2823 Revels Ave · Dayton, OH 45417

$84,900

2 bd · 1.0 ba · 884 sqft · SingleFamily public records · 19 Days on market

Built 1949 7,427 sqft lot

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Why this score? — see what drove the C 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 +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• 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 MLS

Ranch-style 2-bedroom home with basement and garage. Needs full rehab. Sold as-is.

Key facts

• New hvac
• Carpeted bedrooms
• New roof

Tags

• NEW ROOF
• NEW WINDOWS
• NEW HVAC
• FULLY RENOVATED BATHROOM
• NEW LAMINATE FLOORING
• CARPETED BEDROOMS

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: No garage
• Utilities: Standard municipal utilities (water/sewer/power not otherwise specified)
• Home design: Single-story property
• Construction: Aluminum and wood siding; Slab foundation
• Exterior features: Residential lot approximately 0.17 acres (assessor); Lot dimensions about 34 x 26

Interior

• Bedrooms: Two bedrooms on the main level (approx. 12 x 10 and 10 x 11)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Main-level layout

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $188 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($920 rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 7.3% in Dayton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 fast (+4.1%/yr); 140 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $587 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 + 4.1% rent growth), your $24k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $19k; list at $85k implies a 347% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,626 (1.5% below list)

Questions for the listing agent

1. Built in 1949 — 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. 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: 1.08% ✓
• Cap rate: 8.95%
• Cash-on-cash: 9.49%
• DSCR: 1.42
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $45,968
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2932 Sage Ave	0.14mi	2/1.0	884 (0%)	0mo	$46,000	$52	93
2922 Revels Ave	0.13mi	2/1.0	884 (0%)	5mo	$40,000	$45	90
3422 Haberer Ave	0.45mi	3/1.0 (+1)	894 (+1%)	7mo	$83,000	$93	67
820 Ernroe Dr	0.51mi	3/1.0 (+1)	864 (-2%)	3mo	$45,000	$52	65
965 Haller Ave	0.53mi	2/1.0	958 (+8%)	1mo	$45,000	$47	61
2320 Germantown St	0.53mi	2/1.0	836 (-5%)	7mo	$36,800	$44	60
3942 Alvin Ave	0.71mi	2/1.0	912 (+3%)	2mo	$105,000	$115	60
2423 Germantown St	0.43mi	3/1.0 (+1)	952 (+8%)	6mo	$120,000	$126	58
3503 Modena St	0.59mi	3/1.5 (+1)	912 (+3%)	3mo	$45,000	$49	57
762 Ernroe Dr	0.50mi	3/1.0 (+1)	936 (+6%)	8mo	$65,000	$69	55
809 Dennison Ave	0.71mi	3/1.0 (+1)	872 (-1%)	8mo	$62,500	$72	53
1100 Haller Ave	0.52mi	2/1.0	999 (+13%)	4mo	$45,000	$45	51

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 · 4.06% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.97×
• Total profit: $-807
• Equity at exit: $12,659

10-year hold

• IRR: 9.8%
• Equity multiple: 1.79×
• Total profit: $18,810
• Equity at exit: $7,341

Cash invested: $23,772 (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 45417

• Home prices YoY: -32.3%
• Rents YoY: 4.1%
• Active inventory: 140
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $920 high
• Mortgage (P&I): −$445
• Tax from tax record: −$58 /mo · $698/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $188

Break-even live

Break-even rent $682

Max offer price $84,900

Occupancy floor 75%

Sensitivity live

Price	-10% $236	-5% $212	+0% $188	+5% $164	+10% $140
Rent	-10% $115	-5% $152	+0% $188	+5% $224	+10% $261
Rate	-1.0pp $231	-0.5pp $210	base $188	+0.5pp $166	+1.0pp $144

