464-466 Dearborn Ave · Dayton, OH 45417

$169,000

4 bd · 2.0 ba · 1,880 sqft · MultiFamily public records · 13 Days on market

Built 1914 5,319 sqft lot Est $156k · 8% 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 +27.4/30.0
• DSCR +9.6/10.0
• 1% rule +6.1/10.0
• ARV discount +3.8/15.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Don’t Miss this Phenomenal Side-by-Side Duplex in Dayton—the Ultimate Cash-Flowing Asset for your Investment Portfolio! Sold 100% AS-IS, this multi-family property represents an incredible, straightforward addition to your portfolio where you can collect immediate revenue without the headache of repair negotiations. Perfect for seasoned investors or buyers looking to “house-hack!” This property features two spacious units totaling over 1,880 SqFt of living space. One side is a completely Vacant TurnKey Unit ready for immediate occupancy or to be filled at top market rent! The occupied side features Good Tenants already in place, keeping the asset performing seamlessl

Key facts

• Side-by-side duplex
• Vacant turnkey unit
• Immediate income

Tags

• SIDE-BY-SIDE DUPLEX
• VACANT TURNKEY UNIT
• IMMEDIATE INCOME
• QUICK ACCESS TO I-75

Property features AI

Finance

• Financial info: Property for sale; Reported gross income: $13,744; Lease example amount listed: $850; Tenant pays electricity, gas, and heat

Exterior

• Parking: No garage; public parking
• Utilities: Public water; Sewer available
• Home design: Two-story building; Frame construction with wood siding
• Construction: Frame construction; Wood siding
• Exterior features: Porch; Residential lot

Interior

• Bedrooms: Two-bedroom units (2 total units)
• Bathrooms: Two full bathrooms (across the property)
• Heating & cooling: Central air conditioning; Heating by electric and natural gas
• Interior features: Unfinished basement; Porch

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $169k.

Deal economics

• At list price, monthly cash flow is $494 ($6k/yr) — positive. Per door: $247/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Cap rate 9.8% 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); 135 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• At $1,879/mo this rent would consume 61% 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 $1k of loan paydown is wiped out by about $5k 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 $47k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $140k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.11% ✓
• Cap rate: 9.80%
• Cash-on-cash: 12.53%
• DSCR: 1.56
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $156,040
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
444 Groveland Ave	0.06mi	3/3.0 (-1)	1,824 (-3%)	23mo	$150,000	$82	64
457 Dearborn Ave	0.03mi	3/3.0 (-1)	1,800 (-4%)	23mo	$150,000	$83	64

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 · 4.06% rent growth · sell at horizon

5-year hold

• IRR: 3.3%
• Equity multiple: 1.13×
• Total profit: $6,031
• Equity at exit: $25,198

10-year hold

• IRR: 13.7%
• Equity multiple: 2.14×
• Total profit: $53,940
• Equity at exit: $14,612

Cash invested: $47,320 (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: 135
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $1,879 high
• Mortgage (P&I): −$886
• Tax from tax record: −$34 /mo · $403/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $494

Break-even live

Break-even rent $1,254

Max offer price $169,000

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,878
Total (2 units)			$1,879

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
42 S Mathison St Dayton, OH	3.0	1.0	1300	$1,220	$0.94	3d	1	0.80mi
40 S Mathison St Dayton, OH	3.0	1.0	1300	$1,200	$0.92	14d	1	0.80mi
216 N Ardmore Ave Dayton, OH	3.0	1.0	1500	$1,100	$0.73	3d	1	0.87mi
47 Leroy St Dayton, OH	3.0	1.0	1456	$1,200	$0.82	44d	1	1.06mi
437 Lorenz Ave Dayton, OH	3.0	1.0	1322	$1,200	$0.91	23d	1	1.09mi
617 Westwood Ave Dayton, OH	3.0	1.0	1304	$1,050	$0.81	44d	1	1.19mi

Listing history 11 events

1. 2026-06-18
   days on market $169,000 Active 13 DOM
2. 2026-06-17
   days on market $169,000 Active 12 DOM
3. 2026-06-16
   days on market $169,000 Active 11 DOM
4. 2026-06-15
   days on market $169,000 Active 10 DOM
5. 2026-06-14
   days on market $169,000 Active 8 DOM
6. 2026-06-13
   days on market $169,000 Active 7 DOM
7. 2026-06-10
   days on market $169,000 Active 5 DOM
8. 2026-06-09
   days on market $169,000 Active 4 DOM
9. 2026-06-08
   days on market $169,000 Active 3 DOM
10. 2026-06-07
    remarks 675-char remark
11. 2026-06-07
    listed $169,000 Active 2 DOM

ⓘ 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: $403 · $34/mo
• Projected year-2 tax: $1,520 · $127/mo
• Expected delta: +$1,117/yr (+$93/mo · 276.9%)

ⓘ 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 ≥104°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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,548
• − Mortgage interest: −$9,467
• − Property taxes: −$403
• − Insurance: −$845
• − Repairs & maintenance: −$1,804
• − Management: −$1,804
• − Depreciation: −$4,916
• Taxable income: $3,309
• Est. tax owed @ 24.0%: −$794
• After-tax cash flow: $5,135/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

+20.7% since first listed

2 events — show timeline

• 2026-06-05 Listed $169,000 Dayton MLS
• 2023-12-18 Sold (Public Records) $140,000 Public Records

Property tax history

-7.7%/yr

Latest (2025): $403 · -0.2% YoY. Source: county tax records.