1024 Rex Ave NE · Canton, OH 44704

$79,000

3 bd · 1.0 ba · 1,284 sqft · SingleFamily public records · 26 Days on market

Built 1913 2,304 sqft lot Est $83k · 5% under ↓ 1% since listing

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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
• DSCR +10.0/10.0
• ARV discount +9.9/15.0
• 1% rule +8.7/10.0
• Appreciation +8.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks

Welcome to 1024 Rex — a fantastic investment opportunity packed with potential! This charming home offers 3 bedrooms, including a convenient main-floor bedroom that provides flexible living options for owners or tenants alike. Whether you're an investor looking to expand your portfolio or a buyer ready to put your personal touch on a home, this property presents endless possibilities. With solid bones and a functional layout, there’s plenty of room to add value and make it shine. The additional bedrooms provide comfortable space for family, guests, or rental potential, while the main-floor bedroom adds extra convenience and versatility.

Key facts

• 2,304 sq ft lot
• Built 1913
• Listed 26 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $353 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $78k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.7% vs local median 5.1% in Canton — 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 (#441 in OH) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A; Watch: crime F, employment F.
• Canton City (urban): math 17% / reading 26% proficiency, ranked #627 of 656 in OH (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 20 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 528 units permitted in Stark County in 2024 (84 in 5+ unit buildings).
• This rent runs 38% of the median local income ($34k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $5k of equity ($546 loan paydown + $5k appreciation (6.2% local appreciation)).
• Stark County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.2% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y ago; this cycle's ask has dropped $6k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,815 (1.5% below list)

Questions for the listing agent

1. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.37% ✓
• Cap rate: 11.65%
• Cash-on-cash: 19.14%
• DSCR: 1.85
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $83,460
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1161 Spring Ave NE	0.19mi	3/2.0	1,250 (-3%)	3mo	$25,000	$20	80
1446 Downing Ct NE	0.47mi	3/1.0	1,248 (-3%)	1mo	$10,000	$8	72
601 Melrose Pl NE	0.40mi	3/1.0	1,158 (-10%)	2mo	$75,000	$65	63
1525 14th St NE	0.71mi	3/1.0	1,264 (-2%)	2mo	$21,900	$17	62
1544 Spring Ave NE	0.59mi	3/1.0	1,218 (-5%)	4mo	$71,500	$59	61
1521 Gibbs Ave NE	0.61mi	3/1.0	1,360 (+6%)	1mo	$109,900	$81	61
715 6th St NE	0.40mi	3/1.0	1,096 (-15%)	1mo	$117,900	$108	56
706 Harriet Ave NW	0.69mi	3/1.0	1,384 (+8%)	3mo	$92,000	$66	52
1629 Gibbs Ave NE	0.68mi	3/1.0	1,152 (-10%)	0mo	$75,000	$65	51
1611 Rowland Ave NE	0.72mi	3/1.0	1,152 (-10%)	6mo	$102,000	$89	44
1316 4th St NE	0.71mi	2/1.0 (-1)	1,152 (-10%)	2mo	$58,000	$50	43
1227 Worley Ave NW	0.61mi	3/2.0	1,092 (-15%)	3mo	$120,000	$110	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.17% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.7%
• Equity multiple: 3.08×
• Total profit: $46,063
• Equity at exit: $50,507

10-year hold

• IRR: 29.4%
• Equity multiple: 6.32×
• Total profit: $117,675
• Equity at exit: $92,331

Cash invested: $22,120 (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 44704

• Home prices YoY: 7.2%
• Active inventory: 20
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,085 high
• Mortgage (P&I): −$414
• Tax from tax record: −$57 /mo · $683/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $353

