63 Mcowen St · Dayton, OH 45405

$105,000

4 bd · 2.0 ba · 2,058 sqft · MultiFamily public records · 46 Days on market

Built 1900 5,358 sqft lot $51/sqft · 30% below area Est $152k · 31% 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 +3.6/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Step into the opportunity of owning this traditional large2 story home located minutes from downtown Dayton, dinning, shopping, and major routes. This home offers 6 bedrooms and two full baths, large living room for your preferred design. Being sold as is. Enjoy relaxing mornings on the covered porch. Owner has done many updates. All room sizes are approximate.

Key facts

• Covered porch
• Updates
• Large living room

Tags

• COVERED PORCH
• LARGE LIVING ROOM
• UPDATES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $105k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $105k).
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• Cap rate 23.8% vs local median 7.4% 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: schools C-, amenities C-, crime 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.
• Market conditions: Rents rising fast (+4.3%/yr); 134 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $2,771/mo this rent would consume 76% of the median local household income ($44k/yr) (locally 1475% 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 $726 of loan paydown is wiped out by about $3k 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 + 4.3% rent growth), your $29k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($102k) 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,850 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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 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: 2.64% ✓
• Cap rate: 23.79%
• Cash-on-cash: 62.48%
• DSCR: 3.78
• GRM: 3.2

CMA / ARV

• ARV (median comp): $152,361
• List price: $105,000
• Delta: -31.08%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21-23 Girard Ct	0.13mi	4/2.0	1,918 (-7%)	21mo	$65,000	$34	65
63 Drake Ave	0.20mi	5/3.0 (+1)	2,178 (+6%)	22mo	$100,000	$46	54
29 Palmer St #27	0.60mi	4/2.0	2,232 (+8%)	6mo	$179,900	$81	53
22 Ridge Ave	0.39mi	3/3.0 (-1)	1,890 (-8%)	18mo	$169,495	$90	44
130 Richmond Ave #128	0.64mi	4/2.0	2,348 (+14%)	12mo	$82,722	$35	36

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 · 4.34% rent growth · sell at horizon

5-year hold

• IRR: 62.9%
• Equity multiple: 3.87×
• Total profit: $84,261
• Equity at exit: $15,656

10-year hold

• IRR: 67.8%
• Equity multiple: 8.31×
• Total profit: $214,873
• Equity at exit: $9,078

Cash invested: $29,400 (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 45405

• Rents YoY: 4.3%
• Active inventory: 134
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,771 high
• Mortgage (P&I): −$551
• Tax from tax record: −$64 /mo · $768/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$582
• Net cashflow: $1,531

Break-even live

Break-even rent $833

Max offer price $105,000

Occupancy floor 40%

Sensitivity live

Price	-10% $1,590	-5% $1,560	+0% $1,531	+5% $1,501	+10% $1,471
Rent	-10% $1,312	-5% $1,421	+0% $1,531	+5% $1,640	+10% $1,750
Rate	-1.0pp $1,584	-0.5pp $1,557	base $1,531	+0.5pp $1,503	+1.0pp $1,476

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$2,772
Total (3 units)			$2,771

