1787 Cherokee Dr Unit B · West Carrollton, OH 45449

$84,500

3 bd · 2.0 ba · 1,089 sqft · Condo public records · 50 Days on market

Built 1974 $78/sqft · at area comps Est $89k · at est. $540/mo HOA · 37% of rent

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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 +16.0/30.0
• 1% rule +10.0/10.0
• ARV discount +9.6/15.0
• DSCR +4.9/10.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move in Condition first floor unit with 1089 sqft. Units must be owner occupied and pets weighing no more than 15 lbs. Features: Neutral carpet and paint with white trim, huge open great room concept, wood vinyl laminate plank flooring in entry-kitchen and both baths, Kitchen has nice white cabinets with stainless refrigerator-range-microwave-dishwasher, both baths are nicely updated, huge master bedroom with large walk in closet, tall ceilings, 2 carports come with the unit CP2 #13 and CP1 #14 at $11.19 per carport per month, nice swimming pool, laundry is on the 2nd floor in the storage area with coin operated washer and dryer, unit has 2 storage closets off common hallway just outside of the units front door.

Key facts

• Stainless appliances
• First-floor unit
• Updated countertops

Tags

• FIRST-FLOOR UNIT
• OPEN GREAT-ROOM LAYOUT
• UPDATED COUNTERTOPS
• REFRESHED CABINETRY
• STAINLESS APPLIANCES
• NEW LVP FLOORING

Property features AI

Finance

• Other: Offered for sale
• HOA & community: Homeowners association with a monthly fee of $540 covering association management, grounds and structure maintenance, pool(s), and snow removal

Exterior

• Parking: Carport
• Utilities: Natural gas available; Public water
• Home design: Single-story home; Entry level: 2
• Construction: Brick construction; Slab foundation
• Exterior features: In-ground pool; Irregular-shaped lot; Residential zoning

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: Main level bedroom (11 x 10)
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Ceiling fans; Kitchen/family room combo

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $84k.

Deal economics

• At list price, monthly cash flow is $41 ($495/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $584 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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 $60k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 37% of rent.

Recommended offer $81,965 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.72% ✓
• Cap rate: 6.88%
• Cash-on-cash: 2.09%
• DSCR: 1.09
• GRM: 4.8

CMA / ARV

• ARV (median comp): $88,557
• List price: $84,500
• Delta: -4.58%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -12.5%
• Equity multiple: 0.55×
• Total profit: $-10,720
• Equity at exit: $12,599

10-year hold

• IRR: -2.8%
• Equity multiple: 0.81×
• Total profit: $-4,548
• Equity at exit: $7,306

Cash invested: $23,660 (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: 4.8×

Monthly cashflow live

• Estimated rent: $1,457 high
• Mortgage (P&I): −$443
• Tax from tax record: −$92 /mo · $1,100/yr
• Insurance: −$35
• HOA: −$540
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $41

Break-even live

Break-even rent $1,405

Max offer price $84,500

Occupancy floor 92%

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: $21,125
• Closing costs: $2,535
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1651 S Elm St Dayton, OH	1.0–2.0	1.0–2.0	908	$1,549	$1.71	2d	9	0.18mi
841 Gawain Cir Dayton, OH	1.0–3.0	1.0–2.0	950	$1,315	$1.38	2d	17	0.32mi
712 Green Feather Ct Unit 5 Dayton, OH	2.0	1.0	1000	$1,200	$1.20	2d	1	0.63mi
1306 Black Forest Dr Unit B Dayton, OH	2.0	1.0	830	$1,175	$1.42	2d	1	0.71mi
1308 Camp Hill Way Dayton, OH	2.0	2.0	1000	$1,175	$1.18	2d	11	0.95mi
7477 Shady Water Ln Dayton, OH	2.0	1.0–2.0	712	$1,490	$2.09	2d	36	1.07mi
85 N Gebhart Church Rd Unit G Miamisburg, OH	2.0	1.0	950	$895	$0.94	23d	1	1.08mi
1735 Mars Hill Dr Dayton, OH	2.0	1.0–2.0	968	$1,162	$1.20	2d	4	1.11mi
1130 Bishop Dr Unit 1130-C Dayton, OH	2.0	1.0	850	$880	$1.04	2d	1	1.16mi
8470 Towson Blvd Miamisburg, OH	2.0	1.5	1050	$1,182	$1.13	2d	9	1.21mi
8310 Lyons Gate Way Miamisburg, OH	1.0–2.0	1.0	715	$1,455	$2.03	3d	11	1.22mi
1644 Villa South Dr Dayton, OH	2.0	1.5	1000	$1,500	$1.50	43d	1	1.25mi
8470 Towson Blvd Miamisburg, OH	2.0	1.5	1050	$1,188	$1.13	19d	7	1.25mi
2125 Maue Rd Miamisburg, OH	2.0	1.0–1.5	825	$2,048	$2.48	2d	1	1.31mi
7967 Washington Park Dr Dayton, OH	3.0	1.0	1200	$2,500	$2.08	43d	1	1.46mi

