246 Grant St · Ravenna, OH 44266

$160,000

3 bd · 2.0 ba · 1,657 sqft · MultiFamily public records · 84 Days on market

Built 1920 0.28 ac lot $97/sqft · 41% above area Est $113k · 41% over

---

Why this score? — see what drove the C+ 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
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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

Great investment opportunity with this well-maintained duplex! Major exterior and mechanical updates have already been taken care of, offering peace of mind for the next owner. In 2021, the property received new siding along with a new front porch and rear porch, enhancing both curb appeal and functionality. Electrical has been updated with two new panels installed in 2023, and a new hot water tank for one unit was added in 2024. Tenants pay their own utilities, helping keep expenses low, and are currently on month-to-month leases—offering flexibility for the next owner whether you’re looking to continue renting or make future changes. With key improvements already completed, this property is ready to generate income from day one or serve as a solid addition to your portfolio. Seller is a licensed Realtor

Key facts

• 0.28 acre lot
• Built 1920
• Listed 84 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $623 ($7k/yr) — positive. Per door: $311/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 3.0% in Ravenna — 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 73/100 on livability (#323 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities F, commute F, employment F.
• Ravenna City (suburban): math 31% / reading 41% proficiency, ranked #559 of 656 in OH (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 159 active listings in the ZIP; 196 units permitted in Portage County in 2024 (10 in 5+ unit buildings).
• This rent runs 40% of the median local income ($65k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask is 18724% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $49k; list at $160k implies a 227% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 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 1920 — 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. 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: 1.36% ✓
• Cap rate: 10.96%
• Cash-on-cash: 16.68%
• DSCR: 1.74
• GRM: 6.1

CMA / ARV

• ARV (median comp): $113,266
• List price: $160,000
• Delta: 41.26%
• Verdict: OVERPRICED
• Comps: 16 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.8%
• Equity multiple: 1.31×
• Total profit: $13,767
• Equity at exit: $23,857

10-year hold

• IRR: 17.1%
• Equity multiple: 2.41×
• Total profit: $63,177
• Equity at exit: $13,834

Cash invested: $44,800 (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 44266

• Active inventory: 159
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $2,178 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$192 /mo · $2,305/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $623

Break-even live

Break-even rent $1,390

Max offer price $160,000

Occupancy floor 66%

Sensitivity live

Price	-10% $713	-5% $668	+0% $623	+5% $577	+10% $532
Rent	-10% $451	-5% $537	+0% $623	+5% $709	+10% $795
Rate	-1.0pp $703	-0.5pp $663	base $623	+0.5pp $581	+1.0pp $539

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,178
Total (2 units)			$2,178

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $160,000 Active 84 DOM
2. 2026-06-17
   days on market $160,000 Active 83 DOM
3. 2026-06-16
   days on market $160,000 Active 82 DOM
4. 2026-06-15
   days on market $160,000 Active 81 DOM
5. 2026-06-14
   days on market $160,000 Active 79 DOM
6. 2026-06-10
   days on market $160,000 Active 76 DOM
7. 2026-06-09
   days on market $160,000 Active 75 DOM
8. 2026-06-08
   days on market $160,000 Active 74 DOM
9. 2026-06-07
   days on market $160,000 Active 73 DOM
10. 2026-06-05
    days on market $160,000 Active 70 DOM
11. 2026-06-03
    days on market $160,000 Active 69 DOM
12. 2026-06-02
    days on market $160,000 Active 68 DOM
13. 2026-06-01
    days on market $160,000 Active 67 DOM
14. 2026-05-31
    days on market $160,000 Active 66 DOM
15. 2026-05-31
    days on market $160,000 Active 65 DOM
16. 2026-04-30
    price $175,000 831-char remark

    Show marketing remark (831 chars)

    Great investment opportunity with this well-maintained duplex! Major exterior and mechanical updates have already been taken care of, offering peace of mind for the next owner. In 2021, the property received new siding along with a new front porch and rear porch, enhancing both curb appeal and functionality. Electrical has been updated with two new panels installed in 2023, and a new hot water tank for one unit was added in 2024. Tenants pay their own utilities, helping keep expenses low, and are currently on month-to-month leases—offering flexibility for the next owner whether you’re looking to continue renting or make future changes. With key improvements already completed, this property is ready to generate income from day one or serve as a solid addition to your portfolio. Seller is a licensed Realtor

17. 2026-04-22
    listed $850
18. 2026-03-26
    listed $185,000 Active 831-char remark

    Show marketing remark (831 chars)

    Great investment opportunity with this well-maintained duplex! Major exterior and mechanical updates have already been taken care of, offering peace of mind for the next owner. In 2021, the property received new siding along with a new front porch and rear porch, enhancing both curb appeal and functionality. Electrical has been updated with two new panels installed in 2023, and a new hot water tank for one unit was added in 2024. Tenants pay their own utilities, helping keep expenses low, and are currently on month-to-month leases—offering flexibility for the next owner whether you’re looking to continue renting or make future changes. With key improvements already completed, this property is ready to generate income from day one or serve as a solid addition to your portfolio. Seller is a licensed Realtor

19. 2025-03-26
    historical $850
20. 2025-03-23
    listed $850
21. 2022-02-11
    soldstatus $49,000
22. 2021-02-01
    soldstatus $49,000
23. 2020-11-10
    soldstatus $32,500

ⓘ 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: $2,305 · $192/mo
• Projected year-2 tax: $2,401 · $200/mo
• Expected delta: +$95/yr (+$8/mo · 4.1%)

ⓘ 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 2/10 Low 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,136
• − Mortgage interest: −$8,962
• − Property taxes: −$2,305
• − Insurance: −$800
• − Repairs & maintenance: −$2,091
• − Management: −$2,091
• − Depreciation: −$4,655
• Taxable income: $5,232
• Est. tax owed @ 24.0%: −$1,256
• After-tax cash flow: $6,218/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: Ravenna City
• NCES district ID: 3904468
• Math proficiency: 31% ▼ -22.00%
• Reading proficiency: 41% ▼ -13.00%
• Median HH income: $40,018
• Composite: 30.19/100
• National rank: #6314
• State rank: #559 of 656 in OH

Livability — Ravenna

• Score: 73/100
• State rank: #323
• US rank: #5309

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ravenna, OH
• County: Portage County · 70,400 people
• City population: 32,612
• Metro: Akron, OH
• Population (ZIP): 32,612
• Household income: $64,918
• Rent vs Own: 31.3% rent · 68.7% own
• Severe rent burden: 1468.0

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% Black 6% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Italian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -146.76%
• Current HPI: 196.8027
• 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

+438.5% since first listed

8 events — show timeline

• 2026-04-30 Price Changed $175,000 MLSNOW
• 2026-04-22 Listed for Rent $850 RENTALBEAST
• 2026-03-26 Listed $185,000 MLSNOW
• 2025-03-26 Rental Removed $850 RENTALBEAST
• 2025-03-23 Listed for Rent $850 RENTALBEAST
• 2022-02-11 Sold (Public Records) $49,000 Public Records
• 2021-02-01 Sold (Public Records) $49,000 Public Records
• 2020-11-10 Sold (Public Records) $32,500 Public Records

Property tax history

+4.2%/yr

Latest (2025): $2,305 · +17.3% YoY. Source: county tax records.