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1174 Tampa Ave
1174 Tampa Ave
Akron, Ohio 44314
About
Property originally listed for sale on the marketplace by New Beginnings Homes and Management, LLC.
Click here to learn more about how third parties sell their properties on the Lofty Marketplace.
Owners voted to list the property for sale. See the "Property Updates" section below for more details.
The Operating Reserve balance (-$7,821) is below half full.
Once the property is rented out again, owners voted to apply 100% of cash flow to replenish the reserve until it is half full ($2,500), and then apply 50% of cash flow until the reserve is full ($5,000).
Based on the monthly cash flow ($541), it will take ~19.1 months for the reserve to be half full and ~9.2 additional months to be full.
The Operating Reserve balance is part of the property value. As a result, the property will increase in value as the Operating Reserve is replenished.
Single Family Home located in Akron, Ohio.
Details
- Recently renovated
- Quiet neighborhood suitable for investment and owner-occupants
- Located near restaurants, parks, and freeway access
- Hot water tank and furnace were both replaced in 2020
- View Operating Reserve balance chart
- View property transaction data
Property Management and Insurance
- Managed by HomeRiver Group Institutional
- Insurance Policy through Obie Insurance
Occupancy Status
- 1 year lease (03/15/2024 - 03/14/2025)
- $1,065/month
- The tenant has elected to purchase a surety bond in lieu of a security deposit in the amount of $2,130
- The tenant will pay a prorated rent amount of $584 for March, before their move in date
- Base rent for April will be $532.50 to reflect the leasing special of 1/2 off the first month's rent
- The PM's leasing fee is $532.50 and will be deducted from the rent within 1-3 months
- The tenant will be responsible for all utilities
Location Data
Due Diligence Documents
Property Management
Property Manager
Property manager details coming soon.
Due Diligence Documents
About this offering
The Market
Akron, Ohio
Akron, Ohio offers a mix of neighborhood livability, local employment centers, and day-to-day amenities that support long-term housing demand. The area benefits from access to major commuter routes, schools, and retail services, while continuing to attract residents looking for affordability and convenience. As population and job activity remain steady across the broader region, rental demand is generally supported by both local households and in-migration trends.
Property Updates
The title company advised that they finally received the Closing Disclosure for this contract.
The closing date has been tentatively set for 7/23, pending the Buyer signing the docs.
Once the closing is complete, owners will receive a follow up email with instructions on how to receive their proceeds.
Investor Reviews
N/A/5(0 reviews)No reviews yet
Investors haven't shared their experience with this property yet.
Frequently Asked Questions
Have questions?
Have other questions? Learn how Lofty works
Projected Returns
Investing with Lofty can generate returns in two ways:
1) Annual cash flow from rental income.
2) Annual appreciation from long-term property value changes.
Monthly Cash Flow
$1,065
Monthly Rent
$948
Monthly Expenses
$117
Net Monthly Cash Flow
Annual Appreciation
Based on the Zillow Value Home Index (ZHVI) Single Family Homes Time Series, single family homes appreciated an average of 11% per year over the last 20 years (March 31, 2003 - March 31, 2023).
This figure reflects a national benchmark for single family homes in the 35th to 65th home-price percentile range and may not represent this specific property's zip code. Real-world returns can also vary based on investment costs, hold period, and leverage.
Use the returns calculator below to explore how different assumptions can impact your hypothetical investment outcome.
Projected Returns Calculator
Adjust the assumptions below to model how this property could grow over 7 years.
Annualized Return
+3.6%
per year over 7 years
7-Year Projection
$1,286
+$286 vs. initial $1,000
This calculator is for illustrative purposes only and displays a range of hypothetical investment outcomes based on the inputs you provide. Actual investment outcomes depend on many factors and cannot be determined before the investment period ends. Historical performance is not indicative of future results.
The calculations assume a 7-year hold period and an average annual net operating income increase of 3%. The 10- and 20-year averages are based on data from the ZHVI Single Family Homes Time Series and reflect averages for single-family homes in the 35th to 65th percentile by home price.
