656 Hammel St · Akron, OH 44306

$139,900

6 bd · 2.0 ba · 1,995 sqft · MultiFamily public records · 1 Days on market

Built 1933 4,800 sqft lot Est $126k · 11% over

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.4/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Built in 1933 this two family home has 14 rooms total, with 6 bedrooms, 2 full bathrooms, a full basement, and a finished attic. The roof, furnace, and hot water tanks have been recently replaced. Also updated bathroom plumbing. Would make a great investment property.

Key facts

• Updated bathrooms
• New lvp flooring
• New vanities

Tags

• NEWER DIMENSIONAL SHINGLE ROOF
• LOW MAINTENANCE VINYL SIDING
• VINYL REPLACEMENT WINDOWS
• NEW LVP FLOORING
• UPDATED BATHROOMS
• NEW VANITIES

Property features AI

Finance

• Financial info: Annual tax noted (see public records)

Exterior

• Parking: Garage (1.5 garage spaces)
• Utilities: Public water; Public sewer
• Home design: Above-grade finished area reported as 1,995 (per public records)
• Construction: Aluminum and vinyl siding; Asphalt roof; Year built per public records
• Exterior features: Lot recorded as 0.1102 acres (per public records)

Interior

• Bedrooms: Total rooms: 14
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $836 ($10k/yr) — positive. Per door: $418/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 13.5% 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 (+7.6%/yr); 69 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• At $2,236/mo this rent would consume 64% of the median local household income ($42k/yr) (locally 1251% of renters already pay >50% of income on rent) — 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 $967 of loan paydown is wiped out by about $4k 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 $39k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 35y 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 $78k; list at $140k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1933 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1933 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.60% ✓
• Cap rate: 13.46%
• Cash-on-cash: 25.61%
• DSCR: 2.14
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $125,685
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
778-780 Brown St	0.38mi	6/2.0	2,240 (+12%)	2mo	$140,000	$63	60
593 Brown St	0.53mi	6/3.0	2,082 (+4%)	21mo	$114,000	$55	47
523 Gage St	0.66mi	5/2.0 (-1)	1,795 (-10%)	9mo	$148,000	$82	40
656 Kling St	0.56mi	5/2.0 (-1)	2,251 (+13%)	16mo	$156,500	$70	34
866 Beardsley St	0.54mi	6/3.0	2,246 (+13%)	20mo	$95,000	$42	34
895 Beardsley	0.52mi	6/2.0	2,276 (+14%)	23mo	$84,000	$37	33
812 Kling St	0.47mi	5/3.5 (-1)	1,702 (-15%)	13mo	$146,035	$86	32

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: 24.3%
• Equity multiple: 2.06×
• Total profit: $41,482
• Equity at exit: $20,860

10-year hold

• IRR: 34.9%
• Equity multiple: 4.93×
• Total profit: $153,957
• Equity at exit: $12,096

Cash invested: $39,172 (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 44306

• Rents YoY: 7.6%
• Active inventory: 69
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,236 high
• Mortgage (P&I): −$734
• Tax from tax record: −$139 /mo · $1,663/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $836

Break-even live

Break-even rent $1,178

Max offer price $139,900

Occupancy floor 58%

Sensitivity live

Price	-10% $915	-5% $875	+0% $836	+5% $796	+10% $757
Rent	-10% $659	-5% $748	+0% $836	+5% $924	+10% $1,013
Rate	-1.0pp $906	-0.5pp $871	base $836	+0.5pp $800	+1.0pp $763

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,236
Total (2 units)			$2,236

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
768 Beardsley St Akron, OH	5.0	1.5	1714	$1,500	$0.88	14d	1	0.53mi
497 Sumner St Akron, OH	5.0	2.0	1776	$1,295	$0.73	44d	1	0.89mi
82 Detroit St Akron, OH	6.0	2.0	1624	$1,500	$0.92	24d	1	1.43mi

Listing history 2 events

1. 2026-06-19
   remarks 699-char remark
2. 2026-06-19
   listed $139,900 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: $1,663 · $139/mo
• Projected year-2 tax: $1,923 · $160/mo
• Expected delta: +$260/yr (+$22/mo · 15.6%)

ⓘ 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 · 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: $26,832
• − Mortgage interest: −$7,837
• − Property taxes: −$1,663
• − Insurance: −$700
• − Repairs & maintenance: −$2,147
• − Management: −$2,147
• − Depreciation: −$4,070
• Taxable income: $8,270
• Est. tax owed @ 24.0%: −$1,985
• After-tax cash flow: $8,046/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

+192.1% since first listed

28 events — show timeline

• 2026-06-18 Listed $139,900 MLSNOW
• 2026-04-30 Listed for Rent $1,045 RentEngineListings
• 2026-04-30 Listed for Rent $1,000 RentEngineListings
• 2025-09-24 Sold (Public Records) $78,000 Public Records
• 2025-05-29 Rental Removed $1,100 RENTALBEAST
• 2025-03-23 Price Changed $1,100 RENTALBEAST
• 2025-03-03 Listed for Rent $1,200 RENTALBEAST
• 2022-12-23 Rental Removed — RENT.
• 2022-08-30 Sold (Public Records) $110,000 Public Records
• 2022-08-29 Sold (MLS) $110,000 MLSNOW
• 2022-08-26 Pending — MLSNOW
• 2022-08-18 Contingent — MLSNOW
• 2022-06-23 Listed $125,000 MLSNOW
• 2011-02-16 Sold (Public Records) $14,000 Public Records
• 2010-11-19 Listing Removed — MLSNOW
• 2010-06-30 Listed $24,900 MLSNOW
• 2008-03-28 Listing Removed — MLSNOW
• 2008-03-28 Listing Removed — MLSNOW
• 2007-03-28 Listed $39,000 MLSNOW
• 2007-03-28 Listed $39,000 MLSNOW
• 2001-10-05 Sold (Public Records) $60,600 Public Records
• 2001-04-17 Listed $59,900 MLSNOW
• 2001-03-13 Listing Removed — MLSNOW
• 2000-09-14 Listed $64,900 MLSNOW
• 1997-12-01 Listing Removed — MLSNOW
• 1997-07-01 Listed $64,900 MLSNOW
• 1991-12-22 Listing Removed — MLSNOW
• 1991-09-24 Listed $47,900 MLSNOW

Property tax history

+2.6%/yr

Latest (2025): $1,663 · -9.9% YoY. Source: county tax records.