15562 Portage St · Norton, OH 44230

$174,900

3 bd · 1.0 ba · 1,324 sqft · SingleFamily public records · 9 Days on market

Built 1927 0.27 ac lot $132/sqft · 23% below area Est $229k · 23% under

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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 +23.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• Schools +6.3/10.0
• 1% rule +5.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

New updates and a fresh start for Spring! A stove, refrigerator, and freshly painted basement have been added alongside existing improvements including a metal roof (2018), hot water tank (2025), and furnace with ductwork to the 2nd floor (2025). Inside, you'll appreciate the convenience of a first-floor bedroom, perfect for flexible living or accessibility, and while the home has been updated throughout, it still offers a blank canvas to make it your own. As a bonus, the location qualifies for USDA financing, which means $0 down payment options and the possibility of a lower interest rate for qualified buyers. Enjoy the peace of a rural location while staying just minutes from town and mai

Key facts

• Hot water tank
• First-floor bedroom
• Metal roof

Tags

• METAL ROOF
• HOT WATER TANK
• FURNACE WITH DUCTWORK
• FIRST-FLOOR BEDROOM
• RURAL LOCATION

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Well water; Septic tank
• Home design: 2-story home; Block foundation
• Construction: Built (per public records); Metal roof; Vinyl siding
• Exterior features: Back yard fencing; Southeast-facing

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: 1 main-level bedroom
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced-air gas heating
• Interior features: Double-pane windows; Partial unfinished basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Cap rate 8.5% vs local median 3.2% in Norton — 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 80/100 on livability (#118 in OH, #1,738 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Chippewa Local (suburban): math 71% / reading 76% proficiency, ranked #116 of 656 in OH (top 18%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 30 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 284 units permitted in Wayne County in 2024 (42 in 5+ unit buildings).

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.
• Wayne County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 32y 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.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $174,900

Questions for the listing agent

1. Built in 1927 — 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. 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?
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: 1.03% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.89%
• DSCR: 1.35
• GRM: 8.1

CMA / ARV

• ARV (median comp): $228,543
• List price: $174,900
• Delta: -23.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4334 Eastern Rd	0.50mi	4/3.0 (+1)	1,326 (+0%)	22mo	$280,000	$211	45
15091 Portage St #44	0.64mi	3/2.0	1,394 (+5%)	15mo	$52,000	$37	45
3706 Eastern Rd	0.69mi	2/1.0 (-1)	1,293 (-2%)	18mo	$184,900	$143	44

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: -4.3%
• Equity multiple: 0.84×
• Total profit: $-7,877
• Equity at exit: $26,078

10-year hold

• IRR: 5.4%
• Equity multiple: 1.40×
• Total profit: $19,382
• Equity at exit: $15,122

Cash invested: $48,972 (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 44230

• Home prices YoY: -24.7%
• Active inventory: 30
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$110 /mo · $1,320/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $322

Break-even live

Break-even rent $1,392

Max offer price $174,900

Occupancy floor 77%

Sensitivity live

Price	-10% $421	-5% $371	+0% $322	+5% $272	+10% $223
Rent	-10% $180	-5% $251	+0% $322	+5% $393	+10% $464
Rate	-1.0pp $410	-0.5pp $366	base $322	+0.5pp $277	+1.0pp $231

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
255 Taylor Rd Barberton, OH	3.0	2.0	1706	$1,800	$1.06	15d	1	1.22mi

Listing history 19 events

1. 2026-05-08
   status Pending 763-char remark
2. 2026-04-29
   listed $174,900 Active 763-char remark
3. 2026-02-04
   historical $1,550
4. 2025-12-05
   historical
5. 2025-10-26
   listed $174,900 Active
6. 2025-10-09
   listed $1,550
7. 2025-09-15
   historical
8. 2025-08-16
   price $174,900
9. 2025-08-06
   listed $184,900 Active
10. 2012-07-23
    historical
11. 2011-09-23
    listed $34,000
12. 2008-09-28
    historical
13. 2008-06-27
    soldstatus $60,000
14. 2008-06-26
    soldstatus $60,000
15. 2007-10-25
    listed $59,000
16. 2007-09-29
    listed $139,900
17. 1995-04-26
    soldstatus $56,111
18. 1995-02-09
    historical
19. 1994-11-08
    listed $57,500

ⓘ 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: $1,320 · $110/mo
• Projected year-2 tax: $2,024 · $169/mo
• Expected delta: +$704/yr (+$59/mo · 53.4%)

ⓘ 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 ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,600
• − Mortgage interest: −$9,797
• − Property taxes: −$1,320
• − Insurance: −$874
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$5,088
• Taxable income: $1,064
• Est. tax owed @ 24.0%: −$255
• After-tax cash flow: $3,608/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: Chippewa Local
• NCES district ID: 3905053
• Math proficiency: 71% ▼ -9.00%
• Reading proficiency: 76% ▼ -4.00%
• Median HH income: $55,979
• Composite: 62.83/100
• National rank: #664
• State rank: #116 of 656 in OH

Livability — Norton

• Score: 80/100
• State rank: #118
• US rank: #1738

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Wayne · 117,095 people
• City population: 38,705
• Population (ZIP): 8,225
• Household income: $74,429
• Rent vs Own: 14.8% rent · 85.2% own
• Severe rent burden: 10.3

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 116,616 people
• By 2030: 116,214 · -0.3%
• By 2040: 113,891 · -2.3%
• By 2050: 109,009 · -6.5%
• By 2075: 94,622 · -18.9%
• By 2100: 70,577 · -39.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Asian 6% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Lithuanian 4% Slovak 2% Romanian 2%
• Foreign-born: 6% · India, Canada
• Languages at home: 94% English-only · Other Indo-European 6%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+39.3) · D 29.9% · R 69.2%
• 2008→2024 swing: -24.6pp toward R · 2008: -14.6pp · 2024: -39.3pp
• All cycles: 2024: R+39.3 2020: R+37.0 2016: R+34.9 2012: R+21.3 2008: R+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.51%
• Current HPI: 227.4815
• 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

+204.3% since first listed

20 events — show timeline

• 2026-06-18 Sold (MLS) $175,000 MLSNOW
• 2026-05-08 Pending — MLSNOW
• 2026-04-29 Listed $174,900 MLSNOW
• 2026-02-04 Rental Removed $1,550 REDFIN
• 2025-12-05 Listing Removed — MLSNOW
• 2025-10-26 Listed $174,900 MLSNOW
• 2025-10-09 Listed for Rent $1,550 REDFIN
• 2025-09-15 Listing Removed — MLSNOW
• 2025-08-16 Price Changed $174,900 MLSNOW
• 2025-08-06 Listed $184,900 MLSNOW
• 2012-07-23 Listing Removed — MLSNOW
• 2011-09-23 Listed $34,000 MLSNOW
• 2008-09-28 Listing Removed — MLSNOW
• 2008-06-27 Sold (Public Records) $60,000 Public Records
• 2008-06-26 Sold (MLS) $60,000 MLSNOW
• 2007-10-25 Listed $59,000 MLSNOW
• 2007-09-29 Listed $139,900 MLSNOW
• 1995-04-26 Sold (Public Records) $56,111 Public Records
• 1995-02-09 Listing Removed — MLSNOW
• 1994-11-08 Listed $57,500 MLSNOW

Property tax history

+5.8%/yr

Latest (2025): $1,320 · +7.1% YoY. Source: county tax records.