337 Cherry Dr · Dayton, OH 45405

$70,000

4 bd · 2.0 ba · 2,040 sqft · MultiFamily public records · 155 Days on market

Built 1919 4,400 sqft lot $34/sqft · 48% below area Est $136k · 48% 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 +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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Duplex/multifamily property located at 337 Cherry Dr. , Dayton, OH. These two-story offers approximately 2,040 sq. ft. of building area with 12 total rooms and an estimated 4,400 sq. ft. of total room area. The property features four bedrooms and two full bathrooms. Equipped with central heating, including basement, and gas heating fuel. Situated on a quiet street with convenient access to shopping, major roadways, and local amenities. Ideal opportunity for an owner-occupant or investor seeking a multifamily property in an established Dayton neighborhood.

Key facts

• Central heating
• Quiet street
• Two story

Tags

• DUPLEX MULTIFAMILY PROPERTY
• TWO STORY
• CENTRAL HEATING
• QUIET STREET
• CONVENIENT ACCESS TO SHOPPING
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $70k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $516/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 24.0% 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; 23 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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).
• At $1,977/mo this rent would consume 54% of the median local household income ($44k/yr) (locally 1475% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 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 $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $55k (44%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $9k; list at $70k implies a 678% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 2.82% ✓
• Cap rate: 23.99%
• Cash-on-cash: 63.21%
• DSCR: 3.81
• GRM: 3.0

CMA / ARV

• ARV (median comp): $135,887
• List price: $70,000
• Delta: -48.49%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Marie Ave	0.06mi	4/2.0	2,200 (+8%)	16mo	$179,000	$81	71
1263 Linda Vista Ave	0.30mi	4/2.0	1,944 (-5%)	24mo	$110,000	$57	58
56 E Parkwood Dr	0.36mi	4/2.0	1,776 (-13%)	14mo	$105,000	$59	49
78-80 Pointview Ave	0.53mi	4/2.0	1,764 (-14%)	6mo	$133,000	$75	48
605 Delaware Ave	0.60mi	5/3.0 (+1)	2,240 (+10%)	5mo	$180,000	$80	42
56 Fernwood Ave Unit A,B,C,D	0.56mi	4/4.0	2,300 (+13%)	12mo	$228,000	$99	34
22 Ridge Ave	0.67mi	3/3.0 (-1)	1,890 (-7%)	18mo	$169,495	$90	32

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: 63.8%
• Equity multiple: 3.92×
• Total profit: $57,167
• Equity at exit: $10,437

10-year hold

• IRR: 68.7%
• Equity multiple: 8.45×
• Total profit: $146,071
• Equity at exit: $6,052

Cash invested: $19,600 (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: 5.9×

Monthly cashflow live

• Estimated rent: $1,977 high
• Mortgage (P&I): −$367
• Tax from tax record: −$133 /mo · $1,599/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $1,032

Break-even live

Break-even rent $670

Max offer price $70,000

Occupancy floor 43%

Sensitivity live

Price	-10% $1,072	-5% $1,052	+0% $1,032	+5% $1,013	+10% $993
Rent	-10% $876	-5% $954	+0% $1,032	+5% $1,110	+10% $1,189
Rate	-1.0pp $1,068	-0.5pp $1,050	base $1,032	+0.5pp $1,014	+1.0pp $996

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,978
Total (2 units)			$1,977

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 W Norman Ave Dayton, OH	3.0	1.0	1424	$1,200	$0.84	45d	1	0.14mi
439 W Fairview Ave Dayton, OH	3.0	1.0	1500	$1,200	$0.80	45d	1	0.16mi
101 W Norman Ave Unit 101 Dayton, OH	3.0	1.0	1600	$945	$0.59	45d	1	0.24mi
41 W Fairview Ave Unit 2 Dayton, OH	3.0	1.0	1452	$1,200	$0.83	15d	1	0.28mi
26 W Beechwood Ave Dayton, OH	3.0	1.5	1468	$1,050	$0.72	45d	1	0.30mi
39 E Maplewood Ave Dayton, OH	4.0	1.5	1560	$1,050	$0.67	4d	1	0.47mi
1743 Radcliffe Rd Dayton, OH	3.0	1.5	1729	$1,200	$0.69	45d	1	0.57mi
253 E Hillcrest Ave Dayton, OH	3.0	2.5	2569	$1,800	$0.70	3d	1	0.66mi
101 E Bruce Ave Dayton, OH	3.0	1.0	1455	$1,150	$0.79	3d	1	0.68mi
1927 Burroughs Dr Dayton, OH	3.0	2.0	1409	$1,245	$0.88	15d	1	0.82mi
1225 Amherst Pl Dayton, OH	3.0	1.0	1548	$1,300	$0.84	15d	1	0.82mi
338 Kenwood Ave Dayton, OH	3.0	1.5	1512	$1,195	$0.79	45d	1	0.85mi
1501 Viola Ave Dayton, OH	3.0	1.0	1952	$1,175	$0.60	15d	1	0.87mi
942 Harvard Blvd Dayton, OH	3.0	2.0	1596	$1,200	$0.75	4d	1	0.96mi
932 Harvard Blvd Dayton, OH	5.0	2.0	1986	$1,500	$0.76	45d	1	0.96mi
2141 Philadelphia Dr Dayton, OH	3.0	1.0	1736	$1,395	$0.80	45d	1	0.97mi
132 Wroe Ave Unit 132 Dayton, OH	3.0	2.5	1934	$1,297	$0.67	45d	1	1.07mi
138 Rockwood Ave Dayton, OH	3.0	1.5	1439	$1,200	$0.83	24d	1	1.13mi
136 Rockwood Ave Dayton, OH	3.0	1.5	1439	$1,200	$0.83	45d	1	1.14mi
534 Geyer St Dayton, OH	4.0	1.0	1640	$1,530	$0.93	24d	1	1.27mi
424 Lexington Ave Dayton, OH	3.0	2.0	1536	$1,025	$0.67	45d	1	1.28mi
1011 N Broadway St Dayton, OH	3.0	1.5	1700	$950	$0.56	45d	1	1.29mi
1119 Superior Ave Unit 1119 Dayton, OH	3.0	1.0	1435	$1,350	$0.94	4d	1	1.42mi

