1524 Glenbeck Ave · Kettering, OH 45409

$348,900

16 bd · 1.0 ba · 3,840 sqft · MultiFamily public records · 4 Days on market

Built 1944 0.25 ac lot $91/sqft · 9% above area Est $321k · 9% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.2/10.0
• Rent growth +5.0/5.0
• Livability +4.2/5.0
• ARV discount +3.6/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Searching for a well-maintained investment property? Look no further. There are 4 units consisting of 1 bedroom, 1 bath, living room and eat-in kitchen, as well as a 4-car attached garage. Located near The Hills and Dales Metropark and local restaurants, shopping centers. Tenants are responsible for electric in each unit. The owner has updated each unit and there are washer and dryer hookups for each unit.

Key facts

• Updated closets
• Updated backsplashes
• Updated cabinets

Tags

• MULTI-FAMILY RESIDENCE
• ADDED INSULATION
• UPDATED CABINETS
• UPDATED CLOSETS
• UPDATED BACKSPLASHES
• RECENTLY PAINTED FASCIA

Property features AI

Finance

• Financial info: Listed for sale; Gross rental income reported: $35,700

Exterior

• Parking: Four garage spaces; Driveway; On-street parking
• Security: Smoke Detector(s)
• Utilities: Natural gas available; Public water; Sewer available
• Home design: Two-story building; Brick construction; Residential zoning
• Construction: Brick construction; Unfinished basement
• Exterior features: Smoke detectors; Lot approximately 0.25 acres (140 x 70)

Interior

• Bedrooms: Four one-bedroom units (multi-unit property)
• Bathrooms: Four full bathrooms
• Heating & cooling: Electric baseboard heating; Window air conditioning units
• Interior features: Attic; Unfinished basement

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/1.0-bath units multifamily listed at $349k.

Deal economics

• At list price, monthly cash flow is $3k ($41k/yr) — positive. Per door: $861/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $349k).
• Cap rate 18.1% vs local median 4.4% in Kettering — 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 83/100 on livability (#61 in OH, #922 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, cost of living A+; Watch: commute F.
• Kettering City School District (suburban): math 54% / reading 68% proficiency, ranked #277 of 656 in OH (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+10.8%/yr); 53 active listings in the ZIP; solid renter incomes; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $7,757/mo this rent would consume 107% of the median local household income ($87k/yr) (locally 185% 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 $2k of loan paydown is wiped out by about $10k 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 + 8.0% rent growth), your $98k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $348,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1944 — 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 2.22% ✓
• Cap rate: 18.14%
• Cash-on-cash: 42.32%
• DSCR: 2.88
• GRM: 3.7

CMA / ARV

• ARV (median comp): $321,063
• List price: $348,900
• Delta: 8.67%
• Verdict: FAIR
• Comps: 12 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 44.9%
• Equity multiple: 3.09×
• Total profit: $204,149
• Equity at exit: $52,022

10-year hold

• IRR: 53.1%
• Equity multiple: 7.63×
• Total profit: $648,026
• Equity at exit: $30,166

Cash invested: $97,692 (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 45409

• Rents YoY: 10.8%
• Active inventory: 53
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $7,757 medium
• Mortgage (P&I): −$1,830
• Tax from tax record: −$708 /mo · $8,497/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,629
• Net cashflow: $3,445

Break-even live

Break-even rent $3,396

Max offer price $348,900

Occupancy floor 51%

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	1	$7,756
Total (4 units)			$7,757

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: $87,225
• Closing costs: $10,467
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-05
   status Pending 555-char remark
2. 2026-05-01
   listed $348,900 Active 555-char remark
3. 2019-03-19
   soldstatus $200,000 Closed 410-char remark

   Show marketing remark (410 chars)

   Searching for a well-maintained investment property? Look no further. There are 4 units consisting of 1 bedroom, 1 bath, living room and eat-in kitchen, as well as a 4-car attached garage. Located near The Hills and Dales Metropark and local restaurants, shopping centers. Tenants are responsible for electric in each unit. The owner has updated each unit and there are washer and dryer hookups for each unit.

