999 Renninger Rd · New Franklin, OH 44319

$143,000

2 bd · 1.0 ba · 972 sqft · Condo public records · 39 Days on market

Built 1973

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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 +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +6.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice 2 bedroom, 1.5 bath townhouse in gorgeous Fountain Pointe. This home has large rooms, full finished basement, great layout, 2 big bedrooms, and great kitchen. This property is eligible under Freddie Mac First Look Initiative through 02/03/2015. As is Sale. Buyer will need to verify all information. Buyer or buyer's agent responsible to check all Building, Zoning, EPA, DEA, Tax Dept or any other requirement for intended use. Buyer to pay for inspections. Earnest money to be a Cashiers check. Subject to clear title.

Key facts

• Finished basement
• Granite countertops
• Back concrete patio

Tags

• FINISHED BASEMENT
• GRANITE COUNTERTOPS
• BACK CONCRETE PATIO
• VINYL FENCING
• FOUNTAIN IN COURTYARD
• DEDICATED PARKING SPOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $143k.

Deal economics

• At list price, monthly cash flow is $384 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $143k).
• Recommended offer: $139k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 4.3% in New Franklin — 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 71/100 on livability (#424 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Manchester Local (suburban): math 71% / reading 75% proficiency, ranked #112 of 656 in OH (top 17%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 90 active listings in the ZIP; 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 $989 of loan paydown is wiped out by about $4k 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 $40k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($139k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y 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 $27k; list at $143k implies a 430% gain — meaningful room to come down on a strong offer.

Recommended offer $138,710 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.15% ✓
• Cap rate: 9.52%
• Cash-on-cash: 11.51%
• DSCR: 1.51
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $1,280
• Equity at exit: $21,322

10-year hold

• IRR: 10.5%
• Equity multiple: 1.81×
• Total profit: $32,549
• Equity at exit: $12,364

Cash invested: $40,040 (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 44319

• Active inventory: 90
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,648 medium
• Mortgage (P&I): −$750
• Tax from tax record: −$108 /mo · $1,299/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $384

Break-even live

Break-even rent $1,162

Max offer price $143,000

Occupancy floor 72%

Sensitivity live

Price	-10% $465	-5% $425	+0% $384	+5% $344	+10% $303
Rent	-10% $254	-5% $319	+0% $384	+5% $449	+10% $514
Rate	-1.0pp $456	-0.5pp $421	base $384	+0.5pp $347	+1.0pp $309

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: $35,750
• Closing costs: $4,290
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-21
   days on market $143,000 Active 39 DOM
2. 2026-06-18
   days on market $143,000 Active 37 DOM
3. 2026-06-17
   days on market $143,000 Active 36 DOM
4. 2026-06-17
   price $143,000 Active 35 DOM
5. 2026-06-16
   days on market $145,500 Active 35 DOM
6. 2026-06-15
   days on market $145,500 Active 34 DOM
7. 2026-06-13
   days on market $145,500 Active 32 DOM
8. 2026-06-12
   days on market $145,500 Active 31 DOM
9. 2026-06-09
   days on market $145,500 Active 28 DOM
10. 2026-06-08
    days on market $145,500 Active 27 DOM
11. 2026-06-08
    days on market $145,500 Active 26 DOM
12. 2026-06-07
    days on market $145,500 Active 25 DOM
13. 2026-06-04
    days on market $145,500 Active 22 DOM
14. 2026-06-02
    days on market $145,500 Active 21 DOM
15. 2026-06-01
    days on market $145,500 Active 20 DOM
16. 2026-05-31
    days on market $145,500 Active 19 DOM
17. 2026-05-12
    listed $145,500 Active
18. 2015-07-10
    soldstatus $27,000 Sold 524-char remark

    Show marketing remark (524 chars)

    Nice 2 bedroom, 1.5 bath townhouse in gorgeous Fountain Pointe. This home has large rooms, full finished basement, great layout, 2 big bedrooms, and great kitchen. This property is eligible under Freddie Mac First Look Initiative through 02/03/2015. As is Sale. Buyer will need to verify all information. Buyer or buyer's agent responsible to check all Building, Zoning, EPA, DEA, Tax Dept or any other requirement for intended use. Buyer to pay for inspections. Earnest money to be a Cashiers check. Subject to clear title.

19. 2015-05-27
    status Pending 524-char remark

    Show marketing remark (524 chars)

    Nice 2 bedroom, 1.5 bath townhouse in gorgeous Fountain Pointe. This home has large rooms, full finished basement, great layout, 2 big bedrooms, and great kitchen. This property is eligible under Freddie Mac First Look Initiative through 02/03/2015. As is Sale. Buyer will need to verify all information. Buyer or buyer's agent responsible to check all Building, Zoning, EPA, DEA, Tax Dept or any other requirement for intended use. Buyer to pay for inspections. Earnest money to be a Cashiers check. Subject to clear title.