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
534 Geyer St Dayton, OH	4.0	1.0	1640	$1,530	$0.93	24d	1	0.28mi
1501 Viola Ave Dayton, OH	3.0	1.0	1952	$1,175	$0.60	14d	1	0.29mi
138 Rockwood Ave Dayton, OH	3.0	1.5	1439	$1,200	$0.83	24d	1	0.46mi
136 Rockwood Ave Dayton, OH	3.0	1.5	1439	$1,200	$0.83	44d	1	0.46mi
338 Kenwood Ave Dayton, OH	3.0	1.5	1512	$1,195	$0.79	44d	1	0.50mi
132 Wroe Ave Unit 132 Dayton, OH	3.0	2.5	1934	$1,297	$0.67	44d	1	0.59mi
932 Harvard Blvd Dayton, OH	5.0	2.0	1986	$1,500	$0.76	44d	1	0.75mi
942 Harvard Blvd Dayton, OH	3.0	2.0	1596	$1,200	$0.75	3d	1	0.77mi
41 W Fairview Ave Unit 2 Dayton, OH	3.0	1.0	1452	$1,200	$0.83	14d	1	0.84mi
101 W Norman Ave Unit 101 Dayton, OH	3.0	1.0	1600	$945	$0.59	44d	1	0.86mi
1225 Amherst Pl Dayton, OH	3.0	1.0	1548	$1,300	$0.84	14d	1	0.97mi
821 Herman Ave Dayton, OH	3.0	1.0	1456	$1,100	$0.76	21d	1	1.00mi
201 W Norman Ave Dayton, OH	3.0	1.0	1424	$1,200	$0.84	44d	1	1.01mi
140 E Monument Ave Dayton, OH	3.0	1.0–2.0	1048	$2,344	$2.24	3d	11	1.04mi
253 E Hillcrest Ave Dayton, OH	3.0	2.5	2569	$1,800	$0.70	3d	1	1.06mi
1011 N Broadway St Dayton, OH	3.0	1.5	1700	$950	$0.56	44d	1	1.06mi
26 W Beechwood Ave Dayton, OH	3.0	1.5	1468	$1,050	$0.72	44d	1	1.19mi
321 Deeds Ave Unit 319 Dayton, OH	4.0	2.0	1794	$1,100	$0.61	44d	1	1.22mi
439 W Fairview Ave Dayton, OH	3.0	1.0	1500	$1,200	$0.80	44d	1	1.23mi
204 Sears St Dayton, OH	3.0	1.0–2.5	1124	$2,793	$2.48	3d	10	1.24mi
39 E Maplewood Ave Dayton, OH	4.0	1.5	1560	$1,050	$0.67	3d	1	1.27mi
424 Lexington Ave Dayton, OH	3.0	2.0	1536	$1,025	$0.67	44d	1	1.27mi
531 Maryland Ave Dayton, OH	4.0	1.5	1962	$1,700	$0.87	14d	1	1.29mi
1743 Radcliffe Rd Dayton, OH	3.0	1.5	1729	$1,200	$0.69	44d	1	1.33mi
1119 Superior Ave Unit 1119 Dayton, OH	3.0	1.0	1435	$1,350	$0.94	3d	1	1.36mi
101 E Bruce Ave Dayton, OH	3.0	1.0	1455	$1,150	$0.79	3d	1	1.48mi

Listing history 4 events

1. 2026-05-03
   status Pending 363-char remark

   Show marketing remark (363 chars)

   Step into the opportunity of owning this traditional large2 story home located minutes from downtown Dayton, dinning, shopping, and major routes. This home offers 6 bedrooms and two full baths, large living room for your preferred design. Being sold as is. Enjoy relaxing mornings on the covered porch. Owner has done many updates. All room sizes are approximate.

2. 2026-04-06
   status Active 363-char remark

   Show marketing remark (363 chars)

   Step into the opportunity of owning this traditional large2 story home located minutes from downtown Dayton, dinning, shopping, and major routes. This home offers 6 bedrooms and two full baths, large living room for your preferred design. Being sold as is. Enjoy relaxing mornings on the covered porch. Owner has done many updates. All room sizes are approximate.

3. 2026-03-24
   historical ActiveUnderContract 363-char remark

   Show marketing remark (363 chars)

   Step into the opportunity of owning this traditional large2 story home located minutes from downtown Dayton, dinning, shopping, and major routes. This home offers 6 bedrooms and two full baths, large living room for your preferred design. Being sold as is. Enjoy relaxing mornings on the covered porch. Owner has done many updates. All room sizes are approximate.

4. 2026-03-17
   listed $105,000 Active 363-char remark

   Show marketing remark (363 chars)

   Step into the opportunity of owning this traditional large2 story home located minutes from downtown Dayton, dinning, shopping, and major routes. This home offers 6 bedrooms and two full baths, large living room for your preferred design. Being sold as is. Enjoy relaxing mornings on the covered porch. Owner has done many updates. All room sizes are approximate.

ⓘ 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: $768 · $64/mo
• Projected year-2 tax: $1,203 · $100/mo
• Expected delta: +$435/yr (+$36/mo · 56.6%)

ⓘ 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 ≥104°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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,252
• − Mortgage interest: −$5,882
• − Property taxes: −$768
• − Insurance: −$525
• − Repairs & maintenance: −$2,660
• − Management: −$2,660
• − Depreciation: −$3,055
• Taxable income: $17,702
• Est. tax owed @ 24.0%: −$4,248
• After-tax cash flow: $14,120/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): 18,955
• Household income: $43,973
• Rent vs Own: 64.0% rent · 36.0% own
• Severe rent burden: 1475.0

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 (68%)
• Race & ethnicity: Black 68% White 23% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Italian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% 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: ▼ -125.58%
• Current HPI: 173.4962
• Rent YoY: ▲ 4.34%
• 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

4 events — show timeline

• 2026-05-03 Pending — Dayton MLS
• 2026-04-06 Relisted — Dayton MLS
• 2026-03-24 Contingent — Dayton MLS
• 2026-03-17 Listed $105,000 Dayton MLS

Property tax history

-1.7%/yr

Latest (2025): $768 · +157.6% YoY. Source: county tax records.