929 Xenia Ave · Dayton, OH 45410

$130,000

4 bd · 2.0 ba · 1,822 sqft · MultiFamily public records · 147 Days on market

Built 1882 5,689 sqft lot $71/sqft · at area comps Est $132k · at est.

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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 +27.9/30.0
• DSCR +9.9/10.0
• ARV discount +8.0/15.0
• 1% rule +6.3/10.0
• Rent growth +5.0/5.0
• 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

Duplex close to downtown Dayton. 2 Bedrooms, 1 bath on each side. Large fenced in backyard.

Key facts

• 5,689 sq ft lot
• Built 1882
• Listed 146 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $401 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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 (+11.4%/yr); 92 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• This rent runs 38% of the median local income ($47k/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 $899 of loan paydown is wiped out by about $4k 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 + 8.0% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $2k; list at $130k implies a 6400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1882 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 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 1882 — 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: 1.13% ✓
• Cap rate: 9.99%
• Cash-on-cash: 13.21%
• DSCR: 1.59
• GRM: 7.3

CMA / ARV

• ARV (median comp): $131,531
• List price: $130,000
• Delta: -1.16%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
424-426 Boltin St	0.06mi	5/— (+1)	1,806 (-1%)	19mo	$120,000	$66	75
423 Hulbert St #421	0.05mi	4/2.0	2,012 (+10%)	20mo	$159,900	$79	64
1609 E 5th St	0.65mi	4/2.5	1,896 (+4%)	1mo	$225,000	$119	60
624-626 Pritz Ave	0.31mi	4/2.0	1,904 (+4%)	23mo	$65,000	$34	59
48 Indiana Ave	0.51mi	4/2.0	1,924 (+6%)	11mo	$145,000	$75	58
1608 Xenia Ave	0.46mi	3/2.0 (-1)	1,564 (-14%)	10mo	$160,000	$102	41
132 Kastner Ave	0.63mi	4/2.5	1,592 (-13%)	9mo	$90,000	$57	40

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 8.1%
• Equity multiple: 1.33×
• Total profit: $12,187
• Equity at exit: $19,383

10-year hold

• IRR: 21.0%
• Equity multiple: 3.16×
• Total profit: $78,688
• Equity at exit: $11,240

Cash invested: $36,400 (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 45410

• Home prices YoY: -21.4%
• Rents YoY: 11.4%
• Active inventory: 92
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,474 high
• Mortgage (P&I): −$682
• Tax from tax record: −$28 /mo · $334/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $401

Break-even live

Break-even rent $967

Max offer price $130,000

Occupancy floor 68%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
511 Parrot St Dayton, OH	3.0	1.5	1618	$1,100	$0.68	14d	1	0.09mi
1411 Wyoming St Dayton, OH	3.0	1.0	1256	$1,095	$0.87	2d	1	0.41mi
438 Clover St Dayton, OH	3.0	2.0	2156	$1,025	$0.48	43d	1	0.41mi
1515 Wyoming St Dayton, OH	3.0	1.0	1400	$1,000	$0.71	43d	1	0.44mi
1038 Walnut Hill Pl Dayton, OH	3.0	1.0	1232	$1,095	$0.89	43d	1	0.55mi
20 Lucerne Ave Dayton, OH	3.0	1.0	1378	$1,200	$0.87	43d	1	0.61mi
1101 Phillips Ave Unit 1101 Dayton, OH	3.0	1.5	1300	$1,450	$1.12	43d	1	0.62mi
244 Quitman St Unit A Dayton, OH	3.0	1.0	1987	$1,325	$0.67	23d	1	0.65mi
32 Gebhart St Dayton, OH	4.0	1.0	1800	$1,400	$0.78	14d	1	0.66mi
1603 Manette Pl Dayton, OH	4.0	2.0	2000	$1,695	$0.85	14d	1	0.73mi
115 Livingston Ave Dayton, OH	3.0	1.0	1624	$1,450	$0.89	44d	1	0.73mi
836 Wellmeier Ave Dayton, OH	4.0	1.0	2148	$1,500	$0.70	3d	1	0.77mi
314 Sheridan Ave Dayton, OH	3.0	1.0	1258	$1,150	$0.91	3d	1	0.77mi
320 Park Dr Dayton, OH	4.0	3.0	2100	$2,400	$1.14	14d	1	0.79mi
519 Wyoming St Dayton, OH	3.0	1.5	1240	$1,600	$1.29	43d	1	0.81mi
2114 Wayne Ave Dayton, OH	4.0	2.0	1723	$1,595	$0.93	43d	1	0.82mi
2132 Wayne Ave Dayton, OH	3.0	2.0	1484	$1,350	$0.91	2d	1	0.84mi
228 James St Dayton, OH	3.0	1.0	1700	$1,200	$0.71	43d	1	0.85mi
227 James St Unit 1 Dayton, OH	3.0	1.0	1700	$1,200	$0.71	3d	1	0.86mi
229 James St Unit 228 Dayton, OH	3.0	1.0	1700	$1,200	$0.71	23d	1	0.86mi
920 E Stewart St Dayton, OH	4.0	1.0	1322	$1,425	$1.08	43d	1	0.95mi
2600 Wayne Ave Dayton, OH	4.0	1.5	1328	$1,500	$1.13	23d	1	0.99mi
534 Beckman St Dayton, OH	3.0	2.0	1452	$1,400	$0.96	2d	1	1.01mi
319 Wyoming St Dayton, OH	4.0	2.5	2064	$2,000	$0.97	2d	1	1.07mi
243 Oak St Dayton, OH	3.0	1.5	1316	$1,600	$1.22	3d	1	1.13mi
218 Brown St Unit 218 Dayton, OH	3.0	2.5	1789	$2,200	$1.23	43d	1	1.21mi
218 Brown St Dayton, OH	3.0	2.5	1800	$3,200	$1.78	43d	1	1.21mi
216 Brown St Dayton, OH	3.0	1.5	1563	$2,500	$1.60	43d	1	1.22mi
1520 S Smithville Rd Dayton, OH	3.0	2.0	1481	$1,345	$0.91	2d	1	1.29mi
3707 E 3rd St Unit 3705 Dayton, OH	3.0	1.0	1410	$1,045	$0.74	23d	1	1.35mi
204 Sears St Dayton, OH	3.0	1.0–2.5	1124	$2,793	$2.48	2d	10	1.38mi
1112 Irving Ave Dayton, OH	3.0	4.0	2041	$4,500	$2.20	3d	1	1.44mi

