4432 Renwood Dr · Kettering, OH 45429

$574,969

8 bd · 5.0 ba · 3,454 sqft · MultiFamily public records · 109 Days on market

Built 1974 0.28 ac lot $166/sqft · 50% above area Est $385k · 50% over

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Why this score? — see what drove the D 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 +17.1/30.0
• DSCR +5.3/10.0
• Schools +5.2/10.0
• 1% rule +4.5/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 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: 3 units. confirmed

Listing remarks MLS

Calling all entrepreneurs, side-hustlers, and future short-term rental moguls! Here’s your chance to own a fully set-up income property and jump straight into the STR game without starting from scratch. This two-unit double located in Kettering Schools can be operated as a successful AirBNB & VRBO short-term rental and can be purchased ready to roll—perfect for anyone dreaming of running their own Airbnb business! Just bring your ambition and your booking app! Each side offers 3 levels of living space with 4 bedrooms and 2.5 baths, making it ideal for hosting larger groups and maximizing rental potential. Both units feature brand new kitchens, updated baths, and stylish spaces guests will love. The partially finished lower level adds extra room for guests to spread out, while the rear balcony provides the perfect spot for morning coffee or evening relaxation. Outside you'll find a 2-car garage plus private off-street parking, and the home sits in a quiet community directly across from Alter High School—a convenient location that guests appreciate. Ever said, “I should start an Airbnb someday?” Well… someday just showed up. This turnkey property lets you skip the setup and start collecting bookings. Whether you're looking to expand your investment portfolio or launch your first STR venture, this opportunity checks all the boxes! Call today for your personal tour!

Key facts

• Airbnb and vrbo
• Two-unit double
• Updated baths

Tags

• FULLY SET-UP
• AIRBNB AND VRBO
• TWO-UNIT DOUBLE
• BRAND NEW KITCHENS
• UPDATED BATHS
• PARTIALLY FINISHED LOWER LEVEL

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $575k.

Deal economics

• At list price, monthly cash flow is $404 ($5k/yr) — positive. Per door: $135/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $544k (5.4% below list).
• Recommended offer: $523k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 4.4% in Kettering — 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 83/100 on livability (#61 in OH, #922 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Kettering City School District (suburban): math 54% / reading 68% proficiency, ranked #277 of 656 in OH (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Kettering Fairmont High School (math 49% / reading 75%, grade B-, #202 of 781 statewide, top 29%, 2,486 students, 32% FRL) — zoned schools at 32% FRL track the district average.
• Market conditions: 82 active listings in the ZIP; solid renter incomes; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $5,437/mo this rent would consume 81% of the median local household income ($80k/yr) (locally 889% 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 $17k 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.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($523k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $392k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $523,221 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% 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 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.95% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.01%
• DSCR: 1.13
• GRM: 8.8

CMA / ARV

• ARV (median comp): $384,538
• List price: $574,969
• Delta: 49.52%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.5%
• Equity multiple: 0.58×
• Total profit: $-67,429
• Equity at exit: $85,730

10-year hold

• IRR: -2.3%
• Equity multiple: 0.84×
• Total profit: $-25,483
• Equity at exit: $49,713

Cash invested: $160,991 (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 45429

• Active inventory: 82
• Price-to-rent: 26.4×

Monthly cashflow live

• Estimated rent: $5,437 high
• Mortgage (P&I): −$3,015
• Tax from tax record: −$637 /mo · $7,642/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,142
• Net cashflow: $404

Break-even live

Break-even rent $4,926

Max offer price $574,969

Occupancy floor 88%

Sensitivity live

Price	-10% $729	-5% $566	+0% $404	+5% $241	+10% $78
Rent	-10% $-26	-5% $189	+0% $404	+5% $618	+10% $833
Rate	-1.0pp $693	-0.5pp $550	base $404	+0.5pp $255	+1.0pp $103

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$5,436
Total (3 units)			$5,437

