804 E Center St · Germantown, OH 45327

$119,500

3 bd · 1.0 ba · 1,632 sqft · SingleFamily public records · 15 Days on market

Built 1910 $73/sqft · 58% below area

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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 +17.3/30.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• DSCR +5.4/10.0
• Schools +5.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Solid home with a functional layout, multiple bedrooms, and plenty of natural light. Features a spacious yard, off-street parking, and a detached garage. With good bones and room for updates, this is a perfect opportunity for investors or a great starter home. Conveniently located near local amenities in a quiet neighborhood with strong upside potential. Don & acirc; & euro; & trade; t miss it!

Key facts

• Spacious yard
• Local amenities
• Quiet neighborhood

Tags

• SPACIOUS YARD
• OFF-STREET PARKING
• DETACHED GARAGE
• QUIET NEIGHBORHOOD
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $88 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 2.9% in Germantown — 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 81/100 on livability (#94 in OH, #1,458 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Valley View Local (suburban): math 54% / reading 69% proficiency, ranked #250 of 656 in OH (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 29 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 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 $826 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 15 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,707 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.19% ✓
• Cap rate: 7.18%
• Cash-on-cash: 3.17%
• DSCR: 1.14
• GRM: 7.0

CMA / ARV

• ARV (median comp): $286,560
• List price: $119,500
• Delta: -58.30%
• 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
57 Pollyanna Ave	0.16mi	3/1.5	1,566 (-4%)	7mo	$188,350	$120	78
271 E Center St	0.35mi	3/1.5	1,664 (+2%)	11mo	$259,900	$156	70
728 E Market St	0.08mi	3/2.0	1,441 (-12%)	6mo	$270,000	$187	68
114 N Water St	0.33mi	3/2.5	1,460 (-10%)	3mo	$225,000	$154	59
154 W Warren St	0.73mi	3/1.5	1,584 (-3%)	2mo	$90,000	$57	57
74 Stewart Ln	0.53mi	3/1.0	1,428 (-12%)	0mo	$185,000	$130	54
740 Maxwell Ct	0.34mi	4/2.5 (+1)	1,795 (+10%)	4mo	$337,400	$188	53
150 N Main St	0.58mi	3/2.0	1,428 (-12%)	4mo	$257,500	$180	45
19 E Market St	0.56mi	3/2.0	1,824 (+12%)	7mo	$265,000	$145	44
440 N Cherry St	0.57mi	3/1.5	1,392 (-15%)	4mo	$219,999	$158	43
106 Mark Ct	0.62mi	3/1.0	1,428 (-12%)	10mo	$212,000	$148	42
53 Hawkins Ct	0.61mi	3/3.0	1,395 (-14%)	5mo	$325,000	$233	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.59×
• Total profit: $-13,577
• Equity at exit: $17,818

10-year hold

• IRR: -1.7%
• Equity multiple: 0.88×
• Total profit: $-3,950
• Equity at exit: $10,332

Cash invested: $33,460 (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 45327

• Active inventory: 29
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,425 medium
• Mortgage (P&I): −$627
• Tax from tax record: −$361 /mo · $4,330/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $88

Break-even live

Break-even rent $1,313

Max offer price $119,500

Occupancy floor 89%

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: $29,875
• Closing costs: $3,585
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
136 Rogers Dr Germantown, OH	3.0	1.0	1118	$1,425	$1.27	2d	1	0.48mi

Listing history 1 events

1. 2026-05-12
   listed $119,500 Active 390-char remark

ⓘ 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: $4,330 · $361/mo
• Projected year-2 tax: $4,330 · $361/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 ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,100
• − Mortgage interest: −$6,694
• − Property taxes: −$4,330
• − Insurance: −$598
• − Repairs & maintenance: −$1,368
• − Management: −$1,368
• − Depreciation: −$3,476
• Taxable loss: −$733
• Est. tax savings @ 24.0%: +$176
• After-tax cash flow: $1,238/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: Valley View Local
• NCES district ID: 3904874
• Math proficiency: 54% ▼ -17.00%
• Reading proficiency: 69% ▼ -7.00%
• Median HH income: $60,457
• Composite: 53.26/100
• National rank: #1495
• State rank: #250 of 656 in OH

Livability — Germantown

• Score: 81/100
• State rank: #94
• US rank: #1458

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment B+ Housing A+ Health & safety B+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Germantown, OH
• County: Montgomery · 506,435 people
• Metro: Dayton-Kettering-Beavercreek, OH
• Population (ZIP): 8,949
• Household income: $84,538
• Rent vs Own: 16.9% rent · 83.1% own

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 White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 4% Italian 3% Slovak 2%
• Foreign-born: 0%

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: ▼ -116.46%
• Current HPI: 198.3053
• Rent YoY: —
• Metro: —
• 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

Property tax history

+2.7%/yr

Latest (2025): $4,330 · +7.9% YoY. Source: county tax records.