1236 W First St · Dayton, OH 45402

$1

3 bd · 1.0 ba · 1,677 sqft · SingleFamily public records · 26 Days on market

Built 1890 4,883 sqft 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 +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Court Ordered Sale by Private Selling Officer. Auction ends on June 17, 2026. All information we have on the property is included. We have no additional information, property condition is unknown. NO SHOWINGS, NO trespassing for any reason. Information is thought to be correct but not guaranteed. 10% Buyer Premium added to the high bid, $5,000 deposit is due within 24 hours of bidding end.

Key facts

• 4,883 sq ft lot
• Built 1890
• Listed 26 days

Property features AI

Finance

• Other: Semi-annual taxes listed (amount omitted per instructions); Tax abatement: No
• Financial info: Lease not considered
• HOA & community: No HOA

Exterior

• Utilities: Public water; Public sewer; Natural gas; Other water heating
• Home design: Traditional style single-family home; Two levels; Poured foundation
• Construction: Aluminum siding
• Exterior features: Shingle roof; Aluminum windows

Interior

• Kitchen: Kitchen area approximately 10 x 10; Dining room on level 1 approximately 9 x 9
• Bedrooms: 3 bedrooms; Primary bedroom on level 1 measuring approximately 10 x 10; Bedroom 2 on level 2 measuring approximately 10 x 10; Bedroom 3 on level 2 measuring approximately 10 x 10
• Bathrooms: 1 full bathroom; Primary bathroom with shower
• Heating & cooling: Forced air heating
• Interior features: 7 total rooms; Partial basement

🔨 Auction listing. The $1 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $78,819 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $1.

Deal economics

• At list price, monthly cash flow is $448 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).
• Cap rate 14.0% 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 (+4.0%/yr); 87 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• This rent runs 33% of the median local income ($48k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $545 of loan paydown is wiped out by about $2k 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 + 4.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($0) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 118228.5% of price; flood insurance adds $56/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.68% ✓
• Cap rate: 13.95%
• Cash-on-cash: 27.36%
• DSCR: 2.22
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $78,819
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
445 Dakota St	0.16mi	4/1.5 (+1)	1,700 (+1%)	5mo	$38,200	$22	79
37 Mound St	0.25mi	3/1.5	1,728 (+3%)	5mo	$269,900	$156	77
1151 W Second St	0.10mi	3/1.0	1,563 (-7%)	9mo	$19,030	$12	76
132 Mound St	0.36mi	3/2.5	1,592 (-5%)	2mo	$135,000	$85	67
40 Dayton Ave	0.39mi	3/1.0	1,610 (-4%)	14mo	$60,000	$37	63
63 Mound St	0.28mi	3/3.0	1,848 (+10%)	5mo	$170,000	$92	58
423 S Broadway St	0.53mi	3/1.0	1,816 (+8%)	5mo	$25,000	$14	57
302 Lexington Ave	0.74mi	4/1.5 (+1)	1,658 (-1%)	10mo	$70,000	$42	49
26 Hawthorn St	0.29mi	3/2.5	1,820 (+8%)	22mo	$250,000	$137	48
1540 W 2nd St	0.39mi	4/2.0 (+1)	1,456 (-13%)	8mo	$145,000	$100	45
1331 W Grand Ave	0.72mi	4/1.5 (+1)	1,816 (+8%)	9mo	$40,000	$22	38
47 Leroy St	0.73mi	3/1.0	1,456 (-13%)	9mo	$68,000	$47	37

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 · 3.98% rent growth · sell at horizon

5-year hold

• IRR: 18.9%
• Equity multiple: 1.78×
• Total profit: $17,112
• Equity at exit: $11,752

10-year hold

• IRR: 27.9%
• Equity multiple: 3.60×
• Total profit: $57,359
• Equity at exit: $6,815

Cash invested: $22,069 (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 45402