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: $143,742
• Closing costs: $17,249
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-21
   days on market $574,969 Active 109 DOM
2. 2026-06-18
   days on market $574,969 Active 106 DOM
3. 2026-06-17
   days on market $574,969 Active 105 DOM
4. 2026-06-16
   days on market $574,969 Active 104 DOM
5. 2026-06-15
   days on market $574,969 Active 103 DOM
6. 2026-06-14
   days on market $574,969 Active 101 DOM
7. 2026-06-13
   days on market $574,969 Active 100 DOM
8. 2026-06-10
   days on market $574,969 Active 98 DOM
9. 2026-06-09
   days on market $574,969 Active 97 DOM
10. 2026-06-08
    days on market $574,969 Active 96 DOM
11. 2026-06-07
    days on market $574,969 Active 95 DOM
12. 2026-06-05
    days on market $574,969 Active 92 DOM
13. 2026-06-03
    days on market $574,969 Active 91 DOM
14. 2026-06-02
    days on market $574,969 Active 90 DOM
15. 2026-06-01
    days on market $574,969 Active 89 DOM
16. 2026-05-31
    days on market $574,969 Active 88 DOM
17. 2026-04-03
    price $574,969 1428-char remark

    Show marketing remark (1428 chars)

    Calling all entrepreneurs, side-hustlers, and future short-term rental moguls! Here’s your chance to own a fully set-up income property and jump straight into the STR game without starting from scratch. This two-unit double located in Kettering Schools can be operated as a successful AirBNB & VRBO short-term rental and can be purchased ready to roll—perfect for anyone dreaming of running their own Airbnb business! Just bring your ambition and your booking app! Each side offers 3 levels of living space with 4 bedrooms and 2.5 baths, making it ideal for hosting larger groups and maximizing rental potential. Both units feature brand new kitchens, updated baths, and stylish spaces guests will love. The partially finished lower level adds extra room for guests to spread out, while the rear balcony provides the perfect spot for morning coffee or evening relaxation. Outside you'll find a 2-car garage plus private off-street parking, and the home sits in a quiet community directly across from Alter High School—a convenient location that guests appreciate. Ever said, “I should start an Airbnb someday?” Well… someday just showed up. This turnkey property lets you skip the setup and start collecting bookings. Whether you're looking to expand your investment portfolio or launch your first STR venture, this opportunity checks all the boxes! Call today for your personal tour!

18. 2026-03-28
    price $578,969 1428-char remark

    Show marketing remark (1428 chars)

    Calling all entrepreneurs, side-hustlers, and future short-term rental moguls! Here’s your chance to own a fully set-up income property and jump straight into the STR game without starting from scratch. This two-unit double located in Kettering Schools can be operated as a successful AirBNB & VRBO short-term rental and can be purchased ready to roll—perfect for anyone dreaming of running their own Airbnb business! Just bring your ambition and your booking app! Each side offers 3 levels of living space with 4 bedrooms and 2.5 baths, making it ideal for hosting larger groups and maximizing rental potential. Both units feature brand new kitchens, updated baths, and stylish spaces guests will love. The partially finished lower level adds extra room for guests to spread out, while the rear balcony provides the perfect spot for morning coffee or evening relaxation. Outside you'll find a 2-car garage plus private off-street parking, and the home sits in a quiet community directly across from Alter High School—a convenient location that guests appreciate. Ever said, “I should start an Airbnb someday?” Well… someday just showed up. This turnkey property lets you skip the setup and start collecting bookings. Whether you're looking to expand your investment portfolio or launch your first STR venture, this opportunity checks all the boxes! Call today for your personal tour!

19. 2026-03-14
    price $598,969 1428-char remark

    Show marketing remark (1428 chars)

    Calling all entrepreneurs, side-hustlers, and future short-term rental moguls! Here’s your chance to own a fully set-up income property and jump straight into the STR game without starting from scratch. This two-unit double located in Kettering Schools can be operated as a successful AirBNB & VRBO short-term rental and can be purchased ready to roll—perfect for anyone dreaming of running their own Airbnb business! Just bring your ambition and your booking app! Each side offers 3 levels of living space with 4 bedrooms and 2.5 baths, making it ideal for hosting larger groups and maximizing rental potential. Both units feature brand new kitchens, updated baths, and stylish spaces guests will love. The partially finished lower level adds extra room for guests to spread out, while the rear balcony provides the perfect spot for morning coffee or evening relaxation. Outside you'll find a 2-car garage plus private off-street parking, and the home sits in a quiet community directly across from Alter High School—a convenient location that guests appreciate. Ever said, “I should start an Airbnb someday?” Well… someday just showed up. This turnkey property lets you skip the setup and start collecting bookings. Whether you're looking to expand your investment portfolio or launch your first STR venture, this opportunity checks all the boxes! Call today for your personal tour!

