1017 Jill Ct · Piqua, OH 45356

$424,900

9 bd · 6.0 ba · 4,320 sqft · MultiFamily public records · 1 Days on market

Built 1999 0.30 ac lot ↓ 4% since listing

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Why this score? — see what drove the D 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 +16.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Schools +4.0/10.0
• 1% rule +3.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Unit apt building, 2 bed, 1 1/2 baths each, no garages. Rents are 1017 - $600, 1019 - $ 600, 1021 - $600, 102 - $ 600

Key facts

• 0.3 acre lot
• Built 1999

Property features AI

Exterior

• Utilities: Public sewer; Supplied water; Separate meters
• Home design: Multi-Family property; Built in 1999
• Construction: Brick and vinyl siding exterior; Slab foundation
• Exterior features: Patio; Four-unit multi-family property; Lot approximately 0.3 acres (96 x 136)

Interior

• Kitchen: Dishwasher, Range, Refrigerator
• Flooring: Carpet; Laminate; Tile
• Bathrooms: Total of 8 bathrooms (4 full, 4 half)
• Heating & cooling: Electric heating; Window cooling units
• Interior features: Dishwasher, Range, Refrigerator

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/2.0-bath units multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $234 ($3k/yr) — positive. Per door: $78/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $378k (11.0% below list).
• Recommended offer: $378k (11.0% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 4.7% in Piqua — 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 62/100 on livability (#887 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Piqua City (rural): math 45% / reading 50% proficiency, ranked #482 of 656 in OH (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Piqua High School (math 12% / reading 57%, grade F, #582 of 781 statewide, top 76%, 876 students, 52% FRL) — zoned schools at 52% FRL track the district average.
• Zoned-school proficiency averages 34% at this address vs 48% district-wide (-13 pts) — the specific schools serving this property underperform the Piqua City average; the district grade overstates school quality for this exact location.
• Market conditions: 139 active listings in the ZIP; 326 units permitted in Miami County in 2024 (0 in 5+ unit buildings).
• At $3,782/mo this rent would consume 66% of the median local household income ($69k/yr) (locally 748% 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 $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y ago; this cycle's ask is 85% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $220k; list at $425k implies a 93% gain — meaningful room to come down on a strong offer.

Recommended offer $378,200 (11.0% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.89% ✗
• Cap rate: 6.95%
• Cash-on-cash: 2.36%
• DSCR: 1.10
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -12.6%
• Equity multiple: 0.55×
• Total profit: $-54,030
• Equity at exit: $63,354

10-year hold

• IRR: -3.5%
• Equity multiple: 0.76×
• Total profit: $-28,115
• Equity at exit: $36,738

Cash invested: $118,972 (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 45356

• Active inventory: 139
• Price-to-rent: 28.1×

Monthly cashflow live

• Estimated rent: $3,782 medium
• Mortgage (P&I): −$2,228
• Tax from tax record: −$349 /mo · $4,187/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$794
• Net cashflow: $234

Break-even live

Break-even rent $3,486

Max offer price $424,900

Occupancy floor 89%

Sensitivity live

Price	-10% $474	-5% $354	+0% $234	+5% $113	+10% $-7
Rent	-10% $-65	-5% $84	+0% $234	+5% $383	+10% $532
Rate	-1.0pp $448	-0.5pp $342	base $234	+0.5pp $123	+1.0pp $11

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	2	$3,783
Total (3 units)			$3,782

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: $106,225
• Closing costs: $12,747
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-17
   remarks 187-char remark
2. 2026-06-17
   listed $424,900 Active 1 DOM

ⓘ 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: $4,187 · $349/mo
• Projected year-2 tax: $5,408 · $451/mo
• Expected delta: +$1,221/yr (+$102/mo · 29.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,384
• − Mortgage interest: −$23,801
• − Property taxes: −$4,187
• − Insurance: −$2,124
• − Repairs & maintenance: −$3,631
• − Management: −$3,631
• − Depreciation: −$12,361
• Taxable loss: −$4,351
• Est. tax savings @ 24.0%: +$1,044
• After-tax cash flow: $3,847/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: Piqua City
• NCES district ID: 3904464
• Math proficiency: 45% ▼ -11.00%
• Reading proficiency: 50% ▼ -7.00%
• Median HH income: $41,751
• Composite: 39.91/100
• National rank: #3855
• State rank: #482 of 656 in OH

Livability — Piqua

• Score: 62/100
• State rank: #887
• US rank: #16830

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Piqua, OH
• County: Miami County · 85,667 people
• City population: 25,237
• Metro: Dayton-Kettering, OH
• Population (ZIP): 25,237
• Household income: $69,188
• Rent vs Own: 29.4% rent · 70.6% own
• Severe rent burden: 748.0

Population outlook (Miami County) Hauer SSP2

• Today (2025): 107,816 people
• By 2030: 108,896 · +1.0%
• By 2040: 109,581 · +1.6%
• By 2050: 108,110 · +0.3%
• By 2075: 101,523 · -5.8%
• By 2100: 85,787 · -20.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 3% Black 2% Hispanic / Latino 1%
• Common ancestry: Iranian 2% Italian 2% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1% Vietnamese 0%

Political lean MEDSL · Miami

• 2024 margin: Solid R (+45.1) · D 27.0% · R 72.1%
• 2008→2024 swing: -16.6pp toward R · 2008: -28.5pp · 2024: -45.1pp
• All cycles: 2024: R+45.1 2020: R+44.3 2016: R+45.6 2012: R+35.6 2008: R+28.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -137.96%
• Current HPI: 251.435
• 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

-4.3% since first listed

8 events — show timeline

• 2018-08-07 Sold (MLS) $220,000 WRIST
• 2018-08-07 Sold (MLS) $220,000 Dayton MLS
• 2018-08-07 Sold (MLS) $220,000 Dayton MLS
• 2018-06-21 Pending — Dayton MLS
• 2018-06-11 Relisted — Dayton MLS
• 2018-05-30 Pending — Dayton MLS
• 2018-05-15 Listed $230,000 Dayton MLS
• 2018-05-14 Listed $230,000 WRIST

Property tax history

-0.3%/yr

Latest (2025): $4,187 · +2.6% YoY. Source: county tax records.