4677 Rock Spring Rd · Ravenna, OH 44266

$139,900

6 bd · 2.5 ba · 2,774 sqft · SingleFamily public records · 70 Days on market

Built 1910 0.96 ac lot $50/sqft · 56% below 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 +26.0/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Schools +4.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all Cash Investors!!! Looking for a rewarding spring or summer project? This charming farmhouse is ready for its next chapter and waiting for someone to restore it to its former glory! With 6 bedrooms and nearly 3,000 square feet of living space, the possibilities here are truly endless. Situated on just under an acre in the Southeast Local School District, this property offers the space and setting to bring your vision to life. The open kitchen and flexible floor plan provide a great starting point for creating your dream home, while the first floor features a full bathroom and multiple bedrooms for added convenience. Upstairs, you’ll find even more bedrooms, offering plenty of room to reimagine and customize. Outside, a 4-car detached garage with concrete flooring and electric adds incredible value—perfect for storage, hobbies, or workshop space. Priced to sell and full of potential, this is an opportunity you won’t want to miss. Bring your ideas, roll up your sleeves, and make this farmhouse shine once again!

Key facts

• Flexible floor plan
• Full bathroom
• Concrete flooring

Tags

• OPEN KITCHEN
• FLEXIBLE FLOOR PLAN
• FULL BATHROOM
• 4-CAR DETACHED GARAGE
• CONCRETE FLOORING

What this means for you Summary

Snapshot

• This is a 6-bed/2.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 3.0% in Ravenna — 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 73/100 on livability (#323 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities F, commute F, employment F.
• Southeast Local (rural): math 54% / reading 58% proficiency, ranked #334 of 656 in OH (top 51%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 159 active listings in the ZIP; 196 units permitted in Portage County in 2024 (10 in 5+ unit buildings).
• This rent runs 32% of the median local income ($65k/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 $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 26y ago; this cycle's ask has dropped $35k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $131,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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. 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.
6. 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.
7. 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: 1.24% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.67%
• DSCR: 1.47
• GRM: 6.7

CMA / ARV

• ARV (median comp): $317,201
• List price: $139,900
• Delta: -55.90%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -0.3%
• Equity multiple: 0.99×
• Total profit: $-421
• Equity at exit: $20,860

10-year hold

• IRR: 9.4%
• Equity multiple: 1.73×
• Total profit: $28,442
• Equity at exit: $12,096

Cash invested: $39,172 (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 44266

• Active inventory: 159
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,730 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$226 /mo · $2,713/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $348

Break-even live

Break-even rent $1,289

Max offer price $139,900

Occupancy floor 75%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-03
   days on market $139,900 Active 70 DOM
2. 2026-06-02
   days on market $139,900 Active 69 DOM
3. 2026-06-01
   days on market $139,900 Active 68 DOM
4. 2026-05-31
   days on market $139,900 Active 67 DOM
5. 2026-05-30
   days on market $139,900 Active 66 DOM
6. 2026-04-22
   price $139,900 1053-char remark

   Show marketing remark (1053 chars)

   Calling all Cash Investors!!! Looking for a rewarding spring or summer project? This charming farmhouse is ready for its next chapter and waiting for someone to restore it to its former glory! With 6 bedrooms and nearly 3,000 square feet of living space, the possibilities here are truly endless. Situated on just under an acre in the Southeast Local School District, this property offers the space and setting to bring your vision to life. The open kitchen and flexible floor plan provide a great starting point for creating your dream home, while the first floor features a full bathroom and multiple bedrooms for added convenience. Upstairs, you’ll find even more bedrooms, offering plenty of room to reimagine and customize. Outside, a 4-car detached garage with concrete flooring and electric adds incredible value—perfect for storage, hobbies, or workshop space. Priced to sell and full of potential, this is an opportunity you won’t want to miss. Bring your ideas, roll up your sleeves, and make this farmhouse shine once again!

7. 2026-04-13
   price $159,900 1053-char remark

   Show marketing remark (1053 chars)

   Calling all Cash Investors!!! Looking for a rewarding spring or summer project? This charming farmhouse is ready for its next chapter and waiting for someone to restore it to its former glory! With 6 bedrooms and nearly 3,000 square feet of living space, the possibilities here are truly endless. Situated on just under an acre in the Southeast Local School District, this property offers the space and setting to bring your vision to life. The open kitchen and flexible floor plan provide a great starting point for creating your dream home, while the first floor features a full bathroom and multiple bedrooms for added convenience. Upstairs, you’ll find even more bedrooms, offering plenty of room to reimagine and customize. Outside, a 4-car detached garage with concrete flooring and electric adds incredible value—perfect for storage, hobbies, or workshop space. Priced to sell and full of potential, this is an opportunity you won’t want to miss. Bring your ideas, roll up your sleeves, and make this farmhouse shine once again!

