38 Walnut Ct · Mogadore, OH 44260

$169,900

4 bd · 1.5 ba · 1,462 sqft · SingleFamily public records · 69 Days on market

Built 1917 7,400 sqft lot $116/sqft · 19% below area Est $208k · 19% under

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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).

• ARV discount +15.0/15.0
• Cash flow +8.5/30.0
• Schools +5.4/10.0
• Livability +4.4/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this beautifully updated four bed, two bath colonial in Mogadore Village!! This home is set on a quiet dead - end street with walking distance to neighborhood amenities, schools and restaurants. Leave your coat in covered porch area and step into the spacious living room with open concept dining areas. First floor living with a bedroom and bathroom on the main level. Enjoy the new roof (2021), carpet & flooring (2025), hot water tank (2026), lighting and upgrades throughout!! Take a break and relax on the private side deck and patio. This home is full of charm with built ins and storage at every turn. View today!!

Key facts

• Hot water tank
• Private side deck
• Built ins

Tags

• COVERED PORCH AREA
• PRIVATE SIDE DECK
• OPEN CONCEPT DINING AREAS
• NEW ROOF
• HOT WATER TANK
• BUILT INS

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-150 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (15.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $135k (20.5% below list).
• Recommended offer: $135k (20.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 88/100 on livability (#24 in OH, #223 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F.
• Mogadore Local (suburban): math 59% / reading 68% proficiency, ranked #228 of 656 in OH (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: O H Somers Elementary School (math 69% / reading 68%, grade B+, #434 of 1,584 statewide, top 28%, 408 students, 29% FRL); Mogadore Junior High School (math 52% / reading 67%, grade B, #271 of 654 statewide, top 43%, 134 students, 0% FRL); Mogadore High School (math 34% / reading 72%, grade C-, #336 of 781 statewide, top 43%, 221 students, 43% FRL) — zoned schools at 24% FRL track the district average.
• Market conditions: 43 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).

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.
• Summit County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y ago; this cycle's ask has dropped $9k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $170k implies a 372% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,000 (20.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.79% ✗
• Cap rate: 5.23%
• Cash-on-cash: -3.78%
• DSCR: 0.83
• GRM: 10.5

CMA / ARV

• ARV (median comp): $208,487
• List price: $169,900
• Delta: -18.51%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
122 Fenton Ave	0.34mi	3/1.0 (-1)	1,526 (+4%)	2mo	$222,500	$146	68
177 N Cleveland Ave	0.31mi	3/1.5 (-1)	1,497 (+2%)	10mo	$245,000	$164	68
103 Fenton Ave	0.30mi	3/1.0 (-1)	1,346 (-8%)	1mo	$215,000	$160	65
268 Randolph Rd	0.62mi	4/2.0	1,426 (-2%)	8mo	$275,000	$193	58
80 Fenton Ave	0.25mi	3/1.5 (-1)	1,608 (+10%)	10mo	$205,000	$127	58
3665 Curtis St	0.43mi	3/2.0 (-1)	1,580 (+8%)	5mo	$250,000	$158	56
3998 Highland Dr	0.34mi	3/2.0 (-1)	1,268 (-13%)	1mo	$265,000	$209	54
3868 Argonne St	0.64mi	3/1.5 (-1)	1,400 (-4%)	6mo	$222,000	$159	53
291 S Cleveland Ave	0.64mi	3/1.5 (-1)	1,536 (+5%)	10mo	$265,000	$173	49
3756 Curtis St	0.31mi	3/2.0 (-1)	1,260 (-14%)	8mo	$209,900	$167	48
3774 Argonne St	0.65mi	3/2.0 (-1)	1,355 (-7%)	2mo	$172,500	$127	48
3692 Orchard St	0.63mi	4/2.5	1,635 (+12%)	10mo	$237,500	$145	38

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: -22.6%
• Equity multiple: 0.22×
• Total profit: $-37,027
• Equity at exit: $25,333

10-year hold

• IRR: -16.8%
• Equity multiple: 0.07×
• Total profit: $-44,342
• Equity at exit: $14,690

Cash invested: $47,572 (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 44260

• Active inventory: 43
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,350 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$255 /mo · $3,055/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $-150

Break-even live

Break-even rent $1,540

Max offer price $143,432

Occupancy floor —

Sensitivity live

Price	-10% $-54	-5% $-102	+0% $-150	+5% $-198	+10% $-246
Rent	-10% $-256	-5% $-203	+0% $-150	+5% $-97	+10% $-43
Rate	-1.0pp $-64	-0.5pp $-107	base $-150	+0.5pp $-194	+1.0pp $-239

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3339 Samuel Rd Akron, OH	4.0	1.0	1109	$1,350	$1.22	16d	1	1.19mi

Listing history 16 events

1. 2026-05-19
   status Pending 648-char remark

   Show marketing remark (648 chars)

   Welcome home to this beautifully updated four bed, two bath colonial in Mogadore Village!! This home is set on a quiet dead - end street with walking distance to neighborhood amenities, schools and restaurants. Leave your coat in covered porch area and step into the spacious living room with open concept dining areas. First floor living with a bedroom and bathroom on the main level. Enjoy the new roof (2021), carpet & flooring (2025), hot water tank (2026), lighting and upgrades throughout!! Take a break and relax on the private side deck and patio. This home is full of charm with built ins and storage at every turn. View today!!

