2226 Penn Pl NE · Canton, OH 44704

$59,900

4 bd · 1.0 ba · 1,404 sqft · SingleFamily public records · 29 Days on market

Built 1916 $43/sqft · 12% below area Est $68k · 12% under ↓ 57% since listing

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Why this score? — see what drove the A- 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 +13.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

Needs work, but great potential. 4 bedrooms, 1404 sq ft, brick/vinyl exterior. Renovation financing available! Room sizes estimated. Foreclosure. Sold as is. No disclosures. Buyer MUST provide Proof of Funds or Pre-Approval Letter without contingencies WITH INITIAL OFFER. Offers without POF will NOT be considered. Agents read agent only remarks.

Key facts

• Solid brick
• Additional storage
• Built 1916

Tags

• SOLID BRICK
• MAJOR SYSTEMS UPDATED
• FULL ELECTRICAL UPGRADES
• FULL PLUMBING UPGRADES
• FULL UNFINISHED BASEMENT
• ADDITIONAL STORAGE

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $538 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.1% vs local median 5.1% in Canton — 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 71/100 on livability (#441 in OH) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A; Watch: crime F, employment F.
• Canton City (urban): math 17% / reading 26% proficiency, ranked #627 of 656 in OH (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 20 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 528 units permitted in Stark County in 2024 (84 in 5+ unit buildings).
• This rent runs 41% of the median local income ($34k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $4k of equity ($414 loan paydown + $4k appreciation (6.2% local appreciation)).
• Stark County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.2% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $28k; list at $60k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,001 (1.5% below list)

Questions for the listing agent

1. Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.94% ✓
• Cap rate: 17.07%
• Cash-on-cash: 38.50%
• DSCR: 2.71
• GRM: 4.3

CMA / ARV

• ARV (median comp): $68,289
• List price: $59,900
• Delta: -12.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1817 Penn Pl NE	0.41mi	3/1.0 (-1)	1,389 (-1%)	10mo	$59,900	$43	66
515 Flamos Cir NE	0.43mi	3/1.5 (-1)	1,300 (-7%)	2mo	$119,000	$92	59
213 Hartford Ave SE	0.66mi	4/1.5	1,462 (+4%)	9mo	$145,000	$99	53
2306 3rd St NE	0.43mi	3/2.0 (-1)	1,319 (-6%)	11mo	$129,900	$98	52
2639 Squirrel Hollow St NE	0.44mi	3/2.0 (-1)	1,556 (+11%)	2mo	$330,000	$212	51
2001 3rd St SE	0.60mi	3/1.0 (-1)	1,456 (+4%)	13mo	$126,000	$87	50
1817 3rd St NE	0.53mi	3/1.0 (-1)	1,555 (+11%)	6mo	$25,000	$16	48
211 Girard Ave NE	0.41mi	3/1.0 (-1)	1,248 (-11%)	19mo	$61,000	$49	41
1942 4th St SE	0.74mi	4/1.0	1,536 (+9%)	13mo	$40,000	$26	39
206 Monroe Ave SE	0.57mi	3/1.0 (-1)	1,232 (-12%)	17mo	$90,000	$73	34
2511 Tuscarawas St E	0.62mi	3/1.0 (-1)	1,595 (+14%)	12mo	$127,500	$80	33
122 Freedom Ave NE	0.58mi	3/2.0 (-1)	1,200 (-14%)	16mo	$114,900	$96	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.17% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 48.6%
• Equity multiple: 4.11×
• Total profit: $52,169
• Equity at exit: $38,296

10-year hold

• IRR: 45.4%
• Equity multiple: 8.54×
• Total profit: $126,451
• Equity at exit: $70,008

Cash invested: $16,772 (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 44704

• Home prices YoY: 7.2%
• Active inventory: 20
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,161 high
• Mortgage (P&I): −$314
• Tax from tax record: −$40 /mo · $481/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $538

Break-even live

Break-even rent $480

Max offer price $59,900

Occupancy floor 49%

Sensitivity live

Price	-10% $572	-5% $555	+0% $538	+5% $521	+10% $504
Rent	-10% $446	-5% $492	+0% $538	+5% $584	+10% $630
Rate	-1.0pp $568	-0.5pp $553	base $538	+0.5pp $523	+1.0pp $507

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1906 6th St NE Unit 1906-002 Canton, OH	3.0	1.0	906	$1,000	$1.10	14d	1	0.31mi
1946 Otto Pl NE Canton, OH	3.0	1.0	1499	$28,000	$18.68	14d	1	0.38mi
1511 2nd St NE Canton, OH	3.0	1.0	1129	$1,250	$1.11	44d	1	0.76mi
316 Young Ave NE Canton, OH	4.0	1.0	1268	$1,050	$0.83	14d	1	0.81mi
924 Spring Ave NE Canton, OH	4.0	1.5	1407	$1,395	$0.99	21d	1	1.12mi
1615 Rowland Ave NE Canton, OH	5.0	1.0	1388	$1,500	$1.08	14d	1	1.27mi
1504 14th St SE Canton, OH	3.0	1.0	924	$1,120	$1.21	14d	1	1.29mi
1613 Spring Ave NE Canton, OH	3.0	1.0	1320	$1,095	$0.83	21d	1	1.49mi
1220 Market Ave N Unit 4 Canton, OH	3.0	1.0	1400	$1,100	$0.79	44d	1	1.50mi

