3435 Marshall Rd · Kettering, OH 45429

$655,600

64 bd · 1.0 ba · 6,200 sqft · MultiFamily public records · 3 Days on market

Built 1995 0.49 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• 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: 8 units. confirmed

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

Investment Opportunity! Located in the City of Kettering, this 8-unit multifamily investment opportunity offers convenient access to shopping, dining, employment centers, and major transportation routes. Nearby amenities include Lincoln Park, the Fraze Pavilion, and Delco Park, providing recreational and entertainment options for residents. The property is also located within close proximity to Meijer, national and local dining establishments, and everyday retail services, enhancing tenant convenience and long-term rental appeal. This two-story multifamily building consists of eight one-bedroom units and presents a value-add opportunity for investors seeking to renovate, reposition, and enh

Key facts

• Nearby amenities
• Convenient access
• Private patio area

Tags

• INVESTMENT OPPORTUNITY
• MULTIFAMILY INVESTMENT
• CONVENIENT ACCESS
• NEARBY AMENITIES
• RECREATIONAL OPTIONS
• PRIVATE PATIO AREA

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: No garage
• Utilities: Natural gas available; Public water; Water service available
• Home design: Multi-unit property (1 building); Two total stories; Entry on main level
• Construction: Brick and frame construction; Slab foundation; Built as a multi-family property
• Exterior features: Residential zoning; Lot dimensions approximately 87.5, 70, 78.54, 41.83, 16.73, 201.55

Interior

• Bedrooms: Eight one-bedroom units
• Bathrooms: Eight full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Heat pump; Natural gas heating
• Interior features: Two-story building

What this means for you Summary

Snapshot

• This is a 8 × 1-bed/1.0-bath units multifamily listed at $656k.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive. Per door: $327/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $656k).
• Cap rate 11.1% 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: 81 active listings in the ZIP; solid renter incomes; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $9,289/mo this rent would consume 139% of the median local household income ($80k/yr) (locally 889% 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 $5k of loan paydown is wiped out by about $20k 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 $184k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $48k; list at $656k implies a 1266% gain — meaningful room to come down on a strong offer.

Recommended offer $655,600

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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.42% ✓
• Cap rate: 11.08%
• Cash-on-cash: 17.10%
• DSCR: 1.76
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 8.4%
• Equity multiple: 1.33×
• Total profit: $60,638
• Equity at exit: $97,752

10-year hold

• IRR: 17.7%
• Equity multiple: 2.46×
• Total profit: $268,393
• Equity at exit: $56,684

Cash invested: $183,568 (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 45429

• Active inventory: 81
• Price-to-rent: 47.1×

Monthly cashflow live

• Estimated rent: $9,289 high
• Mortgage (P&I): −$3,438
• Tax from tax record: −$1,011 /mo · $12,133/yr
• Insurance: −$273
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,951
• Net cashflow: $2,616

Break-even live

Break-even rent $5,978

Max offer price $655,600

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 8× units	1	1	$9,288
Total (8 units)			$9,289

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: $163,900
• Closing costs: $19,668
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-18
   days on market $655,600 Active 3 DOM
2. 2026-06-17
   days on market $655,600 Active 2 DOM
3. 2026-06-15
   remarks 699-char remark
4. 2026-06-15
   listed $655,600 Active 1 DOM

ⓘ 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: $12,133 · $1,011/mo
• Projected year-2 tax: $12,133 · $1,011/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 ≥100°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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $111,468
• − Mortgage interest: −$36,724
• − Property taxes: −$12,133
• − Insurance: −$3,278
• − Repairs & maintenance: −$8,917
• − Management: −$8,917
• − Depreciation: −$19,072
• Taxable income: $22,426
• Est. tax owed @ 24.0%: −$5,382
• After-tax cash flow: $26,010/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): 26,347
• Household income: $80,210
• Rent vs Own: 30.2% rent · 69.8% own
• Severe rent burden: 889.0

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 (86%)
• Race & ethnicity: White 86% Two or more races 5% Black 5% Hispanic / Latino 3% Asian 2%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 95% English-only · Spanish 2% Arabic 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: ▼ -172.24%
• Current HPI: 274.1505
• 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

+1265.8% since first listed

3 events — show timeline

• 2026-06-15 Listed $655,600 Dayton MLS
• 1993-12-01 Sold (Public Records) $48,000 Public Records
• 1993-12-01 Sold (Public Records) $48,000 Public Records

Property tax history

-1.0%/yr

Latest (2025): $12,133 · -0.3% YoY. Source: county tax records.