1532-1534 Mclain St · Dayton, OH 45403

$99,900

4 bd · 2.0 ba · 2,049 sqft · MultiFamily public records · 48 Days on market

Built 1919 4,404 sqft lot $49/sqft · 27% below area Est $137k · 27% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Welcome to 1532-1534 Mclain! This investment opportunity featuring a 2-unit building offering a total of 2,049 square feet of living space. Each unit includes 2 bedrooms, 1 full bath, a large kitchen, dining room, and a spacious living room highlighted by a charming fireplace--adding both character and tenant appeal. The property also features a full, unfinished basement equipped with mechanical systems providing additional convenience and potential value-add opportunities. Tenants will appreciate the private parking located behind the building, offering ease and accessibility. Whether you're looking to expand your portfolio or step into multi-family investing, this property offers strong rental potential with desirable unit layouts and functional amenities.

Key facts

• 2 unit building
• Charming fireplace
• Large kitchen

Tags

• 2 UNIT BUILDING
• LARGE KITCHEN
• DINING ROOM
• SPACIOUS LIVING ROOM
• CHARMING FIREPLACE
• FULL UNFINISHED BASEMENT

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: No garage; Parking lot; On-street parking
• Utilities: Natural gas available; Public water; Sewer available (storm sewer)
• Home design: Frame construction with vinyl siding; 2 stories; Residential zoning
• Construction: Built with frame construction and vinyl siding
• Exterior features: Porch; Storage; Shed(s)

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Two-bedroom units (property contains 2 units)
• Bathrooms: 2 full bathrooms (total for the property)
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Storm door(s); Full unfinished basement
• Laundry & utility: Gas water heater

🏷️ Possibly a rental listed for sale. The $99,900 price doesn't fit this home's estimated sale value (~$136,776) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $100k.

Deal economics

• At list price, monthly cash flow is $846 ($10k/yr) — positive. Per door: $423/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.5% 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; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $1,972/mo this rent would consume 62% 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 $691 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 + 3.7% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $25k; list at $100k implies a 300% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% 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 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.97% ✓
• Cap rate: 16.46%
• Cash-on-cash: 36.31%
• DSCR: 2.62
• GRM: 4.2

CMA / ARV

• ARV (median comp): $136,776
• List price: $99,900
• Delta: -26.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
423 Hulbert St #421	0.27mi	4/2.0	2,012 (-2%)	20mo	$159,900	$79	68
1609 E 5th St	0.44mi	4/2.5	1,896 (-8%)	1mo	$225,000	$119	64
311 Huffman Ave #309	0.14mi	4/2.0	2,184 (+7%)	23mo	$55,000	$25	63
2821 E 5th St #2819	0.61mi	4/2.0	2,128 (+4%)	7mo	$157,000	$74	59
27 Huffman Ave #29	0.42mi	4/2.0	2,143 (+5%)	16mo	$109,000	$51	59
1012 Lorain Ave #1010	0.66mi	4/2.0	2,112 (+3%)	16mo	$157,500	$75	51
424-426 Boltin St	0.25mi	5/— (+1)	1,806 (-12%)	19mo	$120,000	$66	47
438 Clover St	0.52mi	4/4.0	2,156 (+5%)	16mo	$155,000	$72	46
533 Saint Joseph Ave	0.46mi	4/4.0	2,160 (+5%)	19mo	$250,000	$116	46
635 Pritz Ave #633	0.55mi	4/2.0	2,356 (+15%)	14mo	$125,000	$53	38
24-26 S Philadelphia St	0.67mi	4/2.0	2,340 (+14%)	12mo	$176,500	$75	35
26 N Philadelphia St #24	0.67mi	4/2.0	2,340 (+14%)	18mo	$173,500	$74	30

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 · 3.71% rent growth · sell at horizon

5-year hold

• IRR: 32.9%
• Equity multiple: 2.40×
• Total profit: $39,176
• Equity at exit: $14,895

10-year hold

• IRR: 40.3%
• Equity multiple: 4.92×
• Total profit: $109,603
• Equity at exit: $8,638

Cash invested: $27,972 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,972 high
• Mortgage (P&I): −$524
• Tax from tax record: −$146 /mo · $1,752/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $846

Break-even live

Break-even rent $901

Max offer price $99,900

Occupancy floor 52%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,972
Total (2 units)			$1,972

