2015 N Main St · Dayton, OH 45405

$44,900

3 bd · 2.0 ba · 2,016 sqft · Other public records · 163 Days on market

Built 1914 6,242 sqft lot $22/sqft · 56% below area ↓ 41% 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
• Rent growth +3.6/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits with this traditional 2.5 story home located minutes from downtown Dayton. Full of classic charm, this property offers a fantastic canvas for renovation and customization. Enjoy relaxing mornings on the covered front porch, a timeless feature that adds curb appeal and neighborhood charm. Inside, the spacious layout provides flexibility across multiple levels, ideal for creating distinct living, working, or entertaining spaces. The kitchen has been fully gutted, giving the next owner a blank slate to design a modern, functional space tailored to their vision. With solid bones and generous square footage, this home is well-suited to restore a historic property to its full potential. Conveniently located near downtown, dining, shopping, and major routes, this is a rare chance to bring new life to a classic home in a prime location.

Key facts

• Covered front porch
• Fully gutted kitchen
• Prime location

Tags

• COVERED FRONT PORCH
• SPACIOUS LAYOUT
• FULLY GUTTED KITCHEN
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $45k.

Deal economics

• At list price, monthly cash flow is $528 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.4% 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 fast (+4.3%/yr); 134 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• This rent runs 33% of the median local income ($44k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $310 of loan paydown is wiped out by about $1k 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 + 4.3% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 163 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $14k; list at $45k implies a 223% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.6% of price; built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $39,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 163 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.69% ✓
• Cap rate: 20.39%
• Cash-on-cash: 50.35%
• DSCR: 3.24
• GRM: 3.1

CMA / ARV

• ARV (median comp): $101,060
• List price: $44,900
• Delta: -55.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.34% rent growth · sell at horizon

5-year hold

• IRR: 49.9%
• Equity multiple: 3.23×
• Total profit: $28,065
• Equity at exit: $6,695

10-year hold

• IRR: 56.0%
• Equity multiple: 6.97×
• Total profit: $75,037
• Equity at exit: $3,882

Cash invested: $12,572 (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 45405

• Rents YoY: 4.3%
• Active inventory: 134
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,210 high
• Mortgage (P&I): −$235
• Tax from tax record: −$174 /mo · $2,086/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $528

Break-even live

Break-even rent $542

Max offer price $44,900

Occupancy floor 51%

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
41 W Fairview Ave Unit 2 Dayton, OH	3.0	1.0	1452	$1,200	$0.83	14d	1	0.26mi
101 W Norman Ave Unit 101 Dayton, OH	3.0	1.0	1600	$945	$0.59	44d	1	0.27mi
1501 Viola Ave Dayton, OH	3.0	1.0	1952	$1,175	$0.60	14d	1	0.38mi
201 W Norman Ave Dayton, OH	3.0	1.0	1424	$1,200	$0.84	44d	1	0.43mi
338 Kenwood Ave Dayton, OH	3.0	1.5	1512	$1,195	$0.79	44d	1	0.47mi
518 Delaware Ave Dayton, OH	2.0	1.0	1500	$750	$0.50	44d	1	0.49mi
26 W Beechwood Ave Dayton, OH	3.0	1.5	1468	$1,050	$0.72	44d	1	0.63mi
439 W Fairview Ave Dayton, OH	3.0	1.0	1500	$1,200	$0.80	44d	1	0.64mi
253 E Hillcrest Ave Dayton, OH	3.0	2.5	2569	$1,800	$0.70	3d	1	0.66mi
942 Harvard Blvd Dayton, OH	3.0	2.0	1596	$1,200	$0.75	3d	1	0.69mi
132 Wroe Ave Unit 132 Dayton, OH	3.0	2.5	1934	$1,297	$0.67	44d	1	0.70mi
138 Rockwood Ave Dayton, OH	3.0	1.5	1439	$1,200	$0.83	23d	1	0.71mi
136 Rockwood Ave Dayton, OH	3.0	1.5	1439	$1,200	$0.83	44d	1	0.71mi
1225 Amherst Pl Dayton, OH	3.0	1.0	1548	$1,300	$0.84	14d	1	0.72mi
39 E Maplewood Ave Dayton, OH	4.0	1.5	1560	$1,050	$0.67	3d	1	0.74mi
534 Geyer St Dayton, OH	4.0	1.0	1640	$1,530	$0.93	23d	1	0.78mi
1743 Radcliffe Rd Dayton, OH	3.0	1.5	1729	$1,200	$0.69	44d	1	0.84mi
52 Fernwood Ave Dayton, OH	2.0	1.0	1926	$925	$0.48	44d	1	0.84mi
101 E Bruce Ave Dayton, OH	3.0	1.0	1455	$1,150	$0.79	3d	1	0.97mi
1011 N Broadway St Dayton, OH	3.0	1.5	1700	$950	$0.56	44d	1	1.07mi
424 Lexington Ave Dayton, OH	3.0	2.0	1536	$1,025	$0.67	44d	1	1.16mi
1927 Burroughs Dr Dayton, OH	3.0	2.0	1409	$1,245	$0.88	14d	1	1.22mi
1119 Superior Ave Unit 1119 Dayton, OH	3.0	1.0	1435	$1,350	$0.94	3d	1	1.29mi
848 Riverview Ter Apt 607 Dayton, OH	2.0	1.0	1400	$1,300	$0.93	23d	1	1.42mi
2141 Philadelphia Dr Dayton, OH	3.0	1.0	1736	$1,395	$0.80	44d	1	1.43mi
115 W Monument Ave Dayton, OH	1.0–2.0	1.0–2.5	1053	$2,199	$2.09	3d	20	1.46mi

