4160 State Park Dr · New Franklin, OH 44319

$399,900

4 bd · 2.0 ba · 1,740 sqft · SingleFamily public records · 23 Days on market

Built 1951 0.34 ac lot Est $545k · 27% 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 +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 +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

COME ENJOY THE PORTAGE LAKES LIFESTYLE! Whether you love boating, jet skis, sunsets on the water, or evenings around the fire with friends, this beautifully updated home is in the heart of it all. Enjoy a lake view and an unbeatable location just minutes from parks, boat ramps, restaurants, and all the fun Portage Lakes has to offer. This move-in ready home has been extensively renovated with major updates including new electrical and plumbing throughout, new central A/C, nearly all new windows, new well tank, new water softener, and more. Inside, the stylish and inviting interior features quartz countertops in the kitchen, granite countertops in all bathrooms, and beautiful porcelain tile

Key facts

• New plumbing
• Lake view
• New electrical

Tags

• LAKE VIEW
• EXTENSIVELY RENOVATED
• NEW ELECTRICAL
• NEW PLUMBING
• NEW CENTRAL A/C
• NEW WINDOWS

Property features AI

Exterior

• Parking: Detached 2-car garage with garage door opener; Driveway; Gravel parking areas
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Well water; Septic tank
• Home design: Aluminum and vinyl siding construction; Fiberglass roof; Includes a finished below-grade area (estimated)
• Construction: Aluminum siding; Vinyl siding; Fiberglass roof
• Exterior features: Back yard wood fencing; Has a view

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Bathrooms: 3 full bathrooms; 2 main-level bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Updated/remodeled condition; Has finished basement with walk-out access; Has 2 electric fireplaces
• Laundry & utility: Washer hookup; Electric dryer hookup on lower level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $6k ($75k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $400k).
• Recommended offer: $394k (1.5% below list) — sets the bar for market timing.
• Cap rate 25.0% vs local median 4.3% in New Franklin — 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 (#424 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety 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; 1 comparable units currently listed for rent nearby; 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• At $11,111/mo this rent would consume 178% 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 $3k of loan paydown is wiped out by about $12k 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 $112k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($394k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $140k; list at $400k implies a 186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $393,901 (1.5% below list)

Questions for the listing agent

1. Built in 1951 — 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. 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.
4. 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.
5. 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: 2.78% ✓
• Cap rate: 24.98%
• Cash-on-cash: 66.73%
• DSCR: 3.97
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $544,620
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4131 State Park Dr	0.07mi	3/3.0 (-1)	1,894 (+9%)	6mo	$528,000	$279	68
3873 Roller Ave	0.59mi	5/3.0 (+1)	1,650 (-5%)	11mo	$682,100	$413	46
4485 Rex Lake Dr	0.69mi	3/2.5 (-1)	1,900 (+9%)	13mo	$595,000	$313	34
3691 S Turkeyfoot Rd	0.72mi	3/2.0 (-1)	1,517 (-13%)	12mo	$273,500	$180	30

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: 66.0%
• Equity multiple: 3.96×
• Total profit: $331,786
• Equity at exit: $59,626

10-year hold

• IRR: 70.3%
• Equity multiple: 8.14×
• Total profit: $799,687
• Equity at exit: $34,576

Cash invested: $111,972 (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 44319

• Active inventory: 90
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $11,111 medium
• Mortgage (P&I): −$2,097
• Tax from tax record: −$288 /mo · $3,453/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,333
• Net cashflow: $6,226

Break-even live

Break-even rent $3,230

Max offer price $399,900

Occupancy floor 39%

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	1.14mi

Listing history 17 events

1. 2026-06-18
   days on market $399,900 Active 23 DOM
2. 2026-06-17
   days on market $399,900 Active 22 DOM
3. 2026-06-16
   days on market $399,900 Active 21 DOM
4. 2026-06-15
   days on market $399,900 Active 20 DOM
5. 2026-06-14
   days on market $399,900 Active 18 DOM
6. 2026-06-13
   days on market $399,900 Active 17 DOM
7. 2026-06-10
   days on market $399,900 Active 15 DOM
8. 2026-06-09
   days on market $399,900 Active 14 DOM
9. 2026-06-08
   days on market $399,900 Active 13 DOM
10. 2026-06-07
    days on market $399,900 Active 12 DOM
11. 2026-06-03
    days on market $399,900 Active 8 DOM
12. 2026-06-02
    days on market $399,900 Active 7 DOM
13. 2026-06-01
    days on market $399,900 Active 6 DOM
14. 2026-05-31
    days on market $399,900 Active 5 DOM
15. 2026-05-31
    days on market $399,900 Active 4 DOM
16. 2026-05-26
    listed $399,900 Active
17. 2024-05-02
    soldstatus $140,000

ⓘ 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: $3,453 · $288/mo
• Projected year-2 tax: $4,846 · $404/mo
• Expected delta: +$1,393/yr (+$116/mo · 40.3%)

ⓘ 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: $133,332
• − Mortgage interest: −$22,401
• − Property taxes: −$3,453
• − Insurance: −$2,000
• − Repairs & maintenance: −$10,667
• − Management: −$10,667
• − Depreciation: −$11,633
• Taxable income: $72,512
• Est. tax owed @ 24.0%: −$17,403
• After-tax cash flow: $57,311/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 — New Franklin

• Score: 71/100
• State rank: #424
• US rank: #6949

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Franklin, OH
• County: Summit · 539,389 people
• City population: 9,461
• 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

+185.6% since first listed

2 events — show timeline

• 2026-05-26 Listed $399,900 MLSNOW
• 2024-05-02 Sold (Public Records) $140,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $3,453 · +3.8% YoY. Source: county tax records.