450 Allyn St · Akron, OH 44304

$254,000

6 bd · 2.0 ba · 2,226 sqft · MultiFamily public records · 142 Days on market

Built 1889 7,792 sqft lot $114/sqft · 65% above area

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Why this score? — see what drove the C- 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 +18.0/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• Appreciation +5.4/10.0
• 1% rule +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

HIGH DEMAND LOCATION! Just steps from the University of Akron. This turnkey two-unit home collects $1100/mo per unit and all utilities when fully occupied. One of the two units is occupied. Each unit has 3 bedrooms, 1 bath and has its own in unit laundry. All mechanicals have been redone. Water heater and carpeting replaced in 2023. First floor unit has added luxury vinyl in the kitchen and bath in 2023. Large parking area behind the building.

Key facts

• Added luxury vinyl
• In unit laundry
• Carpeting replaced

Tags

• FULLY TENANT OCCUPIED
• IN UNIT LAUNDRY
• MECHANICALS HAVE BEEN REDONE
• WATER HEATER REPLACED
• CARPETING REPLACED
• ADDED LUXURY VINYL

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $254k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $237k (6.7% below list).
• Recommended offer: $224k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 81/100 on livability (#104 in OH, #1,591 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Akron City (urban): math 22% / reading 30% proficiency, ranked #602 of 656 in OH (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Leggett Community Learning Center (math 17% / reading 22%, grade F, #1,293 of 1,584 statewide, top 83%, 371 students, 0% FRL); Jennings Community Learning Center (math 12% / reading 18%, grade F, #627 of 654 statewide, top 96%, 757 students, 0% FRL); North High School (math 2% / reading 15%, grade F, #755 of 781 statewide, top 97%, 916 students, 0% FRL) — zoned schools average 0% FRL vs 66% district-wide (66 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 17 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• At $2,369/mo this rent would consume 68% of the median local household income ($42k/yr) (locally 349% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $4k of equity ($2k loan paydown + $2k appreciation (0.8% local appreciation)).
• Summit County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (0.8% appreciation + 3.0% rent growth), your $71k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($224k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago; this cycle's ask is 21987% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1889 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $223,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1889 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.93% ✗
• Cap rate: 7.33%
• Cash-on-cash: 3.70%
• DSCR: 1.16
• GRM: 8.9

CMA / ARV

• ARV (median comp): $154,138
• List price: $254,000
• Delta: 64.79%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
235 Wheeler St	0.04mi	6/3.0	2,144 (-4%)	14mo	$210,000	$98	76
380-382 Cross St	0.22mi	6/2.0	2,419 (+9%)	8mo	$149,000	$62	69
429 Lovisa St	0.40mi	6/3.0	2,314 (+4%)	2mo	$170,000	$73	68
778-780 Brown St	0.70mi	6/2.0	2,240 (+1%)	2mo	$140,000	$63	64
656 Kling St	0.42mi	5/2.0 (-1)	2,251 (+1%)	16mo	$156,500	$70	60
457 Sherman St	0.14mi	6/2.0	1,936 (-13%)	16mo	$125,000	$65	58
593 Brown St	0.39mi	6/3.0	2,082 (-6%)	21mo	$114,000	$55	50
397 Spicer St	0.36mi	5/4.0 (-1)	2,468 (+11%)	3mo	$130,000	$53	49

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

Projected returns pro-forma

0.75% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.4%
• Equity multiple: 1.22×
• Total profit: $15,586
• Equity at exit: $83,415

10-year hold

• IRR: 9.0%
• Equity multiple: 2.06×
• Total profit: $75,361
• Equity at exit: $108,345

Cash invested: $71,120 (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 44304

• Home prices YoY: 0.4%
• Active inventory: 17
• Price-to-rent: 17.9×

Monthly cashflow live

• Estimated rent: $2,369 high
• Mortgage (P&I): −$1,332
• Tax from tax record: −$214 /mo · $2,573/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $219

Break-even live

Break-even rent $2,092

Max offer price $254,000

Occupancy floor 86%

Sensitivity live

Price	-10% $363	-5% $291	+0% $219	+5% $147	+10% $75
Rent	-10% $32	-5% $126	+0% $219	+5% $313	+10% $406
Rate	-1.0pp $347	-0.5pp $284	base $219	+0.5pp $153	+1.0pp $86

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,370
Total (2 units)			$2,369

