420 E Siebenthaler Ave · Dayton, OH 45405

$245,000

16 bd · 1.0 ba · 3,948 sqft · MultiFamily public records · 34 Days on market

Built 1950 5,663 sqft lot $62/sqft · at area comps Est $244k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.4/15.0
• 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 (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Great income earning potential with this all brick 4 unit building offering renovations done throughout the building since 2018. Including but not limited to kitchens, baths, flooring, paint, electrical upgrades, HVAC and water heaters. There is coin operated laundry in the basement for use by the tenants. This property is approved for HUD section 8 assistance.

Key facts

• 5,663 sq ft lot
• Built 1950
• Listed 34 days

Property features AI

Finance

• Financial info: Gross income: $29,234; For sale

Exterior

• Parking: No garage; On-street parking
• Security: Smoke detector(s)
• Utilities: Public water; Sewer available; Cable available
• Home design: Brick construction; 2-story building; Residential zoning
• Construction: Brick exterior
• Exterior features: Fenced yard

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: One-bedroom units (4 total units)
• Bathrooms: Four full bathrooms
• Heating & cooling: Forced air heating; Gravity heating; Natural gas heating; Window unit cooling
• Interior features: Ceiling fan(s); Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $245k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $281/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $245k).
• Recommended offer: $238k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.8% 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; lower-income renter base — watch delinquency; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $3,620/mo this rent would consume 99% 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 $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.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $69k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y ago 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 $84k; list at $245k implies a 192% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $237,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% 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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.48% ✓
• Cap rate: 11.79%
• Cash-on-cash: 19.63%
• DSCR: 1.87
• GRM: 5.6

CMA / ARV

• ARV (median comp): $244,235
• List price: $245,000
• Delta: 0.31%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.34% rent growth · sell at horizon

5-year hold

• IRR: 13.2%
• Equity multiple: 1.54×
• Total profit: $36,815
• Equity at exit: $36,530

10-year hold

• IRR: 23.1%
• Equity multiple: 3.12×
• Total profit: $145,299
• Equity at exit: $21,183

Cash invested: $68,600 (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: 22.6×

Monthly cashflow live

• Estimated rent: $3,620 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$350 /mo · $4,206/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$760
• Net cashflow: $1,122

Break-even live

Break-even rent $2,199

Max offer price $245,000

Occupancy floor 64%

Sensitivity live

Price	-10% $1,261	-5% $1,192	+0% $1,122	+5% $1,053	+10% $984
Rent	-10% $836	-5% $979	+0% $1,122	+5% $1,265	+10% $1,408
Rate	-1.0pp $1,246	-0.5pp $1,185	base $1,122	+0.5pp $1,059	+1.0pp $994

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$3,620
Total (4 units)			$3,620

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-19
   status $245,000 Pending 34 DOM
2. 2026-06-18
   days on market $245,000 ActiveUnderContract 34 DOM
3. 2026-06-17
   days on market $245,000 ActiveUnderContract 33 DOM
4. 2026-06-16
   days on market $245,000 ActiveUnderContract 32 DOM
5. 2026-06-15
   days on market $245,000 ActiveUnderContract 31 DOM
6. 2026-06-14
   days on market $245,000 ActiveUnderContract 29 DOM
7. 2026-06-13
   days on market $245,000 ActiveUnderContract 28 DOM
8. 2026-06-10
   days on market $245,000 ActiveUnderContract 26 DOM
9. 2026-06-09
   days on market $245,000 ActiveUnderContract 25 DOM
10. 2026-06-08
    days on market $245,000 ActiveUnderContract 24 DOM
11. 2026-06-07
    days on market $245,000 ActiveUnderContract 23 DOM
12. 2026-06-05
    days on market $245,000 ActiveUnderContract 20 DOM
13. 2026-06-03
    days on market $245,000 ActiveUnderContract 19 DOM
14. 2026-06-02
    days on market $245,000 ActiveUnderContract 18 DOM
15. 2026-06-01
    days on market $245,000 ActiveUnderContract 17 DOM
16. 2026-05-31
    days on market $245,000 ActiveUnderContract 16 DOM
17. 2026-05-15
    status Active 363-char remark
18. 2026-05-01
    historical 363-char remark
19. 2026-04-29
    listed $245,000 363-char remark

    Show marketing remark (363 chars)

    Great income earning potential with this all brick 4 unit building offering renovations done throughout the building since 2018. Including but not limited to kitchens, baths, flooring, paint, electrical upgrades, HVAC and water heaters. There is coin operated laundry in the basement for use by the tenants. This property is approved for HUD section 8 assistance.

20. 2018-06-26
    soldstatus $83,900
21. 2018-06-19
    soldstatus $83,900 Sold 517-char remark

    Show marketing remark (517 chars)

    Best Deal in Riverside! This low-maintenance 75% occupied quad is ready for it's new homeowners! (Or investors!). All tenants have been pre-screened by tenant verification services. Tenants pay gas & electric. Coined washer and dryer which seller receives portion as lease payment. Apartment 2 has refinished hardwood flooring throughout unit. Handicap ramp in back. Along with newer windows and newer roof. Close to Wegerzyn Gardens Metro Park & public transportation. Hurry and schedule a showing today!

22. 2018-06-19
    soldstatus $83,900 Closed 517-char remark

    Show marketing remark (517 chars)

    Best Deal in Riverside! This low-maintenance 75% occupied quad is ready for it's new homeowners! (Or investors!). All tenants have been pre-screened by tenant verification services. Tenants pay gas & electric. Coined washer and dryer which seller receives portion as lease payment. Apartment 2 has refinished hardwood flooring throughout unit. Handicap ramp in back. Along with newer windows and newer roof. Close to Wegerzyn Gardens Metro Park & public transportation. Hurry and schedule a showing today!

