877 E 3rd St · Xenia, OH 45385

$40,000

2 bd · 1.0 ba · 924 sqft · SingleFamily public records · 37 Days on market

Built 1909 $43/sqft · 39% below area Est $66k · 39% 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
• Schools +4.0/10.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SELLER HAS NOT OCCUPIED PROPERTY**HOME BEING SOLD "AS IS" WITH NO WARRANTIES EXPRESSED OR IMPLIED**USE EXTREME CAUTION AROUND GARAGE AREA NOT SAFE**HOME COULD MAKE A GREAT INVESTMENT FOR THE PRICE**$1000.00 EARNEST MONEY DEPOSIT REQUIRED WITH ALL OFFERS**PREAPPROVAL LETTER OR PROOF OF FUNDS WITH ALL OFFERS

Key facts

• Built 1909
• Listed 37 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $621 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $39k (3.0% below list) — sets the bar for market timing.
• Cap rate 24.9% vs local median 3.6% in Xenia — 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 75/100 on livability (#244 in OH, #3,892 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: amenities D+, commute F, employment F.
• Xenia Community City (suburban): math 42% / reading 53% proficiency, ranked #478 of 656 in OH (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.5%/yr); 234 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 797 units permitted in Greene County in 2024 (148 in 5+ unit buildings).
• This rent is only 17% of the median local income ($77k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y 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 $8k; list at $40k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $38,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.79% ✓
• Cap rate: 24.93%
• Cash-on-cash: 66.58%
• DSCR: 3.96
• GRM: 3.0

CMA / ARV

• ARV (median comp): $65,540
• List price: $40,000
• Delta: -38.97%
• 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
832 E 3rd St	0.05mi	3/1.0 (+1)	866 (-6%)	3mo	$148,000	$171	80
634 E Main St	0.29mi	2/1.0	912 (-1%)	11mo	$49,000	$54	75
519 E 3rd St	0.34mi	2/1.0	882 (-4%)	1mo	$115,500	$131	75
637 E Main St	0.27mi	2/1.0	1,000 (+8%)	2mo	$35,000	$35	72
931 E 3rd St	0.05mi	2/1.0	1,032 (+12%)	9mo	$38,000	$37	71
846 E Church St	0.33mi	2/1.0	792 (-14%)	2mo	$22,500	$28	59
505 S Stadium Dr	0.61mi	3/1.0 (+1)	864 (-6%)	3mo	$192,000	$222	53
625 S Columbus St	0.61mi	3/1.0 (+1)	960 (+4%)	14mo	$175,000	$182	48
222 Washington St	0.73mi	2/1.0	1,000 (+8%)	6mo	$113,000	$113	47
323 E Church St	0.61mi	2/1.0	803 (-13%)	4mo	$55,000	$68	46
527 S Stadium Dr	0.60mi	3/2.0 (+1)	864 (-6%)	9mo	$249,900	$289	45
717 Kennedy St	0.73mi	3/1.0 (+1)	1,036 (+12%)	1mo	$160,300	$155	40

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 · 5.48% rent growth · sell at horizon

5-year hold

• IRR: 68.6%
• Equity multiple: 4.21×
• Total profit: $35,952
• Equity at exit: $5,964

10-year hold

• IRR: 73.5%
• Equity multiple: 9.45×
• Total profit: $94,601
• Equity at exit: $3,458

Cash invested: $11,200 (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 45385

• Rents YoY: 5.5%
• Active inventory: 234
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,115 high
• Mortgage (P&I): −$210
• Tax from tax record: −$33 /mo · $395/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $621

Break-even live

Break-even rent $328

Max offer price $40,000

Occupancy floor 39%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
485 E 2nd St Xenia, OH	1.0	1.0	640	$800	$1.25	43d	1	0.41mi
237 Park St Xenia, OH	2.0	1.0	798	$1,050	$1.32	2d	1	0.45mi
655 Eavey St Xenia, OH	3.0	1.0	1040	$1,495	$1.44	11d	1	0.58mi
398 N Columbus St Xenia, OH	2.0	1.0	1001	$1,195	$1.19	2d	1	0.58mi
48 N Collier St Xenia, OH	2.0	1.0	900	$1,050	$1.17	21d	1	0.73mi
52 N Collier St Xenia, OH	2.0	1.0	900	$1,050	$1.17	11d	1	0.73mi
85 W 2nd St Unit 4 Xenia, OH	1.0	1.0	932	$790	$0.85	2d	1	0.94mi
451 Cincinnati Ave Xenia, OH	3.0	1.0	1024	$1,275	$1.25	14d	1	1.33mi
190 Wilson Dr Xenia, OH	2.0	1.0	869	$899	$1.03	14d	1	1.37mi
1047 Frederick Dr Unit 1067 Xenia, OH	1.0	1.0	600	$775	$1.29	3d	1	1.40mi
920 N Detroit St Unit 22 Xenia, OH	1.0	1.0	650	$850	$1.31	43d	1	1.42mi
920 N Detroit St Xenia, OH	2.0	1.0	700	$1,250	$1.79	2d	1	1.42mi
920 N Detroit St Apt 11 Xenia, OH	1.0	1.0	650	$850	$1.31	14d	1	1.42mi
1077 Frederick Dr Xenia, OH	1.0–2.0	1.0	650	$850	$1.31	43d	2	1.42mi

