615 Wellman Ave SW · Massillon, OH 44646

$169,000

4 bd · 3.0 ba · 2,232 sqft · MultiFamily public records · 86 Days on market

Built 1923 7,840 sqft lot Est $150k · 13% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.0/5.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• ARV discount +1.8/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Investor opportunity with this solid brick triplex in Massillon at 615 Wellman Ave. Prime investment property with two vacant 2-bedroom/1-bath units and a gutted basement ready for conversion into a third rental unit or left as a large shared laundry/storage area to support the two main units. Recent major updates: new roof (2025), new rear balconies (2025), and new windows (2026) significantly lowering near-term capex. Clean brick exterior, individual unit layouts ideal for long-term tenants or short-term value-add renovations. Convenient location near neighborhood amenities and transit. Strong upside for investors willing to finish the basement into an additional income-producing unit. Schedule a showing while it lasts!

Key facts

• New rear balconies
• Solid brick triplex
• Clean brick exterior

Tags

• SOLID BRICK TRIPLEX
• GUTTED BASEMENT
• NEW ROOF
• NEW REAR BALCONIES
• NEW WINDOWS
• CLEAN BRICK EXTERIOR

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/2.0-bath units multifamily listed at $169k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $676/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $169k).
• Recommended offer: $159k (6.0% below list) — sets the bar for market timing.
• Cap rate 20.7% vs local median 3.9% in Massillon — 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 74/100 on livability (#306 in OH, #4,928 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: employment C-, amenities F, commute F.
• Massillon City (urban): math 43% / reading 52% proficiency, ranked #487 of 656 in OH (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Franklin Elementary School (math 47% / reading 47%, grade D-, #942 of 1,584 statewide, top 61%, 434 students, 0% FRL); Massillon Intermediate School (math 38% / reading 51%, grade D, #477 of 654 statewide, top 74%, 880 students, 0% FRL); Washington High School (math 30% / reading 59%, grade F, #470 of 781 statewide, top 62%, 1,179 students, 0% FRL) — zoned schools average 0% FRL vs 60% district-wide (60 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+6.0%/yr); 209 active listings in the ZIP; 528 units permitted in Stark County in 2024 (84 in 5+ unit buildings).
• At $3,936/mo this rent would consume 68% of the median local household income ($69k/yr) (locally 1011% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Stark County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 6.0% rent growth), your $47k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 26y 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 $90k; list at $169k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $158,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% 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 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-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?
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: 2.33% ✓
• Cap rate: 20.70%
• Cash-on-cash: 51.45%
• DSCR: 3.29
• GRM: 3.6

CMA / ARV

• ARV (median comp): $149,950
• List price: $169,000
• Delta: 12.70%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
832 Wellman Ave SE	0.10mi	5/2.0 (+1)	2,289 (+3%)	5mo	$155,000	$68	78
603 Wellman Ave SE	0.02mi	4/2.0	2,324 (+4%)	15mo	$129,900	$56	75
43 6th St SE	0.07mi	4/2.0	2,519 (+13%)	11mo	$120,000	$48	62
705-707 Seneca St NE	0.48mi	4/2.0	2,048 (-8%)	3mo	$144,900	$71	57
324 Chestnut Ave NE	0.42mi	4/2.0	2,422 (+8%)	11mo	$185,000	$76	53
1236 North St NE	0.45mi	4/2.0	2,288 (+2%)	24mo	$162,500	$71	51

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 · 6.04% rent growth · sell at horizon

5-year hold

• IRR: 52.6%
• Equity multiple: 3.41×
• Total profit: $114,247
• Equity at exit: $25,198

10-year hold

• IRR: 59.1%
• Equity multiple: 7.76×
• Total profit: $320,087
• Equity at exit: $14,612

Cash invested: $47,320 (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 44646

• Rents YoY: 6.0%
• Active inventory: 209
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $3,936 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$124 /mo · $1,486/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$827
• Net cashflow: $2,029

Break-even live

Break-even rent $1,368

Max offer price $169,000

Occupancy floor 43%

Sensitivity live

Price	-10% $2,125	-5% $2,077	+0% $2,029	+5% $1,981	+10% $1,933
Rent	-10% $1,718	-5% $1,873	+0% $2,029	+5% $2,184	+10% $2,340
Rate	-1.0pp $2,114	-0.5pp $2,072	base $2,029	+0.5pp $1,985	+1.0pp $1,941

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	2	$3,936
Total (3 units)			$3,936

