	1057	$1,125	$1.06	45d	1	0.58mi
628 W Norman Ave Unit 628 Dayton, OH	2.0	1.0	918	$795	$0.87	45d	1	0.62mi
1004 W Fairview Ave Dayton, OH	2.0	1.0	1053	$950	$0.90	24d	1	0.65mi
419 Sandhurst Dr Dayton, OH	2.0	1.0	950	$975	$1.03	24d	1	0.69mi
234 Santa Clara Ave Dayton, OH	3.0	1.0	1368	$1,125	$0.82	45d	1	0.71mi
1207 W Fairview Ave Dayton, OH	2.0	1.0	1023	$825	$0.81	45d	1	0.76mi
1207 W Fairview Ave Dayton, OH	2.0	1.0	1023	$825	$0.81	4d	1	0.76mi
2247 Salem Ave Unit 2249 Dayton, OH	3.0	1.5	1300	$1,400	$1.08	45d	1	0.81mi
2247 Salem Ave Unit 2247 Dayton, OH	3.0	1.5	1300	$1,350	$1.04	4d	1	0.81mi
265 Victor Ave Dayton, OH	3.0	1.0	1204	$900	$0.75	45d	1	0.82mi
69 Waverly Ave Dayton, OH	2.0	1.0	900	$850	$0.94	4d	1	0.82mi
2232 Salem Ave Dayton, OH	3.0	1.0	1250	$1,200	$0.96	4d	1	0.82mi
1743 Radcliffe Rd Dayton, OH	3.0	1.5	1729	$1,200	$0.69	45d	1	0.87mi
519 Heather Dr Unit 1C Dayton, OH	2.0	2.0	1100	$1,095	$1.00	4d	1	0.93mi
240 Castlewood Ave Dayton, OH	2.0	1.0	912	$995	$1.09	22d	1	0.95mi

Listing history 3 events

1. 2026-06-17
   status $39,900 Pending 1 DOM
2. 2026-06-16
   remarks 180-char remark
3. 2026-06-16
   listed $39,900 Active 1 DOM

ⓘ 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 3/10 Moderate 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,176
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$1,054
• − Management: −$1,054
• − Depreciation: −$1,161
• Taxable income: $6,874
• Est. tax owed @ 24.0%: −$1,650
• After-tax cash flow: $5,450/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): 18,955
• Household income: $43,973
• Rent vs Own: 64.0% rent · 36.0% own
• Severe rent burden: 1475.0

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 Black (68%)
• Race & ethnicity: Black 68% White 23% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Italian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 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: ▼ -125.58%
• Current HPI: 173.4962
• Rent YoY: ▲ 4.34%
• 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

-17.7% since first listed

12 events — show timeline

• 2026-06-15 Listed $39,900 Dayton MLS
• 2014-09-17 Sold (MLS) $13,000 Dayton MLS
• 2014-09-17 Sold (MLS) $13,000 Dayton MLS
• 2014-08-19 Listing Removed — Dayton MLS
• 2013-09-04 Listed $11,000 Dayton MLS
• 2012-06-30 Listing Removed — Dayton MLS
• 2012-02-24 Listed $39,900 Dayton MLS
• 2012-02-23 Listing Removed — Dayton MLS
• 2011-09-10 Listed $55,000 Dayton MLS
• 2004-08-30 Sold (Public Records) $79,800 Public Records
• 1999-04-21 Sold (Public Records) $67,500 Public Records
• 1992-04-03 Sold (Public Records) $48,500 Public Records

Property tax history

+10.0%/yr

Latest (2025): $4,104 · +283.7% YoY. Source: county tax records.