1637 Hanover St · Cuyahoga Falls, OH 44221

$170,000

4 bd · 1.0 ba · 1,358 sqft · SingleFamily public records · 3 Days on market

Built 1953 8,150 sqft lot $125/sqft · 10% below area Est $212k · 20% under

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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 +23.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +6.3/10.0
• Schools +4.5/10.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bring your decorating ideas to this solid, 4 bedroom cape with oversized 2 car garage. Two bedrooms on the first floor and two bedrooms up. A formal dining room or sun room has been added just off the kitchen. First floor laundry to make one floor living a possibility. Backyard is fully fenced and with a patio. Home is being sold “as is. ” Priced to sell! Home is being sold "as-is. "

Key facts

• Private laundry room
• Fully fenced yard
• Accent wall

Tags

• WOOD BURNING FIREPLACE
• STAINLESS STEEL APPLIANCES
• FULLY FENCED YARD
• PRIVATE LAUNDRY ROOM
• ACCENT WALL

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: Detached garage with 2 parking spaces
• Utilities: Public water; Public sewer
• Home design: Two-story home; Asphalt/fiberglass roof; Aluminum siding
• Construction: Built (year per public records); Aluminum siding construction; Asphalt/fiberglass roof
• Exterior features: Patio; Full chain-link fencing

Interior

• Bedrooms: Two main-level bedrooms
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Central air conditioning; Forced-air gas heating
• Interior features: Seven total rooms; Wood-burning fireplace

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Cap rate 8.4% vs local median 4.6% in Cuyahoga Falls — 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 83/100 on livability (#60 in OH, #870 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Cuyahoga Falls City (suburban): math 47% / reading 58% proficiency, ranked #408 of 656 in OH (top 62%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+7.0%/yr); 92 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• This rent runs 36% of the median local income ($63k/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.
• 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 + 7.0% rent growth), your $48k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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 $112k; list at $170k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $170,000

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.13% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.63%
• DSCR: 1.34
• GRM: 7.4

CMA / ARV

• ARV (median comp): $212,482
• List price: $170,000
• Delta: -19.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1011 Cooper Dr	0.07mi	3/1.0 (-1)	1,330 (-2%)	2mo	$187,100	$141	87
1471 Bancroft St	0.18mi	3/2.0 (-1)	1,322 (-3%)	4mo	$224,000	$169	75
1845 Seattle St	0.55mi	4/2.0	1,364 (+0%)	2mo	$205,000	$150	68
619 Tallmadge Rd	0.36mi	3/1.0 (-1)	1,284 (-5%)	4mo	$224,900	$175	66
1468 Curtis Ave	0.63mi	3/1.0 (-1)	1,351 (-0%)	3mo	$210,000	$155	62
2155 Bailey Rd	0.67mi	4/1.0	1,395 (+3%)	3mo	$215,000	$154	61
880 Markham Ave	0.16mi	3/1.5 (-1)	1,550 (+14%)	1mo	$295,000	$190	61
416 Prospect Ave	0.60mi	3/2.0 (-1)	1,320 (-3%)	3mo	$205,000	$155	56
1729 Newberry St	0.68mi	4/2.0	1,464 (+8%)	1mo	$179,000	$122	50
1210 Myrtle Ave	0.56mi	4/1.0	1,155 (-15%)	2mo	$206,000	$178	48
562 Tallmadge Rd	0.46mi	3/1.5 (-1)	1,560 (+15%)	3mo	$229,900	$147	44
425 Myrtle Ave	0.74mi	3/1.5 (-1)	1,224 (-10%)	1mo	$222,500	$182	41

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 · 6.95% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-292
• Equity at exit: $25,348

10-year hold

• IRR: 13.3%
• Equity multiple: 2.26×
• Total profit: $60,080
• Equity at exit: $14,698

Cash invested: $47,600 (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 44221

• Rents YoY: 7.0%
• Active inventory: 92
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,919 high
• Mortgage (P&I): −$891
• Tax from tax record: −$251 /mo · $3,014/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $303

Break-even live

Break-even rent $1,536

Max offer price $170,000

Occupancy floor 79%

Sensitivity live

Price	-10% $399	-5% $351	+0% $303	+5% $254	+10% $206
Rent	-10% $151	-5% $227	+0% $303	+5% $378	+10% $454
Rate	-1.0pp $388	-0.5pp $346	base $303	+0.5pp $259	+1.0pp $214

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1791 Windsor St Cuyahoga Falls, OH	3.0	1.0	1120	$1,929	$1.72	15d	1	0.24mi
1975 Tudor St Cuyahoga Falls, OH	3.0	1.0	1120	$1,475	$1.32	44d	1	0.39mi
1276 Bailey Rd Cuyahoga Falls, OH	3.0	2.0	1188	$1,800	$1.52	44d	1	0.44mi
467 Lynn Dr Cuyahoga Falls, OH	3.0	1.0	1414	$1,600	$1.13	15d	1	0.64mi
1059 Jean Ave Akron, OH	3.0	1.0	1012	$1,300	$1.28	44d	1	1.11mi
1823 7th St Cuyahoga Falls, OH	3.0	1.5	1248	$2,850	$2.28	44d	1	1.32mi

