14-20 Mello Ave · Dayton, OH 45410

$575,000

14 bd · 7.0 ba · — sqft · MultiFamily · 34 Days on market

Built 1972 Good condition 4,500 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 +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• 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: 7 units. confirmed

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

* * * Recent Refurbished unit (December 2025) * * * Turnkey 7-Unit Multifamily | Steps from University of Dayton | Fully Leased Income Stream 14–20 Mello Avenue Dayton, OH 45410 Acquire a fully leased seven-unit multifamily property in one of Dayton’s most sought-after rental corridors. Just steps from the University of Dayton (UD), this turnkey building pairs immediate cash flow with brand-new capital improvements, including a new roof installed Summer 2025 creating years of low-maintenance ownership. Property Highlights • Five 2BR/1BA apartments • Two 1BR/1BA apartments • Dedicated off-street parking for seven vehicles plus ample street parking • Well-maintained common areas and mechanicals. Location Advantages • Prime Access: Walk to UD’s academic core, athletics, and student services • Parking Advantage: Private rear lot, rarely available near campus • High Demand: UD proximity drives exceptional occupancy and rent resilience. Investor Takeaway Opportunities of this caliber near the University of Dayton are scarce and tightly held. Whether you’re expanding a portfolio or entering Dayton’s multifamily market, this property offers a rare chance to own a high-demand asset in a proven, supply-constrained location.

Key facts

• Turnkey multifamily
• New roof
• 4,500 sq ft lot

Tags

• RECENT REFURBISHED UNIT
• TURNKEY MULTIFAMILY
• FULLY LEASED INCOME STREAM
• NEW ROOF
• DEDICATED OFF-STREET PARKING
• WELL-MAINTAINED COMMON AREAS

What this means for you Summary

Snapshot

• This is a 7 × 2.0-bed/1.0-bath units multifamily listed at $575k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $300/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $575k).
• Recommended offer: $558k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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 (+11.4%/yr); 92 active listings in the ZIP; 907 units permitted in Montgomery County in 2024 (416 in 5+ unit buildings).
• At $7,692/mo this rent would consume 198% of the median local household income ($47k/yr) (locally 961% 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 $4k of loan paydown is wiped out by about $17k 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 + 8.0% rent growth), your $161k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($558k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 $242k; list at $575k implies a 138% gain — meaningful room to come down on a strong offer.

Recommended offer $557,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.34% ✓
• Cap rate: 10.68%
• Cash-on-cash: 15.67%
• DSCR: 1.70
• GRM: 6.2

CMA / ARV

• ARV (median comp): $201,761
• List price: $575,000
• Delta: 184.99%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 12.0%
• Equity multiple: 1.51×
• Total profit: $81,532
• Equity at exit: $85,734

10-year hold

• IRR: 24.7%
• Equity multiple: 3.66×
• Total profit: $428,954
• Equity at exit: $49,715

Cash invested: $161,000 (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 45410

• Home prices YoY: -21.4%
• Rents YoY: 11.4%
• Active inventory: 92
• Price-to-rent: 43.6×

Monthly cashflow live

• Estimated rent: $7,692 high
• Mortgage (P&I): −$3,015
• Tax est. 1.5%: −$719 /mo · $8,625/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,615
• Net cashflow: $2,103

Break-even live

Break-even rent $5,030

Max offer price $575,000

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 7× units	2.0	1	$7,693
Total (7 units)			$7,692

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: $143,750
• Closing costs: $17,250
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $575,000 Active 34 DOM
2. 2026-06-17
   days on market $575,000 Active 33 DOM
3. 2026-06-16
   days on market $575,000 Active 32 DOM
4. 2026-06-15
   days on market $575,000 Active 31 DOM
5. 2026-06-14
   days on market $575,000 Active 29 DOM
6. 2026-06-13
   days on market $575,000 Active 28 DOM
7. 2026-06-10
   pricedays on market $575,000 Active 26 DOM
8. 2026-06-09
   days on market $600,000 Active 25 DOM
9. 2026-06-08
   days on market $600,000 Active 24 DOM
10. 2026-06-07
    days on market $600,000 Active 23 DOM
11. 2026-06-05
    days on market $600,000 Active 20 DOM
12. 2026-06-03
    days on market $600,000 Active 19 DOM
13. 2026-06-02
    days on market $600,000 Active 18 DOM
14. 2026-06-01
    days on market $600,000 Active 17 DOM
15. 2026-05-31
    days on market $600,000 Active 16 DOM
16. 2026-05-15
    listed $600,000 Active 1320-char remark

