1014 Eleanor Ave · Piqua, OH 45356

$449,900

12 bd · 6.0 ba · 4,320 sqft · MultiFamily · 5 Days on market

Built 1999 Good condition 0.31 ac lot

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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 +24.0/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Schools +4.0/10.0
• Condition / age +3.8/5.0
• Livability +3.1/5.0
• Rent growth +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: 4 units. confirmed

Listing remarks

Excellent investment opportunity! This well maintained four unit. .. .3 bedroom apartments with numerous updates throughout. Improvements in 3 apartments include flooring, cabinets and heat pumps, newer appliances. Parking in the back of building. A great layout! Call today for your private showing.

Key facts

• 0.31 acre lot
• Built 1999
• Listed 5 days

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. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $880 ($11k/yr) — positive. Per door: $220/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $450k).
• Cap rate 8.6% 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.
• Zoned schools: Piqua High School (math 12% / reading 57%, grade F, #582 of 781 statewide, top 76%, 876 students, 52% FRL) — zoned schools at 52% FRL track the district average.
• Zoned-school proficiency averages 34% at this address vs 48% district-wide (-13 pts) — the specific schools serving this property underperform the Piqua City average; the district grade overstates school quality for this exact location.
• Market conditions: 139 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 5 days on market — expect competitive offers; lowballing is unlikely to land.

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: 8.64%
• Cash-on-cash: 8.38%
• DSCR: 1.37
• 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: -3.6%
• Equity multiple: 0.87×
• Total profit: $-16,808
• Equity at exit: $67,082

10-year hold

• IRR: 6.2%
• Equity multiple: 1.46×
• Total profit: $57,807
• 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: 139
• Price-to-rent: 29.7×

Monthly cashflow live

• Estimated rent: $5,049 medium
• Mortgage (P&I): −$2,359
• Tax est. 1.5%: −$562 /mo · $6,748/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,060
• Net cashflow: $880

Break-even live

Break-even rent $3,936

Max offer price $449,900

Occupancy floor 78%

Sensitivity live

Price	-10% $1,190	-5% $1,035	+0% $880	+5% $724	+10% $569
Rent	-10% $481	-5% $680	+0% $880	+5% $1,079	+10% $1,278
Rate	-1.0pp $1,106	-0.5pp $994	base $880	+0.5pp $763	+1.0pp $644

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 4 events

1. 2026-06-21
   days on market $449,900 Active 5 DOM
2. 2026-06-18
   days on market $449,900 Active 2 DOM
3. 2026-06-17
   remarks 303-char remark
4. 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.

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: −$6,748
• − Insurance: −$2,250
• − Repairs & maintenance: −$4,847
• − Management: −$4,847
• − Depreciation: −$13,088
• Taxable income: $3,607
• Est. tax owed @ 24.0%: −$866
• After-tax cash flow: $9,689/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.

Condition & rehab AI · 10 photos

Good 75/100 Cosmetic rehab

This four-unit multi-family property is in good condition with recent updates and improvements. It offers a great investment opportunity with potential for further value enhancement through cosmetic updates and smart home features.

Value-add opportunities

• Both Painting the interior walls and updating the flooring in the kitchen and bathrooms. — Fresh paint and updated flooring can enhance the home's curb appeal and interior aesthetics, attracting more potential buyers or renters.
• Both Upgrading the kitchen appliances. — Modern appliances can improve the home's functionality and appeal to a broader range of potential buyers or renters.
• Both Updating the bathroom fixtures. — Fresh, modern fixtures can enhance the home's functionality and appeal to a broader range of potential buyers or renters.
• Both Landscaping improvements. — Enhanced landscaping can improve the home's curb appeal and attract more potential buyers or renters.
• Both Adding smart home features. — Smart home features can improve the home's functionality and appeal to a broader range of potential buyers or renters.
• Both Upgrading the HVAC system. — A more efficient HVAC system can improve the home's comfort and energy efficiency, attracting more potential buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the interior walls and updating the flooring in the kitchen and bathrooms. — Fresh paint and updated flooring can enhance the home's curb appeal and interior aesthetics, attracting more potential buyers or renters. ↑
• Both Upgrading the kitchen appliances. — Modern appliances can improve the home's functionality and appeal to a broader range of potential buyers or renters. ↑
• Both Updating the bathroom fixtures. — Fresh, modern fixtures can enhance the home's functionality and appeal to a broader range of potential buyers or renters. ↑
• Both Landscaping improvements. — Enhanced landscaping can improve the home's curb appeal and attract more potential buyers or renters. ↑
• Both Adding smart home features. — Smart home features can improve the home's functionality and appeal to a broader range of potential buyers or renters. ↑
• Both Upgrading the HVAC system. — A more efficient HVAC system can improve the home's comfort and energy efficiency, attracting more potential buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-06-12 Listed $449,900 WRIST