1788 Cherokee Dr Unit F · West Carrollton, OH 45449

$86,500

2 bd · 1.5 ba · 943 sqft · Condo public records · 79 Days on market

Built 1974 $92/sqft · at area comps Est $85k · at est. $374/mo HOA · 29% of rent

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Why this score? — see what drove the C- 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 +17.2/30.0
• 1% rule +9.8/10.0
• ARV discount +6.6/15.0
• DSCR +5.4/10.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming Condo in West Carrollton – Move-In Ready! Welcome to this inviting 2-bedroom, 1.5-bath condominium in the desirable Indian Creek community. The home features a spacious living area that flows into the dining space and kitchen, perfect for entertaining or relaxing. The primary bedroom includes a private bath, while a walkout from the living room opens to your own private patio. Residents enjoy access to a clubhouse and pool, plus the convenience of on-site laundry. The monthly condo fee covers hazard insurance, trash removal, swimming, clubhouse use, and water—offering peace of mind and easy living. Located close to I-75, shopping, and dining, this condo is a must-see. Come and experience it for yourself!

Key facts

• Clubhouse
• Private patio
• Pool

Tags

• PRIVATE PATIO
• CLUBHOUSE
• POOL
• ON-SITE LAUNDRY
• INDIAN CREEK COMMUNITY

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $86k.

Deal economics

• At list price, monthly cash flow is $62 ($742/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $86k).
• Recommended offer: $81k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 4.7% in West Carrollton — 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 (#712 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• West Carrollton City (suburban): math 34% / reading 46% proficiency, ranked #540 of 656 in OH (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 82 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $598 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.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $8k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $86k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.

Recommended offer $81,310 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 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 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.48% ✓
• Cap rate: 7.15%
• Cash-on-cash: 3.06%
• DSCR: 1.14
• GRM: 5.6

CMA / ARV

• ARV (median comp): $84,750
• List price: $86,500
• Delta: 2.06%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.2%
• Equity multiple: 0.59×
• Total profit: $-9,844
• Equity at exit: $12,897

10-year hold

• IRR: -1.5%
• Equity multiple: 0.89×
• Total profit: $-2,551
• Equity at exit: $7,479

Cash invested: $24,220 (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 45449

• Active inventory: 82
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,277 high
• Mortgage (P&I): −$454
• Tax from tax record: −$84 /mo · $1,003/yr
• Insurance: −$36
• HOA: −$374
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $62

Break-even live

Break-even rent $1,199

Max offer price $86,500

Occupancy floor 90%

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: $21,625
• Closing costs: $2,595
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1651 S Elm St Dayton, OH	1.0–2.0	1.0–2.0	908	$1,549	$1.71	2d	9	0.14mi
841 Gawain Cir Dayton, OH	1.0–3.0	1.0–2.0	950	$1,140	$1.20	2d	17	0.33mi
712 Green Feather Ct Unit 5 Dayton, OH	2.0	1.0	1000	$1,200	$1.20	2d	1	0.63mi
1306 Black Forest Dr Apt A Dayton, OH	1.0	1.0	830	$925	$1.11	23d	1	0.66mi
1306 Black Forest Dr Unit B Dayton, OH	2.0	1.0	830	$1,175	$1.42	2d	1	0.66mi
1308 Camp Hill Way Dayton, OH	2.0	2.0	1000	$1,175	$1.18	2d	11	0.88mi
1122 Redbluff Dr Unit B Dayton, OH	1.0	1.0	850	$900	$1.06	43d	1	0.96mi
155 Prestige Pl Miamisburg, OH	1.0	1.0	593	$1,370	$2.31	2d	9	1.00mi
1735 Mars Hill Dr Dayton, OH	2.0	1.0–2.0	968	$1,162	$1.20	2d	4	1.05mi
1130 Bishop Dr Unit 1130-C Dayton, OH	2.0	1.0	850	$880	$1.04	2d	1	1.09mi
85 N Gebhart Church Rd Unit G Miamisburg, OH	2.0	1.0	950	$895	$0.94	23d	1	1.10mi
7477 Shady Water Ln Dayton, OH	2.0	1.0–2.0	712	$1,490	$2.09	2d	36	1.11mi
2910 Knoll Ridge Dr Dayton, OH	1.0–3.0	1.0–2.0	680	$974	$1.43	2d	1	1.12mi
1644 Villa South Dr Dayton, OH	2.0	1.5	1000	$1,500	$1.50	43d	1	1.18mi
8470 Towson Blvd Miamisburg, OH	2.0	1.5	1050	$1,182	$1.13	2d	9	1.28mi
8310 Lyons Gate Way Miamisburg, OH	1.0–2.0	1.0	715	$1,455	$2.03	3d	11	1.29mi
8470 Towson Blvd Miamisburg, OH	2.0	1.5	1050	$1,188	$1.13	18d	7	1.32mi
911 S Alex Rd Dayton, OH	1.0	1.0	625	$799	$1.28	2d	5	1.35mi
2125 Maue Rd Miamisburg, OH	2.0	1.0–1.5	825	$2,048	$2.48	2d	1	1.37mi

