2122 S Smithville Rd · Dayton, OH 45420

$124,900

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 51 Days on market

Built 1929 5,602 sqft lot $130/sqft · 16% below area Est $148k · 16% under

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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 +20.3/30.0
• ARV discount +14.5/15.0
• DSCR +6.4/10.0
• 1% rule +4.8/10.0
• Rent growth +3.7/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained home for sale, perfect for a rental property. Currently leased and VERY profitable.

Key facts

• Level lot
• Open porch
• 5,602 sq ft lot

Tags

• FULL UNFINISHED BASEMENT
• 2 CAR DETACHED GARAGE
• OPEN PORCH
• LEVEL LOT
• PUBLIC TRANSPORTATION

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Detached two-car garage
• Utilities: Natural gas available; Public water; Sewer available (storm sewer)
• Home design: Two-story frame home with aluminum siding
• Construction: Frame construction; Aluminum siding
• Exterior features: 40 x 140 lot; Residential zoning

Interior

• Kitchen: Range; Refrigerator; Laminate counters
• Bedrooms: Three bedrooms on the second floor
• Flooring: Laminate counters noted (flooring not specified)
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced-air heating (natural gas); Central air conditioning
• Interior features: Ceiling fans; Laminate countertops; Full unfinished basement
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $159 ($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 $122k (2.5% below list).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.

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); 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 (+4.8%/yr); 106 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $864 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 51 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago 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 $44k; list at $125k implies a 185% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,153 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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 1929 — 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 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: 0.98% ✗
• Cap rate: 7.82%
• Cash-on-cash: 5.47%
• DSCR: 1.24
• GRM: 8.5

CMA / ARV

• ARV (median comp): $147,824
• List price: $124,900
• Delta: -15.51%
• 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
2127 Moreland Ave	0.04mi	2/1.0 (-1)	960 (0%)	0mo	$134,000	$140	93
3312 Wayne Ave	0.42mi	3/2.0	948 (-1%)	2mo	$130,000	$137	73
4404 Woodcliffe Ave	0.39mi	2/1.0 (-1)	990 (+3%)	1mo	$127,500	$129	71
541 Watervliet Ave	0.33mi	2/2.0 (-1)	1,000 (+4%)	1mo	$175,000	$175	68
4620 Farnham Ave	0.56mi	3/1.0	900 (-6%)	1mo	$25,286	$28	63
2735 Argella Ave	0.69mi	3/2.0	962 (+0%)	2mo	$165,000	$172	62
2348 Fauver Ave	0.29mi	2/2.0 (-1)	1,080 (+12%)	1mo	$200,000	$185	56
1004 Chelsea Ave	0.47mi	2/1.0 (-1)	864 (-10%)	2mo	$165,000	$191	55
1035 Chelsea Ave	0.48mi	2/1.0 (-1)	864 (-10%)	2mo	$150,000	$174	54
2105 King Ave	0.40mi	2/1.0 (-1)	836 (-13%)	1mo	$125,000	$150	54
1710 Fauver	0.40mi	2/1.0 (-1)	1,086 (+13%)	1mo	$159,000	$146	54
2824 S Smithville Rd	0.72mi	2/1.0 (-1)	874 (-9%)	2mo	$95,000	$109	45

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 · 4.82% rent growth · sell at horizon

5-year hold

• IRR: -5.9%
• Equity multiple: 0.78×
• Total profit: $-7,832
• Equity at exit: $18,623

10-year hold

• IRR: 5.7%
• Equity multiple: 1.45×
• Total profit: $15,849
• Equity at exit: $10,799

Cash invested: $34,972 (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 45420

• Rents YoY: 4.8%
• Active inventory: 106
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,218 high
• Mortgage (P&I): −$655
• Tax from tax record: −$96 /mo · $1,147/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $159

Break-even live

Break-even rent $1,016

Max offer price $124,900

Occupancy floor 82%

Sensitivity live

Price	-10% $230	-5% $195	+0% $159	+5% $124	+10% $89
Rent	-10% $63	-5% $111	+0% $159	+5% $208	+10% $256
Rate	-1.0pp $222	-0.5pp $191	base $159	+0.5pp $127	+1.0pp $94

