423 Sandalwood Dr · Dayton, OH 45405

$68,900

3 bd · 1.5 ba · 1,444 sqft · SingleFamily public records · 45 Days on market

Built 1929 5,249 sqft lot Est $81k · 15% 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 +14.2/15.0
• 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

Great opportunity for a DIY specialist looking for some great sweat equity or a seasoned investor looking for another rental to their portfolio! Gorgeous hardwood floors and spacious rooms! Two car detached garage and a basement for additional storage! Price reflects condition! Sold as-is.

Key facts

• 5,249 sq ft lot
• 2 garage spots
• Built 1929

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $378 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.9% 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 fast (+4.3%/yr); 134 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• This rent runs 30% of the median local income ($44k/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 $476 of loan paydown is wiped out by about $2k 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 $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $66,833 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.60% ✓
• Cap rate: 12.88%
• Cash-on-cash: 23.53%
• DSCR: 2.05
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $80,864
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
423 Sandalwood Dr	0.00mi	3/1.5	1,444 (0%)	0mo	$62,000	$43	100
53 E Beechwood Ave	0.28mi	3/2.0	1,442 (-0%)	2mo	$163,000	$113	83
69 E Beechwood Ave	0.31mi	3/1.0	1,400 (-3%)	1mo	$173,000	$124	77
17 Marie Ave	0.36mi	4/1.5 (+1)	1,424 (-1%)	0mo	$70,000	$49	76
50 Woodcrest Ave	0.31mi	3/1.0	1,500 (+4%)	2mo	$155,000	$103	76
121 E Hillcrest Ave	0.37mi	3/1.0	1,402 (-3%)	1mo	$75,000	$53	76
117 Valleyview Dr	0.27mi	2/1.0 (-1)	1,381 (-4%)	1mo	$50,000	$36	72
2032 Rugby Rd	0.54mi	3/1.0	1,422 (-2%)	0mo	$44,990	$32	70
2401 Rugby Rd	0.42mi	3/1.5	1,368 (-5%)	2mo	$89,000	$65	70
2331 Newport Ave	0.50mi	3/1.5	1,520 (+5%)	1mo	$85,000	$56	67
165 Basswood Ave	0.46mi	3/1.0	1,253 (-13%)	2mo	$107,500	$86	53
128 E Parkwood Dr	0.49mi	3/1.0	1,228 (-15%)	1mo	$29,810	$24	50

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: 18.2%
• Equity multiple: 1.75×
• Total profit: $14,458
• Equity at exit: $10,273

10-year hold

• IRR: 27.6%
• Equity multiple: 3.59×
• Total profit: $50,063
• Equity at exit: $5,957

Cash invested: $19,292 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,101 high
• Mortgage (P&I): −$361
• Tax from tax record: −$102 /mo · $1,219/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $378

