1432 Melrose Ave · Kettering, OH 45409

$154,975

2 bd · 1.0 ba · 762 sqft · SingleFamily public records · 17 Days on market

Built 1940 5,279 sqft lot Est $124k · 25% over

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Why this score? — see what drove the F 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 +10.6/30.0
• Schools +5.2/10.0
• Rent growth +5.0/5.0
• Livability +4.2/5.0
• 1% rule +3.3/10.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Has newer roof and hot water heater put in 2010.Central air is 8 years old. Property is being sold as is, where is.

Key facts

• Home warranty
• New flooring
• Full basement

Tags

• UPDATED KITCHEN
• UPDATED BATHROOM
• NEW FLOORING
• FULL BASEMENT
• DETACHED ONE-CAR GARAGE
• HOME WARRANTY

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Attached one-car garage
• Utilities: Natural gas; Central air
• Home design: Single-story home; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Residential lot (approx. 40 x 132 / 0.121 acres)

Interior

• Kitchen: Main-level kitchen (approximately 8 x 11)
• Bedrooms: Two main-level bedrooms (approximately 11 x 11 and 11 x 12)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Full, unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $-77 ($-921/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (8.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (16.7% below list).
• Recommended offer: $129k (16.7% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 4.4% in Kettering — 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 83/100 on livability (#61 in OH, #922 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, cost of living A+; Watch: commute F.
• Kettering City School District (suburban): math 54% / reading 68% proficiency, ranked #277 of 656 in OH (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+10.8%/yr); 53 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• This rent is only 18% of the median local income ($87k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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 $72k; list at $155k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,095 (16.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.83% ✗
• Cap rate: 5.70%
• Cash-on-cash: -2.12%
• DSCR: 0.91
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $124,206
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1309 Central Park Ave	0.13mi	2/1.0	712 (-7%)	12mo	$178,000	$250	73
1031 W Dorothy Ln	0.29mi	2/1.0	800 (+5%)	8mo	$27,000	$34	71
1416 Melrose Ave	0.02mi	1/1.0 (-1)	868 (+14%)	1mo	$105,000	$121	70
1324 Elmdale Dr	0.16mi	2/1.0	864 (+13%)	9mo	$141,000	$163	63
1611 Sacramento Ave	0.74mi	2/1.0	720 (-6%)	12mo	$140,000	$194	46

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -14.2%
• Equity multiple: 0.47×
• Total profit: $-23,142
• Equity at exit: $23,107

10-year hold

• IRR: 1.3%
• Equity multiple: 1.11×
• Total profit: $4,751
• Equity at exit: $13,399

Cash invested: $43,393 (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 45409

• Rents YoY: 10.8%
• Active inventory: 53
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,291 high
• Mortgage (P&I): −$813
• Tax from tax record: −$219 /mo · $2,632/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $-77

Break-even live

Break-even rent $1,388

Max offer price $141,422

Occupancy floor —

Sensitivity live

Price	-10% $11	-5% $-33	+0% $-77	+5% $-121	+10% $-164
Rent	-10% $-179	-5% $-128	+0% $-77	+5% $-26	+10% $25
Rate	-1.0pp $1	-0.5pp $-37	base $-77	+0.5pp $-117	+1.0pp $-158

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: $38,744
• Closing costs: $4,649
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1333 Central Park Ave Dayton, OH	2.0	1.0	846	$1,350	$1.60	15d	1	0.10mi
1580 Glenbeck Ave Unit 4 Kettering, OH	1.0	1.0	640	$850	$1.33	45d	1	0.36mi
1588 Glenbeck Ave Unit C Kettering, OH	1.0	1.0	960	$825	$0.86	3d	1	0.36mi
2366 S Patterson Blvd Unit 5 Kettering, OH	2.0	1.0	975	$975	$1.00	24d	1	0.66mi
2366 S Patterson Blvd Unit 11 Kettering, OH	2.0	1.0	900	$950	$1.06	24d	1	0.66mi
2358 S Patterson Blvd Unit 6 Kettering, OH	2.0	1.0	900	$1,000	$1.11	24d	1	0.69mi
3657 Elmira Dr Dayton, OH	2.0	1.0	936	$1,450	$1.55	45d	1	1.00mi
3781 Keswick Ln Dayton, OH	3.0	1.0	1040	$1,750	$1.68	3d	1	1.06mi
1643 Archdeacon Ct Dayton, OH	2.0	1.0	1040	$1,450	$1.39	22d	1	1.12mi
3928 Elmira Dr Dayton, OH	3.0	1.0	1041	$1,550	$1.49	3d	1	1.32mi
3924 Fulton Ave Moraine, OH	3.0	1.0	813	$1,800	$2.21	3d	1	1.37mi
3929 Fulton Ave Moraine, OH	2.0	1.0	788	$750	$0.95	20d	1	1.38mi

