1620 Gondert Ave #1618 · Dayton, OH 45403

$160,000

4 bd · 2.0 ba · 2,384 sqft · MultiFamily · 319 Days on market

Built 1910 Fair condition 8,499 sqft lot $67/sqft · 8% below area Est $173k · 8% under ↓ 3% since listing

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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 +29.4/30.0
• ARV discount +10.9/15.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Rent growth +3.4/5.0
• Livability +3.2/5.0
• Condition / age +2.2/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great investment opportunity! Spacious Duplex located near the heart of Dayton with all the amenities close by. An ideal set up for owner occupant seeking rental income. All appliances stay! Being sold as-is.

Key facts

• Spacious duplex
• All appliances stay
• 8,499 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• SPACIOUS DUPLEX
• ALL APPLIANCES STAY

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $160k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $566 ($7k/yr) — positive. Per door: $283/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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 (+3.7%/yr); 77 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $2,116/mo this rent would consume 66% of the median local household income ($38k/yr) (locally 1071% 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 $1k of loan paydown is wiped out by about $5k 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 + 3.7% rent growth), your $45k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 319 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 4 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 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 319 days. Have you received any prior offers? Is the seller open to a 12% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.32% ✓
• Cap rate: 10.54%
• Cash-on-cash: 15.16%
• DSCR: 1.67
• GRM: 6.3

CMA / ARV

• ARV (median comp): $173,070
• List price: $160,000
• Delta: -7.55%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
416 Pleasant Ave	0.51mi	4/2.0	2,184 (-8%)	3mo	$125,000	$57	60
203 Pleasant Ave #201	0.67mi	4/2.0	2,504 (+5%)	12mo	$160,000	$64	50

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 · 3.71% rent growth · sell at horizon

5-year hold

• IRR: 6.6%
• Equity multiple: 1.26×
• Total profit: $11,671
• Equity at exit: $23,857

10-year hold

• IRR: 16.6%
• Equity multiple: 2.41×
• Total profit: $63,042
• Equity at exit: $13,834

Cash invested: $44,800 (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 45403

• Home prices YoY: -3.7%
• Rents YoY: 3.7%
• Active inventory: 77
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $2,116 high
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,400/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$444
• Net cashflow: $566

Break-even live

Break-even rent $1,400

Max offer price $160,000

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,116
Total (2 units)			$2,116

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
115 Livingston Ave Dayton, OH	3.0	1.0	1624	$1,450	$0.89	44d	1	0.60mi
836 Wellmeier Ave Dayton, OH	4.0	1.0	2148	$1,500	$0.70	3d	1	0.79mi
511 Parrot St Dayton, OH	3.0	1.5	1618	$1,100	$0.68	14d	1	1.24mi

Listing history 24 events

1. 2026-06-18
   days on market $160,000 Active 319 DOM
2. 2026-06-17
   days on market $160,000 Active 318 DOM
3. 2026-06-16
   days on market $160,000 Active 317 DOM
4. 2026-06-15
   days on market $160,000 Active 316 DOM
5. 2026-06-14
   days on market $160,000 Active 314 DOM
6. 2026-06-13
   days on market $160,000 Active 313 DOM
7. 2026-06-10
   days on market $160,000 Active 311 DOM
8. 2026-06-09
   days on market $160,000 Active 310 DOM
9. 2026-06-08
   days on market $160,000 Active 309 DOM
10. 2026-06-07
    days on market $160,000 Active 308 DOM
11. 2026-06-05
    days on market $160,000 Active 305 DOM
12. 2026-06-03
    days on market $160,000 Active 304 DOM
13. 2026-06-02
    days on market $160,000 Active 303 DOM
14. 2026-06-01
    days on market $160,000 Active 302 DOM
15. 2026-05-31
    days on market $160,000 Active 301 DOM
16. 2026-04-07
    historical ActiveUnderContract 208-char remark

    Show marketing remark (208 chars)

    Great investment opportunity! Spacious Duplex located near the heart of Dayton with all the amenities close by. An ideal set up for owner occupant seeking rental income. All appliances stay! Being sold as-is.

17. 2026-03-30
    status Active 208-char remark

    Show marketing remark (208 chars)

    Great investment opportunity! Spacious Duplex located near the heart of Dayton with all the amenities close by. An ideal set up for owner occupant seeking rental income. All appliances stay! Being sold as-is.

18. 2026-03-30
    status Active 208-char remark

    Show marketing remark (208 chars)

    Great investment opportunity! Spacious Duplex located near the heart of Dayton with all the amenities close by. An ideal set up for owner occupant seeking rental income. All appliances stay! Being sold as-is.

