2375 Covington Rd APT 316AkronOH44313
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe cash-flow margin at 2375 Covington Rd APT 316, Akron, OH, 44313 in Akron is narrow, $110/mo net on $2,534/mo rent after the $1,124/mo debt service, but the property operates at break-even-plus, not a loss. At $250,000 with a 12.17% yield, the long-run equity case via 5% appreciation ($69,070 over five years) and $2,303/yr in principal paydown is where the returns accumulate. Ziffy Mortgage's 2.25 DSCR loan requires no W-2s or U.S. credit. Total projected cumulative return: $105,709.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12.2% | 6.8% |
| Monthly Cash Flow | $110 | $450 |
City averages based on Akron market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,534 |
| Total Monthly Debt Service | $2,325 |
| DSCR Ratio | 1.09x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1970
2,265 sqft lot
$N/A/sqft
$780 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 44313, Akron, OH area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,928 (100%) |
| Owner Occupied HU | 7,211 (55.8%) |
| Renter Occupied HU | 4,866 (37.6%) |
| Vacant Housing Units | 851 ( 6.6%) |
| Median Home Value | $237,427 |
| Average Home Value | $279,680 |
Housing Distribution
Address Breakdown
Residential
13,241
Single Family
10,331
Multi-Family
2,910
Businesses
497
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Condo
Built in 1970
2,265 sqft lot
$N/A/sqft
$780 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 44313, Akron, OH area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,928 (100%) |
| Owner Occupied HU | 7,211 (55.8%) |
| Renter Occupied HU | 4,866 (37.6%) |
| Vacant Housing Units | 851 ( 6.6%) |
| Median Home Value | $237,427 |
| Average Home Value | $279,680 |
Housing Distribution
Address Breakdown
Residential
13,241
Single Family
10,331
Multi-Family
2,910
Businesses
497
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices