12 E Main · West Carrollton, OH 45449

$215,000

3 bd · 3.0 ba · 2,337 sqft · MultiFamily public records · 112 Days on market

Built 1900 $92/sqft · 17% above area Est $184k · 17% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Solid income-producing triplex located in the heart of West Carrollton. Fully occupied renting for $2,295/month! Separate electric and gas meters, owner pays water.

Key facts

• Fully occupied
• Built 1900
• Listed 112 days

Tags

• INCOME PRODUCING TRIPLEX
• FULLY OCCUPIED

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/3.0-bath units multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive. Per door: $786/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $215k).
• Recommended offer: $196k (9.0% below list) — sets the bar for market timing.
• Cap rate 19.5% vs local median 4.7% in West Carrollton — 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 (#712 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• West Carrollton City (suburban): math 34% / reading 46% proficiency, ranked #540 of 656 in OH (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 82 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $4,807/mo this rent would consume 90% of the median local household income ($64k/yr) (locally 745% 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 $1k of loan paydown is wiped out by about $6k 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 $60k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 7 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.
• Current owner paid $165k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $195,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 2.24% ✓
• Cap rate: 19.45%
• Cash-on-cash: 46.99%
• DSCR: 3.09
• GRM: 3.7

CMA / ARV

• ARV (median comp): $183,679
• List price: $215,000
• Delta: 17.05%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
316 E Pease Ave	0.24mi	3/3.0	2,056 (-12%)	2mo	$215,000	$105	68
34 E Pease Ave #32	0.11mi	4/3.0 (+1)	2,112 (-10%)	14mo	$150,000	$71	62
42 W Pease Ave #38	0.11mi	4/2.0 (+1)	2,560 (+10%)	14mo	$180,000	$70	58

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 44.3%
• Equity multiple: 2.92×
• Total profit: $115,348
• Equity at exit: $32,057

10-year hold

• IRR: 50.3%
• Equity multiple: 5.88×
• Total profit: $293,956
• Equity at exit: $18,589

Cash invested: $60,200 (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 45449

• Active inventory: 82
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $4,807 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$223 /mo · $2,677/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,009
• Net cashflow: $2,357

Break-even live

Break-even rent $1,823

Max offer price $215,000

Occupancy floor 46%

Sensitivity live

Price	-10% $2,479	-5% $2,418	+0% $2,357	+5% $2,297	+10% $2,236
Rent	-10% $1,978	-5% $2,167	+0% $2,357	+5% $2,547	+10% $2,737
Rate	-1.0pp $2,466	-0.5pp $2,412	base $2,357	+0.5pp $2,302	+1.0pp $2,245

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	3	$4,806
Total (3 units)			$4,807

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
521 Savoy Ave Dayton, OH	3.0	1.0	1940	$1,750	$0.90	45d	1	0.58mi

Listing history 24 events

1. 2026-05-31
   days on market $215,000 Active 112 DOM
2. 2026-05-31
   days on market $215,000 Active 111 DOM
3. 2026-02-18
   price $215,000 164-char remark

   Show marketing remark (164 chars)

   Solid income-producing triplex located in the heart of West Carrollton. Fully occupied renting for $2,295/month! Separate electric and gas meters, owner pays water.

4. 2026-02-08
   listed $220,000 Active 164-char remark

   Show marketing remark (164 chars)

   Solid income-producing triplex located in the heart of West Carrollton. Fully occupied renting for $2,295/month! Separate electric and gas meters, owner pays water.

5. 2025-12-31
   historical
6. 2025-10-09
   listed $220,000 Active
7. 2022-06-22
   soldstatus $164,900
8. 2022-05-03
   soldstatus $164,900 Sold
9. 2022-05-03
   soldstatus $164,900 Closed
10. 2022-03-31
    status Pending
11. 2022-03-24
    listed $164,900 Active
12. 2019-06-29
    historical
13. 2019-05-04
    listed $99,900 Active
14. 2013-08-14
    soldstatus $14,000 Closed
15. 2013-08-14
    soldstatus $14,000
16. 2013-07-31
    historical
17. 2013-07-16
    historical
18. 2013-04-16
    listed $14,000
19. 2013-04-16
    listed $14,000
20. 2011-04-06
    historical
21. 2010-10-07
    listed $104,500
22. 2004-03-10
    soldstatus $65,000
23. 1978-03-30
    soldstatus $23,000
24. 1978-03-30
    soldstatus $23,000

ⓘ 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: $2,677 · $223/mo
• Projected year-2 tax: $3,016 · $251/mo
• Expected delta: +$338/yr (+$28/mo · 12.6%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $57,684
• − Mortgage interest: −$12,043
• − Property taxes: −$2,677
• − Insurance: −$1,075
• − Repairs & maintenance: −$4,615
• − Management: −$4,615
• − Depreciation: −$6,255
• Taxable income: $26,405
• Est. tax owed @ 24.0%: −$6,337
• After-tax cash flow: $21,951/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: West Carrollton City
• NCES district ID: 3904505
• Math proficiency: 34% ▼ -12.00%
• Reading proficiency: 46% ▼ -9.00%
• Median HH income: $42,209
• Composite: 33.71/100
• National rank: #5380
• State rank: #540 of 656 in OH

Livability — West Carrollton

• Score: 65/100
• State rank: #712
• US rank: #12835

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Carrollton, OH
• County: Montgomery County · 459,541 people
• City population: 19,066
• Metro: Dayton-Kettering, OH
• Population (ZIP): 19,066
• Household income: $63,800
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 745.0

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 White (71%)
• Race & ethnicity: White 71% Black 13% Two or more races 9% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 5% Arabic 3% Chinese 2%

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: ▼ -188.64%
• Current HPI: 248.1785
• Rent YoY: —
• 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

+834.8% since first listed

22 events — show timeline

• 2026-02-18 Price Changed $215,000 Dayton MLS
• 2026-02-08 Listed $220,000 Dayton MLS
• 2025-12-31 Listing Removed — Dayton MLS
• 2025-10-09 Listed $220,000 Dayton MLS
• 2022-06-22 Sold (Public Records) $164,900 Public Records
• 2022-05-03 Sold (MLS) $164,900 Dayton MLS
• 2022-05-03 Sold (MLS) $164,900 Dayton MLS
• 2022-03-31 Pending — Dayton MLS
• 2022-03-24 Listed $164,900 Dayton MLS
• 2019-06-29 Listing Removed — Dayton MLS
• 2019-05-04 Listed $99,900 Dayton MLS
• 2013-08-14 Sold (MLS) $14,000 Dayton MLS
• 2013-08-14 Sold (MLS) $14,000 Dayton MLS
• 2013-07-31 Listing Removed — Dayton MLS
• 2013-07-16 Listing Removed — Dayton MLS
• 2013-04-16 Listed $14,000 Dayton MLS
• 2013-04-16 Listed $14,000 Dayton MLS
• 2011-04-06 Listing Removed — Dayton MLS
• 2010-10-07 Listed $104,500 Dayton MLS
• 2004-03-10 Sold (Public Records) $65,000 Public Records
• 1978-03-30 Sold (Public Records) $23,000 Public Records
• 1978-03-30 Sold (Public Records) $23,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $2,677 · -0.1% YoY. Source: county tax records.