1628 Merrill Ave · Akron, OH 44306

$99,900

4 bd · 2.0 ba · 1,440 sqft · MultiFamily · 85 Days on market

Built 1964 Fair condition 4,678 sqft lot $69/sqft · 40% below area Est $167k · 40% 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 +2.2/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Attention Investors! Side by side Duplex in Akron. Both units feature large kitchens, living room, two good sized bedrooms & full bathroom. Both units offer front and back entrances as well as separate full basements. Units have seen some recent updates. All utilities are metered separately. Each unit recently rented at $750 a month. Close to local shopping and restaurants. Make your appointment today and take advantage of a solid investment property.

Key facts

• Large kitchens
• Recent updates
• Duplex

Tags

• DUPLEX
• LARGE KITCHENS
• FRONT AND BACK ENTRANCES
• SEPARATE FULL BASEMENTS
• RECENT UPDATES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $100k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $702 ($8k/yr) — positive. Per door: $351/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.7% 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; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $1,762/mo this rent would consume 51% 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 $691 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 $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $30k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.76% ✓
• Cap rate: 14.72%
• Cash-on-cash: 30.10%
• DSCR: 2.34
• GRM: 4.7

CMA / ARV

• ARV (median comp): $166,718
• List price: $99,900
• Delta: -40.08%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1628 Merrill Ave	0.00mi	4/2.0	1,440 (0%)	1mo	$96,330	$67	99
597 Baldwin Rd	0.30mi	4/2.0	1,440 (0%)	22mo	$189,900	$132	68
622 Stephens Rd	0.45mi	4/2.0	1,456 (+1%)	22mo	$170,000	$117	59
590 & 592 Herbert Rd	0.71mi	4/2.0	1,508 (+5%)	2mo	$185,000	$123	57
600-602 Hillman Rd	0.49mi	4/4.0	1,572 (+9%)	8mo	$220,000	$140	47

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: 29.9%
• Equity multiple: 2.33×
• Total profit: $37,115
• Equity at exit: $14,895

10-year hold

• IRR: 39.7%
• Equity multiple: 5.60×
• Total profit: $128,764
• Equity at exit: $8,638

Cash invested: $27,972 (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: 9.5×

Monthly cashflow live

• Estimated rent: $1,762 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $702

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,762
Total (2 units)			$1,762

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1125 Georgia Ave Akron, OH	3.0	1.0	1060	$1,300	$1.23	14d	1	1.03mi
1078 Lindsay Ave Akron, OH	3.0	2.0	1005	$1,350	$1.34	43d	1	1.16mi
571 Chittenden St Akron, OH	3.0	1.0	982	$1,200	$1.22	43d	1	1.25mi
497 Lucy St Akron, OH	4.0	1.0	1600	$1,500	$0.94	43d	1	1.34mi
1182 5th Ave Akron, OH	3.0	1.0	1248	$1,250	$1.00	14d	1	1.45mi
488 Alexander St Akron, OH	4.0	2.0	1311	$1,350	$1.03	23d	1	1.46mi

Listing history 10 events

1. 2026-05-07
   status Pending 462-char remark

   Show marketing remark (462 chars)

   Attention Investors! Side by side Duplex in Akron. Both units feature large kitchens, living room, two good sized bedrooms & full bathroom. Both units offer front and back entrances as well as separate full basements. Units have seen some recent updates. All utilities are metered separately. Each unit recently rented at $750 a month. Close to local shopping and restaurants. Make your appointment today and take advantage of a solid investment property.

2. 2026-04-19
   price $99,900 462-char remark

   Show marketing remark (462 chars)

   Attention Investors! Side by side Duplex in Akron. Both units feature large kitchens, living room, two good sized bedrooms & full bathroom. Both units offer front and back entrances as well as separate full basements. Units have seen some recent updates. All utilities are metered separately. Each unit recently rented at $750 a month. Close to local shopping and restaurants. Make your appointment today and take advantage of a solid investment property.

3. 2026-03-24
   price $114,900 462-char remark

   Show marketing remark (462 chars)

   Attention Investors! Side by side Duplex in Akron. Both units feature large kitchens, living room, two good sized bedrooms & full bathroom. Both units offer front and back entrances as well as separate full basements. Units have seen some recent updates. All utilities are metered separately. Each unit recently rented at $750 a month. Close to local shopping and restaurants. Make your appointment today and take advantage of a solid investment property.

4. 2026-02-10
   listed $129,900 Active 462-char remark

   Show marketing remark (462 chars)

   Attention Investors! Side by side Duplex in Akron. Both units feature large kitchens, living room, two good sized bedrooms & full bathroom. Both units offer front and back entrances as well as separate full basements. Units have seen some recent updates. All utilities are metered separately. Each unit recently rented at $750 a month. Close to local shopping and restaurants. Make your appointment today and take advantage of a solid investment property.

5. 2020-08-07
   status Pending
6. 2020-08-05
   historical
7. 2020-07-28
   status Active
8. 2020-06-29
   historical Contingent
9. 2020-05-08
   price $80,000
10. 2020-02-21
    listed $99,000 Active

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

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 ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,144
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,692
• − Management: −$1,692
• − Depreciation: −$2,906
• Taxable income: $7,261
• Est. tax owed @ 24.0%: −$1,743
• After-tax cash flow: $6,677/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.

Condition & rehab AI · 1 photo

Fair 45/100 Moderate rehab

This multi-family property requires significant exterior and structural repairs, but has potential for substantial value increase with proper renovations.

Repairs flagged

• Major siding — Significant wear and tear
• Major roof — Ice dams and icicles
• Major exterior walls — Weathered and worn

Value-add opportunities

• Both repair and paint exterior — Enhances curb appeal and value
• Both repair and replace roof — Critical to the home's structural integrity and value
• Both repair and paint interior walls — Improves the home's aesthetic and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant wear and tear	Major	$15,000–50,000
roof · Ice dams and icicles	Major	$15,000–50,000
exterior walls · Weathered and worn	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both repair and paint exterior — Enhances curb appeal and value ↑
• Both repair and replace roof — Critical to the home's structural integrity and value ↑
• Both repair and paint interior walls — Improves the home's aesthetic and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+0.9% since first listed

10 events — show timeline

• 2026-05-07 Pending — MLSNOW
• 2026-04-19 Price Changed $99,900 MLSNOW
• 2026-03-24 Price Changed $114,900 MLSNOW
• 2026-02-10 Listed $129,900 MLSNOW
• 2020-08-07 Pending — MLSNOW
• 2020-08-05 Listing Removed — MLSNOW
• 2020-07-28 Relisted — MLSNOW
• 2020-06-29 Contingent — MLSNOW
• 2020-05-08 Price Changed $80,000 MLSNOW
• 2020-02-21 Listed $99,000 MLSNOW