3405 E 5th St · Dayton, OH 45403

$85,000

2 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 200 Days on market

Built 1905 2,583 sqft lot $84/sqft · 18% below area Est $103k · 18% under

---

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 +28.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.0/10.0
• Rent growth +3.4/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great starter home * Water heater 2021 * HVAC 8-9-2011. Property is being sold in as-is condition. All offers must include proof of funds or current pre-approval letter.

Key facts

• 2,583 sq ft lot
• Garage
• Built 1905

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $270 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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 (+3.7%/yr); 77 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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).
• This rent runs 32% of the median local income ($38k/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 $588 of loan paydown is wiped out by about $3k 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 + 3.7% rent growth), your $24k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 200 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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 $46k; list at $85k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 200 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.20% ✓
• Cap rate: 10.11%
• Cash-on-cash: 13.62%
• DSCR: 1.61
• GRM: 6.9

CMA / ARV

• ARV (median comp): $103,469
• List price: $85,000
• Delta: -17.85%
• 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
507 Sheridan Ave	0.20mi	3/1.0 (+1)	1,008 (0%)	1mo	$115,500	$115	85
3509 E 2nd St	0.38mi	2/1.0	930 (-8%)	2mo	$105,000	$113	68
1413 Huffman Ave	0.40mi	3/1.0 (+1)	1,092 (+8%)	1mo	$125,000	$114	62
4516 Glen Martin Dr	0.71mi	3/1.0 (+1)	1,015 (+1%)	1mo	$147,000	$145	60
23 N Mcgee St	0.35mi	2/1.0	1,148 (+14%)	2mo	$45,000	$39	59
312 Dawnview Ave	0.71mi	3/1.0 (+1)	1,023 (+2%)	1mo	$199,900	$195	59
231 N Westview Ave	0.61mi	3/1.0 (+1)	960 (-5%)	0mo	$160,000	$167	58
254 N Wright Ave	0.71mi	3/1.0 (+1)	998 (-1%)	3mo	$140,000	$140	58
213 N Delmar Ave	0.57mi	3/1.0 (+1)	922 (-8%)	3mo	$150,000	$163	52
23 Murray Dr	0.46mi	3/2.0 (+1)	1,131 (+12%)	1mo	$150,000	$133	48
41 N Westview Ave	0.40mi	3/2.0 (+1)	858 (-15%)	0mo	$150,000	$175	47
4533 Maughn Dr	0.73mi	3/2.0 (+1)	900 (-11%)	1mo	$127,900	$142	38

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 · 3.71% rent growth · sell at horizon

5-year hold

• IRR: 4.5%
• Equity multiple: 1.17×
• Total profit: $4,154
• Equity at exit: $12,674

10-year hold

• IRR: 14.6%
• Equity multiple: 2.21×
• Total profit: $28,773
• Equity at exit: $7,349

Cash invested: $23,800 (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 45403

• Home prices YoY: -3.7%
• Rents YoY: 3.7%
• Active inventory: 77
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,022 high
• Mortgage (P&I): −$446
• Tax from tax record: −$56 /mo · $674/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $270

