181 Portage Lakes Dr · Portage Lakes, OH 44319

$154,000

3 bd · 1.0 ba · 1,574 sqft · SingleFamily public records · 14 Days on market

Built 1925 0.29 ac lot $98/sqft · 43% below area Est $269k · 43% under

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Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Portage Lakes View Investment Opportunity | 6 Parcels | Partially Rehabbed! Wake up to stunning lake views in this unique investment property situated on 6 parcels in a prime location. Whether you're looking to finish the flip, add a rental to your portfolio, or create a sought-after Airbnb retreat, this property offers incredible potential with a significant head start already done for you. The heavy lifting is complete — all major mechanicals are newer, including the furnace, air conditioning, plumbing, and electrical systems, as well as newer windows throughout. Drywall work has already been started on the main level, so you're ready to hit the ground running. The first floor featu

Key facts

• Utility room
• Investment property
• Newer windows

Tags

• INVESTMENT PROPERTY
• 6 PARCELS
• NEWER WINDOWS
• ENCLOSED PORCH
• LIVING ROOM WITH FIREPLACE
• UTILITY ROOM

Property features AI

Exterior

• Parking: Driveway (unpaved)
• Utilities: Public sewer; Well water
• Home design: Two-story home; Fixer condition; View from property
• Construction: Vinyl siding; Asphalt and fiberglass roof; Built (year per public records)
• Exterior features: Patio; Shed(s)

Interior

• Kitchen: Kitchen area included off the living room
• Bedrooms: One main-level bedroom; Additional bedrooms on second level (two bedrooms)
• Bathrooms: Three full bathrooms; One main-level bathroom
• Heating & cooling: Central air conditioning; Forced-air gas heating
• Interior features: Loft; Living room with fireplace and included kitchen area; Has basement; Has view
• Laundry & utility: Laundry on upper level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $154k.

Deal economics

• At list price, monthly cash flow is $5k ($55k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $154k).
• Cap rate 42.3% vs local median 13.7% in Portage Lakes — 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 64/100 on livability (#772 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D+, schools D-, amenities F.
• Coventry Local (suburban): math 52% / reading 64% proficiency, ranked #315 of 656 in OH (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 90 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); 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• At $7,307/mo this rent would consume 117% of the median local household income ($75k/yr) — 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 $1k of loan paydown is wiped out by about $5k 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 + 3.0% rent growth), your $43k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 10y ago 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.
• Current owner paid $60k; list at $154k implies a 156% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $154,000

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
5. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
6. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
7. 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.
8. 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.
9. 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: 4.74% ✓
• Cap rate: 42.32%
• Cash-on-cash: 128.65%
• DSCR: 6.72
• GRM: 1.8

CMA / ARV

• ARV (median comp): $269,153
• List price: $154,000
• Delta: -42.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
156 W Ingleside Dr	0.29mi	4/3.0 (+1)	1,534 (-2%)	2mo	$240,000	$156	67
2976 S Main St	0.44mi	3/1.5	1,639 (+4%)	8mo	$265,000	$162	64
541 Canova Dr	0.49mi	3/2.0	1,615 (+3%)	12mo	$245,000	$152	58
325 Hohman Ave	0.36mi	3/2.0	1,450 (-8%)	12mo	$244,000	$168	56
472 Saunders Ave	0.55mi	3/2.0	1,512 (-4%)	10mo	$425,000	$281	56
224 W Ingleside Dr	0.34mi	3/1.5	1,338 (-15%)	9mo	$200,000	$149	50
3078 Greenhill Rd	0.55mi	3/2.0	1,450 (-8%)	9mo	$295,000	$203	50
829 Portage Lakes Dr	0.70mi	3/1.0	1,368 (-13%)	1mo	$365,000	$267	45
3648 Portage Point Blvd	0.71mi	4/2.0 (+1)	1,543 (-2%)	14mo	$572,000	$371	43
2813 N Bender Ave	0.75mi	3/3.0	1,445 (-8%)	2mo	$320,000	$221	42
2679 N Bender Ave	0.68mi	3/1.5	1,352 (-14%)	1mo	$195,000	$144	42
2743 N Bender Ave	0.73mi	3/2.0	1,725 (+10%)	9mo	$220,000	$128	38

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: —
• Equity multiple: 7.25×
• Total profit: $269,647
• Equity at exit: $22,962

10-year hold

• IRR: —
• Equity multiple: 15.25×
• Total profit: $614,601
• Equity at exit: $13,315

Cash invested: $43,120 (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 44319

