← 428 Cross St, Akron, OH 44311 · All properties

UPDATES.md

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2026-07-14 - Property Update (07/14/2026): Hi everyone, This month's update includes the current reviewed financial summary from the guarded monthly workflow. Financial summary from FINANCIALS.md: Financial data is shown as of 2026-06. ## Cash Flow Snapshot (2026-06) Revenue: $1,983.91 Operating Expenses: -$5,287.65 NOI: -$3,303.74 Net Operating Cashflow: -$3,888.45 ## Monthly Cash Position (2026-06) Revenue and operating expenses are scoped to the reporting month. ECO Operating Cash is the c

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## 2026-07-14

- Property Update (07/14/2026):
Hi everyone,

This month's update includes the current reviewed financial summary from the guarded monthly workflow.

Financial summary from FINANCIALS.md:

Financial data is shown as of 2026-06.

## Cash Flow Snapshot (2026-06)

Revenue: $1,983.91
Operating Expenses: -$5,287.65
NOI: -$3,303.74
Net Operating Cashflow: -$3,888.45

## Monthly Cash Position (2026-06)

Revenue and operating expenses are scoped to the reporting month. ECO Operating Cash is the current complete DAO-attributed total of Column E across every row in the property-split ECO Systems GL, including accruals.

Lofty Operating Cash: -$4,148.43 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$11,900.18 (ECO Systems General Ledger Column E (183 rows))

# Property Updates

## 2026-07-12

- Property Update (07/12/2026):
Hi everyone,

This month's update includes the current reviewed financial summary from the guarded monthly workflow.

Financial summary from FINANCIALS.md:

## Cash Flow Snapshot (2026-06)

| Metric | Amount |
|---|---:|
| Revenue | $0.00 |
| Operating Expenses | $0.00 |
| NOI | $0.00 |
| Net Operating Cashflow | $0.00 |

## Monthly Cash Position (2026-06)

Amounts are shown as of 2026-06. ECO Operating Cash is the complete DAO-attributed ECO Systems GL Column E balance through the as-of month, including accruals; it is not limited to ECO Systems LLC bank cash.

| Metric | Amount | Source |
|---|---:|---|
| Lofty Operating Cash | -$4,148.43 | Lofty `curr_maintenance_reserve` |
| ECO Operating Cash | -$13,053.73 | ECO Systems General Ledger Column E (179 rows) |

## Source Evidence

| Field | Value |
|---|---|
| Source month | 2026-06 |
| ECO GL source | `Public/07 - P&L & Owner Statements/ECO Systems General Ledger - 428 Cross St..csv` |
| Source-month dated rows | 0 |
| Revenue bucket count | 0 |
| Operating expense bucket count | 0 |
| ECO GL Column E rows | 179 |
| ECO GL Column E sum | -$13,053.73 |

Financial summary:
- Lofty-held current maintenance reserve: -$4,148.43
- ECO GL Column E sum: -$13,053.73 (179 rows)

## 2026-07-02

- Property Update (07/02/2026):
This month's update is limited to verified cash-position data from Lofty and ECO records. No tenant ledger rows are included.

Financial summary:
- Lofty-held current maintenance reserve: -$4,568.38
- ECO GL Column E sum: -$8,415.06 (177 rows)

## 2026-07-02

- Property Update (07/02/2026):
Hi everyone,

This month's update is limited to verified cash-position data from Lofty and ECO records. No tenant ledger rows are included.

Financial summary:
- Lofty-held current maintenance reserve: -$4,568.38
- ECO GL Column E sum: -$8,415.06 (177 rows)

## 2026-06-27

- Property Update (06/27/2026):
Hi everyone,

Quick update on **428 Cross St, Akron, OH 44311**:

- We are issuing a proactive owner communication to keep update cadence consistent.
- Property operations and file review are in progress.
- A fuller operational/financial update will follow after manager file reconciliation.

**What to expect next**
- Current operations snapshot
- Any material leasing/maintenance/compliance items
- Financial/reconciliation notes (if applicable)
- Next expected update timing

Financial summary:
- Lofty-held current maintenance reserve: -$4,568.38
- ECO GL Column E sum: -$8,415.06 (177 rows)

## 2026-06-27

- Property Update (06/27/2026):
Financial summary:
- Lofty-held current maintenance reserve: -$4,568.38
- ECO GL Column E sum: -$8,415.06 (177 rows)
- **Property Update (2026-04-08):**

    April 2026 Property Update:

| Field | Value |
|-------|-------|
| Yhome Net Due TO DAO | $9,383.59 |
| Lofty Operating Cash | $-2,188.73 |
| ECO Operating Cash | $-3,073.75 |
| Outstanding Liabilities (Unpaid Bills) | $0.00 |
| DAO Net Cash (Capital Call) | $-3,373.28 |
| Estimated Owners' Equity | $245,000.00 |
| DAO Estimated NAV Per Token | $49.49 |
| DAO Tokens | 4882 |
| Current PM | ECO |

    Yhome transition reconciliation as of April 6, 2026.

