51 Vincent St · Dayton, OH 45405

$45,000

4 bd · 2.0 ba · 1,760 sqft · MultiFamily public records · 45 Days on market

Built 1919 5,319 sqft lot $26/sqft · 62% below area

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

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

Listing remarks MLS

Great investment property - 4 bedroom 2 bathroom duplex set close to downtown. Property is in need of a full rehab. No utilities are on and none will be turned on. Sold as is. Agent owned

Key facts

• Functional layout
• New roof
• 5,319 sq ft lot

Tags

• NEW ROOF
• FUNCTIONAL LAYOUT

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: No garage
• Utilities: Natural gas available
• Home design: Two-story building; Single building with 2 total units
• Construction: Block and vinyl siding exterior
• Exterior features: Residential zoning; Lot dimensions approximately 190 x 28

Interior

• Bedrooms: Four or more bedrooms (unit type)
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas heating
• Interior features: Full, unfinished basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $45k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $552/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 35.7% 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); 134 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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).
• At $1,857/mo this rent would consume 51% of the median local household income ($44k/yr) (locally 1475% 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 $311 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $23k; list at $45k implies a 96% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% 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 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 4.13% ✓
• Cap rate: 35.74%
• Cash-on-cash: 105.18%
• DSCR: 5.68
• GRM: 2.0

CMA / ARV

• ARV (median comp): $117,138
• List price: $45,000
• Delta: -61.58%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21-23 Girard Ct	0.08mi	4/2.0	1,918 (+9%)	21mo	$65,000	$34	64
22 Ridge Ave	0.54mi	3/3.0 (-1)	1,890 (+7%)	18mo	$169,495	$90	38

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 · 4.34% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.21×
• Total profit: $65,641
• Equity at exit: $6,710

10-year hold

• IRR: —
• Equity multiple: 13.59×
• Total profit: $158,670
• Equity at exit: $3,891

Cash invested: $12,600 (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: 134
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,857 high
• Mortgage (P&I): −$236
• Tax from tax record: −$108 /mo · $1,295/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $1,104

Break-even live

Break-even rent $459

Max offer price $45,000

Occupancy floor 36%

Sensitivity live

Price	-10% $1,130	-5% $1,117	+0% $1,104	+5% $1,092	+10% $1,079
Rent	-10% $958	-5% $1,031	+0% $1,104	+5% $1,178	+10% $1,251
Rate	-1.0pp $1,127	-0.5pp $1,116	base $1,104	+0.5pp $1,093	+1.0pp $1,081

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,856
Total (2 units)			$1,857

