227 Walton Ave · Dayton, OH 45417

$89,000

3 bd · 1.0 ba · 1,193 sqft · SingleFamily public records · 164 Days on market

Built 1947 5,001 sqft lot $75/sqft · 54% above area

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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 +7.8/10.0
• ARV discount +7.5/15.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great 3 bedroom 1 bath home. Would make a great home or investment property. Cape Cod style with a full basement and Florida Room. Some windows have been replaced.

Key facts

• Florida room
• Full basement
• 5,001 sq ft lot

Tags

• FULL BASEMENT
• FLORIDA ROOM
• SOME WINDOWS REPLACED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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 (+4.1%/yr); 135 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• This rent runs 37% of the median local income ($37k/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 $615 of loan paydown is wiped out by about $3k 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 + 4.1% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 164 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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 $45k; list at $89k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 164 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 1947 — 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: 1.28% ✓
• Cap rate: 10.92%
• Cash-on-cash: 16.52%
• DSCR: 1.74
• GRM: 6.5

CMA / ARV

• ARV (median comp): $57,926
• List price: $89,000
• Delta: 53.65%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
233 Westwood Ave	0.12mi	3/1.0	1,236 (+4%)	1mo	$45,000	$36	87
352 Huron Ave	0.21mi	2/1.0 (-1)	1,240 (+4%)	2mo	$40,000	$32	77
32 S Plaza Ave	0.34mi	2/1.0 (-1)	1,218 (+2%)	3mo	$34,000	$28	74
1209 Kammer Ave	0.34mi	3/1.0	1,248 (+5%)	4mo	$40,000	$32	74
728 Leland Ave	0.53mi	3/1.0	1,210 (+1%)	2mo	$130,900	$108	71
621 Kammer Ave	0.54mi	3/1.0	1,207 (+1%)	2mo	$55,000	$46	71
400 Burleigh Ave	0.15mi	3/1.0	1,064 (-11%)	5mo	$31,790	$30	71
504 N Upland Ave	0.25mi	3/1.0	1,044 (-12%)	1mo	$70,000	$67	67
236 S Ardmore Ave	0.73mi	3/1.0	1,192 (-0%)	0mo	$45,000	$38	66
113 Anna St	0.37mi	3/1.0	1,344 (+13%)	5mo	$88,000	$65	57
552 Evergreen Ave	0.73mi	2/1.0 (-1)	1,152 (-3%)	2mo	$44,000	$38	54
467 Groveland Ave	0.71mi	3/1.5	1,368 (+15%)	2mo	$50,000	$37	38

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 · 4.06% rent growth · sell at horizon

5-year hold

• IRR: 8.7%
• Equity multiple: 1.35×
• Total profit: $8,635
• Equity at exit: $13,270

10-year hold

• IRR: 18.7%
• Equity multiple: 2.63×
• Total profit: $40,705
• Equity at exit: $7,695

Cash invested: $24,920 (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 45417

• Home prices YoY: -32.3%
• Rents YoY: 4.1%
• Active inventory: 135
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,135 high
• Mortgage (P&I): −$467
• Tax from tax record: −$50 /mo · $597/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $343

Break-even live

Break-even rent $701

Max offer price $89,000

Occupancy floor 65%

Sensitivity live

Price	-10% $394	-5% $368	+0% $343	+5% $318	+10% $293
Rent	-10% $253	-5% $298	+0% $343	+5% $388	+10% $433
Rate	-1.0pp $388	-0.5pp $366	base $343	+0.5pp $320	+1.0pp $297

