5023 Hulman Dr · Dayton, OH 45406

$94,900

3 bd · 1.0 ba · 972 sqft · SingleFamily public records · 32 Days on market

Built 1956 7,370 sqft lot $98/sqft · 12% below area Est $108k · 12% 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 +24.7/30.0
• ARV discount +13.1/15.0
• DSCR +8.0/10.0
• 1% rule +5.8/10.0
• 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

Welcome to this charming and solid brick ranch, perfectly situated on a spacious corner lot in an established Dayton neighborhood. Built in 1956, this home offers a classic and efficient floor plan featuring 3 bedrooms and 1 bathroom across nearly 1,000 square feet of comfortable living space. The low-maintenance brick exterior and tidy yard provide excellent curb appeal, while the backyard offers ample room for outdoor recreation or gardening. Located within the Dayton City School District, this property is conveniently positioned just minutes from local shopping, dining, and public transportation, with easy access to downtown Dayton and major highways. Whether you are an investor looking for a turnkey addition to your rental portfolio or a first-time buyer ready to make a house a home, 5023 Hulman Dr offers significant potential and value. Don't miss out on this fantastic opportunity in a quiet, residential setting!

Key facts

• Outdoor recreation
• Backyard
• Corner lot

Tags

• BRICK RANCH
• CORNER LOT
• BACKYARD
• DAYTON CITY SCHOOL DISTRICT
• OUTDOOR RECREATION
• LOCAL SHOPPING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $199 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $92k (3.0% 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; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $656 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.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,053 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 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 1956 — 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: 1.08% ✓
• Cap rate: 8.81%
• Cash-on-cash: 8.99%
• DSCR: 1.40
• GRM: 7.7

CMA / ARV

• ARV (median comp): $108,399
• List price: $94,900
• Delta: -12.45%
• 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
4625 Saint Johns Ave	0.30mi	3/2.5	1,015 (+4%)	6mo	$105,000	$103	67
4647 Greenwich Village Ave	0.33mi	3/1.0	1,057 (+9%)	5mo	$20,000	$19	66
3462 Arlene Ave	0.44mi	3/1.0	1,044 (+7%)	3mo	$130,000	$125	65
4354 Free Pike	0.46mi	3/1.0	1,044 (+7%)	3mo	$82,500	$79	64
4477 Gatewood Pl	0.56mi	3/1.5	1,032 (+6%)	1mo	$144,897	$140	61
4867 Glencross Dr	0.40mi	3/1.0	1,092 (+12%)	1mo	$172,000	$158	60
2451 Grant Ave	0.66mi	3/1.0	1,056 (+9%)	3mo	$75,000	$71	53
4466 Gatewood Pl	0.54mi	3/1.0	864 (-11%)	5mo	$77,400	$90	52
2504 Grant Ave	0.69mi	4/1.0 (+1)	1,056 (+9%)	1mo	$95,000	$90	48
4601 Curundu Ave	0.72mi	3/1.0	884 (-9%)	5mo	$92,000	$104	47
4460 Curundu Ave	0.71mi	3/1.0	864 (-11%)	3mo	$80,000	$93	46
4288 Redonda Ln	0.65mi	3/2.0	864 (-11%)	4mo	$125,000	$145	44

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: -2.7%
• Equity multiple: 0.90×
• Total profit: $-2,676
• Equity at exit: $14,150

10-year hold

• IRR: 7.0%
• Equity multiple: 1.53×
• Total profit: $14,083
• Equity at exit: $8,205

Cash invested: $26,572 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,028 high
• Mortgage (P&I): −$498
• Tax from tax record: −$76 /mo · $907/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $199

