840 Work Dr · Akron, OH 44320

$99,500

3 bd · 3.0 ba · 2,280 sqft · MultiFamily public records · 28 Days on market

Built 1914 5,501 sqft lot Est $132k · 25% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Selling as-is, where is, sellers choice of title, pre-approved buyers only, proof of funds required. Addendums follow accepted offers. Listing co. holds all earnest money, $1000 required. Bank owned. Cash/Conv. only. Kelley Realty makes no warranty as to the existence of mold in this property and is not liable for the potential harmful effects thereof. No rent info

Key facts

• Large driveway
• Fenced yard
• Ample parking

Tags

• REMODELED UNITS
• FENCED YARD
• LARGE DRIVEWAY
• AMPLE PARKING
• RELAXING FRONT PORCH
• FINISHED LEVELS

Property features AI

Finance

• Financial info: One building with multiple units; Three-bedroom unit currently leased for $875

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Three-story building; Wood siding exterior; Asphalt roof
• Construction: Built (year source: public records); Wood siding construction; Asphalt roof
• Exterior features: Lot recorded at approximately 0.1263 acres

Interior

• Bedrooms: One three-bedroom unit; One two-bedroom unit
• Bathrooms: Two full bathrooms and one half bathroom in the building; Three-bedroom unit includes two total bathrooms; Two-bedroom unit includes one total bathroom
• Heating & cooling: Forced air heating (gas)
• Interior features: Common, full, unfinished basement
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.2-bath units multifamily listed at $100k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $525/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 19.0% 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.

Location & tenants

• 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.
• Market conditions: Rents rising (+1.6%/yr); 102 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• At $2,226/mo this rent would consume 65% of the median local household income ($41k/yr) (locally 1316% 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 $688 of loan paydown is wiped out by about $3k 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 + 1.6% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 31y 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.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,007 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.24% ✓
• Cap rate: 18.97%
• Cash-on-cash: 45.27%
• DSCR: 3.01
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $132,240
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
38 Grand Ave	0.41mi	3/3.0	2,248 (-1%)	10mo	$193,750	$86	70
124 Beck Ave	0.35mi	4/3.0 (+1)	2,225 (-2%)	10mo	$135,000	$61	67
120 Beck Ave	0.35mi	3/2.0	2,145 (-6%)	7mo	$120,000	$56	64
916-918 Peckham St	0.23mi	4/2.0 (+1)	1,960 (-14%)	7mo	$135,000	$69	51
532 Crosby St	0.57mi	4/3.0 (+1)	2,396 (+5%)	22mo	$105,000	$44	42
578 Hoye Ave	0.54mi	4/2.0 (+1)	2,419 (+6%)	20mo	$72,500	$30	39
1049 Jefferson Ave	0.53mi	4/3.0 (+1)	1,972 (-14%)	18mo	$115,000	$58	33

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 · 1.65% rent growth · sell at horizon

5-year hold

• IRR: 40.8%
• Equity multiple: 2.72×
• Total profit: $47,873
• Equity at exit: $14,836

10-year hold

• IRR: 46.5%
• Equity multiple: 5.17×
• Total profit: $116,146
• Equity at exit: $8,603

Cash invested: $27,860 (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 44320

• Rents YoY: 1.6%
• Active inventory: 102
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,226 high
• Mortgage (P&I): −$522
• Tax from tax record: −$144 /mo · $1,732/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $1,051

Break-even live

Break-even rent $896

Max offer price $99,500

Occupancy floor 48%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.2	$2,226
Total (2 units)			$2,226

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
724 Crosby St Akron, OH	2.0	1.0	1582	$995	$0.63	23d	1	0.24mi
724 Crosby St Unit 1 Akron, OH	2.0	1.0	1582	$995	$0.63	43d	1	0.24mi
713 Crosby St Unit 1496092P Akron, OH	3.0	2.0	1840	$5,078	$2.76	21d	1	0.26mi
900 W Market St Akron, OH	2.0–3.0	1.5–2.0	1880	$2,340	$1.24	23d	6	0.49mi
91 Westwood Ave Akron, OH	3.0	1.0	1631	$1,450	$0.89	14d	1	0.59mi
80 N Portage Path Akron, OH	2.0–3.0	2.0	1462	$1,720	$1.18	43d	1	0.63mi
25 N Rose Blvd Unit 1496095P Akron, OH	4.0	2.5	1603	$9,078	$5.66	21d	1	0.67mi
91 N Portage Path Akron, OH	4.0	2.5	2713	$2,260	$0.83	43d	1	0.69mi
686 East Ave Akron, OH	4.0	2.0	2032	$1,700	$0.84	43d	1	0.76mi
311 Crestwood Ave Akron, OH	4.0	2.0	1800	$1,395	$0.78	43d	1	0.92mi
258 W Market St Unit 1496040P Akron, OH	4.0	3.0	3207	$3,567	$1.11	14d	1	1.10mi

