535 Gage St · Akron, OH 44311

$112,750

4 bd · 2.0 ba · 1,728 sqft · MultiFamily public records · 22 Days on market

Built 1919 3,524 sqft lot $65/sqft · 13% below area Est $130k · 13% under

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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
• ARV discount +13.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Investment opportunity to own six units all centralized around a common parking lot within walking distance to the University of Akron. The portfolio consists of 2 SFR homes, 4 duplexes and 2 residential lots. The addresses are 529-543 Gage St. 535 Gage St is a duplex that is tenant occupied. Their leases are through 7/31/26 and 11/30/26 with a combined monthly rent of $1520. Tenants are responsible for all utilities. Electric, gas, and water/sewer are all separately metered. Owner is responsible for the community monthly charges for yard care ($120) and trash ($147.45). Please do not disturb tenants. Photos are of the downstair's unit prior to tenant possession.

Key facts

• 3,524 sq ft lot
• Built 1919
• Listed 22 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $113k.

Deal economics

• At list price, monthly cash flow is $702 ($8k/yr) — positive. Per door: $351/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $113k).
• Recommended offer: $111k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.4% vs local median 6.6% in Akron — 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 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.
• Market conditions: 54 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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 $1,993/mo this rent would consume 98% of the median local household income ($24k/yr) (locally 659% of renters already pay >50% of income on rent) — 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 $780 of loan paydown is wiped out by about $3k 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 $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y 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.
• Current owner paid $85k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,058 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.77% ✓
• Cap rate: 14.35%
• Cash-on-cash: 28.79%
• DSCR: 2.28
• GRM: 4.7

CMA / ARV

• ARV (median comp): $129,783
• List price: $112,750
• Delta: -13.12%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
403 Spicer St	0.11mi	4/2.0	1,595 (-8%)	3mo	$125,000	$78	80
523 Gage St	0.04mi	5/2.0 (+1)	1,795 (+4%)	9mo	$148,000	$82	79
399 Crouse St	0.22mi	4/2.0	1,575 (-9%)	3mo	$100,000	$63	73
398 Margaret St	0.22mi	3/2.0 (-1)	1,820 (+5%)	4mo	$98,000	$54	72
494 Gage St	0.10mi	3/2.0 (-1)	1,574 (-9%)	16mo	$70,000	$44	62
673 Sumner St	0.58mi	4/2.0	1,882 (+9%)	1mo	$129,900	$69	57
668 Corley St	0.25mi	3/3.0 (-1)	1,836 (+6%)	16mo	$95,000	$52	56
573 Allyn St	0.45mi	4/2.0	1,674 (-3%)	22mo	$109,000	$65	55
375 Mcgowan St	0.34mi	5/2.0 (+1)	1,516 (-12%)	5mo	$150,000	$99	55
524 E Buchtel Ave	0.50mi	4/2.0	1,792 (+4%)	20mo	$145,000	$81	54
584 Sherman St	0.62mi	4/2.0	1,648 (-5%)	15mo	$73,500	$45	51
812 Kling St	0.73mi	5/3.5 (+1)	1,702 (-2%)	13mo	$146,035	$86	42

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: 20.6%
• Equity multiple: 1.84×
• Total profit: $26,517
• Equity at exit: $16,811

10-year hold

• IRR: 28.8%
• Equity multiple: 3.57×
• Total profit: $81,004
• Equity at exit: $9,749

Cash invested: $31,570 (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 44311

• Home prices YoY: -28.4%
• Active inventory: 54
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,993 high
• Mortgage (P&I): −$591
• Tax from tax record: −$179 /mo · $2,146/yr
• Insurance: −$47
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $702

Break-even live

Break-even rent $1,105

Max offer price $112,750

Occupancy floor 60%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,992
Total (2 units)			$1,993

