445 Hunter Ave · Dayton, OH 45404

$500,000

84 bd · 2.0 ba · 4,560 sqft · MultiFamily public records · 68 Days on market

Built 1968 0.42 ac lot $110/sqft · 75% 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
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• 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: 7 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

Seize this exceptional opportunity to acquire a strategically located 7-unit multifamily property featuring 12 bedrooms and 7 full bathrooms, masterfully configured for maximum income efficiency through smart, versatile layouts that consistently attract dependable tenants—from workforce renters and professionals to families seeking Dayton's unbeatable affordability and job stability. Fully remodeled and move-in ready, every unit has been thoughtfully updated to modern standards, delivering immediate appeal and minimizing future capex for the new owner. This turnkey gem is primed for long-term, reliable cash flow in one of Ohio's most resilient and investor-friendly rental markets. Positioned in a high-demand Dayton neighborhood with easy access to highways, downtown amenities, parks, and key employment hubs, this durable, low-maintenance building features separate utilities, on-site laundry, off-street parking, and separate entrances—ensuring smooth operations and high tenant retention. Ideal for savvy investors pursuing 1031 exchanges, portfolio diversification, or hands-on ownership in a market that rewards established, renovated properties amid moderating new supply and sustained fundamentals. Properties like this—fully updated, cash-flow positive, and strategically located—move quickly in Dayton's competitive investment landscape. All leases, income statements and rent roll can be provided as requested from the listing agent.

Key facts

• Move-in ready
• Fully remodeled
• Thoughtfully updated

Tags

• FULLY REMODELED
• MOVE-IN READY
• THOUGHTFULLY UPDATED
• HIGH-DEMAND NEIGHBORHOOD
• EASY ACCESS TO HIGHWAYS
• ON-SITE LAUNDRY

What this means for you Summary

Snapshot

• This is a 7 × 12-bed/7.0-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $4k ($51k/yr) — positive. Per door: $608/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $500k).
• Recommended offer: $470k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.5% 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: 66 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 $10,391/mo this rent would consume 321% of the median local household income ($39k/yr) (locally 702% 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 $15k 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 $140k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($470k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 9y ago; this cycle's ask has dropped $85k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $433k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price.

Recommended offer $470,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 2.08% ✓
• Cap rate: 16.51%
• Cash-on-cash: 36.47%
• DSCR: 2.62
• GRM: 4.0

CMA / ARV

• ARV (median comp): $285,000
• List price: $500,000
• Delta: 75.44%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 32.3%
• Equity multiple: 2.36×
• Total profit: $190,460
• Equity at exit: $74,552

10-year hold

• IRR: 39.4%
• Equity multiple: 4.69×
• Total profit: $516,710
• Equity at exit: $43,231

Cash invested: $140,000 (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 45404

• Home prices YoY: -24.2%
• Active inventory: 66
• Price-to-rent: 28.1×

Monthly cashflow live

• Estimated rent: $10,391 medium
• Mortgage (P&I): −$2,622
• Tax from tax record: −$1,123 /mo · $13,479/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,182
• Net cashflow: $4,255

Break-even live

Break-even rent $5,005

Max offer price $500,000

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 7× units	12	7	$10,388
Total (7 units)			$10,391

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $500,000 Active 68 DOM
2. 2026-06-17
   days on market $500,000 Active 67 DOM
3. 2026-06-16
   days on market $500,000 Active 66 DOM
4. 2026-06-15
   days on market $500,000 Active 65 DOM
5. 2026-06-14
   days on market $500,000 Active 63 DOM
6. 2026-06-13
   days on market $500,000 Active 62 DOM
7. 2026-06-10
   days on market $500,000 Active 60 DOM
8. 2026-06-09
   days on market $500,000 Active 59 DOM
9. 2026-06-08
   days on market $500,000 Active 58 DOM
10. 2026-06-07
    days on market $500,000 Active 57 DOM
11. 2026-06-05
    days on market $500,000 Active 54 DOM
12. 2026-06-03
    days on market $500,000 Active 53 DOM
13. 2026-06-02
    days on market $500,000 Active 52 DOM
14. 2026-06-01
    days on market $500,000 Active 51 DOM
15. 2026-05-31
    days on market $500,000 Active 50 DOM
16. 2026-05-19
    price $525,000 1477-char remark

    Show marketing remark (1477 chars)

