447 S Diamond St · Ravenna, OH 44266

$39,900

2 bd · 1.0 ba · 862 sqft · SingleFamily public records · 35 Days on market

Built 1920 8,533 sqft lot $46/sqft · 72% below area

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investors special!! Two or three bedroom colonial located on a very large corner lot! This fixer upper has the drywall removed and is cleaned out! There is a lot of unique and cool things to see inside from yesteryear! The rear yard is partially fenced with flowering shrubs, grape vines and a gorgeous magnolia tree! Two car block garage with attached shed with concrete floor that is also cleaned out and ready for storage. Enclosed front porch, brick walkways and city utilities! Ready for your vision and design, or simply for some storage. Owner's say they are open to a creative real estate trade!

Key facts

• Grape vines
• Two car block garage
• Large corner lot

Tags

• LARGE CORNER LOT
• PARTIALLY FENCED YARD
• FLOWERING SHRUBS
• GRAPE VINES
• GORGEOUS MAGNOLIA TREE
• TWO CAR BLOCK GARAGE

Property features AI

Exterior

• Parking: Driveway; Attached or detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Two-story wood-sided house; Asphalt/fiberglass roof; Built per public records
• Construction: Wood siding construction; Asphalt/fiberglass roof
• Exterior features: Enclosed porch; Patio; Front porch

Interior

• Bathrooms: One full bathroom (main level)
• Interior features: Partial, unfinished basement; 6 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $551 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $39k (3.0% below list) — sets the bar for market timing.
• Cap rate 22.9% vs local median 3.0% in Ravenna — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#323 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities F, commute F, employment F.
• Ravenna City (suburban): math 31% / reading 41% proficiency, ranked #559 of 656 in OH (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 159 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 196 units permitted in Portage County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $40k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $38,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.57% ✓
• Cap rate: 22.85%
• Cash-on-cash: 59.14%
• DSCR: 3.63
• GRM: 3.2

CMA / ARV

• ARV (median comp): $140,292
• List price: $39,900
• Delta: -71.56%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
664 Crown Ave	0.07mi	3/1.0 (+1)	880 (+2%)	2mo	$135,000	$153	87
426 Jefferson St	0.11mi	2/1.5	877 (+2%)	5mo	$144,400	$165	86
615 W Spruce Ave	0.24mi	2/1.0	960 (+11%)	1mo	$105,000	$109	69
141 Gill St	0.42mi	2/2.0	864 (+0%)	14mo	$89,000	$103	64
631 Hill St	0.45mi	2/1.0	877 (+2%)	19mo	$85,000	$97	60
142 Oakwood St	0.45mi	3/1.0 (+1)	936 (+9%)	14mo	$140,000	$150	48
114 Hillcrest St	0.53mi	3/1.0 (+1)	792 (-8%)	11mo	$130,000	$164	48
247 Hazen Ave	0.48mi	3/1.0 (+1)	938 (+9%)	16mo	$110,000	$117	44
153 N Scranton St	0.69mi	3/1.0 (+1)	836 (-3%)	17mo	$109,900	$131	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 57.8%
• Equity multiple: 3.56×
• Total profit: $28,608
• Equity at exit: $5,949

10-year hold

• IRR: 62.6%
• Equity multiple: 7.27×
• Total profit: $70,091
• Equity at exit: $3,450

Cash invested: $11,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

ZIP-level market 44266

• Active inventory: 159
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,027 medium
• Mortgage (P&I): −$209
• Tax from tax record: −$35 /mo · $420/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $551

Break-even live

Break-even rent $330

Max offer price $39,900

Occupancy floor 41%

Sensitivity live

Price	-10% $573	-5% $562	+0% $551	+5% $539	+10% $528
Rent	-10% $469	-5% $510	+0% $551	+5% $591	+10% $632
Rate	-1.0pp $571	-0.5pp $561	base $551	+0.5pp $540	+1.0pp $530

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
608 W Highland Ave Ravenna, OH	2.0	1.0	870	$1,025	$1.18	14d	1	0.50mi
529 E Main St Unit C-15 Ravenna, OH	1.0	1.0	600	$1,100	$1.83	21d	1	0.99mi
529 E Main St Unit B-18 Ravenna, OH	2.0	1.0	850	$1,000	$1.18	14d	1	0.99mi

Listing history 4 events

1. 2026-04-23
   listed $49,900 Active 545-char remark
2. 2025-12-29
   soldstatus $20,000 Closed
3. 2025-12-05
   status Pending
4. 2025-12-03
   listed $25,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $420 · $35/mo
• Projected year-2 tax: $521 · $43/mo
• Expected delta: +$101/yr (+$8/mo · 24.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,326
• − Mortgage interest: −$2,235
• − Property taxes: −$420
• − Insurance: −$200
• − Repairs & maintenance: −$986
• − Management: −$986
• − Depreciation: −$1,161
• Taxable income: $6,338
• Est. tax owed @ 24.0%: −$1,521
• After-tax cash flow: $5,086/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Ravenna City
• NCES district ID: 3904468
• Math proficiency: 31% ▼ -22.00%
• Reading proficiency: 41% ▼ -13.00%
• Median HH income: $40,018
• Composite: 30.19/100
• National rank: #6314
• State rank: #559 of 656 in OH

Livability — Ravenna

• Score: 73/100
• State rank: #323
• US rank: #5309

Category grades

Amenities F Commute F Cost of living A+ Crime B+ Employment F Housing A- Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ravenna, OH
• County: Portage County · 70,400 people
• City population: 32,612
• Metro: Akron, OH
• Population (ZIP): 32,612
• Household income: $64,918
• Rent vs Own: 31.3% rent · 68.7% own
• Severe rent burden: 1468.0

Population outlook (Portage County) Hauer SSP2

• Today (2025): 166,109 people
• By 2030: 167,752 · +1.0%
• By 2040: 168,640 · +1.5%
• By 2050: 167,469 · +0.8%
• By 2075: 170,131 · +2.4%
• By 2100: 167,958 · +1.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 6% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Italian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Portage

• 2024 margin: R (+15.5) · D 41.8% · R 57.3%
• 2008→2024 swing: -24.5pp toward R · 2008: 9.0pp · 2024: -15.5pp
• All cycles: 2024: R+15.5 2020: R+12.5 2016: R+10.2 2012: D+4.9 2008: D+9.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -146.76%
• Current HPI: 196.8027
• Rent YoY: —
• Metro: Akron, OH
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Price history

+59.6% since first listed

6 events — show timeline

• 2026-05-29 Listing Removed — MLSNOW
• 2026-05-22 Price Changed $39,900 MLSNOW
• 2026-04-23 Listed $49,900 MLSNOW
• 2025-12-29 Sold (MLS) $20,000 MLSNOW
• 2025-12-05 Pending — MLSNOW
• 2025-12-03 Listed $25,000 MLSNOW

Property tax history

-0.3%/yr

Latest (2025): $420 · +17.3% YoY. Source: county tax records.