821 Mckaig Ave · Troy, OH 45373

$134,900

4 bd · 2.0 ba · 1,737 sqft · MultiFamily public records · 19 Days on market

Built 1920 7,405 sqft lot Est $182k · 26% under

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Why this score? — see what drove the A- 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 +5.2/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• 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

Welcome to 821-823 McKaig Ave. Troy, OH! Centrally and Ideally located to Troy Amenities and directly across from McKaig and Race park. Attention Investors! Opportunity Knocks with this amazing Investment Property! This 2 unit offers 2 bedrooms, 1 bath each. The main floor (823) unit is now vacant and was recently rented for $650.00 per month. The second unit (821) contains 2 levels and is currently rented at $635.00 per month. You will see updates including replacement windows done in the past and a roof replacement (1 layer) that was done approx. 2025. Nice size lot. Great front porch. Tenants pays all their own utilities and utilities are metered separately. This property is being offered for sale in ''As Is'' condition.

Key facts

• Nice size lot
• Great front porch
• Centrally located

Tags

• CENTRALLY LOCATED
• DIRECTLY ACROSS FROM PARK
• REPLACEMENT WINDOWS
• ROOF REPLACEMENT
• NICE SIZE LOT
• GREAT FRONT PORCH

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: No garage; Private parking; On-street parking
• Utilities: Tenant pays electricity, gas, heat, water, sewer and trash collection
• Home design: Two-story building; Single building containing two units
• Construction: Vinyl siding
• Exterior features: 50 x 145 lot (assessor); Zoned for multiple uses

Interior

• Bedrooms: Multifamily unit type includes four bedrooms or more
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas heating
• Interior features: Partial unfinished basement

🏷️ Possibly a rental listed for sale. The $134,900 price doesn't fit this home's estimated sale value (~$182,385) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $135k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $526/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.7% vs local median 2.6% in Troy — 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 73/100 on livability (#345 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Troy City (suburban): math 61% / reading 61% proficiency, ranked #271 of 656 in OH (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+5.1%/yr); 281 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 326 units permitted in Miami County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.1% rent growth), your $38k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y 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 $43k; list at $135k implies a 214% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,876 (1.5% below list)

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. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 1.76% ✓
• Cap rate: 15.65%
• Cash-on-cash: 33.42%
• DSCR: 2.49
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $182,385
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
130 N Elm St	0.35mi	5/2.0 (+1)	1,872 (+8%)	2mo	$150,000	$80	64
320 Garfield Ave	0.06mi	5/3.5 (+1)	1,632 (-6%)	23mo	$280,000	$172	57
131 S Mulberry St	0.61mi	3/2.0 (-1)	1,705 (-2%)	9mo	$203,000	$119	56
9 N Mulberry St	0.66mi	4/2.0	1,768 (+2%)	14mo	$246,000	$139	55
710 S Mulberry St	0.66mi	3/2.0 (-1)	1,680 (-3%)	13mo	$140,000	$83	48
624 S Clay St	0.72mi	4/2.0	1,601 (-8%)	12mo	$100,000	$62	44
426 S Clay St	0.65mi	3/2.0 (-1)	1,520 (-12%)	11mo	$159,500	$105	34
610-612 S Walnut St	0.58mi	3/2.0 (-1)	1,583 (-9%)	23mo	$140,000	$88	34

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 · 5.06% rent growth · sell at horizon

5-year hold

• IRR: 30.8%
• Equity multiple: 2.33×
• Total profit: $50,115
• Equity at exit: $20,114

10-year hold

• IRR: 39.1%
• Equity multiple: 5.00×
• Total profit: $151,221
• Equity at exit: $11,664

Cash invested: $37,772 (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 45373

• Rents YoY: 5.1%
• Active inventory: 281
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,369 high
• Mortgage (P&I): −$707
• Tax from tax record: −$56 /mo · $671/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $1,052

Break-even live

Break-even rent $1,037

Max offer price $134,900

Occupancy floor 51%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,370
Total (2 units)			$2,369

