793 Thayer St

Akron, OH 44310

$79,900C+

2 bd · 1.5 ba · 893 sqft · Built 1913 · SingleFamily · Active · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $920/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$182
• HOA: −$0
• Vac / Maint / Mgmt: −$193
• Net cashflow: $126/mo
• Annual: $1,510/yr
• Cap rate: 8.18%
• Cash-on-cash: 6.75%
• DSCR: 1.30
• 1% rule: 1.15%
• Cash to close: $22,372

Investor read

• This is a 2-bed/1.5-bath single-family listed at $80k.
• At list price, monthly cash flow is $126 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($920 rent vs $80k).
• It's been on market 28 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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.
• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+4.8%/yr); 86 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• Summit County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts; this cycle's ask has dropped $15k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $44k; list at $80k implies a 82% gain — meaningful room to come down on a strong offer.
• Cap rate 8.2% vs local median 6.6% in Akron — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.