2525 Lakeview Ave · Dayton, OH 45417

$525,000

99 bd · 2.0 ba · 8,288 sqft · MultiFamily public records · 96 Days on market

Built 1959 6,098 sqft lot $63/sqft · at area comps Est $509k · 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
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +6.1/15.0
• 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

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 9 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Introducing an exceptional investment opportunity in Dayton, Ohio! This 8,288 SF multifamily property, nestled on Lakeview Ave, features a meticulously maintained 9-unit building erected in 1959. With a high occupancy rate, this property offers seven 1-bedroom, 1 bath apartments and two 2-bedroom, 1 bath apartments, with six of those units recently renovated. Tenants will appreciate the convenience of washer & dryer hookups and off-street parking. Tenants are responsible for heat and electricity. There are 65% new furnaces/water heaters Don’t miss out on this turnkey, income-generating asset! Parcel Legal Description 29533. Also, there is pre-arranged bank financing from Richwood Bank that may be available to you. Please call agent for details.

Key facts

• High occupancy rate
• Off street parking
• Multifamily property

Tags

• MULTIFAMILY PROPERTY
• 9 UNIT BUILDING
• HIGH OCCUPANCY RATE
• RECENTLY RENOVATED UNITS
• WASHER AND DRYER HOOKUPS
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 7×1bd/1ba + 2×2bd/1ba units multifamily listed at $525k.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive. Per door: $284/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $525k).
• Recommended offer: $478k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.1% 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); 137 active listings in the ZIP; lower-income renter base — watch delinquency; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $7,281/mo this rent would consume 236% of the median local household income ($37k/yr) (locally 1822% 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 $4k of loan paydown is wiped out by about $16k 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 $147k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($478k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 10y 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 $109k; list at $525k implies a 382% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $477,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 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 1959 — 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. 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?
8. 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.
9. 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.
10. 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: 1.39% ✓
• Cap rate: 12.14%
• Cash-on-cash: 20.90%
• DSCR: 1.93
• GRM: 6.0

CMA / ARV

• ARV (median comp): $509,100
• List price: $525,000
• Delta: 3.12%
• Verdict: FAIR
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.06% rent growth · sell at horizon

5-year hold

• IRR: 14.4%
• Equity multiple: 1.58×
• Total profit: $85,651
• Equity at exit: $78,279

10-year hold

• IRR: 23.9%
• Equity multiple: 3.15×
• Total profit: $316,778
• Equity at exit: $45,392

Cash invested: $147,000 (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 45417

• Home prices YoY: -32.3%
• Rents YoY: 4.1%
• Active inventory: 137
• Price-to-rent: 55.3×

Monthly cashflow live

• Estimated rent: $7,281 high
• Mortgage (P&I): −$2,753
• Tax from tax record: −$220 /mo · $2,643/yr
• Insurance: −$219
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,529
• Net cashflow: $2,560

Break-even live

Break-even rent $4,041

Max offer price $525,000

Occupancy floor 60%

Sensitivity live

Price	-10% $2,857	-5% $2,708	+0% $2,560	+5% $2,411	+10% $2,263
Rent	-10% $1,985	-5% $2,272	+0% $2,560	+5% $2,847	+10% $3,135
Rate	-1.0pp $2,824	-0.5pp $2,693	base $2,560	+0.5pp $2,424	+1.0pp $2,285

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

Units	Beds	Baths	Est. rent
▸ 7× units	1	1	$5,544
▸ 2× units	2	1	$1,738
Total (9 units)			$7,281

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: $131,250
• Closing costs: $15,750
• Reserves months: —
• Total cash needed: —

Listing history 40 events

1. 2026-06-18
   days on market $525,000 Active 96 DOM
2. 2026-06-17
   days on market $525,000 Active 95 DOM
3. 2026-06-16
   days on market $525,000 Active 94 DOM
4. 2026-06-15
   days on market $525,000 Active 93 DOM
5. 2026-06-14
   days on market $525,000 Active 91 DOM
6. 2026-06-13
   pricedays on market $525,000 Active 90 DOM
7. 2026-06-10
   days on market $530,000 Active 88 DOM
8. 2026-06-09
   days on market $530,000 Active 87 DOM
9. 2026-06-08
   days on market $530,000 Active 86 DOM
10. 2026-06-07
    days on market $530,000 Active 85 DOM
11. 2026-06-05
    days on market $530,000 Active 82 DOM
12. 2026-06-03
    days on market $530,000 Active 81 DOM
13. 2026-06-02
    days on market $530,000 Active 80 DOM
14. 2026-06-01
    days on market $530,000 Active 79 DOM
15. 2026-05-31
    days on market $530,000 Active 78 DOM
16. 2026-03-14
    listed $530,000 Active 769-char remark