8. 2026-03-25
   listed $174,900 Active 1053-char remark

   Show marketing remark (1053 chars)

   Calling all Cash Investors!!! Looking for a rewarding spring or summer project? This charming farmhouse is ready for its next chapter and waiting for someone to restore it to its former glory! With 6 bedrooms and nearly 3,000 square feet of living space, the possibilities here are truly endless. Situated on just under an acre in the Southeast Local School District, this property offers the space and setting to bring your vision to life. The open kitchen and flexible floor plan provide a great starting point for creating your dream home, while the first floor features a full bathroom and multiple bedrooms for added convenience. Upstairs, you’ll find even more bedrooms, offering plenty of room to reimagine and customize. Outside, a 4-car detached garage with concrete flooring and electric adds incredible value—perfect for storage, hobbies, or workshop space. Priced to sell and full of potential, this is an opportunity you won’t want to miss. Bring your ideas, roll up your sleeves, and make this farmhouse shine once again!

9. 2023-08-26
   price $98,900
10. 2020-11-04
    price $98,900
11. 2020-11-04
    price $98,900
12. 2020-08-25
    price $98,900
13. 2015-03-27
    soldstatus $99,900
14. 2015-03-25
    soldstatus $99,900 Sold
15. 2015-02-19
    historical
16. 2015-01-25
    listed $99,900
17. 2014-02-12
    price $98,900
18. 2014-02-12
    price $98,900
19. 2012-07-27
    soldstatus $40,555
20. 2012-06-27
    listed $39,900
21. 2011-11-23
    historical
22. 2011-05-12
    listed $64,900
23. 2004-08-31
    soldstatus $95,400
24. 2004-08-31
    soldstatus $95,400
25. 2004-07-22
    listed $92,000
26. 2000-11-23
    historical
27. 2000-06-22
    listed $110,000
28. 1998-05-01
    soldstatus $80,000
29. 1998-03-29
    price $110,000
30. 1998-03-29
    price $110,000
31. 1998-03-29
    price $110,000
32. 1998-03-29
    price $110,000
33. 1998-03-29
    price $110,000
34. 1995-05-19
    soldstatus $75,000

ⓘ 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: $2,713 · $226/mo
• Projected year-2 tax: $2,713 · $226/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,756
• − Mortgage interest: −$7,837
• − Property taxes: −$2,713
• − Insurance: −$700
• − Repairs & maintenance: −$1,661
• − Management: −$1,661
• − Depreciation: −$4,070
• Taxable income: $2,116
• Est. tax owed @ 24.0%: −$508
• After-tax cash flow: $3,673/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: Southeast Local
• NCES district ID: 3904922
• Math proficiency: 54% ▼ -11.00%
• Reading proficiency: 58% ▼ -10.00%
• Median HH income: $58,353
• Composite: 48.55/100
• National rank: #2114
• State rank: #334 of 656 in OH

Livability — Ravenna

• Score: 73/100
• State rank: #323
• US rank: #5309

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Portage County · 70,400 people
• City population: 32,612
• Metro: Akron, OH
• Population (ZIP): 32,612
• Household income: $64,918
• Rent vs Own: 31.3% rent · 68.7% own
• Severe rent burden: 1468.0

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 (87%)
• Race & ethnicity: White 87% Black 6% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Italian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -146.76%
• Current HPI: 196.8027
• 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

+86.5% since first listed

29 events — show timeline

• 2026-04-22 Price Changed $139,900 MLSNOW
• 2026-04-13 Price Changed $159,900 MLSNOW
• 2026-03-25 Listed $174,900 MLSNOW
• 2023-08-26 Price Changed $98,900 MLSNOW
• 2020-11-04 Price Changed $98,900 MLSNOW
• 2020-11-04 Price Changed $98,900 MLSNOW
• 2020-08-25 Price Changed $98,900 MLSNOW
• 2015-03-27 Sold (Public Records) $99,900 Public Records
• 2015-03-25 Sold (MLS) $99,900 MLSNOW
• 2015-02-19 Listing Removed — MLSNOW
• 2015-01-25 Listed $99,900 MLSNOW
• 2014-02-12 Price Changed $98,900 MLSNOW
• 2014-02-12 Price Changed $98,900 MLSNOW
• 2012-07-27 Sold (MLS) $40,555 MLSNOW
• 2012-06-27 Listed $39,900 MLSNOW
• 2011-11-23 Listing Removed — MLSNOW
• 2011-05-12 Listed $64,900 MLSNOW
• 2004-08-31 Sold (Public Records) $95,400 Public Records
• 2004-08-31 Sold (MLS) $95,400 MLSNOW
• 2004-07-22 Listed $92,000 MLSNOW
• 2000-11-23 Listing Removed — MLSNOW
• 2000-06-22 Listed $110,000 MLSNOW
• 1998-05-01 Sold (Public Records) $80,000 Public Records
• 1998-03-29 Price Changed $110,000 MLSNOW
• 1998-03-29 Price Changed $110,000 MLSNOW
• 1998-03-29 Price Changed $110,000 MLSNOW
• 1998-03-29 Price Changed $110,000 MLSNOW
• 1998-03-29 Price Changed $110,000 MLSNOW
• 1995-05-19 Sold (Public Records) $75,000 Public Records

Property tax history

+13.3%/yr

Latest (2025): $2,713 · +2.4% YoY. Source: county tax records.