About this offering
Returns
Monthly Operating Statement
Order book
Trading has not opened yet
The order book appears once this property reaches the secondary market and investors can place buy and sell orders.
Share price
$49.61
1174 Tampa Ave
Akron, Ohio 44314
About
Property originally listed for sale on the marketplace by New Beginnings Homes and Management, LLC.
Click here to learn more about how third parties sell their properties on the Lofty Marketplace.
Owners voted to list the property for sale. See the "Property Updates" section below for more details.
The Operating Reserve balance (-$7,821) is below half full.
Once the property is rented out again, owners voted to apply 100% of cash flow to replenish the reserve until it is half full ($2,500), and then apply 50% of cash flow until the reserve is full ($5,000).
Based on the monthly cash flow ($541), it will take ~19.1 months for the reserve to be half full and ~9.2 additional months to be full.
The Operating Reserve balance is part of the property value. As a result, the property will increase in value as the Operating Reserve is replenished.
Single Family Home located in Akron, Ohio.
Details
- Recently renovated
- Quiet neighborhood suitable for investment and owner-occupants
- Located near restaurants, parks, and freeway access
- Hot water tank and furnace were both replaced in 2020
- View Operating Reserve balance chart
- View property transaction data
Property Management and Insurance
- Managed by HomeRiver Group Institutional
- Insurance Policy through Obie Insurance
Occupancy Status
- 1 year lease (03/15/2024 - 03/14/2025)
- $1,065/month
- The tenant has elected to purchase a surety bond in lieu of a security deposit in the amount of $2,130
- The tenant will pay a prorated rent amount of $584 for March, before their move in date
- Base rent for April will be $532.50 to reflect the leasing special of 1/2 off the first month's rent
- The PM's leasing fee is $532.50 and will be deducted from the rent within 1-3 months
- The tenant will be responsible for all utilities
Location Data
Due Diligence Documents
Property Management
Property Manager
Property manager details coming soon.
Due Diligence Documents
Offering Details
The Market
Akron, Ohio
Akron, Ohio offers a mix of neighborhood livability, local employment centers, and day-to-day amenities that support long-term housing demand. The area benefits from access to major commuter routes, schools, and retail services, while continuing to attract residents looking for affordability and convenience. As population and job activity remain steady across the broader region, rental demand is generally supported by both local households and in-migration trends.
Property Updates
The title company advised that they finally received the Closing Disclosure for this contract.
The closing date has been tentatively set for 7/23, pending the Buyer signing the docs.
Once the closing is complete, owners will receive a follow up email with instructions on how to receive their proceeds.
Investor Reviews
N/A/5(0 reviews)No reviews yet
Investors haven't shared their experience with this property yet.
Frequently Asked Questions
Need Help?
Have other questions? Learn how Lofty works
Projected Returns
Investing with Lofty can generate returns in two ways:
1) Annual cash flow from rental income.
2) Annual appreciation from long-term property value changes.
Monthly Cash Flow
$1,065
Monthly Rent
$948
Monthly Expenses
$117
Net Monthly Cash Flow
Annual Appreciation
Based on the Zillow Value Home Index (ZHVI) Single Family Homes Time Series, single family homes appreciated an average of 11% per year over the last 20 years (March 31, 2003 - March 31, 2023).
This figure reflects a national benchmark for single family homes in the 35th to 65th home-price percentile range and may not represent this specific property's zip code. Real-world returns can also vary based on investment costs, hold period, and leverage.
Use the returns calculator below to explore how different assumptions can impact your hypothetical investment outcome.
Projected Returns Calculator
Adjust the assumptions below to model how this property could grow over 7 years.
Annualized Return
+3.6%
per year over 7 years
7-Year Projection
$1,286
+$286 vs. initial $1,000
This calculator is for illustrative purposes only and displays a range of hypothetical investment outcomes based on the inputs you provide. Actual investment outcomes depend on many factors and cannot be determined before the investment period ends. Historical performance is not indicative of future results.
The calculations assume a 7-year hold period and an average annual net operating income increase of 3%. The 10- and 20-year averages are based on data from the ZHVI Single Family Homes Time Series and reflect averages for single-family homes in the 35th to 65th percentile by home price.