365 Adelite Ave · Dayton, OH 45417

$28,950

3 bd · 1.0 ba · 1,220 sqft · SingleFamily public records · 3 Days on market

Built 1919 4,447 sqft lot Est $50k · 42% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Calling all investors and dreamers. This large 3 bed 1 bath home has had a roof and siding replacement in 2023. The property also features a new tub (not installed). Bring your interior dreams to life. Plenty of room to add a half bath off near the rear door. Investor special: Cash or hard money only; being sold as-is. Property has legal orders from the City of Dayton that will require a permit to remove.

Key facts

• Add a half bath
• New tub
• 4,447 sq ft lot

Tags

• ROOF AND SIDING REPLACEMENT
• NEW TUB
• ADD A HALF BATH

Property features AI

Finance

• Financial info: Property is offered for sale

Exterior

• Parking: No garage
• Utilities: Natural gas available
• Home design: Two-story home; Vinyl siding exterior; Residential zoning
• Construction: Vinyl siding construction
• Exterior features: Residential lot approximately 32 x 139 (0.1021 acres)

Interior

• Bedrooms: Three bedrooms, each approximately 10 x 10 (all on the second floor)
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Natural gas heating
• Interior features: Double-hung windows with wood frames; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $29k.

Deal economics

• At list price, monthly cash flow is $697 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $29k).
• Cap rate 35.2% vs local median 7.3% in Dayton — 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 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: amenities C-, crime F, commute 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.
• Zoned schools: River'S Edge Montessori Elementary School (math 22% / reading 32%, grade F, #1,193 of 1,584 statewide, top 76%, 494 students, 0% FRL); Wogaman Middle School (math 8% / reading 12%, grade F, #645 of 654 statewide, top 99%, 364 students, 0% FRL); Belmont High School (math 5% / reading 20%, grade F, #720 of 781 statewide, top 93%, 1,100 students, 0% FRL) — zoned schools average 0% FRL vs 74% district-wide (74 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.1%/yr); 140 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• This rent runs 38% of the median local income ($37k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $200 of loan paydown is wiped out by about $868 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 + 4.1% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $28,950

Questions for the listing agent

1. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 4.01% ✓
• Cap rate: 35.20%
• Cash-on-cash: 103.26%
• DSCR: 5.59
• GRM: 2.1

CMA / ARV

• ARV (on-the-fly): $50,020
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
236 S Ardmore Ave	0.11mi	3/1.0	1,192 (-2%)	0mo	$45,000	$38	91
2230 Lakeview Ave	0.27mi	3/1.0	1,102 (-10%)	5mo	$40,000	$36	67
493 S Kilmer St	0.19mi	2/1.0 (-1)	1,344 (+10%)	7mo	$54,500	$41	64
32 S Plaza Ave	0.66mi	2/1.0 (-1)	1,218 (-0%)	3mo	$34,000	$28	62
32 Anna St	0.50mi	3/1.0	1,140 (-7%)	8mo	$10,000	$9	59
200 N Orchard Ave	0.71mi	3/1.5	1,256 (+3%)	4mo	$35,000	$28	57
467 Groveland Ave	0.44mi	3/1.5	1,368 (+12%)	2mo	$50,000	$37	55
113 Anna St	0.59mi	3/1.0	1,344 (+10%)	5mo	$88,000	$65	51
1045 Bunche Dr	0.64mi	3/2.0	1,355 (+11%)	2mo	$171,900	$127	46
1315 Clement Ave	0.69mi	4/2.0 (+1)	1,344 (+10%)	2mo	$110,000	$82	40
1126 Glennelle Dr	0.75mi	3/2.0	1,355 (+11%)	5mo	$171,900	$127	38
58 Hallwood Ave	0.66mi	3/1.0	1,392 (+14%)	12mo	$70,000	$50	35

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 · 4.06% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.06×
• Total profit: $41,013
• Equity at exit: $4,317

10-year hold

• IRR: —
• Equity multiple: 13.12×
• Total profit: $98,279
• Equity at exit: $2,503

Cash invested: $8,106 (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 45417

• Home prices YoY: -32.3%
• Rents YoY: 4.1%
• Active inventory: 140
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,160 high
• Mortgage (P&I): −$152
• Tax from tax record: −$55 /mo · $664/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $697

Break-even live

Break-even rent $278

Max offer price $28,950

Occupancy floor 35%

Sensitivity live

Price	-10% $714	-5% $706	+0% $697	+5% $689	+10% $681
Rent	-10% $606	-5% $652	+0% $697	+5% $743	+10% $789
Rate	-1.0pp $712	-0.5pp $705	base $697	+0.5pp $690	+1.0pp $682

