901 Harvard Blvd · Dayton, OH 45406

$99,000

4 bd · 3.5 ba · 3,885 sqft · MultiFamily public records · 66 Days on market

Built 1912 7,405 sqft lot $25/sqft · 56% below 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 +3.3/5.0
• 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: 1 unit. 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

Bring your imagination to this HUGE home. There are 4 large bedrooms and 3 full baths with an additional half bath on the 1st floor. 2nd floor laundry. Two bedrooms have an ensuite bath. Roof is new. Brand new exterior siding, new roof, new gutter system. Front porch has been repaired with new concrete steps and railings. All new Exterior doors have been installed. Can be sold individually or in a PACKAGE with 3 other properties. This could be a great project since all 4 properties are within 2 blocks of each other. This property is owned by Montgomery County Land Bank. Please Note: All properties currently owned by potential buyers must be current for a minimum of 2 years on their taxes and all nuisance violations on those properties must have been addressed. (Information provided by seller and public record. Room sizes approximate. Please rely on own inspections. )

Key facts

• Repaired front porch
• New concrete steps
• New gutter system

Tags

• NEW ROOF
• NEW EXTERIOR SIDING
• NEW GUTTER SYSTEM
• REPAIRED FRONT PORCH
• NEW CONCRETE STEPS
• NEW RAILINGS

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath multifamily listed at $99k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $93k (6.0% below list) — sets the bar for market timing.
• Cap rate 20.1% vs local median 7.3% 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: amenities C-, crime F, commute 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.
• Zoned schools: River'S Edge Montessori Elementary School (math 22% / reading 32%, grade F, #1,193 of 1,584 statewide, top 76%, 494 students, 0% FRL); Wogaman Middle School (math 8% / reading 12%, grade F, #645 of 654 statewide, top 99%, 364 students, 0% FRL); Belmont High School (math 5% / reading 20%, grade F, #720 of 781 statewide, top 93%, 1,100 students, 0% FRL) — zoned schools average 0% FRL vs 74% district-wide (74 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.0%/yr); 156 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 $2,339/mo this rent would consume 67% of the median local household income ($42k/yr) (locally 1504% 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 $684 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $78k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1912 — 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: 2.36% ✓
• Cap rate: 20.09%
• Cash-on-cash: 49.28%
• DSCR: 3.19
• GRM: 3.5

CMA / ARV

• ARV (median comp): $224,170
• List price: $99,000
• Delta: -55.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
113 Niagara Ave	0.49mi	4/4.0	3,888 (+0%)	12mo	$227,000	$58	65
940 Old Orchard Ave	0.36mi	5/5.0 (+1)	3,741 (-4%)	4mo	$269,900	$72	63
1019 Old Orchard Ave	0.33mi	4/4.0	3,480 (-10%)	4mo	$195,000	$56	62
15 Ridge Ave	0.61mi	4/4.0	4,032 (+4%)	24mo	$213,900	$53	43
125 Niagara Ave	0.49mi	4/4.0	4,410 (+14%)	17mo	$160,000	$36	39
166 Niagara Ave	0.47mi	4/1.0	4,404 (+13%)	13mo	$10,000	$2	35

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 · 3.03% rent growth · sell at horizon

5-year hold

• IRR: 46.9%
• Equity multiple: 3.04×
• Total profit: $56,579
• Equity at exit: $14,761

10-year hold

• IRR: 52.7%
• Equity multiple: 6.16×
• Total profit: $143,120
• Equity at exit: $8,560

Cash invested: $27,720 (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 45406

• Rents YoY: 3.0%
• Active inventory: 156
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,339 high
• Mortgage (P&I): −$519
• Tax from tax record: −$149 /mo · $1,789/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $1,138

Break-even live

Break-even rent $898

Max offer price $99,000

Occupancy floor 46%

Sensitivity live

Price	-10% $1,194	-5% $1,166	+0% $1,138	+5% $1,110	+10% $1,082
Rent	-10% $954	-5% $1,046	+0% $1,138	+5% $1,231	+10% $1,323
Rate	-1.0pp $1,188	-0.5pp $1,163	base $1,138	+0.5pp $1,113	+1.0pp $1,087