Listing history 20 events

1. 2026-06-18
   days on market $44,900 Active 163 DOM
2. 2026-06-17
   price $44,900 Active 162 DOM
3. 2026-06-17
   days on market $49,900 Active 162 DOM
4. 2026-06-16
   days on market $49,900 Active 161 DOM
5. 2026-06-15
   days on market $49,900 Active 160 DOM
6. 2026-06-14
   days on market $49,900 Active 158 DOM
7. 2026-06-13
   days on market $49,900 Active 157 DOM
8. 2026-06-10
   days on market $49,900 Active 155 DOM
9. 2026-06-09
   days on market $49,900 Active 154 DOM
10. 2026-06-08
    days on market $49,900 Active 153 DOM
11. 2026-06-07
    days on market $49,900 Active 152 DOM
12. 2026-06-05
    days on market $49,900 Active 149 DOM
13. 2026-06-03
    days on market $49,900 Active 148 DOM
14. 2026-06-02
    days on market $49,900 Active 147 DOM
15. 2026-06-01
    days on market $49,900 Active 146 DOM
16. 2026-05-31
    days on market $49,900 Active 145 DOM
17. 2026-05-10
    price $49,900 859-char remark

    Show marketing remark (859 chars)

    Opportunity awaits with this traditional 2.5 story home located minutes from downtown Dayton. Full of classic charm, this property offers a fantastic canvas for renovation and customization. Enjoy relaxing mornings on the covered front porch, a timeless feature that adds curb appeal and neighborhood charm. Inside, the spacious layout provides flexibility across multiple levels, ideal for creating distinct living, working, or entertaining spaces. The kitchen has been fully gutted, giving the next owner a blank slate to design a modern, functional space tailored to their vision. With solid bones and generous square footage, this home is well-suited to restore a historic property to its full potential. Conveniently located near downtown, dining, shopping, and major routes, this is a rare chance to bring new life to a classic home in a prime location.

18. 2026-01-06
    listed $59,900 Active 859-char remark

    Show marketing remark (859 chars)

    Opportunity awaits with this traditional 2.5 story home located minutes from downtown Dayton. Full of classic charm, this property offers a fantastic canvas for renovation and customization. Enjoy relaxing mornings on the covered front porch, a timeless feature that adds curb appeal and neighborhood charm. Inside, the spacious layout provides flexibility across multiple levels, ideal for creating distinct living, working, or entertaining spaces. The kitchen has been fully gutted, giving the next owner a blank slate to design a modern, functional space tailored to their vision. With solid bones and generous square footage, this home is well-suited to restore a historic property to its full potential. Conveniently located near downtown, dining, shopping, and major routes, this is a rare chance to bring new life to a classic home in a prime location.

19. 2004-05-05
    soldstatus $13,900
20. 2002-01-04
    soldstatus $85,000

ⓘ 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: $2,086 · $174/mo
• Projected year-2 tax: $2,086 · $174/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 5/10 Major FEMA zone X (unshaded) · 47% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,515
• − Mortgage interest: −$2,515
• − Property taxes: −$2,086
• − Insurance: −$224
• − Repairs & maintenance: −$1,161
• − Management: −$1,161
• − Depreciation: −$1,306
• Taxable income: $6,060
• Est. tax owed @ 24.0%: −$1,454
• After-tax cash flow: $4,876/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): 18,955
• Household income: $43,973
• Rent vs Own: 64.0% rent · 36.0% own
• Severe rent burden: 1475.0

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 (68%)
• Race & ethnicity: Black 68% White 23% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Italian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 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: ▼ -125.58%
• Current HPI: 173.4962
• Rent YoY: ▲ 4.34%
• 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

-41.3% since first listed

4 events — show timeline

• 2026-05-10 Price Changed $49,900 Dayton MLS
• 2026-01-06 Listed $59,900 Dayton MLS
• 2004-05-05 Sold (Public Records) $13,900 Public Records
• 2002-01-04 Sold (Public Records) $85,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $2,086 · +26.9% YoY. Source: county tax records.