1601 Salem Ave · Dayton, OH 45406

$129,900

3 bd · 2.0 ba · 2,192 sqft · SingleFamily public records · 365 Days on market

Built 1920 6,534 sqft lot $59/sqft · 33% below area Est $193k · 33% 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 +18.8/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +4.3/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Curb Offers Only on this 3 bedroom, 3-1/2 bathroom home with tons of potential. adjacent lot is also for sale. Over 2,100 sq ft of living space with potential bonus attic space.

Key facts

• 6,534 sq ft lot
• 2 garage spots
• Built 1920

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $131 ($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 $121k (6.5% below list).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.

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 (+3.0%/yr); 156 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% 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 35% of the median local income ($42k/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 $898 of loan paydown is wiped out by about $4k 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 365 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $15k; list at $130k implies a 766% 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 $114,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 365 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 7.51%
• Cash-on-cash: 4.33%
• DSCR: 1.19
• GRM: 8.9

CMA / ARV

• ARV (median comp): $192,878
• List price: $129,900
• Delta: -32.65%
• 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
1728 Salem Ave	0.12mi	3/1.5	2,191 (-0%)	3mo	$188,000	$86	90
1215 Cumberland Ave	0.20mi	3/2.5	2,108 (-4%)	0mo	$215,000	$102	82
1642 Harvard Blvd	0.22mi	3/1.5	2,136 (-3%)	9mo	$170,000	$80	76
104 W Norman Ave	0.48mi	3/2.0	2,184 (-0%)	8mo	$53,000	$24	70
1549 Cory Dr	0.25mi	3/1.5	1,922 (-12%)	2mo	$195,000	$101	64
1643 Earlham Dr	0.71mi	4/2.0 (+1)	2,216 (+1%)	4mo	$180,000	$81	56
1506 Cory Dr	0.30mi	3/2.5	2,454 (+12%)	10mo	$197,000	$80	56
27 E Hudson Ave	0.72mi	4/2.0 (+1)	2,020 (-8%)	7mo	$129,975	$64	43
409 Otterbein Ave	0.49mi	4/1.5 (+1)	1,901 (-13%)	8mo	$80,000	$42	42
1984 Burroughs Dr	0.66mi	3/1.5	1,912 (-13%)	7mo	$255,000	$133	40
74 Fountain Ave	0.62mi	4/1.5 (+1)	1,880 (-14%)	5mo	$40,000	$21	36
1628 Philadelphia Dr	0.74mi	4/3.5 (+1)	1,888 (-14%)	0mo	$270,000	$143	31

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 · 3.03% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.65×
• Total profit: $-12,673
• Equity at exit: $19,369

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-214
• Equity at exit: $11,231

Cash invested: $36,372 (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 45406

• Rents YoY: 3.0%
• Active inventory: 156
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,214 high
• Mortgage (P&I): −$681
• Tax from tax record: −$92 /mo · $1,109/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $131

Break-even live

Break-even rent $1,048

Max offer price $129,900

Occupancy floor 84%

Sensitivity live

Price	-10% $205	-5% $168	+0% $131	+5% $95	+10% $58
Rent	-10% $35	-5% $83	+0% $131	+5% $179	+10% $227
Rate	-1.0pp $197	-0.5pp $164	base $131	+0.5pp $98	+1.0pp $63

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1743 Radcliffe Rd Dayton, OH	3.0	1.5	1729	$1,200	$0.69	45d	1	0.26mi
518 Delaware Ave Dayton, OH	2.0	1.0	1500	$750	$0.50	45d	1	0.29mi
1225 Amherst Pl Dayton, OH	3.0	1.0	1548	$1,300	$0.84	15d	1	0.35mi
201 W Norman Ave Dayton, OH	3.0	1.0	1424	$1,200	$0.84	45d	1	0.39mi
439 W Fairview Ave Dayton, OH	3.0	1.0	1500	$1,200	$0.80	45d	1	0.47mi
101 W Norman Ave Unit 101 Dayton, OH	3.0	1.0	1600	$945	$0.59	45d	1	0.50mi
942 Harvard Blvd Dayton, OH	3.0	2.0	1596	$1,200	$0.75	4d	1	0.58mi
41 W Fairview Ave Unit 2 Dayton, OH	3.0	1.0	1452	$1,200	$0.83	15d	1	0.60mi
338 Kenwood Ave Dayton, OH	3.0	1.5	1512	$1,195	$0.79	45d	1	0.64mi
1927 Burroughs Dr Dayton, OH	3.0	2.0	1409	$1,245	$0.88	15d	1	0.69mi
132 Wroe Ave Unit 132 Dayton, OH	3.0	2.5	1934	$1,297	$0.67	45d	1	0.78mi
424 Lexington Ave Dayton, OH	3.0	2.0	1536	$1,025	$0.67	45d	1	0.78mi
1501 Viola Ave Dayton, OH	3.0	1.0	1952	$1,175	$0.60	15d	1	0.79mi
26 W Beechwood Ave Dayton, OH	3.0	1.5	1468	$1,050	$0.72	45d	1	0.81mi
1011 N Broadway St Dayton, OH	3.0	1.5	1700	$950	$0.56	45d	1	0.84mi
138 Rockwood Ave Dayton, OH	3.0	1.5	1439	$1,200	$0.83	24d	1	0.90mi
136 Rockwood Ave Dayton, OH	3.0	1.5	1439	$1,200	$0.83	45d	1	0.90mi
1119 Superior Ave Unit 1119 Dayton, OH	3.0	1.0	1435	$1,350	$0.94	4d	1	0.92mi
2141 Philadelphia Dr Dayton, OH	3.0	1.0	1736	$1,395	$0.80	45d	1	0.95mi
39 E Maplewood Ave Dayton, OH	4.0	1.5	1560	$1,050	$0.67	4d	1	0.98mi
52 Fernwood Ave Dayton, OH	2.0	1.0	1926	$925	$0.48	45d	1	1.07mi
253 E Hillcrest Ave Dayton, OH	3.0	2.5	2569	$1,800	$0.70	4d	1	1.11mi
1045 Shakespeare Ave Dayton, OH	3.0	1.0	1435	$1,275	$0.89	45d	1	1.11mi
534 Geyer St Dayton, OH	4.0	1.0	1640	$1,530	$0.93	24d	1	1.14mi
101 E Bruce Ave Dayton, OH	3.0	1.0	1455	$1,150	$0.79	4d	1	1.19mi
3668 Karwin Dr Unit 3672 Dayton, OH	2.0	1.0	1500	$995	$0.66	24d	1	1.39mi
848 Riverview Ter Apt 607 Dayton, OH	2.0	1.0	1400	$1,300	$0.93	24d	1	1.40mi
3672 Karwin Dr Unit 3672 Dayton, OH	2.0	1.0	1500	$995	$0.66	45d	1	1.40mi

