805 Dipper Ln #2 · Aurora, OH 44202

$388,000

3 bd · 2.5 ba · 1,839 sqft · Townhouse public records · 48 Days on market

Built 2023 2,265 sqft lot $211/sqft · 15% above area Est $415k · 7% under $90/mo HOA · 3% of rent ↓ 5% since listing

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Why this score? — see what drove the D- 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).

• ARV discount +10.5/15.0
• Cash flow +7.6/30.0
• Schools +7.2/10.0
• Livability +3.8/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Modern townhouse for serene, effortless living. Pristine spacious townhome with modern design and flare. Open concept layout with tons of normal light adorn the 1st floor with a beautiful kitchen and amble cabinetry, backsplash, island and granite countertops. Mudroom, pantry closet, and open foyer open to spacious living room area with floor to ceiling custom shiplap with a fireplace. Morning room for use as a home office or sitting room leads to a tranquil paver stone patio with plenty of privacy for family get togethers. Large master suite with on suite bath featuring double vanities, shower, and separate water closet. Master has amble walk-in closet and sitting area/den, 2 additional bedrooms featuring walk-in and bare windows additional full second floor bath. 2nd floor laundry for total convenience. Powder room on main level. 2 car garage. Association handles lawn care and snow removal. Make this an effortless, serene community! Come out and visit today!

Key facts

• Beautiful kitchen
• Ample cabinetry
• Granite countertops

Tags

• OPEN CONCEPT LAYOUT
• BEAUTIFUL KITCHEN
• AMPLE CABINETRY
• GRANITE COUNTERTOPS
• FIREPLACE
• MORNING ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $388k.

Deal economics

• At list price, monthly cash flow is $-462 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $306k (21.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $290k (25.3% below list).
• Recommended offer: $290k (25.3% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 2.5% in Aurora — 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 75/100 on livability (#258 in OH, #4,104 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, health & safety F.
• Aurora City (suburban): math 79% / reading 84% proficiency, ranked #35 of 656 in OH (top 5%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Market conditions: 136 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 196 units permitted in Portage County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($376k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Recommended offer $290,006 (25.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.75% ✗
• Cap rate: 4.86%
• Cash-on-cash: -5.11%
• DSCR: 0.77
• GRM: 11.1

CMA / ARV

• ARV (median comp): $415,285
• List price: $388,000
• Delta: -6.57%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
950-4 Memory Ln	0.11mi	3/2.5	1,854 (+1%)	2mo	$399,990	$216	92
885 Dipper Ln #1	0.15mi	3/2.5	1,910 (+4%)	1mo	$374,500	$196	86
870 Dipper Ln #2	0.13mi	3/2.5	1,910 (+4%)	3mo	$329,500	$173	85
950-1 Memory Ln	0.11mi	3/2.5	2,054 (+12%)	1mo	$430,000	$209	74
950-2 Memory Ln	0.11mi	3/2.5	2,054 (+12%)	2mo	$420,000	$204	74
950-5 Memory Ln	0.09mi	3/2.5	2,054 (+12%)	4mo	$430,000	$209	73
950-3 Memory Ln	0.11mi	3/2.5	2,064 (+12%)	3mo	$412,000	$200	72
965-1 Memory Ln	0.07mi	3/2.5	2,064 (+12%)	5mo	$435,000	$211	72
960-1 Memory Ln	0.08mi	3/2.5	2,064 (+12%)	5mo	$425,000	$206	71
850-1 Dipper Ln	0.09mi	3/2.5	2,107 (+15%)	7mo	$380,000	$180	66
835-2 Dipper Ln	0.18mi	3/2.5	2,112 (+15%)	3mo	$380,000	$180	65
250 Sandover Dr	0.62mi	2/2.0 (-1)	1,693 (-8%)	2mo	$385,000	$227	49

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: -25.0%
• Equity multiple: 0.15×
• Total profit: $-92,229
• Equity at exit: $57,852

10-year hold

• IRR: -20.8%
• Equity multiple: -0.08×
• Total profit: $-117,868
• Equity at exit: $33,547

Cash invested: $108,640 (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 44202

• Active inventory: 136
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,900 medium
• Mortgage (P&I): −$2,035
• Tax from tax record: −$467 /mo · $5,604/yr
• Insurance: −$162
• HOA: −$90
• Vacancy / Maint / Mgmt: −$609
• Net cashflow: $-462

Break-even live

Break-even rent $3,485

Max offer price $306,332

Occupancy floor —

Sensitivity live

Price	-10% $-243	-5% $-352	+0% $-462	+5% $-572	+10% $-682
Rent	-10% $-691	-5% $-577	+0% $-462	+5% $-348	+10% $-233
Rate	-1.0pp $-267	-0.5pp $-364	base $-462	+0.5pp $-563	+1.0pp $-665

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: $97,000
• Closing costs: $11,640
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7340 Ferris ST Aurora, OH	3.0	1.0–3.0	1138	$3,230	$2.84	2d	1	0.69mi
1177 Moneta Ave Aurora, OH	4.0	2.0	1660	$2,500	$1.51	44d	1	1.22mi