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1905 Coventry Rd Dayton, OH	2.0	1.0	1000	$1,250	$1.25	25d	1	0.28mi
2029 Brookline Ave Dayton, OH	2.0	1.0	990	$1,270	$1.28	16d	1	0.47mi
2416 Brookline Ave Dayton, OH	2.0	1.0	806	$895	$1.11	4d	1	0.56mi
1659 Hearthstone Dr Dayton, OH	3.0	1.0	1102	$1,195	$1.08	4d	1	0.60mi
1430 Coventry Rd Dayton, OH	2.0	1.0	1106	$1,125	$1.02	16d	1	0.73mi
3100 Linden Ave Unit 3102 Dayton, OH	2.0	1.0	1035	$995	$0.96	45d	1	0.75mi
2306 Alice St Dayton, OH	3.0	1.0	918	$1,200	$1.31	5d	1	0.75mi
854 Santa Cruz Ave Dayton, OH	3.0	1.0	1060	$1,300	$1.23	45d	1	0.82mi
2850 Hazel Ave Unit 1496064P Dayton, OH	3.0	2.0	850	$6,259	$7.36	20d	1	0.84mi
1410 Phillips Ave Unit 1 Dayton, OH	2.0	1.0	1000	$950	$0.95	45d	1	0.87mi
1238 Colwick Dr Dayton, OH	2.0	1.0	786	$1,250	$1.59	13d	1	0.89mi
1354 Ohmer St Unit 1354C Dayton, OH	2.0	1.0	900	$700	$0.78	45d	1	0.97mi
1354 Ohmer St Unit 1354A Dayton, OH	2.0	1.0	900	$675	$0.75	25d	1	0.97mi
922 Wilmington Ave Dayton, OH	2.0	1.0	720	$1,200	$1.67	25d	1	1.00mi
2012 Saint Charles Ave Dayton, OH	2.0	1.0	945	$1,250	$1.32	45d	1	1.03mi
2112 Patterson Rd Dayton, OH	3.0	1.0	1008	$1,425	$1.41	4d	1	1.03mi
3311 S Smithville Rd Dayton, OH	3.0	1.0	1019	$1,295	$1.27	45d	1	1.03mi
1828 Hazel Ave Dayton, OH	2.0	1.0	960	$1,435	$1.49	4d	1	1.03mi
1143 Blakley Dr Dayton, OH	3.0	1.0	947	$1,195	$1.26	16d	1	1.04mi
933 Wilmington Ave Dayton, OH	1.0–2.0	1.0–1.5	802	$980	$1.22	5d	8	1.04mi
737 Wilmington Ave Dayton, OH	2.0	1.0	1000	$950	$0.95	25d	1	1.06mi
1053 Wilmington Ave Dayton, OH	2.0–3.0	1.0–1.5	1025	$1,495	$1.46	4d	5	1.06mi
1059 Wilmington Ave Unit 1059 1 Dayton, OH	3.0	1.5	1100	$1,495	$1.36	45d	1	1.07mi
1029 Blakley Dr Dayton, OH	3.0	1.0	947	$1,300	$1.37	4d	1	1.16mi
809 Patterson Rd Dayton, OH	2.0	1.0–1.5	895	$1,075	$1.20	4d	7	1.21mi
1517 Rausch Ave Apt 4 Dayton, OH	2.0	1.0	950	$950	$1.00	4d	1	1.22mi
1517 Rausch Ave Dayton, OH	2.0	1.0	950	$950	$1.00	45d	1	1.22mi
1501 Rausch Ave Dayton, OH	2.0	1.0	865	$800	$0.92	25d	1	1.22mi
2308 Wayne Ave Dayton, OH	2.0	1.0	800	$895	$1.12	45d	1	1.24mi
1620 Gummer Ave Dayton, OH	2.0	1.0	875	$950	$1.09	5d	1	1.29mi
344 Firwood Dr Dayton, OH	1.0–3.0	1.0–1.5	739	$1,350	$1.83	4d	15	1.29mi
41 Patterson Village Dr Dayton, OH	1.0–2.0	1.0	553	$920	$1.66	5d	14	1.31mi
1671 Gummer Ave Dayton, OH	2.0	1.0	704	$1,100	$1.56	4d	1	1.32mi
2200 Wayne Ave Dayton, OH	2.0	1.0	748	$975	$1.30	4d	1	1.32mi
1371 Florence St Dayton, OH	2.0	1.0	850	$800	$0.94	5d	1	1.32mi
3603 S Smithville Rd Kettering, OH	2.0	1.0	950	$1,100	$1.16	25d	1	1.33mi
5345 Middlebury Rd Dayton, OH	3.0	1.0	864	$1,600	$1.85	45d	1	1.33mi
1762 Suman Ave Dayton, OH	2.0	1.0	804	$1,150	$1.43	23d	1	1.36mi
1770 Suman Ave Dayton, OH	2.0	1.0	904	$1,145	$1.27	45d	1	1.37mi
1300 Chardon Ct Dayton, OH	2.0	1.0	970	$1,200	$1.24	4d	1	1.37mi