23. 2018-06-10
    status Pending 517-char remark

    Show marketing remark (517 chars)

    Best Deal in Riverside! This low-maintenance 75% occupied quad is ready for it's new homeowners! (Or investors!). All tenants have been pre-screened by tenant verification services. Tenants pay gas & electric. Coined washer and dryer which seller receives portion as lease payment. Apartment 2 has refinished hardwood flooring throughout unit. Handicap ramp in back. Along with newer windows and newer roof. Close to Wegerzyn Gardens Metro Park & public transportation. Hurry and schedule a showing today!

24. 2018-05-14
    historical Active/Pending 517-char remark

    Show marketing remark (517 chars)

    Best Deal in Riverside! This low-maintenance 75% occupied quad is ready for it's new homeowners! (Or investors!). All tenants have been pre-screened by tenant verification services. Tenants pay gas & electric. Coined washer and dryer which seller receives portion as lease payment. Apartment 2 has refinished hardwood flooring throughout unit. Handicap ramp in back. Along with newer windows and newer roof. Close to Wegerzyn Gardens Metro Park & public transportation. Hurry and schedule a showing today!

25. 2018-05-04
    price $84,900 517-char remark

    Show marketing remark (517 chars)

    Best Deal in Riverside! This low-maintenance 75% occupied quad is ready for it's new homeowners! (Or investors!). All tenants have been pre-screened by tenant verification services. Tenants pay gas & electric. Coined washer and dryer which seller receives portion as lease payment. Apartment 2 has refinished hardwood flooring throughout unit. Handicap ramp in back. Along with newer windows and newer roof. Close to Wegerzyn Gardens Metro Park & public transportation. Hurry and schedule a showing today!

26. 2018-04-25
    status Active 517-char remark

    Show marketing remark (517 chars)

    Best Deal in Riverside! This low-maintenance 75% occupied quad is ready for it's new homeowners! (Or investors!). All tenants have been pre-screened by tenant verification services. Tenants pay gas & electric. Coined washer and dryer which seller receives portion as lease payment. Apartment 2 has refinished hardwood flooring throughout unit. Handicap ramp in back. Along with newer windows and newer roof. Close to Wegerzyn Gardens Metro Park & public transportation. Hurry and schedule a showing today!

27. 2018-04-13
    historical Active/Pending 517-char remark

    Show marketing remark (517 chars)

    Best Deal in Riverside! This low-maintenance 75% occupied quad is ready for it's new homeowners! (Or investors!). All tenants have been pre-screened by tenant verification services. Tenants pay gas & electric. Coined washer and dryer which seller receives portion as lease payment. Apartment 2 has refinished hardwood flooring throughout unit. Handicap ramp in back. Along with newer windows and newer roof. Close to Wegerzyn Gardens Metro Park & public transportation. Hurry and schedule a showing today!

28. 2018-03-26
    listed $89,900 Active 517-char remark

    Show marketing remark (517 chars)

    Best Deal in Riverside! This low-maintenance 75% occupied quad is ready for it's new homeowners! (Or investors!). All tenants have been pre-screened by tenant verification services. Tenants pay gas & electric. Coined washer and dryer which seller receives portion as lease payment. Apartment 2 has refinished hardwood flooring throughout unit. Handicap ramp in back. Along with newer windows and newer roof. Close to Wegerzyn Gardens Metro Park & public transportation. Hurry and schedule a showing today!

29. 2005-08-03
    soldstatus $97,000
30. 1996-03-04
    soldstatus $70,000
31. 1996-03-04
    soldstatus $70,000
32. 1994-03-01
    soldstatus $62,500
33. 1986-07-29
    soldstatus $38,000

ⓘ 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: $4,206 · $350/mo
• Projected year-2 tax: $4,206 · $350/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 4/10 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: $43,440
• − Mortgage interest: −$13,724
• − Property taxes: −$4,206
• − Insurance: −$1,225
• − Repairs & maintenance: −$3,475
• − Management: −$3,475
• − Depreciation: −$7,127
• Taxable income: $10,208
• Est. tax owed @ 24.0%: −$2,450
• After-tax cash flow: $11,019/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

+544.7% since first listed

20 events — show timeline

• 2026-05-27 Pending — WRIST
• 2026-05-27 Contingent — Dayton MLS
• 2026-05-15 Relisted — Dayton MLS
• 2026-05-01 Listing Removed — Dayton MLS
• 2026-04-29 Listed $245,000 Dayton MLS
• 2026-04-29 Listed $245,000 WRIST
• 2018-06-26 Sold (Public Records) $83,900 Public Records
• 2018-06-19 Sold (MLS) $83,900 Dayton MLS
• 2018-06-19 Sold (MLS) $83,900 Dayton MLS
• 2018-06-10 Pending — Dayton MLS
• 2018-05-14 Contingent — Dayton MLS
• 2018-05-04 Price Changed $84,900 Dayton MLS
• 2018-04-25 Relisted — Dayton MLS
• 2018-04-13 Contingent — Dayton MLS
• 2018-03-26 Listed $89,900 Dayton MLS
• 2005-08-03 Sold (Public Records) $97,000 Public Records
• 1996-03-04 Sold (Public Records) $70,000 Public Records
• 1996-03-04 Sold (Public Records) $70,000 Public Records
• 1994-03-01 Sold (Public Records) $62,500 Public Records
• 1986-07-29 Sold (Public Records) $38,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $4,206 · -1.0% YoY. Source: county tax records.