Break-even live

Break-even rent $680

Max offer price $85,000

Occupancy floor 69%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
210 S Hedges St Dayton, OH	2.0	1.5	1048	$1,045	$1.00	21d	1	0.05mi
224 S Irwin St Unit 226 Dayton, OH	2.0	1.0	992	$900	$0.91	3d	1	0.13mi
201 Pleasant Ave Unit 203 Dayton, OH	2.0	1.0	1250	$975	$0.78	23d	1	0.25mi
314 Sheridan Ave Dayton, OH	3.0	1.0	1258	$1,150	$0.91	3d	1	0.25mi
120 S Monmouth St Dayton, OH	2.0	1.0	1000	$950	$0.95	44d	1	0.31mi
3817 E 5th St Dayton, OH	2.0	1.0	1178	$1,295	$1.10	3d	1	0.32mi
3707 E 3rd St Unit 3705 Dayton, OH	3.0	1.0	1410	$1,045	$0.74	23d	1	0.34mi
3719 E 3rd St Unit 3717 Dayton, OH	3.0	1.0	1092	$1,100	$1.01	3d	1	0.36mi
101 N Irwin St Dayton, OH	2.0	1.0	900	$1,100	$1.22	3d	1	0.38mi
1356 Huffman Ave Unit 1356 Dayton, OH	2.0	1.0	864	$975	$1.13	44d	1	0.41mi
820 Huffman Ave Unit 1/2 Dayton, OH	1.0	1.0	768	$695	$0.90	44d	1	0.45mi
4013 E 3rd St Dayton, OH	2.0	1.5	1144	$1,095	$0.96	14d	1	0.47mi
1300 Chardon Ct Dayton, OH	2.0	1.0	970	$1,200	$1.24	3d	1	0.48mi
1371 Florence St Dayton, OH	2.0	1.0	850	$800	$0.94	3d	1	0.53mi
144 N Quentin Ave Dayton, OH	3.0	1.0	1038	$1,600	$1.54	44d	1	0.60mi
4403 Burkhardt Ave Dayton, OH	3.0	1.0–2.0	800	$933	$1.17	3d	1	0.61mi
2351 E 5th St Unit 2349-U Dayton, OH	1.0	1.0	900	$750	$0.83	44d	1	0.65mi
211 N Cherrywood Ave Unit 2 Dayton, OH	2.0	1.0	950	$795	$0.84	3d	1	0.68mi
29 N Garfield St Dayton, OH	3.0	1.0	1092	$1,000	$0.92	23d	1	0.72mi
515 Mertland Ave Dayton, OH	2.0	1.0	876	$950	$1.08	23d	1	0.72mi
517 Mertland Ave Dayton, OH	2.0	1.0	876	$875	$1.00	14d	1	0.72mi
424 Bantz Ct Dayton, OH	3.0	1.0	1192	$1,050	$0.88	3d	1	0.72mi
1620 Gummer Ave Dayton, OH	2.0	1.0	875	$950	$1.09	3d	1	0.74mi
1704 Huffman Ave Unit 1706 Huffman Dayton, OH	2.0	1.0	896	$900	$1.00	3d	1	0.76mi
1671 Gummer Ave Dayton, OH	2.0	1.0	704	$1,100	$1.56	3d	1	0.79mi
15 John St Unit 15 Dayton, OH	2.0	1.0	1200	$800	$0.67	23d	1	0.80mi
4644 Burkhardt Ave Dayton, OH	1.0–2.0	1.0	725	$1,095	$1.51	3d	9	0.82mi
1762 Suman Ave Dayton, OH	2.0	1.0	804	$1,150	$1.43	21d	1	0.87mi
637 Creighton Ave Dayton, OH	3.0	1.0	1144	$1,350	$1.18	14d	1	0.87mi
1354 Ohmer St Unit 1354C Dayton, OH	2.0	1.0	900	$700	$0.78	44d	1	0.88mi
1354 Ohmer St Unit 1356C Dayton, OH	2.0	2.0	1200	$900	$0.75	44d	1	0.88mi
1354 Ohmer St Unit 1354A Dayton, OH	2.0	1.0	900	$675	$0.75	23d	1	0.88mi
1770 Suman Ave Dayton, OH	2.0	1.0	904	$1,145	$1.27	44d	1	0.88mi
2200 E 5th St Dayton, OH	2.0	1.0	1000	$825	$0.82	23d	1	0.89mi
334 Blackwood Ave Unit 2 Dayton, OH	2.0	1.0	1000	$850	$0.85	23d	1	0.90mi
334 Blackwood Ave Unit 3 Dayton, OH	2.0	1.0	1000	$850	$0.85	3d	1	0.90mi
706 Kolping Ave Unit 706 Dayton, OH	3.0	1.5	1172	$1,300	$1.11	3d	1	0.93mi
2012 Saint Charles Ave Dayton, OH	2.0	1.0	945	$1,250	$1.32	44d	1	1.01mi
1029 Blakley Dr Dayton, OH	3.0	1.0	947	$1,300	$1.37	3d	1	1.02mi
531 S Hayden Ave Dayton, OH	3.0	1.0	1200	$1,325	$1.10	11d	1	1.07mi

Listing history 11 events

1. 2025-11-09
   listed $85,000 Active 173-char remark

   Show marketing remark (173 chars)

   Great starter home * Water heater 2021 * HVAC 8-9-2011. Property is being sold in as-is condition. All offers must include proof of funds or current pre-approval letter.

2. 2025-07-23
   historical
3. 2025-03-19
   status Active
4. 2025-01-07
   historical ActiveUnderContract
5. 2024-03-25
   price $84,900
6. 2024-02-06
   listed $85,000 Active
7. 2023-06-08
   historical
8. 2023-04-17
   price $79,900
9. 2023-02-27
   listed $95,000 Active
10. 2004-11-12
    soldstatus $45,500
11. 1981-01-16
    soldstatus $20,073

ⓘ 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: $674 · $56/mo
• Projected year-2 tax: $1,000 · $83/mo
• Expected delta: +$326/yr (+$27/mo · 48.4%)

ⓘ 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 4/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,266
• − Mortgage interest: −$4,761
• − Property taxes: −$674
• − Insurance: −$425
• − Repairs & maintenance: −$981
• − Management: −$981
• − Depreciation: −$2,473
• Taxable income: $1,970
• Est. tax owed @ 24.0%: −$473
• After-tax cash flow: $2,769/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): 13,608
• Household income: $38,323
• Rent vs Own: 60.0% rent · 40.0% own
• Severe rent burden: 1071.0

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 (66%)
• Race & ethnicity: White 66% Hispanic / Latino 15% Black 14% Two or more races 8% Native American 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 13% 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: ▼ -17.40%
• Current HPI: 447.4034
• Rent YoY: ▲ 3.71%
• 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

+323.5% since first listed

11 events — show timeline

• 2025-11-09 Listed $85,000 Dayton MLS
• 2025-07-23 Listing Removed — Dayton MLS
• 2025-03-19 Relisted — Dayton MLS
• 2025-01-07 Contingent — Dayton MLS
• 2024-03-25 Price Changed $84,900 Dayton MLS
• 2024-02-06 Listed $85,000 Dayton MLS
• 2023-06-08 Listing Removed — Dayton MLS
• 2023-04-17 Price Changed $79,900 Dayton MLS
• 2023-02-27 Listed $95,000 Dayton MLS
• 2004-11-12 Sold (Public Records) $45,500 Public Records
• 1981-01-16 Sold (Public Records) $20,073 Public Records

Property tax history

-0.7%/yr

Latest (2025): $674 · +2.4% YoY. Source: county tax records.