Listing history 25 events

1. 2026-06-22
   days on market $124,900 Active 51 DOM
2. 2026-06-18
   days on market $124,900 Active 48 DOM
3. 2026-06-17
   days on market $124,900 Active 47 DOM
4. 2026-06-16
   days on market $124,900 Active 46 DOM
5. 2026-06-15
   days on market $124,900 Active 45 DOM
6. 2026-06-14
   days on market $124,900 Active 43 DOM
7. 2026-06-13
   days on market $124,900 Active 42 DOM
8. 2026-06-10
   days on market $124,900 Active 40 DOM
9. 2026-06-09
   days on market $124,900 Active 39 DOM
10. 2026-06-08
    days on market $124,900 Active 38 DOM
11. 2026-06-07
    days on market $124,900 Active 37 DOM
12. 2026-06-05
    days on market $124,900 Active 34 DOM
13. 2026-06-03
    days on market $124,900 Active 33 DOM
14. 2026-06-02
    days on market $124,900 Active 32 DOM
15. 2026-06-01
    days on market $124,900 Active 31 DOM
16. 2026-05-31
    days on market $124,900 Active 30 DOM
17. 2026-05-01
    listed $124,900 Active 423-char remark
18. 2017-06-15
    soldstatus $43,900 Sold 99-char remark

    Show marketing remark (99 chars)

    Well maintained home for sale, perfect for a rental property. Currently leased and VERY profitable.

19. 2017-06-15
    soldstatus $43,900 Closed 99-char remark

    Show marketing remark (99 chars)

    Well maintained home for sale, perfect for a rental property. Currently leased and VERY profitable.

20. 2017-05-31
    status Pending 99-char remark

    Show marketing remark (99 chars)

    Well maintained home for sale, perfect for a rental property. Currently leased and VERY profitable.

21. 2017-03-21
    price $43,900 99-char remark

    Show marketing remark (99 chars)

    Well maintained home for sale, perfect for a rental property. Currently leased and VERY profitable.

22. 2017-01-25
    listed $45,000 Active 99-char remark

    Show marketing remark (99 chars)

    Well maintained home for sale, perfect for a rental property. Currently leased and VERY profitable.

23. 2015-10-13
    historical
24. 2015-08-12
    price $48,000
25. 2015-06-24
    listed $50,000 Active

ⓘ 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: $1,147 · $96/mo
• Projected year-2 tax: $1,548 · $129/mo
• Expected delta: +$401/yr (+$33/mo · 34.9%)

ⓘ 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 ≥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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,613
• − Mortgage interest: −$6,996
• − Property taxes: −$1,147
• − Insurance: −$624
• − Repairs & maintenance: −$1,169
• − Management: −$1,169
• − Depreciation: −$3,633
• Taxable loss: −$126
• Est. tax savings @ 24.0%: +$30
• After-tax cash flow: $1,944/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): 24,411
• Household income: $60,588
• Rent vs Own: 37.6% rent · 62.4% own
• Severe rent burden: 856.0

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 (83%)
• Race & ethnicity: White 83% Black 7% Two or more races 6% Hispanic / Latino 3% Asian 3%
• Common ancestry: Lithuanian 3% Slovak 2% Italian 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 93% English-only · Other Indo-European 2% Spanish 2% Chinese 0%

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: ▼ -192.56%
• Current HPI: 241.6543
• Rent YoY: ▲ 4.82%
• 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

+149.8% since first listed

9 events — show timeline

• 2026-05-01 Listed $124,900 Dayton MLS
• 2017-06-15 Sold (MLS) $43,900 Dayton MLS
• 2017-06-15 Sold (MLS) $43,900 Dayton MLS
• 2017-05-31 Pending — Dayton MLS
• 2017-03-21 Price Changed $43,900 Dayton MLS
• 2017-01-25 Listed $45,000 Dayton MLS
• 2015-10-13 Listing Removed — Dayton MLS
• 2015-08-12 Price Changed $48,000 Dayton MLS
• 2015-06-24 Listed $50,000 Dayton MLS

Property tax history

-2.7%/yr

Latest (2025): $1,147 · -0.2% YoY. Source: county tax records.