1138 7th Ave · Akron, OH 44306

$89,900

5 bd · 2.0 ba · 1,440 sqft · MultiFamily public records · 59 Days on market

Built 1918 4,356 sqft lot $62/sqft · 25% below area Est $121k · 25% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.4/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Don’t miss this one. Great investment opportunity right here in Akron. This 5 bed, 2 bath home offers a lot of space with large rooms and even more potential. Whether you’re an investor looking for your next project or a first-time buyer ready to add your own finishing touches, this is one you don’t want to miss. Conveniently located near major highways, shopping, and everyday amenities. Schedule your showing today before it’s gone.

Key facts

• Large rooms
• Conveniently located
• 4,356 sq ft lot

Tags

• LARGE ROOMS
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 27.6% vs local median 6.6% in Akron — 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 81/100 on livability (#104 in OH, #1,591 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Akron City (urban): math 22% / reading 30% proficiency, ranked #602 of 656 in OH (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+7.6%/yr); 69 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• At $2,872/mo this rent would consume 83% of the median local household income ($42k/yr) (locally 1251% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Summit County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 7.6% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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 1918 — 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.19% ✓
• Cap rate: 27.59%
• Cash-on-cash: 76.05%
• DSCR: 4.38
• GRM: 2.6

CMA / ARV

• ARV (median comp): $120,609
• List price: $89,900
• Delta: -25.46%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1143 Santee Ave	0.37mi	4/2.0 (-1)	1,431 (-1%)	14mo	$125,000	$87	65
970 Concord Ave	0.54mi	4/2.0 (-1)	1,440 (0%)	17mo	$161,000	$112	56
1196-1198 Welton Ave	0.68mi	4/2.0 (-1)	1,440 (0%)	21mo	$139,900	$97	46

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 · 7.63% rent growth · sell at horizon

5-year hold

• IRR: 81.3%
• Equity multiple: 5.02×
• Total profit: $101,116
• Equity at exit: $13,404

10-year hold

• IRR: 85.9%
• Equity multiple: 12.22×
• Total profit: $282,429
• Equity at exit: $7,773

Cash invested: $25,172 (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 44306

• Rents YoY: 7.6%
• Active inventory: 69
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,872 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$165 /mo · $1,976/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$603
• Net cashflow: $1,595

Break-even live

Break-even rent $853

Max offer price $89,900

Occupancy floor 39%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	5	2	$2,872
Total (2 units)			$2,872

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
497 Lucy St Akron, OH	4.0	1.0	1600	$1,500	$0.94	44d	1	0.11mi
488 Alexander St Akron, OH	4.0	2.0	1311	$1,350	$1.03	23d	1	0.17mi
516 Whitney Ave Akron, OH	4.0	2.0	1676	$1,500	$0.89	44d	1	0.31mi
1071 Ackley St Akron, OH	4.0	2.0	1164	$1,175	$1.01	44d	1	0.70mi
82 Detroit St Akron, OH	6.0	2.0	1624	$1,500	$0.92	23d	1	0.70mi
1070 Super Genius Cir Akron, OH	2.0–4.0	1.0–2.0	1145	$1,429	$1.25	14d	1	1.05mi
1040 Neptune Ave Akron, OH	4.0	1.0	1400	$1,300	$0.93	44d	1	1.05mi
1297 Pondview Ave Akron, OH	4.0	1.0	1373	$1,450	$1.06	23d	1	1.07mi
1085 Herberich Ave Akron, OH	4.0	1.0	1350	$1,400	$1.04	44d	1	1.09mi
77 Kent Ct Akron, OH	4.0	1.0	1300	$1,200	$0.92	44d	1	1.10mi
885 Brown St Akron, OH	4.0	2.0	1280	$1,400	$1.09	23d	1	1.13mi
1114 Herberich Ave Akron, OH	4.0	1.0	1308	$1,200	$0.92	44d	1	1.14mi
796 Brown St Akron, OH	4.0	2.0	1200	$900	$0.75	44d	1	1.18mi
1012 Brown St Akron, OH	4.0	2.0	1518	$1,295	$0.85	44d	1	1.18mi
288 Kryder Ave Akron, OH	4.0	1.0	1400	$1,450	$1.04	44d	1	1.20mi
548 Spicer St Akron, OH	4.0	2.0	1487	$1,100	$0.74	23d	1	1.27mi
490 Gage St Akron, OH	4.0	1.0	1326	$1,053	$0.79	44d	1	1.28mi
1028 Kling St Akron, OH	4.0	2.0	1500	$1,450	$0.97	44d	1	1.29mi
466 Adkins Ave Akron, OH	4.0	1.5	1800	$1,450	$0.81	44d	1	1.31mi
846 Lee Dr Akron, OH	4.0	1.0	1433	$1,325	$0.92	14d	1	1.32mi
846 Lee Dr Akron, OH	4.0	1.5	1433	$1,325	$0.92	23d	1	1.32mi
768 Beardsley St Akron, OH	5.0	1.5	1714	$1,500	$0.88	14d	1	1.34mi
1438 Newton St Akron, OH	4.0	1.0	1429	$1,375	$0.96	23d	1	1.40mi
356 Rankin St Akron, OH	4.0	1.5	1186	$1,197	$1.01	23d	1	1.43mi

