215 E Linden Ave · Miamisburg, OH 45342

$649,900

4 bd · 1.5 ba · — sqft · MultiFamily · 82 Days on market

Built 1890 0.45 ac lot

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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 +29.5/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• 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 MLS

Very rare chance to own a truly iconic home that represents a piece of Miamisburg history. The home of it's 1st doctor. .. .Dr. John Treon. This beautiful home has been well maintained and sits on almost a 1/2 acre lot. The home has 3 or 4 bedrooms, 1.5 baths, formal dining and large living room with beautiful marble fireplace (there's also a marble fireplace in the primary bedroom), curved staircase, unfinished basement (with W/ D hook-up), and 3rd floor walk-up attic that has 2 rooms and holds so much possibilty for additional finished sq footage. OPPORTUNITY KNOCK'S HERE TOO! Here's another FANTASTIC feature of this property! There are 7 apartments too! Think of the cash flow here as an investor or an owner occupant!! The apartments range from an efficiency, 1 bedroom and 2 bedroom units. 4 are attached to the main home and 3 are ranch units behind the main home. There is a parking lot for tenants also! These units are always easy to rent and there are some long term tenants. The walk to all of thriving downtown Miamisburg offers is just a block or two! Both the main house and the ranch apartments are of brick construction. There is a detached 1 car garage and 1 car carport. You'll love the yard space too! There is a walk-out basement under a unit in the brick ranch building. Owner occupies the main house. This would be a very rentable home for the non-owner occupied Buyer. Current appox greoss rent is 60,000 yrearly. The main home could potentially be rented (potetial rent of $ 2200 x 12 mos=$ 26,400) This would bring a yearly rents to approx 86,400. Approx yrly expenses are $2800 insurance-$3600 water/sewer/trash-$10,300 taxes.

Key facts

• Curved staircase
• Unfinished basement
• 6 apartments

Tags

• CURVED STAIRCASE
• UNFINISHED BASEMENT
• 3RD FLOOR WALK-UP ATTIC
• 6 APARTMENTS
• PARKING LOT FOR TENANTS
• BRICK CONSTRUCTION

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath multifamily listed at $650k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $650k).
• Recommended offer: $611k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 2.9% in Miamisburg — 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 76/100 on livability (#228 in OH, #3,550 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, amenities F, commute F.
• Miamisburg City (suburban): math 52% / reading 61% proficiency, ranked #338 of 656 in OH (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Kinder Elementary School (math 47% / reading 47%, grade D-, #942 of 1,584 statewide, top 61%, 312 students, 58% FRL); Miamisburg Middle School (math 53% / reading 58%, grade B-, #321 of 654 statewide, top 51%, 1,160 students, 44% FRL); Miamisburg High School (math 34% / reading 73%, grade C-, #334 of 781 statewide, top 43%, 1,557 students, 33% FRL).
• Market conditions: Rents rising (+3.3%/yr); 116 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $8,622/mo this rent would consume 122% of the median local household income ($85k/yr) (locally 790% 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 $4k of loan paydown is wiped out by about $19k 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 + 3.3% rent growth), your $182k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($611k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y 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.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $610,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — 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. Schools are B-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?
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 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: 1.33% ✓
• Cap rate: 10.58%
• Cash-on-cash: 15.30%
• DSCR: 1.68
• GRM: 6.3

CMA / ARV

• ARV (median comp): $220,434
• List price: $649,900
• Delta: 194.83%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
230 S 5th St	0.21mi	4/2.0	1,728	11mo	$195,900	$113	67
235 S Main St	0.28mi	4/2.0	2,504	10mo	$176,000	$70	65
434 S 2nd St #432	0.25mi	4/2.0	2,418	12mo	$185,000	$77	63
309 Buckeye St	0.26mi	3/2.0 (-1)	2,248	10mo	$195,000	$87	60
409 N 4th St	0.39mi	4/2.0	1,582	15mo	$117,000	$74	55
718 E Sycamore St	0.48mi	5/2.0 (+1)	2,563	4mo	$210,000	$82	54
532 Buckeye St	0.33mi	4/2.0	2,112	20mo	$191,500	$91	54
111 Old Main St #111	0.19mi	5/5.0 (+1)	4,513	7mo	$175,000	$39	54
114-116 S 5th St	0.19mi	4/3.0	2,622	24mo	$185,000	$71	53
309 N First	0.39mi	4/2.5	—	18mo	$165,000	—	50
726 E Sycamore St	0.50mi	4/2.0	1,752	22mo	$27,500	$16	44

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 · 3.29% rent growth · sell at horizon

5-year hold

• IRR: 6.3%
• Equity multiple: 1.25×
• Total profit: $45,108
• Equity at exit: $96,902

10-year hold

• IRR: 16.0%
• Equity multiple: 2.32×
• Total profit: $240,495
• Equity at exit: $56,191

Cash invested: $181,972 (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 45342

• Rents YoY: 3.3%
• Active inventory: 116
• Price-to-rent: 44.0×

Monthly cashflow live

• Estimated rent: $8,622 high
• Mortgage (P&I): −$3,408
• Tax est. 1.5%: −$812 /mo · $9,748/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,811
• Net cashflow: $2,320

Break-even live

Break-even rent $5,685

Max offer price $649,900

Occupancy floor 68%

Sensitivity live

Price	-10% $2,769	-5% $2,545	+0% $2,320	+5% $2,096	+10% $1,871
Rent	-10% $1,639	-5% $1,979	+0% $2,320	+5% $2,661	+10% $3,001
Rate	-1.0pp $2,647	-0.5pp $2,485	base $2,320	+0.5pp $2,152	+1.0pp $1,980

