1012 Lorain Ave #1010 · Dayton, OH 45410

$169,000

4 bd · 2.0 ba · 2,112 sqft · MultiFamily · 10 Days on market

Built 1914 Average condition 2,801 sqft lot $80/sqft · 20% above area Est $141k · 20% over

---

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 +28.9/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Rent growth +5.0/5.0
• Livability +3.2/5.0
• Condition / age +2.8/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Turnkey duplex in Dayton’s Linden Heights. Each unit offers 2 beds, 1 bath. Major updates include new roof, furnaces, water heaters, waterproofed basement with sump pump, and glass block windows. Unit 1010 features new upstairs flooring, fresh paint, updated kitchen counters/flooring, and new front/rear screen doors. Unit 1012 offers new flooring throughout, kitchen updates, and newer refrigerator. One unit leased at $750/month; other vacant. Tenants pay all utilities. Major capital improvements completed—minimal future maintenance expected and steady, reliable cash flow. Conveniently located near downtown, parks, and major roadways.

Key facts

• Sump pump
• New water heaters
• Glass block windows

Tags

• NEW ROOF
• NEW FURNACES
• NEW WATER HEATERS
• WATERPROOFED BASEMENT
• SUMP PUMP
• GLASS BLOCK WINDOWS

Property features AI

Finance

• Financial info: Offered for sale; Lease amount listed at $750

Exterior

• Parking: 220-volt outlet in garage
• Utilities: 220 volts available in garage; Natural gas heating
• Home design: Two-story building; Aluminum siding construction
• Construction: Aluminum siding
• Exterior features: Multiple zoning designation; Assessor-listed lot dimensions

Interior

• Bedrooms: Four bedrooms or more; Property contains two units (multi-unit)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units
• Interior features: Finished partial basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $169k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $518 ($6k/yr) — positive. Per door: $259/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Cap rate 10.4% 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; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $2,204/mo this rent would consume 57% of the median local household income ($47k/yr) (locally 961% 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 $1k of loan paydown is wiped out by about $5k 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 $47k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,000

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. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.30% ✓
• Cap rate: 10.36%
• Cash-on-cash: 14.54%
• DSCR: 1.65
• GRM: 6.4

CMA / ARV

• ARV (median comp): $141,209
• List price: $169,000
• Delta: 19.68%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1012 Lorain Ave #1010	0.00mi	4/2.0	2,112 (0%)	16mo	$157,500	$75	87
416 Pleasant Ave	0.63mi	4/2.0	2,184 (+3%)	3mo	$125,000	$57	62
2821 E 5th St #2819	0.69mi	4/2.0	2,128 (+1%)	7mo	$157,000	$74	60
635 Pritz Ave #633	0.20mi	4/2.0	2,356 (+12%)	14mo	$125,000	$53	60
533 Saint Joseph Ave	0.33mi	4/4.0	2,160 (+2%)	19mo	$250,000	$116	57
624-626 Pritz Ave	0.17mi	4/2.0	1,904 (-10%)	23mo	$65,000	$34	56
423 Hulbert St #421	0.47mi	4/2.0	2,012 (-5%)	20mo	$159,900	$79	54
48 Indiana Ave	0.59mi	4/2.0	1,924 (-9%)	11mo	$145,000	$75	48
1104 Huffman Ave	0.47mi	3/2.0 (-1)	1,964 (-7%)	23mo	$138,000	$70	42
1314 Phillips Ave #1312	0.70mi	4/2.0	2,352 (+11%)	15mo	$189,900	$81	35
424-426 Boltin St	0.52mi	5/— (+1)	1,806 (-14%)	19mo	$120,000	$66	31

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: 8.8%
• Equity multiple: 1.37×
• Total profit: $17,302
• Equity at exit: $25,198

10-year hold

• IRR: 22.0%
• Equity multiple: 3.34×
• Total profit: $110,811
• Equity at exit: $14,612

Cash invested: $47,320 (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: 12.8×

Monthly cashflow live

• Estimated rent: $2,204 high
• Mortgage (P&I): −$886
• Tax est. 1.5%: −$211 /mo · $2,535/yr
• Insurance: −$70
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $518

Break-even live

Break-even rent $1,549

Max offer price $169,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,204
Total (2 units)			$2,204

