801-803 Winston Dr · Fairborn, OH 45324

$179,000

6 bd · 2.0 ba · 1,911 sqft · MultiFamily public records · 8 Days on market

Built 1945 8,400 sqft lot Est $357k · 50% under

---

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
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Rent growth +3.9/5.0
• Schools +3.6/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• 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 MLS

Discover this charming brick duplex located just minutes from downtown Fairborn, offering easy access to restaurants, shopping, and local amenities. Each unit features 3 bedrooms and 1 full bathroom, providing a practical and comfortable layout for residents. Whether you're looking to invest or live in one side while renting the other, this well-situated property offers excellent potential in a convenient location. Unit 801 - Tenant signed a 1 year lease that is good through 5/31/2026. Currently paying $725 per month. Stove and refrigerator to convey. Unit 803 - Tenant is month to month, currently paying $800 per month. Stove and refrigerator to convey.

Key facts

• Fenced yard
• Brick duplex
• New break panel

Tags

• BRICK DUPLEX
• FENCED YARD
• NEW BREAK PANEL
• NEW ROOF

🏷️ Possibly a rental listed for sale. The $179,000 price doesn't fit this home's estimated sale value (~$357,357) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $179k.

Deal economics

• At list price, monthly cash flow is $886 ($11k/yr) — positive. Per door: $443/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $179k).
• Cap rate 12.2% vs local median 3.7% in Fairborn — 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 72/100 on livability (#374 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools D+, employment D+.
• Fairborn City (suburban): math 36% / reading 49% proficiency, ranked #520 of 656 in OH (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.8%/yr); 180 active listings in the ZIP; 797 units permitted in Greene County in 2024 (148 in 5+ unit buildings).
• At $2,631/mo this rent would consume 49% of the median local household income ($65k/yr) (locally 1472% 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 $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $50k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 $145k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $179,000

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 1945 — 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 D-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. 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: 1.47% ✓
• Cap rate: 12.23%
• Cash-on-cash: 21.21%
• DSCR: 1.94
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $357,357
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
721 Winston Dr #719	0.01mi	6/2.0	1,911 (0%)	10mo	$145,000	$76	91
711 N Central Ave	0.19mi	5/3.0 (-1)	1,764 (-8%)	1mo	$329,000	$187	68

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 · 5.75% rent growth · sell at horizon

5-year hold

• IRR: 16.7%
• Equity multiple: 1.70×
• Total profit: $34,916
• Equity at exit: $26,689

10-year hold

• IRR: 27.2%
• Equity multiple: 3.71×
• Total profit: $135,591
• Equity at exit: $15,477

Cash invested: $50,120 (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 45324

• Rents YoY: 5.8%
• Active inventory: 180
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $2,631 high
• Mortgage (P&I): −$939
• Tax from tax record: −$179 /mo · $2,151/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$553
• Net cashflow: $886

Break-even live

Break-even rent $1,509

Max offer price $179,000

Occupancy floor 61%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,632
Total (2 units)			$2,631

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-03-30
   status Pending
2. 2026-03-22
   status Active
3. 2026-03-15
   status Pending
4. 2026-03-11
   listed $179,000 Active
5. 2026-01-18
   price $179,000
6. 2025-08-15
   soldstatus $145,000 Closed 661-char remark

   Show marketing remark (661 chars)

   Discover this charming brick duplex located just minutes from downtown Fairborn, offering easy access to restaurants, shopping, and local amenities. Each unit features 3 bedrooms and 1 full bathroom, providing a practical and comfortable layout for residents. Whether you're looking to invest or live in one side while renting the other, this well-situated property offers excellent potential in a convenient location. Unit 801 - Tenant signed a 1 year lease that is good through 5/31/2026. Currently paying $725 per month. Stove and refrigerator to convey. Unit 803 - Tenant is month to month, currently paying $800 per month. Stove and refrigerator to convey.

