2278 Cross Village Dr · Centerville, OH 45342

$224,900

3 bd · 1.5 ba · 1,440 sqft · SingleFamily public records · 28 Days on market

Built 1985 0.28 ac lot $156/sqft · 20% below area Est $280k · 20% under

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Why this score? — see what drove the D- 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).

• ARV discount +15.0/15.0
• Cash flow +6.7/30.0
• Schools +4.8/10.0
• Livability +4.2/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

This classic two-story 3 bedroom 1.5 bath home, built in 1985 is situated on a spacious 0.28-acre lot in Miamisburg. The residence offers 1,438 square feet of living space and is built on a slab foundation for easy maintenance. The exterior features a functional design complemented by a convenient attached garage. Located within the Miamisburg City School District, the property sits on a well-sized corner-style parcel, offering plenty of outdoor space in a quiet residential setting.

Key facts

• Attached garage
• Corner-style parcel
• Spacious lot

Tags

• SPACIOUS LOT
• ATTACHED GARAGE
• CORNER-STYLE PARCEL
• QUIET RESIDENTIAL SETTING

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Attached 2-car garage
• Utilities: Has cooling (central air); Has heating (forced air)
• Home design: 2-story house; Brick and vinyl siding exterior; Slab foundation
• Construction: Brick and vinyl siding construction
• Exterior features: Residential zoning; Lot dimensions approximately 85 x 140

Interior

• Kitchen: Range; Refrigerator; Kitchen on main level (10 x 11)
• Bedrooms: Bedroom on second level (12 x 10); Bedroom on second level (12 x 9); Additional large room on second level (21 x 14) — could serve as a bedroom or bonus space
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Total of 6 rooms; Living room; Family room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-363 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $161k (28.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (26.9% below list).
• Recommended offer: $161k (28.5% below list) — sets the bar for cash-flow.
• Cap rate 4.4% vs local median 2.9% in Centerville — 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 85/100 on livability (#45 in OH, #604 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities D+, commute F.
• Miamisburg City (suburban): math 52% / reading 61% proficiency, ranked #338 of 656 in OH (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.3%/yr); 113 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.

Recommended offer $160,774 (28.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.73% ✗
• Cap rate: 4.36%
• Cash-on-cash: -6.92%
• DSCR: 0.69
• GRM: 11.4

CMA / ARV

• ARV (median comp): $279,949
• List price: $224,900
• Delta: -19.66%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2389 Windsor Village Dr	0.06mi	3/2.5	1,543 (+7%)	4mo	$308,000	$200	78
2152 Blanton Dr	0.32mi	3/2.5	1,468 (+2%)	0mo	$345,000	$235	77
2511 Cinnamon Ridge Ct	0.24mi	3/2.0	1,356 (-6%)	1mo	$240,000	$177	76
9683 Pellston Way	0.08mi	3/2.5	1,566 (+9%)	1mo	$289,000	$185	76
9469 Country Path Trl	0.33mi	3/2.0	1,502 (+4%)	0mo	$330,000	$220	75
2540 Colinda Ct	0.34mi	3/2.0	1,400 (-3%)	7mo	$280,000	$200	72
9820 Arlis Ln	0.25mi	3/2.5	1,584 (+10%)	3mo	$316,000	$199	65
9967 Bannon Ct	0.28mi	2/1.5 (-1)	1,566 (+9%)	3mo	$180,000	$115	65
9528 Summer Wind Trl	0.26mi	3/2.0	1,617 (+12%)	4mo	$315,000	$195	62
2460 Miami Village Dr	0.36mi	3/2.0	1,269 (-12%)	1mo	$275,000	$217	61
2115 Autumn Haze Trl	0.39mi	3/2.5	1,620 (+12%)	6mo	$290,000	$179	52
2408 Ferndown Dr	0.60mi	3/2.5	1,621 (+13%)	2mo	$350,000	$216	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 · 3.29% rent growth · sell at horizon

5-year hold

• IRR: -27.9%
• Equity multiple: 0.06×
• Total profit: $-58,991
• Equity at exit: $33,533

10-year hold

• IRR: -25.2%
• Equity multiple: -0.25×
• Total profit: $-78,781
• Equity at exit: $19,445

Cash invested: $62,972 (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 45342

• Rents YoY: 3.3%
• Active inventory: 113
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $1,645 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$389 /mo · $4,671/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $-363

Break-even live

Break-even rent $2,104

Max offer price $160,774

Occupancy floor —

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2419 Cross Village Dr Miamisburg, OH	2.0	2.5	1232	$1,245	$1.01	18d	1	0.20mi
8911 Fox Glove Way Miamisburg, OH	3.0	2.5	1416	$1,725	$1.22	43d	1	0.30mi
2436 Tarpon Bay Dr Miamisburg, OH	2.0	2.5	1056	$1,700	$1.61	3d	1	0.30mi
9403 Captiva Bay Dr Unit 9403 Miamisburg, OH	3.0	2.0	1276	$1,600	$1.25	23d	1	0.31mi
2745 Brookshire Ln Miamisburg, OH	2.0	1.5	1040	$1,099	$1.06	18d	1	0.33mi
9351 Captiva Bay Dr Miamisburg, OH	2.0	2.5	1088	$1,700	$1.56	23d	1	0.36mi
3091 Sagebrook Dr Miamisburg, OH	1.0–3.0	1.0–2.0	977	$1,650	$1.69	2d	48	0.41mi
9600 Summit Point Dr Miamisburg, OH	2.0	1.0–2.0	869	$2,020	$2.32	1d	14	0.47mi
9083 Marquis Dr Miamisburg, OH	3.0	2.0	1209	$2,300	$1.90	2d	1	0.60mi
2480 Foxhill Dr Miamisburg, OH	2.0	1.0–2.0	795	$1,560	$1.96	2d	36	0.63mi
2550 Steeplechase Dr Miamisburg, OH	1.0–2.0	1.0–2.0	838	$1,795	$2.14	3d	22	0.72mi
2991 Austin Springs Blvd Miamisburg, OH	1.0–3.0	1.0–2.0	948	$2,495	$2.63	2d	20	0.77mi
8801 Motter Ln Miamisburg, OH	1.0–2.0	1.0–2.0	875	$1,785	$2.04	2d	9	0.95mi
1570 Spinnaker Way Dayton, OH	1.0–3.0	1.0–2.0	982	$1,760	$1.79	2d	5	1.22mi
1936 Washington West Dr Dayton, OH	2.0	2.0	1491	$1,750	$1.17	2d	1	1.40mi

Listing history 3 events

1. 2026-05-01
   listed $224,900 Active 488-char remark
2. 2025-01-09
   soldstatus $2,790,000
3. 1985-07-16
   soldstatus $978,200

ⓘ 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: $4,671 · $389/mo
• Projected year-2 tax: $4,671 · $389/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate 7 d/yr ≥100°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,737
• − Mortgage interest: −$12,598
• − Property taxes: −$4,671
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,579
• − Management: −$1,579
• − Depreciation: −$6,543
• Taxable loss: −$8,357
• Est. tax savings @ 24.0%: +$2,006
• After-tax cash flow: $-2,350/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: Miamisburg City
• NCES district ID: 3904439
• Math proficiency: 52% ▼ -13.00%
• Reading proficiency: 61% ▼ -7.00%
• Median HH income: $53,394
• Composite: 48.47/100
• National rank: #2128
• State rank: #338 of 656 in OH

Livability — Centerville

• Score: 85/100
• State rank: #45
• US rank: #604

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Montgomery County · 459,541 people
• City population: 38,712
• Metro: Dayton-Kettering, OH
• Population (ZIP): 36,152
• Household income: $84,907
• Rent vs Own: 34.9% rent · 65.1% own
• Severe rent burden: 790.0

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 (83%)
• Race & ethnicity: White 83% Black 6% Two or more races 4% Asian 4% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Italian 2% Serbian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Other Asian/Pacific 3% Spanish 2% Other Indo-European 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: ▼ -183.01%
• Current HPI: 227.3999
• Rent YoY: ▲ 3.29%
• 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

-77.0% since first listed

4 events — show timeline

• 2026-05-29 Pending — Dayton MLS
• 2026-05-01 Listed $224,900 Dayton MLS
• 2025-01-09 Sold (Public Records) $2,790,000 Public Records
• 1985-07-16 Sold (Public Records) $978,200 Public Records

Property tax history

+3.9%/yr

Latest (2025): $4,671 · -0.2% YoY. Source: county tax records.