Dayton is one of the markets where investors build portfolios one $160,000 house at a time. Ten years later, they have a stack of small loans, each with its own payment, escrow and maturity. A blanket loan is how many of them clean that up.
In short: LendingStreet's blanket portfolio loans combine five or more Dayton-area rentals, each with 1 to 8 units, into one loan with one closing and one monthly payment. The loan qualifies on the combined cash flow of the portfolio, with no tax returns required, and release provisions let you sell an individual house later. Because the $150,000 minimum applies to the loan rather than each house, lower-priced Dayton rentals that would not support their own DSCR loan can still be financed as part of the portfolio.
Kettering is the core of many Dayton portfolios: postwar ranches and Cape Cods on regular lots, near Kettering Health's main campus and the employers along the I-675 corridor. Huber Heights, with its large stock of brick ranches and split-levels, rents well to base and manufacturing workers. Riverside and Fairborn, on either side of Wright-Patterson, draw military families and contractors.
Inside the city, investors buy side-by-side doubles and up-down duplexes in Belmont, Walnut Hills and Old North Dayton for higher rent per dollar, and renovated homes in South Park and St. Anne's Hill for stronger tenants. Oakwood and Centerville add value and stability but rarely cash flow on their own.
The loan compares total rent across every property with the total payment: principal and interest on the blanket plus every tax bill, insurance policy and any HOA dues. A Belmont double that carries a high tax bill relative to its rent can be offset by a Kettering ranch with lower taxes and steady rent.
Each property is valued. The loan amount is limited by combined value and combined cash flow, and max LTV varies by program, often lower on larger balances.
This example is illustrative and not a quote. An investor owns seven rentals worth $1,255,000 combined, renting for $10,845 a month. At 75% of combined value, the blanket loan is $941,250.
Estimated principal and interest is about $6,421 a month on a 30-year term. Taxes across the seven properties are about $1,775 a month and insurance about $735, for a total payment near $8,931 and a portfolio DSCR of about 1.21x.
As a stress test, if the Belmont double and the Riverside ranch sat empty in the same month, rent would fall to $7,720 and the ratio for that month to about 0.86x. Keeping reserves for turnover is part of running a portfolio this size.
| Property | Value | Rent | Monthly taxes |
|---|---|---|---|
| Kettering ranch | $198,000 | $1,550 | $270 |
| Kettering Cape Cod | $182,000 | $1,475 | $250 |
| Belmont side-by-side double | $168,000 | $1,700 | $240 |
| Huber Heights split-level | $215,000 | $1,695 | $310 |
| Riverside ranch near the base | $172,000 | $1,425 | $245 |
| Walnut Hills up-down duplex | $155,000 | $1,600 | $225 |
| Fairborn ranch | $165,000 | $1,400 | $235 |
| Total | $1,255,000 | $10,845 | $1,775 |
Release provisions spell out how a single property comes out of the blanket. You pay a set release amount, often more than that property's share of the loan, and the lien is released. The rest of the loan continues, usually with the requirement that the remaining portfolio still meets the program's ratio and leverage limits.
In Dayton, investors often prune weaker city houses over time and keep the suburban core. Ask for the release schedule up front so you can plan those sales.
Ohio counties reappraise every six years with an update at the three-year mark, and recent Montgomery County values rose significantly. When several properties are reassessed at once, a portfolio's ratio can shift. Use current auditor figures without owner-occupancy credits.
Ohio requires residential rental owners to register with the county auditor. Have registrations current for every property, and note that some cities in the region have their own rental inspection or registration rules.
Not necessarily. A blanket works best for properties you plan to hold. Houses you may sell in the next year or two can stay on separate loans to avoid release paydowns. Properties with heavy deferred maintenance can drag down the portfolio's value and ratio; it can make sense to renovate them first, then add them later or finance them separately.
Dayton investors often own rentals in Springfield, Middletown or Cincinnati as well. Some programs allow properties in multiple markets and even multiple states in one blanket. Ask how your program treats properties outside the Dayton area before you assemble the list.
A wider footprint can help the portfolio ratio when the out-of-area homes carry lower taxes or stronger rent, but it also means more appraisals, more title work and more insurance policies to gather. Build that time into your plan, especially if the refinance is meant to pay off a maturing loan by a fixed date.
Older Dayton housing stock means a wide spread of roof ages, electrical systems and foundations across one portfolio. Insurers price each property, and a carrier that will not write an older frame double can complicate a blanket closing. Collect current declarations pages for every address early, and ask whether one policy can cover the whole portfolio.
Wind matters here too. The 2019 Memorial Day tornadoes damaged thousands of homes across Trotwood, Old North Dayton, Harrison Township and Beavercreek, and carriers still look closely at roof condition and wind deductibles. Updated roofs on the weaker houses can improve both the premium and the appraised value of the portfolio.
Send a rent roll with addresses, unit counts, rents, lease dates, tax bills, insurance and current loan balances. Use the form below or call (877) 298-1001. We will run the combined ratio and show you which properties help and which hold it back.
Five or more investment properties, each with 1 to 8 units. Single-family homes, doubles and small buildings can be combined.
Yes. The $150,000 minimum is for the loan as a whole, so houses that are too small for their own DSCR loan can be included.
You pay a release amount set in the loan documents and that house comes off the blanket. The remaining loan continues, subject to program limits.
Yes. Cash-out goes up to 75% LTV on DSCR programs, often lower on larger balances, and seasoning varies by program.
No. The loan qualifies on the portfolio cash flow. The minimum credit score is 620, and LLC borrowers are standard.
Often, yes. Some programs allow properties in several markets or states in one blanket. Ask about your specific list.
Mostly through insurance and condition. Repaired or replaced roofs usually help. Have declarations pages and any repair records ready for each property.
No. It suits long-term holds and one-payment simplicity. Houses you plan to sell soon may be better left on separate loans.
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