6235 Manchester Rd · New Franklin, OH 44216

$119,900

4 bd · 3.0 ba · 1,632 sqft · SingleFamily · 114 Days on market

Built 1860 0.55 ac lot ↓ 17% since listing

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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 +20.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• Schools +6.3/10.0
• 1% rule +5.4/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Centrally located on the outskirts of "Portage Lakes", within minutes to Portage Lakes State Park w/ Public Boat Launches, Fishing & more (See attached photos). 2 Kitchens, although one Kitchen needs to have sink-etc. re-installed, 4 Bedrooms & 3 Full Bathrooms. Sold "AS IS * NO SELLER FINANCING" Cash sale Preferred * Beautifully located on over a Half Acre Lot * Use your Talents and Elbow grease to make this Home Shine again! This Home Offers A 1st floor Bedroom & 2 Full Bathrooms on the 1st Floor, an Enclosed Porch and a Walk-Out Basement. * Occupied Month to Month w/ No lease--NO seller financing * * Per seller: Need 24 hr notice to show "

Key facts

• 1st floor bedroom
• 2 kitchens
• Centrally located

Tags

• CENTRALLY LOCATED
• PORTAGE LAKES STATE PARK
• PUBLIC BOAT LAUNCHES
• FISHING
• 2 KITCHENS
• 1ST FLOOR BEDROOM

Property features AI

Exterior

• Parking: Detached garage (1 car); Driveway; RV access/parking (unpaved)
• Utilities: Well water; Septic tank
• Home design: Two-story home; Shingle roof
• Construction: Built (year per public records); Shingle roof
• Exterior features: Enclosed porch; Patio; Front porch; Back yard; Wooded lot; Has a view

Interior

• Kitchen: Second kitchen (first floor); Eat-in kitchen (first floor)
• Bedrooms: Bedroom on main level with private exterior door to backyard; Three bedrooms on the second level
• Flooring: Wood flooring in several second-floor bedrooms; Carpet in living room, dining room, main-level bedroom, and sunroom; Linoleum in kitchens; Laminate and other flooring in some bathrooms
• Bathrooms: Three full bathrooms; Second full bathroom with tub/shower combo; Full bathroom with tub/shower combo on first floor; Second-floor bathroom includes dressing area with closet
• Heating & cooling: Forced air gas heating
• Interior features: Full, unfinished basement with walk-out access; Enclosed porch / sunroom with many windows; Living room opens to enclosed porch; Eat-in kitchen with plumbing stub for sink between tall cabinetry
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $160 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 4.3% in New Franklin — 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 71/100 on livability (#424 in OH) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Manchester Local (suburban): math 71% / reading 75% proficiency, ranked #112 of 656 in OH (top 17%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 20 active listings in the ZIP; solid renter incomes; 1,114 units permitted in Summit County in 2024 (397 in 5+ unit buildings).
• This rent is only 16% of the median local income ($96k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 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.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,109 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.04% ✓
• Cap rate: 7.89%
• Cash-on-cash: 5.71%
• DSCR: 1.25
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-9,244
• Equity at exit: $17,877

10-year hold

• IRR: 2.1%
• Equity multiple: 1.15×
• Total profit: $5,117
• Equity at exit: $10,367

Cash invested: $33,572 (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 44216

• Active inventory: 20
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,251 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $160

Break-even live

Break-even rent $1,049

Max offer price $119,900

Occupancy floor 82%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $119,900 Active 114 DOM
2. 2026-06-17
   days on market $119,900 Active 113 DOM
3. 2026-06-16
   days on market $119,900 Active 112 DOM
4. 2026-06-15
   days on market $119,900 Active 111 DOM
5. 2026-06-13
   days on market $119,900 Active 109 DOM
6. 2026-06-12
   status $119,900 Active 108 DOM
7. 2026-06-03
   status $119,900 Pending 108 DOM
8. 2026-06-02
   days on market $119,900 Active 108 DOM
9. 2026-06-01
   days on market $119,900 Active 107 DOM
10. 2026-05-31
    days on market $119,900 Active 106 DOM
11. 2026-04-16
    price $119,900
12. 2026-03-21
    price $134,900
13. 2026-02-14
    listed $145,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,011
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$600
• − Repairs & maintenance: −$1,201
• − Management: −$1,201
• − Depreciation: −$3,488
• Taxable income: $7
• Est. tax owed @ 24.0%: −$2
• After-tax cash flow: $1,914/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: Manchester Local
• NCES district ID: 3905000
• Math proficiency: 71% ▼ -11.00%
• Reading proficiency: 75% ▼ -4.00%
• Median HH income: $62,055
• Composite: 63.0/100
• National rank: #653
• State rank: #112 of 656 in OH

Livability — New Franklin

• Score: 71/100
• State rank: #424
• US rank: #6949

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Franklin, OH
• County: Summit · 539,389 people
• City population: 9,461
• Metro: Akron, OH
• Population (ZIP): 9,461
• Household income: $96,321
• Rent vs Own: 6.3% rent · 93.7% own
• Severe rent burden: 5.8

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 (92%)
• Race & ethnicity: White 92% Two or more races 4% Asian 2% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Slovak 2% Italian 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 97% English-only · Other Indo-European 1% Spanish 1% German/W. Germanic 0%

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: ▼ -187.84%
• Current HPI: 226.7928
• Rent YoY: —
• Metro: —
• 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

-17.3% since first listed

3 events — show timeline

• 2026-04-16 Price Changed $119,900 MLSNOW
• 2026-03-21 Price Changed $134,900 MLSNOW
• 2026-02-14 Listed $145,000 MLSNOW