35 Vincent St · Dayton, OH 45405

$180,900

5 bd · 2.0 ba · 2,638 sqft · MultiFamily public records · 127 Days on market

Built 1896 9,500 sqft lot $69/sqft · 60% above area

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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 +28.3/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Rent growth +3.6/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Completely updated duplex offering modern finishes and major mechanical improvements throughout — perfect for owner-occupants or investors. 35 has 2 bedrooms and 2 full baths; 37 has 2 bedrooms and one and a half baths. Extensive renovations include brand-new flooring, fully updated kitchens and bathrooms, new appliances, new furnace and central air, and a new roof. The heavy lifting has already been done — this property is positioned for long-term, low-maintenance ownership. Utilities are currently off and will need to be activated to complete final touch items. Property is being sold as-is.

Key facts

• Brand-new flooring
• Modern finishes
• 9,500 sq ft lot

Tags

• MODERN FINISHES
• MAJOR MECHANICAL IMPROVEMENTS
• EXTENSIVE RENOVATIONS
• BRAND-NEW FLOORING
• FULLY UPDATED KITCHENS
• FULLY UPDATED BATHROOMS

What this means for you Summary

Snapshot

• This is a 1×2bd/1ba + 1×2bd/1.5ba units multifamily listed at $181k.

Deal economics

• At list price, monthly cash flow is $580 ($7k/yr) — positive. Per door: $290/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $181k).
• Recommended offer: $159k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 7.4% 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: 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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).
• At $2,078/mo this rent would consume 57% of the median local household income ($44k/yr) (locally 1475% 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 $5k 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 + 4.3% rent growth), your $51k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $26k; list at $181k implies a 596% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1896 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,192 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1896 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.15% ✓
• Cap rate: 10.14%
• Cash-on-cash: 13.74%
• DSCR: 1.61
• GRM: 7.3

CMA / ARV

• ARV (median comp): $113,211
• List price: $180,900
• Delta: 59.79%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
103 Warder St #101	0.23mi	6/2.0 (+1)	2,540 (-4%)	8mo	$174,500	$69	72
44 W Mumma Ave	0.34mi	6/2.0 (+1)	2,530 (-4%)	2mo	$115,000	$45	71
117 Neal Ave	0.29mi	4/— (-1)	2,726 (+3%)	7mo	$24,420	$9	70
70-72 Mary Ave #70	0.46mi	6/2.0 (+1)	2,560 (-3%)	6mo	$55,000	$21	64
229-231 Wroe Ave	0.58mi	6/2.0 (+1)	2,704 (+2%)	3mo	$115,000	$43	61
717 Homewood Ave	0.59mi	6/2.0 (+1)	2,570 (-3%)	4mo	$75,000	$29	60
375 Kenwood Ave #373	0.62mi	6/2.0 (+1)	2,560 (-3%)	5mo	$50,000	$20	57
374 Kenwood Ave	0.62mi	6/2.0 (+1)	2,578 (-2%)	8mo	$148,000	$57	55
804 Harvard Blvd	0.66mi	6/2.0 (+1)	2,796 (+6%)	0mo	$65,000	$23	54
116 Ridge Ave #114	0.54mi	6/2.0 (+1)	2,696 (+2%)	15mo	$82,500	$31	54
64/62 Fountain Ave #2	0.59mi	6/2.0 (+1)	2,954 (+12%)	8mo	$65,000	$22	40
130 Richmond Ave #128	0.65mi	4/2.0 (-1)	2,348 (-11%)	12mo	$82,722	$35	36

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: 5.2%
• Equity multiple: 1.21×
• Total profit: $10,388
• Equity at exit: $26,973

10-year hold

• IRR: 15.7%
• Equity multiple: 2.35×
• Total profit: $68,251
• Equity at exit: $15,641

Cash invested: $50,652 (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: 14.5×

Monthly cashflow live

• Estimated rent: $2,078 high
• Mortgage (P&I): −$949
• Tax from tax record: −$37 /mo · $450/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $580

Break-even live

Break-even rent $1,344

Max offer price $180,900

Occupancy floor 67%

Sensitivity live

Price	-10% $683	-5% $631	+0% $580	+5% $529	+10% $478
Rent	-10% $416	-5% $498	+0% $580	+5% $662	+10% $744
Rate	-1.0pp $671	-0.5pp $626	base $580	+0.5pp $533	+1.0pp $486

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,039
1× unit	2	1.5	$1,039
Total (2 units)			$2,078

