4525 Free Pike · Dayton, OH 45416

$64,900

3 bd · 1.0 ba · 918 sqft · SingleFamily public records · 8 Days on market

Built 1954 7,623 sqft lot Est $97k · 33% under

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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
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

***Deadline for the highest and best offers to be submitted will be Wednesday 4/8/26 @ Noon CST.*** Discover an exceptional investment opportunity in Dayton, where comfort meets convenience in this charming single-family residence. This delightful home offers three bedrooms and a full bathroom, providing an ideal layout for a variety of lifestyles. Additional features include an attached oversize 2-car garage, conveniently located laundry room & a large front yard. Situated on a generous 0.18-acre lot, the property offers ample outdoor space for activities and gardening enthusiasts. With its single-story design, this residence provides easy accessibility and a seamless flow throughout its 1048 square feet of living area. This inviting property embodies a welcoming atmosphere, ready for new memories to be made. Schedule your private showing today! - Property is being sold in 'as-is' condition.

Key facts

• Ample outdoor space
• Generous lot
• Large front yard

Tags

• ATTACHED OVERSIZE GARAGE
• LARGE FRONT YARD
• GENEROUS LOT
• AMPLE OUTDOOR SPACE
• SINGLE-STORY DESIGN
• EASY ACCESSIBILITY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $457 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Cap rate 14.7% 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: 29 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $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 ~4 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $64,900

Questions for the listing agent

1. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.78% ✓
• Cap rate: 14.74%
• Cash-on-cash: 30.16%
• DSCR: 2.34
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $97,308
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4563 Nevada Ave	0.32mi	3/1.0	884 (-4%)	0mo	$94,000	$106	79
4601 Curundu Ave	0.27mi	3/1.0	884 (-4%)	5mo	$92,000	$104	77
4460 Curundu Ave	0.25mi	3/1.0	864 (-6%)	3mo	$80,000	$93	76
4477 Gatewood Pl	0.11mi	3/1.5	1,032 (+12%)	1mo	$144,897	$140	72
4288 Redonda Ln	0.26mi	3/2.0	864 (-6%)	4mo	$125,000	$145	70
3997 Mayview Dr	0.49mi	3/1.0	884 (-4%)	3mo	$81,000	$92	69
4703 Natchez Ave	0.46mi	3/1.0	884 (-4%)	5mo	$83,000	$94	68
3462 Arlene Ave	0.15mi	3/1.0	1,044 (+14%)	3mo	$130,000	$125	68
4354 Free Pike	0.16mi	3/1.0	1,044 (+14%)	3mo	$82,500	$79	67
4342 Nevada Ave	0.32mi	3/1.0	997 (+9%)	5mo	$115,000	$115	67
3678 Wilmore St	0.51mi	3/1.5	864 (-6%)	3mo	$131,900	$153	62
2660 Grant Ave	0.74mi	3/1.5	912 (-1%)	2mo	$78,000	$86	61

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: 24.8%
• Equity multiple: 2.02×
• Total profit: $18,589
• Equity at exit: $9,677

10-year hold

• IRR: 32.6%
• Equity multiple: 3.96×
• Total profit: $53,722
• 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 45416

• Home prices YoY: -26.1%
• Active inventory: 29
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,152 high
• Mortgage (P&I): −$340
• Tax from tax record: −$86 /mo · $1,036/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $457

Break-even live

Break-even rent $574

Max offer price $64,900

Occupancy floor 55%

Sensitivity live

Price	-10% $493	-5% $475	+0% $457	+5% $438	+10% $420
Rent	-10% $366	-5% $411	+0% $457	+5% $502	+10% $548
Rate	-1.0pp $489	-0.5pp $473	base $457	+0.5pp $440	+1.0pp $423

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 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4132 Natchez Ave Dayton, OH	3.0	1.5	991	$1,250	$1.26	4d	1	0.50mi
5112 W Hillcrest Ave Unit 1 Dayton, OH	3.0	1.0	972	$700	$0.72	24d	1	0.54mi
4527 Channing Ln Dayton, OH	3.0	1.0	946	$1,600	$1.69	44d	1	0.68mi
2002 Val Vista Ct Dayton, OH	3.0	1.0	975	$1,095	$1.12	22d	1	0.76mi
3711 Pittsburg Ave Dayton, OH	2.0	1.0	800	$875	$1.09	44d	1	0.78mi
2014 Hickorydale Dr Unit 2016 Dayton, OH	2.0	1.0	800	$900	$1.12	44d	1	0.82mi
4365 Parkway Dr Trotwood, OH	2.0	1.0	600	$800	$1.33	44d	1	0.82mi
4446 Waymire Ave Dayton, OH	3.0	1.0	1100	$1,100	$1.00	22d	1	0.87mi
2408 Falmouth Ave Dayton, OH	2.0	1.0	806	$950	$1.18	24d	1	0.87mi
3858 Haney Rd Dayton, OH	2.0	1.0	850	$825	$0.97	3d	1	0.87mi
2501 Fairport Ave Dayton, OH	2.0	1.0	605	$850	$1.40	44d	1	0.97mi
4629 Queens Ave Dayton, OH	2.0	1.0	900	$1,100	$1.22	44d	1	0.98mi
2609 Fairport Ave Dayton, OH	3.0	1.0	1000	$1,025	$1.02	3d	1	0.98mi
4425 Thompson Dr Dayton, OH	3.0	1.0	864	$1,150	$1.33	3d	1	1.09mi
4003 Whitestone Ct Dayton, OH	3.0	1.0	1096	$1,275	$1.16	44d	1	1.13mi
4161 Mapleleaf Dr Dayton, OH	3.0	1.0	960	$1,250	$1.30	3d	1	1.17mi
1720 Kings Mill Ct Dayton, OH	2.0	1.5	975	$925	$0.95	24d	1	1.50mi

