675 Sherman St · Akron, OH 44311

$65,000

2 bd · 2.0 ba · 1,657 sqft · MultiFamily public records · 41 Days on market

Built 1878 0.28 ac lot $39/sqft · 48% below area Est $124k · 48% 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
• 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

Investor special! Steady cash flowing duplex with strong rental history. The lower unit is a 1 bed, 1 bath that is currently rented for $575. The upstairs unit is an efficiency and currently vacant. Close proximity to The University of Akron. Schedule your private showing today!

Key facts

• Cash flowing duplex
• 0.28 acre lot
• 2 garage spots

Tags

• CASH FLOWING DUPLEX
• STRONG RENTAL HISTORY

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1.0-bath units multifamily listed at $65k.

Deal economics

• At list price, monthly cash flow is $987 ($12k/yr) — positive. Per door: $494/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 24.5% 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; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• At $2,008/mo this rent would consume 99% 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 $449 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 + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 15y 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 $25k; list at $65k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price; built in 1878 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1878 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 3.09% ✓
• Cap rate: 24.52%
• Cash-on-cash: 65.09%
• DSCR: 3.90
• GRM: 2.7

CMA / ARV

• ARV (median comp): $123,948
• List price: $65,000
• Delta: -47.56%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
841 Grant St	0.33mi	3/2.0 (+1)	1,550 (-6%)	5mo	$40,000	$26	64
494 Gage St	0.57mi	3/2.0 (+1)	1,574 (-5%)	16mo	$70,000	$44	47

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: 64.3%
• Equity multiple: 3.88×
• Total profit: $52,462
• Equity at exit: $9,692

10-year hold

• IRR: 68.7%
• Equity multiple: 7.99×
• Total profit: $127,139
• Equity at exit: $5,620

Cash invested: $18,200 (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: 5.4×

Monthly cashflow live

• Estimated rent: $2,008 high
• Mortgage (P&I): −$341
• Tax from tax record: −$231 /mo · $2,775/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $987

Break-even live

Break-even rent $758

Max offer price $65,000

Occupancy floor 46%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,008
Total (2 units)			$2,008

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
600 Sherman St Akron, OH	4.0	1.0–2.0	824	$1,200	$1.46	14d	14	0.12mi
287 Wheeler St Akron, OH	3.0	1.0	1100	$1,350	$1.23	23d	1	0.44mi
406 Sumner St Akron, OH	2.0–4.0	1.0–2.0	836	$875	$1.05	14d	3	0.49mi
455 Spicer St Akron, OH	2.0	1.0	1872	$975	$0.52	14d	1	0.52mi
907 Kling St Akron, OH	3.0	1.0	1248	$1,250	$1.00	14d	1	0.58mi
530 S Main St Akron, OH	1.0–2.0	1.0–2.0	937	$2,195	$2.34	44d	2	0.69mi
401 S Main St Akron, OH	4.0	1.0–4.0	814	$1,198	$1.47	14d	54	0.75mi
22 E Exchange St Apt 310 Akron, OH	3.0	3.0	1496	$1,962	$1.31	44d	1	0.77mi
22 E Exchange St Unit 233 Akron, OH	2.0	2.0	1052	$1,599	$1.52	44d	1	0.77mi
450 Stanton Ave Akron, OH	3.0	2.0	1927	$1,425	$0.74	44d	1	0.88mi
979 Neptune Ave Akron, OH	3.0	1.0	1248	$1,250	$1.00	23d	1	0.91mi
931 Trimble Dr Akron, OH	2.0	1.5	1448	$1,495	$1.03	23d	1	0.99mi
1200 Girard St Akron, OH	3.0	2.0	1438	$1,100	$0.76	14d	1	1.03mi
156 S Main St Akron, OH	2.0–3.0	2.0	1197	$1,925	$1.61	23d	4	1.13mi
987 Boone St Akron, OH	3.0	1.0	1248	$1,100	$0.88	23d	1	1.15mi
1298 Bellows St Akron, OH	3.0	1.0	1300	$1,250	$0.96	44d	1	1.23mi
377 Talbot Ave Akron, OH	2.0	1.0	1070	$1,050	$0.98	44d	1	1.28mi
1127 Victory St Unit 1129 Akron, OH	3.0	1.0	1368	$950	$0.69	44d	1	1.28mi
990 Baird St Akron, OH	3.0	1.0	1140	$1,250	$1.10	44d	1	1.30mi
797 E Market St Apt 220 Akron, OH	2.0	1.5	1100	$1,500	$1.36	23d	1	1.39mi
1125 2nd Ave Akron, OH	3.0	1.0	1373	$1,100	$0.80	23d	1	1.39mi

Listing history 11 events

1. 2026-05-16
   status Pending 279-char remark

   Show marketing remark (279 chars)

   Investor special! Steady cash flowing duplex with strong rental history. The lower unit is a 1 bed, 1 bath that is currently rented for $575. The upstairs unit is an efficiency and currently vacant. Close proximity to The University of Akron. Schedule your private showing today!

2. 2026-04-05
   listed $65,000 Active 279-char remark

   Show marketing remark (279 chars)

   Investor special! Steady cash flowing duplex with strong rental history. The lower unit is a 1 bed, 1 bath that is currently rented for $575. The upstairs unit is an efficiency and currently vacant. Close proximity to The University of Akron. Schedule your private showing today!

3. 2026-03-09
   historical
4. 2025-11-07
   listed $74,900 Active
5. 2015-03-05
   listed $34,900 Active
6. 2015-02-16
   historical
7. 2012-06-04
   soldstatus $25,000
8. 2012-06-04
   soldstatus $25,000
9. 2012-04-06
   listed $33,900
10. 2011-12-11
    historical
11. 2011-06-11
    listed $30,000

ⓘ 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: $2,775 · $231/mo
• Projected year-2 tax: $2,775 · $231/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 · 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: $24,096
• − Mortgage interest: −$3,641
• − Property taxes: −$2,775
• − Insurance: −$325
• − Repairs & maintenance: −$1,928
• − Management: −$1,928
• − Depreciation: −$1,891
• Taxable income: $11,609
• Est. tax owed @ 24.0%: −$2,786
• After-tax cash flow: $9,060/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

+116.7% since first listed

11 events — show timeline

• 2026-05-16 Pending — MLSNOW
• 2026-04-05 Listed $65,000 MLSNOW
• 2026-03-09 Listing Removed — MLSNOW
• 2025-11-07 Listed $74,900 MLSNOW
• 2015-03-05 Listed $34,900 MLSNOW
• 2015-02-16 Listing Removed — MLSNOW
• 2012-06-04 Sold (Public Records) $25,000 Public Records
• 2012-06-04 Sold (MLS) $25,000 MLSNOW
• 2012-04-06 Listed $33,900 MLSNOW
• 2011-12-11 Listing Removed — MLSNOW
• 2011-06-11 Listed $30,000 MLSNOW

Property tax history

+7.5%/yr

Latest (2025): $2,775 · +0.2% YoY. Source: county tax records.