4518 Woodland Hills Blvd · Dayton, OH 45414

$205,000

2 bd · 2.0 ba · 1,304 sqft · MultiFamily public records · 11 Days on market

Built 1946 6,364 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
• Schools +5.0/10.0
• Rent growth +4.4/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 5 units. estimate disagrees with records

Listing remarks

Attention Dayton investors! This five unit property presents a strong value-add opportunity with significant income upside. The left building includes three fully occupied units generating immediate cash flow, while the right building features two spacious one-bedroom units ready for renovation. Once rehabbed and leased, the property offers excellent potential for strong returns in a growing rental market.

Key facts

• Income upside
• Five unit property
• 6,364 sq ft lot

Tags

• FIVE UNIT PROPERTY
• THREE FULLY OCCUPIED UNITS
• TWO SPACIOUS ONE BEDROOM UNITS
• INCOME UPSIDE
• GROWING RENTAL MARKET

Property features AI

Finance

• Other: Offered for sale
• Financial info: Gross annual income reported as $27,840; Tenant pays electricity and gas

Exterior

• Parking: No garage
• Utilities: Natural gas available; Public water
• Home design: Two-story building; Aluminum and vinyl siding
• Construction: Aluminum siding; Vinyl siding
• Exterior features: Residential zoning; Lot approximately 0.15 acres (101 x 67)

Interior

• Bedrooms: Five one-bedroom units
• Bathrooms: Five full bathrooms
• Interior features: Partial basement; Has cooling (window units); Forced air heating

What this means for you Summary

Snapshot

• This is a 5 × 1-bed/?-bath units multifamily listed at $205k.

Deal economics

• At list price, monthly cash flow is $3k ($37k/yr) — positive. Per door: $611/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $205k).
• Cap rate 24.2% 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.
• Zoned schools: Northridge Elementary School (math 14% / reading 23%, grade F, #1,323 of 1,584 statewide, top 84%, 734 students, 0% FRL); Northridge Middle School (math 9% / reading 18%, grade F, #639 of 654 statewide, top 98%, 354 students, 0% FRL); Northridge High School (math 8% / reading 27%, grade F, #689 of 781 statewide, top 90%, 422 students, 0% FRL).
• Market conditions: Rents rising fast (+7.4%/yr); 52 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $5,516/mo this rent would consume 121% of the median local household income ($54k/yr) (locally 801% 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 $1k of loan paydown is wiped out by about $6k 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 + 7.4% rent growth), your $57k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $170k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $205,000

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 1946 — 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: 2.69% ✓
• Cap rate: 24.17%
• Cash-on-cash: 63.85%
• DSCR: 3.84
• GRM: 3.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.41% rent growth · sell at horizon

5-year hold

• IRR: 67.7%
• Equity multiple: 4.26×
• Total profit: $186,866
• Equity at exit: $30,566

10-year hold

• IRR: 73.2%
• Equity multiple: 10.20×
• Total profit: $528,141
• Equity at exit: $17,725

Cash invested: $57,400 (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 45414

• Rents YoY: 7.4%
• Active inventory: 52
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $5,516 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$143 /mo · $1,719/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,158
• Net cashflow: $3,054

Break-even live

Break-even rent $1,650

Max offer price $205,000

Occupancy floor 40%

Sensitivity live

Price	-10% $3,170	-5% $3,112	+0% $3,054	+5% $2,996	+10% $2,938
Rent	-10% $2,618	-5% $2,836	+0% $3,054	+5% $3,272	+10% $3,490
Rate	-1.0pp $3,157	-0.5pp $3,106	base $3,054	+0.5pp $3,001	+1.0pp $2,947

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

Units	Beds	Baths	Est. rent
▸ 5× units	1	—	$5,515
Total (5 units)			$5,516

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2611 Onaoto Ave Dayton, OH	3.0	1.0	1025	$1,195	$1.17	13d	1	0.33mi
433 Sandhurst Dr Unit 4 Dayton, OH	1.0	1.0	900	$750	$0.83	45d	1	1.28mi
419 Sandhurst Dr Dayton, OH	2.0	1.0	950	$975	$1.03	25d	1	1.31mi
337 Ryburn Ave Unit 2 Dayton, OH	2.0	1.0	900	$800	$0.89	45d	1	1.36mi
317 Fernwood Ave Dayton, OH	3.0	1.0	1320	$1,100	$0.83	13d	1	1.42mi
4339 Riverside Dr Dayton, OH	1.0–3.0	1.0–2.0	936	$1,149	$1.23	4d	12	1.46mi
1108 Rydale Rd Dayton, OH	3.0	1.0	1281	$1,245	$0.97	21d	1	1.48mi
244 E Siebenthaler Ave Dayton, OH	2.0	1.5	1273	$1,175	$0.92	4d	1	1.49mi

Listing history 8 events

1. 2026-06-22
   days on market $205,000 Active 11 DOM
2. 2026-06-18
   days on market $205,000 Active 8 DOM
3. 2026-06-17
   days on market $205,000 Active 7 DOM
4. 2026-06-16
   days on market $205,000 Active 6 DOM
5. 2026-06-15
   days on market $205,000 Active 5 DOM
6. 2026-06-14
   days on market $205,000 Active 3 DOM
7. 2026-06-13
   remarks 409-char remark
8. 2026-06-13
   listed $205,000 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: $1,719 · $143/mo
• Projected year-2 tax: $2,458 · $205/mo
• Expected delta: +$740/yr (+$62/mo · 43.0%)

ⓘ 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 3/10 Moderate 7 d/yr ≥104°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: $66,192
• − Mortgage interest: −$11,483
• − Property taxes: −$1,719
• − Insurance: −$1,025
• − Repairs & maintenance: −$5,295
• − Management: −$5,295
• − Depreciation: −$5,964
• Taxable income: $35,411
• Est. tax owed @ 24.0%: −$8,499
• After-tax cash flow: $28,149/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)

No district data.

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

• County: Montgomery County · 459,541 people
• City population: 164,387
• Metro: Dayton-Kettering, OH
• Population (ZIP): 21,167
• Household income: $54,485
• Rent vs Own: 30.3% rent · 69.7% own
• Severe rent burden: 801.0

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 (75%)
• Race & ethnicity: White 75% Black 15% Two or more races 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Slovak 2% Romanian 2% Italian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 2% Arabic 1% Tagalog/Filipino 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: ▼ -142.46%
• Current HPI: 183.1124
• Rent YoY: ▲ 7.41%
• 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

+485.7% since first listed

9 events — show timeline

• 2026-06-10 Listed $205,000 Dayton MLS
• 2023-12-16 Rental Removed $750 LEASESTAR
• 2023-10-20 Listed for Rent $750 LEASESTAR
• 2021-02-05 Sold (Public Records) $170,000 Public Records
• 2007-06-05 Sold (Public Records) $70,000 Public Records
• 2007-05-01 Sold (Public Records) $85,000 Public Records
• 2005-04-07 Sold (Public Records) $92,000 Public Records
• 1986-04-14 Sold (Public Records) $35,000 Public Records
• 1986-04-14 Sold (Public Records) $35,000 Public Records

Property tax history

-0.9%/yr

Latest (2025): $1,719 · -2.3% YoY. Source: county tax records.