19. 2025-10-07
    historical Contingency Pending 208-char remark

    Show marketing remark (208 chars)

    Great investment opportunity! Spacious Duplex located near the heart of Dayton with all the amenities close by. An ideal set up for owner occupant seeking rental income. All appliances stay! Being sold as-is.

20. 2025-10-07
    historical ActiveUnderContract 208-char remark

    Show marketing remark (208 chars)

    Great investment opportunity! Spacious Duplex located near the heart of Dayton with all the amenities close by. An ideal set up for owner occupant seeking rental income. All appliances stay! Being sold as-is.

21. 2025-09-18
    price $160,000 208-char remark

    Show marketing remark (208 chars)

    Great investment opportunity! Spacious Duplex located near the heart of Dayton with all the amenities close by. An ideal set up for owner occupant seeking rental income. All appliances stay! Being sold as-is.

22. 2025-09-18
    price $160,000 208-char remark

    Show marketing remark (208 chars)

    Great investment opportunity! Spacious Duplex located near the heart of Dayton with all the amenities close by. An ideal set up for owner occupant seeking rental income. All appliances stay! Being sold as-is.

23. 2025-08-03
    listed $165,000 Active 208-char remark

    Show marketing remark (208 chars)

    Great investment opportunity! Spacious Duplex located near the heart of Dayton with all the amenities close by. An ideal set up for owner occupant seeking rental income. All appliances stay! Being sold as-is.

24. 2025-08-03
    listed $165,000 Active 208-char remark

    Show marketing remark (208 chars)

    Great investment opportunity! Spacious Duplex located near the heart of Dayton with all the amenities close by. An ideal set up for owner occupant seeking rental income. All appliances stay! Being sold as-is.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,392
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$800
• − Repairs & maintenance: −$2,031
• − Management: −$2,031
• − Depreciation: −$4,655
• Taxable income: $4,512
• Est. tax owed @ 24.0%: −$1,083
• After-tax cash flow: $5,708/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This two-unit property requires significant updates to its exterior, interior, and systems to improve its condition and value. Potential buyers should consider the extensive renovation needed to make it move-in ready.

Repairs flagged

• Major exterior siding — Severe weathering
• Major kitchen cabinets — Old and outdated
• Major bathroom fixtures — Small and outdated
• Major flooring — Worn and outdated
• Major interior walls/paint — Worn and outdated
• Major windows — Old and possibly single-pane
• Major HVAC units — Older and possibly inefficient

Value-add opportunities

• Both New exterior siding — Improves curb appeal and value
• Both New kitchen cabinets — Modernizes the space and increases value
• Both New bathroom fixtures — Enhances functionality and appeal
• Both New flooring — Updates the space and improves comfort
• Both New interior paint — Freshens the space and improves curb appeal
• Both New windows — Improves energy efficiency and enhances view
• Both New HVAC units — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Severe weathering	Major	$15,000–50,000
kitchen cabinets · Old and outdated	Major	$15,000–50,000
bathroom fixtures · Small and outdated	Major	$15,000–50,000
flooring · Worn and outdated	Major	$15,000–50,000
interior walls/paint · Worn and outdated	Major	$15,000–50,000
windows · Old and possibly single-pane	Major	$15,000–50,000
HVAC units · Older and possibly inefficient	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both New exterior siding — Improves curb appeal and value ↑
• Both New kitchen cabinets — Modernizes the space and increases value ↑
• Both New bathroom fixtures — Enhances functionality and appeal ↑
• Both New flooring — Updates the space and improves comfort ↑
• Both New interior paint — Freshens the space and improves curb appeal ↑
• Both New windows — Improves energy efficiency and enhances view ↑
• Both New HVAC units — Improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 13,608
• Household income: $38,323
• Rent vs Own: 60.0% rent · 40.0% own
• Severe rent burden: 1071.0

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 White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 15% Black 14% Two or more races 8% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 13% Other Asian/Pacific 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: ▼ -17.40%
• Current HPI: 447.4034
• Rent YoY: ▲ 3.71%
• 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

-3.0% since first listed

9 events — show timeline

• 2026-04-07 Contingent — Dayton MLS
• 2026-03-30 Relisted — Cincy MLS
• 2026-03-30 Relisted — Dayton MLS
• 2025-10-07 Contingent — Cincy MLS
• 2025-10-07 Contingent — Dayton MLS
• 2025-09-18 Price Changed $160,000 Cincy MLS
• 2025-09-18 Price Changed $160,000 Dayton MLS
• 2025-08-03 Listed $165,000 Cincy MLS
• 2025-08-03 Listed $165,000 Dayton MLS