2445 Olentangy Dr

Akron, OH 44333

$279,000D

4 bd · 2.5 ba · 1,650 sqft · Built 1963 · SingleFamily · Pending · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,835/mo
• Mortgage (P&I): −$1,463
• Tax + insurance: −$452
• HOA: −$0
• Vac / Maint / Mgmt: −$385
• Net cashflow: $-466/mo
• Annual: $-5,587/yr
• Cap rate: 4.29%
• Cash-on-cash: -7.15%
• DSCR: 0.68
• 1% rule: 0.66%
• Cash to close: $78,120

Investor read

• This is a 4-bed/2.5-bath single-family listed at $279k.
• At list price, monthly cash flow is $-466 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (29.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $184k (34.2% below list).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $184k (34.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• 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.
• Revere Local (rural): math 83% / reading 86% proficiency, ranked #17 of 656 in OH (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 5% free/reduced lunch — higher-income household profile.
• Market conditions: 112 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• Summit County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Cap rate 4.3% vs local median 6.6% in Akron — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.
• 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.