817 Harvard Blvd · Dayton, OH 45406

$84,900

6 bd · 2.0 ba · 2,812 sqft · MultiFamily public records · 62 Days on market

Built 1913 6,159 sqft lot $30/sqft · 18% below area Est $103k · 18% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Large side-by-side double with 3 bedrooms and 1 bath on each side. 2 car detached garage. Gutter and downspout repairs completed. Separate meters for gas, electric and water are available for each unit. Rents could be $1000 or more. Can be sold individually or in a PACKAGE with 3 other properties. This could be a great project since all 4 properties are within 2 blocks of each other. This property is owned by Montgomery County Land Bank. Please Note: All properties currently owned by potential buyers must be current for a minimum of 2 years on their taxes and all nuisance violations on those properties must have been addressed. (Information provided by seller and public record. Please rely on own inspections. )

Key facts

• Detached garage
• Separate meters
• 6,159 sq ft lot

Tags

• DETACHED GARAGE
• GUTTER AND DOWNSPOUT REPAIRS
• SEPARATE METERS

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $85k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.
• Cap rate 23.3% 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 (+3.0%/yr); 156 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $2,264/mo this rent would consume 65% of the median local household income ($42k/yr) (locally 1504% 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 62 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,806 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.67% ✓
• Cap rate: 23.28%
• Cash-on-cash: 60.67%
• DSCR: 3.70
• GRM: 3.1

CMA / ARV

• ARV (median comp): $102,982
• List price: $84,900
• Delta: -17.56%
• 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
804 Harvard Blvd	0.03mi	6/2.0	2,796 (-1%)	0mo	$65,000	$23	97
229-231 Wroe Ave	0.09mi	6/2.0	2,704 (-4%)	3mo	$115,000	$43	87
717 Homewood Ave	0.13mi	6/2.0	2,570 (-9%)	4mo	$75,000	$29	76
375 Kenwood Ave #373	0.17mi	6/2.0	2,560 (-9%)	5mo	$50,000	$20	72
18-20 Cambridge Ave	0.26mi	6/2.0	3,196 (+14%)	3mo	$130,000	$41	63
44 W Mumma Ave	0.43mi	6/2.0	2,530 (-10%)	2mo	$115,000	$45	62
1208 Salem #210	0.44mi	6/—	3,090 (+10%)	4mo	$180,000	$58	60
1117-1119 Superior Ave #1117	0.73mi	6/2.0	2,870 (+2%)	4mo	$169,000	$59	59
49-51 Cambridge Ave	0.27mi	6/2.0	3,224 (+15%)	7mo	$65,000	$20	57
249-251 Lexington Ave	0.47mi	6/2.0	2,464 (-12%)	3mo	$67,500	$27	55
120 Marathon Ave	0.59mi	6/2.0	2,514 (-11%)	2mo	$30,000	$12	53
70-72 Mary Ave #70	0.65mi	6/2.0	2,560 (-9%)	6mo	$55,000	$21	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 · 3.03% rent growth · sell at horizon

5-year hold

• IRR: 59.5%
• Equity multiple: 3.65×
• Total profit: $62,891
• Equity at exit: $12,659

10-year hold

• IRR: 64.2%
• Equity multiple: 7.47×
• Total profit: $153,748
• 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 45406

• Rents YoY: 3.0%
• Active inventory: 156
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,264 high
• Mortgage (P&I): −$445
• Tax est. 1.5%: −$106 /mo · $1,274/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $1,202

Break-even live

Break-even rent $743

Max offer price $84,900

Occupancy floor 42%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,264
Total (2 units)			$2,264

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: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
932 Harvard Blvd Dayton, OH	5.0	2.0	1986	$1,500	$0.76	44d	1	0.11mi

Listing history 23 events

1. 2026-06-18
   days on market $84,900 Active 62 DOM
2. 2026-06-17
   days on market $84,900 Active 61 DOM
3. 2026-06-16
   days on market $84,900 Active 60 DOM
4. 2026-06-15
   days on market $84,900 Active 59 DOM
5. 2026-06-14
   days on market $84,900 Active 57 DOM
6. 2026-06-13
   days on market $84,900 Active 56 DOM
7. 2026-06-10
   days on market $84,900 Active 54 DOM
8. 2026-06-09
   days on market $84,900 Active 53 DOM
9. 2026-06-08
   days on market $84,900 Active 52 DOM
10. 2026-06-07
    days on market $84,900 Active 51 DOM
11. 2026-06-05
    days on market $84,900 Active 48 DOM
12. 2026-06-03
    days on market $84,900 Active 47 DOM
13. 2026-06-02
    days on market $84,900 Active 46 DOM
14. 2026-06-01
    days on market $84,900 Active 45 DOM
15. 2026-05-31
    days on market $84,900 Active 44 DOM
16. 2026-03-02
    listed $89,900 Active 720-char remark

    Show marketing remark (720 chars)

    Large side-by-side double with 3 bedrooms and 1 bath on each side. 2 car detached garage. Gutter and downspout repairs completed. Separate meters for gas, electric and water are available for each unit. Rents could be $1000 or more. Can be sold individually or in a PACKAGE with 3 other properties. This could be a great project since all 4 properties are within 2 blocks of each other. This property is owned by Montgomery County Land Bank. Please Note: All properties currently owned by potential buyers must be current for a minimum of 2 years on their taxes and all nuisance violations on those properties must have been addressed. (Information provided by seller and public record. Please rely on own inspections. )

17. 2022-12-16
    soldstatus $199,000
18. 2018-10-03
    soldstatus $435,000
19. 2018-08-23
    soldstatus $320,000
20. 1991-11-27
    soldstatus $36,900
21. 1991-11-27
    soldstatus $36,900
22. 1987-08-03
    soldstatus $26,000
23. 1986-07-28
    soldstatus $24,000

ⓘ 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 ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,168
• − Mortgage interest: −$4,756
• − Property taxes: −$1,274
• − Insurance: −$424
• − Repairs & maintenance: −$2,173
• − Management: −$2,173
• − Depreciation: −$2,470
• Taxable income: $13,898
• Est. tax owed @ 24.0%: −$3,335
• After-tax cash flow: $11,087/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): 19,991
• Household income: $41,796
• Rent vs Own: 52.9% rent · 47.1% own
• Severe rent burden: 1504.0

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 (75%)
• Race & ethnicity: Black 75% White 16% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 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: ▼ -113.75%
• Current HPI: 197.1302
• Rent YoY: ▲ 3.03%
• 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

+274.6% since first listed

8 events — show timeline

• 2026-03-02 Listed $89,900 Dayton MLS
• 2022-12-16 Sold (Public Records) $199,000 Public Records
• 2018-10-03 Sold (Public Records) $435,000 Public Records
• 2018-08-23 Sold (Public Records) $320,000 Public Records
• 1991-11-27 Sold (Public Records) $36,900 Public Records
• 1991-11-27 Sold (Public Records) $36,900 Public Records
• 1987-08-03 Sold (Public Records) $26,000 Public Records
• 1986-07-28 Sold (Public Records) $24,000 Public Records

Property tax history

-14.4%/yr

Latest (2025): $104 · -77.4% YoY. Source: county tax records.