510 2nd St NE · Massillon, OH 44646

$179,900

4 bd · 2.0 ba · 864 sqft · MultiFamily public records · 4 Days on market

Built 1970 5,549 sqft lot

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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 +21.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +4.8/10.0
• Rent growth +4.0/5.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• 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: 2 units. confirmed

Listing remarks

Excellent investment opportunity featuring two renovated duplexes! Purchase one or both and expand your rental portfolio with these move-in-ready income-producing properties. Each duplex offers recently updated kitchens and bathrooms, new flooring throughout, and updated plumbing, giving tenants modern comfort while minimizing maintenance concerns. Whether you’re looking for the perfect house hack opportunity by living in one unit and renting the others, or searching for turnkey investment properties to add to your portfolio, these duplexes offer flexibility and strong income potential. Great opportunity for investors or owner-occupants alike!

Key facts

• New flooring
• Updated bathrooms
• Updated kitchens

Tags

• RENOVATED DUPLEXES
• UPDATED KITCHENS
• UPDATED BATHROOMS
• NEW FLOORING
• UPDATED PLUMBING
• INCOME-PRODUCING PROPERTIES

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: 2-story home; Brick and vinyl siding exterior; Asphalt roof
• Construction: Built (year per public records); Brick and vinyl siding construction; Asphalt roof
• Exterior features: Public water; Public sewer; Lot approximately 0.1274 acres

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher not listed
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Heating present
• Interior features: Two full bathrooms
• Laundry & utility: Washer and Dryer located in the kitchen

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $270 ($3k/yr) — positive. Per door: $135/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (1.9% below list).
• Recommended offer: $176k (1.9% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 3.9% in Massillon — 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 74/100 on livability (#306 in OH, #4,928 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: employment C-, amenities F, commute F.
• Massillon City (urban): math 43% / reading 52% proficiency, ranked #487 of 656 in OH (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.0%/yr); 208 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 528 units permitted in Stark County in 2024 (84 in 5+ unit buildings).
• This rent runs 31% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Stark County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 6.0% rent growth), your $50k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $120k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $176,500 (1.9% 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 1970 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.98% ✗
• Cap rate: 8.10%
• Cash-on-cash: 6.44%
• DSCR: 1.29
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.04% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.87×
• Total profit: $-6,413
• Equity at exit: $26,824

10-year hold

• IRR: 9.3%
• Equity multiple: 1.81×
• Total profit: $40,702
• Equity at exit: $15,554

Cash invested: $50,372 (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 44646

• Rents YoY: 6.0%
• Active inventory: 208
• Price-to-rent: 17.0×

Monthly cashflow live

• Estimated rent: $1,765 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$106 /mo · $1,267/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $270

Break-even live

Break-even rent $1,423

Max offer price $179,900

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,766
Total (2 units)			$1,765

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1715 Connecticut Ave SE Massillon, OH	3.0	1.0	1048	$1,200	$1.15	43d	1	1.06mi
717 15th St SW Massillon, OH	3.0	1.0	936	$1,250	$1.34	43d	1	1.39mi

Listing history 2 events

1. 2026-05-20
   listed $179,900 Active
2. 2024-06-06
   soldstatus $120,000

ⓘ 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: $1,267 · $106/mo
• Projected year-2 tax: $2,037 · $170/mo
• Expected delta: +$770/yr (+$64/mo · 60.8%)

ⓘ 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,180
• − Mortgage interest: −$10,077
• − Property taxes: −$1,267
• − Insurance: −$900
• − Repairs & maintenance: −$1,694
• − Management: −$1,694
• − Depreciation: −$5,233
• Taxable income: $314
• Est. tax owed @ 24.0%: −$75
• After-tax cash flow: $3,170/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: Massillon City
• NCES district ID: 3904435
• Math proficiency: 43% ▼ -14.00%
• Reading proficiency: 52% ▼ -11.00%
• Median HH income: $38,094
• Composite: 39.54/100
• National rank: #3941
• State rank: #487 of 656 in OH

Livability — Massillon

• Score: 74/100
• State rank: #306
• US rank: #4928

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Massillon, OH
• County: Stark County · 272,865 people
• City population: 65,858
• Metro: Canton-Massillon, OH
• Population (ZIP): 47,741
• Household income: $69,179
• Rent vs Own: 32.2% rent · 67.8% own
• Severe rent burden: 1011.0

Population outlook (Stark County) Hauer SSP2

• Today (2025): 373,708 people
• By 2030: 371,245 · -0.7%
• By 2040: 361,331 · -3.3%
• By 2050: 345,290 · -7.6%
• By 2075: 302,669 · -19.0%
• By 2100: 238,870 · -36.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 7% Two or more races 5% Hispanic / Latino 3% Asian 1%
• Common ancestry: Lithuanian 3% Romanian 2% Scandinavian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Stark

• 2024 margin: Strong R (+21.9) · D 38.6% · R 60.5%
• 2008→2024 swing: -27.4pp toward R · 2008: 5.5pp · 2024: -21.9pp
• All cycles: 2024: R+21.9 2020: R+18.5 2016: R+17.4 2012: R+0.4 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -190.31%
• Current HPI: 217.8955
• Rent YoY: ▲ 6.04%
• Metro: Canton-Massillon, 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

+49.9% since first listed

2 events — show timeline

• 2026-05-20 Listed $179,900 MLSNOW
• 2024-06-06 Sold (Public Records) $120,000 Public Records

Property tax history

+0.4%/yr

Latest (2024): $1,267 · -9.8% YoY. Source: county tax records.