Listing history 19 events

1. 2026-06-18
   days on market $130,000 Active 147 DOM
2. 2026-06-17
   days on market $130,000 Active 146 DOM
3. 2026-06-16
   days on market $130,000 Active 145 DOM
4. 2026-06-15
   days on market $130,000 Active 144 DOM
5. 2026-06-14
   days on market $130,000 Active 142 DOM
6. 2026-06-13
   days on market $130,000 Active 141 DOM
7. 2026-06-10
   days on market $130,000 Active 139 DOM
8. 2026-06-09
   days on market $130,000 Active 138 DOM
9. 2026-06-08
   days on market $130,000 Active 137 DOM
10. 2026-06-07
    days on market $130,000 Active 136 DOM
11. 2026-06-05
    days on market $130,000 Active 133 DOM
12. 2026-06-03
    days on market $130,000 Active 132 DOM
13. 2026-06-02
    days on market $130,000 Active 131 DOM
14. 2026-06-01
    days on market $130,000 Active 130 DOM
15. 2026-05-31
    days on market $130,000 Active 129 DOM
16. 2026-04-11
    price $130,000 91-char remark

    Show marketing remark (91 chars)

    Duplex close to downtown Dayton. 2 Bedrooms, 1 bath on each side. Large fenced in backyard.

17. 2026-02-21
    price $145,000 91-char remark

    Show marketing remark (91 chars)

    Duplex close to downtown Dayton. 2 Bedrooms, 1 bath on each side. Large fenced in backyard.

18. 2026-01-18
    listed $160,000 Active 91-char remark

    Show marketing remark (91 chars)

    Duplex close to downtown Dayton. 2 Bedrooms, 1 bath on each side. Large fenced in backyard.

19. 2011-06-20
    soldstatus $2,000

ⓘ 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: $334 · $28/mo
• Projected year-2 tax: $1,181 · $98/mo
• Expected delta: +$847/yr (+$71/mo · 253.2%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°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: $17,689
• − Mortgage interest: −$7,282
• − Property taxes: −$334
• − Insurance: −$650
• − Repairs & maintenance: −$1,415
• − Management: −$1,415
• − Depreciation: −$3,782
• Taxable income: $2,810
• Est. tax owed @ 24.0%: −$674
• After-tax cash flow: $4,134/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): 14,694
• Household income: $46,651
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 961.0

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 15% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 2% Iranian 2% Slovak 2%
• Foreign-born: 5% · Canada, United Kingdom
• Languages at home: 91% English-only · Spanish 6% Tagalog/Filipino 1% Other Asian/Pacific 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: ▼ -100.61%
• Current HPI: 369.3938
• Rent YoY: ▲ 11.37%
• 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

+6400.0% since first listed

4 events — show timeline

• 2026-04-11 Price Changed $130,000 Dayton MLS
• 2026-02-21 Price Changed $145,000 Dayton MLS
• 2026-01-18 Listed $160,000 Dayton MLS
• 2011-06-20 Sold (Public Records) $2,000 Public Records

Property tax history

+0.3%/yr

Latest (2025): $334 · -0.2% YoY. Source: county tax records.