Dayton Investment Property (Belmont, Patterson: real estate, rent , work)

[wally99]

There's one auction site that lists some very cheap Dayton properties.
For example, this property is listed for a minimum bid of $13,590.
The address: 24 NORTH KILMER STREET – DAYTON, OHIO 45402
The auction ad says: this property is currently assessed at $49,910.00 in its current condition!

The above property needs some work, but the pictures look good. Lets assume it needs $10,000 of work, would the above be a good deal?

Here's another one: 48-50 SAMUEL STREET – DAYTON, OHIO 45403
It's a duplex, minimum bid of $21,590. Says it last sold July 10th, 2003 for $74,995.00.

Again, I'm sure it needs some work, even if it needs $20,000 of work, still seems cheap compared to last sale price.

Anyone here investing in Dayton residential property? Would you recommend the area for investments?

[OH_girl_stuck_in_GA]

My husband and I are looking at investment properties in the Dayton area as well. I would suggest calling a real estate agent, they have the most info on these types of properties. I will say that the agent we contacted said to stay away from anything under $25K, it will need atleast twice that amount in renevations. One house we were interested in had everything (Plumbing, electrical, furnaces, you name it) stolen while it has been on the market.

[wally99]

I agree, a real estate agent would be a good way to go. I am not necessarily looking at investing in Dayton, just keep seeing these very inexpensive properties, and am curious. I was hoping someone from Dayton would voice an opinion.

One thing I look for in investment property is both cash flow and appreciation. I'm not sure that Dayton would offer that. Though if the cash flow is high enough, then maybe I would forego appreciation.

[mwild6987]

I am from the Dayton area and starting a "Handyman service"for rehabing homes little info for you. New construction homes 160,000-250,000 property valu is low compared to other areas the Dayton area is a little scarry you would have to no the area that you are in ,Belmont and Patterson park is a decent area few blocks in old North Dayton is not bad farther away from Chappel and Keowee st.the better.West Dayton and East Dayton if your not willing to land contract rent to own forget it.Subburbs is were you need to look, 100,000 homes is not hard to find in nice condition and in good naborhoods
hope this helps...

[penelopelp]

I have friends who own in Dayton. They moved and are having to rent out their houses because nobody will buy in the neighborhoods that are falling apart.