524 W Market St · Troy, OH 45373

$200,000

3 bd · 1.0 ba · 1,452 sqft · SingleFamily public records · 2 Days on market

Built 1932 7,841 sqft lot Est $222k · 10% under

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Why this score? — see what drove the D+ 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 +13.8/30.0
• ARV discount +12.0/15.0
• Schools +5.2/10.0
• DSCR +4.2/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This modern 2-bedroom home in Troy features one bathroom and a spacious, fenced-in backyard, perfect for outdoor activities. The open-concept interior is bright and inviting, with an updated kitchen and large windows. With a bonus room upstairs and a substantial unfinished basement; offers great potential for customization. Don't miss this opportunity to make this your new home!

Key facts

• Unfinished basement
• Bonus room
• Updated kitchen

Tags

• FENCED-IN BACKYARD
• UPDATED KITCHEN
• BONUS ROOM
• UNFINISHED BASEMENT

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Attached one-car garage
• Utilities: Natural gas available; Public water; Water available
• Home design: Residential zoning; Shingle and wood siding
• Construction: Shingle siding; Wood siding
• Exterior features: Fenced yard; Front porch; Patio

Interior

• Kitchen: Range; Refrigerator; Garbage disposal; Laminate counters; Pantry
• Bedrooms: One bedroom on the main level; One bedroom on the second level; One additional bedroom on the main level
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); Window cooling units
• Interior features: Remodeled; Pantry; Laminate counters; Double hung windows; Double-pane insulated windows; Satellite dish
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $18 ($222/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 $156k (22.1% below list).
• Recommended offer: $156k (22.1% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 2.7% in Troy — 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 73/100 on livability (#345 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Troy City (suburban): math 61% / reading 61% proficiency, ranked #271 of 656 in OH (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Kyle Elementary School (math 52% / reading 52%, grade C-, #851 of 1,584 statewide, top 56%, 207 students, 60% FRL); Troy Junior High School (math 59% / reading 57%, grade B, #297 of 654 statewide, top 46%, 663 students, 35% FRL); Troy High School (math 58% / reading 67%, grade B-, #200 of 781 statewide, top 26%, 1,183 students, 36% FRL).
• Market conditions: Rents rising fast (+5.1%/yr); 287 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 9y 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 $99k; list at $200k implies a 102% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,747 (22.1% below list)

Questions for the listing agent

1. Built in 1932 — 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.78% ✗
• Cap rate: 6.40%
• Cash-on-cash: 0.40%
• DSCR: 1.02
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $222,156
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
385 W Ross St	0.16mi	3/1.5	1,587 (+9%)	2mo	$239,900	$151	73
1002 S Market St	0.59mi	3/1.0	1,448 (-0%)	4mo	$220,000	$152	68
1141 Dickerson Dr	0.31mi	3/2.0	1,344 (-7%)	2mo	$279,000	$208	68
1020 S Market St	0.66mi	3/1.5	1,472 (+1%)	2mo	$160,000	$109	63
530 Pennsylvania Ave	0.51mi	3/1.5	1,392 (-4%)	7mo	$180,000	$129	62
302 Pennsylvania Ave	0.66mi	4/1.5 (+1)	1,450 (-0%)	1mo	$210,000	$145	62
220 Racer St	0.62mi	3/2.0	1,392 (-4%)	1mo	$213,000	$153	60
353 Armand Dr	0.67mi	3/2.0	1,493 (+3%)	1mo	$238,000	$159	59
303 S Ridge Ave	0.65mi	3/2.5	1,504 (+4%)	1mo	$281,000	$187	57
67 W Dakota St	0.42mi	3/2.0	1,289 (-11%)	1mo	$239,900	$186	57
1022 Mckaig Ave	0.66mi	3/2.0	1,408 (-3%)	4mo	$200,000	$142	56
410 Armand Dr	0.65mi	3/2.0	1,519 (+5%)	2mo	$299,500	$197	56

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 · 5.06% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.50×
• Total profit: $-28,019
• Equity at exit: $29,821

10-year hold

• IRR: -2.2%
• Equity multiple: 0.84×
• Total profit: $-9,112
• Equity at exit: $17,292

Cash invested: $56,000 (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 45373

• Rents YoY: 5.1%
• Active inventory: 287
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,557 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$80 /mo · $957/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $18

Break-even live

Break-even rent $1,534

Max offer price $200,000

Occupancy floor 94%

Sensitivity live

Price	-10% $132	-5% $75	+0% $18	+5% $-38	+10% $-95
Rent	-10% $-105	-5% $-43	+0% $18	+5% $80	+10% $142
Rate	-1.0pp $119	-0.5pp $69	base $18	+0.5pp $-33	+1.0pp $-86

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1530 Williamsburg Pl Apt D Troy, OH	3.0	1.5	1275	$1,700	$1.33	25d	1	0.53mi
682 Armand Dr Unit 682 Troy, OH	2.0	2.0	1300	$1,425	$1.10	25d	1	0.53mi
906 1/2 Race Dr Troy, OH	2.0	1.0	920	$750	$0.82	4d	1	0.96mi
5 N Market St Unit 5 1/2 Troy, OH	3.0	2.0	1600	$1,695	$1.06	16d	1	0.99mi
1211 W Main St Troy, OH	1.0–2.0	1.0–1.5	900	$1,150	$1.28	4d	3	1.26mi

Listing history 21 events

1. 2026-05-21
   status Pending 381-char remark

   Show marketing remark (381 chars)

   This modern 2-bedroom home in Troy features one bathroom and a spacious, fenced-in backyard, perfect for outdoor activities. The open-concept interior is bright and inviting, with an updated kitchen and large windows. With a bonus room upstairs and a substantial unfinished basement; offers great potential for customization. Don't miss this opportunity to make this your new home!