Listing history 7 events

1. 2026-05-18
   status Pending 571-char remark
2. 2026-05-14
   listed $170,000 Active 571-char remark
3. 2019-11-26
   soldstatus $112,250 Closed 408-char remark

   Show marketing remark (408 chars)

   Bring your decorating ideas to this solid, 4 bedroom cape with oversized 2 car garage. Two bedrooms on the first floor and two bedrooms up. A formal dining room or sun room has been added just off the kitchen. First floor laundry to make one floor living a possibility. Backyard is fully fenced and with a patio. Home is being sold “as is. ” Priced to sell! Home is being sold "as-is. "

4. 2019-11-26
   soldstatus $112,300

   Show marketing remark (408 chars)

   Bring your decorating ideas to this solid, 4 bedroom cape with oversized 2 car garage. Two bedrooms on the first floor and two bedrooms up. A formal dining room or sun room has been added just off the kitchen. First floor laundry to make one floor living a possibility. Backyard is fully fenced and with a patio. Home is being sold “as is. ” Priced to sell! Home is being sold "as-is. "

5. 2019-10-31
   status Pending 408-char remark

   Show marketing remark (408 chars)

   Bring your decorating ideas to this solid, 4 bedroom cape with oversized 2 car garage. Two bedrooms on the first floor and two bedrooms up. A formal dining room or sun room has been added just off the kitchen. First floor laundry to make one floor living a possibility. Backyard is fully fenced and with a patio. Home is being sold “as is. ” Priced to sell! Home is being sold "as-is. "

6. 2019-10-24
   historical Contingent 408-char remark

   Show marketing remark (408 chars)

   Bring your decorating ideas to this solid, 4 bedroom cape with oversized 2 car garage. Two bedrooms on the first floor and two bedrooms up. A formal dining room or sun room has been added just off the kitchen. First floor laundry to make one floor living a possibility. Backyard is fully fenced and with a patio. Home is being sold “as is. ” Priced to sell! Home is being sold "as-is. "

7. 2019-10-22
   listed $115,000 Active 408-char remark

   Show marketing remark (408 chars)

   Bring your decorating ideas to this solid, 4 bedroom cape with oversized 2 car garage. Two bedrooms on the first floor and two bedrooms up. A formal dining room or sun room has been added just off the kitchen. First floor laundry to make one floor living a possibility. Backyard is fully fenced and with a patio. Home is being sold “as is. ” Priced to sell! Home is being sold "as-is. "

ⓘ 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: $3,014 · $251/mo
• Projected year-2 tax: $3,014 · $251/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 ≥96°F today · 17 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: $23,029
• − Mortgage interest: −$9,523
• − Property taxes: −$3,014
• − Insurance: −$850
• − Repairs & maintenance: −$1,842
• − Management: −$1,842
• − Depreciation: −$4,945
• Taxable income: $1,013
• Est. tax owed @ 24.0%: −$243
• After-tax cash flow: $3,388/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: Cuyahoga Falls City
• NCES district ID: 3904383
• Math proficiency: 47% ▼ -18.00%
• Reading proficiency: 58% ▼ -7.00%
• Median HH income: $49,587
• Composite: 44.78/100
• National rank: #2746
• State rank: #408 of 656 in OH

Livability — Cuyahoga Falls

• Score: 83/100
• State rank: #60
• US rank: #870

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cuyahoga Falls, OH
• County: Summit County · 440,783 people
• City population: 47,005
• Metro: Akron, OH
• Population (ZIP): 28,546
• Household income: $63,342
• Rent vs Own: 38.5% rent · 61.5% own
• Severe rent burden: 1080.0

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 (81%)
• Race & ethnicity: White 81% Asian 7% Black 5% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Romanian 4% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 7% · India, China, Canada
• Languages at home: 90% English-only · Other Indo-European 6% Other Asian/Pacific 1% German/W. Germanic 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: ▼ -222.74%
• Current HPI: 213.5428
• Rent YoY: ▲ 6.95%
• 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

+47.8% since first listed

7 events — show timeline

• 2026-05-18 Pending — MLSNOW
• 2026-05-14 Listed $170,000 MLSNOW
• 2019-11-26 Sold (Public Records) $112,300 Public Records
• 2019-11-26 Sold (MLS) $112,250 MLSNOW
• 2019-10-31 Pending — MLSNOW
• 2019-10-24 Contingent — MLSNOW
• 2019-10-22 Listed $115,000 MLSNOW

Property tax history

+6.3%/yr

Latest (2025): $3,014 · -1.8% YoY. Source: county tax records.