HOA detail condo

• Monthly dues: $540 · $6,480/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 39 events

1. 2026-06-18
   days on market $84,500 Active 50 DOM
2. 2026-06-17
   days on market $84,500 Active 49 DOM
3. 2026-06-16
   days on market $84,500 Active 48 DOM
4. 2026-06-15
   days on market $84,500 Active 47 DOM
5. 2026-06-14
   days on market $84,500 Active 45 DOM
6. 2026-06-13
   days on market $84,500 Active 44 DOM
7. 2026-06-10
   days on market $84,500 Active 42 DOM
8. 2026-06-09
   days on market $84,500 Active 41 DOM
9. 2026-06-08
   days on market $84,500 Active 40 DOM
10. 2026-06-07
    days on market $84,500 Active 39 DOM
11. 2026-06-03
    days on market $84,500 Active 35 DOM
12. 2026-06-02
    days on market $84,500 Active 34 DOM
13. 2026-06-01
    days on market $84,500 Active 33 DOM
14. 2026-05-31
    days on market $84,500 Active 32 DOM
15. 2026-05-31
    days on market $84,500 Active 31 DOM
16. 2026-04-29
    listed $84,500 Active 1008-char remark
17. 2026-02-03
    price $87,900
18. 2026-01-21
    price $94,900
19. 2026-01-12
    price $110,000
20. 2021-02-04
    soldstatus $59,900
21. 2020-11-06
    soldstatus $59,100 Sold

    Show marketing remark (721 chars)

    Move in Condition first floor unit with 1089 sqft. Units must be owner occupied and pets weighing no more than 15 lbs. Features: Neutral carpet and paint with white trim, huge open great room concept, wood vinyl laminate plank flooring in entry-kitchen and both baths, Kitchen has nice white cabinets with stainless refrigerator-range-microwave-dishwasher, both baths are nicely updated, huge master bedroom with large walk in closet, tall ceilings, 2 carports come with the unit CP2 #13 and CP1 #14 at $11.19 per carport per month, nice swimming pool, laundry is on the 2nd floor in the storage area with coin operated washer and dryer, unit has 2 storage closets off common hallway just outside of the units front door.

22. 2020-11-06
    soldstatus $59,100 Closed

    Show marketing remark (721 chars)

    Move in Condition first floor unit with 1089 sqft. Units must be owner occupied and pets weighing no more than 15 lbs. Features: Neutral carpet and paint with white trim, huge open great room concept, wood vinyl laminate plank flooring in entry-kitchen and both baths, Kitchen has nice white cabinets with stainless refrigerator-range-microwave-dishwasher, both baths are nicely updated, huge master bedroom with large walk in closet, tall ceilings, 2 carports come with the unit CP2 #13 and CP1 #14 at $11.19 per carport per month, nice swimming pool, laundry is on the 2nd floor in the storage area with coin operated washer and dryer, unit has 2 storage closets off common hallway just outside of the units front door.

23. 2020-10-27
    status Pending

    Show marketing remark (721 chars)

    Move in Condition first floor unit with 1089 sqft. Units must be owner occupied and pets weighing no more than 15 lbs. Features: Neutral carpet and paint with white trim, huge open great room concept, wood vinyl laminate plank flooring in entry-kitchen and both baths, Kitchen has nice white cabinets with stainless refrigerator-range-microwave-dishwasher, both baths are nicely updated, huge master bedroom with large walk in closet, tall ceilings, 2 carports come with the unit CP2 #13 and CP1 #14 at $11.19 per carport per month, nice swimming pool, laundry is on the 2nd floor in the storage area with coin operated washer and dryer, unit has 2 storage closets off common hallway just outside of the units front door.

