973 W Exchange St · Akron, OH 44302

$134,900

4 bd · 2.0 ba · 2,138 sqft · MultiFamily public records · 32 Days on market

Built 1893 7,544 sqft lot Est $130k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +6.0/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• 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

Duplex for sale in Akron, Ohio! Located in West Akron near Highland Square, the University of Akron, and convenient access to I-77/76, 973 W Exchange St offers a flexible multi-family opportunity for investors, owner-occupants, or buyers looking to relocate to the Akron area. This move-in ready duplex features two units: a spacious 3-bedroom, 1-bath main unit and a 1-bedroom, 1-bath studio-style unit with a loft. Live in one unit and rent the other, lease both units, or use the additional space for guests, a home office, or creative space. With close proximity to parks, dining, shopping, downtown Akron, and major area conveniences, this property offers historic charm, functionality, and mul

Key facts

• 7,544 sq ft lot
• Parking
• Built 1893

Tags

• MULTI-FAMILY OPPORTUNITY
• CLOSE PROXIMITY TO PARKS
• CLOSE PROXIMITY TO DINING
• CLOSE PROXIMITY TO SHOPPING

Property features AI

Finance

• Other: Property listed as fixer and updated/remodeled; Single building on the lot

Exterior

• Parking: Driveway parking
• Utilities: Public water; Public sewer
• Home design: Two-story home; Above-grade finished living area about 2,183
• Construction: Vinyl and wood siding; Asphalt/fiberglass roof; Built (year per public records)
• Exterior features: Gravel driveway

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating (gas); Ceiling fan(s) for cooling
• Interior features: Full basement
• Laundry & utility: Washer; Dryer located in basement

What this means for you Summary

Snapshot

• This is a 1×3bd/1.0ba + 1×1bd/1.0ba units multifamily listed at $135k.

Deal economics

• At list price, monthly cash flow is $671 ($8k/yr) — positive. Per door: $336/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.3% 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.
• Market conditions: 27 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% 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).
• At $2,173/mo this rent would consume 62% of the median local household income ($42k/yr) (locally 372% 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 $933 of loan paydown is wiped out by about $4k 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 + 3.0% rent growth), your $38k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 27y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1893 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,853 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% 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 1893 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.61% ✓
• Cap rate: 12.26%
• Cash-on-cash: 21.32%
• DSCR: 1.95
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $130,418
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
120 Beck Ave	0.46mi	3/2.0 (-1)	2,145 (+0%)	7mo	$120,000	$56	67
38 Grand Ave	0.29mi	3/3.0 (-1)	2,248 (+5%)	10mo	$193,750	$86	61
124 Beck Ave	0.47mi	4/3.0	2,225 (+4%)	10mo	$135,000	$61	59
916-918 Peckham St	0.48mi	4/2.0	1,960 (-8%)	7mo	$135,000	$69	58
1049 Jefferson Ave	0.23mi	4/3.0	1,972 (-8%)	18mo	$115,000	$58	57
150 S Portage Path	0.22mi	4/2.0	1,934 (-10%)	20mo	$139,900	$72	57
891-893 Stadelman Ave	0.23mi	5/2.0 (+1)	2,404 (+12%)	11mo	$82,000	$34	54
532 Crosby St	0.70mi	4/3.0	2,396 (+12%)	22mo	$105,000	$44	25

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.9%
• Equity multiple: 1.56×
• Total profit: $20,990
• Equity at exit: $20,114

10-year hold

• IRR: 22.7%
• Equity multiple: 2.95×
• Total profit: $73,738
• Equity at exit: $11,664

Cash invested: $37,772 (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 44302

• Active inventory: 27
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,173 high
• Mortgage (P&I): −$707
• Tax from tax record: −$282 /mo · $3,382/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $671