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: $7,238
• Closing costs: $868
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
652 Dennison Ave Dayton, OH	2.0	2.0	988	$1,095	$1.11	22d	1	0.17mi
673 Randolph St Dayton, OH	2.0	1.0	792	$950	$1.20	45d	1	0.22mi
623 Clifton Dr Apt A Dayton, OH	2.0	1.0	1200	$1,200	$1.00	4d	1	0.27mi
623 Clifton Dr Apt B Dayton, OH	2.0	1.0	1200	$1,174	$0.98	4d	1	0.27mi
2240 Lakeview Ave Dayton, OH	3.0	1.0	1056	$1,025	$0.97	45d	1	0.29mi
42 S Mathison St Dayton, OH	3.0	1.0	1300	$1,220	$0.94	4d	1	0.45mi
40 S Mathison St Dayton, OH	3.0	1.0	1300	$1,200	$0.92	15d	1	0.45mi
70 Gramont Ave Dayton, OH	3.0	1.5	966	$1,300	$1.35	4d	1	0.55mi
47 Leroy St Dayton, OH	3.0	1.0	1456	$1,200	$0.82	45d	1	0.67mi
137 Westwood Ave Dayton, OH	2.0	1.0	784	$900	$1.15	4d	1	0.68mi
216 N Ardmore Ave Dayton, OH	3.0	1.0	1500	$1,100	$0.73	4d	1	0.70mi
1515 W Stewart St Dayton, OH	2.0	1.0	925	$1,000	$1.08	45d	1	0.70mi
1272 Clement Ave Dayton, OH	3.0	1.0	1025	$1,350	$1.32	4d	1	0.70mi
500 Bowie Dr Unit 122 Dayton, OH	2.0	1.0	850	$910	$1.07	45d	1	0.91mi
437 Lorenz Ave Dayton, OH	3.0	1.0	1322	$1,200	$0.91	25d	1	0.95mi
342 Lookout Ave Dayton, OH	2.0	1.0	800	$750	$0.94	4d	1	1.06mi
342 Lookout Ave Dayton, OH	2.0	1.0	800	$775	$0.97	45d	1	1.06mi
725 Maplehurst Ave Dayton, OH	2.0	1.0	1104	$895	$0.81	45d	1	1.07mi
617 Westwood Ave Dayton, OH	3.0	1.0	1304	$1,050	$0.81	45d	1	1.17mi
635 Anna St Dayton, OH	3.0	1.0	960	$1,300	$1.35	15d	1	1.26mi
828 Walton Ave Unit 832 Walton Dayton, OH	2.0	1.0	750	$795	$1.06	25d	1	1.30mi
660 Gramont Ave Dayton, OH	3.0	1.0	1142	$1,050	$0.92	4d	1	1.30mi
4109 Midway Ave Dayton, OH	3.0	1.0	971	$1,000	$1.03	4d	1	1.31mi
863 N Upland Ave Dayton, OH	3.0	1.0	1042	$1,200	$1.15	45d	1	1.39mi
1119 Superior Ave Unit 1119 Dayton, OH	3.0	1.0	1435	$1,350	$0.94	4d	1	1.42mi
920 Huron Ave Dayton, OH	2.0	1.0	950	$995	$1.05	4d	1	1.43mi
3925 Hoover Ave Dayton, OH	2.0	1.0	936	$1,100	$1.18	4d	1	1.44mi
1045 Philadelphia Dr Dayton, OH	2.0	1.0	1290	$1,150	$0.89	4d	1	1.47mi
3939 Nicholas Rd Dayton, OH	3.0	1.0	912	$1,200	$1.32	45d	1	1.47mi
1045 Shakespeare Ave Dayton, OH	3.0	1.0	1435	$1,275	$0.89	45d	1	1.48mi

Listing history 3 events

1. 2026-06-22
   days on market $28,950 Active 3 DOM
2. 2026-06-19
   remarks 408-char remark
3. 2026-06-19
   listed $28,950 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: $664 · $55/mo
• Projected year-2 tax: $664 · $55/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 4/10 Moderate 7 d/yr ≥104°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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,925
• − Mortgage interest: −$1,622
• − Property taxes: −$664
• − Insurance: −$145
• − Repairs & maintenance: −$1,114
• − Management: −$1,114
• − Depreciation: −$842
• Taxable income: $8,424
• Est. tax owed @ 24.0%: −$2,022
• After-tax cash flow: $6,348/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: 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): 28,186
• Household income: $36,945
• Rent vs Own: 52.1% rent · 47.9% own
• Severe rent burden: 1822.0

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 (71%)
• Race & ethnicity: Black 71% White 20% Two or more races 8% Hispanic / Latino 3%
• Common ancestry: Romanian 0%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% 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: ▼ -92.43%
• Current HPI: 193.4175
• Rent YoY: ▲ 4.06%
• 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

• 2026-06-18 Listed $28,950 Dayton MLS

Property tax history

-0.9%/yr

Latest (2025): $664 · +0.1% YoY. Source: county tax records.