Break-even live

Break-even rent $622

Max offer price $68,900

Occupancy floor 61%

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: $17,225
• Closing costs: $2,067
• 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	44d	1	0.14mi
38 Pointview Ave Dayton, OH	2.0	1.0	1140	$900	$0.79	14d	1	0.21mi
39 E Maplewood Ave Dayton, OH	4.0	1.5	1560	$1,050	$0.67	3d	1	0.22mi
42 Pointview Ave Unit 42 Dayton, OH	3.0	2.0	1240	$1,200	$0.97	3d	1	0.22mi
65 E Maplewood Ave Dayton, OH	2.0	1.0	1064	$723	$0.68	44d	1	0.26mi
2333 Rustic Rd Unit 4 Dayton, OH	2.0	1.0	1000	$840	$0.84	2d	1	0.30mi
2333 Rustic Rd Dayton, OH	2.0	1.0	1000	$840	$0.84	44d	1	0.30mi
412 W Parkwood Dr Unit 1 Dayton, OH	2.0	1.0	900	$875	$0.97	23d	1	0.35mi
101 E Bruce Ave Dayton, OH	3.0	1.0	1455	$1,150	$0.79	2d	1	0.36mi
439 W Fairview Ave Dayton, OH	3.0	1.0	1500	$1,200	$0.80	44d	1	0.39mi
202 E Bruce Ave Apt 2 Dayton, OH	2.0	1.0	1250	$800	$0.64	23d	1	0.42mi
220 Fernwood Ave Dayton, OH	2.0	1.0	884	$900	$1.02	3d	1	0.44mi
147 Laura Ave Dayton, OH	2.0	1.0	1096	$975	$0.89	23d	1	0.45mi
152 Laura Ave Dayton, OH	2.0	1.0	990	$895	$0.90	44d	1	0.47mi
201 W Norman Ave Dayton, OH	3.0	1.0	1424	$1,200	$0.84	44d	1	0.48mi
181 W Norman Ave Dayton, OH	3.0	2.0	1228	$1,150	$0.94	44d	1	0.48mi
41 W Fairview Ave Unit 2 Dayton, OH	3.0	1.0	1452	$1,200	$0.83	14d	1	0.49mi
2327 N Main St Unit 2 Dayton, OH	2.0	1.0	900	$1,200	$1.33	23d	1	0.50mi
101 W Norman Ave Unit 101 Dayton, OH	3.0	1.0	1600	$945	$0.59	44d	1	0.52mi
1019 Cherry Dr Dayton, OH	4.0	1.0	1057	$1,125	$1.06	44d	1	0.53mi
317 Fernwood Ave Dayton, OH	3.0	1.0	1320	$1,100	$0.83	11d	1	0.54mi
228 E Siebenthaler Ave Dayton, OH	2.0	1.0	934	$1,200	$1.28	44d	1	0.54mi
167 W Hudson Ave Dayton, OH	3.0	1.5	1344	$1,185	$0.88	44d	1	0.55mi
244 E Siebenthaler Ave Dayton, OH	2.0	1.5	1273	$1,175	$0.92	2d	1	0.56mi
337 Ryburn Ave Unit 2 Dayton, OH	2.0	1.0	900	$800	$0.89	44d	1	0.59mi
628 W Norman Ave Unit 628 Dayton, OH	2.0	1.0	918	$795	$0.87	44d	1	0.59mi
1004 W Fairview Ave Dayton, OH	2.0	1.0	1053	$950	$0.90	23d	1	0.60mi
31 E Norman Ave Dayton, OH	3.0	1.0	1100	$1,150	$1.05	23d	1	0.61mi
1207 W Fairview Ave Dayton, OH	2.0	1.0	1023	$825	$0.81	44d	1	0.71mi
1207 W Fairview Ave Dayton, OH	2.0	1.0	1023	$825	$0.81	3d	1	0.71mi
419 Sandhurst Dr Dayton, OH	2.0	1.0	950	$975	$1.03	23d	1	0.72mi
234 Santa Clara Ave Dayton, OH	3.0	1.0	1368	$1,125	$0.82	44d	1	0.72mi
2247 Salem Ave Unit 2249 Dayton, OH	3.0	1.5	1300	$1,400	$1.08	44d	1	0.76mi
2247 Salem Ave Unit 2247 Dayton, OH	3.0	1.5	1300	$1,350	$1.04	3d	1	0.76mi
2232 Salem Ave Dayton, OH	3.0	1.0	1250	$1,200	$0.96	3d	1	0.78mi
69 Waverly Ave Dayton, OH	2.0	1.0	900	$850	$0.94	3d	1	0.80mi
265 Victor Ave Dayton, OH	3.0	1.0	1204	$900	$0.75	44d	1	0.82mi
1743 Radcliffe Rd Dayton, OH	3.0	1.5	1729	$1,200	$0.69	44d	1	0.85mi
519 Heather Dr Unit 1C Dayton, OH	2.0	2.0	1100	$1,095	$1.00	3d	1	0.91mi
110 Cromwell Pl Unit 5 Dayton, OH	2.0	1.0	1000	$1,099	$1.10	19d	1	0.94mi

Listing history 10 events

1. 2026-04-11
   status Pending
2. 2026-04-08
   price $68,900
3. 2026-04-01
   price $69,900
4. 2026-03-26
   price $71,900
5. 2026-03-12
   price $72,900
6. 2026-03-06
   price $73,900
7. 2026-02-25
   listed $74,900 Active
8. 1995-08-08
   soldstatus $65,000
9. 1992-04-16
   soldstatus $60,000
10. 1987-09-23
    soldstatus $48,000

ⓘ 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: $1,219 · $102/mo
• Projected year-2 tax: $1,219 · $102/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 ≥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: $13,214
• − Mortgage interest: −$3,859
• − Property taxes: −$1,219
• − Insurance: −$344
• − Repairs & maintenance: −$1,057
• − Management: −$1,057
• − Depreciation: −$2,004
• Taxable income: $3,672
• Est. tax owed @ 24.0%: −$881
• After-tax cash flow: $3,658/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

+43.5% since first listed

10 events — show timeline

• 2026-04-11 Pending — Dayton MLS
• 2026-04-08 Price Changed $68,900 Dayton MLS
• 2026-04-01 Price Changed $69,900 Dayton MLS
• 2026-03-26 Price Changed $71,900 Dayton MLS
• 2026-03-12 Price Changed $72,900 Dayton MLS
• 2026-03-06 Price Changed $73,900 Dayton MLS
• 2026-02-25 Listed $74,900 Dayton MLS
• 1995-08-08 Sold (Public Records) $65,000 Public Records
• 1992-04-16 Sold (Public Records) $60,000 Public Records
• 1987-09-23 Sold (Public Records) $48,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $1,219 · +2.5% YoY. Source: county tax records.