• Rents YoY: 4.0%
• Active inventory: 87

Monthly cashflow live

• Estimated rent: $1,326 high
• Mortgage (P&I): −$413
• Tax est. 1.5%: −$99 /mo · $1,182/yr
• Insurance: −$33
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $448

Break-even live

Break-even rent $760

Max offer price $78,819

Occupancy floor 61%

Sensitivity live

Price	-10% $502	-5% $475	+0% $448	+5% $420	+10% $393
Rent	-10% $343	-5% $395	+0% $448	+5% $500	+10% $552
Rate	-1.0pp $487	-0.5pp $468	base $448	+0.5pp $427	+1.0pp $406

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: $19,705
• Closing costs: $2,365
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
127 Mound St Dayton, OH	3.0	3.0	1726	$1,600	$0.93	16d	1	0.34mi
848 Riverview Ter Apt 607 Dayton, OH	2.0	1.0	1400	$1,300	$0.93	25d	1	0.42mi
848 Riverview Ter Apt 205 Dayton, OH	2.0	1.0	1100	$1,100	$1.00	16d	1	0.42mi
18 Holt St Unit 24 Dayton, OH	3.0	2.5	1350	$1,450	$1.07	16d	1	0.48mi
See individual Unit addresses Dayton, OH	1.0–2.0	1.0–2.0	928	$2,297	$2.48	46d	10	0.51mi
1011 N Broadway St Dayton, OH	3.0	1.5	1700	$950	$0.56	46d	1	0.66mi
1119 Superior Ave Unit 1119 Dayton, OH	3.0	1.0	1435	$1,350	$0.94	5d	1	0.68mi
47 Leroy St Dayton, OH	3.0	1.0	1456	$1,200	$0.82	46d	1	0.73mi
424 Lexington Ave Dayton, OH	3.0	2.0	1536	$1,025	$0.67	46d	1	0.78mi
515 W Grand Ave Dayton, OH	2.0	2.0	1100	$1,025	$0.93	25d	1	0.85mi
515 W Grand Ave Dayton, OH	2.0	2.0	1100	$1,025	$0.93	5d	1	0.85mi
515 W Grand Ave Dayton, OH	2.0	2.0	1100	$1,025	$0.93	46d	1	0.85mi
40 S Mathison St Dayton, OH	3.0	1.0	1300	$1,200	$0.92	16d	1	0.86mi
42 S Mathison St Dayton, OH	3.0	1.0	1300	$1,220	$0.94	5d	1	0.86mi
905 Neal Ave Dayton, OH	3.0	1.0	1100	$850	$0.77	46d	1	0.89mi
132 Wroe Ave Unit 132 Dayton, OH	3.0	2.5	1934	$1,297	$0.67	46d	1	0.98mi
942 Harvard Blvd Dayton, OH	3.0	2.0	1596	$1,200	$0.75	5d	1	1.00mi
115 W Monument Ave Dayton, OH	1.0–2.0	1.0–2.5	1053	$2,199	$2.09	5d	20	1.00mi
136 Rockwood Ave Dayton, OH	3.0	1.5	1439	$1,200	$0.83	46d	1	1.04mi
138 Rockwood Ave Dayton, OH	3.0	1.5	1439	$1,200	$0.83	25d	1	1.04mi
42 S Ludlow St Dayton, OH	1.0–3.0	1.0–2.0	860	$1,068	$1.24	46d	1	1.06mi
40 W 4th St Dayton, OH	1.0–2.0	1.0–2.0	1118	$2,200	$1.97	46d	7	1.09mi
412 Forest Ave Unit 414 Dayton, OH	3.0	1.5	1200	$1,200	$1.00	46d	1	1.12mi
216 N Ardmore Ave Dayton, OH	3.0	1.0	1500	$1,100	$0.73	5d	1	1.12mi
725 Maplehurst Ave Dayton, OH	2.0	1.0	1104	$895	$0.81	46d	1	1.14mi
1225 Amherst Pl Dayton, OH	3.0	1.0	1548	$1,300	$0.84	16d	1	1.14mi
1378 Cory Dr Dayton, OH	2.0	1.0	1300	$975	$0.75	46d	1	1.16mi
1067 Salem Ave Unit 2 Dayton, OH	2.0	1.5	1100	$900	$0.82	46d	1	1.17mi
1067 Salem Ave Unit 3 Dayton, OH	2.0	1.5	1100	$900	$0.82	46d	1	1.17mi
1067 Salem Ave Dayton, OH	2.0	1.0	1100	$900	$0.82	46d	1	1.17mi
437 Lorenz Ave Dayton, OH	3.0	1.0	1322	$1,200	$0.91	25d	1	1.20mi
338 Kenwood Ave Dayton, OH	3.0	1.5	1512	$1,195	$0.79	46d	1	1.21mi
534 Geyer St Dayton, OH	4.0	1.0	1640	$1,530	$0.93	25d	1	1.24mi
100 N Jefferson St Dayton, OH	1.0–2.0	1.0–2.0	800	$1,532	$1.92	5d	11	1.24mi
429 Bolander Ave Unit 431 Dayton, OH	4.0	2.5	1468	$1,695	$1.15	5d	1	1.26mi
429 Bolander Ave Dayton, OH	4.0	2.5	1468	$1,695	$1.15	46d	1	1.26mi
140 E Monument Ave Dayton, OH	3.0	1.0–2.0	1048	$2,344	$2.24	5d	11	1.29mi
518 Delaware Ave Dayton, OH	2.0	1.0	1500	$750	$0.50	46d	1	1.31mi
35 S Saint Clair St Dayton, OH	1.0–2.0	1.0–2.0	918	$1,844	$2.01	5d	18	1.31mi
1045 Philadelphia Dr Dayton, OH	2.0	1.0	1290	$1,150	$0.89	5d	1	1.35mi

