209 Dodge St · Kent, OH 44240

$215,000

3 bd · 1.0 ba · 992 sqft · SingleFamily public records · 98 Days on market

Built 1910 9,178 sqft lot $217/sqft · 115% above area Est $212k · at est.

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Why this score? — see what drove the D- 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 +9.9/30.0
• ARV discount +6.8/15.0
• Livability +4.5/5.0
• Schools +4.3/10.0
• Rent growth +4.2/5.0
• DSCR +2.8/10.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Live in One, Let the Other Pay the Mortgage – Less Than a Mile from Kent State! Here’s your chance to own a flexible property just under one mile from Kent State University and turn homeownership into an income strategy. The main home offers 3 bedrooms, including two on the main level and a spacious upper suite with its own half bath and extra storage — perfect for privacy, a home office, or primary retreat. The kitchen features updated oak cabinetry and includes all appliances (refrigerator, stove, dishwasher), with a convenient mudroom/laundry area nearby. The lower level provides abundant storage along with an updated furnace and electrical system for added peace of mind. What makes this property truly special is the second home — previously operated as a midterm rental. This charming 2-bedroom space includes a walk-in closet, updated kitchen and baths, and its own ensuite laundry. The inviting front porch creates a private, welcoming atmosphere for guests or tenants. Live comfortably in the main house while generating income from the second — or explore long-term rental, short-term rental, or multi-generational living options. Additional features include a full two-car garage and an extra storage building for added flexibility. All of this within minutes of Kent State’s campus, restaurants, shopping, and the vibrant energy of a thriving college town. Smart. Strategic. Income-producing. Your opportunity to build equity while someone else helps pay the mortgage

Key facts

• Inviting front porch
• Updated kitchen
• Updated furnace

Tags

• UPDATED OAK CABINETRY
• ABUNDANT STORAGE
• UPDATED FURNACE
• UPDATED KITCHEN
• ENSUITE LAUNDRY
• INVITING FRONT PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-134 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $191k (11.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (25.4% below list).
• Recommended offer: $160k (25.4% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 4.1% in Kent — 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 89/100 on livability (#13 in OH, #129 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment F.
• Kent City (suburban): math 46% / reading 58% proficiency, ranked #433 of 656 in OH (top 66%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+6.8%/yr); 139 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 196 units permitted in Portage County in 2024 (10 in 5+ unit buildings).
• This rent runs 33% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 30y ago; this cycle's ask has dropped $35k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $89k; list at $215k implies a 142% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,295 (25.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.75% ✗
• Cap rate: 5.55%
• Cash-on-cash: -2.67%
• DSCR: 0.88
• GRM: 11.2

CMA / ARV

• ARV (median comp): $211,691
• List price: $215,000
• Delta: 1.56%
• Verdict: FAIR
• Comps: 14 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
138 E School	0.22mi	2/1.0 (-1)	960 (-3%)	9mo	$139,900	$146	72
320 Harris St	0.17mi	2/1.0 (-1)	918 (-8%)	6mo	$147,000	$160	70
207 S Mantua St	0.59mi	3/1.5	1,036 (+4%)	11mo	$145,000	$140	54

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 · 6.8% rent growth · sell at horizon

5-year hold

• IRR: -16.8%
• Equity multiple: 0.39×
• Total profit: $-37,022
• Equity at exit: $32,057

10-year hold

• IRR: -3.2%
• Equity multiple: 0.75×
• Total profit: $-15,084
• Equity at exit: $18,589

Cash invested: $60,200 (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 44240

• Rents YoY: 6.8%
• Active inventory: 139
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,603 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$183 /mo · $2,196/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $-134

Break-even live

Break-even rent $1,772

Max offer price $191,379

Occupancy floor —

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
213 Dodge St Unit 1 Kent, OH	3.0	1.0	1100	$1,400	$1.27	43d	1	0.02mi
956 1/2 S Lincoln St Kent, OH	2.0	1.5	780	$1,400	$1.79	43d	1	0.49mi
705 S Lincoln St Kent, OH	2.0	1.0	576	$1,325	$2.30	14d	26	0.55mi
1204 Middlebury Rd Kent, OH	3.0	2.0	1120	$1,900	$1.70	13d	1	1.26mi
1800 Rhodes Rd Kent, OH	2.0	1.0–2.0	620	$1,325	$2.14	13d	1	1.45mi
1245 Overbrook Rd Kent, OH	2.0	1.0	910	$1,095	$1.20	14d	1	1.46mi
471 Brentwood Ave Kent, OH	2.0	1.0	1000	$1,145	$1.15	13d	1	1.46mi
1002 Lake St Kent, OH	1.0–2.0	1.0	632	$975	$1.54	14d	1	1.48mi

Listing history 9 events

1. 2026-03-24
   price $215,000 1523-char remark

   Show marketing remark (1523 chars)

