243 Portage Lakes Dr Unit E · Portage Lakes, OH 44319

$179,000

2 bd · 2.0 ba · 1,176 sqft · Condo · 61 Days on market

Built 1983 Poor condition $152/sqft · at area comps Est $178k · at est. $365/mo HOA · 10% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.3/15.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

What a view! Move in and enjoy this 2 bedroom, 2 bath condo with a spectacular waterfront view from your screened in porch! Master with ensuite and walk-in closet. Great room with gas fireplace and dining area that opens to a fully applianced kitchen with granite counters. 2nd Bedroom has 2 closets! Main bath updated with walk-in shower. The association has a covered pavilion for condo owners to enjoy and a dock to launch a kayak or canoe. Close to all the Portage Lakes activities, but offers a peaceful retreat. One car garage. The furniture that remains in the condo can convey with an acceptable offer.

Key facts

• Screened in porch
• Waterfront view
• Gas fireplace

Tags

• WATERFRONT VIEW
• SCREENED IN PORCH
• GAS FIREPLACE
• FULLY APPLIANCED KITCHEN
• GRANITE COUNTERS
• WALK-IN SHOWER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $179k. Condition is rated poor.

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 $179k).
• Recommended offer: $168k (6.0% below list) — sets the bar for market timing.

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+, amenities F, commute 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.
• Zoned schools: Coventry Elementary School (math 72% / reading 67%, grade A-, #391 of 1,584 statewide, top 27%, 461 students, 50% FRL); Coventry Middle School (math 49% / reading 66%, grade B, #302 of 654 statewide, top 46%, 479 students, 0% FRL); Coventry High School (math 37% / reading 52%, grade F, #470 of 781 statewide, top 62%, 557 students, 43% FRL).
• Market conditions: 90 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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

• It's been on market 61 days — a 6% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 18y 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 $168,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 2.12% ✓
• Cap rate: 15.62%
• Cash-on-cash: 33.30%
• DSCR: 2.48
• GRM: 3.9

CMA / ARV

• ARV (median comp): $178,266
• List price: $179,000
• Delta: 0.41%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 28.6%
• Equity multiple: 2.19×
• Total profit: $59,854
• Equity at exit: $26,689

10-year hold

• IRR: 36.1%
• Equity multiple: 4.34×
• Total profit: $167,321
• Equity at exit: $15,477

Cash invested: $50,120 (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): −$939
• Tax est. 1.5%: −$224 /mo · $2,685/yr
• Insurance: −$75
• HOA: −$365
• Vacancy / Maint / Mgmt: −$796
• Net cashflow: $1,391

Break-even live

Break-even rent $2,028

Max offer price $179,000

Occupancy floor 58%

Sensitivity live

Price	-10% $1,514	-5% $1,453	+0% $1,391	+5% $1,329	+10% $1,267
Rent	-10% $1,091	-5% $1,241	+0% $1,391	+5% $1,540	+10% $1,690
Rate	-1.0pp $1,481	-0.5pp $1,436	base $1,391	+0.5pp $1,344	+1.0pp $1,297

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: $44,750
• Closing costs: $5,370
• 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	25d	1	0.42mi
829 Portage Lakes Dr Unit 1496076P Akron, OH	3.0	1.0	1356	$7,700	$5.68	16d	1	0.57mi
234 Mallard Point Dr Akron, OH	1.0–2.0	1.0–2.0	945	$1,530	$1.62	16d	18	0.81mi

HOA detail condo

• Monthly dues: $365 · $4,380/yr
• Likely covers: watergas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-09
   statusdays on market $179,000 Pending 61 DOM
2. 2026-06-09
   status $179,000 Active 60 DOM
3. 2026-06-08
   days on market $179,000 Contingent 60 DOM
4. 2026-06-07
   days on market $179,000 Contingent 59 DOM
5. 2026-06-03
   days on market $179,000 Contingent 55 DOM
6. 2026-06-02
   days on market $179,000 Contingent 54 DOM
7. 2026-06-01
   days on market $179,000 Contingent 53 DOM
8. 2026-05-31
   days on market $179,000 Contingent 52 DOM
9. 2026-05-31
   days on market $179,000 Contingent 51 DOM
10. 2026-05-09
    historical Contingent 610-char remark

    Show marketing remark (610 chars)

    What a view! Move in and enjoy this 2 bedroom, 2 bath condo with a spectacular waterfront view from your screened in porch! Master with ensuite and walk-in closet. Great room with gas fireplace and dining area that opens to a fully applianced kitchen with granite counters. 2nd Bedroom has 2 closets! Main bath updated with walk-in shower. The association has a covered pavilion for condo owners to enjoy and a dock to launch a kayak or canoe. Close to all the Portage Lakes activities, but offers a peaceful retreat. One car garage. The furniture that remains in the condo can convey with an acceptable offer.

