3109 Shroyer Rd · Kettering, OH 45429

$145,000

2 bd · 1.0 ba · 998 sqft · SingleFamily public records · 41 Days on market

Built 1946 5,001 sqft lot $145/sqft · 33% below area Est $217k · 33% under ↓ 3% since listing

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +11.8/30.0
• 1% rule +5.2/10.0
• Schools +5.2/10.0
• Livability +4.2/5.0
• DSCR +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits in desirable Kettering! This 3-bedroom home with a detached 2-car garage offers strong potential for investors, flippers, or owner-occupants looking to add value and make it their own. The home features a functional floor plan, spacious living areas, and a good-size yard with plenty of room to enjoy outdoor living, gardening, or entertaining. Conveniently located near shopping, dining, parks, schools, and major highways. Property needs TLC and is being sold as-is. Priced aggressively for a quick sale and full of upside potential. Great opportunity to build equity in a sought-after location. Schedule your showing today!

Key facts

• Good-size yard
• Outdoor living
• Conveniently located

Tags

• DETACHED 2-CAR GARAGE
• FUNCTIONAL FLOOR PLAN
• GOOD-SIZE YARD
• OUTDOOR LIVING
• CONVENIENTLY LOCATED

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Attached two-car garage
• Utilities: Public water and sewer (standard residential services implied)
• Home design: Two-story; Brick construction
• Construction: Brick exterior
• Exterior features: Residential lot

Interior

• Kitchen: Main level kitchen (approx. 9 x 13)
• Bedrooms: Main level bedroom (approx. 12 x 11); Main level bedroom (approx. 10 x 11); Second level bedroom (approx. 30 x 10)
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Full, partially finished basement; 6 total rooms
• Laundry & utility: Basement laundry room (approx. 20 x 5)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $-39 ($-464/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (4.7% below list).
• Meets the 1% rule at list price ($1k rent vs $145k).
• Recommended offer: $138k (4.7% below list) — sets the bar for cash-flow.
• Cap rate 6.0% vs local median 4.4% in Kettering — 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 83/100 on livability (#61 in OH, #922 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, cost of living A+; Watch: commute 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: 81 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $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

• It's been on market 41 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $138,172 (4.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
3. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 1.02% ✓
• Cap rate: 5.97%
• Cash-on-cash: -1.14%
• DSCR: 0.95
• GRM: 8.2

CMA / ARV

• ARV (median comp): $217,395
• List price: $145,000
• Delta: -33.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2913 San Rae Dr	0.26mi	2/1.0	960 (-4%)	3mo	$210,000	$219	79
2725 Shroyer Rd	0.28mi	3/1.0 (+1)	967 (-3%)	1mo	$235,000	$243	76
308 E Dorothy Ln	0.26mi	2/2.0	888 (-11%)	4mo	$212,500	$239	62
2637 Oakley Ave	0.65mi	3/1.5 (+1)	998 (0%)	1mo	$205,000	$205	62
321 E Dorothy Ln	0.25mi	3/1.0 (+1)	888 (-11%)	4mo	$172,000	$194	62
2601 Oakley Ave	0.71mi	3/1.0 (+1)	998 (0%)	4mo	$181,000	$181	58
2513 Hazelwood Ave	0.73mi	3/1.0 (+1)	1,008 (+1%)	5mo	$175,000	$174	56
2721 Aerial Ave	0.42mi	3/1.0 (+1)	1,128 (+13%)	2mo	$200,000	$177	52
825 Brookfield Rd	0.61mi	2/1.0	1,104 (+11%)	4mo	$168,500	$153	51
3826 California Ave	0.74mi	2/1.0	1,104 (+11%)	3mo	$195,602	$177	46
355 Hadley Ave	0.74mi	2/2.0	1,120 (+12%)	5mo	$290,000	$259	37
2600 Oakley Ave	0.72mi	3/2.0 (+1)	1,140 (+14%)	1mo	$215,000	$189	32

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: -18.0%
• Equity multiple: 0.36×
• Total profit: $-25,812
• Equity at exit: $21,620

10-year hold

• IRR: -10.1%
• Equity multiple: 0.38×
• Total profit: $-25,054
• Equity at exit: $12,537

Cash invested: $40,600 (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 45429