Listing history 18 events

1. 2026-06-22
   days on market $1 Active 26 DOM
2. 2026-06-18
   days on market $1 Active 23 DOM
3. 2026-06-17
   days on market $1 Active 22 DOM
4. 2026-06-16
   days on market $1 Active 21 DOM
5. 2026-06-15
   days on market $1 Active 20 DOM
6. 2026-06-14
   days on market $1 Active 18 DOM
7. 2026-06-13
   days on market $1 Active 17 DOM
8. 2026-06-10
   days on market $1 Active 15 DOM
9. 2026-06-09
   days on market $1 Active 14 DOM
10. 2026-06-08
    days on market $1 Active 13 DOM
11. 2026-06-07
    days on market $1 Active 12 DOM
12. 2026-06-05
    days on market $1 Active 9 DOM
13. 2026-06-03
    remarks 392-char remark
14. 2026-06-03
    days on market $1 Active 8 DOM
15. 2026-06-02
    days on market $1 Active 7 DOM
16. 2026-06-01
    days on market $1 Active 6 DOM
17. 2026-05-31
    days on market $1 Active 5 DOM
18. 2026-05-26
    listed $1 Active

ⓘ 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) · 75% 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: $15,917
• − Mortgage interest: −$4,415
• − Property taxes: −$1,182
• − Insurance: −$1,061
• − Repairs & maintenance: −$1,273
• − Management: −$1,273
• − Depreciation: −$2,293
• Taxable income: $4,419
• Est. tax owed @ 24.0%: −$1,061
• After-tax cash flow: $4,311/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): 9,407
• Household income: $48,401
• Rent vs Own: 64.1% rent · 35.9% own
• Severe rent burden: 404.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 57% White 32% Two or more races 7% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Italian 2% Serbian 2% Slovak 1%
• Foreign-born: 5% · Canada, Vietnam, Jamaica
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1% 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: ▼ -81.89%
• Current HPI: 149.7909
• Rent YoY: ▲ 3.98%
• 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

Property tax history

+1.3%/yr

Latest (2025): $1,172 · -18.1% YoY. Source: county tax records.