Dayton OH NP Note - Worth Buying?

[Bob E.]

We are looking at a NP note in Dayton OH for a house. we can't give the specific address due to NDA issues but it is in the 1100 block of Charleston Blvd. (Zip 45402).

Purchase cost of the note is $650 and there are $1,400 in back taxes plus costs to FC or do get a DIL.

We understand this is not an A neighborhood but can any local investors advise if they consider this an investable neighborhood? We have rent estimate of $640 for this house and are trying to figure if we would be able to rent it, how long it wold take, and if $640 is realistic? If this could be rented then, given the low acquisition cost it could be a good buy.

If anyone know that area and could chime in we would greatly appreciate it.

Bob