40 Maylan Dr · Dayton, OH 45405

$129,900

12 bd · 12.0 ba · 1,300 sqft · MultiFamily · 36 Days on market

Built 1935 Poor condition 4,901 sqft lot $100/sqft · 23% above area Est $105k · 23% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.6/5.0
• Livability +3.2/5.0
• Schools +1.3/10.0
• Condition / age +1.0/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Seller intends to sell these two parcels as a package. 40 Maylan is a vacant standalone building that is zoned for an office building that can be repaired as an office and possibly turned into another unit generating additional income, 42,44, and 46 Maylan is a Triplex. Unit 42 on first floor has two 1-bedroom (has been there for over 16 years, pays $475/month plus_ $25 for garage) with a 1-year lease that ends 4/2027. Unit 44 tenant has been there for a few years, pays $554/month, on a month-to-month lease. Unit 46 upstairs is a 2-bedroom unit and pays $675/month on a month-to-month lease. All units have separate electricity. The building is heated with a boiler system (seller pays gas).

Key facts

• Boiler system
• Separate electric
• Triplex

Tags

• VACANT STANDALONE BUILDING
• ZONED OFFICE BUILDING
• TRIPLEX
• SEPARATE ELECTRIC
• BOILER SYSTEM
• CURRENT GROSS RENTS

Property features AI

Finance

• Financial info: Listed for sale; Gross income reported at $20,000

Exterior

• Parking: One-car garage
• Utilities: Natural gas; Central air
• Home design: Two-story building; Aluminum siding
• Construction: Aluminum siding construction
• Exterior features: Residential zoning; Lot approximately 0.11 acres

Interior

• Bedrooms: One-bedroom and two-bedroom units (multi-unit property)
• Bathrooms: Four full bathrooms (total for property)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 2×1bd/1.0ba + 1×2bd/1.0ba units multifamily listed at $130k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $983 ($12k/yr) — positive. Per door: $328/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.4% 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 fast (+4.3%/yr); 134 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 $2,381/mo this rent would consume 65% of the median local household income ($44k/yr) (locally 1475% 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 $898 of loan paydown is wiped out by about $4k 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 + 4.3% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.83% ✓
• Cap rate: 15.38%
• Cash-on-cash: 32.44%
• DSCR: 2.44
• GRM: 4.5

CMA / ARV

• ARV (median comp): $105,225
• List price: $129,900
• Delta: 23.45%
• Verdict: OVERPRICED
• Comps: 19 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.34% rent growth · sell at horizon

5-year hold

• IRR: 29.0%
• Equity multiple: 2.23×
• Total profit: $44,865
• Equity at exit: $19,369

10-year hold

• IRR: 37.2%
• Equity multiple: 4.67×
• Total profit: $133,572
• Equity at exit: $11,231

Cash invested: $36,372 (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 45405

• Rents YoY: 4.3%
• Active inventory: 134
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $2,381 medium
• Mortgage (P&I): −$681
• Tax est. 1.5%: −$162 /mo · $1,948/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $983

Break-even live

Break-even rent $1,136

Max offer price $129,900

Occupancy floor 54%

Sensitivity live

Price	-10% $1,073	-5% $1,028	+0% $983	+5% $938	+10% $894
Rent	-10% $795	-5% $889	+0% $983	+5% $1,077	+10% $1,171
Rate	-1.0pp $1,049	-0.5pp $1,016	base $983	+0.5pp $950	+1.0pp $915

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,534
1× unit	2	1	$848
Total (3 units)			$2,381

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $129,900 Active 36 DOM
2. 2026-06-17
   days on market $129,900 Active 35 DOM
3. 2026-06-16
   days on market $129,900 Active 34 DOM
4. 2026-06-15
   days on market $129,900 Active 33 DOM
5. 2026-06-14
   days on market $129,900 Active 31 DOM
6. 2026-06-13
   days on market $129,900 Active 30 DOM
7. 2026-06-10
   days on market $129,900 Active 28 DOM
8. 2026-06-09
   days on market $129,900 Active 27 DOM
9. 2026-06-08
   days on market $129,900 Active 26 DOM
10. 2026-06-07
    days on market $129,900 Active 25 DOM
11. 2026-06-05
    days on market $129,900 Active 22 DOM
12. 2026-06-03
    days on market $129,900 Active 21 DOM
13. 2026-06-02
    days on market $129,900 Active 20 DOM
14. 2026-06-01
    days on market $129,900 Active 19 DOM
15. 2026-05-31
    days on market $129,900 Active 18 DOM
16. 2026-05-13
    listed $129,900 Active 885-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $28,572
• − Mortgage interest: −$7,276
• − Property taxes: −$1,948
• − Insurance: −$650
• − Repairs & maintenance: −$2,286
• − Management: −$2,286
• − Depreciation: −$3,779
• Taxable income: $10,347
• Est. tax owed @ 24.0%: −$2,483
• After-tax cash flow: $9,316/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 · 4 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and maintenance to bring it up to a livable condition. Immediate focus should be on exterior repairs, HVAC system replacement, and interior updates to increase its resale and rental value.

Repairs flagged

• Major Stair treads — Severe wear and damage
• Major Exterior siding — Significant peeling and damage
• Major Roof — Visible damage and potential leaks
• Major HVAC system — Exposed and visibly rusted

Value-add opportunities

• Both Landscaping and exterior repairs — Improves curb appeal and property value
• Both HVAC system replacement — Enhances comfort and energy efficiency
• Both Interior painting and repairs — Enhances aesthetics and value
• Both Stair treads replacement — Improves safety and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Stair treads · Severe wear and damage	Major	$15,000–50,000
Exterior siding · Significant peeling and damage	Major	$15,000–50,000
Roof · Visible damage and potential leaks	Major	$15,000–50,000
HVAC system · Exposed and visibly rusted	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both Landscaping and exterior repairs — Improves curb appeal and property value ↑
• Both HVAC system replacement — Enhances comfort and energy efficiency ↑
• Both Interior painting and repairs — Enhances aesthetics and value ↑
• Both Stair treads replacement — Improves safety and property value ↑

ⓘ 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: 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): 18,955
• Household income: $43,973
• Rent vs Own: 64.0% rent · 36.0% own
• Severe rent burden: 1475.0

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 Black (68%)
• Race & ethnicity: Black 68% White 23% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Italian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 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: ▼ -125.58%
• Current HPI: 173.4962
• Rent YoY: ▲ 4.34%
• 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

• 2026-05-13 Listed $129,900 Dayton MLS