829 Portage Lakes Dr · Portage Lakes, OH 44319

$350,000

3 bd · 1.0 ba · 1,368 sqft · SingleFamily public records · 13 Days on market

Built 1934 6,751 sqft lot $256/sqft · waterfront premium Est $314k · 11% over · waterfront

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.3/15.0
• Appreciation +0.0/10.0

Listing remarks

Wake up to shimmering water views in this beautifully renovated 3-bedroom lakefront home on Long Lake. Whether you're looking for a personal retreat, a full-time residence, or a cash-flowing investment, this property checks every box. The current owners have already invested in the major infrastructure items that typically concern buyers. The septic system, retaining wall, and driveway leading down to the house were all replaced in 2021. The sea wall, built approximately two years ago, protects the shoreline for decades to come, and brand-new steps down to the house were installed in 2025. Inside, the main living areas capture sweeping water views, and the primary suite features a private

Key facts

• Private shoreline
• Firepit
• Hot tub

Tags

• LAKEFRONT HOME
• PRIVATE SHORELINE
• DIRECT WATER ACCESS
• HOT TUB
• FIREPIT
• LAKESIDE GRILL AREA

Property features AI

Exterior

• Parking: Driveway
• Security: Security system; Smoke detectors
• Utilities: Well water; Septic tank
• Home design: 2 stories; Vinyl siding construction; Asphalt roof
• Construction: Built per assessor records; Vinyl siding; Asphalt roof
• Exterior features: Balcony; Deck; Fire pit; Outdoor grill; Privacy fencing; Lakefront lot; Lakefront view; Has spa / hot tub

Interior

• Kitchen: Range; Microwave; Dishwasher; Garbage disposal; Refrigerator; Eat-in kitchen
• Bedrooms: Two bedrooms located on the second floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (gas); Central air conditioning
• Interior features: Eat-in kitchen; Total of 6 rooms; Has a view
• Laundry & utility: Washer; Dryer; Utility room on the first floor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $2k ($30k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $350k).

Location & tenants

• Location reads 64/100 on livability (#772 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D+, amenities F, commute 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.
• Zoned schools: Coventry Elementary School (math 72% / reading 67%, grade A-, #391 of 1,584 statewide, top 27%, 461 students, 50% FRL); Coventry Middle School (math 49% / reading 66%, grade B, #302 of 654 statewide, top 46%, 479 students, 0% FRL); Coventry High School (math 37% / reading 52%, grade F, #470 of 781 statewide, top 62%, 557 students, 43% FRL).
• Market conditions: 90 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• At $6,256/mo this rent would consume 100% 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 $2k of loan paydown is wiped out by about $10k 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 $98k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 31y 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: flood insurance adds $125/mo; built in 1934 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $350,000

Questions for the listing agent

1. Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.79% ✓
• Cap rate: 15.25%
• Cash-on-cash: 31.99%
• DSCR: 2.42
• GRM: 4.7

CMA / ARV

• ARV (median comp): $313,911
• List price: $350,000
• Delta: 11.50%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
829 Portage Lakes Dr	0.00mi	3/1.0	1,368 (0%)	1mo	$365,000	$267	100
224 W Ingleside Dr	0.67mi	3/1.5	1,338 (-2%)	9mo	$200,000	$149	56
3719 Bower Ave	0.64mi	3/1.5	1,292 (-6%)	4mo	$384,000	$297	55
3078 Greenhill Rd	0.51mi	3/2.0	1,450 (+6%)	9mo	$295,000	$203	55
428 Canova Dr	0.37mi	3/2.0	1,188 (-13%)	3mo	$90,000	$76	54
3673 Ace Dr	0.53mi	3/1.5	1,482 (+8%)	9mo	$585,000	$395	52
472 Saunders Ave	0.45mi	3/2.0	1,512 (+10%)	10mo	$425,000	$281	49
3809 Powell Ave	0.71mi	3/2.0	1,472 (+8%)	2mo	$375,000	$255	49
3826 Powell Ave	0.75mi	2/2.0 (-1)	1,322 (-3%)	2mo	$248,000	$188	48
3101 Wagoner St	0.53mi	4/2.0 (+1)	1,243 (-9%)	5mo	$295,000	$237	47
3597 Ponciana Ave	0.72mi	3/2.0	1,250 (-9%)	9mo	$500,000	$400	41
3590 Ponciana Ave	0.69mi	3/1.0	1,195 (-13%)	9mo	$160,000	$134	39