Break-even live

Break-even rent $1,323

Max offer price $134,900

Occupancy floor 64%

Sensitivity live

Price	-10% $748	-5% $709	+0% $671	+5% $633	+10% $595
Rent	-10% $500	-5% $585	+0% $671	+5% $757	+10% $843
Rate	-1.0pp $739	-0.5pp $705	base $671	+0.5pp $636	+1.0pp $601

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,219
1× unit	1	1	$954
Total (2 units)			$2,173

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
900 W Market St Akron, OH	2.0–3.0	1.5–2.0	1880	$2,340	$1.24	24d	6	0.24mi
713 Crosby St Unit 1496092P Akron, OH	3.0	2.0	1840	$5,078	$2.76	22d	1	0.36mi
80 N Portage Path Akron, OH	2.0–3.0	2.0	1462	$1,720	$1.18	45d	1	0.36mi
25 N Rose Blvd Unit 1496095P Akron, OH	4.0	2.5	1603	$9,078	$5.66	22d	1	0.40mi
321 Grace Ave Akron, OH	3.0	2.0	1484	$1,175	$0.79	15d	1	0.40mi
295 Noble Ave Akron, OH	3.0	2.5	1488	$1,600	$1.08	45d	1	0.43mi
91 N Portage Path Akron, OH	4.0	2.5	2713	$2,260	$0.83	45d	1	0.43mi
378 Wildwood Ave Akron, OH	4.0	1.0	1544	$1,200	$0.78	45d	1	0.43mi
218 Twin Oaks Rd Unit 222-16 Akron, OH	3.0	2.0	1400	$1,500	$1.07	45d	1	0.65mi
91 Westwood Ave Akron, OH	3.0	1.0	1631	$1,450	$0.89	15d	1	0.70mi
677 Crossings Ln Akron, OH	3.0	2.5	1440	$1,950	$1.35	24d	1	0.82mi
686 East Ave Akron, OH	4.0	2.0	2032	$1,700	$0.84	45d	1	1.03mi
311 Crestwood Ave Akron, OH	4.0	2.0	1800	$1,395	$0.78	45d	1	1.04mi

Listing history 50 events

1. 2026-06-21
   days on market $134,900 Active 32 DOM
2. 2026-06-18
   days on market $134,900 Active 29 DOM
3. 2026-06-17
   days on market $134,900 Active 28 DOM
4. 2026-06-16
   days on market $134,900 Active 27 DOM
5. 2026-06-15
   days on market $134,900 Active 26 DOM
6. 2026-06-14
   days on market $134,900 Active 24 DOM
7. 2026-06-13
   days on market $134,900 Active 23 DOM
8. 2026-06-10
   days on market $134,900 Active 21 DOM
9. 2026-06-09
   days on market $134,900 Active 20 DOM
10. 2026-06-08
    days on market $134,900 Active 19 DOM
11. 2026-06-07
    statusdays on market $134,900 Active 18 DOM
12. 2026-06-05
    days on market $134,900 Contingent 15 DOM
13. 2026-06-03
    days on market $134,900 Contingent 14 DOM
14. 2026-06-02
    days on market $134,900 Contingent 13 DOM
15. 2026-06-01
    statusdays on market $134,900 Contingent 12 DOM
16. 2026-05-31
    days on market $134,900 Active 11 DOM
17. 2026-05-31
    days on market $134,900 Active 10 DOM
18. 2026-05-20
    listed $134,900 Active
19. 2026-05-16
    historical
20. 2026-05-08
    listed $134,900 Active
21. 2025-08-20
    historical
22. 2025-07-09
    status Active
23. 2025-07-09
    status Active
24. 2025-06-19
    status Pending
25. 2025-06-19
    status Pending
26. 2025-06-10
    listed $149,900 Active
27. 2025-06-09
    listed $149,900 Active
28. 2024-11-22
    soldstatus $145,000
29. 2024-11-20
    status Active
30. 2024-11-20
    historical
31. 2024-11-20
    soldstatus $145,000 Closed
32. 2024-10-09
    status Pending
33. 2024-10-03
    status Pending
34. 2024-09-26
    listed $150,000 Active
35. 2024-09-26
    listed $150,000 Active
36. 2021-06-04
    soldstatus $93,000 Closed
37. 2021-03-01
    status Pending
38. 2021-01-28
    historical Contingent
39. 2020-12-18
    listed $100,000 Active
40. 2020-12-11
    historical $100,000
41. 2009-02-20
    historical
42. 2008-05-20
    listed $64,000
43. 2007-09-30
    historical
44. 2007-09-30
    historical
45. 2006-07-17
    listed $89,000
46. 2006-06-17
    listed $89,000
47. 2000-06-26
    soldstatus $58,250
48. 2000-05-20
    historical
49. 2000-05-20
    historical
50. 1999-08-23
    listed $62,900