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2525 Germantown St Unit C Dayton, OH	1.0	1.0	750	$750	$1.00	45d	1	0.33mi
2525 Germantown St Unit A Dayton, OH	1.0	1.0	650	$700	$1.08	45d	1	0.33mi
2525 Lakeview Ave Unit 5 Dayton, OH	1.0	1.0	750	$750	$1.00	4d	1	0.36mi
2525 Lakeview Ave Unit 2 Dayton, OH	1.0	1.0	750	$750	$1.00	45d	1	0.36mi
2525 Lakeview Ave Unit 9 Dayton, OH	1.0	1.0	920	$700	$0.76	45d	1	0.36mi
500 Bowie Dr Unit 122 Dayton, OH	2.0	1.0	850	$910	$1.07	45d	1	0.51mi
2240 Lakeview Ave Dayton, OH	3.0	1.0	1056	$1,025	$0.97	45d	1	0.64mi
3939 Nicholas Rd Dayton, OH	3.0	1.0	912	$1,200	$1.32	45d	1	0.65mi
1272 Clement Ave Dayton, OH	3.0	1.0	1025	$1,350	$1.32	4d	1	0.71mi
3964 Nicholas Rd Dayton, OH	3.0	1.0	912	$1,000	$1.10	4d	1	0.73mi
342 Lookout Ave Dayton, OH	2.0	1.0	800	$775	$0.97	45d	1	0.74mi
342 Lookout Ave Dayton, OH	2.0	1.0	800	$750	$0.94	4d	1	0.74mi
673 Randolph St Dayton, OH	2.0	1.0	792	$950	$1.20	45d	1	0.81mi
652 Dennison Ave Dayton, OH	2.0	2.0	988	$1,095	$1.11	22d	1	0.81mi
1515 W Stewart St Dayton, OH	2.0	1.0	925	$1,000	$1.08	45d	1	1.14mi
137 Westwood Ave Dayton, OH	2.0	1.0	784	$900	$1.15	4d	1	1.15mi
70 Gramont Ave Dayton, OH	3.0	1.5	966	$1,300	$1.35	4d	1	1.17mi
41 N Marion St Dayton, OH	2.0	1.0	652	$925	$1.42	4d	1	1.25mi
4109 Midway Ave Dayton, OH	3.0	1.0	971	$1,000	$1.03	4d	1	1.32mi
3627 Delphos Ave Dayton, OH	1.0	1.0	525	$625	$1.19	15d	1	1.43mi

Listing history 15 events

1. 2026-06-22
   days on market $84,900 Active 19 DOM
2. 2026-06-18
   price $84,900 Active 16 DOM
3. 2026-06-18
   days on market $89,900 Active 16 DOM
4. 2026-06-17
   days on market $89,900 Active 15 DOM
5. 2026-06-16
   days on market $89,900 Active 14 DOM
6. 2026-06-15
   days on market $89,900 Active 13 DOM
7. 2026-06-14
   days on market $89,900 Active 11 DOM
8. 2026-06-13
   days on market $89,900 Active 10 DOM
9. 2026-06-10
   days on market $89,900 Active 8 DOM
10. 2026-06-09
    days on market $89,900 Active 7 DOM
11. 2026-06-08
    days on market $89,900 Active 6 DOM
12. 2026-06-07
    days on market $89,900 Active 5 DOM
13. 2026-06-05
    days on market $89,900 Active 2 DOM
14. 2026-06-03
    remarks 638-char remark
15. 2026-06-03
    listed $89,900 Active 1 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: $698 · $58/mo
• Projected year-2 tax: $1,011 · $84/mo
• Expected delta: +$313/yr (+$26/mo · 44.8%)

ⓘ 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 · 19 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,040
• − Mortgage interest: −$4,756
• − Property taxes: −$698
• − Insurance: −$424
• − Repairs & maintenance: −$883
• − Management: −$883
• − Depreciation: −$2,470
• Taxable income: $925
• Est. tax owed @ 24.0%: −$222
• After-tax cash flow: $2,034/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): 28,186
• Household income: $36,945
• Rent vs Own: 52.1% rent · 47.9% own
• Severe rent burden: 1822.0

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 (71%)
• Race & ethnicity: Black 71% White 20% Two or more races 8% Hispanic / Latino 3%
• Common ancestry: Romanian 0%
• Foreign-born: 3% · Canada
• Languages at home: 96% 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: ▼ -92.43%
• Current HPI: 193.4175
• Rent YoY: ▲ 4.06%
• 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

+259.7% since first listed

4 events — show timeline

• 2026-06-01 Listed $89,900 Dayton MLS
• 2025-05-29 Pending — Dayton MLS
• 2025-05-29 Sold (MLS) $19,000 Dayton MLS
• 2025-05-01 Listed $24,990 Dayton MLS

Property tax history

+17.7%/yr

Latest (2025): $698 · -28.2% YoY. Source: county tax records.