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: $63,500
• Closing costs: $7,620
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
497 Sumner St Akron, OH	5.0	2.0	1776	$1,295	$0.73	45d	1	0.03mi
768 Beardsley St Akron, OH	5.0	1.5	1714	$1,500	$0.88	16d	1	0.60mi
949 Raymond St Akron, OH	5.0	1.0	1564	$1,150	$0.74	45d	1	1.41mi

Listing history 33 events

1. 2026-06-21
   days on market $254,000 Active 142 DOM
2. 2026-06-18
   days on market $254,000 Active 139 DOM
3. 2026-06-17
   days on market $254,000 Active 138 DOM
4. 2026-06-16
   days on market $254,000 Active 137 DOM
5. 2026-06-15
   days on market $254,000 Active 136 DOM
6. 2026-06-14
   days on market $254,000 Active 134 DOM
7. 2026-06-13
   days on market $254,000 Active 133 DOM
8. 2026-06-10
   days on market $254,000 Active 131 DOM
9. 2026-06-09
   days on market $254,000 Active 130 DOM
10. 2026-06-08
    days on market $254,000 Active 129 DOM
11. 2026-06-07
    days on market $254,000 Active 128 DOM
12. 2026-06-05
    days on market $254,000 Active 125 DOM
13. 2026-06-03
    days on market $254,000 Active 124 DOM
14. 2026-06-02
    days on market $254,000 Active 123 DOM
15. 2026-06-01
    days on market $254,000 Active 122 DOM
16. 2026-05-31
    days on market $254,000 Active 121 DOM
17. 2026-05-31
    days on market $254,000 Active 120 DOM
18. 2026-05-06
    listed $1,150
19. 2026-01-28
    listed $254,000 Active 447-char remark

    Show marketing remark (447 chars)

    HIGH DEMAND LOCATION! Just steps from the University of Akron. This turnkey two-unit home collects $1100/mo per unit and all utilities when fully occupied. One of the two units is occupied. Each unit has 3 bedrooms, 1 bath and has its own in unit laundry. All mechanicals have been redone. Water heater and carpeting replaced in 2023. First floor unit has added luxury vinyl in the kitchen and bath in 2023. Large parking area behind the building.

20. 2025-04-25
    historical $1,000
21. 2025-04-15
    price $1,000
22. 2025-04-06
    listed $1,250
23. 2024-05-22
    soldstatus $235,000 Closed 671-char remark

    Show marketing remark (671 chars)

    Location, Location, Location! This multi-unit comprises of (Two) 3 Bedroom apartments located on one of the hottest streets by The University of Akron; only 1 block away from campus! Each unit is currently leased through August of 2025 at a rate of $1,200 per unit; $28,800 annually! All mechanical systems have been redone, the carpet is less than a year old, the water heater was replaced in 2023, solid oak doors were installed, and Luxury Vinyl Plank was put down in the 1st floor apartment in the kitchen and bathroom in 2023. There is plenty of parking in the large lot behind the building. There is nothing to do on this turnkey money machine but collect the rent!

24. 2024-04-04
    status Pending 671-char remark

    Show marketing remark (671 chars)

    Location, Location, Location! This multi-unit comprises of (Two) 3 Bedroom apartments located on one of the hottest streets by The University of Akron; only 1 block away from campus! Each unit is currently leased through August of 2025 at a rate of $1,200 per unit; $28,800 annually! All mechanical systems have been redone, the carpet is less than a year old, the water heater was replaced in 2023, solid oak doors were installed, and Luxury Vinyl Plank was put down in the 1st floor apartment in the kitchen and bathroom in 2023. There is plenty of parking in the large lot behind the building. There is nothing to do on this turnkey money machine but collect the rent!

25. 2024-04-03
    historical 671-char remark

    Show marketing remark (671 chars)

    Location, Location, Location! This multi-unit comprises of (Two) 3 Bedroom apartments located on one of the hottest streets by The University of Akron; only 1 block away from campus! Each unit is currently leased through August of 2025 at a rate of $1,200 per unit; $28,800 annually! All mechanical systems have been redone, the carpet is less than a year old, the water heater was replaced in 2023, solid oak doors were installed, and Luxury Vinyl Plank was put down in the 1st floor apartment in the kitchen and bathroom in 2023. There is plenty of parking in the large lot behind the building. There is nothing to do on this turnkey money machine but collect the rent!

26. 2024-04-02
    historical Contingent 671-char remark

    Show marketing remark (671 chars)

    Location, Location, Location! This multi-unit comprises of (Two) 3 Bedroom apartments located on one of the hottest streets by The University of Akron; only 1 block away from campus! Each unit is currently leased through August of 2025 at a rate of $1,200 per unit; $28,800 annually! All mechanical systems have been redone, the carpet is less than a year old, the water heater was replaced in 2023, solid oak doors were installed, and Luxury Vinyl Plank was put down in the 1st floor apartment in the kitchen and bathroom in 2023. There is plenty of parking in the large lot behind the building. There is nothing to do on this turnkey money machine but collect the rent!