ⓘ 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: $3,382 · $282/mo
• Projected year-2 tax: $3,382 · $282/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,076
• − Mortgage interest: −$7,556
• − Property taxes: −$3,382
• − Insurance: −$674
• − Repairs & maintenance: −$2,086
• − Management: −$2,086
• − Depreciation: −$3,924
• Taxable income: $6,366
• Est. tax owed @ 24.0%: −$1,528
• After-tax cash flow: $6,526/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): 5,474
• Household income: $42,400
• Rent vs Own: 53.9% rent · 46.1% own
• Severe rent burden: 372.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 51% Black 34% Two or more races 8% Asian 4% Hispanic / Latino 2%
• Common ancestry: Slovak 6% Romanian 3% Lithuanian 2%
• Foreign-born: 7% · India, Canada
• Languages at home: 95% English-only · German/W. Germanic 2% 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: ▼ -127.53%
• Current HPI: 209.7327
• 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

+114.5% since first listed

34 events — show timeline

• 2026-05-20 Listed $134,900 MLSNOW
• 2026-05-16 Listing Removed — MLSNOW
• 2026-05-08 Listed $134,900 MLSNOW
• 2025-08-20 Listing Removed — MLSNOW
• 2025-07-09 Relisted — MARMLS
• 2025-07-09 Relisted — MLSNOW
• 2025-06-19 Pending — MARMLS
• 2025-06-19 Pending — MLSNOW
• 2025-06-10 Listed $149,900 MARMLS
• 2025-06-09 Listed $149,900 MLSNOW
• 2024-11-22 Sold (Public Records) $145,000 Public Records
• 2024-11-20 Relisted — MLSNOW
• 2024-11-20 Sold (MLS) $145,000 MLSNOW
• 2024-11-20 Listing Removed — MLSNOW
• 2024-10-09 Pending — MLSNOW
• 2024-10-03 Pending — MLSNOW
• 2024-09-26 Listed $150,000 MLSNOW
• 2024-09-26 Listed $150,000 MLSNOW
• 2021-06-04 Sold (MLS) $93,000 MLSNOW
• 2021-03-01 Pending — MLSNOW
• 2021-01-28 Contingent — MLSNOW
• 2020-12-18 Listed $100,000 MLSNOW
• 2020-12-11 Coming Soon $100,000 MLSNOW
• 2009-02-20 Listing Removed — MLSNOW
• 2008-05-20 Listed $64,000 MLSNOW
• 2007-09-30 Listing Removed — MLSNOW
• 2007-09-30 Listing Removed — MLSNOW
• 2006-07-17 Listed $89,000 MLSNOW
• 2006-06-17 Listed $89,000 MLSNOW
• 2000-06-26 Sold (Public Records) $58,250 Public Records
• 2000-05-20 Listing Removed — MLSNOW
• 2000-05-20 Listing Removed — MLSNOW
• 1999-08-23 Listed $62,900 MLSNOW
• 1999-07-26 Listed $62,900 MLSNOW

Property tax history

+6.3%/yr

Latest (2025): $3,382 · +3.2% YoY. Source: county tax records.