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
534 Geyer St Dayton, OH	4.0	1.0	1640	$1,530	$0.93	25d	1	0.24mi
1501 Viola Ave Dayton, OH	3.0	1.0	1952	$1,175	$0.60	15d	1	0.40mi
138 Rockwood Ave Dayton, OH	3.0	1.5	1439	$1,200	$0.83	25d	1	0.50mi
136 Rockwood Ave Dayton, OH	3.0	1.5	1439	$1,200	$0.83	45d	1	0.50mi
338 Kenwood Ave Dayton, OH	3.0	1.5	1512	$1,195	$0.79	45d	1	0.59mi
132 Wroe Ave Unit 132 Dayton, OH	3.0	2.5	1934	$1,297	$0.67	45d	1	0.64mi
932 Harvard Blvd Dayton, OH	5.0	2.0	1986	$1,500	$0.76	45d	1	0.83mi
942 Harvard Blvd Dayton, OH	3.0	2.0	1596	$1,200	$0.75	4d	1	0.84mi
821 Herman Ave Dayton, OH	3.0	1.0	1456	$1,100	$0.76	22d	1	0.87mi
2327 Eastview Ave Dayton, OH	5.0	1.0	1290	$1,300	$1.01	45d	1	0.92mi
140 E Monument Ave Dayton, OH	3.0	1.0–2.0	1048	$2,344	$2.24	4d	11	0.93mi
234 Santa Clara Ave Dayton, OH	3.0	1.0	1368	$1,125	$0.82	45d	1	0.93mi
41 W Fairview Ave Unit 2 Dayton, OH	3.0	1.0	1452	$1,200	$0.83	15d	1	0.97mi
101 W Norman Ave Unit 101 Dayton, OH	3.0	1.0	1600	$945	$0.59	45d	1	0.99mi
18 Holt St Unit 24 Dayton, OH	3.0	2.5	1350	$1,450	$1.07	15d	1	1.03mi
167 W Hudson Ave Dayton, OH	3.0	1.5	1344	$1,185	$0.88	45d	1	1.05mi
1225 Amherst Pl Dayton, OH	3.0	1.0	1548	$1,300	$0.84	15d	1	1.07mi
1011 N Broadway St Dayton, OH	3.0	1.5	1700	$950	$0.56	45d	1	1.10mi
181 W Norman Ave Dayton, OH	3.0	2.0	1228	$1,150	$0.94	45d	1	1.11mi
321 Deeds Ave Unit 319 Dayton, OH	4.0	2.0	1794	$1,100	$0.61	45d	1	1.11mi
204 Sears St Dayton, OH	3.0	1.0–2.5	1124	$2,793	$2.48	4d	10	1.12mi
200 Hart St Dayton, OH	3.0	1.0	1304	$1,250	$0.96	25d	1	1.13mi
201 W Norman Ave Dayton, OH	3.0	1.0	1424	$1,200	$0.84	45d	1	1.14mi
253 E Hillcrest Ave Dayton, OH	3.0	2.5	2569	$1,800	$0.70	4d	1	1.16mi
531 Maryland Ave Dayton, OH	4.0	1.5	1962	$1,700	$0.87	15d	1	1.19mi
26 W Beechwood Ave Dayton, OH	3.0	1.5	1468	$1,050	$0.72	45d	1	1.31mi
424 Lexington Ave Dayton, OH	3.0	2.0	1536	$1,025	$0.67	45d	1	1.33mi
439 W Fairview Ave Dayton, OH	3.0	1.0	1500	$1,200	$0.80	45d	1	1.35mi
317 Fernwood Ave Dayton, OH	3.0	1.0	1320	$1,100	$0.83	12d	1	1.35mi
39 E Maplewood Ave Dayton, OH	4.0	1.5	1560	$1,050	$0.67	4d	1	1.38mi
1119 Superior Ave Unit 1119 Dayton, OH	3.0	1.0	1435	$1,350	$0.94	4d	1	1.41mi
42 Pointview Ave Unit 42 Dayton, OH	3.0	2.0	1240	$1,200	$0.97	4d	1	1.42mi
1743 Radcliffe Rd Dayton, OH	3.0	1.5	1729	$1,200	$0.69	45d	1	1.45mi

Listing history 30 events

1. 2026-06-18
   days on market $45,000 Active 45 DOM
2. 2026-06-17
   days on market $45,000 Active 44 DOM
3. 2026-06-16
   days on market $45,000 Active 43 DOM
4. 2026-06-15
   days on market $45,000 Active 42 DOM
5. 2026-06-14
   days on market $45,000 Active 40 DOM
6. 2026-06-13
   days on market $45,000 Active 39 DOM
7. 2026-06-10
   days on market $45,000 Active 37 DOM
8. 2026-06-09
   days on market $45,000 Active 36 DOM
9. 2026-06-08
   days on market $45,000 Active 35 DOM
10. 2026-06-07
    days on market $45,000 Active 34 DOM
11. 2026-06-05
    days on market $45,000 Active 31 DOM
12. 2026-06-03
    days on market $45,000 Active 30 DOM
13. 2026-06-02
    days on market $45,000 Active 29 DOM
14. 2026-06-01
    days on market $45,000 Active 28 DOM
15. 2026-05-31
    days on market $45,000 Active 27 DOM
16. 2026-05-04
    listed $45,000 Active 371-char remark
17. 2025-11-17
    soldstatus $23,000
18. 2025-11-07
    soldstatus $23,000 Closed 188-char remark

