130 Bonner St #128 · Dayton, OH 45410

$245,000

5 bd · 2.0 ba · 2,988 sqft · MultiFamily · 42 Days on market

Built 1900 Good condition 2,740 sqft lot $82/sqft · 11% below area Est $275k · 11% under ↓ 4% since listing

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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 +26.5/30.0
• ARV discount +12.4/15.0
• DSCR +9.0/10.0
• 1% rule +7.1/10.0
• Rent growth +5.0/5.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Great opportunity to own a cash flowing double in Historic South Park. Live in one and get rental income from the other. Updates include plumbing, electric, new furnaces, new hot water heaters, freshly painted units, new vinyl plank flooring. 3 & 2 beds and 1 bath per side, would be a perfect rental to UD students, Miami Valley Hospital employees, professionals working downtown. Unit 128 side is a 3 bed 1 bath with an unfinished walk-up attic that is loaded with potential. The first floor boasts a large living room, dining room, huge kitchen and full bath. The rent on this unit was 950 and is now vacant. Unit 130 is a 2-bedroom unit with current rent at 850. These tenants are month to

Key facts

• Historic south park
• Fenced in backyard
• New furnaces

Tags

• HISTORIC SOUTH PARK
• NEW FURNACES
• NEW HOT WATER HEATERS
• FRESHLY PAINTED UNITS
• NEW VINYL PLANK FLOORING
• FENCED IN BACKYARD

Property features AI

Finance

• Financial info: Offered for sale; Gross income listed as $21,600

Exterior

• Parking: No garage
• Utilities: Natural gas available; Public water; Storm sewer
• Home design: Frame construction; 2-story building
• Construction: Frame construction; Cellar foundation
• Exterior features: Residential zoning; Lot approximately 0.063 acres

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Units include two-bedroom and three-bedroom layouts
• Bathrooms: Two full bathrooms (total across property)
• Heating & cooling: Forced air heating
• Interior features: Two-unit property (one 2-bedroom unit and one 3-bedroom unit); Cellar foundation

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $245k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $646 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $245k).
• Recommended offer: $238k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 7.4% in Dayton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+11.4%/yr); 92 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $2,961/mo this rent would consume 76% of the median local household income ($47k/yr) (locally 961% 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 $2k of loan paydown is wiped out by about $7k 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 + 8.0% rent growth), your $69k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $237,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.21% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.30%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

• ARV (median comp): $275,122
• List price: $245,000
• Delta: -10.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
361 Park Dr	0.27mi	6/2.0 (+1)	2,896 (-3%)	0mo	$238,000	$82	77
1025-1027 Wayne Ave	0.21mi	6/2.0 (+1)	3,077 (+3%)	14mo	$270,500	$88	69
558 Wyoming St #554	0.33mi	6/2.0 (+1)	3,182 (+6%)	10mo	$289,000	$91	61
246 Oak St	0.21mi	5/5.0	2,652 (-11%)	2mo	$285,000	$107	58
419-421 Alberta	0.25mi	6/2.0 (+1)	2,600 (-13%)	6mo	$242,000	$93	57
34-36 Hess St	0.50mi	6/3.0 (+1)	2,800 (-6%)	1mo	$310,000	$111	56
38 - 40 Greenwood Ave	0.42mi	6/2.5 (+1)	3,294 (+10%)	6mo	$267,650	$81	51
38 - 40 Greenwood Ave Unit 38 - 40	0.42mi	6/2.5 (+1)	3,294 (+10%)	6mo	$267,650	$81	51
38 Greenwood Ave	0.42mi	6/2.5 (+1)	3,294 (+10%)	6mo	$267,650	$81	51
2 Glencoe Ave	0.50mi	6/3.5 (+1)	3,408 (+14%)	1mo	$330,000	$97	41
49-51 Burns Ave	0.43mi	4/4.0 (-1)	2,560 (-14%)	19mo	$235,000	$92	28

