62 Pioneer St · Dayton, OH 45405

$79,000

2 bd · 1.0 ba · 736 sqft · SingleFamily public records · 189 Days on market

Built 1900 4,021 sqft lot $107/sqft · 81% above area ↓ 6% since listing

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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 +29.0/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Rent growth +3.6/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

New Roof Installed 05/16/26! Great opportunity for a first time home buyer or investor!! This 2 bedroom, one bath bungalow with large 6' x 9' storage room offers a new kitchen with stainless steel appliances provided. New bath. New carpet in both bedrooms. New laminate flooring in living room, kitchen and bath. New front door. Fresh paint throughout the home. Exterior painted three years ago. Fenced in back yard. Boiler system rebuilt 4 years ago and maintenance/safety check performed Nov 2025. New electric panel installed 4 years ago. New water heater three years ago. PEX plumbing installed servicing bathroom/kitchen and new PVC drain system to main drain installed 4 years ago. Family owned for 60 years. This property is conveniently located to Downtown Dayton providing numerous choices for dining, entertainment and recreation featuring Dayton Dragon's baseball, Riverscape Metropark, Oregon District and more. Easy access to I-75 and St. Rt.4. Schedule your showing today!!

Key facts

• New bath
• New kitchen
• New carpet

Tags

• NEW KITCHEN
• STAINLESS STEEL APPLIANCES
• NEW BATH
• NEW CARPET
• NEW LAMINATE FLOORING
• NEW FRONT DOOR

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($971 rent vs $79k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 7.3% 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: amenities C-, crime F, commute 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.
• Zoned schools: River'S Edge Montessori Elementary School (math 22% / reading 32%, grade F, #1,193 of 1,584 statewide, top 76%, 494 students, 0% FRL); Wogaman Middle School (math 8% / reading 12%, grade F, #645 of 654 statewide, top 99%, 364 students, 0% FRL); Belmont High School (math 5% / reading 20%, grade F, #720 of 781 statewide, top 93%, 1,100 students, 0% FRL) — zoned schools average 0% FRL vs 74% district-wide (74 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.3%/yr); 136 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $546 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 + 4.3% rent growth), your $22k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 189 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $69,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.23% ✓
• Cap rate: 10.38%
• Cash-on-cash: 14.61%
• DSCR: 1.65
• GRM: 6.8

CMA / ARV

• ARV (median comp): $43,667
• List price: $79,000
• Delta: 80.92%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.34% rent growth · sell at horizon

5-year hold

• IRR: 6.5%
• Equity multiple: 1.26×
• Total profit: $5,667
• Equity at exit: $11,779

10-year hold

• IRR: 16.9%
• Equity multiple: 2.47×
• Total profit: $32,559
• Equity at exit: $6,830

Cash invested: $22,120 (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 45405

• Rents YoY: 4.3%
• Active inventory: 136
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $971 high
• Mortgage (P&I): −$414
• Tax from tax record: −$50 /mo · $606/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $269

Break-even live

Break-even rent $630

Max offer price $79,000

Occupancy floor 67%

Sensitivity live

Price	-10% $314	-5% $292	+0% $269	+5% $247	+10% $225
Rent	-10% $193	-5% $231	+0% $269	+5% $308	+10% $346
Rate	-1.0pp $309	-0.5pp $289	base $269	+0.5pp $249	+1.0pp $228