HOA detail condo

• Monthly dues: $374 · $4,488/yr
• Likely covers: watertrashinsurancepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 38 events

1. 2026-06-19
   price $86,500 Active 79 DOM
2. 2026-06-18
   days on market $90,000 Active 79 DOM
3. 2026-06-17
   days on market $90,000 Active 78 DOM
4. 2026-06-16
   days on market $90,000 Active 77 DOM
5. 2026-06-15
   days on market $90,000 Active 76 DOM
6. 2026-06-14
   days on market $90,000 Active 74 DOM
7. 2026-06-13
   days on market $90,000 Active 73 DOM
8. 2026-06-10
   days on market $90,000 Active 71 DOM
9. 2026-06-09
   days on market $90,000 Active 70 DOM
10. 2026-06-08
    days on market $90,000 Active 69 DOM
11. 2026-06-07
    days on market $90,000 Active 68 DOM
12. 2026-06-03
    days on market $90,000 Active 64 DOM
13. 2026-06-02
    days on market $90,000 Active 63 DOM
14. 2026-06-01
    days on market $90,000 Active 62 DOM
15. 2026-05-31
    days on market $90,000 Active 61 DOM
16. 2026-05-31
    days on market $90,000 Active 60 DOM
17. 2026-05-02
    price $92,000 735-char remark

    Show marketing remark (735 chars)

    Charming Condo in West Carrollton – Move-In Ready! Welcome to this inviting 2-bedroom, 1.5-bath condominium in the desirable Indian Creek community. The home features a spacious living area that flows into the dining space and kitchen, perfect for entertaining or relaxing. The primary bedroom includes a private bath, while a walkout from the living room opens to your own private patio. Residents enjoy access to a clubhouse and pool, plus the convenience of on-site laundry. The monthly condo fee covers hazard insurance, trash removal, swimming, clubhouse use, and water—offering peace of mind and easy living. Located close to I-75, shopping, and dining, this condo is a must-see. Come and experience it for yourself!

18. 2026-03-31
    listed $95,000 Active 735-char remark

    Show marketing remark (735 chars)

    Charming Condo in West Carrollton – Move-In Ready! Welcome to this inviting 2-bedroom, 1.5-bath condominium in the desirable Indian Creek community. The home features a spacious living area that flows into the dining space and kitchen, perfect for entertaining or relaxing. The primary bedroom includes a private bath, while a walkout from the living room opens to your own private patio. Residents enjoy access to a clubhouse and pool, plus the convenience of on-site laundry. The monthly condo fee covers hazard insurance, trash removal, swimming, clubhouse use, and water—offering peace of mind and easy living. Located close to I-75, shopping, and dining, this condo is a must-see. Come and experience it for yourself!