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: $45,225
• Closing costs: $5,427
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
932 Harvard Blvd Dayton, OH	5.0	2.0	1986	$1,500	$0.76	44d	1	0.76mi
321 Deeds Ave Unit 319 Dayton, OH	4.0	2.0	1794	$1,100	$0.61	44d	1	1.17mi
531 Maryland Ave Dayton, OH	4.0	1.5	1962	$1,700	$0.87	15d	1	1.25mi

Listing history 21 events

1. 2026-06-18
   days on market $180,900 Active 127 DOM
2. 2026-06-17
   days on market $180,900 Active 126 DOM
3. 2026-06-16
   days on market $180,900 Active 125 DOM
4. 2026-06-15
   days on market $180,900 Active 124 DOM
5. 2026-06-14
   days on market $180,900 Active 122 DOM
6. 2026-06-13
   statusdays on market $180,900 Active 121 DOM
7. 2026-06-10
   days on market $180,900 ActiveUnderContract 119 DOM
8. 2026-06-09
   days on market $180,900 ActiveUnderContract 118 DOM
9. 2026-06-08
   days on market $180,900 ActiveUnderContract 117 DOM
10. 2026-06-07
    days on market $180,900 ActiveUnderContract 116 DOM
11. 2026-06-05
    days on market $180,900 ActiveUnderContract 113 DOM
12. 2026-06-03
    days on market $180,900 ActiveUnderContract 112 DOM
13. 2026-06-02
    days on market $180,900 ActiveUnderContract 111 DOM
14. 2026-06-01
    days on market $180,900 ActiveUnderContract 110 DOM
15. 2026-05-31
    days on market $180,900 ActiveUnderContract 109 DOM
16. 2026-05-19
    historical ActiveUnderContract 611-char remark

    Show marketing remark (611 chars)

    Completely updated duplex offering modern finishes and major mechanical improvements throughout — perfect for owner-occupants or investors. 35 has 2 bedrooms and 2 full baths; 37 has 2 bedrooms and one and a half baths. Extensive renovations include brand-new flooring, fully updated kitchens and bathrooms, new appliances, new furnace and central air, and a new roof. The heavy lifting has already been done — this property is positioned for long-term, low-maintenance ownership. Utilities are currently off and will need to be activated to complete final touch items. Property is being sold as-is.

17. 2026-03-27
    price $180,900 611-char remark

    Show marketing remark (611 chars)

    Completely updated duplex offering modern finishes and major mechanical improvements throughout — perfect for owner-occupants or investors. 35 has 2 bedrooms and 2 full baths; 37 has 2 bedrooms and one and a half baths. Extensive renovations include brand-new flooring, fully updated kitchens and bathrooms, new appliances, new furnace and central air, and a new roof. The heavy lifting has already been done — this property is positioned for long-term, low-maintenance ownership. Utilities are currently off and will need to be activated to complete final touch items. Property is being sold as-is.

18. 2026-02-11
    listed $185,900 Active 611-char remark

    Show marketing remark (611 chars)

    Completely updated duplex offering modern finishes and major mechanical improvements throughout — perfect for owner-occupants or investors. 35 has 2 bedrooms and 2 full baths; 37 has 2 bedrooms and one and a half baths. Extensive renovations include brand-new flooring, fully updated kitchens and bathrooms, new appliances, new furnace and central air, and a new roof. The heavy lifting has already been done — this property is positioned for long-term, low-maintenance ownership. Utilities are currently off and will need to be activated to complete final touch items. Property is being sold as-is.

19. 2004-08-17
    soldstatus $26,000
20. 1997-09-04
    soldstatus $383,500
21. 1978-01-30
    soldstatus $16,000

ⓘ 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: $450 · $37/mo
• Projected year-2 tax: $1,636 · $136/mo
• Expected delta: +$1,186/yr (+$99/mo · 263.8%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (shaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 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: $24,936
• − Mortgage interest: −$10,133
• − Property taxes: −$450
• − Insurance: −$904
• − Repairs & maintenance: −$1,995
• − Management: −$1,995
• − Depreciation: −$5,263
• Taxable income: $4,196
• Est. tax owed @ 24.0%: −$1,007
• After-tax cash flow: $5,954/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

+1030.6% since first listed

6 events — show timeline

• 2026-05-19 Contingent — Dayton MLS
• 2026-03-27 Price Changed $180,900 Dayton MLS
• 2026-02-11 Listed $185,900 Dayton MLS
• 2004-08-17 Sold (Public Records) $26,000 Public Records
• 1997-09-04 Sold (Public Records) $383,500 Public Records
• 1978-01-30 Sold (Public Records) $16,000 Public Records

Property tax history

-3.0%/yr

Latest (2025): $450 · -8.1% YoY. Source: county tax records.