525 Irma St · Kent, OH 44240

$600,000

4 bd · 2.0 ba · 1,456 sqft · MultiFamily public records · 17 Days on market

Built 1960 0.67 ac lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +7.4/30.0
• Livability +4.5/5.0
• Schools +4.3/10.0
• Rent growth +4.2/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• 1% rule +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

A very unique opportunity to buy 6 doors together as a package deal. All 3 buildings are all brick ranch duplexes with 2 bedrooms. The building on Chelton has full basements and garages. The building on Irma shares a parcel with Chelton, and has garages with no basement. Parmalee stands alone on it's own parcel. Immediate income and currently has property management.

Key facts

• 0.67 acre lot
• 4 garage spots
• Built 1960

Property features AI

Finance

• Financial info: Income property with 6 residential units (all units configured the same); At least one unit is currently leased (lease expires June 10, 2026)

Exterior

• Parking: Attached garage with 4 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single-story buildings (total of 3 buildings)
• Construction: Brick construction; Block foundation; Asphalt/fiberglass roof
• Exterior features: Corner city lot

Interior

• Kitchen: Kitchens in each unit (details not provided)
• Bedrooms: Six identical 2-bedroom units
• Bathrooms: Six full bathrooms (one per unit)
• Heating & cooling: Gas forced-air heating; Wall/window cooling units
• Interior features: Full basement
• Laundry & utility: Tenants pay all utilities

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/?-bath units multifamily listed at $600k.

Deal economics

• At list price, monthly cash flow is $-771 ($-9k/yr) — negative. Per door: $-193/mo.
• To cash-flow at today's rent, offer at most $464k (22.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $389k (35.1% below list).
• Recommended offer: $389k (35.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 89/100 on livability (#13 in OH, #129 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment F.
• Kent City (suburban): math 46% / reading 58% proficiency, ranked #433 of 656 in OH (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+6.8%/yr); 140 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).
• At $3,894/mo this rent would consume 81% of the median local household income ($58k/yr) (locally 2634% 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 $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($591k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $150k; list at $600k implies a 300% gain — meaningful room to come down on a strong offer.

Recommended offer $389,400 (35.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.65% ✗
• Cap rate: 4.75%
• Cash-on-cash: -5.50%
• DSCR: 0.76
• GRM: 12.8

CMA / ARV

• ARV (on-the-fly): $260,624
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1047 Leonard Blvd	0.59mi	4/2.0	1,267 (-13%)	15mo	$227,000	$179	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 · 6.8% rent growth · sell at horizon

5-year hold

• IRR: -22.0%
• Equity multiple: 0.22×
• Total profit: $-130,972
• Equity at exit: $89,462

10-year hold

• IRR: -9.2%
• Equity multiple: 0.35×
• Total profit: $-109,158
• Equity at exit: $51,877

Cash invested: $168,000 (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 44240

• Rents YoY: 6.8%
• Active inventory: 140
• Price-to-rent: 51.4×

Monthly cashflow live

• Estimated rent: $3,894 medium
• Mortgage (P&I): −$3,146
• Tax from tax record: −$450 /mo · $5,404/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$818
• Net cashflow: $-771

Break-even live

Break-even rent $4,869

Max offer price $463,879

Occupancy floor —

Sensitivity live

Price	-10% $-431	-5% $-601	+0% $-771	+5% $-940	+10% $-1,110
Rent	-10% $-1,078	-5% $-924	+0% $-771	+5% $-617	+10% $-463
Rate	-1.0pp $-468	-0.5pp $-618	base $-771	+0.5pp $-926	+1.0pp $-1,084

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	—	$3,896
Total (4 units)			$3,894

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: $150,000
• Closing costs: $18,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1204 Middlebury Rd Kent, OH	3.0	2.0	1120	$1,900	$1.70	15d	1	0.53mi
356 Cherry St Unit NA Kent, OH	3.0	1.5	1175	$1,900	$1.62	45d	1	1.38mi

Listing history 13 events

1. 2026-06-18
   days on market $600,000 Active 17 DOM
2. 2026-06-17
   days on market $600,000 Active 16 DOM
3. 2026-06-16
   days on market $600,000 Active 15 DOM
4. 2026-06-15
   days on market $600,000 Active 14 DOM
5. 2026-06-14
   days on market $600,000 Active 12 DOM
6. 2026-06-13
   days on market $600,000 Active 11 DOM
7. 2026-06-10
   days on market $600,000 Active 9 DOM
8. 2026-06-09
   days on market $600,000 Active 8 DOM
9. 2026-06-08
   days on market $600,000 Active 7 DOM
10. 2026-06-07
    days on market $600,000 Active 6 DOM
11. 2026-06-03
    days on market $600,000 Active 2 DOM
12. 2026-06-02
    remarks 369-char remark
13. 2026-06-02
    listed $600,000 Active 1 DOM

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

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $5,404 · $450/mo
• Projected year-2 tax: $7,382 · $615/mo
• Expected delta: +$1,978/yr (+$165/mo · 36.6%)

ⓘ 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 2/10 Low 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,728
• − Mortgage interest: −$33,609
• − Property taxes: −$5,404
• − Insurance: −$3,000
• − Repairs & maintenance: −$3,738
• − Management: −$3,738
• − Depreciation: −$17,455
• Taxable loss: −$20,216
• Est. tax savings @ 24.0%: +$4,852
• After-tax cash flow: $-4,395/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: Kent City
• NCES district ID: 3904416
• Math proficiency: 46% ▼ -23.00%
• Reading proficiency: 58% ▼ -15.00%
• Median HH income: $36,095
• Composite: 43.07/100
• National rank: #3092
• State rank: #433 of 656 in OH

Livability — Kent

• Score: 89/100
• State rank: #13
• US rank: #129

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kent, OH
• County: Portage County · 70,400 people
• City population: 37,788
• Metro: Akron, OH
• Population (ZIP): 37,788
• Household income: $57,627
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 2634.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 6% Black 6% Asian 4% Hispanic / Latino 3%
• Common ancestry: Romanian 7% Slovak 2% Italian 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 92% English-only · Other Indo-European 2% Arabic 2% Other Asian/Pacific 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: ▼ -162.04%
• Current HPI: 189.3174
• Rent YoY: ▲ 6.80%
• 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

+300.0% since first listed

2 events — show timeline

• 2026-06-01 Listed $600,000 MLSNOW
• 1985-07-08 Sold (Public Records) $150,000 Public Records

Property tax history

+0.5%/yr

Latest (2025): $5,404 · +1.5% YoY. Source: county tax records.