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809 Kenmore Blvd
809 Kenmore Blvd
Akron, Ohio 44314
About
Property originally listed for sale on the marketplace by Derek Walkush with Roofstock Realty, 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 at $195,000.
The property received a loan of $15,245 to pay for repairs. The current loan balance is $13,455.82. You can view the updated loan balance spreadsheet including all of the loan payments, payback period, and more by clicking here.
The Operating Reserve balance is -$37,074, which includes unpaid bills. The Operating Reserve balance at half full is $6,650 and is $13,300 at full.
5-Unit Apartment Building located in Akron, Ohio.
Details
- Each apartment has 1 bedroom, 1 bathroom, and around 950 sq ft
- Units 1, 3, and 5 were renovated with fresh paint, new carpets, and new flooring in January, 2022
- All tenants are Section 8 and receive rental assistance from the government
- Dedicated parking behind the building
- The maintenance reserve has been increased from 5% to 6% to account for potential repairs due to Section 8 compliance inspections
- All Utilities are paid by owners
- Water & Sewer - around $170/mo
- Gas - around $130/month. Gas during Winter months - around $300/month
- Electric - around $60 per month
- View Operating Reserve balance chart
- View property transaction data
Property Management and Insurance
- Managed by HomeRiver Group Institutional
- Insurance Policy from Shelter Mutual Insurance Company
Occupancy Status
- Unit 1 (Delinquent)
- The tenant owes an unpaid rent balance of $4,076 & a total balance of $5,911.
- The PM confirmed the eviction was filed on 1/24 & a hearing date has not yet been received.
- 1 year lease (02/02/2022 - 01/02/2023)
- $772/month
- Tenant receives rental assistance from the government
- Lease Agreement
- Unit 2 (Delinquent)
- The tenant owes an unpaid rent balance of $2,626.10 & a total balance of $3,066.10.
- The PM confirmed a new 30-day notice to vacate was issued to the tenant on 2/5.
- The PM received an email from the tenant in Unit 2 advising that they vacated on 2/25. The PM will follow up on whether the tenant has vacated or not.
- Month-to-month lease starting on 05/14/2019
- $775/month
- Tenant receives rental assistance from the government. Housing Assistance Program portion is $614/month and tenant portion is $121/month
- Lease Agreement
- Unit 3
- Vacant
- Unit 4
- Vacant
- Unit 5 (Delinquent)
- The tenant owes an unpaid rent balance of $3,730 & a total balance of $5,425.
- The PM confirmed the tenant's phone number is out of service.
- The PM confirmed the eviction was filed on 1/17 & a hearing date has not yet been received.
- An occupancy check was completed on 2/20 & the tenant is still occupying the unit.
- Month-to-month lease starting on 06/15/2021
- $650/month
- Tenant receives rental assistance from the government
- Lease Agreement
Location Data
Due Diligence Documents
- HouseCanary Property Valuation Report (HouseCanary valuations are less accurate for 2+ Unit properties, like this property)
- Inspection Reports
- Inspection Report Repairs
- Purchase Agreement
- Operating Agreement
- Closing Statement
- Property Deed
- View All 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 City inspector made a site visit on Monday, 7/15.
They advised that there were no visitors at property and the tenants were in the process of moving & loading their U-haul.
The property was boarded up once the PM confirmed that the building was completely vacant.
The PM completed a property inspection on Friday, 7/19.
They confirmed that the property is still boarded up and secure.
These updates were shared with the Listing Agent and the Buyer's Agent.
The Listing Agent advised closing will happen as soon as the Lender allows the Buyer to close.
At the moment, closing is scheduled for 7/26.
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
$0
Monthly Rent
$142
Monthly Expenses
-$142
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
809 Kenmore Blvd
Akron, Ohio 44314
About
Property originally listed for sale on the marketplace by Derek Walkush with Roofstock Realty, 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 at $195,000.
The property received a loan of $15,245 to pay for repairs. The current loan balance is $13,455.82. You can view the updated loan balance spreadsheet including all of the loan payments, payback period, and more by clicking here.
The Operating Reserve balance is -$37,074, which includes unpaid bills. The Operating Reserve balance at half full is $6,650 and is $13,300 at full.
5-Unit Apartment Building located in Akron, Ohio.
Details
- Each apartment has 1 bedroom, 1 bathroom, and around 950 sq ft
- Units 1, 3, and 5 were renovated with fresh paint, new carpets, and new flooring in January, 2022
- All tenants are Section 8 and receive rental assistance from the government
- Dedicated parking behind the building
- The maintenance reserve has been increased from 5% to 6% to account for potential repairs due to Section 8 compliance inspections
- All Utilities are paid by owners
- Water & Sewer - around $170/mo
- Gas - around $130/month. Gas during Winter months - around $300/month
- Electric - around $60 per month
- View Operating Reserve balance chart
- View property transaction data
Property Management and Insurance
- Managed by HomeRiver Group Institutional
- Insurance Policy from Shelter Mutual Insurance Company
Occupancy Status
- Unit 1 (Delinquent)
- The tenant owes an unpaid rent balance of $4,076 & a total balance of $5,911.
- The PM confirmed the eviction was filed on 1/24 & a hearing date has not yet been received.
- 1 year lease (02/02/2022 - 01/02/2023)
- $772/month
- Tenant receives rental assistance from the government
- Lease Agreement
- Unit 2 (Delinquent)
- The tenant owes an unpaid rent balance of $2,626.10 & a total balance of $3,066.10.
- The PM confirmed a new 30-day notice to vacate was issued to the tenant on 2/5.
- The PM received an email from the tenant in Unit 2 advising that they vacated on 2/25. The PM will follow up on whether the tenant has vacated or not.
- Month-to-month lease starting on 05/14/2019
- $775/month
- Tenant receives rental assistance from the government. Housing Assistance Program portion is $614/month and tenant portion is $121/month
- Lease Agreement
- Unit 3
- Vacant
- Unit 4
- Vacant
- Unit 5 (Delinquent)
- The tenant owes an unpaid rent balance of $3,730 & a total balance of $5,425.
- The PM confirmed the tenant's phone number is out of service.
- The PM confirmed the eviction was filed on 1/17 & a hearing date has not yet been received.
- An occupancy check was completed on 2/20 & the tenant is still occupying the unit.
- Month-to-month lease starting on 06/15/2021
- $650/month
- Tenant receives rental assistance from the government
- Lease Agreement
Location Data
Due Diligence Documents
- HouseCanary Property Valuation Report (HouseCanary valuations are less accurate for 2+ Unit properties, like this property)
- Inspection Reports
- Inspection Report Repairs
- Purchase Agreement
- Operating Agreement
- Closing Statement
- Property Deed
- View All 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 City inspector made a site visit on Monday, 7/15.
They advised that there were no visitors at property and the tenants were in the process of moving & loading their U-haul.
The property was boarded up once the PM confirmed that the building was completely vacant.
The PM completed a property inspection on Friday, 7/19.
They confirmed that the property is still boarded up and secure.
These updates were shared with the Listing Agent and the Buyer's Agent.
The Listing Agent advised closing will happen as soon as the Lender allows the Buyer to close.
At the moment, closing is scheduled for 7/26.
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
$0
Monthly Rent
$142
Monthly Expenses
-$142
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.