1804-1808 Cromwell Dr · Akron, OH 44313

$295,000

5 bd · 3.0 ba · 2,632 sqft · MultiFamily public records · 104 Days on market

Built 1965 0.28 ac lot $112/sqft · 49% above area Est $198k · 49% over

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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 +25.9/30.0
• DSCR +8.7/10.0
• 1% rule +6.7/10.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• ARV discount +0.0/15.0
• 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

Here’s your chance to own a well maintained three unit brick apartment building in a prime Akron location. The property features two spacious 2 bed 1 bath units and one 1 bed 1 bath unit, each with its own dedicated garage bay and separate water, gas, and electric meters. One unit is currently vacant, offering immediate upside for an owner occupant or investor looking to place their own tenant at market rent. A lower level common area provides separate laundry hookups for each unit. Recent upgrades include new flooring in all units within the past two years. Mechanical systems are in good condition, helping keep maintenance low and operations reliable. Tenants pay all utilities except common electric, which the owner covers for exterior lighting and shared spaces. Located on a quiet dead end street with Sand Run Metro Park as your backyard, yet just minutes from Summit Mall, Stan Hywet, and quick access to I 77, this property offers a rare mix of convenience and peaceful surroundings. Public transit is also nearby.

Key facts

• Recent upgrades
• New flooring
• Dedicated garage bay

Tags

• DEDICATED GARAGE BAY
• LOWER LEVEL COMMON AREA
• SEPARATE LAUNDRY HOOKUPS
• RECENT UPGRADES
• NEW FLOORING
• MECHANICAL SYSTEMS

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 1×1bd/1ba units multifamily listed at $295k.

Deal economics

• At list price, monthly cash flow is $723 ($9k/yr) — positive. Per door: $241/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $295k).
• Recommended offer: $268k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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: Case Community Learning Center (math 27% / reading 37%, grade F, #1,135 of 1,584 statewide, top 73%, 379 students, 0% FRL); Litchfield Community Learning Center (math 18% / reading 26%, grade F, #602 of 654 statewide, top 93%, 561 students, 0% FRL); Firestone Community Learning Center (math 21% / reading 51%, grade F, #579 of 781 statewide, top 74%, 1,162 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.
• Market conditions: Rents rising fast (+8.0%/yr); 128 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• At $3,443/mo this rent would consume 55% of the median local household income ($76k/yr) (locally 1193% 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 $9k 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 + 8.0% rent growth), your $83k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• 11 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 $185k; list at $295k implies a 59% gain — meaningful room to come down on a strong offer.

Recommended offer $268,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.17% ✓
• Cap rate: 9.23%
• Cash-on-cash: 10.50%
• DSCR: 1.47
• GRM: 7.1

CMA / ARV

• ARV (median comp): $198,331
• List price: $295,000
• Delta: 48.74%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1834-1836 Cromwell Dr	0.05mi	4/2.0 (-1)	2,756 (+5%)	9mo	$180,000	$65	74
1633-1635 Liberty Dr	0.64mi	4/3.0 (-1)	2,520 (-4%)	8mo	$210,000	$83	51
463-465 Treeside Dr	0.32mi	4/2.0 (-1)	2,322 (-12%)	16mo	$195,463	$84	43
1697-1699 Liberty Dr	0.63mi	4/2.0 (-1)	2,450 (-7%)	9mo	$265,000	$108	43
1623-1625 Liberty Dr	0.64mi	4/3.0 (-1)	2,382 (-10%)	8mo	$210,000	$88	43

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 · 7.98% rent growth · sell at horizon

5-year hold

• IRR: 4.9%
• Equity multiple: 1.20×
• Total profit: $16,385
• Equity at exit: $43,985

10-year hold

• IRR: 18.4%
• Equity multiple: 2.89×
• Total profit: $156,095
• Equity at exit: $25,506

Cash invested: $82,600 (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 44313

• Rents YoY: 8.0%
• Active inventory: 128
• Price-to-rent: 20.8×

Monthly cashflow live

• Estimated rent: $3,443 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$327 /mo · $3,926/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$723
• Net cashflow: $723

Break-even live

Break-even rent $2,528

Max offer price $295,000

Occupancy floor 74%

Sensitivity live

Price	-10% $890	-5% $806	+0% $723	+5% $639	+10% $556
Rent	-10% $451	-5% $587	+0% $723	+5% $859	+10% $995
Rate	-1.0pp $871	-0.5pp $798	base $723	+0.5pp $646	+1.0pp $569

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,364
1× unit	1	1	$1,079
Total (3 units)			$3,443

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1183 Romayne Dr Akron, OH	4.0	2.0	2024	$2,400	$1.19	25d	1	1.12mi