4. 2019-03-19
   soldstatus $200,000 Sold 410-char remark

   Show marketing remark (410 chars)

   Searching for a well-maintained investment property? Look no further. There are 4 units consisting of 1 bedroom, 1 bath, living room and eat-in kitchen, as well as a 4-car attached garage. Located near The Hills and Dales Metropark and local restaurants, shopping centers. Tenants are responsible for electric in each unit. The owner has updated each unit and there are washer and dryer hookups for each unit.

5. 2019-02-01
   status Pending 410-char remark

   Show marketing remark (410 chars)

   Searching for a well-maintained investment property? Look no further. There are 4 units consisting of 1 bedroom, 1 bath, living room and eat-in kitchen, as well as a 4-car attached garage. Located near The Hills and Dales Metropark and local restaurants, shopping centers. Tenants are responsible for electric in each unit. The owner has updated each unit and there are washer and dryer hookups for each unit.

6. 2019-01-31
   listed $198,500 Active 410-char remark

   Show marketing remark (410 chars)

   Searching for a well-maintained investment property? Look no further. There are 4 units consisting of 1 bedroom, 1 bath, living room and eat-in kitchen, as well as a 4-car attached garage. Located near The Hills and Dales Metropark and local restaurants, shopping centers. Tenants are responsible for electric in each unit. The owner has updated each unit and there are washer and dryer hookups for each unit.

7. 2003-12-08
   soldstatus $163,000
8. 2003-05-30
   soldstatus $123,000
9. 1983-12-13
   soldstatus $62,990
10. 1983-12-13
    soldstatus $62,990

ⓘ 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: $8,497 · $708/mo
• Projected year-2 tax: $8,497 · $708/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $93,084
• − Mortgage interest: −$19,544
• − Property taxes: −$8,497
• − Insurance: −$1,744
• − Repairs & maintenance: −$7,447
• − Management: −$7,447
• − Depreciation: −$10,150
• Taxable income: $38,255
• Est. tax owed @ 24.0%: −$9,181
• After-tax cash flow: $32,157/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: Kettering City School District
• NCES district ID: 3904418
• Math proficiency: 54% ▼ -21.00%
• Reading proficiency: 68% ▼ -9.00%
• Median HH income: $50,353
• Composite: 51.89/100
• National rank: #1653
• State rank: #277 of 656 in OH

Livability — Kettering

• Score: 83/100
• State rank: #61
• US rank: #922

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kettering, OH
• County: Montgomery County · 459,541 people
• City population: 73,116
• Metro: Dayton-Kettering, OH
• Population (ZIP): 15,293
• Household income: $87,283
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 185.0

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 (83%)
• Race & ethnicity: White 83% Hispanic / Latino 6% Two or more races 5% Black 5% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 4% Italian 4% Slovak 2%
• Foreign-born: 4% · China, Canada, Vietnam
• Languages at home: 92% English-only · Spanish 4% Chinese 1% Other Indo-European 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: ▼ -199.63%
• Current HPI: 225.554
• Rent YoY: ▲ 10.84%
• 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

+406.4% since first listed

11 events — show timeline

• 2026-05-28 Sold (MLS) $319,000 Dayton MLS
• 2026-05-05 Pending — Dayton MLS
• 2026-05-01 Listed $348,900 Dayton MLS
• 2019-03-19 Sold (MLS) $200,000 Dayton MLS
• 2019-03-19 Sold (MLS) $200,000 Dayton MLS
• 2019-02-01 Pending — Dayton MLS
• 2019-01-31 Listed $198,500 Dayton MLS
• 2003-12-08 Sold (Public Records) $163,000 Public Records
• 2003-05-30 Sold (Public Records) $123,000 Public Records
• 1983-12-13 Sold (Public Records) $62,990 Public Records
• 1983-12-13 Sold (Public Records) $62,990 Public Records

Property tax history

+6.5%/yr

Latest (2025): $8,497 · -0.3% YoY. Source: county tax records.