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 45 events

1. 2026-06-18
   days on market $169,000 Active 86 DOM
2. 2026-06-17
   days on market $169,000 Active 85 DOM
3. 2026-06-16
   days on market $169,000 Active 84 DOM
4. 2026-06-15
   days on market $169,000 Active 83 DOM
5. 2026-06-14
   days on market $169,000 Active 81 DOM
6. 2026-06-13
   days on market $169,000 Active 80 DOM
7. 2026-06-10
   days on market $169,000 Active 78 DOM
8. 2026-06-09
   days on market $169,000 Active 77 DOM
9. 2026-06-08
   days on market $169,000 Active 76 DOM
10. 2026-06-07
    days on market $169,000 Active 75 DOM
11. 2026-06-02
    days on market $169,000 Active 70 DOM
12. 2026-06-01
    days on market $169,000 Active 69 DOM
13. 2026-05-31
    days on market $169,000 Active 68 DOM
14. 2026-05-30
    days on market $169,000 Active 67 DOM
15. 2026-04-23
    price $169,000 731-char remark

    Show marketing remark (731 chars)

    Investor opportunity with this solid brick triplex in Massillon at 615 Wellman Ave. Prime investment property with two vacant 2-bedroom/1-bath units and a gutted basement ready for conversion into a third rental unit or left as a large shared laundry/storage area to support the two main units. Recent major updates: new roof (2025), new rear balconies (2025), and new windows (2026) significantly lowering near-term capex. Clean brick exterior, individual unit layouts ideal for long-term tenants or short-term value-add renovations. Convenient location near neighborhood amenities and transit. Strong upside for investors willing to finish the basement into an additional income-producing unit. Schedule a showing while it lasts!

16. 2026-03-24
    listed $174,900 Active 731-char remark

    Show marketing remark (731 chars)

    Investor opportunity with this solid brick triplex in Massillon at 615 Wellman Ave. Prime investment property with two vacant 2-bedroom/1-bath units and a gutted basement ready for conversion into a third rental unit or left as a large shared laundry/storage area to support the two main units. Recent major updates: new roof (2025), new rear balconies (2025), and new windows (2026) significantly lowering near-term capex. Clean brick exterior, individual unit layouts ideal for long-term tenants or short-term value-add renovations. Convenient location near neighborhood amenities and transit. Strong upside for investors willing to finish the basement into an additional income-producing unit. Schedule a showing while it lasts!

17. 2024-11-21
    soldstatus $90,000 Closed 438-char remark

    Show marketing remark (438 chars)

    Bricktastic TRIPLEX! Investors welcome! Ready for your first house hack? Live in one unit and rent out the others! 2 units fully occupied, Each boasts 2 bedrooms, 1 bath, kitchen, dining room, and living room. The 3rd unit offers its own 2 entrances and is located on the lower level. Third unit needs a full rehab, lots of opportunity on this one! Landlord pays gas, Tenants pays all other utilities. Call today for your private showing.

18. 2024-11-21
    soldstatus $90,000

    Show marketing remark (438 chars)

    Bricktastic TRIPLEX! Investors welcome! Ready for your first house hack? Live in one unit and rent out the others! 2 units fully occupied, Each boasts 2 bedrooms, 1 bath, kitchen, dining room, and living room. The 3rd unit offers its own 2 entrances and is located on the lower level. Third unit needs a full rehab, lots of opportunity on this one! Landlord pays gas, Tenants pays all other utilities. Call today for your private showing.

19. 2024-11-05
    status Pending 438-char remark

    Show marketing remark (438 chars)

    Bricktastic TRIPLEX! Investors welcome! Ready for your first house hack? Live in one unit and rent out the others! 2 units fully occupied, Each boasts 2 bedrooms, 1 bath, kitchen, dining room, and living room. The 3rd unit offers its own 2 entrances and is located on the lower level. Third unit needs a full rehab, lots of opportunity on this one! Landlord pays gas, Tenants pays all other utilities. Call today for your private showing.

20. 2024-10-25
    listed $110,000 Active 438-char remark

    Show marketing remark (438 chars)

    Bricktastic TRIPLEX! Investors welcome! Ready for your first house hack? Live in one unit and rent out the others! 2 units fully occupied, Each boasts 2 bedrooms, 1 bath, kitchen, dining room, and living room. The 3rd unit offers its own 2 entrances and is located on the lower level. Third unit needs a full rehab, lots of opportunity on this one! Landlord pays gas, Tenants pays all other utilities. Call today for your private showing.