27. 2024-02-26
    price $244,900 671-char remark

    Show marketing remark (671 chars)

    Location, Location, Location! This multi-unit comprises of (Two) 3 Bedroom apartments located on one of the hottest streets by The University of Akron; only 1 block away from campus! Each unit is currently leased through August of 2025 at a rate of $1,200 per unit; $28,800 annually! All mechanical systems have been redone, the carpet is less than a year old, the water heater was replaced in 2023, solid oak doors were installed, and Luxury Vinyl Plank was put down in the 1st floor apartment in the kitchen and bathroom in 2023. There is plenty of parking in the large lot behind the building. There is nothing to do on this turnkey money machine but collect the rent!

28. 2024-02-07
    listed $254,900 Active 671-char remark

    Show marketing remark (671 chars)

    Location, Location, Location! This multi-unit comprises of (Two) 3 Bedroom apartments located on one of the hottest streets by The University of Akron; only 1 block away from campus! Each unit is currently leased through August of 2025 at a rate of $1,200 per unit; $28,800 annually! All mechanical systems have been redone, the carpet is less than a year old, the water heater was replaced in 2023, solid oak doors were installed, and Luxury Vinyl Plank was put down in the 1st floor apartment in the kitchen and bathroom in 2023. There is plenty of parking in the large lot behind the building. There is nothing to do on this turnkey money machine but collect the rent!

29. 2022-11-21
    soldstatus $135,000
30. 2022-10-19
    historical
31. 2022-07-12
    status Active
32. 2022-06-25
    status Pending
33. 2022-06-17
    listed $150,000 Active

ⓘ 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: $2,573 · $214/mo
• Projected year-2 tax: $3,268 · $272/mo
• Expected delta: +$694/yr (+$58/mo · 27.0%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,428
• − Mortgage interest: −$14,228
• − Property taxes: −$2,573
• − Insurance: −$1,270
• − Repairs & maintenance: −$2,274
• − Management: −$2,274
• − Depreciation: −$7,389
• Taxable loss: −$1,581
• Est. tax savings @ 24.0%: +$379
• After-tax cash flow: $3,010/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: Akron City
• NCES district ID: 3904348
• Math proficiency: 22% ▼ -17.00%
• Reading proficiency: 30% ▼ -12.00%
• Median HH income: $33,811
• Composite: 21.31/100
• National rank: #8383
• State rank: #602 of 656 in OH

Livability — Akron

• Score: 81/100
• State rank: #104
• US rank: #1591

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Akron, OH
• County: Summit County · 440,783 people
• City population: 174,375
• Metro: Akron, OH
• Population (ZIP): 4,000
• Household income: $41,763
• Rent vs Own: 92.5% rent · 7.5% own
• Severe rent burden: 349.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 55% Black 27% Asian 8% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Romanian 3% Russian 2% Subsaharan African 1%
• Foreign-born: 13% · China, Canada, Jamaica
• Languages at home: 84% English-only · Other Indo-European 5% Chinese 4% Spanish 3%

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: ▲ 0.75%
• Current HPI: 182.661
• Rent YoY: —
• 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

-99.2% since first listed

16 events — show timeline

• 2026-05-06 Listed for Rent $1,150 YESMLS
• 2026-01-28 Listed $254,000 MLSNOW
• 2025-04-25 Rental Removed $1,000 RENTALBEAST
• 2025-04-15 Price Changed $1,000 RENTALBEAST
• 2025-04-06 Listed for Rent $1,250 RENTALBEAST
• 2024-05-22 Sold (MLS) $235,000 MLSNOW
• 2024-04-04 Pending — MLSNOW
• 2024-04-03 Listing Removed — MLSNOW
• 2024-04-02 Contingent — MLSNOW
• 2024-02-26 Price Changed $244,900 MLSNOW
• 2024-02-07 Listed $254,900 MLSNOW
• 2022-11-21 Sold (Public Records) $135,000 Public Records
• 2022-10-19 Listing Removed — MLSNOW
• 2022-07-12 Relisted — MLSNOW
• 2022-06-25 Pending — MLSNOW
• 2022-06-17 Listed $150,000 MLSNOW

Property tax history

+5.4%/yr

Latest (2025): $2,573 · -3.7% YoY. Source: county tax records.