Listing history 24 events

1. 2026-06-18
   days on market $70,000 Active 155 DOM
2. 2026-06-17
   days on market $70,000 Active 154 DOM
3. 2026-06-16
   days on market $70,000 Active 153 DOM
4. 2026-06-15
   days on market $70,000 Active 152 DOM
5. 2026-06-14
   days on market $70,000 Active 150 DOM
6. 2026-06-13
   days on market $70,000 Active 149 DOM
7. 2026-06-10
   days on market $70,000 Active 147 DOM
8. 2026-06-09
   days on market $70,000 Active 146 DOM
9. 2026-06-08
   days on market $70,000 Active 145 DOM
10. 2026-06-07
    days on market $70,000 Active 144 DOM
11. 2026-06-05
    days on market $70,000 Active 141 DOM
12. 2026-06-03
    days on market $70,000 Active 140 DOM
13. 2026-06-02
    days on market $70,000 Active 139 DOM
14. 2026-06-01
    days on market $70,000 Active 138 DOM
15. 2026-05-31
    days on market $70,000 Active 137 DOM
16. 2026-03-25
    price $90,000 561-char remark

    Show marketing remark (561 chars)

    Duplex/multifamily property located at 337 Cherry Dr. , Dayton, OH. These two-story offers approximately 2,040 sq. ft. of building area with 12 total rooms and an estimated 4,400 sq. ft. of total room area. The property features four bedrooms and two full bathrooms. Equipped with central heating, including basement, and gas heating fuel. Situated on a quiet street with convenient access to shopping, major roadways, and local amenities. Ideal opportunity for an owner-occupant or investor seeking a multifamily property in an established Dayton neighborhood.

17. 2026-03-06
    price $110,000 561-char remark

    Show marketing remark (561 chars)

    Duplex/multifamily property located at 337 Cherry Dr. , Dayton, OH. These two-story offers approximately 2,040 sq. ft. of building area with 12 total rooms and an estimated 4,400 sq. ft. of total room area. The property features four bedrooms and two full bathrooms. Equipped with central heating, including basement, and gas heating fuel. Situated on a quiet street with convenient access to shopping, major roadways, and local amenities. Ideal opportunity for an owner-occupant or investor seeking a multifamily property in an established Dayton neighborhood.

18. 2026-01-12
    listed $125,000 Active 561-char remark

    Show marketing remark (561 chars)

    Duplex/multifamily property located at 337 Cherry Dr. , Dayton, OH. These two-story offers approximately 2,040 sq. ft. of building area with 12 total rooms and an estimated 4,400 sq. ft. of total room area. The property features four bedrooms and two full bathrooms. Equipped with central heating, including basement, and gas heating fuel. Situated on a quiet street with convenient access to shopping, major roadways, and local amenities. Ideal opportunity for an owner-occupant or investor seeking a multifamily property in an established Dayton neighborhood.

19. 2018-11-01
    historical
20. 2018-05-07
    listed $65,000 Active
21. 2015-05-01
    soldstatus $9,000 Closed
22. 2015-05-01
    soldstatus $9,000
23. 2015-03-25
    historical
24. 2015-03-06
    listed $12,500

ⓘ 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: $1,599 · $133/mo
• Projected year-2 tax: $1,599 · $133/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: $23,724
• − Mortgage interest: −$3,921
• − Property taxes: −$1,599
• − Insurance: −$350
• − Repairs & maintenance: −$1,898
• − Management: −$1,898
• − Depreciation: −$2,036
• Taxable income: $12,022
• Est. tax owed @ 24.0%: −$2,885
• After-tax cash flow: $9,503/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

+620.0% since first listed

9 events — show timeline

• 2026-03-25 Price Changed $90,000 Dayton MLS
• 2026-03-06 Price Changed $110,000 Dayton MLS
• 2026-01-12 Listed $125,000 Dayton MLS
• 2018-11-01 Listing Removed — Dayton MLS
• 2018-05-07 Listed $65,000 Dayton MLS
• 2015-05-01 Sold (MLS) $9,000 Dayton MLS
• 2015-05-01 Sold (MLS) $9,000 Dayton MLS
• 2015-03-25 Listing Removed — Dayton MLS
• 2015-03-06 Listed $12,500 Dayton MLS

Property tax history

+7.2%/yr

Latest (2025): $1,599 · +29.2% YoY. Source: county tax records.