• Active inventory: 90
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $7,307 medium
• Mortgage (P&I): −$808
• Tax from tax record: −$278 /mo · $3,332/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,534
• Net cashflow: $4,623

Break-even live

Break-even rent $1,455

Max offer price $154,000

Occupancy floor 32%

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: $38,500
• Closing costs: $4,620
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3581 Mong Ave Unit 1496037P Akron, OH	4.0	2.0	2142	$11,111	$5.19	44d	1	0.66mi
829 Portage Lakes Dr Unit 1496076P Akron, OH	3.0	1.0	1356	$7,700	$5.68	14d	1	0.71mi
234 Mallard Point Dr Akron, OH	1.0–2.0	1.0–2.0	945	$1,530	$1.62	14d	18	0.73mi

Listing history 21 events

1. 2026-06-18
   days on market $154,000 Active 14 DOM
2. 2026-06-17
   days on market $154,000 Active 13 DOM
3. 2026-06-16
   days on market $154,000 Active 12 DOM
4. 2026-06-15
   days on market $154,000 Active 11 DOM
5. 2026-06-14
   days on market $154,000 Active 9 DOM
6. 2026-06-13
   days on market $154,000 Active 8 DOM
7. 2026-06-10
   statusdays on market $154,000 Active 6 DOM
8. 2026-05-15
   listed $154,000 Active 1625-char remark
9. 2018-06-16
   historical
10. 2017-09-27
    listed $89,900 Active
11. 2017-05-30
    historical
12. 2017-05-19
    listed $109,000 Active
13. 2017-02-01
    soldstatus $60,170
14. 2016-11-23
    historical
15. 2016-11-10
    price $74,900
16. 2016-10-04
    price $84,900
17. 2016-10-04
    status Active
18. 2016-09-20
    historical Contingent
19. 2016-09-02
    price $87,900
20. 2016-07-11
    price $89,900
21. 2016-05-23
    listed $95,000 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: $3,332 · $278/mo
• Projected year-2 tax: $3,332 · $278/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 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: $87,682
• − Mortgage interest: −$8,626
• − Property taxes: −$3,332
• − Insurance: −$770
• − Repairs & maintenance: −$7,015
• − Management: −$7,015
• − Depreciation: −$4,480
• Taxable income: $56,444
• Est. tax owed @ 24.0%: −$13,547
• After-tax cash flow: $41,929/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: Coventry Local
• NCES district ID: 3904999
• Math proficiency: 52% ▼ -13.00%
• Reading proficiency: 64% ▼ -2.00%
• Median HH income: $52,981
• Composite: 49.66/100
• National rank: #1976
• State rank: #315 of 656 in OH

Livability — Portage Lakes

• Score: 64/100
• State rank: #772
• US rank: #14032

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portage Lakes, OH
• County: Summit · 539,389 people
• Metro: Akron, OH
• Population (ZIP): 21,469
• Household income: $74,781
• Rent vs Own: 25.6% rent · 74.4% own
• Severe rent burden: 12.4

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Black 2% Hispanic / Latino 2% Asian 2%
• Common ancestry: Romanian 5% Slovak 2% Serbian 1%
• Foreign-born: 2% · China, Vietnam
• Languages at home: 97% English-only · Other Indo-European 1% Spanish 1% Chinese 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: ▼ -236.58%
• Current HPI: 213.2267
• Rent YoY: —
• Metro: —
• 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

+62.1% since first listed

16 events — show timeline

• 2026-06-09 Relisted — MLSNOW
• 2026-05-20 Pending — MLSNOW
• 2026-05-15 Listed $154,000 MLSNOW
• 2018-06-16 Listing Removed — MLSNOW
• 2017-09-27 Listed $89,900 MLSNOW
• 2017-05-30 Listing Removed — MLSNOW
• 2017-05-19 Listed $109,000 MLSNOW
• 2017-02-01 Sold (Public Records) $60,170 Public Records
• 2016-11-23 Listing Removed — MLSNOW
• 2016-11-10 Price Changed $74,900 MLSNOW
• 2016-10-04 Price Changed $84,900 MLSNOW
• 2016-10-04 Relisted — MLSNOW
• 2016-09-20 Contingent — MLSNOW
• 2016-09-02 Price Changed $87,900 MLSNOW
• 2016-07-11 Price Changed $89,900 MLSNOW
• 2016-05-23 Listed $95,000 MLSNOW

Property tax history

+11.0%/yr

Latest (2025): $3,332 · +25.3% YoY. Source: county tax records.