40 E Parkwood Dr · Dayton, OH 45405

$119,900

4 bd · 1.5 ba · 1,436 sqft · SingleFamily public records · 8 Days on market

Built 1923 4,199 sqft lot Est $80k · 49% 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 +22.1/30.0
• DSCR +7.1/10.0
• 1% rule +5.5/10.0
• Rent growth +3.6/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

This 4-bedroom, 1.5-bathroom home captivates with its original woodwork, floors, and unique built-in features. Painted interiors welcome you, creating an inviting atmosphere ready for immediate enjoyment. The main level offers a spacious living room, alongside a formal dining room perfect for hosting gatherings. A generously sized kitchen with an eating area and pantry, provides a wonderful space for dining. You will love the vintage decor! The convenience of a bathroom on each floor enhances daily living. The full basement presents an exciting opportunity to expand your living space, offering endless possibilities for customization to suit your lifestyle needs. Ceiling fans throughout. Pro

Key facts

• Pantry
• Formal dining room
• Original woodwork

Tags

• ORIGINAL WOODWORK
• UNIQUE BUILT-IN FEATURES
• SPACIOUS LIVING ROOM
• FORMAL DINING ROOM
• GENEROUSLY SIZED KITCHEN
• PANTRY

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Sewer available
• Home design: 2-story; Residential zoning
• Construction: Frame construction; Vinyl siding; Wood siding
• Exterior features: Fenced yard; Porch

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Bedroom on third level (23 x 19); Bedroom on second level (10 x 11); Bedroom on second level (13 x 11); Bedroom on second level (11 x 11)
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main level bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Ceiling fan(s); Pantry; Full unfinished basement; One gas fireplace
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $194 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).

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 fast (+4.3%/yr); 134 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• This rent runs 34% of the median local income ($44k/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 $829 of loan paydown is wiped out by about $4k 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $47k; list at $120k implies a 155% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $119,900

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.05% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.92%
• DSCR: 1.31
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $80,416
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2331 Newport Ave	0.07mi	3/1.5 (-1)	1,520 (+6%)	1mo	$85,000	$56	81
17 Marie Ave	0.40mi	4/1.5	1,424 (-1%)	0mo	$70,000	$49	80
53 E Beechwood Ave	0.25mi	3/2.0 (-1)	1,442 (+0%)	2mo	$163,000	$113	79
69 E Beechwood Ave	0.24mi	3/1.0 (-1)	1,400 (-2%)	1mo	$173,000	$124	76
121 E Hillcrest Ave	0.29mi	3/1.0 (-1)	1,402 (-2%)	1mo	$75,000	$53	75
423 Sandalwood Dr	0.43mi	3/1.5 (-1)	1,444 (+1%)	0mo	$62,000	$43	74
50 Woodcrest Ave	0.24mi	3/1.0 (-1)	1,500 (+4%)	2mo	$155,000	$103	73
128 E Parkwood Dr	0.10mi	3/1.0 (-1)	1,228 (-14%)	1mo	$29,810	$24	63
165 Basswood Ave	0.21mi	3/1.0 (-1)	1,253 (-13%)	2mo	$107,500	$86	60
2032 Rugby Rd	0.74mi	3/1.0 (-1)	1,422 (-1%)	0mo	$44,990	$32	56
238 Delaware Ave	0.67mi	4/2.0	1,575 (+10%)	2mo	$35,000	$22	49
2700 Ridge Ave	0.56mi	3/1.5 (-1)	1,616 (+12%)	0mo	$235,000	$145	48

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 · 4.34% rent growth · sell at horizon

5-year hold

• IRR: -4.2%
• Equity multiple: 0.84×
• Total profit: $-5,378
• Equity at exit: $17,877

10-year hold

• IRR: 6.9%
• Equity multiple: 1.55×
• Total profit: $18,439
• Equity at exit: $10,367

Cash invested: $33,572 (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 45405

• Rents YoY: 4.3%
• Active inventory: 134
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,256 high
• Mortgage (P&I): −$629
• Tax from tax record: −$120 /mo · $1,440/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $194