Listing history 18 events

1. 2026-06-14
   days on market $59,900 Active 29 DOM
2. 2026-06-13
   days on market $59,900 Active 28 DOM
3. 2026-06-10
   days on market $59,900 Active 26 DOM
4. 2026-06-09
   days on market $59,900 Active 25 DOM
5. 2026-06-08
   days on market $59,900 Active 24 DOM
6. 2026-06-07
   days on market $59,900 Active 23 DOM
7. 2026-06-05
   days on market $59,900 Active 20 DOM
8. 2026-06-03
   days on market $59,900 Active 19 DOM
9. 2026-06-02
   days on market $59,900 Active 18 DOM
10. 2026-06-01
    days on market $59,900 Active 17 DOM
11. 2026-05-31
    days on market $59,900 Active 16 DOM
12. 2026-05-30
    days on market $59,900 Active 15 DOM
13. 2026-05-15
    listed $59,900 Active 740-char remark
14. 2009-07-14
    soldstatus $27,900
15. 2009-01-07
    soldstatus $3,500 348-char remark

    Show marketing remark (348 chars)

    Needs work, but great potential. 4 bedrooms, 1404 sq ft, brick/vinyl exterior. Renovation financing available! Room sizes estimated. Foreclosure. Sold as is. No disclosures. Buyer MUST provide Proof of Funds or Pre-Approval Letter without contingencies WITH INITIAL OFFER. Offers without POF will NOT be considered. Agents read agent only remarks.

16. 2008-12-17
    historical 348-char remark

    Show marketing remark (348 chars)

    Needs work, but great potential. 4 bedrooms, 1404 sq ft, brick/vinyl exterior. Renovation financing available! Room sizes estimated. Foreclosure. Sold as is. No disclosures. Buyer MUST provide Proof of Funds or Pre-Approval Letter without contingencies WITH INITIAL OFFER. Offers without POF will NOT be considered. Agents read agent only remarks.

17. 2008-08-22
    listed $6,900 348-char remark

    Show marketing remark (348 chars)

    Needs work, but great potential. 4 bedrooms, 1404 sq ft, brick/vinyl exterior. Renovation financing available! Room sizes estimated. Foreclosure. Sold as is. No disclosures. Buyer MUST provide Proof of Funds or Pre-Approval Letter without contingencies WITH INITIAL OFFER. Offers without POF will NOT be considered. Agents read agent only remarks.

18. 2004-08-25
    soldstatus $65,000

ⓘ 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: $481 · $40/mo
• Projected year-2 tax: $708 · $59/mo
• Expected delta: +$227/yr (+$19/mo · 47.1%)

ⓘ 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 ≥96°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: $13,934
• − Mortgage interest: −$3,355
• − Property taxes: −$481
• − Insurance: −$300
• − Repairs & maintenance: −$1,115
• − Management: −$1,115
• − Depreciation: −$1,743
• Taxable income: $5,826
• Est. tax owed @ 24.0%: −$1,398
• After-tax cash flow: $5,060/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: Canton City
• NCES district ID: 3904371
• Math proficiency: 17% ▼ -17.00%
• Reading proficiency: 26% ▼ -12.00%
• Median HH income: $28,825
• Composite: 17.1/100
• National rank: #9116
• State rank: #627 of 656 in OH

Livability — Canton

• Score: 71/100
• State rank: #441
• US rank: #7259

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Canton, OH
• County: Stark · 366,688 people
• City population: 103,614
• Metro: Canton-Massillon, OH
• Population (ZIP): 3,583
• Household income: $34,063
• Rent vs Own: 45.3% rent · 54.7% own
• Severe rent burden: 10.1

Population outlook (Stark County) Hauer SSP2

• Today (2025): 373,708 people
• By 2030: 371,245 · -0.7%
• By 2040: 361,331 · -3.3%
• By 2050: 345,290 · -7.6%
• By 2075: 302,669 · -19.0%
• By 2100: 238,870 · -36.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 58% White 33% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Hispanic 3% Romanian 1% Polish 1%

Political lean MEDSL · Stark

• 2024 margin: Strong R (+21.9) · D 38.6% · R 60.5%
• 2008→2024 swing: -27.4pp toward R · 2008: 5.5pp · 2024: -21.9pp
• All cycles: 2024: R+21.9 2020: R+18.5 2016: R+17.4 2012: R+0.4 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.17%
• Current HPI: 91.3426
• 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

-57.1% since first listed

5 events — show timeline

• 2009-07-14 Sold (Public Records) $27,900 Public Records
• 2009-01-07 Sold (MLS) $3,500 MLSNOW
• 2008-12-17 Listing Removed — MLSNOW
• 2008-08-22 Listed $6,900 MLSNOW
• 2004-08-25 Sold (Public Records) $65,000 Public Records

Property tax history

-17.9%/yr

Latest (2024): $481 · +44.1% YoY. Source: county tax records.