3926 Palmerston Ave · Dayton, OH 45417

$59,900

3 bd · 1.0 ba · 912 sqft · SingleFamily public records · 21 Days on market

Built 1956 7,876 sqft lot Est $63k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.7/15.0
• 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 Here’s your chance to add a cash flowing property to your portfolio for just $59,900! This tenant occupied home is already generating $850 per month in rental income, making it the perfect opportunity for an investor looking for immediate cash flow from day one. With a little TLC, this property has even more potential and could become a strong long term investment. Whether you are looking to expand your rental portfolio or secure an affordable income producing property, this one is worth a look. Opportunities at this price do not last long ?? Schedule your showing today before another investor grabs it!

Key facts

• 7,876 sq ft lot
• Garage
• Built 1956

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Detached 1-car garage
• Utilities: Has heating and cooling
• Home design: Single-story home; Residential zoning
• Construction: Aluminum siding and brick exterior; Slab foundation
• Exterior features: Residential lot approximately 0.18 acres (125 x 63)

Interior

• Bedrooms: Main-level bedroom, approximately 11 x 13; Main-level bedroom, approximately 12 x 11; Main-level bedroom, approximately 11 x 11
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating; Wall unit(s) for cooling
• Interior features: Total of 3 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $501 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.3% 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 (+4.1%/yr); 135 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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).
• This rent runs 37% 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 $414 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $48k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,001 (1.5% below list)

Questions for the listing agent

1. Built in 1956 — 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: 1.93% ✓
• Cap rate: 16.34%
• Cash-on-cash: 35.87%
• DSCR: 2.60
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $62,928
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3942 Alvin Ave	0.06mi	2/1.0 (-1)	912 (0%)	2mo	$105,000	$115	90
3503 Modena St	0.21mi	3/1.5	912 (0%)	3mo	$45,000	$49	86
3512 Modena St	0.18mi	3/1.0	912 (0%)	10mo	$84,000	$92	83
3939 Nicholas Rd	0.14mi	3/1.0	912 (0%)	18mo	$80,990	$89	79
820 Ernroe Dr	0.40mi	3/1.0	864 (-5%)	3mo	$45,000	$52	70
762 Ernroe Dr	0.48mi	3/1.0	936 (+3%)	8mo	$65,000	$69	67
2932 Sage Ave	0.61mi	2/1.0 (-1)	884 (-3%)	0mo	$46,000	$52	61
3356 Forent Ave	0.43mi	3/1.0	864 (-5%)	14mo	$69,900	$81	60
2922 Revels Ave	0.61mi	2/1.0 (-1)	884 (-3%)	5mo	$40,000	$45	58
737 Oakleaf Dr	0.51mi	2/1.0 (-1)	887 (-3%)	11mo	$41,000	$46	57
2823 Revels Ave	0.73mi	2/1.0 (-1)	884 (-3%)	13mo	$19,000	$21	45
714 Oakleaf Dr	0.55mi	2/1.0 (-1)	825 (-10%)	11mo	$69,900	$85	44

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: 32.8%
• Equity multiple: 2.40×
• Total profit: $23,485
• Equity at exit: $8,931

10-year hold

• IRR: 40.4%
• Equity multiple: 4.99×
• Total profit: $66,844
• Equity at exit: $5,179

Cash invested: $16,772 (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: 135
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,154 high
• Mortgage (P&I): −$314
• Tax from tax record: −$71 /mo · $855/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $501

Break-even live

Break-even rent $519

Max offer price $59,900

Occupancy floor 52%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3964 Nicholas Rd Dayton, OH	3.0	1.0	912	$1,000	$1.10	3d	1	0.16mi
3939 Nicholas Rd Dayton, OH	3.0	1.0	912	$1,200	$1.32	43d	1	0.17mi
500 Bowie Dr Unit 122 Dayton, OH	2.0	1.0	850	$910	$1.07	43d	1	0.92mi
342 Lookout Ave Dayton, OH	2.0	1.0	800	$750	$0.94	2d	1	1.03mi
342 Lookout Ave Dayton, OH	2.0	1.0	800	$775	$0.97	43d	1	1.03mi
5090 Altrim Rd Dayton, OH	3.0	1.0	925	$1,245	$1.35	2d	1	1.22mi
1272 Clement Ave Dayton, OH	3.0	1.0	1025	$1,350	$1.32	2d	1	1.37mi
2240 Lakeview Ave Dayton, OH	3.0	1.0	1056	$1,025	$0.97	43d	1	1.41mi
126 Bluecrest Ave Dayton, OH	2.0	1.0	840	$1,000	$1.19	14d	1	1.48mi

Listing history 18 events

1. 2026-06-18
   days on market $59,900 Active 21 DOM
2. 2026-06-17
   days on market $59,900 Active 20 DOM
3. 2026-06-16
   days on market $59,900 Active 19 DOM
4. 2026-06-15
   days on market $59,900 Active 18 DOM
5. 2026-06-14
   days on market $59,900 Active 16 DOM
6. 2026-06-13
   days on market $59,900 Active 15 DOM
7. 2026-06-10
   days on market $59,900 Active 13 DOM
8. 2026-06-09
   days on market $59,900 Active 12 DOM
9. 2026-06-08
   days on market $59,900 Active 11 DOM
10. 2026-06-07
    days on market $59,900 Active 10 DOM
11. 2026-06-05
    days on market $59,900 Active 7 DOM
12. 2026-06-03
    days on market $59,900 Active 6 DOM
13. 2026-06-02
    days on market $59,900 Active 5 DOM
14. 2026-06-01
    days on market $59,900 Active 4 DOM
15. 2026-05-31
    days on market $59,900 Active 3 DOM
16. 2026-05-28
    listed $59,900 Active
17. 1997-05-15
    soldstatus $47,600
18. 1994-09-30
    soldstatus $33,000

ⓘ 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: $855 · $71/mo
• Projected year-2 tax: $895 · $75/mo
• Expected delta: +$40/yr (+$3/mo · 4.7%)

ⓘ 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 ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,848
• − Mortgage interest: −$3,355
• − Property taxes: −$855
• − Insurance: −$300
• − Repairs & maintenance: −$1,108
• − Management: −$1,108
• − Depreciation: −$1,743
• Taxable income: $5,380
• Est. tax owed @ 24.0%: −$1,291
• After-tax cash flow: $4,725/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

+81.5% since first listed

3 events — show timeline

• 2026-05-28 Listed $59,900 Dayton MLS
• 1997-05-15 Sold (Public Records) $47,600 Public Records
• 1994-09-30 Sold (Public Records) $33,000 Public Records

Property tax history

-1.5%/yr

Latest (2025): $855 · -0.2% YoY. Source: county tax records.