21 Pointview Ave · Dayton, OH 45405

$49,900

4 bd · 4.0 ba · 4,050 sqft · MultiFamily public records · 154 Days on market

Built 1930 5,240 sqft lot $12/sqft · 75% below area ↓ 31% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.6/5.0
• 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: 1 unit. 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 MLS

Four-unit multi-family property for investors, contractors, or developers seeking a rehab project it has great potential.

Key facts

• 5,240 sq ft lot
• Built 1930
• Listed 154 days

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $50k.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 70.1% 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 $3,860/mo this rent would consume 105% 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 $345 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 7.74% ✓
• Cap rate: 70.06%
• Cash-on-cash: 227.75%
• DSCR: 11.13
• GRM: 1.1

CMA / ARV

• ARV (median comp): $195,867
• List price: $49,900
• Delta: -74.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
339 E Bruce Ave	0.35mi	4/4.0	3,904 (-4%)	0mo	$230,000	$59	77
25 E Siebenthaler Ave	0.41mi	4/4.0	4,176 (+3%)	5mo	$222,500	$53	71
21 E Siebenthaler Ave	0.42mi	4/4.0	4,176 (+3%)	5mo	$222,500	$53	71
411 Ryburn Ave	0.43mi	4/4.0	4,032 (-0%)	11mo	$214,995	$53	70
434 W Fairview Ave	0.62mi	4/4.0	4,032 (-0%)	0mo	$220,000	$55	70
245 Valleyview Dr	0.34mi	4/4.0	3,648 (-10%)	2mo	$229,900	$63	66
644 Redwood Ave	0.59mi	4/4.0	4,092 (+1%)	9mo	$205,000	$50	64
111 E Norman Ave	0.66mi	4/4.0	4,176 (+3%)	14mo	$225,000	$54	52
421 E Bruce Ave	0.41mi	4/4.0	4,500 (+11%)	14mo	$205,000	$46	50
55 Woodcrest Ave	0.46mi	4/4.0	4,500 (+11%)	15mo	$229,400	$51	48
2118 Catalpa Dr	0.75mi	4/4.0	4,455 (+10%)	1mo	$130,000	$29	48
321 W Norman Ave	0.67mi	4/4.0	4,536 (+12%)	2mo	$240,000	$53	47

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 · 4.34% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 12.89×
• Total profit: $166,168
• Equity at exit: $7,440

10-year hold

• IRR: —
• Equity multiple: 28.54×
• Total profit: $384,777
• Equity at exit: $4,314

Cash invested: $13,972 (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 45405

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

Monthly cashflow live

• Estimated rent: $3,860 high
• Mortgage (P&I): −$262
• Tax from tax record: −$115 /mo · $1,382/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$811
• Net cashflow: $2,652

Break-even live

Break-even rent $503

Max offer price $49,900

Occupancy floor 26%

Sensitivity live

Price	-10% $2,680	-5% $2,666	+0% $2,652	+5% $2,638	+10% $2,623
Rent	-10% $2,347	-5% $2,499	+0% $2,652	+5% $2,804	+10% $2,957
Rate	-1.0pp $2,677	-0.5pp $2,664	base $2,652	+0.5pp $2,639	+1.0pp $2,626

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$3,860
Total (4 units)			$3,860

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $49,900 Active 154 DOM
2. 2026-06-17
   days on market $49,900 Active 153 DOM
3. 2026-06-16
   days on market $49,900 Active 152 DOM
4. 2026-06-15
   days on market $49,900 Active 151 DOM
5. 2026-06-14
   days on market $49,900 Active 149 DOM
6. 2026-06-13
   days on market $49,900 Active 148 DOM
7. 2026-06-10
   days on market $49,900 Active 146 DOM
8. 2026-06-09
   days on market $49,900 Active 145 DOM
9. 2026-06-08
   days on market $49,900 Active 144 DOM
10. 2026-06-07
    days on market $49,900 Active 143 DOM
11. 2026-06-05
    days on market $49,900 Active 140 DOM
12. 2026-06-03
    days on market $49,900 Active 139 DOM
13. 2026-06-02
    days on market $49,900 Active 138 DOM
14. 2026-06-01
    days on market $49,900 Active 137 DOM
15. 2026-05-31
    days on market $49,900 Active 136 DOM
16. 2026-04-15
    price $49,900 121-char remark

    Show marketing remark (121 chars)

    Four-unit multi-family property for investors, contractors, or developers seeking a rehab project it has great potential.

17. 2026-02-17
    price $54,900 121-char remark

    Show marketing remark (121 chars)

    Four-unit multi-family property for investors, contractors, or developers seeking a rehab project it has great potential.

18. 2026-01-15
    listed $59,900 Active 121-char remark

    Show marketing remark (121 chars)

    Four-unit multi-family property for investors, contractors, or developers seeking a rehab project it has great potential.

19. 2006-04-07
    soldstatus $101,000
20. 2005-05-17
    soldstatus $18,000
21. 2005-02-18
    soldstatus $24,000
22. 2005-02-18
    soldstatus $24,000
23. 1999-04-02
    soldstatus $78,500
24. 1992-03-19
    soldstatus $72,500

ⓘ 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: $1,382 · $115/mo
• Projected year-2 tax: $1,382 · $115/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 ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,320
• − Mortgage interest: −$2,795
• − Property taxes: −$1,382
• − Insurance: −$250
• − Repairs & maintenance: −$3,706
• − Management: −$3,706
• − Depreciation: −$1,452
• Taxable income: $33,030
• Est. tax owed @ 24.0%: −$7,927
• After-tax cash flow: $23,893/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): 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

-31.2% since first listed

9 events — show timeline

• 2026-04-15 Price Changed $49,900 Dayton MLS
• 2026-02-17 Price Changed $54,900 Dayton MLS
• 2026-01-15 Listed $59,900 Dayton MLS
• 2006-04-07 Sold (Public Records) $101,000 Public Records
• 2005-05-17 Sold (Public Records) $18,000 Public Records
• 2005-02-18 Sold (Public Records) $24,000 Public Records
• 2005-02-18 Sold (Public Records) $24,000 Public Records
• 1999-04-02 Sold (Public Records) $78,500 Public Records
• 1992-03-19 Sold (Public Records) $72,500 Public Records

Property tax history

-5.9%/yr

Latest (2025): $1,382 · -66.2% YoY. Source: county tax records.