924 Concord Ave · Akron, OH 44306

$59,000

4 bd · 2.0 ba · 1,597 sqft · MultiFamily public records · 68 Days on market

Built 1919 4,578 sqft lot $37/sqft · 33% below area Est $88k · 33% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.4/5.0
• Livability +4.0/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

3-story house with 6 bedrooms and 2 full bathrooms. Two-car, detached garage.

Key facts

• 4,578 sq ft lot
• 2 garage spots
• Built 1919

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $59k.

Deal economics

• At list price, monthly cash flow is $628 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $55k (6.0% below list) — sets the bar for market timing.
• Cap rate 19.1% 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: Rents rising fast (+7.6%/yr); 69 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% 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).
• This rent runs 40% of the median local income ($42k/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 $408 of loan paydown is wiped out by about $2k 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 + 7.6% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 35y ago; this cycle's ask has dropped $16k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $5k; list at $59k implies a 1080% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $55,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 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 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.33% ✓
• Cap rate: 19.07%
• Cash-on-cash: 45.62%
• DSCR: 3.03
• GRM: 3.6

CMA / ARV

• ARV (median comp): $87,500
• List price: $59,000
• Delta: -32.57%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
970 Concord Ave	0.08mi	4/2.0	1,440 (-10%)	17mo	$161,000	$112	66
1143 Santee Ave	0.31mi	4/2.0	1,431 (-10%)	14mo	$125,000	$87	57
969-971 Reed Ave	0.54mi	4/2.0	1,488 (-7%)	10mo	$105,000	$71	55
1196-1198 Welton Ave	0.58mi	4/2.0	1,440 (-10%)	21mo	$139,900	$97	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 · 7.63% rent growth · sell at horizon

5-year hold

• IRR: 48.2%
• Equity multiple: 3.25×
• Total profit: $37,199
• Equity at exit: $8,797

10-year hold

• IRR: 55.9%
• Equity multiple: 7.92×
• Total profit: $114,389
• Equity at exit: $5,101

Cash invested: $16,520 (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 44306

• Rents YoY: 7.6%
• Active inventory: 69
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,375 high
• Mortgage (P&I): −$309
• Tax from tax record: −$124 /mo · $1,489/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $628

Break-even live

Break-even rent $580

Max offer price $59,000

Occupancy floor 49%

Sensitivity live

Price	-10% $661	-5% $645	+0% $628	+5% $611	+10% $595
Rent	-10% $519	-5% $574	+0% $628	+5% $682	+10% $737
Rate	-1.0pp $658	-0.5pp $643	base $628	+0.5pp $613	+1.0pp $597

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1204 Inman St Akron, OH	3.0	1.0	1080	$1,200	$1.11	24d	1	0.47mi
990 Baird St Akron, OH	3.0	1.0	1140	$1,250	$1.10	44d	1	0.48mi
516 Whitney Ave Akron, OH	4.0	2.0	1676	$1,500	$0.89	44d	1	0.51mi
1070 Super Genius Cir Akron, OH	2.0–4.0	1.0–2.0	1145	$1,429	$1.25	14d	1	0.56mi
488 Alexander St Akron, OH	4.0	2.0	1311	$1,350	$1.03	24d	1	0.61mi
1040 Neptune Ave Akron, OH	4.0	1.0	1400	$1,300	$0.93	44d	1	0.64mi
979 Neptune Ave Akron, OH	3.0	1.0	1248	$1,250	$1.00	24d	1	0.64mi
497 Lucy St Akron, OH	4.0	1.0	1600	$1,500	$0.94	44d	1	0.65mi
1085 Herberich Ave Akron, OH	4.0	1.0	1350	$1,400	$1.04	44d	1	0.67mi
1125 Georgia Ave Akron, OH	3.0	1.0	1060	$1,300	$1.23	14d	1	0.69mi
1114 Herberich Ave Akron, OH	4.0	1.0	1308	$1,200	$0.92	44d	1	0.69mi
1182 5th Ave Akron, OH	3.0	1.0	1248	$1,250	$1.00	14d	1	0.81mi
1012 Brown St Akron, OH	4.0	2.0	1518	$1,295	$0.85	44d	1	0.83mi
885 Brown St Akron, OH	4.0	2.0	1280	$1,400	$1.09	24d	1	0.89mi
466 Adkins Ave Akron, OH	4.0	1.5	1800	$1,450	$0.81	44d	1	0.90mi
1028 Kling St Akron, OH	4.0	2.0	1500	$1,450	$0.97	44d	1	0.93mi
450 Stanton Ave Akron, OH	3.0	2.0	1927	$1,425	$0.74	44d	1	0.93mi
1125 2nd Ave Akron, OH	3.0	1.0	1373	$1,100	$0.80	24d	1	0.95mi
907 Kling St Akron, OH	3.0	1.0	1248	$1,250	$1.00	14d	1	0.97mi
432 N Firestone Blvd Unit 1496097P Akron, OH	4.0	2.0	1926	$6,253	$3.25	21d	1	0.97mi
796 Brown St Akron, OH	4.0	2.0	1200	$900	$0.75	44d	1	1.01mi
373 N Firestone Blvd Akron, OH	4.0	1.5	1590	$1,550	$0.97	44d	1	1.06mi
1076 Ackley St Akron, OH	4.0	2.0	1998	$2,000	$1.00	14d	1	1.09mi
1071 Ackley St Akron, OH	4.0	2.0	1164	$1,175	$1.01	44d	1	1.10mi
435 Margaret St Akron, OH	4.0	2.0	1900	$1,450	$0.76	44d	1	1.13mi
768 Beardsley St Akron, OH	5.0	1.5	1714	$1,500	$0.88	14d	1	1.18mi
1200 Girard St Akron, OH	3.0	2.0	1438	$1,100	$0.76	14d	1	1.19mi
1289 Girard St Akron, OH	5.0	1.0	1119	$1,350	$1.21	44d	1	1.19mi
987 Boone St Akron, OH	3.0	1.0	1248	$1,100	$0.88	24d	1	1.21mi
548 Spicer St Akron, OH	4.0	2.0	1487	$1,100	$0.74	24d	1	1.29mi
1298 Bellows St Akron, OH	3.0	1.0	1300	$1,250	$0.96	44d	1	1.33mi
1139 Marcy St Akron, OH	4.0	1.5	1300	$1,300	$1.00	44d	1	1.36mi
490 Gage St Akron, OH	4.0	1.0	1326	$1,053	$0.79	44d	1	1.38mi
1282 Andrus St Akron, OH	4.0	1.0	1242	$1,195	$0.96	44d	1	1.41mi
356 Rankin St Akron, OH	4.0	1.5	1186	$1,197	$1.01	24d	1	1.45mi
1368 Moore St Akron, OH	4.0	1.0	1575	$1,300	$0.83	44d	1	1.47mi

