685 Randolph St · Dayton, OH 45417

$180,000

4 bd · 2.0 ba · 2,142 sqft · MultiFamily public records · 109 Days on market

Built 1919 3,772 sqft lot $84/sqft · 179% 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 +27.4/30.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• 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

Multi-family units

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

Listing remarks MLS

685 & 687 Randolph. A low maintenance 4 bedrooms (2 per side), 2 bath (1 per side) duplex in the heart of Dayton. * Water heater 2021. Great income potential. Rents are 900.00 & 900.00. Property is being sold in as-is condition. All offers must include proof of funds or current pre-approval letter.

Key facts

• 3,772 sq ft lot
• 2 garage spots
• Built 1919

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $526 ($6k/yr) — positive. Per door: $263/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $164k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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 (+4.1%/yr); 135 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $2,089/mo this rent would consume 68% of the median local household income ($37k/yr) (locally 1822% 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 + 4.1% rent growth), your $50k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 $35k; list at $180k implies a 414% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $163,800 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% 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 1919 — 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: 1.16% ✓
• Cap rate: 9.80%
• Cash-on-cash: 12.52%
• DSCR: 1.56
• GRM: 7.2

CMA / ARV

• ARV (median comp): $64,625
• List price: $180,000
• Delta: 178.53%
• Verdict: OVERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
228-232 Boyer St	0.66mi	4/2.0	2,416 (+13%)	6mo	$130,000	$54	43
1508-1510 Banker St	0.55mi	4/2.0	1,898 (-11%)	22mo	$34,000	$18	37
444 Groveland Ave	0.56mi	3/3.0 (-1)	1,824 (-15%)	23mo	$150,000	$82	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 · 4.06% rent growth · sell at horizon

5-year hold

• IRR: 3.3%
• Equity multiple: 1.13×
• Total profit: $6,542
• Equity at exit: $26,839

10-year hold

• IRR: 13.8%
• Equity multiple: 2.15×
• Total profit: $58,102
• Equity at exit: $15,563

Cash invested: $50,400 (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: 135
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $2,089 high
• Mortgage (P&I): −$944
• Tax from tax record: −$105 /mo · $1,265/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $526

Break-even live

Break-even rent $1,423

Max offer price $180,000

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,088
Total (2 units)			$2,089

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
47 Leroy St Dayton, OH	3.0	1.0	1456	$1,200	$0.82	43d	1	0.60mi
216 N Ardmore Ave Dayton, OH	3.0	1.0	1500	$1,100	$0.73	3d	1	0.94mi
127 Mound St Dayton, OH	3.0	3.0	1726	$1,600	$0.93	14d	1	1.26mi
429 Bolander Ave Dayton, OH	4.0	2.5	1468	$1,695	$1.15	43d	1	1.47mi
429 Bolander Ave Unit 431 Dayton, OH	4.0	2.5	1468	$1,695	$1.15	3d	1	1.47mi

Listing history 27 events

1. 2026-06-18
   days on market $180,000 Active 109 DOM
2. 2026-06-17
   days on market $180,000 Active 108 DOM
3. 2026-06-16
   days on market $180,000 Active 107 DOM
4. 2026-06-15
   days on market $180,000 Active 106 DOM
5. 2026-06-14
   days on market $180,000 Active 104 DOM
6. 2026-06-13
   days on market $180,000 Active 103 DOM
7. 2026-06-10
   days on market $180,000 Active 101 DOM
8. 2026-06-09
   days on market $180,000 Active 100 DOM
9. 2026-06-08
   days on market $180,000 Active 99 DOM
10. 2026-06-07
    days on market $180,000 Active 98 DOM
11. 2026-06-05
    days on market $180,000 Active 95 DOM
12. 2026-06-03
    days on market $180,000 Active 94 DOM
13. 2026-06-02
    days on market $180,000 Active 93 DOM
14. 2026-06-01
    days on market $180,000 Active 92 DOM
15. 2026-05-31
    days on market $180,000 Active 91 DOM
16. 2026-03-01
    listed $180,000 Active 312-char remark

    Show marketing remark (312 chars)

    685 & 687 Randolph. A low maintenance 4 bedrooms (2 per side), 2 bath (1 per side) duplex in the heart of Dayton. * Water heater 2021. Great income potential. Rents are 900.00 & 900.00. Property is being sold in as-is condition. All offers must include proof of funds or current pre-approval letter.

17. 2023-06-08
    historical
18. 2023-05-16
    status Active
19. 2023-05-02
    historical Active/Pending
20. 2023-04-17
    price $99,900
21. 2022-12-27
    status Active
22. 2022-12-22
    historical Active/Pending
23. 2022-11-28
    listed $114,900 Active
24. 2021-08-17
    soldstatus $35,000
25. 2005-02-02
    soldstatus $37,000
26. 2002-03-18
    soldstatus $65,000
27. 1999-09-22
    soldstatus $13,500

ⓘ 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: $1,265 · $105/mo
• Projected year-2 tax: $2,036 · $170/mo
• Expected delta: +$772/yr (+$64/mo · 61.0%)

ⓘ 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 4/10 Moderate 7 d/yr ≥104°F today · 19 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: $25,068
• − Mortgage interest: −$10,083
• − Property taxes: −$1,265
• − Insurance: −$900
• − Repairs & maintenance: −$2,005
• − Management: −$2,005
• − Depreciation: −$5,236
• Taxable income: $3,573
• Est. tax owed @ 24.0%: −$858
• After-tax cash flow: $5,454/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

+1233.3% since first listed

12 events — show timeline

• 2026-03-01 Listed $180,000 Dayton MLS
• 2023-06-08 Listing Removed — Dayton MLS
• 2023-05-16 Relisted — Dayton MLS
• 2023-05-02 Contingent — Dayton MLS
• 2023-04-17 Price Changed $99,900 Dayton MLS
• 2022-12-27 Relisted — Dayton MLS
• 2022-12-22 Contingent — Dayton MLS
• 2022-11-28 Listed $114,900 Dayton MLS
• 2021-08-17 Sold (Public Records) $35,000 Public Records
• 2005-02-02 Sold (Public Records) $37,000 Public Records
• 2002-03-18 Sold (Public Records) $65,000 Public Records
• 1999-09-22 Sold (Public Records) $13,500 Public Records

Property tax history

+3.2%/yr

Latest (2025): $1,265 · -0.2% YoY. Source: county tax records.