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,340
Total (2 units)			$2,339

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-22
   days on market $99,000 Active 66 DOM
2. 2026-06-18
   days on market $99,000 Active 63 DOM
3. 2026-06-17
   days on market $99,000 Active 62 DOM
4. 2026-06-16
   days on market $99,000 Active 61 DOM
5. 2026-06-15
   days on market $99,000 Active 60 DOM
6. 2026-06-14
   days on market $99,000 Active 58 DOM
7. 2026-06-13
   days on market $99,000 Active 57 DOM
8. 2026-06-10
   days on market $99,000 Active 55 DOM
9. 2026-06-09
   days on market $99,000 Active 54 DOM
10. 2026-06-08
    days on market $99,000 Active 53 DOM
11. 2026-06-07
    days on market $99,000 Active 52 DOM
12. 2026-06-05
    days on market $99,000 Active 49 DOM
13. 2026-06-03
    days on market $99,000 Active 48 DOM
14. 2026-06-02
    days on market $99,000 Active 47 DOM
15. 2026-06-01
    days on market $99,000 Active 46 DOM
16. 2026-05-31
    days on market $99,000 Active 45 DOM
17. 2026-03-02
    listed $105,000 Active 880-char remark

    Show marketing remark (880 chars)

    Bring your imagination to this HUGE home. There are 4 large bedrooms and 3 full baths with an additional half bath on the 1st floor. 2nd floor laundry. Two bedrooms have an ensuite bath. Roof is new. Brand new exterior siding, new roof, new gutter system. Front porch has been repaired with new concrete steps and railings. All new Exterior doors have been installed. Can be sold individually or in a PACKAGE with 3 other properties. This could be a great project since all 4 properties are within 2 blocks of each other. This property is owned by Montgomery County Land Bank. Please Note: All properties currently owned by potential buyers must be current for a minimum of 2 years on their taxes and all nuisance violations on those properties must have been addressed. (Information provided by seller and public record. Room sizes approximate. Please rely on own inspections. )

18. 2020-04-24
    historical
19. 2019-11-01
    historical Active/Pending
20. 2019-10-25
    listed $22,000 Active
21. 2019-06-26
    historical
22. 2018-12-28
    listed $35,000 Active
23. 2018-12-18
    historical
24. 2018-09-06
    listed $35,000 Active
25. 2003-04-07
    soldstatus $78,000

ⓘ 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: $1,789 · $149/mo
• Projected year-2 tax: $1,789 · $149/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ 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 ≥102°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: $28,068
• − Mortgage interest: −$5,546
• − Property taxes: −$1,789
• − Insurance: −$495
• − Repairs & maintenance: −$2,245
• − Management: −$2,245
• − Depreciation: −$2,880
• Taxable income: $12,868
• Est. tax owed @ 24.0%: −$3,088
• After-tax cash flow: $10,572/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): 19,991
• Household income: $41,796
• Rent vs Own: 52.9% rent · 47.1% own
• Severe rent burden: 1504.0

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 Black (75%)
• Race & ethnicity: Black 75% White 16% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 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: ▼ -113.75%
• Current HPI: 197.1302
• Rent YoY: ▲ 3.03%
• 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

+34.6% since first listed

9 events — show timeline

• 2026-03-02 Listed $105,000 Dayton MLS
• 2020-04-24 Listing Removed — Dayton MLS
• 2019-11-01 Contingent — Dayton MLS
• 2019-10-25 Listed $22,000 Dayton MLS
• 2019-06-26 Listing Removed — Dayton MLS
• 2018-12-28 Listed $35,000 Dayton MLS
• 2018-12-18 Listing Removed — Dayton MLS
• 2018-09-06 Listed $35,000 Dayton MLS
• 2003-04-07 Sold (Public Records) $78,000 Public Records

Property tax history

-0.8%/yr

Latest (2025): $1,789 · -1.9% YoY. Source: county tax records.