33 E Cottage Ave · West Carrollton, OH 45449

$139,900

2 bd · 1.0 ba · 1,422 sqft · SingleFamily public records · 51 Days on market

Built 1923 6,752 sqft lot $98/sqft · at area comps Est $177k · 21% under

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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).

• ARV discount +15.0/15.0
• Cash flow +11.2/30.0
• 1% rule +4.0/10.0
• Schools +3.4/10.0
• DSCR +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

33 E Cottage Ave is a charming two-story brick home in Dayton offering a blend of classic character and functional living space. The exterior features a welcoming front porch, mature trees, and a spacious yard with a detached shed for additional storage. Inside, the home boasts a bright living area with neutral tones and hardwood-style flooring, creating a warm and inviting atmosphere. The kitchen includes ample cabinetry, updated countertops, and a practical layout ideal for everyday cooking and entertaining. Generously sized bedrooms provide comfortable retreats, while the full bathroom is clean and well-maintained. Additional highlights include a separate laundry area, multiple entry points, and a flexible floor plan with potential for customization. Conveniently located near local amenities, parks, and major roadways, this property is a great opportunity for homeowners or investors alike.

Key facts

• Spacious yard
• Bright living area
• Front porch

Tags

• FRONT PORCH
• MATURE TREES
• SPACIOUS YARD
• DETACHED SHED
• BRIGHT LIVING AREA
• HARDWOOD STYLE FLOORING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $-53 ($-642/yr) — negative.
• To cash-flow at today's rent, offer at most $130k (6.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $126k (9.9% below list).
• Recommended offer: $126k (9.9% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 4.7% in West Carrollton — 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 (#712 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• West Carrollton City (suburban): math 34% / reading 46% proficiency, ranked #540 of 656 in OH (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Carrollton Early Childhood Center (656 students, 45% FRL); West Carrollton Middle School (math 27% / reading 43%, grade F, #546 of 654 statewide, top 83%, 508 students, 62% FRL); West Carrollton High School (math 17% / reading 57%, grade F, #564 of 781 statewide, top 74%, 951 students, 55% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: 81 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $967 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

• It's been on market 51 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 16y 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 $47k; list at $140k implies a 198% 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 $126,023 (9.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. Built in 1923 — 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. 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?
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 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: 0.90% ✗
• Cap rate: 5.83%
• Cash-on-cash: -1.64%
• DSCR: 0.93
• GRM: 9.3

CMA / ARV

• ARV (median comp): $176,871
• List price: $139,900
• Delta: -20.90%
• 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
25 E Cottage Ave	0.01mi	2/1.0	1,464 (+3%)	10mo	$167,500	$114	86
25 E Main St	0.14mi	2/1.0	1,326 (-7%)	4mo	$139,000	$105	79
333 E Cottage Ave	0.21mi	2/1.0	1,520 (+7%)	5mo	$135,000	$89	74
405 E Pease Ave	0.28mi	3/2.0 (+1)	1,373 (-3%)	7mo	$210,000	$153	66
40 E Pease Ave	0.09mi	3/1.5 (+1)	1,296 (-9%)	13mo	$167,500	$129	63
40 E Main St	0.17mi	2/2.0	1,616 (+14%)	9mo	$167,000	$103	58
230 Stadium Ave	0.53mi	3/2.0 (+1)	1,375 (-3%)	8mo	$228,000	$166	54
310 E Pease Ave	0.20mi	3/1.0 (+1)	1,624 (+14%)	12mo	$169,999	$105	52
426 Catherine Ave	0.38mi	3/2.0 (+1)	1,278 (-10%)	6mo	$182,000	$142	51
149 Savoy Ave	0.47mi	3/1.5 (+1)	1,339 (-6%)	13mo	$214,000	$160	50
26 Southard Ln	0.69mi	3/2.0 (+1)	1,480 (+4%)	3mo	$252,000	$170	49
310 S Elm St	0.46mi	3/1.0 (+1)	1,224 (-14%)	11mo	$157,000	$128	41

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -18.9%
• Equity multiple: 0.34×
• Total profit: $-26,005
• Equity at exit: $20,860

10-year hold

• IRR: -11.4%
• Equity multiple: 0.32×
• Total profit: $-26,747
• Equity at exit: $12,096

Cash invested: $39,172 (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 45449

• Active inventory: 81
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,260 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$257 /mo · $3,085/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $-53

Break-even live

Break-even rent $1,328

Max offer price $130,455

Occupancy floor 99%

Sensitivity live

Price	-10% $26	-5% $-14	+0% $-53	+5% $-93	+10% $-133
Rent	-10% $-153	-5% $-103	+0% $-53	+5% $-4	+10% $46
Rate	-1.0pp $17	-0.5pp $-18	base $-53	+0.5pp $-90	+1.0pp $-127

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
113 W Main St West Carrollton, OH	3.0	1.0	1120	$1,200	$1.07	4d	1	0.21mi
100 N Alex Rd Dayton, OH	2.0	1.0	960	$1,124	$1.17	4d	8	0.63mi
1644 Villa South Dr Dayton, OH	2.0	1.5	1000	$1,500	$1.50	45d	1	1.36mi
1735 Mars Hill Dr Dayton, OH	2.0	1.0–2.0	968	$1,162	$1.20	4d	4	1.39mi

