242 W Highland Ave · Ravenna, OH 44266

$220,000

6 bd · 4.0 ba · 2,571 sqft · MultiFamily public records · 22 Days on market

Built 1890 0.28 ac lot

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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 +7.5/15.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Attention investors! Wonderful three unit building priced to sell. Great investment opportunity does need some TLC. Can be purchased as a package deal with mls # 1383053(1233 Overbrook a duplex in Kent), will look at offers on package deal.

Key facts

• Solid rental history
• 0.28 acre lot
• Built 1890

Tags

• INVESTMENT OPPORTUNITY
• FULLY OCCUPIED TRIPLEX
• WELL MAINTAINED UNITS
• LARGE OFF STREET PARKING LOT
• SOLID RENTAL HISTORY

Property features AI

Finance

• Financial info: Gross income reported as $2,500; Owner pays sewer, trash collection, and water; Tenant pays cable TV, electricity, and gas

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: 2-story building; Above-grade finished living area approximately 2,571
• Construction: Wood siding; Asphalt roof; Built per public records
• Exterior features: Gravel and off-street parking areas; Parking lot

Interior

• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced air heating (gas)
• Interior features: 12 total rooms; Basement with exterior entry (unfinished)

What this means for you Summary

Snapshot

• This is a 1×3bd/1.0ba + 2×1bd/1.0ba units multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $960 ($12k/yr) — positive. Per door: $320/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $217k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 3.0% in Ravenna — 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 73/100 on livability (#323 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: amenities F, commute F, employment F.
• Ravenna City (suburban): math 31% / reading 41% proficiency, ranked #559 of 656 in OH (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 159 active listings in the ZIP; 196 units permitted in Portage County in 2024 (10 in 5+ unit buildings).
• At $2,996/mo this rent would consume 55% of the median local household income ($65k/yr) (locally 1468% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $62k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y 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 $84k; list at $220k implies a 162% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $216,700 (1.5% below list)

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 1890 — 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. 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.
6. 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.
7. 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: 1.36% ✓
• Cap rate: 11.53%
• Cash-on-cash: 18.70%
• DSCR: 1.83
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.5%
• Equity multiple: 1.41×
• Total profit: $25,470
• Equity at exit: $32,803

10-year hold

• IRR: 19.5%
• Equity multiple: 2.64×
• Total profit: $100,811
• Equity at exit: $19,022

Cash invested: $61,600 (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 44266

• Active inventory: 159
• Price-to-rent: 16.9×

Monthly cashflow live

• Estimated rent: $2,996 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$161 /mo · $1,937/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$629
• Net cashflow: $960

Break-even live

Break-even rent $1,781

Max offer price $220,000

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,088
▸ 2× units	1	1	$1,908
Total (3 units)			$2,996

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $220,000 Active 22 DOM
2. 2026-06-17
   days on market $220,000 Active 21 DOM
3. 2026-06-16
   days on market $220,000 Active 20 DOM
4. 2026-06-15
   days on market $220,000 Active 19 DOM
5. 2026-06-14
   days on market $220,000 Active 17 DOM
6. 2026-06-10
   days on market $220,000 Active 14 DOM
7. 2026-06-09
   days on market $220,000 Active 13 DOM
8. 2026-06-08
   days on market $220,000 Active 12 DOM
9. 2026-06-07
   days on market $220,000 Active 11 DOM
10. 2026-06-05
    days on market $220,000 Active 8 DOM
11. 2026-06-03
    days on market $220,000 Active 7 DOM
12. 2026-06-02
    days on market $220,000 Active 6 DOM
13. 2026-06-01
    days on market $220,000 Active 5 DOM
14. 2026-05-31
    days on market $220,000 Active 4 DOM
15. 2026-05-31
    days on market $220,000 Active 3 DOM
16. 2026-05-26
    listed $220,000 Active
17. 2026-04-01
    historical
18. 2026-03-04
    status Active
19. 2026-03-04
    price $240,000
20. 2026-02-02
    status Pending
21. 2025-10-09
    listed $250,000 Active
22. 2006-04-27
    soldstatus $84,000 240-char remark

    Show marketing remark (240 chars)

    Attention investors! Wonderful three unit building priced to sell. Great investment opportunity does need some TLC. Can be purchased as a package deal with mls # 1383053(1233 Overbrook a duplex in Kent), will look at offers on package deal.

23. 2006-04-27
    soldstatus $84,000

    Show marketing remark (240 chars)

    Attention investors! Wonderful three unit building priced to sell. Great investment opportunity does need some TLC. Can be purchased as a package deal with mls # 1383053(1233 Overbrook a duplex in Kent), will look at offers on package deal.

24. 2005-12-07
    listed $90,000 240-char remark

    Show marketing remark (240 chars)

    Attention investors! Wonderful three unit building priced to sell. Great investment opportunity does need some TLC. Can be purchased as a package deal with mls # 1383053(1233 Overbrook a duplex in Kent), will look at offers on package deal.

ⓘ 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: $1,937 · $161/mo
• Projected year-2 tax: $2,685 · $224/mo
• Expected delta: +$747/yr (+$62/mo · 38.6%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,952
• − Mortgage interest: −$12,323
• − Property taxes: −$1,937
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,876
• − Management: −$2,876
• − Depreciation: −$6,400
• Taxable income: $8,439
• Est. tax owed @ 24.0%: −$2,025
• After-tax cash flow: $9,495/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: Ravenna City
• NCES district ID: 3904468
• Math proficiency: 31% ▼ -22.00%
• Reading proficiency: 41% ▼ -13.00%
• Median HH income: $40,018
• Composite: 30.19/100
• National rank: #6314
• State rank: #559 of 656 in OH

Livability — Ravenna

• Score: 73/100
• State rank: #323
• US rank: #5309

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ravenna, OH
• County: Portage County · 70,400 people
• City population: 32,612
• Metro: Akron, OH
• Population (ZIP): 32,612
• Household income: $64,918
• Rent vs Own: 31.3% rent · 68.7% own
• Severe rent burden: 1468.0

Population outlook (Portage County) Hauer SSP2

• Today (2025): 166,109 people
• By 2030: 167,752 · +1.0%
• By 2040: 168,640 · +1.5%
• By 2050: 167,469 · +0.8%
• By 2075: 170,131 · +2.4%
• By 2100: 167,958 · +1.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 6% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Italian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Portage

• 2024 margin: R (+15.5) · D 41.8% · R 57.3%
• 2008→2024 swing: -24.5pp toward R · 2008: 9.0pp · 2024: -15.5pp
• All cycles: 2024: R+15.5 2020: R+12.5 2016: R+10.2 2012: D+4.9 2008: D+9.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -146.76%
• Current HPI: 196.8027
• Rent YoY: —
• 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

+144.4% since first listed

9 events — show timeline

• 2026-05-26 Listed $220,000 MLSNOW
• 2026-04-01 Listing Removed — MLSNOW
• 2026-03-04 Relisted — MLSNOW
• 2026-03-04 Price Changed $240,000 MLSNOW
• 2026-02-02 Pending — MLSNOW
• 2025-10-09 Listed $250,000 MLSNOW
• 2006-04-27 Sold (Public Records) $84,000 Public Records
• 2006-04-27 Sold (MLS) $84,000 MLSNOW
• 2005-12-07 Listed $90,000 MLSNOW

Property tax history

+5.0%/yr

Latest (2025): $1,937 · +17.3% YoY. Source: county tax records.