349 Canova Dr · Portage Lakes, OH 44319

$206,000

3 bd · 3.0 ba · 1,620 sqft · SingleFamily public records · 4 Days on market

Built 1945 0.34 ac lot Est $295k · 30% under

---

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
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Uniquely styled 3 bedroom 2.5 bath ranch in Coventry township. Vaulted ceilings give it a very open feeling. Master bedroom has a huge walk in closet. Large lot. Much larger than it looks. Close to Portage Lakes. Selling as is. Proof of funds with all offers. Buyer responsible for any inspections and repairs needed. VA does NOT allow contingencies and escalation clauses. VA Addendum’s are required. Seller does not pay title costs. Please note that the seller is Secretary of Veterans Affairs. Property was built prior to 1978 and lead based paint may potentially exist. “This property may qualify for seller financing”. Prior to seller receipt and approval of the full title package from foreclosure, title to the property will be conveyed by a quit claim deed.

Key facts

• Huge walk-in closet
• Ranch style home
• Cozy family room

Tags

• RANCH STYLE HOME
• SPACIOUS LIVING ROOM
• COZY FAMILY ROOM
• INVITING DINING AREA
• WELL-APPOINTED KITCHEN
• HUGE WALK-IN CLOSET

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public sewer; Well water
• Home design: Single-story home; Above-grade finished living area approximately 1,620; Lot approximately 0.344 acres; Facing / orientation not specified; Entry level not specified
• Construction: Aluminum siding; Asphalt/fiberglass roof; Year built from public records
• Exterior features: Deck

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: Three main-level bedrooms
• Bathrooms: Three full bathrooms; Two main-level bathrooms
• Heating & cooling: Forced air heating (gas); Central air conditioning
• Interior features: Partial basement

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $206k.

Deal economics

• At list price, monthly cash flow is $5k ($61k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $206k).
• Cap rate 36.3% vs local median 13.7% in Portage Lakes — 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 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 $8,394/mo this rent would consume 135% 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 $6k 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 $58k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 27y 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.
• Current owner paid $83k; list at $206k implies a 149% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $206,000

Questions for the listing agent

1. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 4.07% ✓
• Cap rate: 36.28%
• Cash-on-cash: 107.11%
• DSCR: 5.77
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $294,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
541 Canova Dr	0.30mi	3/2.0	1,615 (-0%)	12mo	$245,000	$152	71
472 Saunders Ave	0.26mi	3/2.0	1,512 (-7%)	10mo	$425,000	$281	65
156 W Ingleside Dr	0.53mi	4/3.0 (+1)	1,534 (-5%)	2mo	$240,000	$156	60
2976 S Main St	0.73mi	3/1.5	1,639 (+1%)	8mo	$265,000	$162	52
325 Hohman Ave	0.39mi	3/2.0	1,450 (-10%)	12mo	$244,000	$168	51
3648 Portage Point Blvd	0.46mi	4/2.0 (+1)	1,543 (-5%)	14mo	$572,000	$371	50
680 Isle View Dr	0.58mi	3/2.5	1,494 (-8%)	12mo	$750,000	$502	48
3673 Ace Dr	0.56mi	3/1.5	1,482 (-8%)	9mo	$585,000	$395	46
3691 S Turkeyfoot Rd	0.66mi	3/2.0	1,517 (-6%)	12mo	$273,500	$180	44
3078 Greenhill Rd	0.59mi	3/2.0	1,450 (-10%)	9mo	$295,000	$203	44
445 W Willowview Dr	0.61mi	3/2.0	1,487 (-8%)	13mo	$270,000	$182	43
3704 S Turkeyfoot Rd	0.69mi	2/1.5 (-1)	1,404 (-13%)	8mo	$212,000	$151	28

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.05×
• Total profit: $291,197
• Equity at exit: $30,715

10-year hold

• IRR: —
• Equity multiple: 12.65×
• Total profit: $672,063
• Equity at exit: $17,811

Cash invested: $57,680 (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: 2.0×

Monthly cashflow live

• Estimated rent: $8,394 medium
• Mortgage (P&I): −$1,080
• Tax from tax record: −$316 /mo · $3,797/yr
• Insurance: −$86
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,763
• Net cashflow: $5,093

Break-even live

Break-even rent $1,947

Max offer price $206,000

Occupancy floor 34%

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: $51,500
• Closing costs: $6,180
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3581 Mong Ave Unit 1496037P Akron, OH	4.0	2.0	2142	$11,111	$5.19	44d	1	0.37mi
829 Portage Lakes Dr Unit 1496076P Akron, OH	3.0	1.0	1356	$7,700	$5.68	14d	1	0.50mi
234 Mallard Point Dr Akron, OH	1.0–2.0	1.0–2.0	945	$1,530	$1.62	14d	18	0.90mi

Listing history 4 events

1. 2026-06-09
   statusdays on market $206,000 Pending 4 DOM
2. 2026-06-08
   days on market $206,000 Active 3 DOM
3. 2026-06-07
   remarks 699-char remark
4. 2026-06-07
   listed $206,000 Active 2 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: $3,797 · $316/mo
• Projected year-2 tax: $3,797 · $316/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 7/10 Severe FEMA zone X (unshaded) · 77% 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: $100,727
• − Mortgage interest: −$11,539
• − Property taxes: −$3,797
• − Insurance: −$1,696
• − Repairs & maintenance: −$8,058
• − Management: −$8,058
• − Depreciation: −$5,993
• Taxable income: $61,585
• Est. tax owed @ 24.0%: −$14,780
• After-tax cash flow: $46,337/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: 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

+692.3% since first listed

25 events — show timeline

• 2026-06-04 Listed $206,000 MLSNOW
• 2025-12-16 Listing Removed — MLSNOW
• 2025-12-15 Relisted — MLSNOW
• 2025-10-14 Listed $189,500 MLSNOW
• 2019-05-16 Sold (MLS) $82,600 MLSNOW
• 2019-05-10 Pending — MLSNOW
• 2019-04-07 Contingent — MLSNOW
• 2019-03-29 Listed $82,500 MLSNOW
• 2015-08-24 Sold (MLS) $124,000 MLSNOW
• 2015-08-13 Sold (Public Records) $124,000 Public Records
• 2015-07-20 Pending — MLSNOW
• 2015-07-02 Contingent — MLSNOW
• 2015-06-24 Listed $124,000 MLSNOW
• 2007-02-15 Sold (MLS) $80,000 MLSNOW
• 2006-11-30 Listing Removed — MLSNOW
• 2006-09-02 Listed $87,900 MLSNOW
• 2003-02-14 Sold (Public Records) $103,000 Public Records
• 2000-04-17 Sold (Public Records) $98,000 Public Records
• 2000-03-23 Listing Removed — MLSNOW
• 2000-02-23 Listed $104,900 MLSNOW
• 2000-02-19 Listing Removed — MLSNOW
• 2000-01-21 Listed $119,900 MLSNOW
• 1999-10-26 Listing Removed — MLSNOW
• 1999-07-26 Listed $128,900 MLSNOW
• 1986-01-09 Sold (Public Records) $26,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $3,797 · +3.3% YoY. Source: county tax records.