Listing history 25 events

1. 2026-06-18
   days on market $59,000 Active 68 DOM
2. 2026-06-17
   days on market $59,000 Active 67 DOM
3. 2026-06-16
   days on market $59,000 Active 66 DOM
4. 2026-06-15
   days on market $59,000 Active 65 DOM
5. 2026-06-14
   days on market $59,000 Active 63 DOM
6. 2026-06-13
   pricedays on market $59,000 Active 62 DOM
7. 2026-06-10
   days on market $64,000 Active 60 DOM
8. 2026-06-09
   days on market $64,000 Active 59 DOM
9. 2026-06-08
   days on market $64,000 Active 58 DOM
10. 2026-06-07
    days on market $64,000 Active 57 DOM
11. 2026-06-05
    days on market $64,000 Active 54 DOM
12. 2026-06-03
    days on market $64,000 Active 53 DOM
13. 2026-06-02
    days on market $64,000 Active 52 DOM
14. 2026-06-01
    days on market $64,000 Active 51 DOM
15. 2026-05-31
    days on market $64,000 Active 50 DOM
16. 2026-05-31
    days on market $64,000 Active 49 DOM
17. 2026-05-19
    price $64,000 77-char remark

    Show marketing remark (77 chars)

    3-story house with 6 bedrooms and 2 full bathrooms. Two-car, detached garage.

18. 2026-04-28
    price $69,900 77-char remark

    Show marketing remark (77 chars)

    3-story house with 6 bedrooms and 2 full bathrooms. Two-car, detached garage.

19. 2026-04-10
    listed $75,000 Active 77-char remark

    Show marketing remark (77 chars)

    3-story house with 6 bedrooms and 2 full bathrooms. Two-car, detached garage.

20. 2011-09-15
    soldstatus $5,000 283-char remark

    Show marketing remark (283 chars)

    Great investment property - possible double - wonderful cash flow - Attention 1st time home buyers with fix up skills - a lot of potential - may also be purchased as part of a package with other properties - 5 bedrooms, 2 full baths, 2 car garage with attic, particularly fenced yard

21. 2011-07-15
    listed $13,900 283-char remark

    Show marketing remark (283 chars)

    Great investment property - possible double - wonderful cash flow - Attention 1st time home buyers with fix up skills - a lot of potential - may also be purchased as part of a package with other properties - 5 bedrooms, 2 full baths, 2 car garage with attic, particularly fenced yard

22. 2011-06-04
    historical
23. 2010-12-04
    listed $15,000
24. 1991-11-09
    historical
25. 1991-08-09
    listed $40,900

ⓘ 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: $1,489 · $124/mo
• Projected year-2 tax: $1,489 · $124/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 3/10 Moderate 7 d/yr ≥96°F today · 16 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: $16,499
• − Mortgage interest: −$3,305
• − Property taxes: −$1,489
• − Insurance: −$295
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$1,716
• Taxable income: $7,054
• Est. tax owed @ 24.0%: −$1,693
• After-tax cash flow: $5,844/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): 20,905
• Household income: $41,688
• Rent vs Own: 56.4% rent · 43.6% own
• Severe rent burden: 1251.0

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 0.62)
• Race & ethnicity: White 48% Black 38% Two or more races 8% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 2% Iranian 1% Scotch-Irish 1%
• Foreign-born: 4% · Vietnam, Canada, Philippines
• Languages at home: 94% English-only · Spanish 2% Other Asian/Pacific 1% Vietnamese 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: ▼ -101.46%
• Current HPI: 132.768
• Rent YoY: ▲ 7.63%
• 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

+56.5% since first listed

9 events — show timeline

• 2026-05-19 Price Changed $64,000 MLSNOW
• 2026-04-28 Price Changed $69,900 MLSNOW
• 2026-04-10 Listed $75,000 MLSNOW
• 2011-09-15 Sold (MLS) $5,000 MLSNOW
• 2011-07-15 Listed $13,900 MLSNOW
• 2011-06-04 Listing Removed — MLSNOW
• 2010-12-04 Listed $15,000 MLSNOW
• 1991-11-09 Listing Removed — MLSNOW
• 1991-08-09 Listed $40,900 MLSNOW

Property tax history

+5.1%/yr

Latest (2025): $1,489 · +0.2% YoY. Source: county tax records.