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: $28,188
• Closing costs: $3,382
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
490 Gage St Akron, OH	4.0	1.0	1326	$1,053	$0.79	43d	1	0.11mi
435 Margaret St Akron, OH	4.0	2.0	1900	$1,450	$0.76	43d	1	0.26mi
548 Spicer St Akron, OH	4.0	2.0	1487	$1,100	$0.74	23d	1	0.26mi
356 Rankin St Akron, OH	4.0	1.5	1186	$1,197	$1.01	23d	1	0.33mi
287 Wheeler St Akron, OH	3.0	1.0	1100	$1,350	$1.23	23d	1	0.40mi
497 Sumner St Akron, OH	5.0	2.0	1776	$1,295	$0.73	43d	1	0.49mi
566 Sumner St Akron, OH	4.0	1.0	1170	$1,200	$1.03	43d	1	0.53mi
406 Sumner St Akron, OH	2.0–4.0	1.0–2.0	836	$1,295	$1.55	14d	3	0.55mi
987 Boone St Akron, OH	3.0	1.0	1248	$1,100	$0.88	23d	1	0.55mi
288 Cross St Akron, OH	4.0	2.0	1512	$1,295	$0.86	43d	1	0.58mi
600 Sherman St Akron, OH	4.0	1.0–2.0	824	$1,600	$1.94	14d	14	0.63mi
796 Brown St Akron, OH	4.0	2.0	1200	$900	$0.75	43d	1	0.67mi
768 Beardsley St Akron, OH	5.0	1.5	1714	$1,500	$0.88	14d	1	0.67mi
1071 Ackley St Akron, OH	4.0	2.0	1164	$1,175	$1.01	43d	1	0.73mi
1076 Ackley St Akron, OH	4.0	2.0	1998	$2,000	$1.00	14d	1	0.74mi
885 Brown St Akron, OH	4.0	2.0	1280	$1,400	$1.09	23d	1	0.82mi
907 Kling St Akron, OH	3.0	1.0	1248	$1,250	$1.00	14d	1	0.87mi
846 Lee Dr Akron, OH	4.0	1.5	1433	$1,325	$0.92	23d	1	0.88mi
846 Lee Dr Akron, OH	4.0	1.0	1433	$1,325	$0.92	14d	1	0.88mi
1125 2nd Ave Akron, OH	3.0	1.0	1373	$1,100	$0.80	23d	1	0.88mi
516 Whitney Ave Akron, OH	4.0	2.0	1676	$1,500	$0.89	43d	1	0.95mi
77 Kent Ct Akron, OH	4.0	1.0	1300	$1,200	$0.92	43d	1	0.96mi
22 E Exchange St Apt 310 Akron, OH	3.0	3.0	1496	$1,962	$1.31	43d	1	0.98mi
990 Baird St Akron, OH	3.0	1.0	1140	$1,250	$1.10	43d	1	1.00mi
401 S Main St Akron, OH	4.0	1.0–4.0	814	$1,871	$2.30	14d	54	1.00mi
488 Alexander St Akron, OH	4.0	2.0	1311	$1,350	$1.03	23d	1	1.05mi
979 Neptune Ave Akron, OH	3.0	1.0	1248	$1,250	$1.00	23d	1	1.05mi
1012 Brown St Akron, OH	4.0	2.0	1518	$1,295	$0.85	43d	1	1.06mi
1182 5th Ave Akron, OH	3.0	1.0	1248	$1,250	$1.00	14d	1	1.06mi
248 Arch St Akron, OH	3.0	1.0	1210	$1,300	$1.07	43d	1	1.09mi
240 Arch St Akron, OH	3.0	1.0	1182	$1,375	$1.16	43d	1	1.09mi
208 Denver St Akron, OH	3.0	1.0	1248	$895	$0.72	43d	1	1.11mi
1028 Kling St Akron, OH	4.0	2.0	1500	$1,450	$0.97	43d	1	1.11mi
156 S Main St Akron, OH	2.0–3.0	2.0	1197	$2,985	$2.49	23d	4	1.12mi
497 Lucy St Akron, OH	4.0	1.0	1600	$1,500	$0.94	43d	1	1.16mi
1040 Neptune Ave Akron, OH	4.0	1.0	1400	$1,300	$0.93	43d	1	1.16mi
1085 Herberich Ave Akron, OH	4.0	1.0	1350	$1,400	$1.04	43d	1	1.18mi
450 Stanton Ave Akron, OH	3.0	2.0	1927	$1,425	$0.74	43d	1	1.21mi
1139 Marcy St Akron, OH	4.0	1.5	1300	$1,300	$1.00	43d	1	1.21mi
1147 Newton St Akron, OH	3.0	2.0	1932	$1,250	$0.65	21d	1	1.25mi

Listing history 13 events

1. 2026-05-13
   status Pending 671-char remark

   Show marketing remark (671 chars)

   Investment opportunity to own six units all centralized around a common parking lot within walking distance to the University of Akron. The portfolio consists of 2 SFR homes, 4 duplexes and 2 residential lots. The addresses are 529-543 Gage St. 535 Gage St is a duplex that is tenant occupied. Their leases are through 7/31/26 and 11/30/26 with a combined monthly rent of $1520. Tenants are responsible for all utilities. Electric, gas, and water/sewer are all separately metered. Owner is responsible for the community monthly charges for yard care ($120) and trash ($147.45). Please do not disturb tenants. Photos are of the downstair's unit prior to tenant possession.