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

Units	Beds	Baths	Est. rent
▸ 7× units	2	1.5	$8,624
Total (7 units)			$8,622

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: $162,475
• Closing costs: $19,497
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
121 S 5th St Unit 121 Miamisburg, OH	3.0	1.0	1512	$1,225	$0.81	16d	1	0.18mi
28 S 6th St Miamisburg, OH	4.0	2.0	1752	$1,856	$1.06	45d	1	0.29mi
548 E Pearl St Unit B Miamisburg, OH	4.0	1.5	—	$1,375	—	45d	1	0.38mi
849 Johnson Ave Miamisburg, OH	4.0	2.5	1442	$2,500	$1.73	4d	1	1.23mi

Listing history 4 events

1. 2026-03-11
   listed $649,900 Active 1660-char remark

   Show marketing remark (1660 chars)

   Very rare chance to own a truly iconic home that represents a piece of Miamisburg history. The home of it's 1st doctor. .. .Dr. John Treon. This beautiful home has been well maintained and sits on almost a 1/2 acre lot. The home has 3 or 4 bedrooms, 1.5 baths, formal dining and large living room with beautiful marble fireplace (there's also a marble fireplace in the primary bedroom), curved staircase, unfinished basement (with W/ D hook-up), and 3rd floor walk-up attic that has 2 rooms and holds so much possibilty for additional finished sq footage. OPPORTUNITY KNOCK'S HERE TOO! Here's another FANTASTIC feature of this property! There are 7 apartments too! Think of the cash flow here as an investor or an owner occupant!! The apartments range from an efficiency, 1 bedroom and 2 bedroom units. 4 are attached to the main home and 3 are ranch units behind the main home. There is a parking lot for tenants also! These units are always easy to rent and there are some long term tenants. The walk to all of thriving downtown Miamisburg offers is just a block or two! Both the main house and the ranch apartments are of brick construction. There is a detached 1 car garage and 1 car carport. You'll love the yard space too! There is a walk-out basement under a unit in the brick ranch building. Owner occupies the main house. This would be a very rentable home for the non-owner occupied Buyer. Current appox greoss rent is 60,000 yrearly. The main home could potentially be rented (potetial rent of $ 2200 x 12 mos=$ 26,400) This would bring a yearly rents to approx 86,400. Approx yrly expenses are $2800 insurance-$3600 water/sewer/trash-$10,300 taxes.

2. 2026-03-05
   listed $649,900 Active 1660-char remark

   Show marketing remark (1660 chars)

   Very rare chance to own a truly iconic home that represents a piece of Miamisburg history. The home of it's 1st doctor. .. .Dr. John Treon. This beautiful home has been well maintained and sits on almost a 1/2 acre lot. The home has 3 or 4 bedrooms, 1.5 baths, formal dining and large living room with beautiful marble fireplace (there's also a marble fireplace in the primary bedroom), curved staircase, unfinished basement (with W/ D hook-up), and 3rd floor walk-up attic that has 2 rooms and holds so much possibilty for additional finished sq footage. OPPORTUNITY KNOCK'S HERE TOO! Here's another FANTASTIC feature of this property! There are 7 apartments too! Think of the cash flow here as an investor or an owner occupant!! The apartments range from an efficiency, 1 bedroom and 2 bedroom units. 4 are attached to the main home and 3 are ranch units behind the main home. There is a parking lot for tenants also! These units are always easy to rent and there are some long term tenants. The walk to all of thriving downtown Miamisburg offers is just a block or two! Both the main house and the ranch apartments are of brick construction. There is a detached 1 car garage and 1 car carport. You'll love the yard space too! There is a walk-out basement under a unit in the brick ranch building. Owner occupies the main house. This would be a very rentable home for the non-owner occupied Buyer. Current appox greoss rent is 60,000 yrearly. The main home could potentially be rented (potetial rent of $ 2200 x 12 mos=$ 26,400) This would bring a yearly rents to approx 86,400. Approx yrly expenses are $2800 insurance-$5000 water/sewer/trash-$10,300 taxes.

3. 2014-09-02
   historical
4. 2013-11-18
   listed $229,000

ⓘ 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 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 · 20 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $103,464
• − Mortgage interest: −$36,405
• − Property taxes: −$9,748
• − Insurance: −$3,250
• − Repairs & maintenance: −$8,277
• − Management: −$8,277
• − Depreciation: −$18,906
• Taxable income: $18,601
• Est. tax owed @ 24.0%: −$4,464
• After-tax cash flow: $23,377/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: Miamisburg City
• NCES district ID: 3904439
• Math proficiency: 52% ▼ -13.00%
• Reading proficiency: 61% ▼ -7.00%
• Median HH income: $53,394
• Composite: 48.47/100
• National rank: #2128
• State rank: #338 of 656 in OH

Livability — Miamisburg

• Score: 76/100
• State rank: #228
• US rank: #3550

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miamisburg, OH
• County: Montgomery County · 459,541 people
• City population: 36,152
• Metro: Dayton-Kettering, OH
• Population (ZIP): 36,152
• Household income: $84,907
• Rent vs Own: 34.9% rent · 65.1% own
• Severe rent burden: 790.0

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 6% Two or more races 4% Asian 4% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Italian 2% Serbian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Other Asian/Pacific 3% Spanish 2% Other Indo-European 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: ▼ -183.01%
• Current HPI: 227.3999
• Rent YoY: ▲ 3.29%
• 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

+183.8% since first listed

4 events — show timeline

• 2026-03-11 Listed $649,900 Dayton MLS
• 2026-03-05 Listed $649,900 Dayton MLS
• 2014-09-02 Listing Removed — Dayton MLS
• 2013-11-18 Listed $229,000 Dayton MLS