11. 2026-05-04
    status Active 610-char remark

    Show marketing remark (610 chars)

    What a view! Move in and enjoy this 2 bedroom, 2 bath condo with a spectacular waterfront view from your screened in porch! Master with ensuite and walk-in closet. Great room with gas fireplace and dining area that opens to a fully applianced kitchen with granite counters. 2nd Bedroom has 2 closets! Main bath updated with walk-in shower. The association has a covered pavilion for condo owners to enjoy and a dock to launch a kayak or canoe. Close to all the Portage Lakes activities, but offers a peaceful retreat. One car garage. The furniture that remains in the condo can convey with an acceptable offer.

12. 2026-04-28
    historical Contingent 610-char remark

    Show marketing remark (610 chars)

    What a view! Move in and enjoy this 2 bedroom, 2 bath condo with a spectacular waterfront view from your screened in porch! Master with ensuite and walk-in closet. Great room with gas fireplace and dining area that opens to a fully applianced kitchen with granite counters. 2nd Bedroom has 2 closets! Main bath updated with walk-in shower. The association has a covered pavilion for condo owners to enjoy and a dock to launch a kayak or canoe. Close to all the Portage Lakes activities, but offers a peaceful retreat. One car garage. The furniture that remains in the condo can convey with an acceptable offer.

13. 2026-04-09
    listed $179,000 Active 610-char remark

    Show marketing remark (610 chars)

    What a view! Move in and enjoy this 2 bedroom, 2 bath condo with a spectacular waterfront view from your screened in porch! Master with ensuite and walk-in closet. Great room with gas fireplace and dining area that opens to a fully applianced kitchen with granite counters. 2nd Bedroom has 2 closets! Main bath updated with walk-in shower. The association has a covered pavilion for condo owners to enjoy and a dock to launch a kayak or canoe. Close to all the Portage Lakes activities, but offers a peaceful retreat. One car garage. The furniture that remains in the condo can convey with an acceptable offer.

14. 2021-12-28
    soldstatus $160,000 Closed 1011-char remark

    Show marketing remark (1011 chars)

    Wow!! This renovated condominium offers waterfront living! Walk out of the living room into a three-season room plus a deck to enjoy sunset views over Long Lake. The spacious great room also features a fireplace with a gorgeous wall of windows to further enjoy the spectacular water view. The owner has recently updated the condo including luxury vinyl flooring, freshly painted kitchen cabinets and new granite countertops in the Spring of 2021. New this year: Stove and Refrigerator. New in 2020: Washing Machine. The lovely foyer, kitchen and laundry room are freshly painted. With a large walk-in closet in master bathroom; the owner’s suite is a private retreat. The condo has an open floor plan as the dining area flows into the kitchen. The condo boasts a large second bedroom with another large closet. A second full bath and large laundry with pantry complete the condo’s interior. The condo provides a one car garage. The association has a covered pavilion for condo owners to enjoy and a

15. 2021-12-05
    status Pending 1011-char remark

    Show marketing remark (1011 chars)

    Wow!! This renovated condominium offers waterfront living! Walk out of the living room into a three-season room plus a deck to enjoy sunset views over Long Lake. The spacious great room also features a fireplace with a gorgeous wall of windows to further enjoy the spectacular water view. The owner has recently updated the condo including luxury vinyl flooring, freshly painted kitchen cabinets and new granite countertops in the Spring of 2021. New this year: Stove and Refrigerator. New in 2020: Washing Machine. The lovely foyer, kitchen and laundry room are freshly painted. With a large walk-in closet in master bathroom; the owner’s suite is a private retreat. The condo has an open floor plan as the dining area flows into the kitchen. The condo boasts a large second bedroom with another large closet. A second full bath and large laundry with pantry complete the condo’s interior. The condo provides a one car garage. The association has a covered pavilion for condo owners to enjoy and a

16. 2021-12-01
    listed $149,900 Active 1011-char remark

    Show marketing remark (1011 chars)

    Wow!! This renovated condominium offers waterfront living! Walk out of the living room into a three-season room plus a deck to enjoy sunset views over Long Lake. The spacious great room also features a fireplace with a gorgeous wall of windows to further enjoy the spectacular water view. The owner has recently updated the condo including luxury vinyl flooring, freshly painted kitchen cabinets and new granite countertops in the Spring of 2021. New this year: Stove and Refrigerator. New in 2020: Washing Machine. The lovely foyer, kitchen and laundry room are freshly painted. With a large walk-in closet in master bathroom; the owner’s suite is a private retreat. The condo has an open floor plan as the dining area flows into the kitchen. The condo boasts a large second bedroom with another large closet. A second full bath and large laundry with pantry complete the condo’s interior. The condo provides a one car garage. The association has a covered pavilion for condo owners to enjoy and a

17. 2015-10-29
    soldstatus $75,000 Sold
18. 2015-10-21
    status Pending
19. 2015-09-23
    historical Contingent
20. 2015-09-10
    price $79,900
21. 2015-07-21
    listed $84,900 Active
22. 2015-07-08
    historical
23. 2015-04-08
    listed $85,000 Active
24. 2015-03-17
    historical
25. 2015-03-04
    listed $85,000 Active
26. 2014-10-09
    historical
27. 2014-03-10
    listed $86,900
28. 2008-09-16
    soldstatus $97,000
29. 2008-07-31
    historical
30. 2008-03-31
    listed $99,900

ⓘ 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: −$10,027
• − Property taxes: −$2,685
• − Insurance: −$895
• − Repairs & maintenance: −$3,637
• − Management: −$3,637
• − HOA: −$4,380
• − Depreciation: −$5,207
• Taxable income: $14,992
• Est. tax owed @ 24.0%: −$3,598
• After-tax cash flow: $13,091/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 · 1 photo

Poor 20/100 Extensive rehab

This property is in poor condition and requires extensive repairs and updates to improve its value and make it move-in ready.

