714 Mccleary Ave #716 · Dayton, OH 45406

$64,900

6 bd · 3.0 ba · 2,336 sqft · MultiFamily · 127 Days on market

Built 1924 Poor condition 4,622 sqft lot $28/sqft · 44% below area Est $116k · 44% under ↓ 6% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Schools +1.3/10.0
• Condition / age +1.0/5.0
• 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

Duplex with 3 bed / 1 bath per side (plans included adding a half bath and laundry room on 1st floor). New roof, new windows, new electric service. Fully gutted and ready for renovation.

Key facts

• Fully gutted
• New electric service
• Ready for renovation

Tags

• NEW ROOF
• NEW WINDOWS
• NEW ELECTRIC SERVICE
• FULLY GUTTED
• READY FOR RENOVATION

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $65k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $646/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 30.2% 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 (+3.0%/yr); 156 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $2,203/mo this rent would consume 63% of the median local household income ($42k/yr) (locally 1504% 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 $449 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,112 (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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 3.39% ✓
• Cap rate: 30.18%
• Cash-on-cash: 85.31%
• DSCR: 4.80
• GRM: 2.5

CMA / ARV

• ARV (median comp): $115,977
• List price: $64,900
• Delta: -44.04%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2112 Elsmere Ave	0.31mi	6/2.0	2,178 (-7%)	0mo	$163,000	$75	70
2025 Ravenwood Ave #2023	0.34mi	6/2.0	2,352 (+1%)	13mo	$80,000	$34	68
2247 Salem Ave	0.34mi	6/3.0	2,600 (+11%)	2mo	$203,000	$78	64
631 W Norman Ave #629	0.41mi	6/2.0	2,458 (+5%)	8mo	$118,000	$48	62
2059 Catalpa Dr #2057	0.26mi	6/2.0	2,628 (+12%)	10mo	$179,900	$68	55
2130-2132 Salem Ave	0.42mi	6/2.0	2,492 (+7%)	16mo	$165,000	$66	52
42 Pointview Ave #40	0.73mi	6/—	2,480 (+6%)	8mo	$185,000	$75	50
117 W Parkwood Dr #113	0.70mi	6/2.0	2,617 (+12%)	18mo	$174,900	$67	28
1721 Manor Pl #1719	0.66mi	5/2.0 (-1)	2,648 (+13%)	21mo	$62,000	$23	21

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 · 3.03% rent growth · sell at horizon

5-year hold

• IRR: 85.8%
• Equity multiple: 4.95×
• Total profit: $71,862
• Equity at exit: $9,677

10-year hold

• IRR: 89.0%
• Equity multiple: 10.30×
• Total profit: $168,932
• Equity at exit: $5,611

Cash invested: $18,172 (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 45406

• Rents YoY: 3.0%
• Active inventory: 156
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,203 high
• Mortgage (P&I): −$340
• Tax est. 1.5%: −$81 /mo · $974/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $1,292

Break-even live

Break-even rent $568

Max offer price $64,900

Occupancy floor 36%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,204
Total (2 units)			$2,203

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
932 Harvard Blvd Dayton, OH	5.0	2.0	1986	$1,500	$0.76	43d	1	1.33mi

Listing history 17 events

1. 2026-06-18
   days on market $64,900 Active 127 DOM
2. 2026-06-17
   days on market $64,900 Active 126 DOM
3. 2026-06-16
   days on market $64,900 Active 125 DOM
4. 2026-06-15
   days on market $64,900 Active 124 DOM
5. 2026-06-14
   days on market $64,900 Active 122 DOM
6. 2026-06-13
   pricedays on market $64,900 Active 121 DOM
7. 2026-06-10
   days on market $74,900 Active 119 DOM
8. 2026-06-09
   days on market $74,900 Active 118 DOM
9. 2026-06-08
   days on market $74,900 Active 117 DOM
10. 2026-06-07
    days on market $74,900 Active 116 DOM
11. 2026-06-05
    days on market $74,900 Active 113 DOM
12. 2026-06-03
    days on market $74,900 Active 112 DOM
13. 2026-06-02
    days on market $74,900 Active 111 DOM
14. 2026-06-01
    days on market $74,900 Active 110 DOM
15. 2026-05-31
    days on market $74,900 Active 109 DOM
16. 2026-03-27
    price $74,900 186-char remark

    Show marketing remark (186 chars)

    Duplex with 3 bed / 1 bath per side (plans included adding a half bath and laundry room on 1st floor). New roof, new windows, new electric service. Fully gutted and ready for renovation.

17. 2026-02-11
    listed $79,900 Active 186-char remark

    Show marketing remark (186 chars)

    Duplex with 3 bed / 1 bath per side (plans included adding a half bath and laundry room on 1st floor). New roof, new windows, new electric service. Fully gutted and ready for renovation.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥103°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: $26,436
• − Mortgage interest: −$3,635
• − Property taxes: −$974
• − Insurance: −$324
• − Repairs & maintenance: −$2,115
• − Management: −$2,115
• − Depreciation: −$1,888
• Taxable income: $15,385
• Est. tax owed @ 24.0%: −$3,692
• After-tax cash flow: $11,810/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.

Condition & rehab AI · 0 photos

Poor 20/100 Extensive rehab

This property requires extensive renovations, including kitchen and bathroom upgrades, to improve its condition and increase its resale and rental value.

Repairs flagged

• Major Kitchen — No photos of kitchen available, but it's implied to be in poor condition.
• Major Bathrooms — No photos of bathrooms available, but they're implied to be in poor condition.
• Major Exterior — No photos of exterior available, but it's implied to be in poor condition.
• Major Flooring — No photos of flooring available, but it's implied to be in poor condition.
• Major Interior walls/paint — No photos of interior walls/paint available, but it's implied to be in poor condition.
• Major Landscaping/curb appeal — No photos of landscaping/curb appeal available, but it's implied to be in poor condition.

Value-add opportunities

• Both Upgrade kitchen — A modern kitchen can significantly increase both resale and rental value.
• Both Upgrade bathrooms — Upgraded bathrooms can also boost both resale and rental value.
• Both Improve landscaping/curb appeal — A well-maintained exterior can attract more buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen · No photos of kitchen available, but it's implied to be in poor condition.	Major	$15,000–50,000
Bathrooms · No photos of bathrooms available, but they're implied to be in poor condition.	Major	$15,000–50,000
Exterior · No photos of exterior available, but it's implied to be in poor condition.	Major	$15,000–50,000
Flooring · No photos of flooring available, but it's implied to be in poor condition.	Major	$15,000–50,000
Interior walls/paint · No photos of interior walls/paint available, but it's implied to be in poor condition.	Major	$15,000–50,000
Landscaping/curb appeal · No photos of landscaping/curb appeal available, but it's implied to be in poor condition.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both Upgrade kitchen — A modern kitchen can significantly increase both resale and rental value. ↑
• Both Upgrade bathrooms — Upgraded bathrooms can also boost both resale and rental value. ↑
• Both Improve landscaping/curb appeal — A well-maintained exterior can attract more buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 19,991
• Household income: $41,796
• Rent vs Own: 52.9% rent · 47.1% own
• Severe rent burden: 1504.0

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 (75%)
• Race & ethnicity: Black 75% White 16% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 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: ▼ -113.75%
• Current HPI: 197.1302
• Rent YoY: ▲ 3.03%
• 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

-6.3% since first listed

2 events — show timeline

• 2026-03-27 Price Changed $74,900 Dayton MLS
• 2026-02-11 Listed $79,900 Dayton MLS