All Forum Posts by: Hemrajsinh Waghela

For those who are investing in Ohio specifically Dayton or a neighboring city/county, what have you guys seen as the average appreciation for this area. I've been looking at multiple sources and want to see if anyone has any experience in that area to come to a more accurate average. 

Thanks in Advance

Hi guys, 

Im looking at a few properties in Dayton and are just unsure of the area and would like some insight from anyone who is from there or also invests there... I live in Ohio but am about 1.5 hours North of the city. 

The specific area I am looking at is west of the river (Ive been told is bad), one of the streets off of riverside Dr. Would you guys with knowledge of the area say this place is getting better (I noticed some houses being rehabbed) or should I stay away all together? 

Any insight would be great! TIA

With its proximity to Columbus, do investors see Dayton as a great spot to get into renting out multifamily homes?

which city has received the biggest investment ? what zip code ?

Looking at a 4-plex in Dayton, Ohio for $350,000. All units are 2/2s with balconies and larger-than-market av sqft. Average rent in the area is $950 (BP rent estimator). Currently fully leased with long term tenants, totaling $3500/mo gross. Property is in good condition in a low B to high C neighborhood and needs no repairs (but could use cosmetic at the end of lease in order to push rent.) I'm factoring property management (10%), maintenance (10%), vacancy (5%) and capEx (5%) into operating costs ($1050) to give me a NOI of $2450. PITI is looking around $2500 with a 6% 30yr conventional. Am I being too conservative in numbers or anything i'm missing for analyzing a 4-plex? Not conservative enough? I'm hesitant but would love to hear insight from others on how to refine my analysis.

I wanted to ask investors how they know if a property they are looking to buy is in a good neighborhood. Are there any websites that you use? What strategies do you use to make sure it’s a good location? 

I’m trying to figure out the areas for Springfield, Dayton, and Columbus Ohio. Thanks.

Hey @Hemrajsinh Waghela, @Jacklyn Robins and @Michael Craven I've just started investing in Dayton and am looking to buy more properties there, but am unsure about certain parts. Does anybody own in this area?  If so, how has it been managing that? Is there a lot of turnover? Are the properties well treated by tenants?

Thanks

Very exciting to see a big investment into Dayton, OH. 

https://www.daytondailynews.co...

Will be nice to have another large employer along with Wright-Patterson Air Force Base, Health Care, and Universities. 

Already noticing an increase in home prices in the area compared to the rest of Dayton, as well as other businesses investments (restaurants, shopping, etc.). 

Hi everyone,

I purchased a 4 unit multifamily property in Dayton Ohio in June 2021. After a challenging start, the property has been performing reasonably well.

The property tax each half of the year for 2021-2022 was slightly over $2000. This was rolled into an escrow account such that I paid my mortgage lender part of this each month and they issued a check twice during the year to cover the 2 payments. The last payment was sent June 2022 prior to the July deadline and at that time the lender confirmed that was the correct amount. I called the treasurer's office this week to ensure they received the second check. They told me that the school board filed a complaint and my 2021-2022 property taxes were increased to $3,500 each half of 2021 effective 1 day before my final payment was due. This includes the 6 months period in 2021 prior to me closing on the property.

This retroactive increase in property taxes seems unethical and underhanded at best. If anyone has any similar experiences and advice on how to handle it or referrals to real estate attorneys or others who can assist, I would appreciate it. Thanks!