416 Michigan Ave · Troy, OH 45373

$94,900

3 bd · 1.0 ba · 1,088 sqft · SingleFamily public records · 1 Days on market

Built 1920 6,098 sqft lot Est $187k · 49% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Schools +5.2/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 416 Michigan Avenue -- an incredible opportunity packed with potential just minutes from downtown Troy, local parks, schools, shopping, and restaurants. This unique property features a 4-bedroom, 1.5-bath main home plus a separate 1-bedroom, 1-bath guest house on the same parcel, offering excellent possibilities for investors or those looking to create additional income. The main home offers 1,088 square feet on the main floor, plus an additional mostly finished attic that is not included in the 1,088 square feet offering over 400 additional square feet of living bedroom & living space. The main floor includes an open living room, dining room, and kitchen space, along with three bedrooms and one full plus a half bathroom. The finished attic provides a large fourth bedroom and abundant storage, adding valuable extra space and flexibility. The 720 square foot guest house offers its own private living quarters with living room, kitchen, bedroom, and bathroom -- ideal for a rental, in-law suite, or guest space. Both homes feature charming front porches, adding to the property's character and curb appeal. Situated on a 50x120 lot, the property also includes a 2-car attached garage and an unfinished cellar-style basement in the main home for additional storage. This property is being sold as-is, making it a prime opportunity for investors or buyers ready to bring their vision to life. With its location and dual-living setup, the potential here is hard to beat. Don’t miss your chance to transform this property into something special!

Key facts

• Finished attic
• Dual-living setup
• Separate guest house

Tags

• SEPARATE GUEST HOUSE
• FINISHED ATTIC
• DUAL-LIVING SETUP

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; One and one-half stories; Built in 1920; No shared/common walls
• Exterior features: Block foundation

Interior

• Bedrooms: 3 main-level bedrooms
• Bathrooms: 1 full bathroom; 1 half bathroom (1.5 total)
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Cellar basement

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 $467 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Cap rate 12.2% vs local median 2.6% in Troy — 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 73/100 on livability (#345 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Troy City (suburban): math 61% / reading 61% proficiency, ranked #271 of 656 in OH (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+5.1%/yr); 281 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 326 units permitted in Miami County in 2024 (0 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.
• At projected returns (-3.0% appreciation + 5.1% rent growth), your $27k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $94,900

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.43% ✓
• Cap rate: 12.20%
• Cash-on-cash: 21.08%
• DSCR: 1.94
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $187,136
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
555 Miami St	0.36mi	2/1.0 (-1)	1,064 (-2%)	3mo	$149,900	$141	72
1087 Fairfield Rd	0.53mi	3/1.0	988 (-9%)	2mo	$189,900	$192	59
731 Michigan Ave	0.22mi	2/1.5 (-1)	948 (-13%)	6mo	$154,900	$163	57
709 N Market St	0.25mi	3/1.0	1,251 (+15%)	8mo	$176,000	$141	56
1006 N Nutmeg Sq	0.65mi	3/1.0	999 (-8%)	2mo	$156,100	$156	55
318 S Mulberry St	0.74mi	3/1.0	1,131 (+4%)	11mo	$199,000	$176	49
425 W Franklin St	0.72mi	3/2.0	1,170 (+8%)	2mo	$185,000	$158	49
1006 Mayfield Dr	0.65mi	3/1.0	999 (-8%)	11mo	$181,000	$181	47
1021 Nutmeg Sq	0.71mi	3/1.0	999 (-8%)	10mo	$196,900	$197	45
454 Mayfield Sq	0.73mi	3/1.5	1,001 (-8%)	9mo	$172,000	$172	43
467 Mayfield Ct	0.74mi	3/1.5	1,001 (-8%)	10mo	$196,000	$196	42
995 Terry Dr	0.74mi	3/1.5	1,211 (+11%)	9mo	$199,900	$165	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 · 5.06% rent growth · sell at horizon

