1613 Gummer Ave · Dayton, OH 45403

$299,900

16 bd · 1.0 ba · 4,480 sqft · MultiFamily public records · 7 Days on market

Built 1930 4,356 sqft 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

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

Great investment opportunity to add to your portfolio! This well-maintained 4-unit multifamily property features four 1-bedroom, 1-bathroom apartments and offers immediate upside with one vacant unit ready for occupancy. Fully occupied this property generates $3,000+ a month.

Key facts

• 4,356 sq ft lot
• Built 1930
• Listed 7 days

Property features AI

Finance

• Financial info: For sale; Reported gross income: $38,160; Lease amount listed as $800

Exterior

• Parking: No garage
• Utilities: Public water; Sewer available
• Home design: Two-story building; Single building with multiple units (4 units)
• Construction: Cedar siding
• Exterior features: Residential zoning; Lot approximately 0.1 acre

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: One-bedroom units (building contains four 1-bedroom units)
• Bathrooms: Four full bathrooms (one per unit)
• Heating & cooling: Electric heating; Wall air-conditioning units
• Interior features: Full basement
• Laundry & utility: Has heating (electric); Has cooling (wall units)

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $516/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $300k).
• Cap rate 14.6% 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; lower-income renter base — watch delinquency; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $5,357/mo this rent would consume 168% of the median local household income ($38k/yr) (locally 1071% 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 $2k of loan paydown is wiped out by about $9k 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 $84k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $52k; list at $300k implies a 482% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $299,900

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. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.79% ✓
• Cap rate: 14.56%
• Cash-on-cash: 29.51%
• DSCR: 2.31
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.71% rent growth · sell at horizon

5-year hold

• IRR: 24.8%
• Equity multiple: 2.04×
• Total profit: $86,919
• Equity at exit: $44,716

10-year hold

• IRR: 33.1%
• Equity multiple: 4.12×
• Total profit: $261,652
• Equity at exit: $25,930

Cash invested: $83,972 (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 45403

• Home prices YoY: -3.7%
• Rents YoY: 3.7%
• Active inventory: 77
• Price-to-rent: 18.7×

Monthly cashflow live

• Estimated rent: $5,357 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$469 /mo · $5,632/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,125
• Net cashflow: $2,065

Break-even live

Break-even rent $2,743

Max offer price $299,900

Occupancy floor 56%

Sensitivity live

Price	-10% $2,235	-5% $2,150	+0% $2,065	+5% $1,980	+10% $1,895
Rent	-10% $1,642	-5% $1,853	+0% $2,065	+5% $2,277	+10% $2,488
Rate	-1.0pp $2,216	-0.5pp $2,141	base $2,065	+0.5pp $1,987	+1.0pp $1,908

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$5,356
Total (4 units)			$5,357

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $299,900 Active 7 DOM
2. 2026-06-17
   days on market $299,900 Active 6 DOM
3. 2026-06-16
   days on market $299,900 Active 5 DOM
4. 2026-06-15
   days on market $299,900 Active 4 DOM
5. 2026-06-14
   days on market $299,900 Active 2 DOM
6. 2026-06-13
   remarks 276-char remark
7. 2026-06-13
   listed $299,900 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: $5,632 · $469/mo
• Projected year-2 tax: $5,632 · $469/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 ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $64,284
• − Mortgage interest: −$16,799
• − Property taxes: −$5,632
• − Insurance: −$1,500
• − Repairs & maintenance: −$5,143
• − Management: −$5,143
• − Depreciation: −$8,724
• Taxable income: $21,344
• Est. tax owed @ 24.0%: −$5,122
• After-tax cash flow: $19,658/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

+669.0% since first listed

4 events — show timeline

• 2026-06-08 Listed $299,900 Dayton MLS
• 1987-05-05 Sold (Public Records) $51,500 Public Records
• 1987-05-05 Sold (Public Records) $51,500 Public Records
• 1985-04-02 Sold (Public Records) $39,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $5,632 · -1.0% YoY. Source: county tax records.