Break-even live

Break-even rent $776

Max offer price $94,900

Occupancy floor 76%

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5112 W Hillcrest Ave Unit 1 Dayton, OH	3.0	1.0	972	$700	$0.72	23d	1	0.10mi
2002 Val Vista Ct Dayton, OH	3.0	1.0	975	$1,095	$1.12	21d	1	0.27mi
2014 Hickorydale Dr Unit 2016 Dayton, OH	2.0	1.0	800	$900	$1.12	44d	1	0.33mi
4446 Waymire Ave Dayton, OH	3.0	1.0	1100	$1,100	$1.00	21d	1	0.52mi
4629 Queens Ave Dayton, OH	2.0	1.0	900	$1,100	$1.22	44d	1	0.52mi
2408 Falmouth Ave Dayton, OH	2.0	1.0	806	$950	$1.18	23d	1	0.73mi
2501 Fairport Ave Dayton, OH	2.0	1.0	605	$850	$1.40	44d	1	0.91mi
2609 Fairport Ave Dayton, OH	3.0	1.0	1000	$1,025	$1.02	3d	1	0.93mi
4132 Natchez Ave Dayton, OH	3.0	1.5	991	$1,250	$1.26	3d	1	0.95mi
3711 Pittsburg Ave Dayton, OH	2.0	1.0	800	$875	$1.09	44d	1	1.03mi
4527 Channing Ln Dayton, OH	3.0	1.0	946	$1,600	$1.69	44d	1	1.16mi
1720 Kings Mill Ct Dayton, OH	2.0	1.5	975	$925	$0.95	23d	1	1.20mi
3858 Haney Rd Dayton, OH	2.0	1.0	850	$825	$0.97	3d	1	1.21mi
1732 Harold Dr Dayton, OH	2.0	1.0	805	$925	$1.15	44d	1	1.22mi
3537 Otterbein Ave Unit d Dayton, OH	2.0	1.0	900	$925	$1.03	44d	1	1.26mi
3650 Otterbein Ave Unit 3650 Dayton, OH	2.0	1.0	900	$800	$0.89	3d	1	1.27mi
3652 Otterbein Ave Unit 3652 Dayton, OH	2.0	1.0	700	$800	$1.14	3d	1	1.27mi
4365 Parkway Dr Trotwood, OH	2.0	1.0	600	$800	$1.33	44d	1	1.30mi
3311 Otterbein Ave Dayton, OH	3.0	1.5	1004	$1,300	$1.29	11d	1	1.39mi
4576 Live Oak Dr Dayton, OH	3.0	1.0	864	$1,400	$1.62	44d	1	1.41mi
3552 Stanford Pl Unit 3552 Dayton, OH	2.0	1.0	800	$800	$1.00	44d	1	1.42mi
3552 Stanford Pl Dayton, OH	2.0	1.0	800	$800	$1.00	23d	1	1.42mi
1595 Elaine St Dayton, OH	3.0	1.0	864	$950	$1.10	3d	1	1.49mi

Listing history 12 events

1. 2026-06-18
   days on market $94,900 Active 32 DOM
2. 2026-06-17
   days on market $94,900 Active 31 DOM
3. 2026-06-16
   days on market $94,900 Active 30 DOM
4. 2026-06-15
   days on market $94,900 Active 29 DOM
5. 2026-06-14
   days on market $94,900 Active 27 DOM
6. 2026-06-13
   pricedays on market $94,900 Active 26 DOM
7. 2026-06-10
   days on market $129,900 Active 24 DOM
8. 2026-06-09
   days on market $129,900 Active 23 DOM
9. 2026-06-09
   pricestatus $129,900 Active 22 DOM
10. 2026-05-02
    status Pending 931-char remark

    Show marketing remark (931 chars)

    Welcome to this charming and solid brick ranch, perfectly situated on a spacious corner lot in an established Dayton neighborhood. Built in 1956, this home offers a classic and efficient floor plan featuring 3 bedrooms and 1 bathroom across nearly 1,000 square feet of comfortable living space. The low-maintenance brick exterior and tidy yard provide excellent curb appeal, while the backyard offers ample room for outdoor recreation or gardening. Located within the Dayton City School District, this property is conveniently positioned just minutes from local shopping, dining, and public transportation, with easy access to downtown Dayton and major highways. Whether you are an investor looking for a turnkey addition to your rental portfolio or a first-time buyer ready to make a house a home, 5023 Hulman Dr offers significant potential and value. Don't miss out on this fantastic opportunity in a quiet, residential setting!

11. 2026-04-10
    listed $104,900 Active 931-char remark

    Show marketing remark (931 chars)

    Welcome to this charming and solid brick ranch, perfectly situated on a spacious corner lot in an established Dayton neighborhood. Built in 1956, this home offers a classic and efficient floor plan featuring 3 bedrooms and 1 bathroom across nearly 1,000 square feet of comfortable living space. The low-maintenance brick exterior and tidy yard provide excellent curb appeal, while the backyard offers ample room for outdoor recreation or gardening. Located within the Dayton City School District, this property is conveniently positioned just minutes from local shopping, dining, and public transportation, with easy access to downtown Dayton and major highways. Whether you are an investor looking for a turnkey addition to your rental portfolio or a first-time buyer ready to make a house a home, 5023 Hulman Dr offers significant potential and value. Don't miss out on this fantastic opportunity in a quiet, residential setting!

12. 2024-01-02
    soldstatus $25,157,500

ⓘ 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: $907 · $76/mo
• Projected year-2 tax: $1,194 · $99/mo
• Expected delta: +$287/yr (+$24/mo · 31.6%)

ⓘ 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 ≥103°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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,333
• − Mortgage interest: −$5,316
• − Property taxes: −$907
• − Insurance: −$474
• − Repairs & maintenance: −$987
• − Management: −$987
• − Depreciation: −$2,761
• Taxable income: $901
• Est. tax owed @ 24.0%: −$216
• After-tax cash flow: $2,173/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

-99.6% since first listed

3 events — show timeline

• 2026-05-02 Pending — Dayton MLS
• 2026-04-10 Listed $104,900 Dayton MLS
• 2024-01-02 Sold (Public Records) $25,157,500 Public Records

Property tax history

+4.0%/yr

Latest (2025): $907 · -0.2% YoY. Source: county tax records.