308 - 310 Cluster Ave · Akron, OH 44305

$189,900

4 bd · 2.0 ba · 1,400 sqft · MultiFamily public records · 7 Days on market

Built 1963 7,479 sqft lot Est $171k · 11% over

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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).

• Cash flow +21.3/30.0
• DSCR +6.8/10.0
• 1% rule +5.5/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• ARV discount +2.5/15.0
• 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

All Brick Twinplex w/ attached Garage for each unit! Ready to rent! Live in one side, rent the other. Great investment at a great price! This is a Fannie Mae HomePath Property. Purchase this property for as little as 3% down! This property is approved for HomePath Mortgage And HomePath Renovation Mortgage Financing.

Key facts

• Long term tenants
• Fully occupied
• All brick exterior

Tags

• WELL MAINTAINED DUPLEX
• FULLY OCCUPIED
• LONG TERM TENANTS
• ALL BRICK EXTERIOR
• LARGE CONCRETE PARKING AREA
• EASY ACCESS TO AMENITIES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive. Per door: $139/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Cap rate 8.1% vs local median 6.6% in Akron — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Rents rising fast (+4.5%/yr); 101 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• At $1,989/mo this rent would consume 45% of the median local household income ($53k/yr) (locally 1021% 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 $6k 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.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 14y 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 $45k; list at $190k implies a 325% gain — meaningful room to come down on a strong offer.

Recommended offer $189,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.05% ✓
• Cap rate: 8.05%
• Cash-on-cash: 6.29%
• DSCR: 1.28
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $170,800
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
280 Cluster Ave	0.06mi	4/2.0	1,440 (+3%)	1mo	$184,000	$128	92
1991-1993 Congo St	0.07mi	4/2.0	1,464 (+5%)	3mo	$207,000	$141	87
1939 Preston Ave	0.34mi	4/2.0	1,440 (+3%)	11mo	$176,250	$122	70
1931 Preston Ave	0.35mi	4/2.0	1,440 (+3%)	11mo	$176,250	$122	70
1925 Preston Ave	0.35mi	4/2.0	1,440 (+3%)	11mo	$176,250	$122	70
1919 Preston Ave	0.36mi	4/2.0	1,440 (+3%)	11mo	$176,250	$122	69
1946 Preston Ave	0.37mi	4/2.0	1,440 (+3%)	20mo	$130,000	$90	61
2347-2349 Nicholas Ave	0.74mi	5/3.0 (+1)	1,560 (+11%)	0mo	$167,000	$107	37
1738 Flint Ave	0.74mi	3/2.0 (-1)	1,536 (+10%)	22mo	$125,000	$81	26

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 · 4.51% rent growth · sell at horizon

5-year hold

• IRR: -4.9%
• Equity multiple: 0.81×
• Total profit: $-9,938
• Equity at exit: $28,315

10-year hold

• IRR: 6.4%
• Equity multiple: 1.51×
• Total profit: $27,253
• Equity at exit: $16,419

Cash invested: $53,172 (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 44305

• Rents YoY: 4.5%
• Active inventory: 101
• Price-to-rent: 15.9×

Monthly cashflow live

• Estimated rent: $1,989 high
• Mortgage (P&I): −$996
• Tax from tax record: −$218 /mo · $2,612/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $279

Break-even live

Break-even rent $1,636

Max offer price $189,900

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,990
Total (2 units)			$1,989

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
248 Malacca St Akron, OH	3.0	2.0	1854	$1,350	$0.73	44d	1	0.14mi
1598 Pilgrim St Akron, OH	3.0	1.0	1352	$1,550	$1.15	44d	1	0.69mi
1438 Newton St Akron, OH	4.0	1.0	1429	$1,375	$0.96	23d	1	0.99mi
1395 Goodyear Blvd Akron, OH	3.0	1.5	1542	$1,450	$0.94	44d	1	1.04mi
1297 Pondview Ave Akron, OH	4.0	1.0	1373	$1,450	$1.06	23d	1	1.18mi
288 Kryder Ave Akron, OH	4.0	1.0	1400	$1,450	$1.04	44d	1	1.21mi
1635 Bronson Rd Akron, OH	3.0	1.0	1110	$1,245	$1.12	14d	1	1.24mi
1318 Arnold Ave Akron, OH	3.0	1.0	1056	$1,450	$1.37	44d	1	1.28mi
589 Eastland Ave Akron, OH	3.0	1.5	1345	$1,300	$0.97	44d	1	1.29mi
208 Barder Ave Akron, OH	3.0	1.0	924	$1,050	$1.14	44d	1	1.34mi

Listing history 7 events

1. 2026-06-18
   days on market $189,900 Active 7 DOM
2. 2026-06-17
   days on market $189,900 Active 6 DOM
3. 2026-06-16
   days on market $189,900 Active 5 DOM
4. 2026-06-15
   days on market $189,900 Active 4 DOM
5. 2026-06-14
   days on market $189,900 Active 2 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $189,900 Active 1 DOM

ⓘ 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: $2,612 · $218/mo
• Projected year-2 tax: $2,787 · $232/mo
• Expected delta: +$175/yr (+$15/mo · 6.7%)

ⓘ 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 · 16 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: $23,868
• − Mortgage interest: −$10,637
• − Property taxes: −$2,612
• − Insurance: −$950
• − Repairs & maintenance: −$1,909
• − Management: −$1,909
• − Depreciation: −$5,524
• Taxable income: $326
• Est. tax owed @ 24.0%: −$78
• After-tax cash flow: $3,266/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): 21,103
• Household income: $52,768
• Rent vs Own: 42.7% rent · 57.3% own
• Severe rent burden: 1021.0

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 0.57)
• Race & ethnicity: White 62% Black 20% Two or more races 12% Asian 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 3% Slovak 2% Romanian 2%
• Foreign-born: 4% · India, Philippines, Canada
• Languages at home: 94% English-only · Other Asian/Pacific 3% Other Indo-European 1% Spanish 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: ▼ -140.39%
• Current HPI: 190.6223
• Rent YoY: ▲ 4.51%
• 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

+280.6% since first listed

6 events — show timeline

• 2026-06-11 Listed $189,900 MLSNOW
• 2013-05-01 Sold (Public Records) $44,700 Public Records
• 2013-04-30 Sold (MLS) $44,700 MLSNOW
• 2013-04-16 Listed $46,900 MLSNOW
• 2013-03-29 Listing Removed — MLSNOW
• 2012-12-13 Listed $49,900 MLSNOW

Property tax history

+1.4%/yr

Latest (2025): $2,612 · -2.2% YoY. Source: county tax records.