2643 Monroe St · Lakemore, OH 44250

$175,000

3 bd · 1.0 ba · 876 sqft · SingleFamily public records · 134 Days on market

Built 1925 6,355 sqft lot

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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 +17.3/30.0
• ARV discount +7.5/15.0
• Appreciation +6.2/10.0
• DSCR +5.4/10.0
• 1% rule +3.9/10.0
• Schools +3.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to 2643 Monroe St, nestled in the charming Village of Lakemore within the Springfield School District. This fully renovated Bungalow-style home is a beacon of comfort and style, boasting an abundance of natural light that floods the interior. With three bedrooms and one full bath, plus an oversized 2-car garage sitting on a double lot, there's space aplenty for all your needs. Step inside and be greeted by the inviting entry, offering ample room to unwind with a cup of coffee or transform into a cozy mudroom. The main living areas on the first floor feature new LVP flooring, while plush new carpet leads you up the stairs and through the hallway into all three bedrooms. The living room exudes a spacious, open feel and seamlessly flows into the dining room and kitchen, making it perfect for both everyday living and entertaining. Access the expansive new deck from the kitchen, ideal for hosting gatherings or simply basking in the outdoors. The generously sized dining room sits conveniently between the kitchen and living room, with easy access to the first-floor bedroom/office. The kitchen itself is a culinary dream, boasting sleek grey cabinetry, granite-style Formica countertops, and an oversized single-bowl stainless steel sink. The fully updated bathroom features a stylish shower/tub, complemented by a dark navy vanity with a crisp white vanity top. Upstairs, the two bedrooms await your personal touch, offering ample space to make them your own. List of renovations (improvements & updates) available during your showing. Don't miss out on the opportunity to make this house your home. Schedule your private showing today and envision the possibilities that await you at 2643 Monroe St. A Guard Home Warranty is now being offered by the seller. New Refridgerator & Range to convey.

Key facts

• New furnace
• Remodeled kitchen
• Enclosed entry

Tags

• NEW ROOF
• NEW FURNACE
• CENTRAL AIR
• OVERSIZED TWO-CAR GARAGE
• ENCLOSED ENTRY
• REMODELED KITCHEN

Property features AI

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Public water; Public sewer
• Home design: Two-story home
• Construction: Vinyl siding; Asphalt/fiberglass roof
• Exterior features: Deck

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: One main-level bedroom; Additional bedrooms on the first and second floors
• Flooring: Carpet in basement and at least one upstairs bedroom
• Bathrooms: One full bathroom
• Heating & cooling: Forced-air gas heating; Central air conditioning; Ceiling fans
• Interior features: Full finished basement; Entry/foyer; Living room; Dining room; Blower fan-equipped electric fireplace (1)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $129 ($2k/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 $155k (11.4% below list).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#338 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, employment D, crime F.
• Springfield Local (suburban): math 40% / reading 46% proficiency, ranked #512 of 656 in OH (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 5 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (2.3% 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 (2.3% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 11y ago; this cycle's ask has dropped $18k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 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 1925 — 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. 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?
6. 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?
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 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: 0.89% ✗
• Cap rate: 7.18%
• Cash-on-cash: 3.16%
• DSCR: 1.14
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.33% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.6%
• Equity multiple: 1.47×
• Total profit: $23,113
• Equity at exit: $72,149

10-year hold

• IRR: 11.5%
• Equity multiple: 2.60×
• Total profit: $78,577
• Equity at exit: $106,350

Cash invested: $49,000 (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 44250

• Home prices YoY: 1.3%
• Active inventory: 5
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,550 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$105 /mo · $1,257/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $129

Break-even live

Break-even rent $1,387

Max offer price $175,000

Occupancy floor 87%

Sensitivity live

Price	-10% $228	-5% $179	+0% $129	+5% $80	+10% $30
Rent	-10% $7	-5% $68	+0% $129	+5% $190	+10% $252
Rate	-1.0pp $217	-0.5pp $174	base $129	+0.5pp $84	+1.0pp $38

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
931 Crestline Dr Akron, OH	3.0	1.0	976	$1,550	$1.59	14d	1	1.37mi

Listing history 2 events

1. 2026-06-15
   remarks 699-char remark
2. 2026-06-15
   listed $175,000 Pending 134 DOM

ⓘ 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: $1,257 · $105/mo
• Projected year-2 tax: $1,993 · $166/mo
• Expected delta: +$737/yr (+$61/mo · 58.6%)

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

Taxation est. · year 1

• Rental income: $18,600
• − Mortgage interest: −$9,803
• − Property taxes: −$1,257
• − Insurance: −$875
• − Repairs & maintenance: −$1,488
• − Management: −$1,488
• − Depreciation: −$5,091
• Taxable loss: −$1,401
• Est. tax savings @ 24.0%: +$336
• After-tax cash flow: $1,886/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: Springfield Local
• NCES district ID: 3905006
• Math proficiency: 40% ▼ -16.00%
• Reading proficiency: 46% ▼ -12.00%
• Median HH income: $47,669
• Composite: 36.74/100
• National rank: #4588
• State rank: #512 of 656 in OH

Livability — Lakemore

• Score: 73/100
• State rank: #338
• US rank: #5542

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakemore, OH
• City population: 30,280
• Population (ZIP): 1,604

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% Hispanic / Latino 5% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Serbian 6% Slovak 4% Scotch-Irish 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: ▲ 2.33%
• Current HPI: 186.5812
• 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

+483.3% since first listed

26 events — show timeline

• 2026-05-29 Pending — MLSNOW
• 2026-05-14 Price Changed $175,000 MLSNOW
• 2026-03-22 Price Changed $189,000 MLSNOW
• 2026-01-14 Listed $193,000 MLSNOW
• 2025-12-03 Listing Removed — MLSNOW
• 2025-10-10 Relisted — MLSNOW
• 2025-10-07 Pending — MLSNOW
• 2025-10-01 Listed $165,000 MLSNOW
• 2024-04-26 Sold (Public Records) $153,000 Public Records
• 2024-04-24 Sold (MLS) $153,000 MLSNOW
• 2024-03-17 Pending — MLSNOW
• 2024-03-13 Price Changed $159,900 MLSNOW
• 2024-03-05 Listed $173,000 MLSNOW
• 2016-11-09 Sold (MLS) $8,000 MLSNOW
• 2016-11-06 Pending — MLSNOW
• 2016-11-04 Listed $18,200 MLSNOW
• 2016-10-31 Listing Removed — MLSNOW
• 2016-07-20 Price Changed $18,200 MLSNOW
• 2016-07-01 Listed $20,200 MLSNOW
• 2016-06-30 Listing Removed — MLSNOW
• 2016-05-20 Price Changed $20,200 MLSNOW
• 2016-03-12 Price Changed $22,400 MLSNOW
• 2016-01-12 Price Changed $24,900 MLSNOW
• 2015-11-16 Price Changed $26,200 MLSNOW
• 2015-09-14 Listed $27,600 MLSNOW
• 2015-07-06 Sold (Public Records) $30,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $1,257 · +4.8% YoY. Source: county tax records.