Listing history 6 events

1. 2026-04-10
   status Pending

   Show marketing remark (909 chars)

   ***Deadline for the highest and best offers to be submitted will be Wednesday 4/8/26 @ Noon CST.*** Discover an exceptional investment opportunity in Dayton, where comfort meets convenience in this charming single-family residence. This delightful home offers three bedrooms and a full bathroom, providing an ideal layout for a variety of lifestyles. Additional features include an attached oversize 2-car garage, conveniently located laundry room & a large front yard. Situated on a generous 0.18-acre lot, the property offers ample outdoor space for activities and gardening enthusiasts. With its single-story design, this residence provides easy accessibility and a seamless flow throughout its 1048 square feet of living area. This inviting property embodies a welcoming atmosphere, ready for new memories to be made. Schedule your private showing today! - Property is being sold in 'as-is' condition.

2. 2026-04-10
   status Pending 909-char remark

   Show marketing remark (909 chars)

   ***Deadline for the highest and best offers to be submitted will be Wednesday 4/8/26 @ Noon CST.*** Discover an exceptional investment opportunity in Dayton, where comfort meets convenience in this charming single-family residence. This delightful home offers three bedrooms and a full bathroom, providing an ideal layout for a variety of lifestyles. Additional features include an attached oversize 2-car garage, conveniently located laundry room & a large front yard. Situated on a generous 0.18-acre lot, the property offers ample outdoor space for activities and gardening enthusiasts. With its single-story design, this residence provides easy accessibility and a seamless flow throughout its 1048 square feet of living area. This inviting property embodies a welcoming atmosphere, ready for new memories to be made. Schedule your private showing today! - Property is being sold in 'as-is' condition.

3. 2026-04-02
   listed $64,900 Active

   Show marketing remark (909 chars)

   ***Deadline for the highest and best offers to be submitted will be Wednesday 4/8/26 @ Noon CST.*** Discover an exceptional investment opportunity in Dayton, where comfort meets convenience in this charming single-family residence. This delightful home offers three bedrooms and a full bathroom, providing an ideal layout for a variety of lifestyles. Additional features include an attached oversize 2-car garage, conveniently located laundry room & a large front yard. Situated on a generous 0.18-acre lot, the property offers ample outdoor space for activities and gardening enthusiasts. With its single-story design, this residence provides easy accessibility and a seamless flow throughout its 1048 square feet of living area. This inviting property embodies a welcoming atmosphere, ready for new memories to be made. Schedule your private showing today! - Property is being sold in 'as-is' condition.

4. 2026-04-02
   listed $64,900 Active 909-char remark

   Show marketing remark (909 chars)

   ***Deadline for the highest and best offers to be submitted will be Wednesday 4/8/26 @ Noon CST.*** Discover an exceptional investment opportunity in Dayton, where comfort meets convenience in this charming single-family residence. This delightful home offers three bedrooms and a full bathroom, providing an ideal layout for a variety of lifestyles. Additional features include an attached oversize 2-car garage, conveniently located laundry room & a large front yard. Situated on a generous 0.18-acre lot, the property offers ample outdoor space for activities and gardening enthusiasts. With its single-story design, this residence provides easy accessibility and a seamless flow throughout its 1048 square feet of living area. This inviting property embodies a welcoming atmosphere, ready for new memories to be made. Schedule your private showing today! - Property is being sold in 'as-is' condition.

5. 1999-09-23
   soldstatus $69,500
6. 1982-02-16
   soldstatus $20,000

ⓘ 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: $1,036 · $86/mo
• Projected year-2 tax: $1,036 · $86/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 ≥103°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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,829
• − Mortgage interest: −$3,635
• − Property taxes: −$1,036
• − Insurance: −$324
• − Repairs & maintenance: −$1,106
• − Management: −$1,106
• − Depreciation: −$1,888
• Taxable income: $4,732
• Est. tax owed @ 24.0%: −$1,136
• After-tax cash flow: $4,344/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): 5,640
• Household income: $46,174
• Rent vs Own: 33.7% rent · 66.3% own
• Severe rent burden: 172.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 62% White 18% Two or more races 15% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 2%
• Languages at home: 95% English-only · Spanish 3% French/Haitian/Cajun 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: ▼ -61.27%
• Current HPI: 173.5938
• 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

+224.5% since first listed

6 events — show timeline

• 2026-04-10 Pending — Dayton MLS
• 2026-04-10 Pending — WRIST
• 2026-04-02 Listed $64,900 WRIST
• 2026-04-02 Listed $64,900 Dayton MLS
• 1999-09-23 Sold (Public Records) $69,500 Public Records
• 1982-02-16 Sold (Public Records) $20,000 Public Records

Property tax history

-7.4%/yr

Latest (2025): $1,036 · +30.0% YoY. Source: county tax records.