117-119 Filmore Ave · Cuyahoga Falls, OH 44221

$249,900

4 bd · 2.0 ba · 1,624 sqft · MultiFamily public records · 3 Days on market

Built 1961 6,534 sqft lot Est $252k · at est.

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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 +18.0/30.0
• ARV discount +7.8/15.0
• DSCR +5.6/10.0
• 1% rule +4.8/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

RARE FIND IN CUYAHOGA FALLS! Immaculate, well-maintained brick ranch twinplex showcasing true pride of ownership throughout the years. This turnkey property is ready for immediate occupancy, perfect for an owner-occupant or investor. Per owner (dates approximate): Unit 119: Furnace and central air (3-4 years old), hot water tank (7-8 years old) - per owner. Unit 117: hot water tank (8-9 years old per owner), windows replaced at one point, furnace (approx. 8-9 years old), C/A - older, compressor updated - per owner.

Key facts

• 6,534 sq ft lot
• Garage
• Built 1961

Property features AI

Finance

• Financial info: Owner pays trash collection; Tenant responsible for electricity, gas, water, and sewer

Exterior

• Parking: Converted garage; Driveway; Side-by-side parking; No conventional garage
• Utilities: Public water; Public sewer
• Home design: Single-story brick home; Faces south; Slab foundation
• Construction: Brick construction; Asphalt/fiberglass roof; Built (year source: Assessor)
• Exterior features: Back yard; Front yard; Flat, level lot

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced-air gas heating
• Interior features: Double-pane windows; Total of 8 rooms; One building on the property
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry on main level

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive. Per door: $108/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 $245k (1.9% below list).
• Recommended offer: $245k (1.9% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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); 90 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• At $2,452/mo this rent would consume 46% of the median local household income ($63k/yr) (locally 1080% 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 $7k 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $60k; list at $250k implies a 316% gain — meaningful room to come down on a strong offer.

Recommended offer $245,200 (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 1961 — 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 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?
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: 7.33%
• Cash-on-cash: 3.70%
• DSCR: 1.16
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $251,720
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117-119 Filmore Ave	0.00mi	4/2.0	1,624 (0%)	1mo	$255,000	$157	99
3340-3342 Bailey Rd	0.11mi	5/2.0 (+1)	1,585 (-2%)	10mo	$240,000	$151	78
304/306 Erie St	0.72mi	4/2.0	1,612 (-1%)	9mo	$250,000	$155	58
2813 6th St	0.73mi	4/2.0	1,792 (+10%)	22mo	$191,000	$107	30

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: -6.1%
• Equity multiple: 0.76×
• Total profit: $-16,594
• Equity at exit: $37,261

10-year hold

• IRR: 7.8%
• Equity multiple: 1.69×
• Total profit: $48,478
• Equity at exit: $21,607

Cash invested: $69,972 (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: 90
• Price-to-rent: 17.0×

Monthly cashflow live

• Estimated rent: $2,452 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$307 /mo · $3,682/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$515
• Net cashflow: $216

Break-even live

Break-even rent $2,179

Max offer price $249,900

Occupancy floor 86%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,452
Total (2 units)			$2,452

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
113 Madison Ave Unit 1496128P Cuyahoga Falls, OH	3.0	1.5	1065	$4,259	$4.00	13d	1	0.15mi
2899 Northland St Cuyahoga Falls, OH	4.0	1.0	1424	$1,995	$1.40	14d	1	0.52mi
890 Quail Crk Blvd Cuyahoga Falls, OH	2.0–3.0	2.0	1387	$2,475	$1.78	13d	1	0.56mi
401-407 Pleasant Meadow Blvd Unit 401-203 Stow, OH	3.0	2.0	1528	$1,745	$1.14	43d	1	0.66mi
430 Keenan Ave Cuyahoga Falls, OH	3.0	1.0	1104	$1,325	$1.20	14d	1	0.70mi

Listing history 3 events

1. 2026-05-11
   status Pending
2. 2026-05-08
   listed $249,900 Active
3. 1991-09-23
   soldstatus $60,000

ⓘ 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: $3,682 · $307/mo
• Projected year-2 tax: $3,790 · $316/mo
• Expected delta: +$108/yr (+$9/mo · 2.9%)

ⓘ 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 ≥98°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: $29,424
• − Mortgage interest: −$13,998
• − Property taxes: −$3,682
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,354
• − Management: −$2,354
• − Depreciation: −$7,270
• Taxable loss: −$1,483
• Est. tax savings @ 24.0%: +$356
• After-tax cash flow: $2,944/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

+316.5% since first listed

3 events — show timeline

• 2026-05-11 Pending — MLSNOW
• 2026-05-08 Listed $249,900 MLSNOW
• 1991-09-23 Sold (Public Records) $60,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $3,682 · -1.7% YoY. Source: county tax records.