4509 Queens Ave · Dayton, OH 45406

$57,900

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 7 Days on market

Built 1944 6,120 sqft lot $80/sqft · 10% above area Est $52k · 10% over

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Why this score? — see what drove the C+ 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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• ARV discount +2.8/15.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home is bank owned with clear title -- Ready to Close . Make offer . As-is condition .

Key facts

• Storage shed
• Newer water heater
• Fenced backyard

Tags

• FENCED BACKYARD
• STORAGE SHED
• FULL UNFINISHED BASEMENT
• COZY FRONT PORCH
• UPDATED ELECTRIC PANEL
• NEWER WATER HEATER

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: No garage
• Home design: One-story frame home with vinyl siding
• Construction: Frame construction with vinyl siding; Below-grade unfinished area (720)
• Exterior features: Residential lot approximately 51 x 120 (0.14 acre)

Interior

• Kitchen: Eat-in kitchen (14 x 11)
• Bedrooms: Two main-level bedrooms (10 x 8; 13 x 10)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Full unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $58k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($800 rent vs $58k).
• Cap rate 11.4% 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 (+3.0%/yr); 156 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $400 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 + 3.0% rent growth), your $16k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 16y 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.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,900

Questions for the listing agent

1. Built in 1944 — 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: 1.38% ✓
• Cap rate: 11.42%
• Cash-on-cash: 18.31%
• DSCR: 1.81
• GRM: 6.0

CMA / ARV

• ARV (median comp): $52,453
• List price: $57,900
• Delta: 10.38%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4509 Queens Ave	0.00mi	2/1.0	720 (0%)	0mo	$56,000	$78	100
4525 Genesee Ave	0.06mi	2/1.0	720 (0%)	12mo	$33,000	$46	87
4424 Genesee Ave	0.10mi	2/1.0	720 (0%)	12mo	$47,000	$65	85
4715 Greenwich Village Ave	0.35mi	2/1.0	756 (+5%)	6mo	$21,500	$28	70
4528 Prescott Ave	0.14mi	3/1.0 (+1)	725 (+1%)	22mo	$1,250	$2	69
4628 Queens Ave	0.14mi	3/1.0 (+1)	755 (+5%)	18mo	$78,000	$103	65
5304 W Riverview Ave	0.51mi	3/1.0 (+1)	720 (0%)	7mo	$28,000	$39	65
2612 N Gettysburg Ave	0.40mi	2/1.0	780 (+8%)	3mo	$28,200	$36	65
4608 Saint James Ave	0.32mi	2/1.0	676 (-6%)	13mo	$40,000	$59	64
2200 Falmouth Ave	0.47mi	2/1.0	825 (+15%)	20mo	$87,000	$105	37

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 · 3.03% rent growth · sell at horizon

5-year hold

• IRR: 10.0%
• Equity multiple: 1.39×
• Total profit: $6,396
• Equity at exit: $8,633

10-year hold

• IRR: 19.1%
• Equity multiple: 2.60×
• Total profit: $25,962
• Equity at exit: $5,006

Cash invested: $16,212 (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 45406

• Rents YoY: 3.0%
• Active inventory: 156
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $800 high
• Mortgage (P&I): −$304
• Tax from tax record: −$57 /mo · $682/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $247

Break-even live

Break-even rent $487

Max offer price $57,900

Occupancy floor 64%

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: $14,475
• Closing costs: $1,737
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2414 Hancock Ave Unit 2418 Dayton, OH	1.0	1.0	600	$650	$1.08	43d	1	0.66mi
3652 Otterbein Ave Unit 3652 Dayton, OH	2.0	1.0	700	$800	$1.14	2d	1	0.69mi
2675-2727 N Gettysburg Ave Dayton, OH	1.0	1.0	650	$600	$0.92	14d	22	0.77mi
2675-2727 N Gettysburg Ave Unit 2727-22 Dayton, OH	1.0	1.0	650	$600	$0.92	43d	1	0.77mi
2501 Fairport Ave Dayton, OH	2.0	1.0	605	$850	$1.40	43d	1	0.79mi
4113 Crest Dr Dayton, OH	1.0	1.0	650	$650	$1.00	43d	1	1.10mi
1934 Tennyson Ave Dayton, OH	1.0	1.0	675	$700	$1.04	43d	1	1.13mi
2109 Victoria Ave Dayton, OH	2.0	1.0	714	$950	$1.33	3d	1	1.16mi
1982 Victoria Ave Dayton, OH	1.0	1.0	675	$700	$1.04	43d	1	1.18mi
2257 Hepburn Ave Dayton, OH	1.0	1.0	600	$695	$1.16	43d	1	1.22mi
3222 Athens Ave Unit C Dayton, OH	2.0	1.0	700	$700	$1.00	43d	1	1.30mi
1330 W Hillcrest Ave Dayton, OH	1.0	1.0	525	$825	$1.57	43d	1	1.34mi

Listing history 8 events

1. 2026-05-11
   listed $57,900 Active 554-char remark
2. 2011-10-21
   soldstatus $2,500 86-char remark

   Show marketing remark (86 chars)

   Home is bank owned with clear title -- Ready to Close . Make offer . As-is condition .

3. 2011-10-21
   soldstatus $2,500 Closed 86-char remark

   Show marketing remark (86 chars)

   Home is bank owned with clear title -- Ready to Close . Make offer . As-is condition .

4. 2011-10-17
   historical 86-char remark

   Show marketing remark (86 chars)

   Home is bank owned with clear title -- Ready to Close . Make offer . As-is condition .

5. 2011-09-21
   listed $9,900 86-char remark

   Show marketing remark (86 chars)

   Home is bank owned with clear title -- Ready to Close . Make offer . As-is condition .

6. 2010-06-10
   historical
7. 2010-01-10
   listed $19,900
8. 1979-10-01
   soldstatus $15,900

ⓘ 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: $682 · $57/mo
• Projected year-2 tax: $792 · $66/mo
• Expected delta: +$111/yr (+$9/mo · 16.3%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,598
• − Mortgage interest: −$3,243
• − Property taxes: −$682
• − Insurance: −$290
• − Repairs & maintenance: −$768
• − Management: −$768
• − Depreciation: −$1,684
• Taxable income: $2,164
• Est. tax owed @ 24.0%: −$519
• After-tax cash flow: $2,449/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): 19,991
• Household income: $41,796
• Rent vs Own: 52.9% rent · 47.1% own
• Severe rent burden: 1504.0

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 (75%)
• Race & ethnicity: Black 75% White 16% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 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: ▼ -113.75%
• Current HPI: 197.1302
• Rent YoY: ▲ 3.03%
• 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

+252.2% since first listed

10 events — show timeline

• 2026-06-08 Sold (MLS) $56,000 Dayton MLS
• 2026-05-19 Pending — Dayton MLS
• 2026-05-11 Listed $57,900 Dayton MLS
• 2011-10-21 Sold (MLS) $2,500 Dayton MLS
• 2011-10-21 Sold (MLS) $2,500 Dayton MLS
• 2011-10-17 Listing Removed — Dayton MLS
• 2011-09-21 Listed $9,900 Dayton MLS
• 2010-06-10 Listing Removed — Dayton MLS
• 2010-01-10 Listed $19,900 Dayton MLS
• 1979-10-01 Sold (Public Records) $15,900 Public Records

Property tax history

-1.2%/yr

Latest (2025): $682 · -39.5% YoY. Source: county tax records.