Listing history 42 events

1. 2026-06-18
   days on market $295,000 Active 104 DOM
2. 2026-06-17
   days on market $295,000 Active 103 DOM
3. 2026-06-16
   days on market $295,000 Active 102 DOM
4. 2026-06-15
   days on market $295,000 Active 101 DOM
5. 2026-06-14
   days on market $295,000 Active 99 DOM
6. 2026-06-13
   days on market $295,000 Active 98 DOM
7. 2026-06-10
   days on market $295,000 Active 96 DOM
8. 2026-06-09
   days on market $295,000 Active 95 DOM
9. 2026-06-08
   days on market $295,000 Active 94 DOM
10. 2026-06-07
    days on market $295,000 Active 93 DOM
11. 2026-06-05
    days on market $295,000 Active 90 DOM
12. 2026-06-03
    days on market $295,000 Active 89 DOM
13. 2026-06-02
    days on market $295,000 Active 88 DOM
14. 2026-06-01
    days on market $295,000 Active 87 DOM
15. 2026-05-31
    days on market $295,000 Active 86 DOM
16. 2026-05-31
    days on market $295,000 Active 85 DOM
17. 2026-03-06
    listed $295,000 Active 1036-char remark

    Show marketing remark (1036 chars)

    Here’s your chance to own a well maintained three unit brick apartment building in a prime Akron location. The property features two spacious 2 bed 1 bath units and one 1 bed 1 bath unit, each with its own dedicated garage bay and separate water, gas, and electric meters. One unit is currently vacant, offering immediate upside for an owner occupant or investor looking to place their own tenant at market rent. A lower level common area provides separate laundry hookups for each unit. Recent upgrades include new flooring in all units within the past two years. Mechanical systems are in good condition, helping keep maintenance low and operations reliable. Tenants pay all utilities except common electric, which the owner covers for exterior lighting and shared spaces. Located on a quiet dead end street with Sand Run Metro Park as your backyard, yet just minutes from Summit Mall, Stan Hywet, and quick access to I 77, this property offers a rare mix of convenience and peaceful surroundings. Public transit is also nearby.

18. 2025-05-05
    historical $700
19. 2025-05-01
    listed $700
20. 2025-04-01
    historical $700
21. 2025-04-01
    listed $700
22. 2022-03-10
    soldstatus $185,000
23. 2018-08-14
    status Active
24. 2018-08-14
    historical
25. 2018-07-23
    historical Contingent
26. 2018-06-21
    listed $124,900 Active
27. 2015-09-03
    soldstatus $67,500
28. 2007-11-15
    historical
29. 2007-05-15
    listed $155,000
30. 2005-12-02
    soldstatus $145,500
31. 2005-12-02
    soldstatus $145,500
32. 2005-08-31
    listed $152,900
33. 2005-03-01
    soldstatus $120,000
34. 2005-02-23
    historical
35. 2004-11-22
    listed $124,900
36. 1999-08-03
    soldstatus $127,000
37. 1999-05-10
    listed $129,900
38. 1995-12-01
    historical
39. 1995-11-17
    soldstatus $92,000
40. 1995-06-02
    listed $99,900
41. 1994-12-27
    historical
42. 1993-06-01
    listed $109,999

ⓘ 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: $3,926 · $327/mo
• Projected year-2 tax: $4,264 · $355/mo
• Expected delta: +$338/yr (+$28/mo · 8.6%)

ⓘ 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 ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,316
• − Mortgage interest: −$16,525
• − Property taxes: −$3,926
• − Insurance: −$1,475
• − Repairs & maintenance: −$3,305
• − Management: −$3,305
• − Depreciation: −$8,582
• Taxable income: $4,198
• Est. tax owed @ 24.0%: −$1,008
• After-tax cash flow: $7,667/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): 26,631
• Household income: $75,671
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 1193.0

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 (67%)
• Race & ethnicity: White 67% Black 22% Two or more races 8% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 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: ▼ -164.43%
• Current HPI: 208.6149
• Rent YoY: ▲ 7.98%
• 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

+168.2% since first listed

26 events — show timeline

• 2026-03-06 Listed $295,000 MLSNOW
• 2025-05-05 Rental Removed $700 SHOWMOJO2
• 2025-05-01 Listed for Rent $700 SHOWMOJO2
• 2025-04-01 Rental Removed $700 SHOWMOJO
• 2025-04-01 Listed for Rent $700 SHOWMOJO
• 2022-03-10 Sold (Public Records) $185,000 Public Records
• 2018-08-14 Relisted — MLSNOW
• 2018-08-14 Listing Removed — MLSNOW
• 2018-07-23 Contingent — MLSNOW
• 2018-06-21 Listed $124,900 MLSNOW
• 2015-09-03 Sold (Public Records) $67,500 Public Records
• 2007-11-15 Listing Removed — MLSNOW
• 2007-05-15 Listed $155,000 MLSNOW
• 2005-12-02 Sold (Public Records) $145,500 Public Records
• 2005-12-02 Sold (MLS) $145,500 MLSNOW
• 2005-08-31 Listed $152,900 MLSNOW
• 2005-03-01 Sold (MLS) $120,000 MLSNOW
• 2005-02-23 Listing Removed — MLSNOW
• 2004-11-22 Listed $124,900 MLSNOW
• 1999-08-03 Sold (Public Records) $127,000 Public Records
• 1999-05-10 Listed $129,900 MLSNOW
• 1995-12-01 Listing Removed — MLSNOW
• 1995-11-17 Sold (Public Records) $92,000 Public Records
• 1995-06-02 Listed $99,900 MLSNOW
• 1994-12-27 Listing Removed — MLSNOW
• 1993-06-01 Listed $109,999 MLSNOW

Property tax history

+1.3%/yr

Latest (2025): $3,926 · +2.8% YoY. Source: county tax records.