410 N Cherrywood Ave · Dayton, OH 45403

$1,479,900

816 bd · 2.0 ba · 8,316 sqft · MultiFamily public records · 42 Days on market

Built 1968 0.31 ac lot $178/sqft · 243% above area

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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 +3.4/5.0
• 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 (5+ Unit). Listing-text estimate: 24 units. confirmed

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

Discover an exceptional investment opportunity in the heart of Dayton with this impressive 24-unit multifamily property featuring both 410 & 420 Cherrywood Ave. Tucked away in a private, well-maintained setting, these two buildings surround a beautifully kept shared courtyard and spacious parking area, creating an attractive environment for tenants and owners alike. Residents enjoy desirable amenities including on-site laundry, added security features, and convenient access to major highways, shopping, dining, and downtown Dayton. With strong rental appeal and income potential from day one, this turnkey property is an outstanding opportunity for investors looking to expand their portfolio with a stable, income-producing asset.

Key facts

• On site laundry
• Shared courtyard
• Shopping

Tags

• 24 UNIT MULTIFAMILY PROPERTY
• SHARED COURTYARD
• SPACIOUS PARKING AREA
• ON SITE LAUNDRY
• ADDED SECURITY FEATURES
• SHOPPING

What this means for you Summary

Snapshot

• This is a 24 × 34-bed/24.0-bath units multifamily listed at $1.48M.

Deal economics

• At list price, monthly cash flow is $14k ($163k/yr) — positive. Per door: $567/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($29k rent vs $1.48M).
• Recommended offer: $1.44M (3.0% below list) — sets the bar for market timing.
• Cap rate 17.3% 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 (+3.7%/yr); 77 active listings in the ZIP; lower-income renter base — watch delinquency; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $28,731/mo this rent would consume 900% of the median local household income ($38k/yr) (locally 1071% 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 $10k of loan paydown is wiped out by about $44k 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 + 3.7% rent growth), your $414k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($1.44M) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $565k; list at $1.48M implies a 162% gain — meaningful room to come down on a strong offer.

Recommended offer $1,435,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.94% ✓
• Cap rate: 17.33%
• Cash-on-cash: 39.41%
• DSCR: 2.75
• GRM: 4.3

CMA / ARV

• ARV (median comp): $431,764
• List price: $1,479,900
• Delta: 242.76%
• Verdict: OVERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.71% rent growth · sell at horizon

5-year hold

• IRR: 36.4%
• Equity multiple: 2.56×
• Total profit: $647,403
• Equity at exit: $220,658

10-year hold

• IRR: 43.4%
• Equity multiple: 5.26×
• Total profit: $1,764,867
• Equity at exit: $127,955

Cash invested: $414,372 (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 45403

• Home prices YoY: -3.7%
• Rents YoY: 3.7%
• Active inventory: 77
• Price-to-rent: 103.0×

Monthly cashflow live

• Estimated rent: $28,731 medium
• Mortgage (P&I): −$7,761
• Tax from tax record: −$710 /mo · $8,525/yr
• Insurance: −$617
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,034
• Net cashflow: $13,610

Break-even live

Break-even rent $11,504

Max offer price $1,479,900

Occupancy floor 48%

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

Units	Beds	Baths	Est. rent
▸ 24× units	34	24	$28,728
Total (24 units)			$28,731

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: $369,975
• Closing costs: $44,397
• Reserves months: —
• Total cash needed: —

Listing history 37 events

1. 2026-06-18
   days on market $1,479,900 Active 42 DOM
2. 2026-06-17
   days on market $1,479,900 Active 41 DOM
3. 2026-06-16
   days on market $1,479,900 Active 40 DOM
4. 2026-06-15
   days on market $1,479,900 Active 39 DOM
5. 2026-06-14
   days on market $1,479,900 Active 37 DOM
6. 2026-06-13
   days on market $1,479,900 Active 36 DOM
7. 2026-06-10
   days on market $1,479,900 Active 34 DOM
8. 2026-06-09
   days on market $1,479,900 Active 33 DOM
9. 2026-06-08
   days on market $1,479,900 Active 32 DOM
10. 2026-06-07
    days on market $1,479,900 Active 31 DOM
11. 2026-06-05
    days on market $1,479,900 Active 28 DOM
12. 2026-06-03
    days on market $1,479,900 Active 27 DOM
13. 2026-06-02
    days on market $1,479,900 Active 26 DOM
14. 2026-06-01
    days on market $1,479,900 Active 25 DOM
15. 2026-05-31
    days on market $1,479,900 Active 24 DOM
16. 2026-05-07
    listed $1,479,900 Active 742-char remark