Repairs flagged

• Major Kitchen cabinets — Cabinets appear old and worn, with no visible updates.
• Major Kitchen countertops — Countertops appear old and worn, with no visible updates.
• Major Bathroom fixtures — Fixtures appear old and worn, with no visible updates.
• Major Flooring — Flooring appears old and worn, with no visible updates.
• Major Interior walls — Interior walls appear old and worn, with no visible updates.
• Major Exterior siding — Exterior siding appears old and worn, with no visible updates.
• Major Windows — Windows appear old and worn, with no visible updates.
• Major Foundation — Foundation appears old and worn, with no visible updates.
• Major HVAC/mechanicals — No visible HVAC or mechanical systems in the photos.
• Major Landscaping — Landscaping and curb appeal appear old and worn, with no visible updates.

Value-add opportunities

• Both Paint interior walls — Fresh paint can improve the appearance and value of the home.
• Both Replace kitchen cabinets and countertops — New cabinets and countertops can significantly improve the kitchen's functionality and value.
• Both Replace bathroom fixtures — New fixtures can improve the bathroom's functionality and value.
• Both Replace flooring — New flooring can improve the home's appearance and value.
• Both Replace exterior siding — New siding can improve the home's curb appeal and value.
• Both Replace windows — New windows can improve the home's energy efficiency and value.
• Both Replace HVAC/mechanicals — New HVAC and mechanical systems can improve the home's comfort and value.
• Both Improve landscaping — New landscaping can improve the home's curb appeal and value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Cabinets appear old and worn, with no visible updates.	Major	$15,000–50,000
Kitchen countertops · Countertops appear old and worn, with no visible updates.	Major	$15,000–50,000
Bathroom fixtures · Fixtures appear old and worn, with no visible updates.	Major	$15,000–50,000
Flooring · Flooring appears old and worn, with no visible updates.	Major	$15,000–50,000
Interior walls · Interior walls appear old and worn, with no visible updates.	Major	$15,000–50,000
Exterior siding · Exterior siding appears old and worn, with no visible updates.	Major	$15,000–50,000
Windows · Windows appear old and worn, with no visible updates.	Major	$15,000–50,000
Foundation · Foundation appears old and worn, with no visible updates.	Major	$15,000–50,000
HVAC/mechanicals · No visible HVAC or mechanical systems in the photos.	Major	$15,000–50,000
Landscaping · Landscaping and curb appeal appear old and worn, with no visible updates.	Major	$15,000–50,000
Total estimated repair cost · 10 items		$150,000–500,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can improve the appearance and value of the home. ↑
• Both Replace kitchen cabinets and countertops — New cabinets and countertops can significantly improve the kitchen's functionality and value. ↑
• Both Replace bathroom fixtures — New fixtures can improve the bathroom's functionality and value. ↑
• Both Replace flooring — New flooring can improve the home's appearance and value. ↑
• Both Replace exterior siding — New siding can improve the home's curb appeal and value. ↑
• Both Replace windows — New windows can improve the home's energy efficiency and value. ↑
• Both Replace HVAC/mechanicals — New HVAC and mechanical systems can improve the home's comfort and value. ↑
• Both Improve landscaping — New landscaping can improve the home's curb appeal and value. ↑

ⓘ 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

+79.2% since first listed

21 events — show timeline

• 2026-05-09 Contingent — MLSNOW
• 2026-05-04 Relisted — MLSNOW
• 2026-04-28 Contingent — MLSNOW
• 2026-04-09 Listed $179,000 MLSNOW
• 2021-12-28 Sold (MLS) $160,000 MLSNOW
• 2021-12-05 Pending — MLSNOW
• 2021-12-01 Listed $149,900 MLSNOW
• 2015-10-29 Sold (MLS) $75,000 MLSNOW
• 2015-10-21 Pending — MLSNOW
• 2015-09-23 Contingent — MLSNOW
• 2015-09-10 Price Changed $79,900 MLSNOW
• 2015-07-21 Listed $84,900 MLSNOW
• 2015-07-08 Listing Removed — MLSNOW
• 2015-04-08 Listed $85,000 MLSNOW
• 2015-03-17 Listing Removed — MLSNOW
• 2015-03-04 Listed $85,000 MLSNOW
• 2014-10-09 Listing Removed — MLSNOW
• 2014-03-10 Listed $86,900 MLSNOW
• 2008-09-16 Sold (MLS) $97,000 MLSNOW
• 2008-07-31 Listing Removed — MLSNOW
• 2008-03-31 Listed $99,900 MLSNOW