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
44 5 Oaks Ave Unit 2 Dayton, OH	2.0	1.0	700	$800	$1.14	45d	1	0.21mi
35 Neal Ave Dayton, OH	2.0	1.0	728	$875	$1.20	25d	1	0.21mi
22 Emmet St Unit 17 Dayton, OH	1.0	1.0	500	$875	$1.75	45d	1	0.66mi
22 Emmet St Unit 10 Dayton, OH	1.0	1.0	650	$895	$1.38	45d	1	0.66mi
22 Emmet St Unit 18 Dayton, OH	1.0	1.0	500	$875	$1.75	16d	1	0.66mi
604 W Grand Ave Unit 9 Dayton, OH	1.0	1.0	550	$695	$1.26	45d	1	0.70mi
111 Grafton Ave Dayton, OH	1.0	1.0	660	$795	$1.20	25d	1	0.76mi
111 Grafton Ave Dayton, OH	1.0	1.0	660	$795	$1.20	45d	1	0.76mi
51 Grafton Ave Dayton, OH	1.0	1.0	532	$775	$1.46	5d	1	0.78mi
51 Grafton Ave Dayton, OH	1.0	1.0	532	$775	$1.46	45d	1	0.78mi
809 Herman Ave Dayton, OH	2.0	1.0	747	$700	$0.94	5d	1	0.78mi
104 Central Ave Dayton, OH	1.0	1.0	550	$710	$1.29	4d	1	0.79mi
115 W Monument Ave Dayton, OH	1.0–2.0	1.0–2.5	1053	$2,199	$2.09	4d	20	0.80mi
140 E Monument Ave Dayton, OH	3.0	1.0–2.0	1048	$1,952	$1.86	4d	11	0.84mi
364 Delaware Ave Unit 4 Dayton, OH	1.0	1.0	700	$675	$0.96	25d	1	0.85mi
617 W Riverview Ave Dayton, OH	1.0	1.0	525	$765	$1.46	16d	1	0.87mi
617 W Riverview Ave Dayton, OH	1.0	1.0	575	$725	$1.26	45d	1	0.87mi
39 Central Ave Dayton, OH	1.0	1.0	467	$680	$1.45	4d	6	0.87mi
307 E 1st St Dayton, OH	1.0	1.0	483	$1,270	$2.63	4d	9	0.95mi
329 E 1st St Dayton, OH	1.0	1.0	832	$1,405	$1.69	4d	15	0.95mi
119 Edgewood Ave Dayton, OH	1.0–2.0	1.0	817	$999	$1.22	25d	2	0.96mi
100 N Jefferson St Dayton, OH	1.0–2.0	1.0–2.0	800	$1,532	$1.92	5d	11	1.00mi
136 Lexington Ave Unit 1 Dayton, OH	1.0	1.0	700	$759	$1.08	23d	1	1.01mi
265 Victor Ave Dayton, OH	1.0	1.0	602	$699	$1.16	5d	1	1.02mi
204 Sears St Dayton, OH	3.0	1.0–2.5	1124	$2,228	$1.98	4d	10	1.03mi
79 W Norman Ave Unit A Dayton, OH	1.0	1.0	745	$750	$1.01	16d	1	1.05mi
848 Riverview Ter Apt 306 Dayton, OH	1.0	1.0	600	$900	$1.50	4d	1	1.06mi
848 Riverview Ter Unit 104 Dayton, OH	1.0	1.0	600	$1,100	$1.83	45d	1	1.06mi
848 Riverview Ter Unit 606 Dayton, OH	1.0	1.0	700	$900	$1.29	45d	1	1.06mi
246 Basswood Ave Unit 2 Dayton, OH	1.0	1.0	650	$650	$1.00	45d	1	1.11mi
112 Webster St Dayton, OH	2.0	1.0–2.0	802	$2,198	$2.74	4d	63	1.14mi
42 S Ludlow St Dayton, OH	1.0–3.0	1.0–2.0	860	$1,012	$1.18	45d	1	1.18mi
35 S Saint Clair St Dayton, OH	1.0–2.0	1.0–2.0	918	$1,844	$2.01	5d	18	1.19mi
2616 Newport Ave Dayton, OH	1.0	1.0	550	$745	$1.35	45d	1	1.20mi
2616 Newport Ave Unit 6 Dayton, OH	1.0	1.0	550	$725	$1.32	16d	1	1.20mi
500 E 3rd St Dayton, OH	1.0–2.0	1.0–2.0	935	$1,660	$1.78	5d	16	1.20mi
623 Troy St Unit A Dayton, OH	1.0	1.0	550	$695	$1.26	45d	1	1.20mi
623 Troy St Unit D Dayton, OH	1.0	1.0	550	$725	$1.32	4d	1	1.20mi
235 E Hillcrest Ave Dayton, OH	1.0	1.0	750	$775	$1.03	45d	1	1.25mi
3001 Idylwilde Blvd Unit 1B Dayton, OH	1.0	1.0	500	$750	$1.50	5d	1	1.28mi