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: 25.1%
• Equity multiple: 2.04×
• Total profit: $101,823
• Equity at exit: $52,186

10-year hold

• IRR: 32.9%
• Equity multiple: 3.99×
• Total profit: $293,133
• Equity at exit: $30,262

Cash invested: $98,000 (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: 4.7×

Monthly cashflow live

• Estimated rent: $6,256 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$348 /mo · $4,181/yr
• Insurance: −$146
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,314
• Net cashflow: $2,487

Break-even live

Break-even rent $3,107

Max offer price $350,000

Occupancy floor 55%

Sensitivity live

Price	-10% $2,685	-5% $2,586	+0% $2,487	+5% $2,388	+10% $2,289
Rent	-10% $1,993	-5% $2,240	+0% $2,487	+5% $2,734	+10% $2,982
Rate	-1.0pp $2,664	-0.5pp $2,576	base $2,487	+0.5pp $2,397	+1.0pp $2,304

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
829 Portage Lakes Dr Unit 1496076P Akron, OH	3.0	1.0	1356	$7,700	$5.68	16d	1	0.03mi
686 Portage Lakes Dr Coventry Township, OH	2.0	1.0	882	$1,695	$1.92	25d	1	0.27mi
234 Mallard Point Dr Akron, OH	1.0–2.0	1.0–2.0	945	$1,530	$1.62	16d	18	0.97mi

Listing history 9 events

1. 2026-05-07
   status Pending 1184-char remark
2. 2026-04-24
   listed $350,000 Active 1184-char remark
3. 2021-01-28
   soldstatus $99,000 Closed
4. 2021-01-25
   soldstatus $99,000
5. 2020-12-22
   listed $99,000 Active
6. 1998-05-22
   historical
7. 1997-11-22
   listed $89,900
8. 1996-04-14
   historical
9. 1995-03-20
   listed $89,900

ⓘ 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: $4,181 · $348/mo
• Projected year-2 tax: $4,821 · $402/mo
• Expected delta: +$639/yr (+$53/mo · 15.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone A · 99% 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $75,073
• − Mortgage interest: −$19,605
• − Property taxes: −$4,181
• − Insurance: −$3,252
• − Repairs & maintenance: −$6,006
• − Management: −$6,006
• − Depreciation: −$10,182
• Taxable income: $25,840
• Est. tax owed @ 24.0%: −$6,202
• After-tax cash flow: $23,647/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 — Portage Lakes

• Score: 64/100
• State rank: #772
• US rank: #14032

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portage Lakes, OH
• County: Summit · 539,389 people
• 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

+306.0% since first listed

10 events — show timeline

• 2026-06-04 Sold (MLS) $365,000 MLSNOW
• 2026-05-07 Pending — MLSNOW
• 2026-04-24 Listed $350,000 MLSNOW
• 2021-01-28 Sold (MLS) $99,000 MLSNOW
• 2021-01-25 Sold (Public Records) $99,000 Public Records
• 2020-12-22 Listed $99,000 MLSNOW
• 1998-05-22 Listing Removed — MLSNOW
• 1997-11-22 Listed $89,900 MLSNOW
• 1996-04-14 Listing Removed — MLSNOW
• 1995-03-20 Listed $89,900 MLSNOW

Property tax history

+7.9%/yr

Latest (2025): $4,181 · +3.5% YoY. Source: county tax records.