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 N Market St Troy, OH	3.0	1.0	2000	$2,000	$1.00	14d	1	0.52mi
5 N Market St Unit 5 1/2 Troy, OH	3.0	2.0	1600	$1,695	$1.06	14d	1	0.55mi
1530 Williamsburg Pl Apt D Troy, OH	3.0	1.5	1275	$1,700	$1.33	23d	1	0.90mi
580 Staunton Commons Dr Troy, OH	2.0–3.0	1.0	957	$1,395	$1.46	2d	2	1.22mi

Listing history 11 events

1. 2026-04-28
   status Pending 733-char remark

   Show marketing remark (733 chars)

   Welcome to 821-823 McKaig Ave. Troy, OH! Centrally and Ideally located to Troy Amenities and directly across from McKaig and Race park. Attention Investors! Opportunity Knocks with this amazing Investment Property! This 2 unit offers 2 bedrooms, 1 bath each. The main floor (823) unit is now vacant and was recently rented for $650.00 per month. The second unit (821) contains 2 levels and is currently rented at $635.00 per month. You will see updates including replacement windows done in the past and a roof replacement (1 layer) that was done approx. 2025. Nice size lot. Great front porch. Tenants pays all their own utilities and utilities are metered separately. This property is being offered for sale in ''As Is'' condition.

2. 2026-04-28
   status Pending

   Show marketing remark (733 chars)

   Welcome to 821-823 McKaig Ave. Troy, OH! Centrally and Ideally located to Troy Amenities and directly across from McKaig and Race park. Attention Investors! Opportunity Knocks with this amazing Investment Property! This 2 unit offers 2 bedrooms, 1 bath each. The main floor (823) unit is now vacant and was recently rented for $650.00 per month. The second unit (821) contains 2 levels and is currently rented at $635.00 per month. You will see updates including replacement windows done in the past and a roof replacement (1 layer) that was done approx. 2025. Nice size lot. Great front porch. Tenants pays all their own utilities and utilities are metered separately. This property is being offered for sale in ''As Is'' condition.

3. 2026-04-20
   price $134,900

   Show marketing remark (733 chars)

   Welcome to 821-823 McKaig Ave. Troy, OH! Centrally and Ideally located to Troy Amenities and directly across from McKaig and Race park. Attention Investors! Opportunity Knocks with this amazing Investment Property! This 2 unit offers 2 bedrooms, 1 bath each. The main floor (823) unit is now vacant and was recently rented for $650.00 per month. The second unit (821) contains 2 levels and is currently rented at $635.00 per month. You will see updates including replacement windows done in the past and a roof replacement (1 layer) that was done approx. 2025. Nice size lot. Great front porch. Tenants pays all their own utilities and utilities are metered separately. This property is being offered for sale in ''As Is'' condition.

4. 2026-04-20
   price $134,900 733-char remark

   Show marketing remark (733 chars)

   Welcome to 821-823 McKaig Ave. Troy, OH! Centrally and Ideally located to Troy Amenities and directly across from McKaig and Race park. Attention Investors! Opportunity Knocks with this amazing Investment Property! This 2 unit offers 2 bedrooms, 1 bath each. The main floor (823) unit is now vacant and was recently rented for $650.00 per month. The second unit (821) contains 2 levels and is currently rented at $635.00 per month. You will see updates including replacement windows done in the past and a roof replacement (1 layer) that was done approx. 2025. Nice size lot. Great front porch. Tenants pays all their own utilities and utilities are metered separately. This property is being offered for sale in ''As Is'' condition.

5. 2026-04-09
   listed $139,900 Active 733-char remark

   Show marketing remark (733 chars)

   Welcome to 821-823 McKaig Ave. Troy, OH! Centrally and Ideally located to Troy Amenities and directly across from McKaig and Race park. Attention Investors! Opportunity Knocks with this amazing Investment Property! This 2 unit offers 2 bedrooms, 1 bath each. The main floor (823) unit is now vacant and was recently rented for $650.00 per month. The second unit (821) contains 2 levels and is currently rented at $635.00 per month. You will see updates including replacement windows done in the past and a roof replacement (1 layer) that was done approx. 2025. Nice size lot. Great front porch. Tenants pays all their own utilities and utilities are metered separately. This property is being offered for sale in ''As Is'' condition.

