802 Washington Ave · Piqua, OH 45356

$128,900

3 bd · 1.0 ba · 1,209 sqft · SingleFamily public records · 60 Days on market

Built 1920 6,534 sqft lot Est $184k · 30% under

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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 +20.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +4.6/10.0
• Schools +4.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into this delightful 2-bedroom, 1.5-story home offering a generous 2-car garage and an oversized wrap-around porch that adds both character and outdoor living space. Upstairs offers a convenient space for a den or additional recreational space. Perfect for enjoying peaceful mornings or hosting gatherings, this home combines classic charm with everyday convenience.

Key facts

• Den space
• Wrap-around porch
• Outdoor living space

Tags

• WRAP-AROUND PORCH
• DEN SPACE
• OUTDOOR LIVING SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $178 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (4.3% below list).
• Recommended offer: $123k (4.3% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 4.7% in Piqua — 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 62/100 on livability (#887 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Piqua City (rural): math 45% / reading 50% proficiency, ranked #482 of 656 in OH (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Piqua High School (math 12% / reading 57%, grade F, #582 of 781 statewide, top 76%, 876 students, 52% FRL) — zoned schools at 52% FRL track the district average.
• Zoned-school proficiency averages 34% at this address vs 48% district-wide (-13 pts) — the specific schools serving this property underperform the Piqua City average; the district grade overstates school quality for this exact location.
• Market conditions: 139 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 326 units permitted in Miami County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $891 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 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.
• Current owner paid $57k; list at $129k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,317 (4.3% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 0.96% ✗
• Cap rate: 7.95%
• Cash-on-cash: 5.90%
• DSCR: 1.26
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $183,768
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
802 Washington Ave	0.00mi	2/1.0 (-1)	1,209 (0%)	0mo	$125,900	$104	95
908 Camp St	0.24mi	2/1.0 (-1)	1,209 (0%)	2mo	$129,000	$107	82
1115 Madison Ave	0.24mi	3/1.0	1,248 (+3%)	3mo	$190,000	$152	81
735 Park Ave	0.36mi	3/1.5	1,154 (-4%)	2mo	$189,000	$164	72
825 W Greene St	0.38mi	3/1.5	1,254 (+4%)	3mo	$122,000	$97	72
411 Virginia St	0.39mi	3/1.5	1,150 (-5%)	2mo	$183,000	$159	70
651 Boone St	0.43mi	3/1.5	1,287 (+6%)	1mo	$198,400	$154	66
505 Scott St	0.54mi	2/1.0 (-1)	1,221 (+1%)	2mo	$75,000	$61	66
618 Cherry St	0.49mi	3/1.0	1,314 (+9%)	2mo	$149,900	$114	61
303 N Sunset Dr	0.73mi	3/1.0	1,263 (+4%)	1mo	$193,500	$153	58
1121 Broadway	0.58mi	3/1.0	1,330 (+10%)	1mo	$202,000	$152	55
224 Gordon St	0.73mi	3/1.0	1,388 (+15%)	2mo	$120,000	$86	40

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: -7.2%
• Equity multiple: 0.73×
• Total profit: $-9,619
• Equity at exit: $19,219

10-year hold

• IRR: 2.3%
• Equity multiple: 1.17×
• Total profit: $6,024
• Equity at exit: $11,145

Cash invested: $36,092 (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 45356

• Active inventory: 139
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,233 high
• Mortgage (P&I): −$676
• Tax from tax record: −$67 /mo · $804/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $178

Break-even live

Break-even rent $1,008

Max offer price $128,900

Occupancy floor 81%

Sensitivity live

Price	-10% $251	-5% $214	+0% $178	+5% $141	+10% $105
Rent	-10% $80	-5% $129	+0% $178	+5% $226	+10% $275
Rate	-1.0pp $242	-0.5pp $210	base $178	+0.5pp $144	+1.0pp $110