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 24 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	0.38mi
438 Clover St Dayton, OH	3.0	2.0	2156	$1,025	$0.48	43d	1	0.49mi
244 Quitman St Unit A Dayton, OH	3.0	1.0	1987	$1,325	$0.67	23d	1	0.66mi
1515 Wyoming St Dayton, OH	3.0	1.0	1400	$1,000	$0.71	43d	1	0.73mi
115 Livingston Ave Dayton, OH	3.0	1.0	1624	$1,450	$0.89	44d	1	0.80mi
228 James St Dayton, OH	3.0	1.0	1700	$1,200	$0.71	43d	1	0.85mi
227 James St Unit 1 Dayton, OH	3.0	1.0	1700	$1,200	$0.71	3d	1	0.87mi
229 James St Unit 228 Dayton, OH	3.0	1.0	1700	$1,200	$0.71	23d	1	0.87mi
320 Park Dr Dayton, OH	4.0	3.0	2100	$2,400	$1.14	14d	1	0.87mi
32 Gebhart St Dayton, OH	4.0	1.0	1800	$1,400	$0.78	14d	1	0.90mi
1603 Manette Pl Dayton, OH	4.0	2.0	2000	$1,695	$0.85	14d	1	0.90mi
836 Wellmeier Ave Dayton, OH	4.0	1.0	2148	$1,500	$0.70	3d	1	1.01mi
2114 Wayne Ave Dayton, OH	4.0	2.0	1723	$1,595	$0.93	43d	1	1.08mi
2132 Wayne Ave Dayton, OH	3.0	2.0	1484	$1,350	$0.91	2d	1	1.10mi
218 Brown St Unit 218 Dayton, OH	3.0	2.5	1789	$2,200	$1.23	43d	1	1.12mi
218 Brown St Dayton, OH	3.0	2.5	1800	$3,200	$1.78	43d	1	1.12mi
216 Brown St Dayton, OH	3.0	1.5	1563	$2,500	$1.60	43d	1	1.12mi
319 Wyoming St Dayton, OH	4.0	2.5	2064	$2,000	$0.97	2d	1	1.15mi
204 Sears St Dayton, OH	3.0	1.0–2.5	1124	$2,793	$2.48	2d	10	1.15mi
534 Beckman St Dayton, OH	3.0	2.0	1452	$1,400	$0.96	2d	1	1.26mi
3707 E 3rd St Unit 3705 Dayton, OH	3.0	1.0	1410	$1,045	$0.74	23d	1	1.26mi
821 Herman Ave Dayton, OH	3.0	1.0	1456	$1,100	$0.76	21d	1	1.41mi
321 Deeds Ave Unit 319 Dayton, OH	4.0	2.0	1794	$1,100	$0.61	43d	1	1.45mi
140 E Monument Ave Dayton, OH	3.0	1.0–2.0	1048	$2,344	$2.24	2d	11	1.47mi

Listing history 19 events

1. 2026-06-18
   days on market $99,900 Active 48 DOM
2. 2026-06-17
   days on market $99,900 Active 47 DOM
3. 2026-06-16
   days on market $99,900 Active 46 DOM
4. 2026-06-15
   days on market $99,900 Active 45 DOM
5. 2026-06-14
   days on market $99,900 Active 43 DOM
6. 2026-06-13
   days on market $99,900 Active 42 DOM
7. 2026-06-10
   days on market $99,900 Active 40 DOM
8. 2026-06-09
   days on market $99,900 Active 39 DOM
9. 2026-06-08
   days on market $99,900 Active 38 DOM
10. 2026-06-07
    days on market $99,900 Active 37 DOM
11. 2026-06-05
    days on market $99,900 Active 34 DOM
12. 2026-06-03
    days on market $99,900 Active 33 DOM
13. 2026-06-02
    days on market $99,900 Active 32 DOM
14. 2026-06-01
    days on market $99,900 Active 31 DOM
15. 2026-05-31
    days on market $99,900 Active 30 DOM
16. 2026-05-01
    listed $99,900 Active 779-char remark

    Show marketing remark (768 chars)

    Welcome to 1532-1534 Mclain! This investment opportunity featuring a 2-unit building offering a total of 2,049 square feet of living space. Each unit includes 2 bedrooms, 1 full bath, a large kitchen, dining room, and a spacious living room highlighted by a charming fireplace--adding both character and tenant appeal. The property also features a full, unfinished basement equipped with mechanical systems providing additional convenience and potential value-add opportunities. Tenants will appreciate the private parking located behind the building, offering ease and accessibility. Whether you're looking to expand your portfolio or step into multi-family investing, this property offers strong rental potential with desirable unit layouts and functional amenities.

17. 2026-05-01
    listed $99,900 Active 768-char remark

    Show marketing remark (768 chars)

    Welcome to 1532-1534 Mclain! This investment opportunity featuring a 2-unit building offering a total of 2,049 square feet of living space. Each unit includes 2 bedrooms, 1 full bath, a large kitchen, dining room, and a spacious living room highlighted by a charming fireplace--adding both character and tenant appeal. The property also features a full, unfinished basement equipped with mechanical systems providing additional convenience and potential value-add opportunities. Tenants will appreciate the private parking located behind the building, offering ease and accessibility. Whether you're looking to expand your portfolio or step into multi-family investing, this property offers strong rental potential with desirable unit layouts and functional amenities.

18. 2018-10-19
    soldstatus $25,000
19. 1984-05-31
    soldstatus $24,000

ⓘ 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: $1,752 · $146/mo
• Projected year-2 tax: $1,752 · $146/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 ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,664
• − Mortgage interest: −$5,596
• − Property taxes: −$1,752
• − Insurance: −$500
• − Repairs & maintenance: −$1,893
• − Management: −$1,893
• − Depreciation: −$2,906
• Taxable income: $9,124
• Est. tax owed @ 24.0%: −$2,190
• After-tax cash flow: $7,966/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

+316.2% since first listed

4 events — show timeline

• 2026-05-01 Listed $99,900 WRIST
• 2026-05-01 Listed $99,900 Dayton MLS
• 2018-10-19 Sold (Public Records) $25,000 Public Records
• 1984-05-31 Sold (Public Records) $24,000 Public Records

Property tax history

+7.9%/yr

Latest (2025): $1,752 · +38.7% YoY. Source: county tax records.