    Show marketing remark (769 chars)

    Introducing an exceptional investment opportunity in Dayton, Ohio! This 8,288 SF multifamily property, nestled on Lakeview Ave, features a meticulously maintained 9-unit building erected in 1959. With a high occupancy rate, this property offers seven 1-bedroom, 1 bath apartments and two 2-bedroom, 1 bath apartments, with six of those units recently renovated. Tenants will appreciate the convenience of washer & dryer hookups and off-street parking. Tenants are responsible for heat and electricity. There are 65% new furnaces/water heaters Don’t miss out on this turnkey, income-generating asset! Parcel Legal Description 29533. Also, there is pre-arranged bank financing from Richwood Bank that may be available to you. Please call agent for details.

17. 2025-12-29
    historical
18. 2025-08-11
    status Pending
19. 2025-07-02
    historical ActiveUnderContract
20. 2025-05-16
    historical $900
21. 2025-05-16
    listed $900
22. 2025-05-08
    listed $530,000 Active
23. 2023-09-22
    historical
24. 2023-08-30
    listed
25. 2023-08-24
    historical
26. 2023-07-18
    listed
27. 2023-07-14
    historical
28. 2022-12-22
    historical
29. 2020-03-28
    historical
30. 2020-03-28
    status Pending
31. 2020-03-18
    listed $309,000 Active
32. 2017-12-31
    historical
33. 2017-09-08
    status Active
34. 2017-08-29
    historical Active/Pending
35. 2017-06-28
    listed $139,000 Active
36. 2017-02-24
    historical
37. 2016-11-28
    historical Active/Pending
38. 2016-06-03
    price $115,000
39. 2016-03-16
    listed $120,000 Active
40. 2004-11-23
    soldstatus $108,900

ⓘ 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: $2,643 · $220/mo
• Projected year-2 tax: $5,417 · $451/mo
• Expected delta: +$2,773/yr (+$231/mo · 104.9%)

ⓘ 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 4/10 Moderate 7 d/yr ≥104°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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $87,372
• − Mortgage interest: −$29,408
• − Property taxes: −$2,643
• − Insurance: −$2,625
• − Repairs & maintenance: −$6,990
• − Management: −$6,990
• − Depreciation: −$15,273
• Taxable income: $23,443
• Est. tax owed @ 24.0%: −$5,626
• After-tax cash flow: $25,091/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

+386.7% since first listed

25 events — show timeline

• 2026-03-14 Listed $530,000 Dayton MLS
• 2025-12-29 Listing Removed — Dayton MLS
• 2025-08-11 Pending — Dayton MLS
• 2025-07-02 Contingent — Dayton MLS
• 2025-05-16 Rental Removed $900 LEASESTAR
• 2025-05-16 Listed for Rent $900 LEASESTAR
• 2025-05-08 Listed $530,000 Dayton MLS
• 2023-09-22 Rental Removed — LEASESTAR
• 2023-08-30 Listed for Rent — LEASESTAR
• 2023-08-24 Rental Removed — LEASESTAR
• 2023-07-18 Listed for Rent — LEASESTAR
• 2023-07-14 Rental Removed — LEASESTAR
• 2022-12-22 Rental Removed — LEASESTAR
• 2020-03-28 Listing Removed — Dayton MLS
• 2020-03-28 Pending — Dayton MLS
• 2020-03-18 Listed $309,000 Dayton MLS
• 2017-12-31 Listing Removed — Dayton MLS
• 2017-09-08 Relisted — Dayton MLS
• 2017-08-29 Contingent — Dayton MLS
• 2017-06-28 Listed $139,000 Dayton MLS
• 2017-02-24 Listing Removed — Dayton MLS
• 2016-11-28 Contingent — Dayton MLS
• 2016-06-03 Price Changed $115,000 Dayton MLS
• 2016-03-16 Listed $120,000 Dayton MLS
• 2004-11-23 Sold (Public Records) $108,900 Public Records

Property tax history

-1.0%/yr

Latest (2025): $2,643 · -1.0% YoY. Source: county tax records.