1008 Eleanor Ave · Piqua, OH 45356

$449,900

12 bd · 6.0 ba · 4,320 sqft · MultiFamily public records · 1 Days on market

Built 1999 0.31 ac lot ↓ 7% since listing

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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 +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Schools +4.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Rents 1008- $645.00 (been there 15 yr) 1010 rents $700.00. 1012 rents $675.00. 1014 rents $675.00

Key facts

• 0.31 acre lot
• Built 1999

Property features AI

Finance

• Financial info: 4 total dwelling units

Exterior

• Utilities: Public sewer
• Home design: Multi-family property; Built in 1999
• Construction: Brick and vinyl siding exterior; Slab foundation
• Exterior features: Patio; Public water supply

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Garbage disposal
• Flooring: Laminate; Tile
• Bathrooms: 8 total bathrooms (4 full, 4 half)
• Heating & cooling: Heat pump for heating; Heat pump for cooling
• Interior features: Dishwasher; Disposal; Range; Refrigerator; Laminate flooring; Tile flooring; No basement

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/1.5-bath units multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $271/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $450k).
• Cap rate 9.2% vs local median 4.7% in Piqua — 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 62/100 on livability (#887 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Piqua City (rural): math 45% / reading 50% proficiency, ranked #482 of 656 in OH (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 138 active listings in the ZIP; 326 units permitted in Miami County in 2024 (0 in 5+ unit buildings).
• At $5,049/mo this rent would consume 88% of the median local household income ($69k/yr) (locally 748% 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 $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y ago; this cycle's ask is 67% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $250k; list at $450k implies a 80% gain — meaningful room to come down on a strong offer.

Recommended offer $449,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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: 1.12% ✓
• Cap rate: 9.19%
• Cash-on-cash: 10.33%
• DSCR: 1.46
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.8%
• Equity multiple: 0.97×
• Total profit: $-3,870
• Equity at exit: $67,082

10-year hold

• IRR: 8.9%
• Equity multiple: 1.68×
• Total profit: $85,383
• Equity at exit: $38,899

Cash invested: $125,972 (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 45356

• Active inventory: 138
• Price-to-rent: 29.7×

Monthly cashflow live

• Estimated rent: $5,049 medium
• Mortgage (P&I): −$2,359
• Tax from tax record: −$357 /mo · $4,287/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,060
• Net cashflow: $1,085

Break-even live

Break-even rent $3,676

Max offer price $449,900

Occupancy floor 74%

Sensitivity live

Price	-10% $1,339	-5% $1,212	+0% $1,085	+5% $957	+10% $830
Rent	-10% $686	-5% $885	+0% $1,085	+5% $1,284	+10% $1,484
Rate	-1.0pp $1,311	-0.5pp $1,199	base $1,085	+0.5pp $968	+1.0pp $849

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	1.5	$5,048
Total (4 units)			$5,049

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: $112,475
• Closing costs: $13,497
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-17
   remarks 303-char remark
2. 2026-06-17
   listed $449,900 Active 1 DOM

ⓘ 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: $4,287 · $357/mo
• Projected year-2 tax: $5,653 · $471/mo
• Expected delta: +$1,366/yr (+$114/mo · 31.9%)

ⓘ 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 ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,588
• − Mortgage interest: −$25,201
• − Property taxes: −$4,287
• − Insurance: −$2,250
• − Repairs & maintenance: −$4,847
• − Management: −$4,847
• − Depreciation: −$13,088
• Taxable income: $6,068
• Est. tax owed @ 24.0%: −$1,456
• After-tax cash flow: $11,560/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: Piqua City
• NCES district ID: 3904464
• Math proficiency: 45% ▼ -11.00%
• Reading proficiency: 50% ▼ -7.00%
• Median HH income: $41,751
• Composite: 39.91/100
• National rank: #3855
• State rank: #482 of 656 in OH

Livability — Piqua

• Score: 62/100
• State rank: #887
• US rank: #16830

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Piqua, OH
• County: Miami County · 85,667 people
• City population: 25,237
• Metro: Dayton-Kettering, OH
• Population (ZIP): 25,237
• Household income: $69,188
• Rent vs Own: 29.4% rent · 70.6% own
• Severe rent burden: 748.0

Population outlook (Miami County) Hauer SSP2

• Today (2025): 107,816 people
• By 2030: 108,896 · +1.0%
• By 2040: 109,581 · +1.6%
• By 2050: 108,110 · +0.3%
• By 2075: 101,523 · -5.8%
• By 2100: 85,787 · -20.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 3% Black 2% Hispanic / Latino 1%
• Common ancestry: Iranian 2% Italian 2% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1% Vietnamese 0%

Political lean MEDSL · Miami

• 2024 margin: Solid R (+45.1) · D 27.0% · R 72.1%
• 2008→2024 swing: -16.6pp toward R · 2008: -28.5pp · 2024: -45.1pp
• All cycles: 2024: R+45.1 2020: R+44.3 2016: R+45.6 2012: R+35.6 2008: R+28.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -137.96%
• Current HPI: 251.435
• 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

-7.4% since first listed

8 events — show timeline

• 2018-08-07 Sold (MLS) $250,000 WRIST
• 2018-08-07 Sold (MLS) $250,000 Dayton MLS
• 2018-08-07 Sold (MLS) $250,000 Dayton MLS
• 2018-06-21 Pending — Dayton MLS
• 2018-06-11 Relisted — Dayton MLS
• 2018-05-30 Pending — Dayton MLS
• 2018-05-14 Listed $270,000 WRIST
• 2018-05-14 Listed $270,000 Dayton MLS

Property tax history

-0.2%/yr

Latest (2025): $4,287 · -7.0% YoY. Source: county tax records.