Investing in Dayton

18 Replies

Does anyone have any experience in Dayton, OH? All I know about Dayton is UD and Patterson AFB.  I recently found a few properties but I am unfamiliar with the city. Any info would be much appreciated. 

Hi Daniel,

Depends entirely upon what it is you're looking for. Rentals? Fix/flips? I'd be glad to help, but I need a bit more info to go on first. : )

@Account Closed  I'm actively investing in the Dayton area. Like any city areas vary widely. Knowing a little more about the properties you are considering, and what your investing goals are would help.

I'm trying to get into multi-family. How strong is the rental market there? Any areas to avoid? Alot of the properties I'm seeing are either on the North or West side.  Is this a desirable area.  From the listings, I dont know what neighborhoods they are in but can just tell from the map their relative location.

Also, what are major employers in the area?  Is there a solid employment base?

Google employers for details. There's a good variety here in the area.

North or West is far to generic, just like it would be in your area. It also depends on what you define as a "good" area. Every area has the potential to be profitable. The drama level may vary considerably though.

Daniel, why focus on Dayton if you live in a great market already (Lakewood and Cleveland)?

Prices are rising here and it is difficult to find a good multi-family building. I'm looking for something with at least 10 units. Plus, taxes in cuyahoga county are on the rise as well.

@Johnny Aloha  

@Account Closed  

I would have to agree with Johnny. I would recommend investing far away from home only if your market does not produce favorable rental returns. 

Living in the greater Cleveland area your already looking at low low prices.

Any money saved on minor price differences will most likely be eaten up by other cost related to you being so far away.

@James Wise - Agreed but low prices doesnt mean its a good investment. While Cleveland proper - east side or west is cheap. I would never throw my money there because of the crime and little capital being invested.  

The outer suburbs are a different story but that will definitely come with a premium. From what I've seen, 10 units or more go for at least $25/unit on the cheap end. My father owns a multi-family in Lakewood and he paid $40k/unit which I think is much. Especially, when you add in all the expenses.

Does anyone know of Little Richmond or Wright View?

I know both Little Richmond and Wright View.
Little Richmond is mostly empty land with a few houses.

Wright View is a mix of rentals and owner occupied.

@Darrin Carey  and @Christina Carey  

I am considering buying some SFH in the Dayton area. I'm looking at the basic 3/2 property that can rent for around $850 at least. What I like best about Dayton is the low price points. What areas/zip codes are best to invest in? Thanks

@Winston Spence  For a 3/2 renting at 850+ I'd start looking in Kettering and Huber Heights first. I'd also consider Fairborn and Riverside. There are more areas, but you'd have to break it down to the neighborhood level.

Zip codes are mostly misleading in Dayton, They cross a wide variety of neighborhoods. 

@Winston Spence

I would concur with Darrin. Definitely do not classify a property solely by Zip code. I would also consider adding Xenia to the areas he listed above.

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Oldish thread but I just wanted to ask. Do the extremely high property taxes in Kettering and Huber Heights offset the higher income they bring in? I mean wouldn't you get the same cash flow in areas where the rent is a little lower but property taxes are normal?

I just worry that people from outside the area might see those high rents and not realize they are influenced by the high property taxes.

Originally posted by @Tim Chasteen :

Oldish thread but I just wanted to ask. Do the extremely high property taxes in Kettering and Huber Heights offset the higher income they bring in? I mean wouldn't you get the same cash flow in areas where the rent is a little lower but property taxes are normal?

I just worry that people from outside the area might see those high rents and not realize they are influenced by the high property taxes.

@Tim Chastenn: I've found many tenants from outside the area are accustomed to paying more in rent than is customary in Kettering, Huber Heights, or the Dayton area in general. Wright Patterson Air Force Base attracts people to Huber Heights and there is a new windshield plant opening near Kettering that will be bringing 800 jobs to the area in 2015. 

@Scot Rife Thanks that's good insight on the windshield plant!

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