The video shows the two vehicles revving their engines before flooring it.
The Dodge Viper lost control, swerved in front of the vehicle it was racing and went off the east side of the roadway, hitting a pole and another vehicle, according to a traffic crash report.
Debris from the crash also hit a third car. The two parked cars that were damaged were in a lot in front of a business.
Since 2018, seven people have been charged with drag racing in Dayton Municipal Court, including the driver of the Dodge Viper.
Police officials say drag racing was suspected in other crashes but it can be a hard offense to prove and some motorists are charged with reckless operation instead.
Racing can cause property damage and serious injuries, and insurance companies often will not pay claims if the drivers were acting reckless and were racing, police officials say.