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
137 Westwood Ave Dayton, OH	2.0	1.0	784	$900	$1.15	4d	1	0.16mi
70 Gramont Ave Dayton, OH	3.0	1.5	966	$1,300	$1.35	3d	1	0.35mi
617 Westwood Ave Dayton, OH	3.0	1.0	1304	$1,050	$0.81	44d	1	0.51mi
216 N Ardmore Ave Dayton, OH	3.0	1.0	1500	$1,100	$0.73	4d	1	0.55mi
828 Walton Ave Unit 832 Walton Dayton, OH	2.0	1.0	750	$795	$1.06	24d	1	0.59mi
3925 Hoover Ave Dayton, OH	2.0	1.0	936	$1,100	$1.18	3d	1	0.60mi
863 N Upland Ave Dayton, OH	3.0	1.0	1042	$1,200	$1.15	44d	1	0.60mi
437 Lorenz Ave Dayton, OH	3.0	1.0	1322	$1,200	$0.91	24d	1	0.60mi
4109 Midway Ave Dayton, OH	3.0	1.0	971	$1,000	$1.03	4d	1	0.65mi
725 Maplehurst Ave Dayton, OH	2.0	1.0	1104	$895	$0.81	44d	1	0.75mi
920 Huron Ave Dayton, OH	2.0	1.0	950	$995	$1.05	4d	1	0.77mi
635 Anna St Dayton, OH	3.0	1.0	960	$1,300	$1.35	15d	1	0.78mi
660 Gramont Ave Dayton, OH	3.0	1.0	1142	$1,050	$0.92	4d	1	0.80mi
342 Lookout Ave Dayton, OH	2.0	1.0	800	$775	$0.97	44d	1	0.86mi
342 Lookout Ave Dayton, OH	2.0	1.0	800	$750	$0.94	3d	1	0.86mi
40 S Mathison St Dayton, OH	3.0	1.0	1300	$1,200	$0.92	15d	1	0.90mi
42 S Mathison St Dayton, OH	3.0	1.0	1300	$1,220	$0.94	4d	1	0.90mi
500 Bowie Dr Unit 122 Dayton, OH	2.0	1.0	850	$910	$1.07	44d	1	0.91mi
1816 N James H McGee Blvd Apt B Dayton, OH	3.0	1.0	950	$1,150	$1.21	44d	1	0.95mi
1816 N James H McGee Blvd Apt A Dayton, OH	3.0	1.0	950	$1,200	$1.26	3d	1	0.95mi
1816 N James H McGee Blvd Unit C Dayton, OH	3.0	1.0	950	$1,150	$1.21	3d	1	0.95mi
623 Clifton Dr Apt A Dayton, OH	2.0	1.0	1200	$1,200	$1.00	3d	1	0.96mi
623 Clifton Dr Apt B Dayton, OH	2.0	1.0	1200	$1,174	$0.98	4d	1	0.96mi
652 Dennison Ave Dayton, OH	2.0	2.0	988	$1,095	$1.11	22d	1	1.02mi
1045 Shakespeare Ave Dayton, OH	3.0	1.0	1435	$1,275	$0.89	44d	1	1.02mi
1045 Philadelphia Dr Dayton, OH	2.0	1.0	1290	$1,150	$0.89	3d	1	1.03mi
673 Randolph St Dayton, OH	2.0	1.0	792	$950	$1.20	44d	1	1.06mi
3222 Athens Ave Unit C Dayton, OH	2.0	1.0	700	$700	$1.00	44d	1	1.07mi
2240 Lakeview Ave Dayton, OH	3.0	1.0	1056	$1,025	$0.97	44d	1	1.08mi
3220 Princeton Dr Dayton, OH	3.0	1.0	900	$1,000	$1.11	44d	1	1.22mi
47 Leroy St Dayton, OH	3.0	1.0	1456	$1,200	$0.82	44d	1	1.37mi
4625 Gardendale Ave Dayton, OH	3.0	1.0	864	$1,150	$1.33	3d	1	1.38mi
1119 Superior Ave Unit 1119 Dayton, OH	3.0	1.0	1435	$1,350	$0.94	4d	1	1.43mi
3207 Cornell Dr Dayton, OH	3.0	1.0	1168	$1,000	$0.86	4d	1	1.49mi
1272 Clement Ave Dayton, OH	3.0	1.0	1025	$1,350	$1.32	3d	1	1.49mi