Listing history 13 events

1. 2026-06-21
   days on market $154,975 Active 17 DOM
2. 2026-06-18
   days on market $154,975 Active 14 DOM
3. 2026-06-17
   pricedays on market $154,975 Active 13 DOM
4. 2026-06-16
   days on market $159,975 Active 12 DOM
5. 2026-06-15
   days on market $159,975 Active 11 DOM
6. 2026-06-14
   days on market $159,975 Active 9 DOM
7. 2026-06-13
   days on market $159,975 Active 8 DOM
8. 2026-06-10
   days on market $159,975 Active 6 DOM
9. 2026-06-09
   days on market $159,975 Active 5 DOM
10. 2026-06-08
    days on market $159,975 Active 4 DOM
11. 2026-06-07
    days on market $159,975 Active 3 DOM
12. 2026-06-05
    remarks 699-char remark
13. 2026-06-05
    listed $159,975 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: $2,632 · $219/mo
• Projected year-2 tax: $2,632 · $219/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 4/10 Moderate 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,491
• − Mortgage interest: −$8,681
• − Property taxes: −$2,632
• − Insurance: −$775
• − Repairs & maintenance: −$1,239
• − Management: −$1,239
• − Depreciation: −$4,508
• Taxable loss: −$3,583
• Est. tax savings @ 24.0%: +$860
• After-tax cash flow: $-61/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: Kettering City School District
• NCES district ID: 3904418
• Math proficiency: 54% ▼ -21.00%
• Reading proficiency: 68% ▼ -9.00%
• Median HH income: $50,353
• Composite: 51.89/100
• National rank: #1653
• State rank: #277 of 656 in OH

Livability — Kettering

• Score: 83/100
• State rank: #61
• US rank: #922

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kettering, OH
• County: Montgomery County · 459,541 people
• City population: 73,116
• Metro: Dayton-Kettering, OH
• Population (ZIP): 15,293
• Household income: $87,283
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 185.0

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% Hispanic / Latino 6% Two or more races 5% Black 5% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 4% Italian 4% Slovak 2%
• Foreign-born: 4% · China, Canada, Vietnam
• Languages at home: 92% English-only · Spanish 4% Chinese 1% 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: ▼ -199.63%
• Current HPI: 225.554
• Rent YoY: ▲ 10.84%
• 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

+131.8% since first listed

18 events — show timeline

• 2026-06-04 Listed $159,975 Dayton MLS
• 2024-09-15 Rental Removed $1,200 APPFOLIO
• 2024-09-11 Listing Removed — Dayton MLS
• 2024-09-09 Price Changed $152,550 Dayton MLS
• 2024-09-06 Listed for Rent $1,200 APPFOLIO
• 2024-09-04 Price Changed $152,050 Dayton MLS
• 2024-08-31 Price Changed $152,000 Dayton MLS
• 2024-08-21 Price Changed $151,975 Dayton MLS
• 2024-08-16 Price Changed $150,975 Dayton MLS
• 2024-08-15 Price Changed $149,975 Dayton MLS
• 2024-08-14 Price Changed $153,975 Dayton MLS
• 2024-08-12 Price Changed $154,975 Dayton MLS
• 2024-08-08 Listed $159,975 Dayton MLS
• 2022-02-28 Price Changed $950 RENT.
• 2021-03-18 Sold (MLS) $72,000 Dayton MLS
• 2021-03-18 Sold (MLS) $72,000 Dayton MLS
• 2021-02-25 Pending — Dayton MLS
• 2021-02-23 Listed $69,000 Dayton MLS

Property tax history

+2.1%/yr

Latest (2025): $2,632 · -0.2% YoY. Source: county tax records.