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: $32,225
• Closing costs: $3,867
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
918 W Greene St Piqua, OH	2.0	1.5	1270	$900	$0.71	16d	1	0.33mi
715 Walker St Piqua, OH	3.0	2.0	1100	$1,650	$1.50	5d	1	0.36mi
1103 Nicklin Ave Piqua, OH	2.0	1.0	850	$775	$0.91	23d	1	0.43mi
316 N College St Piqua, OH	2.0	1.0	782	$1,075	$1.37	4d	3	0.51mi
519 Ann St Piqua, OH	3.0	1.0	1388	$1,300	$0.94	4d	1	0.52mi
521-523 Wood St Piqua, OH	2.0	1.0	900	$950	$1.06	5d	1	0.79mi
436 Wood St Unit 3 Piqua, OH	2.0	1.0	720	$1,050	$1.46	45d	1	0.83mi
701 N Wayne St Unit 118 Piqua, OH	2.0	1.0	944	$1,095	$1.16	25d	1	0.86mi
200 E High St Piqua, OH	3.0	1.0	1500	$1,365	$0.91	5d	1	1.06mi
323 Westview Dr Piqua, OH	2.0	1.5	1174	$1,650	$1.41	4d	1	1.16mi
619 S Wayne St Piqua, OH	2.0	1.0	750	$1,050	$1.40	4d	1	1.30mi
317 Cleveland St Piqua, OH	2.0	1.0	1068	$1,200	$1.12	4d	1	1.34mi
717 S Downing St Piqua, OH	3.0	1.0	1212	$1,100	$0.91	4d	1	1.35mi
764 S Wayne St Piqua, OH	3.0	1.0	1203	$1,300	$1.08	45d	1	1.45mi

Listing history 14 events

1. 2026-04-24
   status Pending 371-char remark

   Show marketing remark (371 chars)

   Step into this delightful 2-bedroom, 1.5-story home offering a generous 2-car garage and an oversized wrap-around porch that adds both character and outdoor living space. Upstairs offers a convenient space for a den or additional recreational space. Perfect for enjoying peaceful mornings or hosting gatherings, this home combines classic charm with everyday convenience.

2. 2026-04-24
   status Pending

   Show marketing remark (371 chars)

   Step into this delightful 2-bedroom, 1.5-story home offering a generous 2-car garage and an oversized wrap-around porch that adds both character and outdoor living space. Upstairs offers a convenient space for a den or additional recreational space. Perfect for enjoying peaceful mornings or hosting gatherings, this home combines classic charm with everyday convenience.

3. 2026-04-24
   price $128,900 371-char remark

   Show marketing remark (371 chars)

   Step into this delightful 2-bedroom, 1.5-story home offering a generous 2-car garage and an oversized wrap-around porch that adds both character and outdoor living space. Upstairs offers a convenient space for a den or additional recreational space. Perfect for enjoying peaceful mornings or hosting gatherings, this home combines classic charm with everyday convenience.

4. 2026-04-24
   price $128,900

   Show marketing remark (371 chars)

   Step into this delightful 2-bedroom, 1.5-story home offering a generous 2-car garage and an oversized wrap-around porch that adds both character and outdoor living space. Upstairs offers a convenient space for a den or additional recreational space. Perfect for enjoying peaceful mornings or hosting gatherings, this home combines classic charm with everyday convenience.

5. 2026-04-10
   price $122,900

   Show marketing remark (371 chars)

   Step into this delightful 2-bedroom, 1.5-story home offering a generous 2-car garage and an oversized wrap-around porch that adds both character and outdoor living space. Upstairs offers a convenient space for a den or additional recreational space. Perfect for enjoying peaceful mornings or hosting gatherings, this home combines classic charm with everyday convenience.

6. 2026-04-10
   price $122,900 371-char remark

   Show marketing remark (371 chars)

   Step into this delightful 2-bedroom, 1.5-story home offering a generous 2-car garage and an oversized wrap-around porch that adds both character and outdoor living space. Upstairs offers a convenient space for a den or additional recreational space. Perfect for enjoying peaceful mornings or hosting gatherings, this home combines classic charm with everyday convenience.

7. 2026-03-18
   price $124,900

   Show marketing remark (371 chars)

   Step into this delightful 2-bedroom, 1.5-story home offering a generous 2-car garage and an oversized wrap-around porch that adds both character and outdoor living space. Upstairs offers a convenient space for a den or additional recreational space. Perfect for enjoying peaceful mornings or hosting gatherings, this home combines classic charm with everyday convenience.

8. 2026-03-18
   price $124,900 371-char remark

   Show marketing remark (371 chars)

   Step into this delightful 2-bedroom, 1.5-story home offering a generous 2-car garage and an oversized wrap-around porch that adds both character and outdoor living space. Upstairs offers a convenient space for a den or additional recreational space. Perfect for enjoying peaceful mornings or hosting gatherings, this home combines classic charm with everyday convenience.

9. 2026-03-02
   price $129,900

   Show marketing remark (371 chars)

   Step into this delightful 2-bedroom, 1.5-story home offering a generous 2-car garage and an oversized wrap-around porch that adds both character and outdoor living space. Upstairs offers a convenient space for a den or additional recreational space. Perfect for enjoying peaceful mornings or hosting gatherings, this home combines classic charm with everyday convenience.