7. 2025-07-03
   status Pending 661-char remark

   Show marketing remark (661 chars)

   Discover this charming brick duplex located just minutes from downtown Fairborn, offering easy access to restaurants, shopping, and local amenities. Each unit features 3 bedrooms and 1 full bathroom, providing a practical and comfortable layout for residents. Whether you're looking to invest or live in one side while renting the other, this well-situated property offers excellent potential in a convenient location. Unit 801 - Tenant signed a 1 year lease that is good through 5/31/2026. Currently paying $725 per month. Stove and refrigerator to convey. Unit 803 - Tenant is month to month, currently paying $800 per month. Stove and refrigerator to convey.

8. 2025-06-06
   listed $179,900 Active 661-char remark

   Show marketing remark (661 chars)

   Discover this charming brick duplex located just minutes from downtown Fairborn, offering easy access to restaurants, shopping, and local amenities. Each unit features 3 bedrooms and 1 full bathroom, providing a practical and comfortable layout for residents. Whether you're looking to invest or live in one side while renting the other, this well-situated property offers excellent potential in a convenient location. Unit 801 - Tenant signed a 1 year lease that is good through 5/31/2026. Currently paying $725 per month. Stove and refrigerator to convey. Unit 803 - Tenant is month to month, currently paying $800 per month. Stove and refrigerator to convey.

ⓘ 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: $2,151 · $179/mo
• Projected year-2 tax: $2,472 · $206/mo
• Expected delta: +$321/yr (+$27/mo · 14.9%)

ⓘ 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 4/10 Moderate 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,572
• − Mortgage interest: −$10,027
• − Property taxes: −$2,151
• − Insurance: −$895
• − Repairs & maintenance: −$2,526
• − Management: −$2,526
• − Depreciation: −$5,207
• Taxable income: $8,241
• Est. tax owed @ 24.0%: −$1,978
• After-tax cash flow: $8,654/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: Fairborn City
• NCES district ID: 3904396
• Math proficiency: 36% ▼ -17.00%
• Reading proficiency: 49% ▼ -10.00%
• Median HH income: $45,091
• Composite: 36.05/100
• National rank: #4772
• State rank: #520 of 656 in OH

Livability — Fairborn

• Score: 72/100
• State rank: #374
• US rank: #6101

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairborn, OH
• County: Greene County · 132,120 people
• City population: 41,194
• Metro: Dayton-Kettering, OH
• Population (ZIP): 41,194
• Household income: $64,979
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 1472.0

Population outlook (Greene County) Hauer SSP2

• Today (2025): 170,301 people
• By 2030: 171,840 · +0.9%
• By 2040: 171,408 · +0.7%
• By 2050: 167,806 · -1.5%
• By 2075: 154,430 · -9.3%
• By 2100: 138,669 · -18.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 9% Black 8% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 94% English-only · Spanish 1% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Greene

• 2024 margin: R (+19.8) · D 39.5% · R 59.3% · Other 1.2%
• 2008→2024 swing: -1.4pp toward R · 2008: -18.4pp · 2024: -19.8pp
• All cycles: 2024: R+19.8 2020: R+19.5 2016: R+24.5 2012: R+21.8 2008: R+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -157.48%
• Current HPI: 228.0801
• Rent YoY: ▲ 5.75%
• 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

-0.5% since first listed

8 events — show timeline

• 2026-03-30 Pending — Dayton MLS
• 2026-03-22 Relisted — Dayton MLS
• 2026-03-15 Pending — Dayton MLS
• 2026-03-11 Listed $179,000 Dayton MLS
• 2026-01-18 Price Changed $179,000 Dayton MLS
• 2025-08-15 Sold (MLS) $145,000 Dayton MLS
• 2025-07-03 Pending — Dayton MLS
• 2025-06-06 Listed $179,900 Dayton MLS

Property tax history

+0.6%/yr

Latest (2025): $2,151 · +0.7% YoY. Source: county tax records.