1537 Wooster Rd W · Norton, OH 44203

$139,900

5 bd · 2.0 ba · 2,243 sqft · MultiFamily public records · 71 Days on market

Built 1894 0.25 ac lot $62/sqft · 34% below area Est $212k · 34% under ↓ 11% since listing

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Why this score? — see what drove the A- 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
• Schools +5.9/10.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• 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 great two-family duplex located right inside the Norton City School District!! Whether you're looking for strong rental income or a place to live alongside extended family, this property offers flexibility and value. Enjoy a nice yard, detached two car garage, three bedrooms on lower main level, two bedrooms upstairs and a peaceful wooded view out back!

Key facts

• Two family duplex
• Peaceful wooded view
• Strong rental income

Tags

• TWO FAMILY DUPLEX
• STRONG RENTAL INCOME
• DETACHED TWO CAR GARAGE
• PEACEFUL WOODED VIEW

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.1% vs local median 3.2% in Norton — 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 80/100 on livability (#118 in OH, #1,738 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Norton City (suburban): math 68% / reading 69% proficiency, ranked #152 of 656 in OH (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+5.9%/yr); 219 active listings in the ZIP; 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• At $2,504/mo this rent would consume 47% of the median local household income ($64k/yr) (locally 805% 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 $967 of loan paydown is wiped out by about $4k 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 + 5.9% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1894 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1894 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 1.79% ✓
• Cap rate: 15.09%
• Cash-on-cash: 31.43%
• DSCR: 2.40
• GRM: 4.7

CMA / ARV

• ARV (median comp): $212,371
• List price: $139,900
• Delta: -34.12%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.86% rent growth · sell at horizon

5-year hold

• IRR: 29.5%
• Equity multiple: 2.28×
• Total profit: $50,112
• Equity at exit: $20,860

10-year hold

• IRR: 38.4%
• Equity multiple: 5.09×
• Total profit: $160,143
• Equity at exit: $12,096

Cash invested: $39,172 (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 44203

• Rents YoY: 5.9%
• Active inventory: 219
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,504 high
• Mortgage (P&I): −$734
• Tax from tax record: −$160 /mo · $1,924/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $1,026

Break-even live

Break-even rent $1,205

Max offer price $139,900

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,504
Total (2 units)			$2,504

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $139,900 Active 71 DOM
2. 2026-06-17
   days on market $139,900 Active 70 DOM
3. 2026-06-16
   days on market $139,900 Active 69 DOM
4. 2026-06-15
   days on market $139,900 Active 68 DOM
5. 2026-06-14
   days on market $139,900 Active 66 DOM
6. 2026-06-10
   days on market $139,900 Active 63 DOM
7. 2026-06-09
   days on market $139,900 Active 62 DOM
8. 2026-06-08
   days on market $139,900 Active 61 DOM
9. 2026-06-07
   days on market $139,900 Active 60 DOM
10. 2026-06-03
    days on market $139,900 Active 56 DOM
11. 2026-06-02
    days on market $139,900 Active 55 DOM
12. 2026-06-01
    days on market $139,900 Active 54 DOM
13. 2026-06-01
    price $139,900 Active 53 DOM
14. 2026-05-31
    days on market $159,900 Active 53 DOM
15. 2026-05-31
    days on market $159,900 Active 52 DOM
16. 2026-04-07
    listed $159,900 Active 371-char remark

    Show marketing remark (371 chars)

    Don't miss this great two-family duplex located right inside the Norton City School District!! Whether you're looking for strong rental income or a place to live alongside extended family, this property offers flexibility and value. Enjoy a nice yard, detached two car garage, three bedrooms on lower main level, two bedrooms upstairs and a peaceful wooded view out back!

17. 2026-03-16
    historical
18. 2026-02-13
    listed $175,000 Active
19. 2026-02-05
    historical
20. 2026-02-05
    historical
21. 2025-12-26
    listed $179,900 Active
22. 2025-12-26
    listed $179,900 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: $1,924 · $160/mo
• Projected year-2 tax: $2,053 · $171/mo
• Expected delta: +$129/yr (+$11/mo · 6.7%)

ⓘ 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,048
• − Mortgage interest: −$7,837
• − Property taxes: −$1,924
• − Insurance: −$700
• − Repairs & maintenance: −$2,404
• − Management: −$2,404
• − Depreciation: −$4,070
• Taxable income: $10,711
• Est. tax owed @ 24.0%: −$2,571
• After-tax cash flow: $9,740/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: Norton City
• NCES district ID: 3904455
• Math proficiency: 68% ▼ -7.00%
• Reading proficiency: 69% ▼ -5.00%
• Median HH income: $61,163
• Composite: 59.19/100
• National rank: #946
• State rank: #152 of 656 in OH

Livability — Norton

• Score: 80/100
• State rank: #118
• US rank: #1738

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norton, OH
• County: Summit County · 440,783 people
• City population: 38,705
• Metro: Akron, OH
• Population (ZIP): 38,701
• Household income: $63,759
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 805.0

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: Predominantly White (86%)
• Race & ethnicity: White 86% Black 7% Two or more races 5% Hispanic / Latino 1%
• Common ancestry: Romanian 3% Slovak 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Russian/Polish/Slavic 1% Spanish 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: ▼ -224.82%
• Current HPI: 199.8143
• Rent YoY: ▲ 5.86%
• 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

-11.1% since first listed

7 events — show timeline

• 2026-04-07 Listed $159,900 MLSNOW
• 2026-03-16 Listing Removed — MLSNOW
• 2026-02-13 Listed $175,000 MLSNOW
• 2026-02-05 Listing Removed — MLSNOW
• 2026-02-05 Listing Removed — MLSNOW
• 2025-12-26 Listed $179,900 MLSNOW
• 2025-12-26 Listed $179,900 MLSNOW

Property tax history

+2.0%/yr

Latest (2025): $1,924 · +0.1% YoY. Source: county tax records.