• Active inventory: 81
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,474 high
• Mortgage (P&I): −$760
• Tax from tax record: −$382 /mo · $4,589/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $-39

Break-even live

Break-even rent $1,523

Max offer price $138,172

Occupancy floor 98%

Sensitivity live

Price	-10% $43	-5% $2	+0% $-39	+5% $-80	+10% $-121
Rent	-10% $-155	-5% $-97	+0% $-39	+5% $20	+10% $78
Rate	-1.0pp $34	-0.5pp $-2	base $-39	+0.5pp $-76	+1.0pp $-114

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
508 Schuyler Dr Dayton, OH	3.0	1.0	1120	$2,075	$1.85	3d	1	0.66mi
2820 Harvey Ave Dayton, OH	2.0	1.0	900	$1,350	$1.50	44d	1	0.69mi
539 Corona Ave Unit A Dayton, OH	1.0	1.0	700	$900	$1.29	44d	1	0.77mi
719 Wiltshire Blvd Apt 2 Dayton, OH	1.0	1.0	600	$895	$1.49	3d	1	0.91mi
719 Wiltshire Blvd Unit 1 Dayton, OH	1.0	1.0	600	$895	$1.49	22d	1	0.91mi
440 Lonsdale Ave #1 Dayton, OH	2.0	1.0	1050	$1,450	$1.38	12d	1	1.05mi
516 Mossoak Dr Unit 520 Mossoak Kettering, OH	1.0	1.0	725	$925	$1.28	44d	1	1.05mi
4421 Grayson St Dayton, OH	3.0	1.0	1040	$1,745	$1.68	24d	1	1.36mi
301 Henrich Dr Dayton, OH	3.0	1.0	1040	$1,745	$1.68	3d	1	1.46mi

Listing history 16 events

1. 2026-06-18
   days on market $145,000 Active 41 DOM
2. 2026-06-17
   days on market $145,000 Active 40 DOM
3. 2026-06-16
   days on market $145,000 Active 39 DOM
4. 2026-06-15
   days on market $145,000 Active 38 DOM
5. 2026-06-14
   days on market $145,000 Active 36 DOM
6. 2026-06-13
   days on market $145,000 Active 35 DOM
7. 2026-06-10
   days on market $145,000 Active 33 DOM
8. 2026-06-09
   days on market $145,000 Active 32 DOM
9. 2026-06-08
   days on market $145,000 Active 31 DOM
10. 2026-06-07
    days on market $145,000 Active 30 DOM
11. 2026-06-05
    days on market $145,000 Active 27 DOM
12. 2026-06-03
    days on market $145,000 Active 26 DOM
13. 2026-06-02
    days on market $145,000 Active 25 DOM
14. 2026-06-01
    days on market $145,000 Active 24 DOM
15. 2026-05-31
    days on market $145,000 Active 23 DOM
16. 2026-05-08
    listed $150,000 Active 645-char remark

ⓘ 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: $4,589 · $382/mo
• Projected year-2 tax: $4,589 · $382/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 17 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: $17,689
• − Mortgage interest: −$8,122
• − Property taxes: −$4,589
• − Insurance: −$725
• − Repairs & maintenance: −$1,415
• − Management: −$1,415
• − Depreciation: −$4,218
• Taxable loss: −$2,795
• Est. tax savings @ 24.0%: +$671
• After-tax cash flow: $207/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 — Kettering

• Score: 83/100
• State rank: #61
• US rank: #922

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kettering, OH
• County: Montgomery County · 459,541 people
• City population: 73,116
• Metro: Dayton-Kettering, OH
• Population (ZIP): 26,347
• Household income: $80,210
• Rent vs Own: 30.2% rent · 69.8% own
• Severe rent burden: 889.0

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 (86%)
• Race & ethnicity: White 86% Two or more races 5% Black 5% Hispanic / Latino 3% Asian 2%
• Common ancestry: Italian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 95% English-only · Spanish 2% Arabic 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: ▼ -172.24%
• Current HPI: 274.1505
• 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

-3.3% since first listed

2 events — show timeline

• 2026-05-28 Price Changed $145,000 Dayton MLS
• 2026-05-08 Listed $150,000 Dayton MLS

Property tax history

+10.8%/yr

Latest (2025): $4,589 · +12.1% YoY. Source: county tax records.