10. 2026-03-02
    price $129,900 371-char remark

    Show marketing remark (371 chars)

    Step into this delightful 2-bedroom, 1.5-story home offering a generous 2-car garage and an oversized wrap-around porch that adds both character and outdoor living space. Upstairs offers a convenient space for a den or additional recreational space. Perfect for enjoying peaceful mornings or hosting gatherings, this home combines classic charm with everyday convenience.

11. 2026-02-23
    listed $134,900 Active 371-char remark

    Show marketing remark (371 chars)

    Step into this delightful 2-bedroom, 1.5-story home offering a generous 2-car garage and an oversized wrap-around porch that adds both character and outdoor living space. Upstairs offers a convenient space for a den or additional recreational space. Perfect for enjoying peaceful mornings or hosting gatherings, this home combines classic charm with everyday convenience.

12. 2026-02-23
    listed $134,900 Active

    Show marketing remark (371 chars)

    Step into this delightful 2-bedroom, 1.5-story home offering a generous 2-car garage and an oversized wrap-around porch that adds both character and outdoor living space. Upstairs offers a convenient space for a den or additional recreational space. Perfect for enjoying peaceful mornings or hosting gatherings, this home combines classic charm with everyday convenience.

13. 1995-08-17
    soldstatus $57,000
14. 1986-10-23
    soldstatus $20,200

ⓘ 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: $804 · $67/mo
• Projected year-2 tax: $1,407 · $117/mo
• Expected delta: +$603/yr (+$50/mo · 75.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 47% 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
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,798
• − Mortgage interest: −$7,220
• − Property taxes: −$804
• − Insurance: −$644
• − Repairs & maintenance: −$1,184
• − Management: −$1,184
• − Depreciation: −$3,750
• Taxable income: $12
• Est. tax owed @ 24.0%: −$3
• After-tax cash flow: $2,128/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: Piqua City
• NCES district ID: 3904464
• Math proficiency: 45% ▼ -11.00%
• Reading proficiency: 50% ▼ -7.00%
• Median HH income: $41,751
• Composite: 39.91/100
• National rank: #3855
• State rank: #482 of 656 in OH

Livability — Piqua

• Score: 62/100
• State rank: #887
• US rank: #16830

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Piqua, OH
• County: Miami County · 85,667 people
• City population: 25,237
• Metro: Dayton-Kettering, OH
• Population (ZIP): 25,237
• Household income: $69,188
• Rent vs Own: 29.4% rent · 70.6% own
• Severe rent burden: 748.0

Population outlook (Miami County) Hauer SSP2

• Today (2025): 107,816 people
• By 2030: 108,896 · +1.0%
• By 2040: 109,581 · +1.6%
• By 2050: 108,110 · +0.3%
• By 2075: 101,523 · -5.8%
• By 2100: 85,787 · -20.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 3% Black 2% Hispanic / Latino 1%
• Common ancestry: Iranian 2% Italian 2% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1% Vietnamese 0%

Political lean MEDSL · Miami

• 2024 margin: Solid R (+45.1) · D 27.0% · R 72.1%
• 2008→2024 swing: -16.6pp toward R · 2008: -28.5pp · 2024: -45.1pp
• All cycles: 2024: R+45.1 2020: R+44.3 2016: R+45.6 2012: R+35.6 2008: R+28.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -137.96%
• Current HPI: 251.435
• 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

+538.1% since first listed

14 events — show timeline

• 2026-04-24 Pending — WRIST
• 2026-04-24 Pending — Dayton MLS
• 2026-04-24 Price Changed $128,900 Dayton MLS
• 2026-04-24 Price Changed $128,900 WRIST
• 2026-04-10 Price Changed $122,900 Dayton MLS
• 2026-04-10 Price Changed $122,900 WRIST
• 2026-03-18 Price Changed $124,900 Dayton MLS
• 2026-03-18 Price Changed $124,900 WRIST
• 2026-03-02 Price Changed $129,900 Dayton MLS
• 2026-03-02 Price Changed $129,900 WRIST
• 2026-02-23 Listed $134,900 Dayton MLS
• 2026-02-23 Listed $134,900 WRIST
• 1995-08-17 Sold (Public Records) $57,000 Public Records
• 1986-10-23 Sold (Public Records) $20,200 Public Records

Property tax history

+6.1%/yr

Latest (2025): $804 · +10.0% YoY. Source: county tax records.