2641 Gladstone St · Moraine, OH 45439

$147,900

3 bd · 1.0 ba · 878 sqft · SingleFamily public records · 13 Days on market

Built 1948 5,998 sqft lot

---

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 +19.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• Schools +5.2/10.0
• 1% rule +4.9/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this white Cape Cod full of updates and move-in ready! This inviting 3-bedroom, 1-bath home features new flooring, fresh updates throughout, and a beautifully updated feel while maintaining its classic character. The kitchen includes new cabinets and sink, a new stove with oven and refrigerator, while the heating and air conditioning system were replaced in 2022 for added comfort and peace of mind. An oversized laundry area adds extra convenience and storage space. Step outside to enjoy the large backyard, complete with a mature peach tree and a relaxing back porch-perfect for entertaining or quiet evenings at home. A 1-car garage completes this wonderful property, offering

Key facts

• New stove
• New flooring
• Large backyard

Tags

• NEW FLOORING
• NEW STOVE
• NEW REFRIGERATOR
• OVERSIZED LAUNDRY AREA
• LARGE BACKYARD
• MATURE PEACH TREE

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Attached one-car garage
• Utilities: Electric service available; Public or municipal water and sewer (assumed based on zoning)
• Home design: 2-story residence; Aluminum siding
• Construction: Aluminum siding construction
• Exterior features: Lot dimensions approximately 50 x 120; Residential zoning

Interior

• Kitchen: Kitchen (15 x 16); Range; Refrigerator
• Bedrooms: Main level bedroom (12 x 7); Main level bedroom (12 x 11)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Crawl space basement; Total of 5 rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $148k.

Deal economics

• At list price, monthly cash flow is $166 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (1.5% below list).
• Recommended offer: $146k (1.5% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 5.5% in Moraine — 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 52/100 on livability (#1,167 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Kettering City School District (suburban): math 54% / reading 68% proficiency, ranked #277 of 656 in OH (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 38 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• This rent runs 34% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $39k; list at $148k implies a 279% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,718 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
5. 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.
6. 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.
7. 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: 0.99% ✗
• Cap rate: 7.64%
• Cash-on-cash: 4.82%
• DSCR: 1.21
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $95,702
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2721 Holman St	0.08mi	3/1.5	960 (+9%)	1mo	$105,000	$109	78
2629 Holman St	0.06mi	3/1.5	1,008 (+15%)	4mo	$77,220	$77	67
2744 Holman St	0.14mi	3/1.0	952 (+8%)	21mo	$185,000	$194	62

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.8%
• Equity multiple: 0.68×
• Total profit: $-13,370
• Equity at exit: $22,052

10-year hold

• IRR: 0.7%
• Equity multiple: 1.05×
• Total profit: $1,998
• Equity at exit: $12,788

Cash invested: $41,412 (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 45439

• Home prices YoY: -34.5%
• Active inventory: 38
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,457 high
• Mortgage (P&I): −$776
• Tax from tax record: −$148 /mo · $1,771/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $166

Break-even live

Break-even rent $1,247

Max offer price $147,900

Occupancy floor 84%

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: $36,975
• Closing costs: $4,437
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2800 Cadillac St Moraine, OH	3.0	1.0	748	$1,295	$1.73	3d	1	0.21mi
3929 Fulton Ave Moraine, OH	2.0	1.0	788	$750	$0.95	19d	1	1.11mi
3924 Fulton Ave Moraine, OH	3.0	1.0	813	$1,800	$2.21	3d	1	1.14mi
4217 Fulton Ave Moraine, OH	2.0	1.0	800	$1,325	$1.66	44d	1	1.18mi
4042 Ellery Ave Moraine, OH	3.0	1.0	720	$1,195	$1.66	44d	1	1.21mi
3657 Elmira Dr Dayton, OH	2.0	1.0	936	$1,450	$1.55	44d	1	1.33mi
3928 Elmira Dr Dayton, OH	3.0	1.0	1041	$1,550	$1.49	3d	1	1.34mi
3781 Keswick Ln Dayton, OH	3.0	1.0	1040	$1,750	$1.68	3d	1	1.48mi

Listing history 10 events

1. 2026-06-07
   statusdays on market $147,900 Pending 13 DOM
2. 2026-06-05
   days on market $147,900 Active 12 DOM
3. 2026-06-03
   days on market $147,900 Active 11 DOM
4. 2026-06-02
   days on market $147,900 Active 10 DOM
5. 2026-06-01
   days on market $147,900 Active 9 DOM
6. 2026-05-31
   days on market $147,900 Active 8 DOM
7. 2026-05-23
   listed $147,900 Active
8. 2004-03-17
   soldstatus $39,000
9. 1985-03-11
   soldstatus $23,000
10. 1985-03-11
    soldstatus $23,000

ⓘ 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: $1,771 · $148/mo
• Projected year-2 tax: $2,039 · $170/mo
• Expected delta: +$268/yr (+$22/mo · 15.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°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: $17,486
• − Mortgage interest: −$8,285
• − Property taxes: −$1,771
• − Insurance: −$740
• − Repairs & maintenance: −$1,399
• − Management: −$1,399
• − Depreciation: −$4,303
• Taxable loss: −$409
• Est. tax savings @ 24.0%: +$98
• After-tax cash flow: $2,095/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: Kettering City School District
• NCES district ID: 3904418
• Math proficiency: 54% ▼ -21.00%
• Reading proficiency: 68% ▼ -9.00%
• Median HH income: $50,353
• Composite: 51.89/100
• National rank: #1653
• State rank: #277 of 656 in OH

Livability — Moraine

• Score: 52/100
• State rank: #1167
• US rank: #25010

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety F User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Moraine, OH
• County: Montgomery County · 459,541 people
• City population: 11,914
• Metro: Dayton-Kettering, OH
• Population (ZIP): 11,914
• Household income: $52,035
• Rent vs Own: 44.5% rent · 55.5% own
• Severe rent burden: 381.0

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 15% Two or more races 10% Hispanic / Latino 9% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Italian 2% Iranian 1% Slovak 1%
• Foreign-born: 4% · Canada, China, Vietnam
• Languages at home: 93% English-only · Spanish 5% Chinese 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: ▼ -151.06%
• Current HPI: 287.2064
• 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

+543.0% since first listed

4 events — show timeline

• 2026-05-23 Listed $147,900 Dayton MLS
• 2004-03-17 Sold (Public Records) $39,000 Public Records
• 1985-03-11 Sold (Public Records) $23,000 Public Records
• 1985-03-11 Sold (Public Records) $23,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $1,771 · -0.0% YoY. Source: county tax records.