20. 2015-05-17
    historical Contingent 524-char remark

    Show marketing remark (524 chars)

    Nice 2 bedroom, 1.5 bath townhouse in gorgeous Fountain Pointe. This home has large rooms, full finished basement, great layout, 2 big bedrooms, and great kitchen. This property is eligible under Freddie Mac First Look Initiative through 02/03/2015. As is Sale. Buyer will need to verify all information. Buyer or buyer's agent responsible to check all Building, Zoning, EPA, DEA, Tax Dept or any other requirement for intended use. Buyer to pay for inspections. Earnest money to be a Cashiers check. Subject to clear title.

21. 2015-04-28
    price $34,900 524-char remark

    Show marketing remark (524 chars)

    Nice 2 bedroom, 1.5 bath townhouse in gorgeous Fountain Pointe. This home has large rooms, full finished basement, great layout, 2 big bedrooms, and great kitchen. This property is eligible under Freddie Mac First Look Initiative through 02/03/2015. As is Sale. Buyer will need to verify all information. Buyer or buyer's agent responsible to check all Building, Zoning, EPA, DEA, Tax Dept or any other requirement for intended use. Buyer to pay for inspections. Earnest money to be a Cashiers check. Subject to clear title.

22. 2015-03-25
    price $44,900 524-char remark

    Show marketing remark (524 chars)

    Nice 2 bedroom, 1.5 bath townhouse in gorgeous Fountain Pointe. This home has large rooms, full finished basement, great layout, 2 big bedrooms, and great kitchen. This property is eligible under Freddie Mac First Look Initiative through 02/03/2015. As is Sale. Buyer will need to verify all information. Buyer or buyer's agent responsible to check all Building, Zoning, EPA, DEA, Tax Dept or any other requirement for intended use. Buyer to pay for inspections. Earnest money to be a Cashiers check. Subject to clear title.

23. 2015-03-04
    listed $49,900 Active 524-char remark

    Show marketing remark (524 chars)

    Nice 2 bedroom, 1.5 bath townhouse in gorgeous Fountain Pointe. This home has large rooms, full finished basement, great layout, 2 big bedrooms, and great kitchen. This property is eligible under Freddie Mac First Look Initiative through 02/03/2015. As is Sale. Buyer will need to verify all information. Buyer or buyer's agent responsible to check all Building, Zoning, EPA, DEA, Tax Dept or any other requirement for intended use. Buyer to pay for inspections. Earnest money to be a Cashiers check. Subject to clear title.

24. 2003-12-27
    historical
25. 2003-08-27
    listed $63,900
26. 1994-06-24
    soldstatus $25,000

ⓘ 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: $1,299 · $108/mo
• Projected year-2 tax: $1,765 · $147/mo
• Expected delta: +$466/yr (+$39/mo · 35.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $19,776
• − Mortgage interest: −$8,010
• − Property taxes: −$1,299
• − Insurance: −$715
• − Repairs & maintenance: −$1,582
• − Management: −$1,582
• − Depreciation: −$4,160
• Taxable income: $2,428
• Est. tax owed @ 24.0%: −$583
• After-tax cash flow: $4,028/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: Manchester Local
• NCES district ID: 3905000
• Math proficiency: 71% ▼ -11.00%
• Reading proficiency: 75% ▼ -4.00%
• Median HH income: $62,055
• Composite: 63.0/100
• National rank: #653
• State rank: #112 of 656 in OH

Livability — New Franklin

• Score: 71/100
• State rank: #424
• US rank: #6949

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Franklin, OH
• County: Summit · 539,389 people
• Metro: Akron, OH
• Population (ZIP): 21,469
• Household income: $74,781
• Rent vs Own: 25.6% rent · 74.4% own
• Severe rent burden: 12.4

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Black 2% Hispanic / Latino 2% Asian 2%
• Common ancestry: Romanian 5% Slovak 2% Serbian 1%
• Foreign-born: 2% · China, Vietnam
• Languages at home: 97% English-only · Other Indo-European 1% Spanish 1% Chinese 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: ▼ -236.58%
• Current HPI: 213.2267
• 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

+482.0% since first listed

10 events — show timeline

• 2026-05-12 Listed $145,500 FSBO.com
• 2015-07-10 Sold (MLS) $27,000 MLSNOW
• 2015-05-27 Pending — MLSNOW
• 2015-05-17 Contingent — MLSNOW
• 2015-04-28 Price Changed $34,900 MLSNOW
• 2015-03-25 Price Changed $44,900 MLSNOW
• 2015-03-04 Listed $49,900 MLSNOW
• 2003-12-27 Listing Removed — MLSNOW
• 2003-08-27 Listed $63,900 MLSNOW
• 1994-06-24 Sold (Public Records) $25,000 Public Records

Property tax history

-1.7%/yr

Latest (2025): $1,299 · +3.8% YoY. Source: county tax records.