987 Boone St · Akron, OH 44306

$84,900

3 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 3 Days on market

Built 1917 2,700 sqft lot Est $82k · at est.

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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
• 1% rule +8.6/10.0
• ARV discount +6.1/15.0
• Rent growth +4.4/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

This colonial home has so much to offer with the right vision. Enjoy the front porch as you overlook the active cul-de-sac, or enjoy the private back deck that overlooks the backyard. The front porch is an inviting welcome to friends and family as they enter the home into the spacious living area and dining area. The recent kitchen (remodeled a few years ago) has newer countertops, nice cupboards, and cabinets offering plenty of room to prepare meals in the kitchen. The owner has provided an oven/range and a refrigerator that will stay. The back door off the kitchen gives easy access to the oversized back deck. The upstairs has a spacious full bath with a new tub surround. The three bedroom

Key facts

• Newer countertops
• Private back deck
• Oversized back deck

Tags

• FRONT PORCH
• PRIVATE BACK DECK
• NEWER COUNTERTOPS
• OVEN RANGE
• REFRIGERATOR
• OVERSIZED BACK DECK

Property features AI

Finance

• Financial info: Annual taxes listed

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: Shake siding; Asphalt roof
• Construction: Built per public records; Shake siding construction; Asphalt roof
• Exterior features: Deck; Front porch

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Total of 8 rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Gas heating
• Interior features: Full basement
• Laundry & utility: Laundry located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $338 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Cap rate 11.1% 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.
• Zoned schools: Mason Community Learning Center (math 27% / reading 22%, grade F, #1,217 of 1,584 statewide, top 78%, 280 students, 0% FRL); National Inventors Hall of Fame School Center For Stem (math 45% / reading 56%, grade C, #413 of 654 statewide, top 63%, 406 students, 0% FRL); Akron Early College High School (math 62% / reading 98%, grade A, #34 of 781 statewide, top 4%, 377 students, 0% FRL) — zoned schools average 0% FRL vs 66% district-wide (66 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 52% at this address vs 26% district-wide (+26 pts) — the actual schools serving this property are materially stronger than the Akron City average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+7.6%/yr); 71 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• This rent runs 33% of the median local income ($42k/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 $587 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 + 7.6% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 33y 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 $8k; list at $85k implies a 899% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,900

Questions for the listing agent

1. Built in 1917 — 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: 1.36% ✓
• Cap rate: 11.08%
• Cash-on-cash: 17.08%
• DSCR: 1.76
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $82,368
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
495 Elbon Ave	0.52mi	3/1.0	1,267 (+2%)	4mo	$75,000	$59	70
591 Hedden Ave	0.71mi	3/1.0	1,224 (-2%)	2mo	$63,500	$52	62
863 Bank St	0.72mi	3/1.0	1,226 (-2%)	6mo	$82,000	$67	59
70 Wise St	0.66mi	3/1.0	1,197 (-4%)	5mo	$80,000	$67	58
906 E Buchtel Ave	0.62mi	3/1.0	1,372 (+10%)	2mo	$22,000	$16	53
1214 Laird St	0.72mi	4/1.0 (+1)	1,284 (+3%)	6mo	$85,000	$66	52
522 Winans Ave	0.65mi	3/1.0	1,373 (+10%)	5mo	$95,000	$69	49
508 Crouse St	0.57mi	4/2.0 (+1)	1,370 (+10%)	2mo	$62,500	$46	47
990 Baird St	0.74mi	3/1.0	1,140 (-9%)	6mo	$88,000	$77	46
109 Kent Ct	0.49mi	2/1.0 (-1)	1,075 (-14%)	8mo	$37,500	$35	43
642 Gridley Ave	0.67mi	4/2.0 (+1)	1,399 (+12%)	5mo	$45,000	$32	36
1172 5th Ave	0.61mi	4/2.5 (+1)	1,428 (+14%)	1mo	$233,000	$163	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 · 7.63% rent growth · sell at horizon

5-year hold

• IRR: 13.4%
• Equity multiple: 1.56×
• Total profit: $13,417
• Equity at exit: $12,659

10-year hold

• IRR: 25.5%
• Equity multiple: 3.73×
• Total profit: $64,812
• Equity at exit: $7,341

Cash invested: $23,772 (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 44306

• Rents YoY: 7.6%
• Active inventory: 71
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,151 high
• Mortgage (P&I): −$445
• Tax from tax record: −$90 /mo · $1,082/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $338

