1635 Triplett Blvd

Akron, OH 44306

$83,900B+

3 bd · 2.0 ba · 1,585 sqft · Built 1914 · SingleFamily · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,208/mo
• Mortgage (P&I): −$440
• Tax + insurance: −$267
• HOA: −$0
• Vac / Maint / Mgmt: −$254
• Net cashflow: $247/mo
• Annual: $2,966/yr
• Cap rate: 9.83%
• Cash-on-cash: 12.63%
• DSCR: 1.56
• 1% rule: 1.44%
• Cash to close: $23,492

Investor read

• This is a 3-bed/2.0-bath single-family listed at $84k. Condition is rated fair.
• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• It's been on market 37 days — a 3% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $81k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $580 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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.
• Zoned schools: Hatton Community Learning Center (math 42% / reading 42%, grade F, #1,030 of 1,584 statewide, top 66%, 460 students, 0% FRL); Hyre Community Learning Center (math 23% / reading 33%, grade F, #583 of 654 statewide, top 89%, 713 students, 0% FRL); Ellet Community Learning Center (math 30% / reading 42%, grade F, #579 of 781 statewide, top 74%, 968 students, 0% FRL) — zoned schools average 0% FRL vs 66% district-wide (66 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: property tax is 3.3% of price; built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+7.6%/yr); 153 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• Summit County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 9 sale attempts since 30y 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.
• At projected returns (-3.0% appreciation + 7.6% rent growth), your $23k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 9.8% vs local median 6.2% 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.
• This rent runs 35% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen flooring — The flooring appears to be laminate or vinyl, which may need replacement.
• Minor: Bathroom flooring — The flooring appears to be standard, which may need updating.
• Minor: Exterior siding — The siding appears to be in fair condition, with some discoloration and wear visible.
• Minor: Interior walls/paint — The walls and paint appear to be in fair condition, with some discoloration and wear visible.
• Minor: Windows — The windows appear to be in fair condition, with some discoloration and wear visible.
• Minor: Landscaping — The landscaping appears to be in fair condition, with some overgrown areas and a need for some maintenance.