2. 2026-04-24
   price $169,900 648-char remark

   Show marketing remark (648 chars)

   Welcome home to this beautifully updated four bed, two bath colonial in Mogadore Village!! This home is set on a quiet dead - end street with walking distance to neighborhood amenities, schools and restaurants. Leave your coat in covered porch area and step into the spacious living room with open concept dining areas. First floor living with a bedroom and bathroom on the main level. Enjoy the new roof (2021), carpet & flooring (2025), hot water tank (2026), lighting and upgrades throughout!! Take a break and relax on the private side deck and patio. This home is full of charm with built ins and storage at every turn. View today!!

3. 2026-03-10
   listed $179,000 Active 648-char remark

   Show marketing remark (648 chars)

   Welcome home to this beautifully updated four bed, two bath colonial in Mogadore Village!! This home is set on a quiet dead - end street with walking distance to neighborhood amenities, schools and restaurants. Leave your coat in covered porch area and step into the spacious living room with open concept dining areas. First floor living with a bedroom and bathroom on the main level. Enjoy the new roof (2021), carpet & flooring (2025), hot water tank (2026), lighting and upgrades throughout!! Take a break and relax on the private side deck and patio. This home is full of charm with built ins and storage at every turn. View today!!

4. 2026-01-29
   historical
5. 2025-12-08
   price $184,000
6. 2025-09-27
   listed $189,900 Active
7. 2008-04-24
   soldstatus $36,000
8. 2008-04-02
   historical
9. 2007-10-02
   listed $72,000
10. 2006-02-27
    soldstatus $124,000
11. 2004-05-25
    soldstatus $58,000
12. 2004-04-29
    soldstatus $58,000
13. 2004-03-18
    listed $52,500
14. 2001-03-27
    soldstatus $48,800
15. 1995-04-17
    soldstatus $38,500
16. 1990-03-29
    soldstatus $43,500

ⓘ 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: $3,055 · $255/mo
• Projected year-2 tax: $3,055 · $255/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 ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,200
• − Mortgage interest: −$9,517
• − Property taxes: −$3,055
• − Insurance: −$850
• − Repairs & maintenance: −$1,296
• − Management: −$1,296
• − Depreciation: −$4,943
• Taxable loss: −$4,756
• Est. tax savings @ 24.0%: +$1,141
• After-tax cash flow: $-657/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: Mogadore Local
• NCES district ID: 3905003
• Math proficiency: 59% ▼ -15.00%
• Reading proficiency: 68% ▼ -2.00%
• Median HH income: $54,758
• Composite: 54.4/100
• National rank: #1357
• State rank: #228 of 656 in OH

Livability — Mogadore

• Score: 88/100
• State rank: #24
• US rank: #223

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mogadore, OH
• County: Portage · 165,699 people
• Metro: Akron, OH
• Population (ZIP): 12,733
• Household income: $75,261
• Rent vs Own: 13.4% rent · 86.6% own
• Severe rent burden: 5.2

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: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 5% Hispanic / Latino 1%
• Common ancestry: Iranian 3% Romanian 3% Serbian 2%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Russian/Polish/Slavic 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: ▼ -175.20%
• Current HPI: 193.6093
• Rent YoY: —
• Metro: —
• 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

+290.6% since first listed

16 events — show timeline

• 2026-05-19 Pending — MLSNOW
• 2026-04-24 Price Changed $169,900 MLSNOW
• 2026-03-10 Listed $179,000 MLSNOW
• 2026-01-29 Listing Removed — MLSNOW
• 2025-12-08 Price Changed $184,000 MLSNOW
• 2025-09-27 Listed $189,900 MLSNOW
• 2008-04-24 Sold (MLS) $36,000 MLSNOW
• 2008-04-02 Listing Removed — MLSNOW
• 2007-10-02 Listed $72,000 MLSNOW
• 2006-02-27 Sold (Public Records) $124,000 Public Records
• 2004-05-25 Sold (Public Records) $58,000 Public Records
• 2004-04-29 Sold (MLS) $58,000 MLSNOW
• 2004-03-18 Listed $52,500 MLSNOW
• 2001-03-27 Sold (Public Records) $48,800 Public Records
• 1995-04-17 Sold (Public Records) $38,500 Public Records
• 1990-03-29 Sold (Public Records) $43,500 Public Records

Property tax history

+2.2%/yr

Latest (2025): $3,055 · +12.0% YoY. Source: county tax records.