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 6.1%
• Equity multiple: 1.25×
• Total profit: $17,140
• Equity at exit: $36,530

10-year hold

• IRR: 19.5%
• Equity multiple: 3.03×
• Total profit: $139,311
• Equity at exit: $21,183

Cash invested: $68,600 (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 45410

• Home prices YoY: -21.4%
• Rents YoY: 11.4%
• Active inventory: 92
• Price-to-rent: 13.5×

Monthly cashflow live

• Estimated rent: $2,961 high
• Mortgage (P&I): −$1,285
• Tax est. 1.5%: −$306 /mo · $3,675/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$622
• Net cashflow: $646

Break-even live

Break-even rent $2,143

Max offer price $245,000

Occupancy floor 73%

Sensitivity live

Price	-10% $815	-5% $731	+0% $646	+5% $561	+10% $477
Rent	-10% $412	-5% $529	+0% $646	+5% $763	+10% $880
Rate	-1.0pp $769	-0.5pp $708	base $646	+0.5pp $583	+1.0pp $518

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,515
1× unit	2	1	$1,446
Total (2 units)			$2,961

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
320 Park Dr Dayton, OH	4.0	3.0	2100	$2,400	$1.14	14d	1	0.22mi
319 Wyoming St Dayton, OH	4.0	2.5	2064	$2,000	$0.97	3d	1	0.24mi
1603 Manette Pl Dayton, OH	4.0	2.0	2000	$1,695	$0.85	14d	1	0.49mi
1422 E 3rd St Dayton, OH	6.0	3.0	3327	$1,800	$0.54	14d	1	1.00mi

Listing history 13 events

1. 2026-06-18
   days on market $245,000 Active 42 DOM
2. 2026-06-17
   days on market $245,000 Active 41 DOM
3. 2026-06-16
   days on market $245,000 Active 40 DOM
4. 2026-06-15
   days on market $245,000 Active 39 DOM
5. 2026-06-14
   days on market $245,000 Active 37 DOM
6. 2026-06-13
   days on market $245,000 Active 36 DOM
7. 2026-06-10
   days on market $245,000 Active 34 DOM
8. 2026-06-09
   days on market $245,000 Active 33 DOM
9. 2026-06-08
   days on market $245,000 Active 32 DOM
10. 2026-06-07
    days on market $245,000 Active 31 DOM
11. 2026-06-05
    status $245,000 Active 28 DOM
12. 2026-05-05
    price $245,000 711-char remark
13. 2026-04-27
    listed $255,000 Active 711-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°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: $35,532
• − Mortgage interest: −$13,724
• − Property taxes: −$3,675
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,843
• − Management: −$2,843
• − Depreciation: −$7,127
• Taxable income: $4,096
• Est. tax owed @ 24.0%: −$983
• After-tax cash flow: $6,770/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This property is in good condition with minor wear. It's a great opportunity to own a cash-flowing double in Historic South Park. The units have been recently updated with new furnaces and hot water heaters, and the kitchen and bathrooms are in good condition. The exterior could benefit from a fresh coat of paint and new gutters to enhance curb appeal and resale value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Replace gutters — Improves drainage and extends roof life

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Replace gutters — Improves drainage and extends roof life ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 14,694
• Household income: $46,651
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 961.0

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% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 2% Iranian 2% Slovak 2%
• Foreign-born: 5% · Canada, United Kingdom
• Languages at home: 91% English-only · Spanish 6% Tagalog/Filipino 1% Other Asian/Pacific 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: ▼ -100.61%
• Current HPI: 369.3938
• Rent YoY: ▲ 11.37%
• 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

-3.9% since first listed

4 events — show timeline

• 2026-06-04 Relisted — Dayton MLS
• 2026-05-25 Pending — Dayton MLS
• 2026-05-05 Price Changed $245,000 Dayton MLS
• 2026-04-27 Listed $255,000 Dayton MLS