Listing history 28 events

1. 2026-06-18
   days on market $89,000 Active 164 DOM
2. 2026-06-17
   days on market $89,000 Active 163 DOM
3. 2026-06-16
   days on market $89,000 Active 162 DOM
4. 2026-06-15
   days on market $89,000 Active 161 DOM
5. 2026-06-14
   days on market $89,000 Active 159 DOM
6. 2026-06-13
   days on market $89,000 Active 158 DOM
7. 2026-06-10
   days on market $89,000 Active 156 DOM
8. 2026-06-09
   days on market $89,000 Active 155 DOM
9. 2026-06-08
   days on market $89,000 Active 154 DOM
10. 2026-06-07
    days on market $89,000 Active 153 DOM
11. 2026-06-05
    days on market $89,000 Active 150 DOM
12. 2026-06-03
    days on market $89,000 Active 149 DOM
13. 2026-06-02
    days on market $89,000 Active 148 DOM
14. 2026-06-01
    days on market $89,000 Active 147 DOM
15. 2026-05-31
    days on market $89,000 Active 146 DOM
16. 2026-01-05
    listed $89,000 Active 166-char remark

    Show marketing remark (163 chars)

    Great 3 bedroom 1 bath home. Would make a great home or investment property. Cape Cod style with a full basement and Florida Room, Some windows have been replaced.

17. 2026-01-05
    listed $89,000 Active 163-char remark

    Show marketing remark (163 chars)

    Great 3 bedroom 1 bath home. Would make a great home or investment property. Cape Cod style with a full basement and Florida Room, Some windows have been replaced.

18. 2025-12-09
    historical
19. 2025-08-13
    listed $105,000 Active
20. 2025-01-03
    historical
21. 2025-01-03
    soldstatus $45,000 Closed
22. 2024-12-09
    status Pending
23. 2024-07-24
    status Pending
24. 2024-07-24
    historical Active/Pending
25. 2024-07-17
    listed $38,000 Active
26. 2022-06-09
    historical
27. 2022-06-07
    listed $35,000 Active
28. 2002-03-07
    soldstatus $57,000

ⓘ 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: $597 · $50/mo
• Projected year-2 tax: $993 · $83/mo
• Expected delta: +$396/yr (+$33/mo · 66.2%)

ⓘ 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 · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,621
• − Mortgage interest: −$4,985
• − Property taxes: −$597
• − Insurance: −$445
• − Repairs & maintenance: −$1,090
• − Management: −$1,090
• − Depreciation: −$2,589
• Taxable income: $2,825
• Est. tax owed @ 24.0%: −$678
• After-tax cash flow: $3,440/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): 28,186
• Household income: $36,945
• Rent vs Own: 52.1% rent · 47.9% own
• Severe rent burden: 1822.0

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 (71%)
• Race & ethnicity: Black 71% White 20% Two or more races 8% Hispanic / Latino 3%
• Common ancestry: Romanian 0%
• Foreign-born: 3% · Canada
• Languages at home: 96% 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: ▼ -92.43%
• Current HPI: 193.4175
• Rent YoY: ▲ 4.06%
• 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

+56.1% since first listed

13 events — show timeline

• 2026-01-05 Listed $89,000 Dayton MLS
• 2026-01-05 Listed $89,000 WRIST
• 2025-12-09 Listing Removed — Dayton MLS
• 2025-08-13 Listed $105,000 Dayton MLS
• 2025-01-03 Listing Removed — Dayton MLS
• 2025-01-03 Sold (MLS) $45,000 Dayton MLS
• 2024-12-09 Pending — Dayton MLS
• 2024-07-24 Pending — Dayton MLS
• 2024-07-24 Contingent — Dayton MLS
• 2024-07-17 Listed $38,000 Dayton MLS
• 2022-06-09 Listing Removed — Dayton MLS
• 2022-06-07 Listed $35,000 Dayton MLS
• 2002-03-07 Sold (Public Records) $57,000 Public Records

Property tax history

-0.2%/yr

Latest (2025): $597 · -43.8% YoY. Source: county tax records.