5-year hold

• IRR: 15.7%
• Equity multiple: 1.65×
• Total profit: $17,206
• Equity at exit: $14,150

10-year hold

• IRR: 25.8%
• Equity multiple: 3.46×
• Total profit: $65,467
• 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 45373

• Rents YoY: 5.1%
• Active inventory: 281
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,353 high
• Mortgage (P&I): −$498
• Tax from tax record: −$65 /mo · $775/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $467

Break-even live

Break-even rent $762

Max offer price $94,900

Occupancy floor 60%

Sensitivity live

Price	-10% $521	-5% $494	+0% $467	+5% $440	+10% $413
Rent	-10% $360	-5% $413	+0% $467	+5% $520	+10% $574
Rate	-1.0pp $515	-0.5pp $491	base $467	+0.5pp $442	+1.0pp $417

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 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
580 Staunton Commons Dr Troy, OH	2.0–3.0	1.0	957	$1,395	$1.46	3d	2	0.29mi
1187 Salem Ct Troy, OH	3.0	1.0	1417	$1,400	$0.99	44d	1	0.86mi
906 1/2 Race Dr Troy, OH	2.0	1.0	920	$750	$0.82	3d	1	0.92mi
1214 Stephenson Dr Troy, OH	2.0	2.0	1200	$1,400	$1.17	15d	1	0.96mi
455 Stonyridge Ave Troy, OH	2.0	1.0	576	$1,175	$2.04	3d	5	0.97mi
1200 Bunker Hill Dr Apt D Troy, OH	2.0	1.5	900	$1,125	$1.25	20d	1	1.08mi
1115 Stephenson Dr Unit 1255F Troy, OH	2.0	1.5	900	$1,175	$1.31	3d	1	1.17mi
1115 Stephenson Dr Unit 1115C Troy, OH	2.0	1.5	900	$1,149	$1.28	12d	1	1.17mi
1115 Stephenson Dr Unit 1265B Troy, OH	2.0	1.5	900	$1,175	$1.31	20d	1	1.17mi
1211 W Main St Troy, OH	1.0–2.0	1.0–1.5	900	$1,150	$1.28	3d	3	1.33mi

Listing history 7 events

1. 2026-06-02
   listing id $94,900 Pending 1 DOM
2. 2026-04-30
   status Pending 1575-char remark

   Show marketing remark (1572 chars)

   Welcome to 416 Michigan Avenue -- an incredible opportunity packed with potential just minutes from downtown Troy, local parks, schools, shopping, and restaurants. This unique property features a 4-bedroom, 1.5-bath main home plus a separate 1-bedroom, 1-bath guest house on the same parcel, offering excellent possibilities for investors or those looking to create additional income. The main home offers 1,088 square feet on the main floor, plus an additional mostly finished attic that is not included in the 1,088 square feet offering over 400 additional square feet of living bedroom & living space. The main floor includes an open living room, dining room, and kitchen space, along with three bedrooms and one full plus a half bathroom. The finished attic provides a large fourth bedroom and abundant storage, adding valuable extra space and flexibility. The 720 square foot guest house offers its own private living quarters with living room, kitchen, bedroom, and bathroom -- ideal for a rental, in-law suite, or guest space. Both homes feature charming front porches, adding to the property's character and curb appeal. Situated on a 50x120 lot, the property also includes a 2-car attached garage and an unfinished cellar-style basement in the main home for additional storage. This property is being sold as-is, making it a prime opportunity for investors or buyers ready to bring their vision to life. With its location and dual-living setup, the potential here is hard to beat. Don't miss your chance to transform this property into something special!

