253 Aqua Blvd · Portage Lakes, OH 44319

$685,000

2 bd · 1.0 ba · 2,076 sqft · SingleFamily public records · 7 Days on market

Built 1916 6,843 sqft lot $330/sqft · 32% above area Est $595k · 15% over

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Why this score? — see what drove the F 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).

• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.7/15.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this stunning lakefront home situated on the main chain of Portage Lakes. This inviting home has a WOW factor. This is a four level split home with a two car attached garage. There are three nicely sized bedrooms and three full baths. There are also two full kitchens in this home. Upon entry at the front door, there is a large kitchen and dining room overlooking the huge windows to the lake and a full bathroom on this floor. Upstairs, there are two additional bedrooms and a full bathroom. In the lower level, there is a huge family room and laundry room. In the lowest level of the home, there is another kitchen, living room, bedroom and a full bath. This home has been renovated from top to bottom. There is new siding, a new metal roof, new HVAC, a tankless hot water tank, all new appliances, back deck, and a new dock. This home is absolutely move in ready and awaiting a new owner. This lakefront beauty that is situated on the East Reservoir is fabulous. Stop looking and start packing!! Call to schedule a showing today to be in before boating season!! Please check out the view tour!!

Key facts

• New metal roof
• New siding
• New hvac

Tags

• LAKEFRONT HOME
• TWO FULL KITCHENS
• HUGE WINDOWS TO THE LAKE
• NEW SIDING
• NEW METAL ROOF
• NEW HVAC

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $685k.

Deal economics

• At list price, monthly cash flow is $-3k ($-40k/yr) — negative.
• To cash-flow at today's rent, offer at most $199k (70.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $179k (73.9% below list).
• Recommended offer: $179k (73.9% below list) — sets the bar for 1% rule.
• Cap rate 0.5% vs local median 13.7% in Portage Lakes — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 64/100 on livability (#772 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D+, schools D-, amenities F.
• Coventry Local (suburban): math 52% / reading 64% proficiency, ranked #315 of 656 in OH (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• 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 $5k of loan paydown is wiped out by about $21k 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.
• Current owner paid $150k; list at $685k implies a 357% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $179,076 (73.9% 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. Built in 1916 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 0.26% ✗
• Cap rate: 0.52%
• Cash-on-cash: -20.60%
• DSCR: 0.08
• GRM: 31.9

CMA / ARV

• ARV (median comp): $595,185
• List price: $685,000
• Delta: 17.59%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
347 Dorwil Dr	0.27mi	3/2.0 (+1)	2,160 (+4%)	3mo	$675,000	$313	69
3545 Malley Ave	0.42mi	3/3.0 (+1)	1,900 (-8%)	2mo	$560,000	$295	52
136 Wymore Ave	0.28mi	3/2.5 (+1)	1,936 (-7%)	17mo	$660,000	$341	51
123 Wymore Ave	0.31mi	3/2.5 (+1)	1,928 (-7%)	19mo	$585,000	$303	46

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: -59.4%
• Equity multiple: -0.67×
• Total profit: $-320,692
• Equity at exit: $102,136

10-year hold

• IRR: —
• Equity multiple: -1.86×
• Total profit: $-549,237
• Equity at exit: $59,226

Cash invested: $191,800 (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: 31.9×

Monthly cashflow live

• Estimated rent: $1,791 medium
• Mortgage (P&I): −$3,592
• Tax from tax record: −$830 /mo · $9,955/yr
• Insurance: −$285
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $-3,293

Break-even live

Break-even rent $5,959

Max offer price $199,106

Occupancy floor —

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: $171,250
• Closing costs: $20,550
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $685,000 Active 7 DOM
2. 2026-06-17
   days on market $685,000 Active 6 DOM
3. 2026-06-16
   days on market $685,000 Active 5 DOM
4. 2026-06-15
   days on market $685,000 Active 4 DOM
5. 2026-06-14
   days on market $685,000 Active 2 DOM
6. 2026-06-13
   pricedays on marketlisting id $685,000 Active 1 DOM
7. 2026-06-10
   days on market $699,900 Active 105 DOM
8. 2026-06-09
   days on market $699,900 Active 104 DOM
9. 2026-06-08
   days on market $699,900 Active 103 DOM
10. 2026-06-07
    days on market $699,900 Active 102 DOM
11. 2026-06-03
    days on market $699,900 Active 98 DOM
12. 2026-06-02
    days on market $699,900 Active 97 DOM
13. 2026-06-01
    days on market $699,900 Active 96 DOM
14. 2026-05-31
    days on market $699,900 Active 95 DOM
15. 2026-05-31
    days on market $699,900 Active 94 DOM
16. 2026-05-18
    price $710,000 1111-char remark

    Show marketing remark (1111 chars)

    Welcome to this stunning lakefront home situated on the main chain of Portage Lakes. This inviting home has a WOW factor. This is a four level split home with a two car attached garage. There are three nicely sized bedrooms and three full baths. There are also two full kitchens in this home. Upon entry at the front door, there is a large kitchen and dining room overlooking the huge windows to the lake and a full bathroom on this floor. Upstairs, there are two additional bedrooms and a full bathroom. In the lower level, there is a huge family room and laundry room. In the lowest level of the home, there is another kitchen, living room, bedroom and a full bath. This home has been renovated from top to bottom. There is new siding, a new metal roof, new HVAC, a tankless hot water tank, all new appliances, back deck, and a new dock. This home is absolutely move in ready and awaiting a new owner. This lakefront beauty that is situated on the East Reservoir is fabulous. Stop looking and start packing!! Call to schedule a showing today to be in before boating season!! Please check out the view tour!!

