981 Kirkwall Dr Unit 27C · Fairlawn, OH 44321

$130,000

2 bd · 1.0 ba · 1,044 sqft · Condo · 43 Days on market

Built 1979 $319/mo HOA · 19% of rent

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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 +17.4/30.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Schools +6.8/10.0
• DSCR +5.4/10.0
• Livability +4.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Hard to find something this nice in this quaint hideaway in the Copley School district. Two nice sized bedrooms with large family room. Curl up by your fireplace or enjoy cooking in this dream kitchen with updated cabinets, granite counter tops and all appliances. Enjoy the pool, clubhouse and playground, or lounge around the scenic pond. Call today for your private showing.

Key facts

• Private fenced patio
• Clubhouse
• Scenic pond views

Tags

• MAIN-LEVEL LAUNDRY
• PRIVATE FENCED PATIO
• POOL
• CLUBHOUSE
• PLAYGROUND
• SCENIC POND VIEWS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $98 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 2.8% in Fairlawn — 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 (#11 in OH, #122 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: commute F.
• Copley-Fairlawn City (suburban): math 77% / reading 79% proficiency, ranked #58 of 656 in OH (top 9%) — strong family-tenant draw, lease renewals of 3-5y typical; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 71 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• This rent is only 17% of the median local income ($119k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $13k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $130k implies a 160% gain — meaningful room to come down on a strong offer.

Recommended offer $126,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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.
8. 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.
9. 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: 1.28% ✓
• Cap rate: 7.19%
• Cash-on-cash: 3.22%
• DSCR: 1.14
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -11.0%
• Equity multiple: 0.60×
• Total profit: $-14,621
• Equity at exit: $19,383

10-year hold

• IRR: -1.5%
• Equity multiple: 0.90×
• Total profit: $-3,819
• Equity at exit: $11,240

Cash invested: $36,400 (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 44321

• Active inventory: 71
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,665 medium
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• HOA: −$319
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $98

Break-even live

Break-even rent $1,541

Max offer price $130,000

Occupancy floor 89%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1335 Vale Dr Akron, OH	2.0–3.0	1.5–2.0	1100	$1,235	$1.12	43d	1	0.31mi

HOA detail condo

• Monthly dues: $319 · $3,828/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-04-16
   status Pending
2. 2026-03-23
   price $130,000
3. 2026-03-17
   price $134,900
4. 2026-03-08
   price $137,500
5. 2026-03-04
   listed $143,000 Active
6. 2016-02-26
   soldstatus $50,000 Sold 377-char remark

   Show marketing remark (377 chars)

   Hard to find something this nice in this quaint hideaway in the Copley School district. Two nice sized bedrooms with large family room. Curl up by your fireplace or enjoy cooking in this dream kitchen with updated cabinets, granite counter tops and all appliances. Enjoy the pool, clubhouse and playground, or lounge around the scenic pond. Call today for your private showing.

7. 2015-12-16
   status Pending 377-char remark

   Show marketing remark (377 chars)

   Hard to find something this nice in this quaint hideaway in the Copley School district. Two nice sized bedrooms with large family room. Curl up by your fireplace or enjoy cooking in this dream kitchen with updated cabinets, granite counter tops and all appliances. Enjoy the pool, clubhouse and playground, or lounge around the scenic pond. Call today for your private showing.

8. 2015-12-15
   historical 377-char remark

   Show marketing remark (377 chars)

   Hard to find something this nice in this quaint hideaway in the Copley School district. Two nice sized bedrooms with large family room. Curl up by your fireplace or enjoy cooking in this dream kitchen with updated cabinets, granite counter tops and all appliances. Enjoy the pool, clubhouse and playground, or lounge around the scenic pond. Call today for your private showing.

9. 2015-07-24
   listed $59,900 Active 377-char remark

   Show marketing remark (377 chars)

   Hard to find something this nice in this quaint hideaway in the Copley School district. Two nice sized bedrooms with large family room. Curl up by your fireplace or enjoy cooking in this dream kitchen with updated cabinets, granite counter tops and all appliances. Enjoy the pool, clubhouse and playground, or lounge around the scenic pond. Call today for your private showing.

10. 2015-07-20
    historical
11. 2015-04-23
    price $64,900
12. 2015-03-04
    listed $69,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 18 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: $19,977
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$650
• − Repairs & maintenance: −$1,598
• − Management: −$1,598
• − HOA: −$3,828
• − Depreciation: −$3,782
• Taxable loss: −$712
• Est. tax savings @ 24.0%: +$171
• After-tax cash flow: $1,343/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: Copley-Fairlawn City
• NCES district ID: 3904998
• Math proficiency: 77% ▼ -6.00%
• Reading proficiency: 79% ▼ -5.00%
• Median HH income: $66,228
• Composite: 67.55/100
• National rank: #370
• State rank: #58 of 656 in OH

Livability — Fairlawn

• Score: 89/100
• State rank: #11
• US rank: #122

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Summit County · 440,783 people
• Metro: Akron, OH
• Population (ZIP): 15,878
• Household income: $119,178
• Rent vs Own: 25.7% rent · 74.3% own
• Severe rent burden: 156.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Two or more races 9% Black 9% Asian 7% Hispanic / Latino 2%
• Common ancestry: Romanian 6% Slovak 3% Serbian 1%
• Foreign-born: 11% · China, Canada
• Languages at home: 89% English-only · Other Indo-European 3% Chinese 2% Other Asian/Pacific 2%

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: ▼ -127.90%
• Current HPI: 195.821
• 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

+86.0% since first listed

12 events — show timeline

• 2026-04-16 Pending — MLSNOW
• 2026-03-23 Price Changed $130,000 MLSNOW
• 2026-03-17 Price Changed $134,900 MLSNOW
• 2026-03-08 Price Changed $137,500 MLSNOW
• 2026-03-04 Listed $143,000 MLSNOW
• 2016-02-26 Sold (MLS) $50,000 MLSNOW
• 2015-12-16 Pending — MLSNOW
• 2015-12-15 Listing Removed — MLSNOW
• 2015-07-24 Listed $59,900 MLSNOW
• 2015-07-20 Listing Removed — MLSNOW
• 2015-04-23 Price Changed $64,900 MLSNOW
• 2015-03-04 Listed $69,900 MLSNOW