3. 2026-04-30
   status Pending

   Show marketing remark (1572 chars)

   Welcome to 416 Michigan Avenue -- an incredible opportunity packed with potential just minutes from downtown Troy, local parks, schools, shopping, and restaurants. This unique property features a 4-bedroom, 1.5-bath main home plus a separate 1-bedroom, 1-bath guest house on the same parcel, offering excellent possibilities for investors or those looking to create additional income. The main home offers 1,088 square feet on the main floor, plus an additional mostly finished attic that is not included in the 1,088 square feet offering over 400 additional square feet of living bedroom & living space. The main floor includes an open living room, dining room, and kitchen space, along with three bedrooms and one full plus a half bathroom. The finished attic provides a large fourth bedroom and abundant storage, adding valuable extra space and flexibility. The 720 square foot guest house offers its own private living quarters with living room, kitchen, bedroom, and bathroom -- ideal for a rental, in-law suite, or guest space. Both homes feature charming front porches, adding to the property's character and curb appeal. Situated on a 50x120 lot, the property also includes a 2-car attached garage and an unfinished cellar-style basement in the main home for additional storage. This property is being sold as-is, making it a prime opportunity for investors or buyers ready to bring their vision to life. With its location and dual-living setup, the potential here is hard to beat. Don't miss your chance to transform this property into something special!

4. 2026-04-30
   status Pending 1572-char remark

   Show marketing remark (1572 chars)

   Welcome to 416 Michigan Avenue -- an incredible opportunity packed with potential just minutes from downtown Troy, local parks, schools, shopping, and restaurants. This unique property features a 4-bedroom, 1.5-bath main home plus a separate 1-bedroom, 1-bath guest house on the same parcel, offering excellent possibilities for investors or those looking to create additional income. The main home offers 1,088 square feet on the main floor, plus an additional mostly finished attic that is not included in the 1,088 square feet offering over 400 additional square feet of living bedroom & living space. The main floor includes an open living room, dining room, and kitchen space, along with three bedrooms and one full plus a half bathroom. The finished attic provides a large fourth bedroom and abundant storage, adding valuable extra space and flexibility. The 720 square foot guest house offers its own private living quarters with living room, kitchen, bedroom, and bathroom -- ideal for a rental, in-law suite, or guest space. Both homes feature charming front porches, adding to the property's character and curb appeal. Situated on a 50x120 lot, the property also includes a 2-car attached garage and an unfinished cellar-style basement in the main home for additional storage. This property is being sold as-is, making it a prime opportunity for investors or buyers ready to bring their vision to life. With its location and dual-living setup, the potential here is hard to beat. Don't miss your chance to transform this property into something special!

5. 2026-04-29
   listed $94,900 Active
6. 2026-04-28
   listed $94,900 Active 1575-char remark

   Show marketing remark (1572 chars)

   Welcome to 416 Michigan Avenue -- an incredible opportunity packed with potential just minutes from downtown Troy, local parks, schools, shopping, and restaurants. This unique property features a 4-bedroom, 1.5-bath main home plus a separate 1-bedroom, 1-bath guest house on the same parcel, offering excellent possibilities for investors or those looking to create additional income. The main home offers 1,088 square feet on the main floor, plus an additional mostly finished attic that is not included in the 1,088 square feet offering over 400 additional square feet of living bedroom & living space. The main floor includes an open living room, dining room, and kitchen space, along with three bedrooms and one full plus a half bathroom. The finished attic provides a large fourth bedroom and abundant storage, adding valuable extra space and flexibility. The 720 square foot guest house offers its own private living quarters with living room, kitchen, bedroom, and bathroom -- ideal for a rental, in-law suite, or guest space. Both homes feature charming front porches, adding to the property's character and curb appeal. Situated on a 50x120 lot, the property also includes a 2-car attached garage and an unfinished cellar-style basement in the main home for additional storage. This property is being sold as-is, making it a prime opportunity for investors or buyers ready to bring their vision to life. With its location and dual-living setup, the potential here is hard to beat. Don't miss your chance to transform this property into something special!