    Show marketing remark (742 chars)

    Discover an exceptional investment opportunity in the heart of Dayton with this impressive 24-unit multifamily property featuring both 410 & 420 Cherrywood Ave. Tucked away in a private, well-maintained setting, these two buildings surround a beautifully kept shared courtyard and spacious parking area, creating an attractive environment for tenants and owners alike. Residents enjoy desirable amenities including on-site laundry, added security features, and convenient access to major highways, shopping, dining, and downtown Dayton. With strong rental appeal and income potential from day one, this turnkey property is an outstanding opportunity for investors looking to expand their portfolio with a stable, income-producing asset.

17. 2026-03-31
    historical
18. 2025-10-21
    listed $1,680,000 Active
19. 2024-06-04
    soldstatus $565,000
20. 2024-05-15
    historical
21. 2024-05-14
    soldstatus $560,000 Closed
22. 2024-05-14
    soldstatus $560,000 Sold
23. 2024-05-14
    listed $560,000
24. 2018-10-29
    historical
25. 2018-09-26
    status Active
26. 2018-09-18
    historical Active/Pending
27. 2018-09-12
    status Active
28. 2018-09-10
    historical Active/Pending
29. 2018-08-24
    listed $352,000 Active
30. 2017-03-10
    soldstatus $160,000
31. 2013-11-20
    soldstatus $150,000
32. 2012-09-19
    historical
33. 2011-07-14
    listed $199,000
34. 2007-07-06
    soldstatus $169,200
35. 2007-07-06
    soldstatus $220,000
36. 1996-05-17
    soldstatus $221,000
37. 1991-07-02
    soldstatus $225,000

ⓘ 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: $8,525 · $710/mo
• Projected year-2 tax: $15,806 · $1,317/mo
• Expected delta: +$7,281/yr (+$607/mo · 85.4%)

ⓘ 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 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 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $344,772
• − Mortgage interest: −$82,897
• − Property taxes: −$8,525
• − Insurance: −$7,400
• − Repairs & maintenance: −$27,582
• − Management: −$27,582
• − Depreciation: −$43,052
• Taxable income: $147,735
• Est. tax owed @ 24.0%: −$35,456
• After-tax cash flow: $127,860/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): 13,608
• Household income: $38,323
• Rent vs Own: 60.0% rent · 40.0% own
• Severe rent burden: 1071.0

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 (66%)
• Race & ethnicity: White 66% Hispanic / Latino 15% Black 14% Two or more races 8% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 13% 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: ▼ -17.40%
• Current HPI: 447.4034
• Rent YoY: ▲ 3.71%
• 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

+557.7% since first listed

22 events — show timeline

• 2026-05-07 Listed $1,479,900 Dayton MLS
• 2026-03-31 Listing Removed — Dayton MLS
• 2025-10-21 Listed $1,680,000 Dayton MLS
• 2024-06-04 Sold (Public Records) $565,000 Public Records
• 2024-05-15 Listing Removed — Dayton MLS
• 2024-05-14 Listed $560,000 Dayton MLS
• 2024-05-14 Sold (MLS) $560,000 Dayton MLS
• 2024-05-14 Sold (MLS) $560,000 Dayton MLS
• 2018-10-29 Listing Removed — Dayton MLS
• 2018-09-26 Relisted — Dayton MLS
• 2018-09-18 Contingent — Dayton MLS
• 2018-09-12 Relisted — Dayton MLS
• 2018-09-10 Contingent — Dayton MLS
• 2018-08-24 Listed $352,000 Dayton MLS
• 2017-03-10 Sold (Public Records) $160,000 Public Records
• 2013-11-20 Sold (Public Records) $150,000 Public Records
• 2012-09-19 Listing Removed — Dayton MLS
• 2011-07-14 Listed $199,000 Dayton MLS
• 2007-07-06 Sold (Public Records) $220,000 Public Records
• 2007-07-06 Sold (Public Records) $169,200 Public Records
• 1996-05-17 Sold (Public Records) $221,000 Public Records
• 1991-07-02 Sold (Public Records) $225,000 Public Records

Property tax history

-3.7%/yr

Latest (2025): $8,525 · -1.0% YoY. Source: county tax records.