Listing history 11 events

1. 2026-06-08
   days on market $89,900 Active 59 DOM
2. 2026-06-07
   days on market $89,900 Active 58 DOM
3. 2026-06-05
   days on market $89,900 Active 55 DOM
4. 2026-06-03
   days on market $89,900 Active 54 DOM
5. 2026-06-02
   days on market $89,900 Active 53 DOM
6. 2026-06-01
   days on market $89,900 Active 52 DOM
7. 2026-05-31
   days on market $89,900 Active 51 DOM
8. 2026-05-31
   days on market $89,900 Active 50 DOM
9. 2026-04-10
   listed $89,900 Active 460-char remark

   Show marketing remark (460 chars)

   Don’t miss this one. Great investment opportunity right here in Akron. This 5 bed, 2 bath home offers a lot of space with large rooms and even more potential. Whether you’re an investor looking for your next project or a first-time buyer ready to add your own finishing touches, this is one you don’t want to miss. Conveniently located near major highways, shopping, and everyday amenities. Schedule your showing today before it’s gone.

10. 2026-03-30
    historical
11. 2026-01-09
    listed $90,000 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: $1,976 · $165/mo
• Projected year-2 tax: $1,976 · $165/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% 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: $34,464
• − Mortgage interest: −$5,036
• − Property taxes: −$1,976
• − Insurance: −$450
• − Repairs & maintenance: −$2,757
• − Management: −$2,757
• − Depreciation: −$2,615
• Taxable income: $18,873
• Est. tax owed @ 24.0%: −$4,529
• After-tax cash flow: $14,614/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: Akron City
• NCES district ID: 3904348
• Math proficiency: 22% ▼ -17.00%
• Reading proficiency: 30% ▼ -12.00%
• Median HH income: $33,811
• Composite: 21.31/100
• National rank: #8383
• State rank: #602 of 656 in OH

Livability — Akron

• Score: 81/100
• State rank: #104
• US rank: #1591

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Akron, OH
• County: Summit County · 440,783 people
• City population: 174,375
• Metro: Akron, OH
• Population (ZIP): 20,905
• Household income: $41,688
• Rent vs Own: 56.4% rent · 43.6% own
• Severe rent burden: 1251.0

Population outlook (Summit County) Hauer SSP2

• Today (2025): 546,583 people
• By 2030: 544,028 · -0.5%
• By 2040: 531,363 · -2.8%
• By 2050: 514,923 · -5.8%
• By 2075: 481,765 · -11.9%
• By 2100: 432,265 · -20.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 48% Black 38% Two or more races 8% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 2% Iranian 1% Scotch-Irish 1%
• Foreign-born: 4% · Vietnam, Canada, Philippines
• Languages at home: 94% English-only · Spanish 2% Other Asian/Pacific 1% Vietnamese 1%

Political lean MEDSL · Summit

• 2024 margin: Lean D (+7.0) · D 53.0% · R 46.0%
• 2008→2024 swing: -9.6pp toward R · 2008: 16.6pp · 2024: 7.0pp
• All cycles: 2024: D+7.0 2020: D+9.6 2016: D+8.2 2012: D+14.8 2008: D+16.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -101.46%
• Current HPI: 132.768
• Rent YoY: ▲ 7.63%
• 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

-0.1% since first listed

3 events — show timeline

• 2026-04-10 Listed $89,900 MLSNOW
• 2026-03-30 Listing Removed — MLSNOW
• 2026-01-09 Listed $90,000 MLSNOW

Property tax history

+8.4%/yr

Latest (2025): $1,976 · +101.2% YoY. Source: county tax records.