7. 2026-04-28
   listed $94,900 Active 1572-char remark

   Show marketing remark (1572 chars)

   Welcome to 416 Michigan Avenue -- an incredible opportunity packed with potential just minutes from downtown Troy, local parks, schools, shopping, and restaurants. This unique property features a 4-bedroom, 1.5-bath main home plus a separate 1-bedroom, 1-bath guest house on the same parcel, offering excellent possibilities for investors or those looking to create additional income. The main home offers 1,088 square feet on the main floor, plus an additional mostly finished attic that is not included in the 1,088 square feet offering over 400 additional square feet of living bedroom & living space. The main floor includes an open living room, dining room, and kitchen space, along with three bedrooms and one full plus a half bathroom. The finished attic provides a large fourth bedroom and abundant storage, adding valuable extra space and flexibility. The 720 square foot guest house offers its own private living quarters with living room, kitchen, bedroom, and bathroom -- ideal for a rental, in-law suite, or guest space. Both homes feature charming front porches, adding to the property's character and curb appeal. Situated on a 50x120 lot, the property also includes a 2-car attached garage and an unfinished cellar-style basement in the main home for additional storage. This property is being sold as-is, making it a prime opportunity for investors or buyers ready to bring their vision to life. With its location and dual-living setup, the potential here is hard to beat. Don't miss your chance to transform this property into something special!

ⓘ 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: $775 · $65/mo
• Projected year-2 tax: $1,128 · $94/mo
• Expected delta: +$353/yr (+$29/mo · 45.5%)

ⓘ 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 ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,233
• − Mortgage interest: −$5,316
• − Property taxes: −$775
• − Insurance: −$474
• − Repairs & maintenance: −$1,299
• − Management: −$1,299
• − Depreciation: −$2,761
• Taxable income: $4,310
• Est. tax owed @ 24.0%: −$1,034
• After-tax cash flow: $4,568/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: Troy City
• NCES district ID: 3904492
• Math proficiency: 61% ▼ -10.00%
• Reading proficiency: 61% ▼ -7.00%
• Median HH income: $52,012
• Composite: 52.1/100
• National rank: #1625
• State rank: #271 of 656 in OH

Livability — Troy

• Score: 73/100
• State rank: #345
• US rank: #5621

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Troy, OH
• County: Miami County · 85,667 people
• City population: 37,565
• Metro: Dayton-Kettering, OH
• Population (ZIP): 37,565
• Household income: $75,742
• Rent vs Own: 28.7% rent · 71.3% own
• Severe rent burden: 1134.0

Population outlook (Miami County) Hauer SSP2

• Today (2025): 107,816 people
• By 2030: 108,896 · +1.0%
• By 2040: 109,581 · +1.6%
• By 2050: 108,110 · +0.3%
• By 2075: 101,523 · -5.8%
• By 2100: 85,787 · -20.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 4% Asian 3% Black 3%
• Common ancestry: Lithuanian 4% Slovak 2% Iranian 2%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Other Asian/Pacific 2% Spanish 1% Other Indo-European 1%

Political lean MEDSL · Miami

• 2024 margin: Solid R (+45.1) · D 27.0% · R 72.1%
• 2008→2024 swing: -16.6pp toward R · 2008: -28.5pp · 2024: -45.1pp
• All cycles: 2024: R+45.1 2020: R+44.3 2016: R+45.6 2012: R+35.6 2008: R+28.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -158.93%
• Current HPI: 211.5279
• Rent YoY: ▲ 5.06%
• 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

+0.0% since first listed

6 events — show timeline

• 2026-04-30 Pending — Dayton MLS
• 2026-04-30 Pending — CBRMLS
• 2026-04-30 Pending — WRIST
• 2026-04-29 Listed $94,900 CBRMLS
• 2026-04-28 Listed $94,900 WRIST
• 2026-04-28 Listed $94,900 Dayton MLS

Property tax history

+0.1%/yr

Latest (2025): $775 · +1.5% YoY. Source: county tax records.