    Show marketing remark (188 chars)

    Great investment property - 4 bedroom 2 bathroom duplex set close to downtown. Property is in need of a full rehab. No utilities are on and none will be turned on. Sold as is. Agent owned

19. 2025-10-26
    status Pending 188-char remark

    Show marketing remark (188 chars)

    Great investment property - 4 bedroom 2 bathroom duplex set close to downtown. Property is in need of a full rehab. No utilities are on and none will be turned on. Sold as is. Agent owned

20. 2025-10-23
    price $27,900 188-char remark

    Show marketing remark (188 chars)

    Great investment property - 4 bedroom 2 bathroom duplex set close to downtown. Property is in need of a full rehab. No utilities are on and none will be turned on. Sold as is. Agent owned

21. 2025-10-15
    status Active 188-char remark

    Show marketing remark (188 chars)

    Great investment property - 4 bedroom 2 bathroom duplex set close to downtown. Property is in need of a full rehab. No utilities are on and none will be turned on. Sold as is. Agent owned

22. 2025-10-15
    price $29,900 188-char remark

    Show marketing remark (188 chars)

    Great investment property - 4 bedroom 2 bathroom duplex set close to downtown. Property is in need of a full rehab. No utilities are on and none will be turned on. Sold as is. Agent owned

23. 2025-10-07
    status Pending 188-char remark

    Show marketing remark (188 chars)

    Great investment property - 4 bedroom 2 bathroom duplex set close to downtown. Property is in need of a full rehab. No utilities are on and none will be turned on. Sold as is. Agent owned

24. 2025-10-05
    price $34,900 188-char remark

    Show marketing remark (188 chars)

    Great investment property - 4 bedroom 2 bathroom duplex set close to downtown. Property is in need of a full rehab. No utilities are on and none will be turned on. Sold as is. Agent owned

25. 2025-09-30
    listed $39,900 Active 188-char remark

    Show marketing remark (188 chars)

    Great investment property - 4 bedroom 2 bathroom duplex set close to downtown. Property is in need of a full rehab. No utilities are on and none will be turned on. Sold as is. Agent owned

26. 1997-12-05
    soldstatus $42,000
27. 1997-09-04
    soldstatus $383,500
28. 1994-01-25
    soldstatus $36,000
29. 1990-08-31
    soldstatus $29,500
30. 1989-05-12
    soldstatus $16,000

ⓘ 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: $1,295 · $108/mo
• Projected year-2 tax: $1,295 · $108/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,284
• − Mortgage interest: −$2,521
• − Property taxes: −$1,295
• − Insurance: −$225
• − Repairs & maintenance: −$1,783
• − Management: −$1,783
• − Depreciation: −$1,309
• Taxable income: $13,368
• Est. tax owed @ 24.0%: −$3,208
• After-tax cash flow: $10,044/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

+181.2% since first listed

15 events — show timeline

• 2026-05-04 Listed $45,000 Dayton MLS
• 2025-11-17 Sold (Public Records) $23,000 Public Records
• 2025-11-07 Sold (MLS) $23,000 Dayton MLS
• 2025-10-26 Pending — Dayton MLS
• 2025-10-23 Price Changed $27,900 Dayton MLS
• 2025-10-15 Relisted — Dayton MLS
• 2025-10-15 Price Changed $29,900 Dayton MLS
• 2025-10-07 Pending — Dayton MLS
• 2025-10-05 Price Changed $34,900 Dayton MLS
• 2025-09-30 Listed $39,900 Dayton MLS
• 1997-12-05 Sold (Public Records) $42,000 Public Records
• 1997-09-04 Sold (Public Records) $383,500 Public Records
• 1994-01-25 Sold (Public Records) $36,000 Public Records
• 1990-08-31 Sold (Public Records) $29,500 Public Records
• 1989-05-12 Sold (Public Records) $16,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $1,295 · +2.9% YoY. Source: county tax records.