HOA detail

• Monthly dues: $90 · $1,080/yr
• Likely covers: waterlandscapingsnow removal

Listing history 9 events

1. 2026-04-27
   price $388,000 974-char remark

   Show marketing remark (974 chars)

   Modern townhouse for serene, effortless living. Pristine spacious townhome with modern design and flare. Open concept layout with tons of normal light adorn the 1st floor with a beautiful kitchen and amble cabinetry, backsplash, island and granite countertops. Mudroom, pantry closet, and open foyer open to spacious living room area with floor to ceiling custom shiplap with a fireplace. Morning room for use as a home office or sitting room leads to a tranquil paver stone patio with plenty of privacy for family get togethers. Large master suite with on suite bath featuring double vanities, shower, and separate water closet. Master has amble walk-in closet and sitting area/den, 2 additional bedrooms featuring walk-in and bare windows additional full second floor bath. 2nd floor laundry for total convenience. Powder room on main level. 2 car garage. Association handles lawn care and snow removal. Make this an effortless, serene community! Come out and visit today!

2. 2026-04-02
   listed $389,900 Active 974-char remark

   Show marketing remark (974 chars)

   Modern townhouse for serene, effortless living. Pristine spacious townhome with modern design and flare. Open concept layout with tons of normal light adorn the 1st floor with a beautiful kitchen and amble cabinetry, backsplash, island and granite countertops. Mudroom, pantry closet, and open foyer open to spacious living room area with floor to ceiling custom shiplap with a fireplace. Morning room for use as a home office or sitting room leads to a tranquil paver stone patio with plenty of privacy for family get togethers. Large master suite with on suite bath featuring double vanities, shower, and separate water closet. Master has amble walk-in closet and sitting area/den, 2 additional bedrooms featuring walk-in and bare windows additional full second floor bath. 2nd floor laundry for total convenience. Powder room on main level. 2 car garage. Association handles lawn care and snow removal. Make this an effortless, serene community! Come out and visit today!

3. 2026-02-18
   historical
4. 2026-01-15
   price $394,900
5. 2025-10-23
   price $399,800
6. 2025-09-25
   price $404,900
7. 2025-08-18
   listed $409,900 Active
8. 2025-08-08
   historical
9. 2025-07-28
   listed $410,000 Active

ⓘ 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: $5,604 · $467/mo
• Projected year-2 tax: $5,828 · $486/mo
• Expected delta: +$225/yr (+$19/mo · 4.0%)

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

Taxation est. · year 1

• Rental income: $34,801
• − Mortgage interest: −$21,734
• − Property taxes: −$5,604
• − Insurance: −$1,940
• − Repairs & maintenance: −$2,784
• − Management: −$2,784
• − HOA: −$1,080
• − Depreciation: −$11,287
• Taxable loss: −$12,412
• Est. tax savings @ 24.0%: +$2,979
• After-tax cash flow: $-2,569/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: Aurora City
• NCES district ID: 3904917
• Math proficiency: 79% ▼ -7.00%
• Reading proficiency: 84% ▼ -5.00%
• Median HH income: $81,791
• Composite: 71.93/100
• National rank: #213
• State rank: #35 of 656 in OH

Livability — Aurora

• Score: 75/100
• State rank: #258
• US rank: #4104

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Aurora, OH
• County: Portage · 165,699 people
• City population: 22,857
• Metro: Akron, OH
• Population (ZIP): 22,857
• Household income: $116,556
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 4.9

Population outlook (Portage County) Hauer SSP2

• Today (2025): 166,109 people
• By 2030: 167,752 · +1.0%
• By 2040: 168,640 · +1.5%
• By 2050: 167,469 · +0.8%
• By 2075: 170,131 · +2.4%
• By 2100: 167,958 · +1.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Asian 4% Two or more races 4% Black 3%
• Common ancestry: Romanian 9% Italian 3% Lithuanian 2%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 94% English-only · Other Indo-European 2% Other Asian/Pacific 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Portage

• 2024 margin: R (+15.5) · D 41.8% · R 57.3%
• 2008→2024 swing: -24.5pp toward R · 2008: 9.0pp · 2024: -15.5pp
• All cycles: 2024: R+15.5 2020: R+12.5 2016: R+10.2 2012: D+4.9 2008: D+9.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -270.23%
• Current HPI: 186.4919
• 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

-5.4% since first listed

9 events — show timeline

• 2026-04-27 Price Changed $388,000 MLSNOW
• 2026-04-02 Listed $389,900 MLSNOW
• 2026-02-18 Listing Removed — MLSNOW
• 2026-01-15 Price Changed $394,900 MLSNOW
• 2025-10-23 Price Changed $399,800 MLSNOW
• 2025-09-25 Price Changed $404,900 MLSNOW
• 2025-08-18 Listed $409,900 MLSNOW
• 2025-08-08 Listing Removed — MLSNOW
• 2025-07-28 Listed $410,000 MLSNOW

Property tax history

+1.8%/yr

Latest (2025): $5,604 · +1.8% YoY. Source: county tax records.