    Seize this exceptional opportunity to acquire a strategically located 7-unit multifamily property featuring 12 bedrooms and 7 full bathrooms, masterfully configured for maximum income efficiency through smart, versatile layouts that consistently attract dependable tenants—from workforce renters and professionals to families seeking Dayton's unbeatable affordability and job stability. Fully remodeled and move-in ready, every unit has been thoughtfully updated to modern standards, delivering immediate appeal and minimizing future capex for the new owner. This turnkey gem is primed for long-term, reliable cash flow in one of Ohio's most resilient and investor-friendly rental markets. Positioned in a high-demand Dayton neighborhood with easy access to highways, downtown amenities, parks, and key employment hubs, this durable, low-maintenance building features separate utilities, on-site laundry, off-street parking, and separate entrances—ensuring smooth operations and high tenant retention. Ideal for savvy investors pursuing 1031 exchanges, portfolio diversification, or hands-on ownership in a market that rewards established, renovated properties amid moderating new supply and sustained fundamentals. Properties like this—fully updated, cash-flow positive, and strategically located—move quickly in Dayton's competitive investment landscape. All leases, income statements and rent roll can be provided as requested from the listing agent.

17. 2026-04-23
    price $550,000 1477-char remark

    Show marketing remark (1477 chars)

    Seize this exceptional opportunity to acquire a strategically located 7-unit multifamily property featuring 12 bedrooms and 7 full bathrooms, masterfully configured for maximum income efficiency through smart, versatile layouts that consistently attract dependable tenants—from workforce renters and professionals to families seeking Dayton's unbeatable affordability and job stability. Fully remodeled and move-in ready, every unit has been thoughtfully updated to modern standards, delivering immediate appeal and minimizing future capex for the new owner. This turnkey gem is primed for long-term, reliable cash flow in one of Ohio's most resilient and investor-friendly rental markets. Positioned in a high-demand Dayton neighborhood with easy access to highways, downtown amenities, parks, and key employment hubs, this durable, low-maintenance building features separate utilities, on-site laundry, off-street parking, and separate entrances—ensuring smooth operations and high tenant retention. Ideal for savvy investors pursuing 1031 exchanges, portfolio diversification, or hands-on ownership in a market that rewards established, renovated properties amid moderating new supply and sustained fundamentals. Properties like this—fully updated, cash-flow positive, and strategically located—move quickly in Dayton's competitive investment landscape. All leases, income statements and rent roll can be provided as requested from the listing agent.

18. 2026-04-10
    listed $585,000 Active 1477-char remark

    Show marketing remark (1477 chars)

    Seize this exceptional opportunity to acquire a strategically located 7-unit multifamily property featuring 12 bedrooms and 7 full bathrooms, masterfully configured for maximum income efficiency through smart, versatile layouts that consistently attract dependable tenants—from workforce renters and professionals to families seeking Dayton's unbeatable affordability and job stability. Fully remodeled and move-in ready, every unit has been thoughtfully updated to modern standards, delivering immediate appeal and minimizing future capex for the new owner. This turnkey gem is primed for long-term, reliable cash flow in one of Ohio's most resilient and investor-friendly rental markets. Positioned in a high-demand Dayton neighborhood with easy access to highways, downtown amenities, parks, and key employment hubs, this durable, low-maintenance building features separate utilities, on-site laundry, off-street parking, and separate entrances—ensuring smooth operations and high tenant retention. Ideal for savvy investors pursuing 1031 exchanges, portfolio diversification, or hands-on ownership in a market that rewards established, renovated properties amid moderating new supply and sustained fundamentals. Properties like this—fully updated, cash-flow positive, and strategically located—move quickly in Dayton's competitive investment landscape. All leases, income statements and rent roll can be provided as requested from the listing agent.

