209 W Main St · Trotwood, OH 45426

$189,900

4 bd · 2.0 ba · 2,484 sqft · MultiFamily public records · 27 Days on market

Built 1913 7,950 sqft lot

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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 +27.7/30.0
• DSCR +9.8/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• 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

Renovated duplex featuring one 2-bedroom unit and one 3-bedroom unit - Perfect house hack opportunity to live in one side and rent the other - With tenant placement already completed for you! Property was renovated + updated in 2020/21, as well as maintaining general repairs and upkeep over the course of ownership - 209 W Main bathroom completely updated, rent-ready checklist completed prior to move-in; Rent-ready checklist completed along with fresh paint/drywall cleanup in 2 Oak (2026). Currently professionally managed, can provide financials and any update lists upon request - 209 W Main tenant leased for $1025/month until 4/30/2027, 2 Oak previously rented for $975/month but will remain

Key facts

• Renovated
• Updated
• Income producing

Tags

• RENOVATED
• UPDATED
• BATHROOM COMPLETELY UPDATED
• INCOME PRODUCING
• WELL CARED FOR

Property features AI

Finance

• Financial info: Gross income reported: $24,780; Offered for sale

Exterior

• Parking: Detached two-car garage
• Home design: Two-story building; Frame construction with vinyl siding; Cellar foundation
• Construction: Frame construction; Vinyl siding; Cellar foundation
• Exterior features: Residential zoning; Lot approximately 0.1825 acres

Interior

• Bedrooms: One unit with two bedrooms and one unit with three bedrooms
• Bathrooms: Two full bathrooms (total)
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Multi-family property with two units in one building

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $575 ($7k/yr) — positive. Per door: $287/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 6.5% in Trotwood — 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 59/100 on livability (#1,014 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: employment D, schools F, crime F.
• Trotwood-Madison City (suburban): math 9% / reading 21% proficiency, ranked #645 of 656 in OH (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 48 active listings in the ZIP; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $2,356/mo this rent would consume 54% of the median local household income ($52k/yr) (locally 852% 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 $6k 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 $53k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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 $57k; list at $190k implies a 234% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $187,051 (1.5% below list)

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 1913 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 1.24% ✓
• Cap rate: 9.92%
• Cash-on-cash: 12.97%
• DSCR: 1.58
• GRM: 6.7

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: 2.9%
• Equity multiple: 1.11×
• Total profit: $5,839
• Equity at exit: $28,315

10-year hold

• IRR: 12.4%
• Equity multiple: 1.98×
• Total profit: $52,283
• Equity at exit: $16,419

Cash invested: $53,172 (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 45426

• Home prices YoY: -12.0%
• Active inventory: 48
• Price-to-rent: 14.2×

Monthly cashflow live

• Estimated rent: $2,356 high
• Mortgage (P&I): −$996
• Tax from tax record: −$212 /mo · $2,541/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $575

Break-even live

Break-even rent $1,629

Max offer price $189,900

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,114
1× unit	3	1	$1,241
Total (2 units)			$2,356