6. 2026-04-09
   listed $139,900 Active

   Show marketing remark (733 chars)

   Welcome to 821-823 McKaig Ave. Troy, OH! Centrally and Ideally located to Troy Amenities and directly across from McKaig and Race park. Attention Investors! Opportunity Knocks with this amazing Investment Property! This 2 unit offers 2 bedrooms, 1 bath each. The main floor (823) unit is now vacant and was recently rented for $650.00 per month. The second unit (821) contains 2 levels and is currently rented at $635.00 per month. You will see updates including replacement windows done in the past and a roof replacement (1 layer) that was done approx. 2025. Nice size lot. Great front porch. Tenants pays all their own utilities and utilities are metered separately. This property is being offered for sale in ''As Is'' condition.

7. 2010-10-13
   historical
8. 2010-05-04
   listed $57,900
9. 2009-04-28
   soldstatus $43,000
10. 2009-04-24
    soldstatus $43,000
11. 2008-11-13
    listed $54,000

ⓘ 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: $671 · $56/mo
• Projected year-2 tax: $1,388 · $116/mo
• Expected delta: +$717/yr (+$60/mo · 106.7%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,428
• − Mortgage interest: −$7,556
• − Property taxes: −$671
• − Insurance: −$674
• − Repairs & maintenance: −$2,274
• − Management: −$2,274
• − Depreciation: −$3,924
• Taxable income: $11,053
• Est. tax owed @ 24.0%: −$2,653
• After-tax cash flow: $9,970/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: Troy City
• NCES district ID: 3904492
• Math proficiency: 61% ▼ -10.00%
• Reading proficiency: 61% ▼ -7.00%
• Median HH income: $52,012
• Composite: 52.1/100
• National rank: #1625
• State rank: #271 of 656 in OH

Livability — Troy

• Score: 73/100
• State rank: #345
• US rank: #5621

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Troy, OH
• County: Miami County · 85,667 people
• City population: 37,565
• Metro: Dayton-Kettering, OH
• Population (ZIP): 37,565
• Household income: $75,742
• Rent vs Own: 28.7% rent · 71.3% own
• Severe rent burden: 1134.0

Population outlook (Miami County) Hauer SSP2

• Today (2025): 107,816 people
• By 2030: 108,896 · +1.0%
• By 2040: 109,581 · +1.6%
• By 2050: 108,110 · +0.3%
• By 2075: 101,523 · -5.8%
• By 2100: 85,787 · -20.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 4% Asian 3% Black 3%
• Common ancestry: Lithuanian 4% Slovak 2% Iranian 2%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Other Asian/Pacific 2% Spanish 1% Other Indo-European 1%

Political lean MEDSL · Miami

• 2024 margin: Solid R (+45.1) · D 27.0% · R 72.1%
• 2008→2024 swing: -16.6pp toward R · 2008: -28.5pp · 2024: -45.1pp
• All cycles: 2024: R+45.1 2020: R+44.3 2016: R+45.6 2012: R+35.6 2008: R+28.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -158.93%
• Current HPI: 211.5279
• Rent YoY: ▲ 5.06%
• 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

+149.8% since first listed

11 events — show timeline

• 2026-04-28 Pending — WRIST
• 2026-04-28 Pending — Dayton MLS
• 2026-04-20 Price Changed $134,900 Dayton MLS
• 2026-04-20 Price Changed $134,900 WRIST
• 2026-04-09 Listed $139,900 Dayton MLS
• 2026-04-09 Listed $139,900 WRIST
• 2010-10-13 Listing Removed — Dayton MLS
• 2010-05-04 Listed $57,900 Dayton MLS
• 2009-04-28 Sold (Public Records) $43,000 Public Records
• 2009-04-24 Sold (MLS) $43,000 WRIST
• 2008-11-13 Listed $54,000 WRIST

Property tax history

-1.8%/yr

Latest (2025): $671 · +19.6% YoY. Source: county tax records.