Listing history 10 events

1. 2026-06-03
   days on market $79,000 Active 189 DOM
2. 2026-06-02
   days on market $79,000 Active 188 DOM
3. 2026-06-01
   days on market $79,000 Active 187 DOM
4. 2026-05-31
   days on market $79,000 Active 186 DOM
5. 2026-03-26
   price $82,000 1004-char remark

   Show marketing remark (987 chars)

   New Roof Installed 05/16/26! Great opportunity for a first time home buyer or investor!! This 2 bedroom, one bath bungalow with large 6' x 9' storage room offers a new kitchen with new stainless steel appliances. New bath. New carpet in both bedrooms. New laminate flooring in living room, kitchen and bath. New front door. Fresh paint throughout the home. Exterior painted three years ago. Fenced in back yard. Boiler system rebuilt 4 years ago and maintenance/safety check performed Nov 2025. New electric panel installed 4 years ago. New water heater three years ago. PEX plumbing installed servicing bathroom/kitchen and new PVC drain system to main drain installed 4 years ago. Family owned for 60 years. This property is conveniently located to Downtown Dayton providing numerous choices for dining, entertainment and recreation featuring Dayton Dragon's baseball, Riverscape Metropark, Oregon District and more. Easy access to I-75 and St. Rt. 4. Schedule your showing today!!

6. 2026-03-26
   price $82,000 987-char remark

   Show marketing remark (987 chars)

   New Roof Installed 05/16/26! Great opportunity for a first time home buyer or investor!! This 2 bedroom, one bath bungalow with large 6' x 9' storage room offers a new kitchen with new stainless steel appliances. New bath. New carpet in both bedrooms. New laminate flooring in living room, kitchen and bath. New front door. Fresh paint throughout the home. Exterior painted three years ago. Fenced in back yard. Boiler system rebuilt 4 years ago and maintenance/safety check performed Nov 2025. New electric panel installed 4 years ago. New water heater three years ago. PEX plumbing installed servicing bathroom/kitchen and new PVC drain system to main drain installed 4 years ago. Family owned for 60 years. This property is conveniently located to Downtown Dayton providing numerous choices for dining, entertainment and recreation featuring Dayton Dragon's baseball, Riverscape Metropark, Oregon District and more. Easy access to I-75 and St. Rt. 4. Schedule your showing today!!

7. 2026-03-05
   price $85,000 1004-char remark

   Show marketing remark (1004 chars)

   New Roof Installed 05/16/26! Great opportunity for a first time home buyer or investor!! This 2 bedroom, one bath bungalow with large 6' x 9' storage room offers a new kitchen with stainless steel appliances provided. New bath. New carpet in both bedrooms. New laminate flooring in living room, kitchen and bath. New front door. Fresh paint throughout the home. Exterior painted three years ago. Fenced in back yard. Boiler system rebuilt 4 years ago and maintenance/safety check performed Nov 2025. New electric panel installed 4 years ago. New water heater three years ago. PEX plumbing installed servicing bathroom/kitchen and new PVC drain system to main drain installed 4 years ago. Family owned for 60 years. This property is conveniently located to Downtown Dayton providing numerous choices for dining, entertainment and recreation featuring Dayton Dragon's baseball, Riverscape Metropark, Oregon District and more. Easy access to I-75 and St. Rt.4. Schedule your showing today!!

