423 Briarwood Ave · Dayton, OH 45403

$595,000

100 bd · 1.0 ba · 6,384 sqft · MultiFamily public records · 8 Days on market

Built 1972 0.49 ac lot

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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: 10 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

Solid brick 10-unit building in the heart of Dayton. A prime opportunity for investors looking to grow or scale their portfolio in the Gem City. This property is ready for a new owner to reposition and unlock its full potential. The current ownership has already taken care of two major capital improvements: the roof was replaced just 4 years ago, and the entire sewer line was professionally replaced all the way out to the street in 2025. With strong bones and critical updates completed, this asset is positioned for the next investor to bring vision, value, and maximize returns. Dayton’s multifamily market continues to thrive, and opportunities like this don’t come around often.

Key facts

• Sewer line replaced
• Brick building
• Capital improvements

Tags

• BRICK BUILDING
• CAPITAL IMPROVEMENTS
• ROOF REPLACED
• SEWER LINE REPLACED
• INCOME-PRODUCING PROPERTY

Property features AI

Finance

• Financial info: Gross income reported at $84,000; Property offered for sale

Exterior

• Parking: No garage; parking lot available
• Utilities: Public water available
• Home design: Three-story building; Single building containing all units
• Construction: Brick construction; Slab foundation
• Exterior features: Residential zoning; Lot dimensions approximately 143 x 43; Lot area about 0.49 acres

Interior

• Bedrooms: Ten one-bedroom units
• Bathrooms: Ten full bathrooms
• Interior features: Window air conditioning units; Baseboard heating
• Laundry & utility: Tenants pay electricity and heat

What this means for you Summary

Snapshot

• This is a 10 × 10-bed/10.0-bath units multifamily listed at $595k.

Deal economics

• At list price, monthly cash flow is $7k ($78k/yr) — positive. Per door: $651/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $595k).
• Cap rate 19.4% 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 (+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 $13,477/mo this rent would consume 422% 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 $4k of loan paydown is wiped out by about $18k 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 $167k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 3y 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 $216k; list at $595k implies a 175% gain — meaningful room to come down on a strong offer.

Recommended offer $595,000

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 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.27% ✓
• Cap rate: 19.43%
• Cash-on-cash: 46.91%
• DSCR: 3.09
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 45.1%
• Equity multiple: 2.97×
• Total profit: $328,284
• Equity at exit: $88,716

10-year hold

• IRR: 51.3%
• Equity multiple: 6.17×
• Total profit: $861,215
• Equity at exit: $51,445

Cash invested: $166,600 (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: 36.8×

Monthly cashflow live

• Estimated rent: $13,477 medium
• Mortgage (P&I): −$3,120
• Tax from tax record: −$766 /mo · $9,193/yr
• Insurance: −$248
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,830
• Net cashflow: $6,513

Break-even live

Break-even rent $5,233

Max offer price $595,000

Occupancy floor 47%

Sensitivity live

Price	-10% $6,849	-5% $6,681	+0% $6,513	+5% $6,344	+10% $6,176
Rent	-10% $5,448	-5% $5,980	+0% $6,513	+5% $7,045	+10% $7,577
Rate	-1.0pp $6,812	-0.5pp $6,664	base $6,513	+0.5pp $6,358	+1.0pp $6,202

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

Units	Beds	Baths	Est. rent
▸ 10× units	10	10	$13,480
Total (10 units)			$13,477

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: $148,750
• Closing costs: $17,850
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $595,000 Active 8 DOM
2. 2026-06-17
   days on market $595,000 Active 7 DOM
3. 2026-06-16
   days on market $595,000 Active 6 DOM
4. 2026-06-15
   days on market $595,000 Active 5 DOM
5. 2026-06-14
   days on market $595,000 Active 3 DOM
6. 2026-06-13
   remarks 687-char remark
7. 2026-06-13
   listed $595,000 Active 2 DOM

ⓘ 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: $9,193 · $766/mo
• Projected year-2 tax: $9,238 · $770/mo
• Expected delta: +$44/yr (+$4/mo · 0.5%)

ⓘ 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: $161,724
• − Mortgage interest: −$33,329
• − Property taxes: −$9,193
• − Insurance: −$2,975
• − Repairs & maintenance: −$12,938
• − Management: −$12,938
• − Depreciation: −$17,309
• Taxable income: $73,041
• Est. tax owed @ 24.0%: −$17,530
• After-tax cash flow: $60,621/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

+155.4% since first listed

27 events — show timeline

• 2026-06-10 Listed $595,000 Dayton MLS
• 2026-02-18 Listing Removed — Dayton MLS
• 2026-02-04 Price Changed $639,000 Dayton MLS
• 2025-09-18 Listed $649,000 Dayton MLS
• 2025-05-21 Rental Removed $725 LEASESTAR
• 2025-04-10 Listed for Rent $725 LEASESTAR
• 2025-04-09 Rental Removed $725 LEASESTAR
• 2025-01-31 Listed for Rent $725 LEASESTAR
• 2024-08-23 Rental Removed $725 LEASESTAR
• 2024-06-12 Listed for Rent $725 LEASESTAR
• 2024-05-30 Rental Removed $725 LEASESTAR
• 2024-05-25 Listed for Rent $725 LEASESTAR
• 2024-03-13 Rental Removed $725 LEASESTAR
• 2024-02-29 Listed for Rent $725 LEASESTAR
• 2023-12-15 Rental Removed $750 LEASESTAR
• 2023-12-14 Listed for Rent $750 LEASESTAR
• 2023-11-08 Rental Removed $750 LEASESTAR
• 2023-11-08 Listed for Rent $750 LEASESTAR
• 2020-09-29 Sold (Public Records) $216,000 Public Records
• 2009-12-10 Sold (Public Records) $178,500 Public Records
• 2009-04-03 Sold (Public Records) $115,800 Public Records
• 2007-12-21 Sold (Public Records) $177,500 Public Records
• 2005-08-17 Sold (Public Records) $210,000 Public Records
• 1995-01-17 Sold (Public Records) $241,000 Public Records
• 1995-01-12 Sold (Public Records) $241,000 Public Records
• 1992-01-07 Sold (Public Records) $202,200 Public Records
• 1986-03-03 Sold (Public Records) $233,000 Public Records

Property tax history

-1.4%/yr

Latest (2025): $9,193 · -1.0% YoY. Source: county tax records.