1296 Weiser Ave

Akron, OH 44314

$80,000C+

2 bd · 1.0 ba · 744 sqft · Built 1929 · SingleFamily · Active · 163 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $960/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$139
• HOA: −$0
• Vac / Maint / Mgmt: −$202
• Net cashflow: $199/mo
• Annual: $2,393/yr
• Cap rate: 9.28%
• Cash-on-cash: 10.68%
• DSCR: 1.48
• 1% rule: 1.20%
• Cash to close: $22,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $199 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($960 rent vs $80k).
• It's been on market 163 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k 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.
• 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.
• Zoned schools: Sam Salem Community Learning Center (math 37% / reading 42%, grade F, #1,055 of 1,584 statewide, top 68%, 342 students, 0% FRL); Innes Community Learning Center (math 8% / reading 15%, grade F, #641 of 654 statewide, top 98%, 641 students, 0% FRL); Akron Early College High School (math 62% / reading 98%, grade A, #34 of 781 statewide, top 4%, 377 students, 0% FRL) — zoned schools average 0% FRL vs 66% district-wide (66 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 44% at this address vs 26% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Akron City average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.9%/yr); 104 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• 2 sale attempts since 23y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $53k; list at $80k implies a 52% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.9% rent growth), your $22k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 9.3% 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.

Questions for listing agent

• It's been on market 163 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.