249 W Harris Ave · Ravenna, OH 44266

$70,000

1 bd · 1.0 ba · 629 sqft · SingleFamily public records · 84 Days on market

Built 1940 1,350 sqft lot $111/sqft · 20% below area Est $88k · 20% 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
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fully remodeled in 2020 single-family home currently operating as a rental! Updates completed in 2020 include a new kitchen, updated bathroom, all new flooring, light fixtures, and water lines. Electrical panel was updated just prior to current ownership. Tenant-occupied with strong rental history—currently paying $835/month with lease in place through mid-August 2026. Turnkey investment opportunity with immediate cash flow! Owner is a licensed Realtor.

Key facts

• 1,350 sq ft lot
• Built 1940
• Listed 84 days

🏷️ Possibly a rental listed for sale. The $70,000 price doesn't fit this home's estimated sale value (~$87,996) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($918 rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 3.0% in Ravenna — 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 73/100 on livability (#323 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities F, commute F, employment F.
• Ravenna City (suburban): math 31% / reading 41% proficiency, ranked #559 of 656 in OH (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 159 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 196 units permitted in Portage County in 2024 (10 in 5+ unit buildings).
• This rent is only 17% of the median local income ($65k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $10k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $5k; list at $70k implies a 1300% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 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 1940 — 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. 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 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: 1.31% ✓
• Cap rate: 11.08%
• Cash-on-cash: 17.09%
• DSCR: 1.76
• GRM: 6.4

CMA / ARV

• ARV (median comp): $87,996
• List price: $70,000
• Delta: -20.45%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 8.4%
• Equity multiple: 1.33×
• Total profit: $6,426
• Equity at exit: $10,437

10-year hold

• IRR: 17.6%
• Equity multiple: 2.45×
• Total profit: $28,450
• Equity at exit: $6,052

Cash invested: $19,600 (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 44266

• Active inventory: 159
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $918 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$50 /mo · $603/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $279

Break-even live

Break-even rent $565

Max offer price $70,000

Occupancy floor 65%

Sensitivity live

Price	-10% $319	-5% $299	+0% $279	+5% $259	+10% $240
Rent	-10% $207	-5% $243	+0% $279	+5% $315	+10% $352
Rate	-1.0pp $314	-0.5pp $297	base $279	+0.5pp $261	+1.0pp $243

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
529 E Main St Unit C-15 Ravenna, OH	1.0	1.0	600	$1,100	$1.83	21d	1	0.74mi
709 Sapp Rd Ravenna, OH	1.0–2.0	1.0	712	$815	$1.14	14d	1	1.37mi

Listing history 22 events

1. 2026-06-18
   days on market $70,000 Active 84 DOM
2. 2026-06-17
   days on market $70,000 Active 83 DOM
3. 2026-06-16
   days on market $70,000 Active 82 DOM
4. 2026-06-15
   days on market $70,000 Active 81 DOM
5. 2026-06-14
   days on market $70,000 Active 79 DOM
6. 2026-06-10
   days on market $70,000 Active 76 DOM
7. 2026-06-09
   days on market $70,000 Active 75 DOM
8. 2026-06-08
   days on market $70,000 Active 74 DOM
9. 2026-06-07
   days on market $70,000 Active 73 DOM
10. 2026-06-05
    days on market $70,000 Active 70 DOM
11. 2026-06-03
    days on market $70,000 Active 69 DOM
12. 2026-06-02
    days on market $70,000 Active 68 DOM
13. 2026-06-01
    days on market $70,000 Active 67 DOM
14. 2026-05-31
    days on market $70,000 Active 66 DOM
15. 2026-05-31
    days on market $70,000 Active 65 DOM
16. 2026-04-30
    price $70,000 463-char remark

    Show marketing remark (463 chars)

    Fully remodeled in 2020 single-family home currently operating as a rental! Updates completed in 2020 include a new kitchen, updated bathroom, all new flooring, light fixtures, and water lines. Electrical panel was updated just prior to current ownership. Tenant-occupied with strong rental history—currently paying $835/month with lease in place through mid-August 2026. Turnkey investment opportunity with immediate cash flow! Owner is a licensed Realtor.

17. 2026-03-26
    listed $80,000 Active 463-char remark

    Show marketing remark (463 chars)

    Fully remodeled in 2020 single-family home currently operating as a rental! Updates completed in 2020 include a new kitchen, updated bathroom, all new flooring, light fixtures, and water lines. Electrical panel was updated just prior to current ownership. Tenant-occupied with strong rental history—currently paying $835/month with lease in place through mid-August 2026. Turnkey investment opportunity with immediate cash flow! Owner is a licensed Realtor.

18. 2024-08-11
    historical $800
19. 2024-08-07
    listed $800
20. 2023-12-14
    historical $800
21. 2023-11-19
    listed $800
22. 1986-03-12
    soldstatus $5,000

ⓘ 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: $603 · $50/mo
• Projected year-2 tax: $847 · $71/mo
• Expected delta: +$245/yr (+$20/mo · 40.6%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,022
• − Mortgage interest: −$3,921
• − Property taxes: −$603
• − Insurance: −$350
• − Repairs & maintenance: −$882
• − Management: −$882
• − Depreciation: −$2,036
• Taxable income: $2,348
• Est. tax owed @ 24.0%: −$564
• After-tax cash flow: $2,786/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: Ravenna City
• NCES district ID: 3904468
• Math proficiency: 31% ▼ -22.00%
• Reading proficiency: 41% ▼ -13.00%
• Median HH income: $40,018
• Composite: 30.19/100
• National rank: #6314
• State rank: #559 of 656 in OH

Livability — Ravenna

• Score: 73/100
• State rank: #323
• US rank: #5309

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ravenna, OH
• County: Portage County · 70,400 people
• City population: 32,612
• Metro: Akron, OH
• Population (ZIP): 32,612
• Household income: $64,918
• Rent vs Own: 31.3% rent · 68.7% own
• Severe rent burden: 1468.0

Population outlook (Portage County) Hauer SSP2

• Today (2025): 166,109 people
• By 2030: 167,752 · +1.0%
• By 2040: 168,640 · +1.5%
• By 2050: 167,469 · +0.8%
• By 2075: 170,131 · +2.4%
• By 2100: 167,958 · +1.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 6% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Italian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Portage

• 2024 margin: R (+15.5) · D 41.8% · R 57.3%
• 2008→2024 swing: -24.5pp toward R · 2008: 9.0pp · 2024: -15.5pp
• All cycles: 2024: R+15.5 2020: R+12.5 2016: R+10.2 2012: D+4.9 2008: D+9.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -146.76%
• Current HPI: 196.8027
• Rent YoY: —
• 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

+1300.0% since first listed

7 events — show timeline

• 2026-04-30 Price Changed $70,000 MLSNOW
• 2026-03-26 Listed $80,000 MLSNOW
• 2024-08-11 Rental Removed $800 BUILDIUM
• 2024-08-07 Listed for Rent $800 BUILDIUM
• 2023-12-14 Rental Removed $800 BUILDIUM
• 2023-11-19 Listed for Rent $800 BUILDIUM
• 1986-03-12 Sold (Public Records) $5,000 Public Records

Property tax history

+23.4%/yr

Latest (2025): $603 · +17.3% YoY. Source: county tax records.