17. 2026-04-21
    price $724,900 1111-char remark

    Show marketing remark (1111 chars)

    Welcome to this stunning lakefront home situated on the main chain of Portage Lakes. This inviting home has a WOW factor. This is a four level split home with a two car attached garage. There are three nicely sized bedrooms and three full baths. There are also two full kitchens in this home. Upon entry at the front door, there is a large kitchen and dining room overlooking the huge windows to the lake and a full bathroom on this floor. Upstairs, there are two additional bedrooms and a full bathroom. In the lower level, there is a huge family room and laundry room. In the lowest level of the home, there is another kitchen, living room, bedroom and a full bath. This home has been renovated from top to bottom. There is new siding, a new metal roof, new HVAC, a tankless hot water tank, all new appliances, back deck, and a new dock. This home is absolutely move in ready and awaiting a new owner. This lakefront beauty that is situated on the East Reservoir is fabulous. Stop looking and start packing!! Call to schedule a showing today to be in before boating season!! Please check out the view tour!!

18. 2026-03-28
    price $749,900 1111-char remark

    Show marketing remark (1111 chars)

    Welcome to this stunning lakefront home situated on the main chain of Portage Lakes. This inviting home has a WOW factor. This is a four level split home with a two car attached garage. There are three nicely sized bedrooms and three full baths. There are also two full kitchens in this home. Upon entry at the front door, there is a large kitchen and dining room overlooking the huge windows to the lake and a full bathroom on this floor. Upstairs, there are two additional bedrooms and a full bathroom. In the lower level, there is a huge family room and laundry room. In the lowest level of the home, there is another kitchen, living room, bedroom and a full bath. This home has been renovated from top to bottom. There is new siding, a new metal roof, new HVAC, a tankless hot water tank, all new appliances, back deck, and a new dock. This home is absolutely move in ready and awaiting a new owner. This lakefront beauty that is situated on the East Reservoir is fabulous. Stop looking and start packing!! Call to schedule a showing today to be in before boating season!! Please check out the view tour!!

19. 2026-02-25
    listed $780,000 Active 1111-char remark

    Show marketing remark (1111 chars)

    Welcome to this stunning lakefront home situated on the main chain of Portage Lakes. This inviting home has a WOW factor. This is a four level split home with a two car attached garage. There are three nicely sized bedrooms and three full baths. There are also two full kitchens in this home. Upon entry at the front door, there is a large kitchen and dining room overlooking the huge windows to the lake and a full bathroom on this floor. Upstairs, there are two additional bedrooms and a full bathroom. In the lower level, there is a huge family room and laundry room. In the lowest level of the home, there is another kitchen, living room, bedroom and a full bath. This home has been renovated from top to bottom. There is new siding, a new metal roof, new HVAC, a tankless hot water tank, all new appliances, back deck, and a new dock. This home is absolutely move in ready and awaiting a new owner. This lakefront beauty that is situated on the East Reservoir is fabulous. Stop looking and start packing!! Call to schedule a showing today to be in before boating season!! Please check out the view tour!!

20. 2022-07-13
    soldstatus $150,000

ⓘ 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: $9,955 · $830/mo
• Projected year-2 tax: $10,321 · $860/mo
• Expected delta: +$365/yr (+$30/mo · 3.7%)

ⓘ 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 ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,489
• − Mortgage interest: −$38,371
• − Property taxes: −$9,955
• − Insurance: −$3,425
• − Repairs & maintenance: −$1,719
• − Management: −$1,719
• − Depreciation: −$19,927
• Taxable loss: −$53,627
• Est. tax savings @ 24.0%: +$12,871
• After-tax cash flow: $-26,640/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: Coventry Local
• NCES district ID: 3904999
• Math proficiency: 52% ▼ -13.00%
• Reading proficiency: 64% ▼ -2.00%
• Median HH income: $52,981
• Composite: 49.66/100
• National rank: #1976
• State rank: #315 of 656 in OH

Livability — Portage Lakes

• Score: 64/100
• State rank: #772
• US rank: #14032

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portage Lakes, 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

+373.3% since first listed

5 events — show timeline

• 2026-05-18 Price Changed $710,000 MLSNOW
• 2026-04-21 Price Changed $724,900 MLSNOW
• 2026-03-28 Price Changed $749,900 MLSNOW
• 2026-02-25 Listed $780,000 MLSNOW
• 2022-07-13 Sold (Public Records) $150,000 Public Records

Property tax history

+6.7%/yr

Latest (2025): $9,955 · +286.5% YoY. Source: county tax records.