   Live in One, Let the Other Pay the Mortgage – Less Than a Mile from Kent State! Here’s your chance to own a flexible property just under one mile from Kent State University and turn homeownership into an income strategy. The main home offers 3 bedrooms, including two on the main level and a spacious upper suite with its own half bath and extra storage — perfect for privacy, a home office, or primary retreat. The kitchen features updated oak cabinetry and includes all appliances (refrigerator, stove, dishwasher), with a convenient mudroom/laundry area nearby. The lower level provides abundant storage along with an updated furnace and electrical system for added peace of mind. What makes this property truly special is the second home — previously operated as a midterm rental. This charming 2-bedroom space includes a walk-in closet, updated kitchen and baths, and its own ensuite laundry. The inviting front porch creates a private, welcoming atmosphere for guests or tenants. Live comfortably in the main house while generating income from the second — or explore long-term rental, short-term rental, or multi-generational living options. Additional features include a full two-car garage and an extra storage building for added flexibility. All of this within minutes of Kent State’s campus, restaurants, shopping, and the vibrant energy of a thriving college town. Smart. Strategic. Income-producing. Your opportunity to build equity while someone else helps pay the mortgage

2. 2026-02-13
   listed $250,000 Active 1523-char remark

   Show marketing remark (1523 chars)

   Live in One, Let the Other Pay the Mortgage – Less Than a Mile from Kent State! Here’s your chance to own a flexible property just under one mile from Kent State University and turn homeownership into an income strategy. The main home offers 3 bedrooms, including two on the main level and a spacious upper suite with its own half bath and extra storage — perfect for privacy, a home office, or primary retreat. The kitchen features updated oak cabinetry and includes all appliances (refrigerator, stove, dishwasher), with a convenient mudroom/laundry area nearby. The lower level provides abundant storage along with an updated furnace and electrical system for added peace of mind. What makes this property truly special is the second home — previously operated as a midterm rental. This charming 2-bedroom space includes a walk-in closet, updated kitchen and baths, and its own ensuite laundry. The inviting front porch creates a private, welcoming atmosphere for guests or tenants. Live comfortably in the main house while generating income from the second — or explore long-term rental, short-term rental, or multi-generational living options. Additional features include a full two-car garage and an extra storage building for added flexibility. All of this within minutes of Kent State’s campus, restaurants, shopping, and the vibrant energy of a thriving college town. Smart. Strategic. Income-producing. Your opportunity to build equity while someone else helps pay the mortgage

3. 2017-04-28
   soldstatus $89,000
4. 2011-09-21
   historical
5. 2011-09-21
   historical
6. 2010-08-17
   listed $123,500
7. 2010-08-17
   listed $123,500
8. 1996-10-25
   soldstatus $78,000
9. 1996-08-20
   listed $79,500

ⓘ 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: $2,196 · $183/mo
• Projected year-2 tax: $2,775 · $231/mo
• Expected delta: +$579/yr (+$48/mo · 26.4%)

ⓘ 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 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,235
• − Mortgage interest: −$12,043
• − Property taxes: −$2,196
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,539
• − Management: −$1,539
• − Depreciation: −$6,255
• Taxable loss: −$5,411
• Est. tax savings @ 24.0%: +$1,299
• After-tax cash flow: $-306/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: Kent City
• NCES district ID: 3904416
• Math proficiency: 46% ▼ -23.00%
• Reading proficiency: 58% ▼ -15.00%
• Median HH income: $36,095
• Composite: 43.07/100
• National rank: #3092
• State rank: #433 of 656 in OH

Livability — Kent

• Score: 89/100
• State rank: #13
• US rank: #129

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kent, OH
• County: Portage County · 70,400 people
• City population: 37,788
• Metro: Akron, OH
• Population (ZIP): 37,788
• Household income: $57,627
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 2634.0

Population outlook (Portage County) Hauer SSP2

• Today (2025): 166,109 people
• By 2030: 167,752 · +1.0%
• By 2040: 168,640 · +1.5%
• By 2050: 167,469 · +0.8%
• By 2075: 170,131 · +2.4%
• By 2100: 167,958 · +1.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 6% Black 6% Asian 4% Hispanic / Latino 3%
• Common ancestry: Romanian 7% Slovak 2% Italian 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 92% English-only · Other Indo-European 2% Arabic 2% Other Asian/Pacific 1%

Political lean MEDSL · Portage

• 2024 margin: R (+15.5) · D 41.8% · R 57.3%
• 2008→2024 swing: -24.5pp toward R · 2008: 9.0pp · 2024: -15.5pp
• All cycles: 2024: R+15.5 2020: R+12.5 2016: R+10.2 2012: D+4.9 2008: D+9.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -162.04%
• Current HPI: 189.3174
• Rent YoY: ▲ 6.80%
• Metro: Akron, OH
• 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

+170.4% since first listed

9 events — show timeline

• 2026-03-24 Price Changed $215,000 MLSNOW
• 2026-02-13 Listed $250,000 MLSNOW
• 2017-04-28 Sold (Public Records) $89,000 Public Records
• 2011-09-21 Listing Removed — MLSNOW
• 2011-09-21 Listing Removed — MLSNOW
• 2010-08-17 Listed $123,500 MLSNOW
• 2010-08-17 Listed $123,500 MLSNOW
• 1996-10-25 Sold (Public Records) $78,000 Public Records
• 1996-08-20 Listed $79,500 MLSNOW

Property tax history

+1.4%/yr

Latest (2025): $2,196 · -2.3% YoY. Source: county tax records.