239 Portage Lakes Dr · Portage Lakes, OH 44319

$178,000

2 bd · 2.0 ba · 1,176 sqft · Condo · 1 Days on market

Built 1983 Good condition $377/mo HOA · 10% of rent

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautiful Condo that will make you feel you're on vacation year -round. Desirable unit offering great water views for total relaxation and calmness creating a relaxing retreat feel. Step inside to find an inviting open floor plan with abundant natural light welcoming you home. The well-appointed kitchen has newer (2024) stainless-steel appliances, ample cabinet space, and breakfast bar, making it ideal for both entertaining and everyday living. The primary bedroom is spacious, delivers privacy with the en-suite and walk-in closet. The second large bedroom features closet organizer and full bathroom. The loft adds additional living space for possible office, yoga studio or ti

Key facts

• Open floor plan
• Walk-in closet
• Loft

Tags

• OPEN FLOOR PLAN
• WELL-APPOINTED KITCHEN
• BREAKFAST BAR
• EN-SUITE
• WALK-IN CLOSET
• LOFT

Property features AI

Finance

• Financial info: Pets allowed (cats and dogs OK; size limit applies)
• HOA & community: Homeowners association (Snug Harbor / Continental Mgmt. Co.); Monthly association fee of $377; HOA covers management, common area maintenance, insurance, grounds and structure maintenance, parking, recreation facilities, reserves, roof, sewer, snow removal, trash, and water; Community features include fishing, lake, park, street lights, and tennis courts

Exterior

• Parking: Detached garage with direct access and garage door opener; Additional parking available; Garage faces front and has electricity
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Two-story residence; Entry level at 239; Faces west; Attached property
• Construction: Wood siding construction; Asphalt/fiberglass shingle roof; Block foundation; Built (year source: public records)
• Exterior features: Covered, screened patio/porch; Barbecue area; Dock; Outdoor lighting; Gazebo; Basketball court; Tennis courts; Garage(s); Lakefront with lake privileges and waterfront access; Many trees; Fishing pond(s)

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Breakfast bar
• Bedrooms: Two main-level bedrooms
• Bathrooms: Two full bathrooms (both on the main level)
• Interior features: Beamed ceilings; Breakfast bar; Ceiling fans; Cathedral ceilings; High ceilings; Open floorplan; Track lighting; Walk-in closets; Updated/remodeled condition; Has fireplace with glass doors (living room), wood burning
• Laundry & utility: Main-level laundry room with washer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $178k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $178k).

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 $3,788/mo this rent would consume 61% 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 $50k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 34y 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.

Recommended offer $178,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 2.13% ✓
• Cap rate: 15.63%
• Cash-on-cash: 33.36%
• DSCR: 2.48
• GRM: 3.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 28.7%
• Equity multiple: 2.20×
• Total profit: $59,699
• Equity at exit: $26,540

10-year hold

• IRR: 36.1%
• Equity multiple: 4.35×
• Total profit: $166,799
• Equity at exit: $15,390

Cash invested: $49,840 (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: 3.9×

Monthly cashflow live

• Estimated rent: $3,788 medium
• Mortgage (P&I): −$933
• Tax est. 1.5%: −$222 /mo · $2,670/yr
• Insurance: −$74
• HOA: −$377
• Vacancy / Maint / Mgmt: −$796
• Net cashflow: $1,386

Break-even live

Break-even rent $2,034

Max offer price $178,000

Occupancy floor 58%

Sensitivity live

Price	-10% $1,509	-5% $1,447	+0% $1,386	+5% $1,324	+10% $1,263
Rent	-10% $1,086	-5% $1,236	+0% $1,386	+5% $1,535	+10% $1,685
Rate	-1.0pp $1,475	-0.5pp $1,431	base $1,386	+0.5pp $1,340	+1.0pp $1,293

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: $44,500
• Closing costs: $5,340
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
686 Portage Lakes Dr Coventry Township, OH	2.0	1.0	882	$1,695	$1.92	24d	1	0.42mi
829 Portage Lakes Dr Unit 1496076P Akron, OH	3.0	1.0	1356	$7,700	$5.68	14d	1	0.57mi
234 Mallard Point Dr Akron, OH	1.0–2.0	1.0–2.0	945	$1,530	$1.62	14d	18	0.81mi

HOA detail condo

• Monthly dues: $377 · $4,524/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-09
   status $178,000 Pending 1 DOM
2. 2026-06-07
   remarks 699-char remark
3. 2026-06-07
   listed $178,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $45,460
• − Mortgage interest: −$9,971
• − Property taxes: −$2,670
• − Insurance: −$890
• − Repairs & maintenance: −$3,637
• − Management: −$3,637
• − HOA: −$4,524
• − Depreciation: −$5,178
• Taxable income: $14,953
• Est. tax owed @ 24.0%: −$3,589
• After-tax cash flow: $13,039/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained condo offers a beautiful waterfront view and a good condition, with minor cosmetic updates needed for a fresh look.

Value-add opportunities

• Both Painting — Enhances curb appeal and interior aesthetics
• Both Flooring — Updates carpeted floors for a fresh look
• Both Kitchen appliances — Newer appliances improve functionality and appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Painting — Enhances curb appeal and interior aesthetics ↑
• Both Flooring — Updates carpeted floors for a fresh look ↑
• Both Kitchen appliances — Newer appliances improve functionality and appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+144.2% since first listed

21 events — show timeline

• 2026-06-07 Listed $178,000 MLSNOW
• 2023-08-26 Price Changed $84,900 MLSNOW
• 2020-11-04 Price Changed $84,900 MLSNOW
• 2020-11-04 Price Changed $84,900 MLSNOW
• 2020-10-28 Price Changed $84,900 MLSNOW
• 2020-08-26 Price Changed $84,900 MLSNOW
• 1998-12-04 Price Changed $89,000 MLSNOW
• 1998-12-04 Price Changed $89,000 MLSNOW
• 1998-12-04 Price Changed $89,000 MLSNOW
• 1998-12-04 Price Changed $89,000 MLSNOW
• 1998-12-04 Price Changed $89,000 MLSNOW
• 1998-04-20 Listed $84,900 MLSNOW
• 1996-11-18 Listing Removed — MLSNOW
• 1996-09-19 Listed $84,500 MLSNOW
• 1995-04-01 Listing Removed — MLSNOW
• 1995-02-01 Listed $78,000 MLSNOW
• 1994-12-10 Listing Removed — MLSNOW
• 1994-07-20 Listed $79,500 MLSNOW
• 1993-09-21 Listing Removed — MLSNOW
• 1993-06-23 Listed $73,900 MLSNOW
• 1992-05-11 Listed $72,900 MLSNOW