Listing history 20 events

1. 2026-06-18
   days on market $129,900 Active 365 DOM
2. 2026-06-17
   days on market $129,900 Active 364 DOM
3. 2026-06-16
   days on market $129,900 Active 363 DOM
4. 2026-06-15
   days on market $129,900 Active 362 DOM
5. 2026-06-14
   days on market $129,900 Active 360 DOM
6. 2026-06-13
   days on market $129,900 Active 359 DOM
7. 2026-06-10
   days on market $129,900 Active 357 DOM
8. 2026-06-09
   days on market $129,900 Active 356 DOM
9. 2026-06-08
   days on market $129,900 Active 355 DOM
10. 2026-06-07
    days on market $129,900 Active 354 DOM
11. 2026-06-05
    days on market $129,900 Active 351 DOM
12. 2026-06-03
    days on market $129,900 Active 350 DOM
13. 2026-06-02
    days on market $129,900 Active 349 DOM
14. 2026-06-01
    days on market $129,900 Active 348 DOM
15. 2026-05-31
    days on market $129,900 Active 347 DOM
16. 2026-01-05
    status Active 177-char remark

    Show marketing remark (177 chars)

    Curb Offers Only on this 3 bedroom, 3-1/2 bathroom home with tons of potential. adjacent lot is also for sale. Over 2,100 sq ft of living space with potential bonus attic space.

17. 2026-01-01
    historical 177-char remark

    Show marketing remark (177 chars)

    Curb Offers Only on this 3 bedroom, 3-1/2 bathroom home with tons of potential. adjacent lot is also for sale. Over 2,100 sq ft of living space with potential bonus attic space.

18. 2025-06-14
    listed $129,900 Active 177-char remark

    Show marketing remark (177 chars)

    Curb Offers Only on this 3 bedroom, 3-1/2 bathroom home with tons of potential. adjacent lot is also for sale. Over 2,100 sq ft of living space with potential bonus attic space.

19. 1989-09-13
    soldstatus $15,000
20. 1978-09-15
    soldstatus $16,000

ⓘ 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: $1,109 · $92/mo
• Projected year-2 tax: $1,568 · $131/mo
• Expected delta: +$458/yr (+$38/mo · 41.3%)

ⓘ 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: $14,569
• − Mortgage interest: −$7,276
• − Property taxes: −$1,109
• − Insurance: −$650
• − Repairs & maintenance: −$1,166
• − Management: −$1,166
• − Depreciation: −$3,779
• Taxable loss: −$576
• Est. tax savings @ 24.0%: +$138
• After-tax cash flow: $1,714/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): 19,991
• Household income: $41,796
• Rent vs Own: 52.9% rent · 47.1% own
• Severe rent burden: 1504.0

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 (75%)
• Race & ethnicity: Black 75% White 16% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 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: ▼ -113.75%
• Current HPI: 197.1302
• Rent YoY: ▲ 3.03%
• 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

+711.9% since first listed

5 events — show timeline

• 2026-01-05 Relisted — CBRMLS
• 2026-01-01 Listing Removed — CBRMLS
• 2025-06-14 Listed $129,900 CBRMLS
• 1989-09-13 Sold (Public Records) $15,000 Public Records
• 1978-09-15 Sold (Public Records) $16,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $1,109 · -0.2% YoY. Source: county tax records.