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$199,900

For Sale - Active
1040 Jean Ave, Akron, OH 44310
3 Beds
1 Bath
0 Square Feet
0.00 Acres Lot
Built in 1933
For Sale - Active
Units n/a
Checked: 19 hours ago
Updated: Apr 20, 2025 at 01:42PM

Investment Summary


Monthly Cash Flow
-$124
Cap Rate
5.5%
Cash-on-Cash Return
-3.2%
Debt Coverage Ratio
0.88
Internal Rate of Return (5 years)
0.9%

Property Description


0.00 Acres Lot
Built in 1933
For Sale - Active
Units n/a

Welcome to this beautifully remodeled 3-bedroom ranch nestled in the heart of Akron's North Hill neighborhood. This home blends modern updates with timeless charm, offering a warm and inviting atmosphere throughout. Step inside to discover an open-concept living area, featuring new LVP floors and an abundance of natural light. The spacious kitchen is a chef’s dream, with sleek countertops, stainless steel appliances, gas range with smart hood ventilation, and ample cabinet space—perfect for cooking and entertaining. The three bedrooms provide comfort and privacy, while the remodeled bathroom boasts contemporary finishes. The additional bonus is the first-floor laundry room located in the main hall near the bedrooms. Outside, you'll find a tranquil oasis with a charming gazebo, ideal for relaxing or hosting gatherings. The private backyard also features a luxurious hot tub, offering the perfect spot to unwind after a long day. Updates include a new hot water tank in 2024, a new furnace 2023, and a two-car garage built in 2016. The roof is approximately 10 years old- 3-dimensional shingles with gutter guards. Located in the desirable North Hill area, this home is just minutes from parks, shopping, dining, and highways. Don’t miss the opportunity to make this meticulously updated ranch your new home!

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Location


Property Details


Parking

  • Description: Driveway, Detached, Garage
  • Details: Driveway, Detached, Garage
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 5
  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Siding (Alum/Vinyl)
  • Roof Material: Asphalt, Fiberglass

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 6735457
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Ranch
  • Year Built: 1933

Tax Information

  • Annual Tax: $2,176

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas, Forced Air
  • Cooling: None

Location

  • County: Summit

Listing Details


Listed by:
Melissa T Smith
Crossroads Management Realty
(330) 573-4871

Source:
MLS Now
MLS#: 5086946
MLS Now

Investment Summary


Monthly Cash Flow
-$124
Cap Rate
5.5%
Cash-on-Cash Return
-3.2%
Debt Coverage Ratio
0.88
Internal Rate of Return (5 years)
0.9%

Purchase Details

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Purchase price:
$199,900
Amount financed:
-$159,920
Down payment:
$39,980
Closing costs:
$5,997
Rehab costs:
$0
Initial cash invested:
$45,977
Square feet:
0
Cost per square foot:
n/a
Monthly rent per square foot:
n/a

Financing Details

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Loan amount:
$159,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$1,047
Property tax:
$181
Insurance:
$112
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,340

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,600 $19,200
Vacancy loss: (6%)
6% -$96 -$1,152
Operating income:
$1,504 $18,048

Operating Expenses


% Rent Monthly Yearly
Property taxes: (11%)
11%-$181-$2,176
Insurance: (7%)
7%-$112-$1,344
Property management: (8%)
8%-$128-$1,536
Repairs & maintenance: (5%)
5%-$80-$960
Capital expenditures: (5%)
5%-$80-$960
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (36%)
36%-$581-$6,976

Cash Flow


Monthly Yearly
Net operating income:
$923 $11,076
Mortgage payments:
-$1,047 -$12,564
Cash flow:
$124 $1,488