2331 E Market St #202 · Akron, OH 44312

$70,000

1 bd · 1.0 ba · 960 sqft · Condo · 86 Days on market

Built 1966 Average condition $73/sqft · 12% below area Est $80k · 12% under $259/mo HOA · 27% of rent ↓ 12% since listing

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Why this score? — see what drove the C- 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 +15.6/30.0
• ARV discount +12.9/15.0
• 1% rule +9.0/10.0
• DSCR +4.8/10.0
• Livability +4.0/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

One of the largest 1 bedroom floor plans in Seven Stories East. Over 900 SF of open space, stainless appliances, balcony in the bedroom and a screened in balcony overlooking the pool.

Key facts

• Stainless appliances
• Screened in balcony
• Overlooking the pool

Tags

• STAINLESS APPLIANCES
• BALCONY IN THE BEDROOM
• SCREENED IN BALCONY
• OVERLOOKING THE POOL

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $70k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $29 ($350/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($977 rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.

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: 137 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• This rent is only 18% of the median local income ($65k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k 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.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $65,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.40% ✓
• Cap rate: 6.79%
• Cash-on-cash: 1.78%
• DSCR: 1.08
• GRM: 6.0

CMA / ARV

• ARV (median comp): $79,574
• List price: $70,000
• Delta: -12.03%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -13.2%
• Equity multiple: 0.52×
• Total profit: $-9,313
• Equity at exit: $10,437

10-year hold

• IRR: -3.8%
• Equity multiple: 0.74×
• Total profit: $-5,014
• Equity at exit: $6,052

Cash invested: $19,600 (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 44312

• Active inventory: 137
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $977 high
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$259
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $29

Break-even live

Break-even rent $940

Max offer price $70,000

Occupancy floor 92%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2620 Mogadore Rd Akron, OH	2.0	1.0	936	$1,250	$1.34	14d	1	0.56mi
1920 Garden Ct S Akron, OH	2.0	1.0	800	$1,019	$1.27	14d	1	0.70mi
2612 Leland Ave Unit Left/Down Akron, OH	2.0	1.0	572	$850	$1.49	21d	1	0.78mi
2888 Mogadore Rd Akron, OH	1.0	1.0	450	$859	$1.91	14d	1	0.88mi
481 Tompkins Ave Akron, OH	2.0	1.0	800	$749	$0.94	14d	1	0.98mi
2948 Mogadore Rd Unit 5 Akron, OH	2.0	1.0	700	$975	$1.39	14d	1	1.01mi
1820 Malasia Rd Unit 2 Akron, OH	2.0	1.0	741	$925	$1.25	44d	1	1.04mi
1820 Malasia Rd Akron, OH	2.0	1.0	741	$895	$1.21	21d	1	1.04mi
2994 Mogadore Rd Akron, OH	2.0	1.0	715	$931	$1.30	23d	1	1.07mi
2323 Newton St Unit 4 Akron, OH	2.0	1.0	780	$895	$1.15	14d	1	1.12mi
2323 Newton St Unit 4 Akron, OH	2.0	1.0	780	$895	$1.15	23d	1	1.12mi
243 Watson St Akron, OH	2.0	1.0	750	$950	$1.27	44d	1	1.22mi
1628 E Market St Akron, OH	2.0	1.0	800	$850	$1.06	44d	1	1.34mi

HOA detail condo

• Monthly dues: $259 · $3,108/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-05-17
   status Pending 183-char remark

   Show marketing remark (183 chars)

   One of the largest 1 bedroom floor plans in Seven Stories East. Over 900 SF of open space, stainless appliances, balcony in the bedroom and a screened in balcony overlooking the pool.

2. 2026-05-11
   price $70,000 183-char remark

   Show marketing remark (183 chars)

   One of the largest 1 bedroom floor plans in Seven Stories East. Over 900 SF of open space, stainless appliances, balcony in the bedroom and a screened in balcony overlooking the pool.

3. 2026-03-20
   price $75,000 183-char remark

   Show marketing remark (183 chars)

   One of the largest 1 bedroom floor plans in Seven Stories East. Over 900 SF of open space, stainless appliances, balcony in the bedroom and a screened in balcony overlooking the pool.

4. 2026-02-20
   listed $80,000 Active 183-char remark

   Show marketing remark (183 chars)

   One of the largest 1 bedroom floor plans in Seven Stories East. Over 900 SF of open space, stainless appliances, balcony in the bedroom and a screened in balcony overlooking the pool.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,725
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$938
• − Management: −$938
• − HOA: −$3,108
• − Depreciation: −$2,036
• Taxable loss: −$616
• Est. tax savings @ 24.0%: +$148
• After-tax cash flow: $498/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.

Condition & rehab AI · 1 photo

Average 55/100 Cosmetic rehab

This condo has a good layout and size, but needs cosmetic repairs to its exterior and interior paint to enhance its curb appeal and resale value.

Repairs flagged

• Minor exterior paint — Some discoloration on the brick
• Minor interior paint — No visible damage

Value-add opportunities

• Both paint exterior — Enhances curb appeal and resale value
• Both paint interior — Improves interior appearance and rental appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · Some discoloration on the brick	Minor	$500–3,000
interior paint · No visible damage	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and resale value ↑
• Both paint interior — Improves interior appearance and rental appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 30,280
• Household income: $65,480
• Rent vs Own: 23.5% rent · 76.5% own
• Severe rent burden: 483.0

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: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Slovak 2% Serbian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Russian/Polish/Slavic 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: ▼ -203.00%
• Current HPI: 197.5988
• 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

-12.5% since first listed

4 events — show timeline

• 2026-05-17 Pending — MLSNOW
• 2026-05-11 Price Changed $70,000 MLSNOW
• 2026-03-20 Price Changed $75,000 MLSNOW
• 2026-02-20 Listed $80,000 MLSNOW