21. 2024-10-24
    historical
22. 2024-10-15
    listed $124,900 Active
23. 2023-09-27
    historical
24. 2023-06-28
    listed $180,000 Active
25. 2022-05-05
    soldstatus $75,000 Closed
26. 2022-03-19
    status Pending
27. 2022-03-17
    listed $75,000 Active
28. 2017-01-17
    soldstatus $39,900
29. 2016-12-29
    historical
30. 2016-12-07
    price $39,900
31. 2016-12-05
    listed $59,900 Active
32. 2016-09-15
    historical
33. 2016-05-24
    price $49,900
34. 2016-03-15
    listed $59,900 Active
35. 2016-01-02
    historical
36. 2015-08-28
    listed $59,900 Active
37. 2009-05-27
    soldstatus $19,000
38. 2009-04-06
    listed $25,000
39. 2007-10-18
    historical
40. 2007-04-18
    listed $100,000
41. 2001-07-11
    soldstatus $69,500
42. 2000-11-04
    historical
43. 2000-08-18
    listed $82,900
44. 1988-02-12
    soldstatus $40,322
45. 1986-09-26
    soldstatus $40,486

ⓘ 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: $1,486 · $124/mo
• Projected year-2 tax: $2,061 · $172/mo
• Expected delta: +$575/yr (+$48/mo · 38.7%)

ⓘ 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,232
• − Mortgage interest: −$9,467
• − Property taxes: −$1,486
• − Insurance: −$845
• − Repairs & maintenance: −$3,779
• − Management: −$3,779
• − Depreciation: −$4,916
• Taxable income: $22,960
• Est. tax owed @ 24.0%: −$5,511
• After-tax cash flow: $18,836/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: Massillon City
• NCES district ID: 3904435
• Math proficiency: 43% ▼ -14.00%
• Reading proficiency: 52% ▼ -11.00%
• Median HH income: $38,094
• Composite: 39.54/100
• National rank: #3941
• State rank: #487 of 656 in OH

Livability — Massillon

• Score: 74/100
• State rank: #306
• US rank: #4928

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Massillon, OH
• County: Stark County · 272,865 people
• City population: 65,858
• Metro: Canton-Massillon, OH
• Population (ZIP): 47,741
• Household income: $69,179
• Rent vs Own: 32.2% rent · 67.8% own
• Severe rent burden: 1011.0

Population outlook (Stark County) Hauer SSP2

• Today (2025): 373,708 people
• By 2030: 371,245 · -0.7%
• By 2040: 361,331 · -3.3%
• By 2050: 345,290 · -7.6%
• By 2075: 302,669 · -19.0%
• By 2100: 238,870 · -36.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 7% Two or more races 5% Hispanic / Latino 3% Asian 1%
• Common ancestry: Lithuanian 3% Romanian 2% Scandinavian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Stark

• 2024 margin: Strong R (+21.9) · D 38.6% · R 60.5%
• 2008→2024 swing: -27.4pp toward R · 2008: 5.5pp · 2024: -21.9pp
• All cycles: 2024: R+21.9 2020: R+18.5 2016: R+17.4 2012: R+0.4 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -190.31%
• Current HPI: 217.8955
• Rent YoY: ▲ 6.04%
• Metro: Canton-Massillon, 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

+317.4% since first listed

31 events — show timeline

• 2026-04-23 Price Changed $169,000 MLSNOW
• 2026-03-24 Listed $174,900 MLSNOW
• 2024-11-21 Sold (Public Records) $90,000 Public Records
• 2024-11-21 Sold (MLS) $90,000 MLSNOW
• 2024-11-05 Pending — MLSNOW
• 2024-10-25 Listed $110,000 MLSNOW
• 2024-10-24 Listing Removed — MLSNOW
• 2024-10-15 Listed $124,900 MLSNOW
• 2023-09-27 Listing Removed — MLSNOW
• 2023-06-28 Listed $180,000 MLSNOW
• 2022-05-05 Sold (MLS) $75,000 MLSNOW
• 2022-03-19 Pending — MLSNOW
• 2022-03-17 Listed $75,000 MLSNOW
• 2017-01-17 Sold (Public Records) $39,900 Public Records
• 2016-12-29 Listing Removed — MLSNOW
• 2016-12-07 Price Changed $39,900 MLSNOW
• 2016-12-05 Listed $59,900 MLSNOW
• 2016-09-15 Listing Removed — MLSNOW
• 2016-05-24 Price Changed $49,900 MLSNOW
• 2016-03-15 Listed $59,900 MLSNOW
• 2016-01-02 Listing Removed — MLSNOW
• 2015-08-28 Listed $59,900 MLSNOW
• 2009-05-27 Sold (MLS) $19,000 MLSNOW
• 2009-04-06 Listed $25,000 MLSNOW
• 2007-10-18 Listing Removed — MLSNOW
• 2007-04-18 Listed $100,000 MLSNOW
• 2001-07-11 Sold (Public Records) $69,500 Public Records
• 2000-11-04 Listing Removed — MLSNOW
• 2000-08-18 Listed $82,900 MLSNOW
• 1988-02-12 Sold (Public Records) $40,322 Public Records
• 1986-09-26 Sold (Public Records) $40,486 Public Records

Property tax history

-0.1%/yr

Latest (2024): $1,486 · +5.5% YoY. Source: county tax records.