Break-even live

Break-even rent $722

Max offer price $84,900

Occupancy floor 66%

Sensitivity live

Price	-10% $386	-5% $362	+0% $338	+5% $314	+10% $290
Rent	-10% $248	-5% $293	+0% $338	+5% $384	+10% $429
Rate	-1.0pp $381	-0.5pp $360	base $338	+0.5pp $316	+1.0pp $294

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
987 Boone St Akron, OH	3.0	1.0	1248	$1,100	$0.88	25d	1	0.04mi
801 E Exchange St Akron, OH	2.0	1.0	850	$925	$1.09	25d	1	0.16mi
783 E Exchange St Unit 2nd Akron, OH	2.0	1.0	951	$875	$0.92	25d	1	0.18mi
1071 Ackley St Akron, OH	4.0	2.0	1164	$1,175	$1.01	45d	1	0.21mi
878 Clark St Akron, OH	3.0	2.0	1029	$1,440	$1.40	45d	1	0.32mi
166 Chittenden St Akron, OH	3.0	1.0	1020	$985	$0.97	45d	1	0.34mi
167 Chittenden St Apt 2 Akron, OH	2.0	1.0	900	$825	$0.92	45d	1	0.36mi
167 Chittenden St #1 Akron, OH	2.0	1.0	900	$850	$0.94	45d	1	0.37mi
344 Lease St Akron, OH	3.0	1.0	1000	$1,199	$1.20	45d	1	0.38mi
797 E Market St Apt 220 Akron, OH	2.0	1.5	1100	$1,500	$1.36	25d	1	0.39mi
1125 2nd Ave Akron, OH	3.0	1.0	1373	$1,100	$0.80	25d	1	0.42mi
77 Kent Ct Akron, OH	4.0	1.0	1300	$1,200	$0.92	45d	1	0.44mi
109 Kent Ct Akron, OH	2.0	1.0	1032	$1,142	$1.11	25d	1	0.45mi
377 Talbot Ave Akron, OH	2.0	1.0	1070	$1,050	$0.98	45d	1	0.50mi
846 Lee Dr Akron, OH	4.0	1.0	1433	$1,325	$0.92	15d	1	0.51mi
846 Lee Dr Akron, OH	4.0	1.5	1433	$1,325	$0.92	25d	1	0.51mi
134 N Arlington St Akron, OH	2.0	1.0	964	$900	$0.93	25d	1	0.51mi
484 Hammel St Akron, OH	2.0	1.0	792	$1,100	$1.39	45d	1	0.55mi
605 E Buchtel Ave Unit 1 Akron, OH	2.0	1.0	1000	$695	$0.69	15d	1	0.62mi
1182 5th Ave Akron, OH	3.0	1.0	1248	$1,250	$1.00	15d	1	0.63mi
545 E Buchtel Ave Unit 1 Akron, OH	2.0	1.0	900	$1,300	$1.44	45d	1	0.68mi
490 Gage St Akron, OH	4.0	1.0	1326	$1,053	$0.79	45d	1	0.68mi
467 Spicer St Akron, OH	2.0	1.0	800	$915	$1.14	25d	1	0.70mi
461 Spicer St Akron, OH	3.0	2.0	1000	$995	$0.99	45d	1	0.71mi
488 Alexander St Akron, OH	4.0	2.0	1311	$1,350	$1.03	25d	1	0.72mi
621 Hudson Ave Akron, OH	3.0	1.0	780	$1,100	$1.41	15d	1	0.73mi
990 Baird St Akron, OH	3.0	1.0	1140	$1,250	$1.10	45d	1	0.78mi
420 Power St Akron, OH	3.0	1.0	900	$800	$0.89	25d	1	0.78mi
418 Power St Akron, OH	3.0	1.0	1000	$999	$1.00	25d	1	0.78mi
548 Spicer St Akron, OH	4.0	2.0	1487	$1,100	$0.74	25d	1	0.79mi
208 Barder Ave Akron, OH	3.0	1.0	924	$1,050	$1.14	45d	1	0.81mi
208 Denver St Akron, OH	3.0	1.0	1248	$895	$0.72	45d	1	0.89mi
356 Rankin St Akron, OH	4.0	1.5	1186	$1,197	$1.01	25d	1	0.90mi
1113 Smithfarm Ave Akron, OH	3.0	2.0	1296	$1,600	$1.23	25d	1	0.92mi
393 Cross St Unit 393 Akron, OH	2.0	1.0	864	$775	$0.90	45d	1	0.94mi
288 Kryder Ave Akron, OH	4.0	1.0	1400	$1,450	$1.04	45d	1	0.96mi
1297 Pondview Ave Akron, OH	4.0	1.0	1373	$1,450	$1.06	25d	1	0.96mi
287 Wheeler St Akron, OH	3.0	1.0	1100	$1,350	$1.23	25d	1	0.96mi
237 Kryder Ave Unit 237 Akron, OH	2.0	1.0	860	$850	$0.99	46d	1	0.97mi
689 Kling St Akron, OH	3.0	1.0	780	$1,075	$1.38	22d	1	0.98mi