19. 2025-03-24
    soldstatus $433,000
20. 2025-03-24
    soldstatus $433,000
21. 2024-08-07
    historical $700
22. 2024-07-30
    listed $700
23. 2024-02-20
    historical
24. 2023-12-02
    historical $650
25. 2023-11-10
    status Active
26. 2023-10-08
    listed $650
27. 2023-10-05
    historical Active/Pending
28. 2023-10-01
    historical $650
29. 2023-09-21
    listed $424,000 Active
30. 2023-09-01
    price $650
31. 2023-08-29
    listed $745
32. 2023-08-20
    historical $745
33. 2023-08-19
    listed $745
34. 2021-10-01
    soldstatus $280,000 Sold
35. 2021-10-01
    soldstatus $280,000 Closed
36. 2021-07-30
    status Pending
37. 2021-07-06
    listed $325,000 Active
38. 2019-07-22
    soldstatus $200,000
39. 2019-07-15
    soldstatus $200,000 Closed
40. 2019-07-15
    soldstatus $200,000 Sold
41. 2019-05-28
    status Pending
42. 2019-05-08
    listed $209,900 Active
43. 2017-05-23
    soldstatus $120,000
44. 2017-05-01
    soldstatus $120,000 Closed
45. 2017-05-01
    soldstatus $120,000 Sold
46. 2017-03-31
    historical Active/Pending
47. 2017-01-28
    listed $139,900 Active
48. 2004-10-18
    soldstatus $139,900
49. 1998-08-04
    soldstatus $152,500
50. 1989-07-03
    soldstatus $110,000

ⓘ 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: $13,479 · $1,123/mo
• Projected year-2 tax: $13,479 · $1,123/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $124,692
• − Mortgage interest: −$28,008
• − Property taxes: −$13,479
• − Insurance: −$2,500
• − Repairs & maintenance: −$9,975
• − Management: −$9,975
• − Depreciation: −$14,545
• Taxable income: $46,209
• Est. tax owed @ 24.0%: −$11,090
• After-tax cash flow: $39,973/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): 9,826
• Household income: $38,874
• Rent vs Own: 55.9% rent · 44.1% own
• Severe rent burden: 702.0

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 (70%)
• Race & ethnicity: White 70% Black 19% Two or more races 7% Hispanic / Latino 4% Asian 1%
• Common ancestry: Iranian 3% Slovak 2% Serbian 1%
• Foreign-born: 9% · Canada
• Languages at home: 88% English-only · Spanish 4% Arabic 4% Other Asian/Pacific 3%

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: ▼ -67.48%
• Current HPI: 210.9571
• 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

+377.3% since first listed

35 events — show timeline

• 2026-05-19 Price Changed $525,000 Dayton MLS
• 2026-04-23 Price Changed $550,000 Dayton MLS
• 2026-04-10 Listed $585,000 Dayton MLS
• 2025-03-24 Sold (Public Records) $433,000 Public Records
• 2025-03-24 Sold (Public Records) $433,000 Public Records
• 2024-08-07 Rental Removed $700 RENT.
• 2024-07-30 Listed for Rent $700 RENT.
• 2024-02-20 Listing Removed — Dayton MLS
• 2023-12-02 Rental Removed $650 APPFOLIO
• 2023-11-10 Relisted — Dayton MLS
• 2023-10-08 Listed for Rent $650 APPFOLIO
• 2023-10-05 Contingent — Dayton MLS
• 2023-10-01 Rental Removed $650 APPFOLIO
• 2023-09-21 Listed $424,000 Dayton MLS
• 2023-09-01 Price Changed $650 APPFOLIO
• 2023-08-29 Listed for Rent $745 APPFOLIO
• 2023-08-20 Rental Removed $745 APPFOLIO
• 2023-08-19 Listed for Rent $745 APPFOLIO
• 2021-10-01 Sold (MLS) $280,000 Dayton MLS
• 2021-10-01 Sold (MLS) $280,000 Dayton MLS
• 2021-07-30 Pending — Dayton MLS
• 2021-07-06 Listed $325,000 Dayton MLS
• 2019-07-22 Sold (Public Records) $200,000 Public Records
• 2019-07-15 Sold (MLS) $200,000 Dayton MLS
• 2019-07-15 Sold (MLS) $200,000 Dayton MLS
• 2019-05-28 Pending — Dayton MLS
• 2019-05-08 Listed $209,900 Dayton MLS
• 2017-05-23 Sold (Public Records) $120,000 Public Records
• 2017-05-01 Sold (MLS) $120,000 Dayton MLS
• 2017-05-01 Sold (MLS) $120,000 Dayton MLS
• 2017-03-31 Contingent — Dayton MLS
• 2017-01-28 Listed $139,900 Dayton MLS
• 2004-10-18 Sold (Public Records) $139,900 Public Records
• 1998-08-04 Sold (Public Records) $152,500 Public Records
• 1989-07-03 Sold (Public Records) $110,000 Public Records

Property tax history

+6.3%/yr

Latest (2025): $13,479 · -1.0% YoY. Source: county tax records.