Break-even live

Break-even rent $638

Max offer price $79,000

Occupancy floor 62%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
924 Spring Ave NE Canton, OH	4.0	1.5	1407	$1,395	$0.99	21d	1	0.20mi
1220 Market Ave N Unit 4 Canton, OH	3.0	1.0	1400	$1,100	$0.79	43d	1	0.23mi
1206 Lawrence Rd NE Apt 3 Canton, OH	2.0	1.0	900	$950	$1.06	21d	1	0.38mi
1307 Woodland Ave NW Unit 2 Canton, OH	2.0	1.0	973	$675	$0.69	43d	1	0.48mi
1613 Spring Ave NE Canton, OH	3.0	1.0	1320	$1,095	$0.83	21d	1	0.59mi
1629 Spring Ave NE Unit Na Canton, OH	2.0	1.0	1100	$836	$0.76	21d	1	0.62mi
123 17th St NW Canton, OH	2.0	1.0–1.5	766	$1,050	$1.37	13d	1	0.67mi
316 Young Ave NE Canton, OH	4.0	1.0	1268	$1,050	$0.83	13d	1	0.76mi
1008 14th St NW Canton, OH	3.0	1.5	1100	$898	$0.82	21d	1	0.77mi
1137 7th St NW Canton, OH	3.0	1.0	1736	$1,095	$0.63	43d	1	0.86mi
1016 2nd St NW Canton, OH	1.0–3.0	1.0–2.0	916	$1,050	$1.15	13d	20	0.87mi
1511 2nd St NE Canton, OH	3.0	1.0	1129	$1,250	$1.11	43d	1	0.88mi
1216 14th St NW Canton, OH	3.0	1.0	1352	$1,100	$0.81	21d	1	0.92mi
1224 15th St NW Unit 1 Canton, OH	2.0	1.0	900	$749	$0.83	21d	1	0.99mi
1421 Piper Ct NW Canton, OH	3.0	1.5	1311	$995	$0.76	21d	1	1.01mi
1100 5th St SW Canton, OH	4.0	1.0	1397	$1,200	$0.86	43d	1	1.06mi
1906 6th St NE Unit 1906-002 Canton, OH	3.0	1.0	906	$1,000	$1.10	13d	1	1.11mi
1946 Otto Pl NE Canton, OH	3.0	1.0	1499	$28,000	$18.68	13d	1	1.19mi
1000 Market Ave S Canton, OH	1.0–2.0	1.0–2.0	1500	$4,505	$3.00	13d	12	1.20mi
2018 Maple Ave NE Canton, OH	2.0	1.0	1206	$950	$0.79	13d	1	1.23mi
1029 23rd St NW Canton, OH	3.0	1.0	1356	$1,500	$1.11	13d	1	1.33mi
2213 17th St NE Canton, OH	2.0	1.0	1132	$1,100	$0.97	44d	1	1.36mi
2048 2nd St NE Unit 2048 Canton, OH	2.0	1.0	1092	$950	$0.87	13d	1	1.36mi

Listing history 11 events

1. 2026-03-31
   status Pending
2. 2026-03-09
   price $79,000
3. 2026-03-05
   listed $85,000 Active
4. 2007-07-31
   historical
5. 2006-10-23
   listed $35,000
6. 2005-01-06
   soldstatus $262,000
7. 2003-11-20
   historical
8. 2002-11-20
   listed $33,900
9. 2002-06-01
   historical
10. 2002-01-07
    listed $34,000
11. 1998-10-02
    soldstatus $80,000

ⓘ 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: $683 · $57/mo
• Projected year-2 tax: $958 · $80/mo
• Expected delta: +$275/yr (+$23/mo · 40.2%)

ⓘ 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,017
• − Mortgage interest: −$4,425
• − Property taxes: −$683
• − Insurance: −$395
• − Repairs & maintenance: −$1,041
• − Management: −$1,041
• − Depreciation: −$2,298
• Taxable income: $3,132
• Est. tax owed @ 24.0%: −$752
• After-tax cash flow: $3,482/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: Canton City
• NCES district ID: 3904371
• Math proficiency: 17% ▼ -17.00%
• Reading proficiency: 26% ▼ -12.00%
• Median HH income: $28,825
• Composite: 17.1/100
• National rank: #9116
• State rank: #627 of 656 in OH

Livability — Canton

• Score: 71/100
• State rank: #441
• US rank: #7259

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Canton, OH
• County: Stark · 366,688 people
• City population: 103,614
• Metro: Canton-Massillon, OH
• Population (ZIP): 3,583
• Household income: $34,063
• Rent vs Own: 45.3% rent · 54.7% own
• Severe rent burden: 10.1

Population outlook (Stark County) Hauer SSP2

• Today (2025): 373,708 people
• By 2030: 371,245 · -0.7%
• By 2040: 361,331 · -3.3%
• By 2050: 345,290 · -7.6%
• By 2075: 302,669 · -19.0%
• By 2100: 238,870 · -36.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 58% White 33% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Hispanic 3% Romanian 1% Polish 1%

Political lean MEDSL · Stark

• 2024 margin: Strong R (+21.9) · D 38.6% · R 60.5%
• 2008→2024 swing: -27.4pp toward R · 2008: 5.5pp · 2024: -21.9pp
• All cycles: 2024: R+21.9 2020: R+18.5 2016: R+17.4 2012: R+0.4 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.17%
• Current HPI: 91.3426
• 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

-1.2% since first listed

11 events — show timeline

• 2026-03-31 Pending — MLSNOW
• 2026-03-09 Price Changed $79,000 MLSNOW
• 2026-03-05 Listed $85,000 MLSNOW
• 2007-07-31 Listing Removed — MLSNOW
• 2006-10-23 Listed $35,000 MLSNOW
• 2005-01-06 Sold (Public Records) $262,000 Public Records
• 2003-11-20 Listing Removed — MLSNOW
• 2002-11-20 Listed $33,900 MLSNOW
• 2002-06-01 Listing Removed — MLSNOW
• 2002-01-07 Listed $34,000 MLSNOW
• 1998-10-02 Sold (Public Records) $80,000 Public Records

Property tax history

+1.8%/yr

Latest (2024): $683 · +71.5% YoY. Source: county tax records.