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 21 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	0.37mi
836 Wellmeier Ave Dayton, OH	4.0	1.0	2148	$1,500	$0.70	3d	1	0.39mi
115 Livingston Ave Dayton, OH	3.0	1.0	1624	$1,450	$0.89	44d	1	0.41mi
1515 Wyoming St Dayton, OH	3.0	1.0	1400	$1,000	$0.71	43d	1	0.44mi
438 Clover St Dayton, OH	3.0	2.0	2156	$1,025	$0.48	43d	1	0.82mi
1520 S Smithville Rd Dayton, OH	3.0	2.0	1481	$1,345	$0.91	2d	1	0.88mi
32 Gebhart St Dayton, OH	4.0	1.0	1800	$1,400	$0.78	14d	1	0.88mi
2114 Wayne Ave Dayton, OH	4.0	2.0	1723	$1,595	$0.93	43d	1	0.94mi
2132 Wayne Ave Dayton, OH	3.0	2.0	1484	$1,350	$0.91	2d	1	0.94mi
1603 Manette Pl Dayton, OH	4.0	2.0	2000	$1,695	$0.85	14d	1	1.03mi
244 Quitman St Unit A Dayton, OH	3.0	1.0	1987	$1,325	$0.67	23d	1	1.07mi
534 Beckman St Dayton, OH	3.0	2.0	1452	$1,400	$0.96	2d	1	1.13mi
3707 E 3rd St Unit 3705 Dayton, OH	3.0	1.0	1410	$1,045	$0.74	23d	1	1.16mi
320 Park Dr Dayton, OH	4.0	3.0	2100	$2,400	$1.14	14d	1	1.17mi
228 James St Dayton, OH	3.0	1.0	1700	$1,200	$0.71	43d	1	1.26mi
227 James St Unit 1 Dayton, OH	3.0	1.0	1700	$1,200	$0.71	3d	1	1.27mi
229 James St Unit 228 Dayton, OH	3.0	1.0	1700	$1,200	$0.71	23d	1	1.27mi
4249 Pleasant View Ave Dayton, OH	3.0	2.0	1440	$1,695	$1.18	43d	1	1.35mi
4253 Pleasant View Ave Dayton, OH	3.0	2.0	1440	$1,695	$1.18	43d	1	1.36mi
319 Wyoming St Dayton, OH	4.0	2.5	2064	$2,000	$0.97	2d	1	1.44mi
1112 Irving Ave Dayton, OH	3.0	4.0	2041	$4,500	$2.20	3d	1	1.45mi

Listing history 2 events

1. 2026-05-14
   status Pending 653-char remark
2. 2026-05-04
   listed $169,000 Active 653-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 96% 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 100% 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: $26,448
• − Mortgage interest: −$9,467
• − Property taxes: −$2,535
• − Insurance: −$1,512
• − Repairs & maintenance: −$2,116
• − Management: −$2,116
• − Depreciation: −$4,916
• Taxable income: $3,787
• Est. tax owed @ 24.0%: −$909
• After-tax cash flow: $5,304/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.

Condition & rehab AI · 30 photos

Average 55/100 Moderate rehab

This two-unit property requires moderate renovations to its kitchens and bathrooms, as well as exterior updates. The property is currently turnkey and has steady cash flow, making it a good investment opportunity.

Repairs flagged

• Major Kitchen cabinets — Worn and outdated, need replacement.
• Major Kitchen countertops — Old and outdated, need replacement.
• Major Kitchen appliances — Old and outdated, need replacement.
• Major Bathroom fixtures — Old and outdated, need replacement.
• Major Bathroom decor — Dated and worn, needs updating.
• Moderate Exterior siding — Weathered and some discoloration, needs repainting.
• Moderate Exterior paint — Old and some wear, needs repainting.
• Minor Landscaping — Some overgrown areas, needs trimming and planting.
• Minor Front/rear screen doors — Old and worn, needs replacement or repair.

Value-add opportunities

• Both Kitchen renovation — Modernizing the kitchen will increase both resale and rental value.
• Both Bathroom renovation — Updating the bathrooms will increase both resale and rental value.
• Both Exterior painting and landscaping — A fresh coat of paint and landscaping will improve curb appeal and increase both resale and rental value.
• Rental HVAC maintenance — A well-maintained HVAC system will attract tenants and increase rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn and outdated, need replacement.	Major	$15,000–50,000
Kitchen countertops · Old and outdated, need replacement.	Major	$15,000–50,000
Kitchen appliances · Old and outdated, need replacement.	Major	$15,000–50,000
Bathroom fixtures · Old and outdated, need replacement.	Major	$15,000–50,000
Bathroom decor · Dated and worn, needs updating.	Major	$15,000–50,000
Exterior siding · Weathered and some discoloration, needs repainting.	Moderate	$3,000–15,000
Exterior paint · Old and some wear, needs repainting.	Moderate	$3,000–15,000
Landscaping · Some overgrown areas, needs trimming and planting.	Minor	$500–3,000
Front/rear screen doors · Old and worn, needs replacement or repair.	Minor	$500–3,000
Total estimated repair cost · 9 items		$82,000–286,000

Value-add ROI direction

• Both Kitchen renovation — Modernizing the kitchen will increase both resale and rental value. ↑
• Both Bathroom renovation — Updating the bathrooms will increase both resale and rental value. ↑
• Both Exterior painting and landscaping — A fresh coat of paint and landscaping will improve curb appeal and increase both resale and rental value. ↑
• Rental HVAC maintenance — A well-maintained HVAC system will attract tenants and increase rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

2 events — show timeline

• 2026-05-14 Pending — Dayton MLS
• 2026-05-04 Listed $169,000 Dayton MLS