227-229 James St · Dayton, OH 45410

$284,900

6 bd · 2.0 ba · 3,392 sqft · MultiFamily · 7 Days on market

Built 1874 Good condition 6,098 sqft lot Est $278k · at est.

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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 +22.4/30.0
• DSCR +7.2/10.0
• ARV discount +6.4/15.0
• 1% rule +5.9/10.0
• Rent growth +5.0/5.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• 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

Don't miss out on this opportunity to own a classic duplex in Historic South Park! Perfectly suited for an owner-occupant looking to live in one side and rent the other, or an investor wanting a turnkey addition to their portfolio. Each unit features 3 spacious bedrooms, 1 bathroom, and grand 10-foot ceilings that flood the rooms with natural light. Buyers will love the character of the original wood trim, paired with generous room sizes you just don't find in newer builds. Situated in a vibrant, highly walkable neighborhood, you are just minutes from downtown Dayton, Miami Valley Hospital, and the University of Dayton.

Key facts

• Original wood trim
• Historic south park
• 10 foot ceilings

Tags

• CLASSIC DUPLEX
• HISTORIC SOUTH PARK
• 10 FOOT CEILINGS
• ORIGINAL WOOD TRIM
• HIGHLY WALKABLE NEIGHBORHOOD
• MINUTES FROM DOWNTOWN DAYTON

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: No garage
• Utilities: Public water; Sewer available (storm sewer)
• Home design: Two-story building; Single building containing two units
• Construction: Brick and stucco exterior; Unfinished basement
• Exterior features: Residential zoning; Lot approximately 0.14 acres (per assessor)

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Three-bedroom units (multi-unit property; two total units)
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Double-pane windows; Laminate countertops
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $285k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $474 ($6k/yr) — positive. Per door: $237/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $285k).

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 (+11.4%/yr); 92 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $3,092/mo this rent would consume 80% of the median local household income ($47k/yr) (locally 961% 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 $9k 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 $80k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1874 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $284,900

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 1874 — 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. 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?
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: 1.09% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.13%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $278,144
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
38 - 40 Greenwood Ave Unit 38 - 40	0.39mi	6/2.5	3,294 (-3%)	6mo	$267,650	$81	70
38 Greenwood Ave	0.39mi	6/2.5	3,294 (-3%)	6mo	$267,650	$81	70
38 - 40 Greenwood Ave	0.39mi	6/2.5	3,294 (-3%)	6mo	$267,650	$81	70
2 Glencoe Ave	0.49mi	6/3.5	3,408 (+0%)	1mo	$330,000	$97	69
1025-1027 Wayne Ave	0.10mi	6/2.0	3,077 (-9%)	14mo	$270,500	$88	68
558 Wyoming St #554	0.31mi	6/2.0	3,182 (-6%)	10mo	$289,000	$91	67
361 Park Dr	0.21mi	6/2.0	2,896 (-15%)	0mo	$238,000	$82	65

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $398
• Equity at exit: $42,480

10-year hold

• IRR: 14.4%
• Equity multiple: 2.43×
• Total profit: $113,765
• Equity at exit: $24,633

Cash invested: $79,772 (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 45410

• Home prices YoY: -21.4%
• Rents YoY: 11.4%
• Active inventory: 92
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $3,092 high
• Mortgage (P&I): −$1,494
• Tax est. 1.5%: −$356 /mo · $4,274/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$649
• Net cashflow: $474

Break-even live

Break-even rent $2,492

Max offer price $284,900

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,092
Total (2 units)			$3,092

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: $71,225
• Closing costs: $8,547
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1422 E 3rd St Dayton, OH	6.0	3.0	3327	$1,800	$0.54	14d	1	0.92mi

Listing history 7 events

1. 2026-06-18
   days on market $284,900 Active 7 DOM
2. 2026-06-17
   days on market $284,900 Active 6 DOM
3. 2026-06-16
   days on market $284,900 Active 5 DOM
4. 2026-06-15
   days on market $284,900 Active 4 DOM
5. 2026-06-14
   days on market $284,900 Active 2 DOM
6. 2026-06-13
   remarks 627-char remark
7. 2026-06-13
   listed $284,900 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $37,104
• − Mortgage interest: −$15,959
• − Property taxes: −$4,274
• − Insurance: −$1,424
• − Repairs & maintenance: −$2,968
• − Management: −$2,968
• − Depreciation: −$8,288
• Taxable income: $1,223
• Est. tax owed @ 24.0%: −$293
• After-tax cash flow: $5,392/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 · 12 photos

Good 75/100 Cosmetic rehab

This classic duplex in Historic South Park is in good condition with minimal repairs needed. Updates to kitchen and bathrooms, along with exterior painting and flooring, would significantly increase its resale and rental value.

Value-add opportunities

• Both update kitchen appliances — modernize and increase appeal
• Both update bathrooms with modern fixtures — modernize and increase appeal
• Both paint exterior — enhance curb appeal and value
• Both replace carpet with hardwood — increase value and reduce maintenance

Renovation cost estimate screening

Value-add ROI direction

• Both update kitchen appliances — modernize and increase appeal ↑
• Both update bathrooms with modern fixtures — modernize and increase appeal ↑
• Both paint exterior — enhance curb appeal and value ↑
• Both replace carpet with hardwood — increase value and reduce maintenance ↑

ⓘ 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): 14,694
• Household income: $46,651
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 961.0

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 (71%)
• Race & ethnicity: White 71% Black 15% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 2% Iranian 2% Slovak 2%
• Foreign-born: 5% · Canada, United Kingdom
• Languages at home: 91% English-only · Spanish 6% Tagalog/Filipino 1% Other Asian/Pacific 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: ▼ -100.61%
• Current HPI: 369.3938
• Rent YoY: ▲ 11.37%
• 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

1 event — show timeline

• 2026-06-11 Listed $284,900 Dayton MLS