2. 2026-04-20
   listed $112,750 Active 671-char remark

   Show marketing remark (671 chars)

   Investment opportunity to own six units all centralized around a common parking lot within walking distance to the University of Akron. The portfolio consists of 2 SFR homes, 4 duplexes and 2 residential lots. The addresses are 529-543 Gage St. 535 Gage St is a duplex that is tenant occupied. Their leases are through 7/31/26 and 11/30/26 with a combined monthly rent of $1520. Tenants are responsible for all utilities. Electric, gas, and water/sewer are all separately metered. Owner is responsible for the community monthly charges for yard care ($120) and trash ($147.45). Please do not disturb tenants. Photos are of the downstair's unit prior to tenant possession.

3. 2025-11-22
   historical $795
4. 2025-11-01
   listed $795
5. 2025-11-01
   historical $795
6. 2025-10-24
   price $795
7. 2025-10-08
   listed $825
8. 2021-10-28
   soldstatus $85,000 Closed 106-char remark

   Show marketing remark (106 chars)

   Must be sold with 529, 531, 533, 535, 539, 543 Gage- package deal due to overlapping driveways and parking

9. 2021-08-17
   status Pending 106-char remark

   Show marketing remark (106 chars)

   Must be sold with 529, 531, 533, 535, 539, 543 Gage- package deal due to overlapping driveways and parking

10. 2021-08-11
    status Active 106-char remark

    Show marketing remark (106 chars)

    Must be sold with 529, 531, 533, 535, 539, 543 Gage- package deal due to overlapping driveways and parking

11. 2021-03-29
    listed $85,000 106-char remark

    Show marketing remark (106 chars)

    Must be sold with 529, 531, 533, 535, 539, 543 Gage- package deal due to overlapping driveways and parking

12. 2021-03-29
    historical 106-char remark

    Show marketing remark (106 chars)

    Must be sold with 529, 531, 533, 535, 539, 543 Gage- package deal due to overlapping driveways and parking

13. 1994-02-24
    soldstatus $41,700

ⓘ 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: $2,146 · $179/mo
• Projected year-2 tax: $2,146 · $179/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 7/10 Severe FEMA zone X (unshaded) · 76% 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: $23,916
• − Mortgage interest: −$6,316
• − Property taxes: −$2,146
• − Insurance: −$1,230
• − Repairs & maintenance: −$1,913
• − Management: −$1,913
• − Depreciation: −$3,280
• Taxable income: $7,117
• Est. tax owed @ 24.0%: −$1,708
• After-tax cash flow: $6,714/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): 7,547
• Household income: $24,369
• Rent vs Own: 83.0% rent · 17.0% own
• Severe rent burden: 659.0

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 0.60)
• Race & ethnicity: White 53% Black 35% Two or more races 6% Hispanic / Latino 4% Asian 3%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 2%
• Foreign-born: 3% · Canada, Vietnam, Philippines
• Languages at home: 95% English-only · Spanish 2% Other Asian/Pacific 1% Other Indo-European 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: ▼ -39.01%
• Current HPI: 98.3809
• 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

+170.4% since first listed

13 events — show timeline

• 2026-05-13 Pending — MLSNOW
• 2026-04-20 Listed $112,750 MLSNOW
• 2025-11-22 Rental Removed $795 RENTEC
• 2025-11-01 Listed for Rent $795 RENTEC
• 2025-11-01 Rental Removed $795 TENANTTURNER2
• 2025-10-24 Price Changed $795 TENANTTURNER2
• 2025-10-08 Listed for Rent $825 TENANTTURNER2
• 2021-10-28 Sold (MLS) $85,000 MLSNOW
• 2021-08-17 Pending — MLSNOW
• 2021-08-11 Relisted — MLSNOW
• 2021-03-29 Listing Removed — MLSNOW
• 2021-03-29 Listed $85,000 MLSNOW
• 1994-02-24 Sold (Public Records) $41,700 Public Records

Property tax history

+3.5%/yr

Latest (2025): $2,146 · +0.2% YoY. Source: county tax records.