24. 2020-10-20
    listed $59,900 Active

    Show marketing remark (721 chars)

    Move in Condition first floor unit with 1089 sqft. Units must be owner occupied and pets weighing no more than 15 lbs. Features: Neutral carpet and paint with white trim, huge open great room concept, wood vinyl laminate plank flooring in entry-kitchen and both baths, Kitchen has nice white cabinets with stainless refrigerator-range-microwave-dishwasher, both baths are nicely updated, huge master bedroom with large walk in closet, tall ceilings, 2 carports come with the unit CP2 #13 and CP1 #14 at $11.19 per carport per month, nice swimming pool, laundry is on the 2nd floor in the storage area with coin operated washer and dryer, unit has 2 storage closets off common hallway just outside of the units front door.

25. 2017-10-05
    soldstatus $32,000
26. 2017-09-29
    soldstatus $32,000 Sold
27. 2017-09-29
    soldstatus $32,000 Closed
28. 2017-09-07
    status Pending
29. 2017-06-28
    price $39,900
30. 2017-06-16
    listed $42,500 Active
31. 2013-09-11
    soldstatus $25,000
32. 2013-09-06
    soldstatus $25,000
33. 2013-09-06
    soldstatus $25,000 Closed
34. 2013-07-26
    historical
35. 2013-07-01
    soldstatus $12,000
36. 2013-06-27
    soldstatus $12,000
37. 2013-05-28
    listed $29,900
38. 2005-05-10
    soldstatus $51,150
39. 1993-01-07
    soldstatus $425,000

ⓘ 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: $1,100 · $92/mo
• Projected year-2 tax: $1,209 · $101/mo
• Expected delta: +$109/yr (+$9/mo · 9.9%)

ⓘ 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 3/10 Moderate 7 d/yr ≥99°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,487
• − Mortgage interest: −$4,733
• − Property taxes: −$1,100
• − Insurance: −$422
• − Repairs & maintenance: −$1,399
• − Management: −$1,399
• − HOA: −$6,480
• − Depreciation: −$2,458
• Taxable loss: −$505
• Est. tax savings @ 24.0%: +$121
• After-tax cash flow: $616/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

-80.1% since first listed

24 events — show timeline

• 2026-04-29 Listed $84,500 Dayton MLS
• 2026-02-03 Price Changed $87,900 Dayton MLS
• 2026-01-21 Price Changed $94,900 Dayton MLS
• 2026-01-12 Price Changed $110,000 Dayton MLS
• 2021-02-04 Sold (Public Records) $59,900 Public Records
• 2020-11-06 Sold (MLS) $59,100 Dayton MLS
• 2020-11-06 Sold (MLS) $59,100 Dayton MLS
• 2020-10-27 Pending — Dayton MLS
• 2020-10-20 Listed $59,900 Dayton MLS
• 2017-10-05 Sold (Public Records) $32,000 Public Records
• 2017-09-29 Sold (MLS) $32,000 Dayton MLS
• 2017-09-29 Sold (MLS) $32,000 Dayton MLS
• 2017-09-07 Pending — Dayton MLS
• 2017-06-28 Price Changed $39,900 Dayton MLS
• 2017-06-16 Listed $42,500 Dayton MLS
• 2013-09-11 Sold (Public Records) $25,000 Public Records
• 2013-09-06 Sold (MLS) $25,000 Dayton MLS
• 2013-09-06 Sold (MLS) $25,000 Dayton MLS
• 2013-07-26 Listing Removed — Dayton MLS
• 2013-07-01 Sold (Public Records) $12,000 Public Records
• 2013-06-27 Sold (Public Records) $12,000 Public Records
• 2013-05-28 Listed $29,900 Dayton MLS
• 2005-05-10 Sold (Public Records) $51,150 Public Records
• 1993-01-07 Sold (Public Records) $425,000 Public Records

Property tax history

+0.7%/yr

Latest (2025): $1,100 · -0.1% YoY. Source: county tax records.