238 Para Ave · Akron, OH 44305

$90,000

4 bd · 1.0 ba · 1,669 sqft · SingleFamily public records · 50 Days on market

Built 1918 8,398 sqft lot $54/sqft · 19% below area Est $111k · 19% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 4-bedroom home with tons of potential in Akron! This property offers generous living space along with a 2-car garage, making it a great opportunity for investors or buyers looking to bring their vision to life. With the right updates and personal touch, this home can truly shine. Being sold as-is and priced to sell, this is your chance to build equity and create something special. Don’t miss the opportunity to transform this property into exactly what you’ve been looking for!

Key facts

• 8,398 sq ft lot
• 2 garage spots
• Built 1918

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $506 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.0% vs local median 6.6% in Akron — 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 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; 28 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• This rent runs 34% of the median local income ($53k/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 $622 of loan paydown is wiped out by about $3k 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 + 4.5% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 32y ago; this cycle's ask has dropped $20k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 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 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 1.65% ✓
• Cap rate: 13.04%
• Cash-on-cash: 24.08%
• DSCR: 2.07
• GRM: 5.1

CMA / ARV

• ARV (median comp): $110,945
• List price: $90,000
• Delta: -18.88%
• 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
296 Kryder Ave	0.24mi	4/2.0	1,724 (+3%)	1mo	$94,000	$55	79
317 Para Ave	0.14mi	3/1.0 (-1)	1,613 (-3%)	5mo	$96,000	$60	79
1529 Pilgrim St	0.31mi	3/1.0 (-1)	1,680 (+1%)	1mo	$153,000	$91	78
1265 Newton St	0.36mi	4/1.5	1,641 (-2%)	2mo	$80,000	$49	77
278 Shawnee Path	0.12mi	5/2.0 (+1)	1,622 (-3%)	6mo	$175,000	$108	76
1483 Preston Ave	0.16mi	3/1.0 (-1)	1,541 (-8%)	6mo	$72,000	$47	70
1442 Hillside Ter	0.26mi	3/1.5 (-1)	1,533 (-8%)	3mo	$70,000	$46	65
1438 Newton St	0.25mi	4/1.0	1,429 (-14%)	2mo	$90,000	$63	63
1303 Laffer Ave	0.35mi	3/2.5 (-1)	1,528 (-8%)	6mo	$219,900	$144	53
204 Morningview Ave	0.65mi	3/2.0 (-1)	1,726 (+3%)	3mo	$225,000	$130	53
1581 Hillside Ter	0.37mi	5/3.0 (+1)	1,495 (-10%)	3mo	$141,500	$95	50
1773 Marks Ave	0.50mi	3/2.0 (-1)	1,472 (-12%)	4mo	$136,700	$93	44

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: 19.1%
• Equity multiple: 1.79×
• Total profit: $19,967
• Equity at exit: $13,419

10-year hold

• IRR: 28.5%
• Equity multiple: 3.73×
• Total profit: $68,752
• Equity at exit: $7,782

Cash invested: $25,200 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,484 high
• Mortgage (P&I): −$472
• Tax from tax record: −$157 /mo · $1,884/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $506

Break-even live

Break-even rent $844

Max offer price $90,000

Occupancy floor 61%

Sensitivity live

Price	-10% $557	-5% $531	+0% $506	+5% $480	+10% $455
Rent	-10% $389	-5% $447	+0% $506	+5% $564	+10% $623
Rate	-1.0pp $551	-0.5pp $529	base $506	+0.5pp $482	+1.0pp $459

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1395 Goodyear Blvd Akron, OH	3.0	1.5	1542	$1,450	$0.94	44d	1	0.09mi
1297 Pondview Ave Akron, OH	4.0	1.0	1373	$1,450	$1.06	24d	1	0.14mi
288 Kryder Ave Akron, OH	4.0	1.0	1400	$1,450	$1.04	44d	1	0.25mi
1438 Newton St Akron, OH	4.0	1.0	1429	$1,375	$0.96	24d	1	0.28mi
1598 Pilgrim St Akron, OH	3.0	1.0	1352	$1,550	$1.15	44d	1	0.43mi
1147 Newton St Akron, OH	3.0	2.0	1932	$1,250	$0.65	22d	1	0.55mi
1318 Arnold Ave Akron, OH	3.0	1.0	1056	$1,450	$1.37	44d	1	0.70mi
578 Plum St Akron, OH	3.0	1.0	1920	$1,250	$0.65	24d	1	0.75mi
1113 Smithfarm Ave Akron, OH	3.0	2.0	1296	$1,600	$1.23	24d	1	0.76mi
77 Kent Ct Akron, OH	4.0	1.0	1300	$1,200	$0.92	44d	1	0.80mi
589 Eastland Ave Akron, OH	3.0	1.5	1345	$1,300	$0.97	44d	1	0.81mi
248 Malacca St Akron, OH	3.0	2.0	1854	$1,350	$0.73	44d	1	0.90mi
1125 2nd Ave Akron, OH	3.0	1.0	1373	$1,100	$0.80	24d	1	0.92mi
1182 5th Ave Akron, OH	3.0	1.0	1248	$1,250	$1.00	15d	1	0.93mi
1076 Ackley St Akron, OH	4.0	2.0	1998	$2,000	$1.00	15d	1	0.97mi
1071 Ackley St Akron, OH	4.0	2.0	1164	$1,175	$1.01	44d	1	0.97mi
1190 Hazel St Akron, OH	3.0	1.0	1124	$1,425	$1.27	44d	1	1.03mi
497 Lucy St Akron, OH	4.0	1.0	1600	$1,500	$0.94	44d	1	1.05mi
846 Lee Dr Akron, OH	4.0	1.0	1433	$1,325	$0.92	15d	1	1.06mi
846 Lee Dr Akron, OH	4.0	1.5	1433	$1,325	$0.92	24d	1	1.06mi
987 Boone St Akron, OH	3.0	1.0	1248	$1,100	$0.88	24d	1	1.12mi
488 Alexander St Akron, OH	4.0	2.0	1311	$1,350	$1.03	24d	1	1.13mi
1617 Osage Ave Akron, OH	3.0	1.0	1953	$1,075	$0.55	14d	1	1.20mi
990 Baird St Akron, OH	3.0	1.0	1140	$1,250	$1.10	44d	1	1.30mi
516 Whitney Ave Akron, OH	4.0	2.0	1676	$1,500	$0.89	44d	1	1.31mi
208 Denver St Akron, OH	3.0	1.0	1248	$895	$0.72	44d	1	1.33mi
1635 Bronson Rd Akron, OH	3.0	1.0	1110	$1,245	$1.12	14d	1	1.43mi
435 Margaret St Akron, OH	4.0	2.0	1900	$1,450	$0.76	44d	1	1.47mi