Listing history 33 events

1. 2026-06-18
   days on market $99,500 Active 28 DOM
2. 2026-06-17
   days on market $99,500 Active 27 DOM
3. 2026-06-16
   days on market $99,500 Active 26 DOM
4. 2026-06-15
   days on market $99,500 Active 25 DOM
5. 2026-06-14
   days on market $99,500 Active 23 DOM
6. 2026-06-13
   days on market $99,500 Active 22 DOM
7. 2026-06-10
   days on market $99,500 Active 20 DOM
8. 2026-06-09
   days on market $99,500 Active 19 DOM
9. 2026-06-08
   days on market $99,500 Active 18 DOM
10. 2026-06-07
    days on market $99,500 Active 17 DOM
11. 2026-06-05
    days on market $99,500 Active 14 DOM
12. 2026-06-03
    days on market $99,500 Active 13 DOM
13. 2026-06-02
    days on market $99,500 Active 12 DOM
14. 2026-06-01
    days on market $99,500 Active 11 DOM
15. 2026-05-31
    days on market $99,500 Active 10 DOM
16. 2026-05-31
    days on market $99,500 Active 9 DOM
17. 2026-05-21
    listed $99,500 Active
18. 2025-09-04
    historical
19. 2025-08-25
    listed $84,900 Active
20. 2020-02-14
    soldstatus $318,000
21. 2006-05-03
    soldstatus $31,000 367-char remark

    Show marketing remark (367 chars)

    Selling as-is, where is, sellers choice of title, pre-approved buyers only, proof of funds required. Addendums follow accepted offers. Listing co. holds all earnest money, $1000 required. Bank owned. Cash/Conv. only. Kelley Realty makes no warranty as to the existence of mold in this property and is not liable for the potential harmful effects thereof. No rent info

22. 2005-11-08
    listed $34,900 367-char remark

    Show marketing remark (367 chars)

    Selling as-is, where is, sellers choice of title, pre-approved buyers only, proof of funds required. Addendums follow accepted offers. Listing co. holds all earnest money, $1000 required. Bank owned. Cash/Conv. only. Kelley Realty makes no warranty as to the existence of mold in this property and is not liable for the potential harmful effects thereof. No rent info

23. 2003-01-30
    soldstatus $26,000
24. 2003-01-30
    soldstatus $18,000
25. 2002-11-18
    listed $28,500
26. 1998-08-28
    soldstatus $65,700
27. 1998-08-28
    soldstatus $65,700
28. 1998-04-23
    soldstatus $35,000
29. 1998-04-23
    soldstatus $35,000
30. 1996-04-30
    historical
31. 1996-03-22
    listed $39,900
32. 1995-09-12
    historical
33. 1995-08-23
    listed $39,900

ⓘ 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: $1,732 · $144/mo
• Projected year-2 tax: $1,732 · $144/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 · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,712
• − Mortgage interest: −$5,574
• − Property taxes: −$1,732
• − Insurance: −$498
• − Repairs & maintenance: −$2,137
• − Management: −$2,137
• − Depreciation: −$2,895
• Taxable income: $11,740
• Est. tax owed @ 24.0%: −$2,818
• After-tax cash flow: $9,793/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: Akron City
• NCES district ID: 3904348
• Math proficiency: 22% ▼ -17.00%
• Reading proficiency: 30% ▼ -12.00%
• Median HH income: $33,811
• Composite: 21.31/100
• National rank: #8383
• State rank: #602 of 656 in OH

Livability — Akron

• Score: 81/100
• State rank: #104
• US rank: #1591

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Akron, OH
• County: Summit County · 440,783 people
• City population: 174,375
• Metro: Akron, OH
• Population (ZIP): 17,690
• Household income: $41,241
• Rent vs Own: 46.1% rent · 53.9% own
• Severe rent burden: 1316.0

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: Majority Black (63%)
• Race & ethnicity: Black 63% White 27% Two or more races 7% Hispanic / Latino 4%
• Common ancestry: Romanian 2% Italian 1% Scotch-Irish 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 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: ▼ -117.69%
• Current HPI: 122.9888
• Rent YoY: ▲ 1.65%
• 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

+149.4% since first listed

17 events — show timeline

• 2026-05-21 Listed $99,500 MLSNOW
• 2025-09-04 Listing Removed — MLSNOW
• 2025-08-25 Listed $84,900 MLSNOW
• 2020-02-14 Sold (Public Records) $318,000 Public Records
• 2006-05-03 Sold (MLS) $31,000 MLSNOW
• 2005-11-08 Listed $34,900 MLSNOW
• 2003-01-30 Sold (Public Records) $18,000 Public Records
• 2003-01-30 Sold (MLS) $26,000 MLSNOW
• 2002-11-18 Listed $28,500 MLSNOW
• 1998-08-28 Sold (Public Records) $65,700 Public Records
• 1998-08-28 Sold (Public Records) $65,700 Public Records
• 1998-04-23 Sold (Public Records) $35,000 Public Records
• 1998-04-23 Sold (Public Records) $35,000 Public Records
• 1996-04-30 Listing Removed — MLSNOW
• 1996-03-22 Listed $39,900 MLSNOW
• 1995-09-12 Listing Removed — MLSNOW
• 1995-08-23 Listed $39,900 MLSNOW

Property tax history

+2.6%/yr

Latest (2025): $1,732 · +0.1% YoY. Source: county tax records.