426 Troy St · Dayton, OH 45404

$84,900

4 bd · 1.0 ba · 4,786 sqft · MultiFamily · 297 Days on market

Built 1885 Poor condition 4,853 sqft lot $18/sqft · 74% below area ↓ 29% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +1.3/10.0
• Condition / age +1.0/5.0
• 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

* Special Program Available * - No Down Payment $, No PMI, PLUS $5,000 towards closing costs for qualified buyers. Inquire for info! Investor alert! This gutted property is prepped and ready for your vision. With a brand-new roof (2024) already in place, the heavy lifting has begun—now it's time to bring it to life. The upstairs layout offers 4 beds and 1 full bath, with plenty of space downstairs to mirror the floorplan and create a duplex. Ideal for a flip or a buy-and-hold rental strategy. Being sold as-is – this one needs work, but the potential ROI makes it a no-brainer. Cash or hard money only. Don’t sleep on this opportunity—schedule your walkthrough today!

Key facts

• Upstairs layout
• Brand-new roof
• Duplex potential

Tags

• BRAND-NEW ROOF
• UPSTAIRS LAYOUT
• DUPLEX POTENTIAL

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/0.5-bath units multifamily listed at $85k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $859/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 30.6% 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: 66 active listings in the ZIP; lower-income renter base — watch delinquency; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $2,917/mo this rent would consume 90% of the median local household income ($39k/yr) (locally 702% 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 $587 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 + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 297 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $20k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 297 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 1885 — 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: 3.44% ✓
• Cap rate: 30.57%
• Cash-on-cash: 86.71%
• DSCR: 4.86
• GRM: 2.4

CMA / ARV

• ARV (median comp): $325,851
• List price: $84,900
• Delta: -73.95%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 87.2%
• Equity multiple: 5.03×
• Total profit: $95,688
• Equity at exit: $12,659

10-year hold

• IRR: 90.3%
• Equity multiple: 10.44×
• Total profit: $224,374
• Equity at exit: $7,341

Cash invested: $23,772 (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 45404

• Home prices YoY: -24.2%
• Active inventory: 66
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,917 medium
• Mortgage (P&I): −$445
• Tax est. 1.5%: −$106 /mo · $1,274/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$613
• Net cashflow: $1,718

Break-even live

Break-even rent $743

Max offer price $84,900

Occupancy floor 36%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	0.5	$2,918
Total (2 units)			$2,917

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $84,900 Active 297 DOM
2. 2026-06-17
   days on market $84,900 Active 296 DOM
3. 2026-06-16
   days on market $84,900 Active 295 DOM
4. 2026-06-15
   days on market $84,900 Active 294 DOM
5. 2026-06-14
   days on market $84,900 Active 292 DOM
6. 2026-06-13
   days on market $84,900 Active 291 DOM
7. 2026-06-10
   days on market $84,900 Active 289 DOM
8. 2026-06-09
   days on market $84,900 Active 288 DOM
9. 2026-06-08
   days on market $84,900 Active 287 DOM
10. 2026-06-07
    days on market $84,900 Active 286 DOM
11. 2026-06-05
    days on market $84,900 Active 283 DOM
12. 2026-06-03
    days on market $84,900 Active 282 DOM
13. 2026-06-02
    days on market $84,900 Active 281 DOM
14. 2026-06-01
    days on market $84,900 Active 280 DOM
15. 2026-05-31
    days on market $84,900 Active 279 DOM
16. 2025-12-01
    price $84,900 699-char remark

    Show marketing remark (699 chars)

    * Special Program Available * - No Down Payment $, No PMI, PLUS $5,000 towards closing costs for qualified buyers. Inquire for info! Investor alert! This gutted property is prepped and ready for your vision. With a brand-new roof (2024) already in place, the heavy lifting has begun—now it's time to bring it to life. The upstairs layout offers 4 beds and 1 full bath, with plenty of space downstairs to mirror the floorplan and create a duplex. Ideal for a flip or a buy-and-hold rental strategy. Being sold as-is – this one needs work, but the potential ROI makes it a no-brainer. Cash or hard money only. Don’t sleep on this opportunity—schedule your walkthrough today!

17. 2025-09-16
    price $99,999 699-char remark

    Show marketing remark (699 chars)

    * Special Program Available * - No Down Payment $, No PMI, PLUS $5,000 towards closing costs for qualified buyers. Inquire for info! Investor alert! This gutted property is prepped and ready for your vision. With a brand-new roof (2024) already in place, the heavy lifting has begun—now it's time to bring it to life. The upstairs layout offers 4 beds and 1 full bath, with plenty of space downstairs to mirror the floorplan and create a duplex. Ideal for a flip or a buy-and-hold rental strategy. Being sold as-is – this one needs work, but the potential ROI makes it a no-brainer. Cash or hard money only. Don’t sleep on this opportunity—schedule your walkthrough today!