20. 2026-03-04
    listed $638,969 Active 1428-char remark

    Show marketing remark (1428 chars)

    Calling all entrepreneurs, side-hustlers, and future short-term rental moguls! Here’s your chance to own a fully set-up income property and jump straight into the STR game without starting from scratch. This two-unit double located in Kettering Schools can be operated as a successful AirBNB & VRBO short-term rental and can be purchased ready to roll—perfect for anyone dreaming of running their own Airbnb business! Just bring your ambition and your booking app! Each side offers 3 levels of living space with 4 bedrooms and 2.5 baths, making it ideal for hosting larger groups and maximizing rental potential. Both units feature brand new kitchens, updated baths, and stylish spaces guests will love. The partially finished lower level adds extra room for guests to spread out, while the rear balcony provides the perfect spot for morning coffee or evening relaxation. Outside you'll find a 2-car garage plus private off-street parking, and the home sits in a quiet community directly across from Alter High School—a convenient location that guests appreciate. Ever said, “I should start an Airbnb someday?” Well… someday just showed up. This turnkey property lets you skip the setup and start collecting bookings. Whether you're looking to expand your investment portfolio or launch your first STR venture, this opportunity checks all the boxes! Call today for your personal tour!

21. 2026-01-08
    soldstatus $392,000
22. 2023-06-12
    soldstatus $180,100
23. 2014-09-24
    soldstatus $180,100
24. 2004-09-15
    soldstatus $256,000
25. 1997-09-17
    soldstatus $180,000
26. 1997-09-17
    soldstatus $180,000
27. 1996-05-02
    soldstatus $28,000
28. 1988-09-22
    soldstatus $95,000
29. 1986-01-31
    soldstatus $123,000

ⓘ 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: $7,642 · $637/mo
• Projected year-2 tax: $8,306 · $692/mo
• Expected delta: +$664/yr (+$55/mo · 8.7%)

ⓘ 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 3/10 Moderate 7 d/yr ≥100°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $65,244
• − Mortgage interest: −$32,207
• − Property taxes: −$7,642
• − Insurance: −$2,875
• − Repairs & maintenance: −$5,220
• − Management: −$5,220
• − Depreciation: −$16,726
• Taxable loss: −$4,645
• Est. tax savings @ 24.0%: +$1,115
• After-tax cash flow: $5,959/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: Kettering City School District
• NCES district ID: 3904418
• Math proficiency: 54% ▼ -21.00%
• Reading proficiency: 68% ▼ -9.00%
• Median HH income: $50,353
• Composite: 51.89/100
• National rank: #1653
• State rank: #277 of 656 in OH

Livability — Kettering

• Score: 83/100
• State rank: #61
• US rank: #922

Category grades

Amenities C+ Commute F Cost of living A+ Crime A+ Employment B Housing A+ Health & safety A+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kettering, OH
• County: Montgomery County · 459,541 people
• City population: 73,116
• Metro: Dayton-Kettering, OH
• Population (ZIP): 26,347
• Household income: $80,210
• Rent vs Own: 30.2% rent · 69.8% own
• Severe rent burden: 889.0

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 (86%)
• Race & ethnicity: White 86% Two or more races 5% Black 5% Hispanic / Latino 3% Asian 2%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 95% English-only · Spanish 2% Arabic 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: ▼ -172.24%
• Current HPI: 274.1505
• 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

+367.5% since first listed

13 events — show timeline

• 2026-04-03 Price Changed $574,969 Dayton MLS
• 2026-03-28 Price Changed $578,969 Dayton MLS
• 2026-03-14 Price Changed $598,969 Dayton MLS
• 2026-03-04 Listed $638,969 Dayton MLS
• 2026-01-08 Sold (Public Records) $392,000 Public Records
• 2023-06-12 Sold (Public Records) $180,100 Public Records
• 2014-09-24 Sold (Public Records) $180,100 Public Records
• 2004-09-15 Sold (Public Records) $256,000 Public Records
• 1997-09-17 Sold (Public Records) $180,000 Public Records
• 1997-09-17 Sold (Public Records) $180,000 Public Records
• 1996-05-02 Sold (Public Records) $28,000 Public Records
• 1988-09-22 Sold (Public Records) $95,000 Public Records
• 1986-01-31 Sold (Public Records) $123,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $7,642 · +1.0% YoY. Source: county tax records.