    Show marketing remark (1320 chars)

    * * * Recent Refurbished unit (December 2025) * * * Turnkey 7-Unit Multifamily | Steps from University of Dayton | Fully Leased Income Stream 14–20 Mello Avenue Dayton, OH 45410 Acquire a fully leased seven-unit multifamily property in one of Dayton’s most sought-after rental corridors. Just steps from the University of Dayton (UD), this turnkey building pairs immediate cash flow with brand-new capital improvements, including a new roof installed Summer 2025 creating years of low-maintenance ownership. Property Highlights • Five 2BR/1BA apartments • Two 1BR/1BA apartments • Dedicated off-street parking for seven vehicles plus ample street parking • Well-maintained common areas and mechanicals. Location Advantages • Prime Access: Walk to UD’s academic core, athletics, and student services • Parking Advantage: Private rear lot, rarely available near campus • High Demand: UD proximity drives exceptional occupancy and rent resilience. Investor Takeaway Opportunities of this caliber near the University of Dayton are scarce and tightly held. Whether you’re expanding a portfolio or entering Dayton’s multifamily market, this property offers a rare chance to own a high-demand asset in a proven, supply-constrained location.

17. 2026-02-03
    historical
18. 2026-01-03
    price $614,999
19. 2026-01-03
    status Active
20. 2025-11-12
    historical ActiveUnderContract
21. 2025-10-20
    price $597,999
22. 2025-09-30
    listed $598,999 Active
23. 2019-09-09
    soldstatus $242,000 Closed
24. 2019-09-09
    soldstatus $242,000 Sold
25. 2019-07-25
    historical Active/Pending
26. 2019-07-06
    status Pending
27. 2019-06-18
    price $249,900
28. 2019-06-18
    listed $265,000 Active

ⓘ 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 ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $92,304
• − Mortgage interest: −$32,209
• − Property taxes: −$8,625
• − Insurance: −$2,875
• − Repairs & maintenance: −$7,384
• − Management: −$7,384
• − Depreciation: −$16,727
• Taxable income: $17,099
• Est. tax owed @ 24.0%: −$4,104
• After-tax cash flow: $21,132/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 · 12 photos

Good 75/100 Cosmetic rehab

A well-maintained, recently refurbished 7-unit multifamily property with a new roof, located near the University of Dayton.

Value-add opportunities

• Both Paint the exterior — Enhances curb appeal and property value
• Both Replace carpet in bedrooms — Improves comfort and appearance
• Both Install new flooring in living areas — Enhances aesthetics and durability

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior — Enhances curb appeal and property value ↑
• Both Replace carpet in bedrooms — Improves comfort and appearance ↑
• Both Install new flooring in living areas — Enhances aesthetics and durability ↑

ⓘ 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): 14,694
• Household income: $46,651
• Rent vs Own: 50.7% rent · 49.3% own
• Severe rent burden: 961.0

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 (71%)
• Race & ethnicity: White 71% Black 15% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 2% Iranian 2% Slovak 2%
• Foreign-born: 5% · Canada, United Kingdom
• Languages at home: 91% English-only · Spanish 6% Tagalog/Filipino 1% 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: ▼ -100.61%
• Current HPI: 369.3938
• Rent YoY: ▲ 11.37%
• 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

+126.4% since first listed

13 events — show timeline

• 2026-05-15 Listed $600,000 Dayton MLS
• 2026-02-03 Listing Removed — Dayton MLS
• 2026-01-03 Price Changed $614,999 Dayton MLS
• 2026-01-03 Relisted — Dayton MLS
• 2025-11-12 Contingent — Dayton MLS
• 2025-10-20 Price Changed $597,999 Dayton MLS
• 2025-09-30 Listed $598,999 Dayton MLS
• 2019-09-09 Sold (MLS) $242,000 Dayton MLS
• 2019-09-09 Sold (MLS) $242,000 Dayton MLS
• 2019-07-25 Contingent — Dayton MLS
• 2019-07-06 Pending — Dayton MLS
• 2019-06-18 Price Changed $249,900 Dayton MLS
• 2019-06-18 Listed $265,000 Dayton MLS