Listing history 3 events

1. 2026-06-21
   days on market $84,900 Active 3 DOM
2. 2026-06-19
   remarks 699-char remark
3. 2026-06-19
   listed $84,900 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: $1,082 · $90/mo
• Projected year-2 tax: $1,203 · $100/mo
• Expected delta: +$121/yr (+$10/mo · 11.2%)

ⓘ 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 ≥97°F today · 16 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: $13,811
• − Mortgage interest: −$4,756
• − Property taxes: −$1,082
• − Insurance: −$424
• − Repairs & maintenance: −$1,105
• − Management: −$1,105
• − Depreciation: −$2,470
• Taxable income: $2,869
• Est. tax owed @ 24.0%: −$689
• After-tax cash flow: $3,373/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): 20,905
• Household income: $41,688
• Rent vs Own: 56.4% rent · 43.6% own
• Severe rent burden: 1251.0

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 0.62)
• Race & ethnicity: White 48% Black 38% Two or more races 8% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 2% Iranian 1% Scotch-Irish 1%
• Foreign-born: 4% · Vietnam, Canada, Philippines
• Languages at home: 94% English-only · Spanish 2% Other Asian/Pacific 1% Vietnamese 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: ▼ -101.46%
• Current HPI: 132.768
• Rent YoY: ▲ 7.63%
• 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

+126.4% since first listed

33 events — show timeline

• 2026-06-17 Listed $84,900 MLSNOW
• 2026-05-13 Listed for Rent $1,100 YESMLS
• 2025-09-30 Listing Removed — MLSNOW
• 2025-08-01 Listing Removed — MLSNOW
• 2025-05-30 Listed $101,000 MLSNOW
• 2025-05-30 Listed $85,500 MLSNOW
• 2023-06-12 Rental Removed — YESMLS
• 2017-11-03 Sold (Public Records) $8,500 Public Records
• 2017-11-03 Sold (MLS) $8,500 MLSNOW
• 2017-10-17 Pending — MLSNOW
• 2017-10-16 Listing Removed — MLSNOW
• 2017-09-13 Price Changed $9,900 MLSNOW
• 2017-07-26 Price Changed $14,900 MLSNOW
• 2017-05-17 Price Changed $19,900 MLSNOW
• 2017-05-09 Listed $24,900 MLSNOW
• 2016-06-06 Sold (Public Records) $23,700 Public Records
• 2016-03-22 Listing Removed — MLSNOW
• 2015-12-30 Price Changed $24,499 MLSNOW
• 2015-12-30 Price Changed $17,900 MLSNOW
• 2015-11-25 Listed $24,900 MLSNOW
• 2014-07-15 Sold (MLS) $9,200 MLSNOW
• 2014-06-24 Listing Removed — MLSNOW
• 2014-05-13 Listed $11,500 MLSNOW
• 2001-10-04 Listing Removed — MLSNOW
• 2001-05-04 Listed $49,900 MLSNOW
• 1999-12-03 Listing Removed — MLSNOW
• 1999-08-03 Listed $54,000 MLSNOW
• 1994-05-31 Sold (Public Records) $36,500 Public Records
• 1994-04-18 Listed $37,500 MLSNOW
• 1994-04-06 Listing Removed — MLSNOW
• 1993-10-08 Listed $37,500 MLSNOW
• 1993-09-04 Listing Removed — MLSNOW
• 1993-03-05 Listed $37,500 MLSNOW

Property tax history

-2.3%/yr

Latest (2025): $1,082 · -31.6% YoY. Source: county tax records.