Listing history 19 events

1. 2026-06-07
   statusdays on market $90,000 Pending 50 DOM
2. 2026-06-05
   days on market $90,000 Active 48 DOM
3. 2026-06-03
   days on market $90,000 Active 47 DOM
4. 2026-06-02
   days on market $90,000 Active 46 DOM
5. 2026-06-01
   days on market $90,000 Active 45 DOM
6. 2026-05-31
   days on market $90,000 Active 44 DOM
7. 2026-05-31
   days on market $90,000 Active 43 DOM
8. 2026-05-09
   price $100,000 501-char remark

   Show marketing remark (501 chars)

   Spacious 4-bedroom home with tons of potential in Akron! This property offers generous living space along with a 2-car garage, making it a great opportunity for investors or buyers looking to bring their vision to life. With the right updates and personal touch, this home can truly shine. Being sold as-is and priced to sell, this is your chance to build equity and create something special. Don’t miss the opportunity to transform this property into exactly what you’ve been looking for!

9. 2026-04-17
   listed $110,000 Active 501-char remark

   Show marketing remark (501 chars)

   Spacious 4-bedroom home with tons of potential in Akron! This property offers generous living space along with a 2-car garage, making it a great opportunity for investors or buyers looking to bring their vision to life. With the right updates and personal touch, this home can truly shine. Being sold as-is and priced to sell, this is your chance to build equity and create something special. Don’t miss the opportunity to transform this property into exactly what you’ve been looking for!

10. 2006-09-11
    soldstatus $83,500
11. 2004-12-10
    soldstatus $44,500 236-char remark

    Show marketing remark (236 chars)

    Fannie Mae owned property to be sold as is. Call office to obtain special addendums that must accompany all offers or retrieve off Rapattoni system. Cash buyers need verification of funds and conventional buyers need letter of approval.

12. 2004-11-30
    historical 236-char remark

    Show marketing remark (236 chars)

    Fannie Mae owned property to be sold as is. Call office to obtain special addendums that must accompany all offers or retrieve off Rapattoni system. Cash buyers need verification of funds and conventional buyers need letter of approval.

13. 2004-09-09
    listed $52,900 236-char remark

    Show marketing remark (236 chars)

    Fannie Mae owned property to be sold as is. Call office to obtain special addendums that must accompany all offers or retrieve off Rapattoni system. Cash buyers need verification of funds and conventional buyers need letter of approval.

14. 2000-08-10
    soldstatus $75,000
15. 2000-07-13
    soldstatus $49,900
16. 2000-07-04
    historical
17. 2000-04-07
    listed $49,900
18. 1995-01-31
    soldstatus $45,000
19. 1994-10-17
    listed $46,900

ⓘ 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: $1,884 · $157/mo
• Projected year-2 tax: $1,884 · $157/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 ≥96°F today · 17 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: $17,806
• − Mortgage interest: −$5,041
• − Property taxes: −$1,884
• − Insurance: −$450
• − Repairs & maintenance: −$1,424
• − Management: −$1,424
• − Depreciation: −$2,618
• Taxable income: $4,964
• Est. tax owed @ 24.0%: −$1,191
• After-tax cash flow: $4,878/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

+113.2% since first listed

12 events — show timeline

• 2026-05-09 Price Changed $100,000 MLSNOW
• 2026-04-17 Listed $110,000 MLSNOW
• 2006-09-11 Sold (Public Records) $83,500 Public Records
• 2004-12-10 Sold (MLS) $44,500 MLSNOW
• 2004-11-30 Listing Removed — MLSNOW
• 2004-09-09 Listed $52,900 MLSNOW
• 2000-08-10 Sold (Public Records) $75,000 Public Records
• 2000-07-13 Sold (Public Records) $49,900 Public Records
• 2000-07-04 Listing Removed — MLSNOW
• 2000-04-07 Listed $49,900 MLSNOW
• 1995-01-31 Sold (Public Records) $45,000 Public Records
• 1994-10-17 Listed $46,900 MLSNOW

Property tax history

+0.4%/yr

Latest (2025): $1,884 · +0.1% YoY. Source: county tax records.