196 Olivet Ave · Portage Lakes, OH 44319

$264,900

3 bd · 2.5 ba · 1,752 sqft · SingleFamily public records · 4 Days on market

Built 2006 6,011 sqft lot Est $284k · 7% under

---

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 +10.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

PORTAGE LAKES LIVING WITHOUT THE OLD-HOUSE HEADACHES! This is the one buyers wait for -- a fully updated 2006-built home in Coventry Local Schools, just a short walk from the water, offering the lake-area lifestyle without the constant projects that often come with older homes. This move-in-ready 4-bedroom, 2.5-bath colonial brings the energy from the moment you walk in. Bright natural light, fresh modern finishes, updated flooring, and inviting living spaces create the perfect setup for relaxing, entertaining, and everyday life. The great room connects comfortably with the dining area and a standout kitchen featuring quartz countertops, stainless steel appliances, and a clean, stylish des

Key facts

• Standout kitchen
• Quartz countertops
• Walk-in closet

Tags

• UPDATED HOME
• STANDOUT KITCHEN
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• WALK-IN CLOSET
• EN-SUITE BATH

Property features AI

Exterior

• Parking: Attached garage; 2 garage spaces
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public sewer; Private well water
• Home design: 2 stories; Asphalt shingle roof; Vinyl siding
• Construction: Built according to public records; Vinyl siding construction; Asphalt shingle roof
• Exterior features: Deck

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Water softener
• Bathrooms: 2 full bathrooms; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Forced air heating (gas); Central air conditioning
• Interior features: Walk-in closets
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $5k ($66k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $265k).
• Cap rate 31.1% vs local median 13.7% in Portage Lakes — 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 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; 2 comparable units currently listed for rent nearby; 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• At $9,387/mo this rent would consume 151% of the median local household income ($75k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 $74k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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 $22k; list at $265k implies a 1077% gain — meaningful room to come down on a strong offer.

Recommended offer $264,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 3.54% ✓
• Cap rate: 31.07%
• Cash-on-cash: 88.49%
• DSCR: 4.94
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $283,824
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
156 W Ingleside Dr	0.19mi	4/3.0 (+1)	1,534 (-12%)	2mo	$240,000	$156	62
2976 S Main St	0.39mi	3/1.5	1,639 (-6%)	8mo	$265,000	$162	61
2920 House Dr	0.44mi	3/2.5	1,858 (+6%)	14mo	$285,000	$153	58
136 Wymore Ave	0.24mi	3/2.5	1,936 (+10%)	17mo	$660,000	$341	57
123 Wymore Ave	0.24mi	3/2.5	1,928 (+10%)	20mo	$585,000	$303	56
2743 N Bender Ave	0.69mi	3/2.0	1,725 (-2%)	9mo	$220,000	$128	56
541 Canova Dr	0.46mi	3/2.0	1,615 (-8%)	12mo	$245,000	$152	53
3545 Malley Ave	0.64mi	3/3.0	1,900 (+8%)	2mo	$560,000	$295	52
85 N House Dr	0.59mi	3/2.0	1,892 (+8%)	12mo	$340,000	$180	47
472 Saunders Ave	0.60mi	3/2.0	1,512 (-14%)	10mo	$425,000	$281	39
2668 Canvasback Cir	0.73mi	3/2.5	1,530 (-13%)	12mo	$217,000	$142	35

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: 89.1%
• Equity multiple: 5.12×
• Total profit: $305,636
• Equity at exit: $39,497

10-year hold

• IRR: 92.1%
• Equity multiple: 10.65×
• Total profit: $715,561
• Equity at exit: $22,904

Cash invested: $74,172 (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: 2.4×

Monthly cashflow live

• Estimated rent: $9,387 medium
• Mortgage (P&I): −$1,389
• Tax from tax record: −$447 /mo · $5,363/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,971
• Net cashflow: $5,469

Break-even live

Break-even rent $2,464

Max offer price $264,900

Occupancy floor 37%

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: $66,225
• Closing costs: $7,947
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
829 Portage Lakes Dr Unit 1496076P Akron, OH	3.0	1.0	1356	$7,700	$5.68	14d	1	0.66mi
3581 Mong Ave Unit 1496037P Akron, OH	4.0	2.0	2142	$11,111	$5.19	44d	1	0.71mi

Listing history 6 events

1. 2026-06-03
   status $264,900 Pending 4 DOM
2. 2026-06-02
   days on market $264,900 Active 4 DOM
3. 2026-06-01
   days on market $264,900 Active 3 DOM
4. 2026-05-31
   days on market $264,900 Active 2 DOM
5. 2026-05-31
   remarks 699-char remark
6. 2026-05-31
   listed $264,900 Active 1 DOM

ⓘ 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: $5,363 · $447/mo
• Projected year-2 tax: $5,363 · $447/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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $112,645
• − Mortgage interest: −$14,839
• − Property taxes: −$5,363
• − Insurance: −$1,324
• − Repairs & maintenance: −$9,012
• − Management: −$9,012
• − Depreciation: −$7,706
• Taxable income: $65,390
• Est. tax owed @ 24.0%: −$15,694
• After-tax cash flow: $49,939/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

+1077.3% since first listed

7 events — show timeline

• 2026-05-29 Listed $264,900 MLSNOW
• 2026-04-06 Listing Removed — MLSNOW
• 2026-03-11 Price Changed $279,000 MLSNOW
• 2026-01-19 Relisted — MLSNOW
• 2025-08-20 Price Changed $289,000 MLSNOW
• 2025-08-08 Listed $299,000 MLSNOW
• 2005-10-21 Sold (Public Records) $22,500 Public Records

Property tax history

+4.2%/yr

Latest (2025): $5,363 · -7.8% YoY. Source: county tax records.