Listing history 22 events

1. 2026-06-18
   days on market $40,000 Active 37 DOM
2. 2026-06-17
   days on market $40,000 Active 36 DOM
3. 2026-06-16
   days on market $40,000 Active 35 DOM
4. 2026-06-15
   days on market $40,000 Active 34 DOM
5. 2026-06-14
   days on market $40,000 Active 32 DOM
6. 2026-06-13
   days on market $40,000 Active 31 DOM
7. 2026-06-10
   days on market $40,000 Active 29 DOM
8. 2026-06-09
   days on market $40,000 Active 28 DOM
9. 2026-06-08
   days on market $40,000 Active 27 DOM
10. 2026-06-07
    days on market $40,000 Active 26 DOM
11. 2026-06-05
    days on market $40,000 Active 23 DOM
12. 2026-06-03
    days on market $40,000 Active 22 DOM
13. 2026-06-02
    days on market $40,000 Active 21 DOM
14. 2026-06-01
    days on market $40,000 Active 20 DOM
15. 2026-05-31
    days on market $40,000 Active 19 DOM
16. 2026-05-31
    days on market $40,000 Active 18 DOM
17. 2026-05-13
    listed $40,000 Active 326-char remark
18. 2007-09-11
    soldstatus $8,000 317-char remark

    Show marketing remark (317 chars)

    SELLER HAS NOT OCCUPIED PROPERTY**HOME BEING SOLD "AS IS" WITH NO WARRANTIES EXPRESSED OR IMPLIED**USE EXTREME CAUTION AROUND GARAGE AREA NOT SAFE**HOME COULD MAKE A GREAT INVESTMENT FOR THE PRICE**$1000.00 EARNEST MONEY DEPOSIT REQUIRED WITH ALL OFFERS**PREAPPROVAL LETTER OR PROOF OF FUNDS WITH ALL OFFERS

19. 2007-03-02
    listed $9,900 317-char remark

    Show marketing remark (317 chars)

    SELLER HAS NOT OCCUPIED PROPERTY**HOME BEING SOLD "AS IS" WITH NO WARRANTIES EXPRESSED OR IMPLIED**USE EXTREME CAUTION AROUND GARAGE AREA NOT SAFE**HOME COULD MAKE A GREAT INVESTMENT FOR THE PRICE**$1000.00 EARNEST MONEY DEPOSIT REQUIRED WITH ALL OFFERS**PREAPPROVAL LETTER OR PROOF OF FUNDS WITH ALL OFFERS

20. 2002-02-28
    soldstatus $80,000
21. 1987-01-16
    soldstatus $15,000
22. 1987-01-01
    soldstatus $15,000

ⓘ 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: $395 · $33/mo
• Projected year-2 tax: $509 · $42/mo
• Expected delta: +$115/yr (+$10/mo · 29.1%)

ⓘ 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 ≥99°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,378
• − Mortgage interest: −$2,241
• − Property taxes: −$395
• − Insurance: −$200
• − Repairs & maintenance: −$1,070
• − Management: −$1,070
• − Depreciation: −$1,164
• Taxable income: $7,239
• Est. tax owed @ 24.0%: −$1,737
• After-tax cash flow: $5,719/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: Xenia Community City
• NCES district ID: 3904515
• Math proficiency: 42% ▼ -16.00%
• Reading proficiency: 53% ▼ -5.00%
• Median HH income: $46,206
• Composite: 40.31/100
• National rank: #3752
• State rank: #478 of 656 in OH

Livability — Xenia

• Score: 75/100
• State rank: #244
• US rank: #3892

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Xenia, OH
• County: Greene County · 132,120 people
• City population: 40,617
• Metro: Dayton-Kettering, OH
• Population (ZIP): 40,617
• Household income: $76,564
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 906.0

Population outlook (Greene County) Hauer SSP2

• Today (2025): 170,301 people
• By 2030: 171,840 · +0.9%
• By 2040: 171,408 · +0.7%
• By 2050: 167,806 · -1.5%
• By 2075: 154,430 · -9.3%
• By 2100: 138,669 · -18.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 6% Black 6% Hispanic / Latino 2% Asian 2%
• Common ancestry: Slovak 3% Italian 2% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Other Indo-European 1% Spanish 1%

Political lean MEDSL · Greene

• 2024 margin: R (+19.8) · D 39.5% · R 59.3% · Other 1.2%
• 2008→2024 swing: -1.4pp toward R · 2008: -18.4pp · 2024: -19.8pp
• All cycles: 2024: R+19.8 2020: R+19.5 2016: R+24.5 2012: R+21.8 2008: R+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -158.15%
• Current HPI: 239.0473
• Rent YoY: ▲ 5.48%
• 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

+166.7% since first listed

6 events — show timeline

• 2026-05-13 Listed $40,000 FSBO.com
• 2007-09-11 Sold (MLS) $8,000 WRIST
• 2007-03-02 Listed $9,900 WRIST
• 2002-02-28 Sold (Public Records) $80,000 Public Records
• 1987-01-16 Sold (Public Records) $15,000 Public Records
• 1987-01-01 Sold (Public Records) $15,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $395 · +1.8% YoY. Source: county tax records.