18. 2025-08-28
    price $104,999 699-char remark

    Show marketing remark (699 chars)

    * Special Program Available * - No Down Payment $, No PMI, PLUS $5,000 towards closing costs for qualified buyers. Inquire for info! Investor alert! This gutted property is prepped and ready for your vision. With a brand-new roof (2024) already in place, the heavy lifting has begun—now it's time to bring it to life. The upstairs layout offers 4 beds and 1 full bath, with plenty of space downstairs to mirror the floorplan and create a duplex. Ideal for a flip or a buy-and-hold rental strategy. Being sold as-is – this one needs work, but the potential ROI makes it a no-brainer. Cash or hard money only. Don’t sleep on this opportunity—schedule your walkthrough today!

19. 2025-08-25
    listed $105,000 Active 699-char remark

    Show marketing remark (699 chars)

    * Special Program Available * - No Down Payment $, No PMI, PLUS $5,000 towards closing costs for qualified buyers. Inquire for info! Investor alert! This gutted property is prepped and ready for your vision. With a brand-new roof (2024) already in place, the heavy lifting has begun—now it's time to bring it to life. The upstairs layout offers 4 beds and 1 full bath, with plenty of space downstairs to mirror the floorplan and create a duplex. Ideal for a flip or a buy-and-hold rental strategy. Being sold as-is – this one needs work, but the potential ROI makes it a no-brainer. Cash or hard money only. Don’t sleep on this opportunity—schedule your walkthrough today!

20. 2025-07-04
    historical
21. 2024-10-28
    status Active
22. 2024-09-26
    status Pending
23. 2024-08-30
    status Active
24. 2024-08-20
    historical
25. 2024-02-21
    listed $120,000 Active

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

Taxation est. · year 1

• Rental income: $35,004
• − Mortgage interest: −$4,756
• − Property taxes: −$1,274
• − Insurance: −$424
• − Repairs & maintenance: −$2,800
• − Management: −$2,800
• − Depreciation: −$2,470
• Taxable income: $20,480
• Est. tax owed @ 24.0%: −$4,915
• After-tax cash flow: $15,697/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 · 8 photos

Poor 20/100 Gut rehab

This gutted property requires extensive renovations to bring it up to code and make it move-in ready. The new roof is a positive, but the interior and exterior need significant work.

Repairs flagged

• Major Exposed beams — Structural damage
• Major Missing cabinets — No kitchen functionality
• Major Missing flooring — No living space functionality
• Major Missing siding — Exterior damage

Value-add opportunities

• Both New kitchen cabinets and flooring — Enhances functionality and aesthetics
• Both New exterior siding — Improves curb appeal and durability
• Both New interior walls and paint — Enhances living space and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed beams · Structural damage	Major	$15,000–50,000
Missing cabinets · No kitchen functionality	Major	$15,000–50,000
Missing flooring · No living space functionality	Major	$15,000–50,000
Missing siding · Exterior damage	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both New kitchen cabinets and flooring — Enhances functionality and aesthetics ↑
• Both New exterior siding — Improves curb appeal and durability ↑
• Both New interior walls and paint — Enhances living space and aesthetics ↑

ⓘ 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): 9,826
• Household income: $38,874
• Rent vs Own: 55.9% rent · 44.1% own
• Severe rent burden: 702.0

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 (70%)
• Race & ethnicity: White 70% Black 19% Two or more races 7% Hispanic / Latino 4% Asian 1%
• Common ancestry: Iranian 3% Slovak 2% Serbian 1%
• Foreign-born: 9% · Canada
• Languages at home: 88% English-only · Spanish 4% Arabic 4% Other Asian/Pacific 3%

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: ▼ -67.48%
• Current HPI: 210.9571
• Rent YoY: —
• 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

-29.2% since first listed

10 events — show timeline

• 2025-12-01 Price Changed $84,900 Dayton MLS
• 2025-09-16 Price Changed $99,999 Dayton MLS
• 2025-08-28 Price Changed $104,999 Dayton MLS
• 2025-08-25 Listed $105,000 Dayton MLS
• 2025-07-04 Listing Removed — Dayton MLS
• 2024-10-28 Relisted — Dayton MLS
• 2024-09-26 Pending — Dayton MLS
• 2024-08-30 Relisted — Dayton MLS
• 2024-08-20 Listing Removed — Dayton MLS
• 2024-02-21 Listed $120,000 Dayton MLS