Listing history 20 events

1. 2026-03-30
   historical

   Show marketing remark (905 chars)

   33 E Cottage Ave is a charming two-story brick home in Dayton offering a blend of classic character and functional living space. The exterior features a welcoming front porch, mature trees, and a spacious yard with a detached shed for additional storage. Inside, the home boasts a bright living area with neutral tones and hardwood-style flooring, creating a warm and inviting atmosphere. The kitchen includes ample cabinetry, updated countertops, and a practical layout ideal for everyday cooking and entertaining. Generously sized bedrooms provide comfortable retreats, while the full bathroom is clean and well-maintained. Additional highlights include a separate laundry area, multiple entry points, and a flexible floor plan with potential for customization. Conveniently located near local amenities, parks, and major roadways, this property is a great opportunity for homeowners or investors alike.

2. 2026-03-30
   listed $139,900 Active 905-char remark

   Show marketing remark (905 chars)

   33 E Cottage Ave is a charming two-story brick home in Dayton offering a blend of classic character and functional living space. The exterior features a welcoming front porch, mature trees, and a spacious yard with a detached shed for additional storage. Inside, the home boasts a bright living area with neutral tones and hardwood-style flooring, creating a warm and inviting atmosphere. The kitchen includes ample cabinetry, updated countertops, and a practical layout ideal for everyday cooking and entertaining. Generously sized bedrooms provide comfortable retreats, while the full bathroom is clean and well-maintained. Additional highlights include a separate laundry area, multiple entry points, and a flexible floor plan with potential for customization. Conveniently located near local amenities, parks, and major roadways, this property is a great opportunity for homeowners or investors alike.

3. 2026-03-27
   listed $139,900 Active
4. 2019-01-31
   soldstatus $47,000 Sold
5. 2019-01-31
   soldstatus $47,000 Closed
6. 2018-12-31
   status Pending
7. 2018-12-27
   status Active
8. 2018-12-06
   status Pending
9. 2018-11-15
   listed $45,000 Active
10. 2018-06-05
    historical
11. 2018-02-04
    listed $75,000 Active
12. 2016-04-27
    soldstatus $68,033
13. 2015-05-14
    historical
14. 2014-07-14
    listed $69,900
15. 2010-09-16
    historical
16. 2010-02-21
    listed $79,000
17. 2003-08-18
    soldstatus $84,900
18. 1999-06-22
    soldstatus $71,900
19. 1994-07-27
    soldstatus $50,000
20. 1985-05-13
    soldstatus $37,000

ⓘ 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: $3,085 · $257/mo
• Projected year-2 tax: $3,085 · $257/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,123
• − Mortgage interest: −$7,837
• − Property taxes: −$3,085
• − Insurance: −$700
• − Repairs & maintenance: −$1,210
• − Management: −$1,210
• − Depreciation: −$4,070
• Taxable loss: −$2,988
• Est. tax savings @ 24.0%: +$717
• After-tax cash flow: $76/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: West Carrollton City
• NCES district ID: 3904505
• Math proficiency: 34% ▼ -12.00%
• Reading proficiency: 46% ▼ -9.00%
• Median HH income: $42,209
• Composite: 33.71/100
• National rank: #5380
• State rank: #540 of 656 in OH

Livability — West Carrollton

• Score: 65/100
• State rank: #712
• US rank: #12835

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Carrollton, OH
• County: Montgomery County · 459,541 people
• City population: 19,066
• Metro: Dayton-Kettering, OH
• Population (ZIP): 19,066
• Household income: $63,800
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 745.0

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 (71%)
• Race & ethnicity: White 71% Black 13% Two or more races 9% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 5% Arabic 3% Chinese 2%

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: ▼ -188.64%
• Current HPI: 248.1785
• Rent YoY: —
• 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

+278.1% since first listed

20 events — show timeline

• 2026-03-30 Listed $139,900 Dayton MLS
• 2026-03-30 Listing Removed — MLSNOW
• 2026-03-27 Listed $139,900 MLSNOW
• 2019-01-31 Sold (MLS) $47,000 Dayton MLS
• 2019-01-31 Sold (MLS) $47,000 Dayton MLS
• 2018-12-31 Pending — Dayton MLS
• 2018-12-27 Relisted — Dayton MLS
• 2018-12-06 Pending — Dayton MLS
• 2018-11-15 Listed $45,000 Dayton MLS
• 2018-06-05 Listing Removed — Dayton MLS
• 2018-02-04 Listed $75,000 Dayton MLS
• 2016-04-27 Sold (Public Records) $68,033 Public Records
• 2015-05-14 Listing Removed — Dayton MLS
• 2014-07-14 Listed $69,900 Dayton MLS
• 2010-09-16 Listing Removed — Dayton MLS
• 2010-02-21 Listed $79,000 Dayton MLS
• 2003-08-18 Sold (Public Records) $84,900 Public Records
• 1999-06-22 Sold (Public Records) $71,900 Public Records
• 1994-07-27 Sold (Public Records) $50,000 Public Records
• 1985-05-13 Sold (Public Records) $37,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $3,085 · -0.1% YoY. Source: county tax records.