776 Kraus Ct

Akron, OH 44307

$139,900D-

3 bd · 1.0 ba · 600 sqft · Built 1943 · SingleFamily · Active · 494 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,114/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$226
• HOA: −$0
• Vac / Maint / Mgmt: −$234
• Net cashflow: $-80/mo
• Annual: $-958/yr
• Cap rate: 5.61%
• Cash-on-cash: -2.45%
• DSCR: 0.89
• 1% rule: 0.80%
• Cash to close: $39,172

Investor read

• This is a 3-bed/1.0-bath single-family listed at $140k.
• At list price, monthly cash flow is $-80 ($-958/yr) — negative.
• To cash-flow at today's rent, offer at most $126k (10.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (20.4% below list).
• It's been on market 494 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $111k (20.4% below list) — sets the bar for 1% rule.
• In year one you build about $692 of equity ($967 loan paydown + $-275 appreciation (-0.2% local appreciation)).
• 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.
• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 42 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• Summit County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $140k implies a 366% gain — meaningful room to come down on a strong offer.
• At $1,114/mo this rent would consume 48% of the median local household income ($28k/yr) (locally 787% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 494 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.