8. 2026-02-24
   price $85,000 987-char remark

   Show marketing remark (987 chars)

   New Roof Installed 05/16/26! Great opportunity for a first time home buyer or investor!! This 2 bedroom, one bath bungalow with large 6' x 9' storage room offers a new kitchen with new stainless steel appliances. New bath. New carpet in both bedrooms. New laminate flooring in living room, kitchen and bath. New front door. Fresh paint throughout the home. Exterior painted three years ago. Fenced in back yard. Boiler system rebuilt 4 years ago and maintenance/safety check performed Nov 2025. New electric panel installed 4 years ago. New water heater three years ago. PEX plumbing installed servicing bathroom/kitchen and new PVC drain system to main drain installed 4 years ago. Family owned for 60 years. This property is conveniently located to Downtown Dayton providing numerous choices for dining, entertainment and recreation featuring Dayton Dragon's baseball, Riverscape Metropark, Oregon District and more. Easy access to I-75 and St. Rt. 4. Schedule your showing today!!

9. 2025-11-26
   listed $87,000 Active 1004-char remark

   Show marketing remark (987 chars)

   New Roof Installed 05/16/26! Great opportunity for a first time home buyer or investor!! This 2 bedroom, one bath bungalow with large 6' x 9' storage room offers a new kitchen with new stainless steel appliances. New bath. New carpet in both bedrooms. New laminate flooring in living room, kitchen and bath. New front door. Fresh paint throughout the home. Exterior painted three years ago. Fenced in back yard. Boiler system rebuilt 4 years ago and maintenance/safety check performed Nov 2025. New electric panel installed 4 years ago. New water heater three years ago. PEX plumbing installed servicing bathroom/kitchen and new PVC drain system to main drain installed 4 years ago. Family owned for 60 years. This property is conveniently located to Downtown Dayton providing numerous choices for dining, entertainment and recreation featuring Dayton Dragon's baseball, Riverscape Metropark, Oregon District and more. Easy access to I-75 and St. Rt. 4. Schedule your showing today!!

10. 2025-11-26
    listed $87,000 Active 987-char remark

    Show marketing remark (987 chars)

    New Roof Installed 05/16/26! Great opportunity for a first time home buyer or investor!! This 2 bedroom, one bath bungalow with large 6' x 9' storage room offers a new kitchen with new stainless steel appliances. New bath. New carpet in both bedrooms. New laminate flooring in living room, kitchen and bath. New front door. Fresh paint throughout the home. Exterior painted three years ago. Fenced in back yard. Boiler system rebuilt 4 years ago and maintenance/safety check performed Nov 2025. New electric panel installed 4 years ago. New water heater three years ago. PEX plumbing installed servicing bathroom/kitchen and new PVC drain system to main drain installed 4 years ago. Family owned for 60 years. This property is conveniently located to Downtown Dayton providing numerous choices for dining, entertainment and recreation featuring Dayton Dragon's baseball, Riverscape Metropark, Oregon District and more. Easy access to I-75 and St. Rt. 4. Schedule your showing today!!

ⓘ 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: $606 · $50/mo
• Projected year-2 tax: $919 · $77/mo
• Expected delta: +$313/yr (+$26/mo · 51.7%)

ⓘ 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 (shaded) · 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,652
• − Mortgage interest: −$4,425
• − Property taxes: −$606
• − Insurance: −$395
• − Repairs & maintenance: −$932
• − Management: −$932
• − Depreciation: −$2,298
• Taxable income: $2,063
• Est. tax owed @ 24.0%: −$495
• After-tax cash flow: $2,737/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): 18,955
• Household income: $43,973
• Rent vs Own: 64.0% rent · 36.0% own
• Severe rent burden: 1475.0

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 (68%)
• Race & ethnicity: Black 68% White 23% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Italian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% 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: ▼ -125.58%
• Current HPI: 173.4962
• Rent YoY: ▲ 4.34%
• 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

-5.7% since first listed

6 events — show timeline

• 2026-03-26 Price Changed $82,000 WRIST
• 2026-03-26 Price Changed $82,000 Dayton MLS
• 2026-03-05 Price Changed $85,000 WRIST
• 2026-02-24 Price Changed $85,000 Dayton MLS
• 2025-11-26 Listed $87,000 Dayton MLS
• 2025-11-26 Listed $87,000 WRIST

Property tax history

-2.6%/yr

Latest (2025): $606 · -0.1% YoY. Source: county tax records.