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-18
   days on market $189,900 Active 27 DOM
2. 2026-06-17
   days on market $189,900 Active 26 DOM
3. 2026-06-16
   pricedays on market $189,900 Active 25 DOM
4. 2026-06-15
   days on market $194,900 Active 24 DOM
5. 2026-06-14
   days on market $194,900 Active 22 DOM
6. 2026-06-13
   days on market $194,900 Active 21 DOM
7. 2026-06-10
   days on market $194,900 Active 19 DOM
8. 2026-06-09
   days on market $194,900 Active 18 DOM
9. 2026-06-08
   days on market $194,900 Active 17 DOM
10. 2026-06-07
    days on market $194,900 Active 16 DOM
11. 2026-06-03
    days on market $194,900 Active 12 DOM
12. 2026-06-02
    days on market $194,900 Active 11 DOM
13. 2026-06-01
    days on market $194,900 Active 10 DOM
14. 2026-05-31
    days on market $194,900 Active 9 DOM
15. 2026-05-31
    days on market $194,900 Active 8 DOM
16. 2026-05-22
    listed $194,900 Active
17. 2026-03-24
    historical $1,025
18. 2026-03-14
    price $1,025
19. 2026-01-10
    price $1,050
20. 2025-12-12
    price $1,070
21. 2025-12-02
    price $1,075
22. 2025-12-01
    historical
23. 2025-10-16
    listed $1,100
24. 2025-08-19
    price $174,900
25. 2025-07-08
    price $179,900
26. 2025-05-29
    price $184,900
27. 2025-04-05
    listed $189,900 Active
28. 2024-01-29
    historical $1,090
29. 2024-01-15
    price $1,090
30. 2024-01-09
    price $1,095
31. 2023-12-12
    listed $1,100
32. 2021-05-13
    soldstatus $56,800
33. 1979-11-05
    soldstatus $25,400
34. 1979-11-05
    soldstatus $25,400

ⓘ 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: $2,541 · $212/mo
• Projected year-2 tax: $2,752 · $229/mo
• Expected delta: +$211/yr (+$18/mo · 8.3%)

ⓘ 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 ≥101°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: $28,272
• − Mortgage interest: −$10,637
• − Property taxes: −$2,541
• − Insurance: −$950
• − Repairs & maintenance: −$2,262
• − Management: −$2,262
• − Depreciation: −$5,524
• Taxable income: $4,096
• Est. tax owed @ 24.0%: −$983
• After-tax cash flow: $5,911/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: Trotwood-Madison City
• NCES district ID: 3904869
• Math proficiency: 9% ▼ -15.00%
• Reading proficiency: 21% ▼ -11.00%
• Median HH income: $33,529
• Composite: 12.15/100
• National rank: #9651
• State rank: #645 of 656 in OH

Livability — Trotwood

• Score: 59/100
• State rank: #1014
• US rank: #20073

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D Housing A Health & safety F User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Trotwood, OH
• County: Montgomery County · 459,541 people
• City population: 19,754
• Metro: Dayton-Kettering, OH
• Population (ZIP): 14,114
• Household income: $51,908
• Rent vs Own: 44.7% rent · 55.3% own
• Severe rent burden: 852.0

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 (69%)
• Race & ethnicity: Black 69% White 22% Two or more races 7% Asian 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 1% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Other Asian/Pacific 1% Spanish 1% 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: ▼ -44.94%
• Current HPI: 329.0106
• 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

+667.3% since first listed

19 events — show timeline

• 2026-05-22 Listed $194,900 Dayton MLS
• 2026-03-24 Rental Removed $1,025 DAYTONMLS
• 2026-03-14 Price Changed $1,025 DAYTONMLS
• 2026-01-10 Price Changed $1,050 DAYTONMLS
• 2025-12-12 Price Changed $1,070 DAYTONMLS
• 2025-12-02 Price Changed $1,075 DAYTONMLS
• 2025-12-01 Listing Removed — Dayton MLS
• 2025-10-16 Listed for Rent $1,100 DAYTONMLS
• 2025-08-19 Price Changed $174,900 Dayton MLS
• 2025-07-08 Price Changed $179,900 Dayton MLS
• 2025-05-29 Price Changed $184,900 Dayton MLS
• 2025-04-05 Listed $189,900 Dayton MLS
• 2024-01-29 Rental Removed $1,090 DAYTONMLS
• 2024-01-15 Price Changed $1,090 DAYTONMLS
• 2024-01-09 Price Changed $1,095 DAYTONMLS
• 2023-12-12 Listed for Rent $1,100 DAYTONMLS
• 2021-05-13 Sold (Public Records) $56,800 Public Records
• 1979-11-05 Sold (Public Records) $25,400 Public Records
• 1979-11-05 Sold (Public Records) $25,400 Public Records

Property tax history

+2.9%/yr

Latest (2025): $2,541 · -0.2% YoY. Source: county tax records.