2. 2026-05-21
   status Pending

   Show marketing remark (381 chars)

   This modern 2-bedroom home in Troy features one bathroom and a spacious, fenced-in backyard, perfect for outdoor activities. The open-concept interior is bright and inviting, with an updated kitchen and large windows. With a bonus room upstairs and a substantial unfinished basement; offers great potential for customization. Don't miss this opportunity to make this your new home!

3. 2026-05-18
   listed $200,000 Active 381-char remark

   Show marketing remark (381 chars)

   This modern 2-bedroom home in Troy features one bathroom and a spacious, fenced-in backyard, perfect for outdoor activities. The open-concept interior is bright and inviting, with an updated kitchen and large windows. With a bonus room upstairs and a substantial unfinished basement; offers great potential for customization. Don't miss this opportunity to make this your new home!

4. 2026-05-18
   listed $200,000 Active

   Show marketing remark (381 chars)

   This modern 2-bedroom home in Troy features one bathroom and a spacious, fenced-in backyard, perfect for outdoor activities. The open-concept interior is bright and inviting, with an updated kitchen and large windows. With a bonus room upstairs and a substantial unfinished basement; offers great potential for customization. Don't miss this opportunity to make this your new home!

5. 2025-03-30
   historical
6. 2025-02-11
   price $192,500
7. 2025-02-11
   price $192,500
8. 2025-01-21
   listed $197,500 Active
9. 2020-01-13
   soldstatus $99,000
10. 2020-01-10
    soldstatus $99,000
11. 2020-01-06
    listed $99,900
12. 2018-04-24
    soldstatus $87,000 Closed
13. 2018-04-24
    soldstatus $87,000 Sold
14. 2018-04-24
    soldstatus $87,000
15. 2018-03-14
    status Pending
16. 2018-03-01
    price $85,000
17. 2017-10-13
    price $89,900
18. 2017-10-12
    status Active
19. 2017-09-28
    historical Active/Pending
20. 2017-09-14
    listed $92,500 Active
21. 2017-09-14
    listed $85,000

ⓘ 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: $957 · $80/mo
• Projected year-2 tax: $2,039 · $170/mo
• Expected delta: +$1,081/yr (+$90/mo · 113.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 67% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,690
• − Mortgage interest: −$11,203
• − Property taxes: −$957
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,495
• − Management: −$1,495
• − Depreciation: −$5,818
• Taxable loss: −$3,279
• Est. tax savings @ 24.0%: +$787
• After-tax cash flow: $1,009/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: Troy City
• NCES district ID: 3904492
• Math proficiency: 61% ▼ -10.00%
• Reading proficiency: 61% ▼ -7.00%
• Median HH income: $52,012
• Composite: 52.1/100
• National rank: #1625
• State rank: #271 of 656 in OH

Livability — Troy

• Score: 73/100
• State rank: #345
• US rank: #5621

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Troy, OH
• County: Miami County · 85,667 people
• City population: 37,565
• Metro: Dayton-Kettering, OH
• Population (ZIP): 37,565
• Household income: $75,742
• Rent vs Own: 28.7% rent · 71.3% own
• Severe rent burden: 1134.0

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 (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 4% Asian 3% Black 3%
• Common ancestry: Lithuanian 4% Slovak 2% Iranian 2%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Other Asian/Pacific 2% Spanish 1% Other Indo-European 1%

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: ▼ -158.93%
• Current HPI: 211.5279
• Rent YoY: ▲ 5.06%
• 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

+135.3% since first listed

21 events — show timeline

• 2026-05-21 Pending — WRIST
• 2026-05-21 Pending — Dayton MLS
• 2026-05-18 Listed $200,000 Dayton MLS
• 2026-05-18 Listed $200,000 WRIST
• 2025-03-30 Listing Removed — WRIST
• 2025-02-11 Price Changed $192,500 WRIST
• 2025-02-11 Price Changed $192,500 Dayton MLS
• 2025-01-21 Listed $197,500 WRIST
• 2020-01-13 Sold (Public Records) $99,000 Public Records
• 2020-01-10 Sold (MLS) $99,000 WRIST
• 2020-01-06 Listed $99,900 WRIST
• 2018-04-24 Sold (MLS) $87,000 WRIST
• 2018-04-24 Sold (MLS) $87,000 Dayton MLS
• 2018-04-24 Sold (MLS) $87,000 Dayton MLS
• 2018-03-14 Pending — Dayton MLS
• 2018-03-01 Price Changed $85,000 Dayton MLS
• 2017-10-13 Price Changed $89,900 Dayton MLS
• 2017-10-12 Relisted — Dayton MLS
• 2017-09-28 Contingent — Dayton MLS
• 2017-09-14 Listed $92,500 Dayton MLS
• 2017-09-14 Listed $85,000 WRIST

Property tax history

-1.0%/yr

Latest (2025): $957 · -44.4% YoY. Source: county tax records.