Break-even live

Break-even rent $1,011

Max offer price $119,900

Occupancy floor 80%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
41 W Fairview Ave Unit 2 Dayton, OH	3.0	1.0	1452	$1,200	$0.83	14d	1	0.15mi
2327 Eastview Ave Dayton, OH	5.0	1.0	1290	$1,300	$1.01	44d	1	0.15mi
31 E Norman Ave Dayton, OH	3.0	1.0	1100	$1,150	$1.05	23d	1	0.19mi
101 W Norman Ave Unit 101 Dayton, OH	3.0	1.0	1600	$945	$0.59	44d	1	0.23mi
26 W Beechwood Ave Dayton, OH	3.0	1.5	1468	$1,050	$0.72	44d	1	0.29mi
181 W Norman Ave Dayton, OH	3.0	2.0	1228	$1,150	$0.94	44d	1	0.34mi
201 W Norman Ave Dayton, OH	3.0	1.0	1424	$1,200	$0.84	44d	1	0.36mi
167 W Hudson Ave Dayton, OH	3.0	1.5	1344	$1,185	$0.88	44d	1	0.36mi
39 E Maplewood Ave Dayton, OH	4.0	1.5	1560	$1,050	$0.67	3d	1	0.38mi
42 Pointview Ave Unit 42 Dayton, OH	3.0	2.0	1240	$1,200	$0.97	3d	1	0.42mi
234 Santa Clara Ave Dayton, OH	3.0	1.0	1368	$1,125	$0.82	44d	1	0.47mi
439 W Fairview Ave Dayton, OH	3.0	1.0	1500	$1,200	$0.80	44d	1	0.49mi
317 Fernwood Ave Dayton, OH	3.0	1.0	1320	$1,100	$0.83	11d	1	0.52mi
265 Victor Ave Dayton, OH	3.0	1.0	1204	$900	$0.75	44d	1	0.59mi
101 E Bruce Ave Dayton, OH	3.0	1.0	1455	$1,150	$0.79	3d	1	0.61mi
338 Kenwood Ave Dayton, OH	3.0	1.5	1512	$1,195	$0.79	44d	1	0.82mi
1019 Cherry Dr Dayton, OH	4.0	1.0	1057	$1,125	$1.06	44d	1	0.83mi
1743 Radcliffe Rd Dayton, OH	3.0	1.5	1729	$1,200	$0.69	44d	1	0.86mi
2232 Salem Ave Dayton, OH	3.0	1.0	1250	$1,200	$0.96	3d	1	0.95mi
2247 Salem Ave Unit 2249 Dayton, OH	3.0	1.5	1300	$1,400	$1.08	44d	1	0.96mi
2247 Salem Ave Unit 2247 Dayton, OH	3.0	1.5	1300	$1,350	$1.04	3d	1	0.96mi
1225 Amherst Pl Dayton, OH	3.0	1.0	1548	$1,300	$0.84	14d	1	0.96mi
942 Harvard Blvd Dayton, OH	3.0	2.0	1596	$1,200	$0.75	3d	1	1.01mi
138 Rockwood Ave Dayton, OH	3.0	1.5	1439	$1,200	$0.83	23d	1	1.07mi
136 Rockwood Ave Dayton, OH	3.0	1.5	1439	$1,200	$0.83	44d	1	1.07mi
905 Neal Ave Dayton, OH	3.0	1.0	1100	$850	$0.77	44d	1	1.11mi
534 Geyer St Dayton, OH	4.0	1.0	1640	$1,530	$0.93	23d	1	1.13mi
1927 Burroughs Dr Dayton, OH	3.0	2.0	1409	$1,245	$0.88	14d	1	1.14mi
412 Forest Ave Unit 414 Dayton, OH	3.0	1.5	1200	$1,200	$1.00	44d	1	1.20mi
2141 Philadelphia Dr Dayton, OH	3.0	1.0	1736	$1,395	$0.80	44d	1	1.29mi
1011 N Broadway St Dayton, OH	3.0	1.5	1700	$950	$0.56	44d	1	1.38mi
424 Lexington Ave Dayton, OH	3.0	2.0	1536	$1,025	$0.67	44d	1	1.42mi
1108 Rydale Rd Dayton, OH	3.0	1.0	1281	$1,245	$0.97	19d	1	1.48mi

Listing history 7 events

1. 2026-06-18
   days on market $119,900 Active 8 DOM
2. 2026-06-17
   days on market $119,900 Active 7 DOM
3. 2026-06-16
   days on market $119,900 Active 6 DOM
4. 2026-06-15
   days on market $119,900 Active 5 DOM
5. 2026-06-14
   days on market $119,900 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $119,900 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: $1,440 · $120/mo
• Projected year-2 tax: $1,655 · $138/mo
• Expected delta: +$215/yr (+$18/mo · 15.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $15,074
• − Mortgage interest: −$6,716
• − Property taxes: −$1,440
• − Insurance: −$600
• − Repairs & maintenance: −$1,206
• − Management: −$1,206
• − Depreciation: −$3,488
• Taxable income: $419
• Est. tax owed @ 24.0%: −$100
• After-tax cash flow: $2,223/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): 18,955
• Household income: $43,973
• Rent vs Own: 64.0% rent · 36.0% own
• Severe rent burden: 1475.0

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 Black (68%)
• Race & ethnicity: Black 68% White 23% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Italian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 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: ▼ -125.58%
• Current HPI: 173.4962
• Rent YoY: ▲ 4.34%
• 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

+280.6% since first listed

3 events — show timeline

• 2026-06-10 Listed $119,900 Dayton MLS
• 1993-08-20 Sold (Public Records) $47,000 Public Records
• 1986-10-01 Sold (Public Records) $31,500 Public Records

Property tax history

-1.8%/yr

Latest (2025): $1,440 · -0.2% YoY. Source: county tax records.