19. 2026-02-14
    historical
20. 2026-01-22
    status Active
21. 2026-01-15
    status Pending
22. 2025-12-02
    price $92,000
23. 2025-11-04
    price $100,000
24. 2025-10-09
    price $105,000
25. 2025-08-29
    price $107,500
26. 2025-08-14
    listed $110,000 Active
27. 2021-12-13
    soldstatus $50,000
28. 2021-11-17
    soldstatus $50,000 Sold
29. 2021-11-17
    soldstatus $50,000 Closed
30. 2021-11-10
    historical Active/Pending
31. 2021-10-22
    price $59,900
32. 2021-10-15
    listed $65,000 Active
33. 2018-02-20
    soldstatus $35,000
34. 2014-11-30
    historical
35. 2014-05-21
    listed $39,925
36. 2005-07-06
    soldstatus $50,500
37. 1996-03-15
    soldstatus $41,000
38. 1993-01-07
    soldstatus $425,000

ⓘ 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: $1,003 · $84/mo
• Projected year-2 tax: $1,176 · $98/mo
• Expected delta: +$173/yr (+$14/mo · 17.3%)

ⓘ 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 ≥99°F today · 19 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: $15,328
• − Mortgage interest: −$4,845
• − Property taxes: −$1,003
• − Insurance: −$432
• − Repairs & maintenance: −$1,226
• − Management: −$1,226
• − HOA: −$4,488
• − Depreciation: −$2,516
• Taxable loss: −$410
• Est. tax savings @ 24.0%: +$98
• After-tax cash flow: $840/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: West Carrollton City
• NCES district ID: 3904505
• Math proficiency: 34% ▼ -12.00%
• Reading proficiency: 46% ▼ -9.00%
• Median HH income: $42,209
• Composite: 33.71/100
• National rank: #5380
• State rank: #540 of 656 in OH

Livability — West Carrollton

• Score: 65/100
• State rank: #712
• US rank: #12835

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Carrollton, OH
• County: Montgomery County · 459,541 people
• City population: 19,066
• Metro: Dayton-Kettering, OH
• Population (ZIP): 19,066
• Household income: $63,800
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 745.0

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 (71%)
• Race & ethnicity: White 71% Black 13% Two or more races 9% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 5% Arabic 3% Chinese 2%

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: ▼ -188.64%
• Current HPI: 248.1785
• 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

-78.4% since first listed

22 events — show timeline

• 2026-05-02 Price Changed $92,000 Dayton MLS
• 2026-03-31 Listed $95,000 Dayton MLS
• 2026-02-14 Listing Removed — Dayton MLS
• 2026-01-22 Relisted — Dayton MLS
• 2026-01-15 Pending — Dayton MLS
• 2025-12-02 Price Changed $92,000 Dayton MLS
• 2025-11-04 Price Changed $100,000 Dayton MLS
• 2025-10-09 Price Changed $105,000 Dayton MLS
• 2025-08-29 Price Changed $107,500 Dayton MLS
• 2025-08-14 Listed $110,000 Dayton MLS
• 2021-12-13 Sold (Public Records) $50,000 Public Records
• 2021-11-17 Sold (MLS) $50,000 Dayton MLS
• 2021-11-17 Sold (MLS) $50,000 Dayton MLS
• 2021-11-10 Contingent — Dayton MLS
• 2021-10-22 Price Changed $59,900 Dayton MLS
• 2021-10-15 Listed $65,000 Dayton MLS
• 2018-02-20 Sold (Public Records) $35,000 Public Records
• 2014-11-30 Listing Removed — Dayton MLS
• 2014-05-21 Listed $39,925 Dayton MLS
• 2005-07-06 Sold (Public Records) $50,500 Public Records
• 1996-03-15 Sold (Public Records) $41,000 Public Records
• 1993-01-07 Sold (Public Records) $425,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $1,003 · -0.1% YoY. Source: county tax records.