2385 Covington Rd APT 402AkronOH44313
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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
Investment Highlights
Rental property for sale in Akron at 2385 Covington Rd APT 402, Akron, OH, 44313 generates $1,416/mo in rent and, after a $871/mo payment, leaves $245/mo in cash flow. Total monthly income is $1,416/mo, and annual cash flow is $2,944/yr on $59,007 invested. Return on cash invested sits at 24.9% in year one, and rental yield is 9.55% on a $178,000 entry. Equity gained on principal adds $1,149/yr, while 5% annual appreciation builds toward $49,178 over five years. Five-year ROI reaches 130.18% and total cumulative return in cash sums $76,813. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,416/mo property income rather than buyer’s personal income.
Condo
Built in 1970
1,833 sqft lot
$N/A/sqft
No 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
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