940 E Main St · Troy, OH 45373

$124,900

1 bd · 1.0 ba · 748 sqft · SingleFamily public records · 16 Days on market

Built 1935 2,439 sqft lot Est $141k · 11% under

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Why this score? — see what drove the C 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 +19.6/30.0
• ARV discount +12.5/15.0
• DSCR +6.2/10.0
• Schools +5.2/10.0
• 1% rule +4.3/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Adorable cottage on East side of Troy. Within walking distance from downtown but far enough away to enjoy the tranquil community. This home has so much Character with it's built-In nooks and book cabinet. Hardwood floors and a brick fireplace create a cozy living space. This home feels much larger than it is! Basement could be transformed into additional living space.

Key facts

• Book cabinet
• Brick fireplace
• Built-in nooks

Tags

• BUILT-IN NOOKS
• BOOK CABINET
• BRICK FIREPLACE

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public sewer; Natural gas connected
• Home design: Single-family residential house; Built in 1935
• Construction: Asbestos construction materials
• Exterior features: Residential lot; Supplied water

Interior

• Kitchen: Kitchen (13 x 10)
• Bedrooms: Bedroom (17 x 10)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Decorative fireplace; Full unfinished basement; Four total rooms

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (7.3% below list).
• Recommended offer: $116k (7.3% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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; 2 comparable units currently listed for rent nearby; solid renter incomes; 326 units permitted in Miami County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 12y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $52k; list at $125k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,834 (7.3% below list)

Questions for the listing agent

1. Built in 1935 — 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. 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. 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: 0.93% ✗
• Cap rate: 7.68%
• Cash-on-cash: 4.96%
• DSCR: 1.22
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $140,624
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
216 Morehead St	0.21mi	2/1.0 (+1)	734 (-2%)	13mo	$125,000	$170	71
1119 Long St	0.25mi	2/1.0 (+1)	696 (-7%)	3mo	$170,000	$244	69
130 Floral Ave	0.22mi	2/1.0 (+1)	752 (+0%)	18mo	$156,000	$207	68
1143 W Race St	0.32mi	2/1.0 (+1)	720 (-4%)	23mo	$75,000	$104	55
1178 Race Dr	0.36mi	2/1.0 (+1)	720 (-4%)	21mo	$135,000	$188	55
20 S Crawford St	0.41mi	2/1.0 (+1)	780 (+4%)	18mo	$98,000	$126	54
1122 Long St	0.29mi	2/2.0 (+1)	810 (+8%)	23mo	$185,000	$228	44
622 Union St	0.51mi	2/1.0 (+1)	851 (+14%)	14mo	$106,000	$125	37

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: -6.5%
• Equity multiple: 0.75×
• Total profit: $-8,630
• Equity at exit: $18,623

10-year hold

• IRR: 5.2%
• Equity multiple: 1.42×
• Total profit: $14,658
• Equity at exit: $10,799

Cash invested: $34,972 (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 45373

• Rents YoY: 5.1%
• Active inventory: 281
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,158 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$64 /mo · $764/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $144

Break-even live

Break-even rent $976

Max offer price $124,900

Occupancy floor 83%

Sensitivity live

Price	-10% $215	-5% $180	+0% $144	+5% $109	+10% $74
Rent	-10% $53	-5% $99	+0% $144	+5% $190	+10% $236
Rate	-1.0pp $207	-0.5pp $176	base $144	+0.5pp $112	+1.0pp $79

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
609 Michigan Ave Troy, OH	2.0	1.0	696	$1,250	$1.80	3d	1	0.83mi
455 Stonyridge Ave Troy, OH	2.0	1.0	576	$1,012	$1.76	3d	5	1.06mi

Listing history 14 events

1. 2026-06-18
   status $124,900 Pending 16 DOM
2. 2026-06-18
   days on market $124,900 Active 16 DOM
3. 2026-06-17
   days on market $124,900 Active 15 DOM
4. 2026-06-16
   days on market $124,900 Active 14 DOM
5. 2026-06-15
   pricedays on market $124,900 Active 13 DOM
6. 2026-06-14
   days on market $135,000 Active 11 DOM
7. 2026-06-10
   days on market $135,000 Active 8 DOM
8. 2026-06-09
   days on market $135,000 Active 7 DOM
9. 2026-06-08
   days on market $135,000 Active 6 DOM
10. 2026-06-07
    days on market $135,000 Active 5 DOM
11. 2026-06-03
    remarks 371-char remark
12. 2026-06-03
    listing id $135,000 Active 1 DOM
13. 2026-06-03
    remarks 304-char remark
14. 2026-06-03
    listed $135,000 Active 1 DOM

ⓘ 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: $764 · $64/mo
• Projected year-2 tax: $1,356 · $113/mo
• Expected delta: +$592/yr (+$49/mo · 77.6%)

ⓘ 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 ≥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: $13,900
• − Mortgage interest: −$6,996
• − Property taxes: −$764
• − Insurance: −$624
• − Repairs & maintenance: −$1,112
• − Management: −$1,112
• − Depreciation: −$3,633
• Taxable loss: −$342
• Est. tax savings @ 24.0%: +$82
• After-tax cash flow: $1,815/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

+170.5% since first listed

15 events — show timeline

• 2026-06-02 Listed $135,000 Dayton MLS
• 2026-06-02 Listed $135,000 WRIST
• 2026-06-02 Listed $135,000 WRIST
• 2026-06-02 Listing Removed — WRIST
• 2016-11-04 Listing Removed — WRIST
• 2015-04-22 Sold (Public Records) $52,000 Public Records
• 2015-04-20 Sold (MLS) $52,000 WRIST
• 2015-04-20 Sold (MLS) $52,000 Dayton MLS
• 2015-04-20 Sold (MLS) $52,000 Dayton MLS
• 2015-02-24 Listing Removed — Dayton MLS
• 2014-11-25 Listed $49,900 WRIST
• 2014-11-25 Listed $49,900 Dayton MLS
• 2014-10-24 Listing Removed — Dayton MLS
• 2014-06-13 Listed $49,900 Dayton MLS
• 2014-06-13 Listed $49,900 WRIST

Property tax history

+0.5%/yr

Latest (2025): $764 · -28.1% YoY. Source: county tax records.