    Property now under ECO Systems management. Transition from Yhome complete.

## 2025-11-12

- Property Update (11/12/2025):
- Unit 3 listing is now live @ $849/mont: https://www.hemlane.com/listings/428-cross-street-akron-oh-44311-unit-3/bc56d639-5a3a-48cf-b06a-baf568826e36
    - Note that no appliances are provided. Tenants may furnish their own, or rent a stove and fridge for an additional $50/month.
    - Unit 1 former tenant has been evicted and the unit is in the process of being turned over.
    - Unit 2 tenant is current with no concerns.

## 2025-09-23

- Property Update (09/23/2025):
- Governance Results for 428 Cross St:
    - The Governance Voting results are back for the owner-proposed vote.
    - The winning vote is:
    - Raise funding of $6,000.00 from the ULD - Levy all funding from the Universal Lending DAO, which currently has loan terms of 13.5% APR w/4-Year Balloon.
    - This voting option was declared the winner in Round 1 with 1,633 votes.
    - [View on-chain](https://allo.info/application/3229841642)

## 2025-09-19

- Property Update (09/19/2025):
- Owner-Proposed Governance Vote for 428 Cross St:
- An owner with the following [wallet address](https://allo.info/account/OHS4Z4R2YOE5435ERSGLGBA2R7IWONWLWHLSMAPWVVIUIJ4J4TGQJ5RUKI) is proposing a governance vote.
- This owner holds 48 tokens in this property.
- The owner's reasoning is below, word-for-word:
- *Because this is an owner proposed vote, Lofty cannot change the content. It’s up to owners to verify the accuracy of the claims below.
- This is a new governance proposal for 428 Cross, Akron OH 44311 to fund the recent construction quote to renovate unit #3. There was a previous vote that both options passed, but without supermajority, so nothing happened and this is still outstanding. We will need this unit turned so the property can generate positive cashflow, and build up a sustainable OR while paying down the funding call (as applicable). After the renovations are completed, the estimated monthly rent for unit 3 will be at least $850/mo.
- This is a good property that needs a bit of help since the property’s original operating reserve was stolen from the DAO.
- The itemized estimate from XGM CONSTRUCTION LLC for $5,460.00 and have uploaded it to the work order for your reference (please note that taxes and fees may not be included). The breakdown is as follows:
- House Cleaning $400.00
- Interior Painting $1,800.00
- Trim Installation $200.00
- Vanity Installation $700.00
- Tub Drain Repair/Replacement $75.00
- Light Fixture & Ceiling Fan Replacement $575.00
- New Closet Bi-Fold Doors Installation $300.00
- Electrical Outlet Installation $85.00
- Door Installation $125.00
- Carpet Installation $1,200.00
- Total $5,460.00
- Per the PM - There is an additional $540 required for an oven replacement on this property, so the total funding required is $6,000.00
- There are several options available to fund the upcoming renovation project:
- Raise funding of $6,000.00 from the ULD - Levy all funding from the Universal Lending DAO, which currently has loan terms of 13.5% APR w/4-Year Balloon. There is no minimum monthly payment for this lending facility, and DAO must pay off the loan within a 4-year time period. It is encouraged to pay the majority of the loan off quickly. Estimated timeline for this option -> right away
- Raise a capital call of $6,000.00 through dilutive equity at a token price of $20, approx. where the market is at currently (This would increase token count by approx. 300 and would need to be paid in-full by an outside investor(s).) Token count would increase from 4,882 to 5,182. Estimated timeline for this option -> dependent on how quickly new shares are bought. Current 4 week volume is $439 so this would likely take maybe a year at current pace
- Do nothing, wait for small claims case against Cal, estimated timeline for this option per PM. -> between forever and our death
- I am voting option 1 and recommend everyone to do the same
- The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Tuesday, September 23rd, once the voting period ends.

## 2025-09-19

- Property Update (09/19/2025):
- Owner-Proposed Governance Vote for 428 Cross St:
    - An owner with the following [wallet address](https://allo.info/account/OHS4Z4R2YOE5435ERSGLGBA2R7IWONWLWHLSMAPWVVIUIJ4J4TGQJ5RUKI) is proposing a governance vote.
    - This owner holds 48 tokens in this property.
    - The owner's reasoning is below, word-for-word:
    - *Because this is an owner proposed vote, Lofty cannot change the content. It's up to owners to verify the accuracy of the claims below.
    - This is a new governance proposal for 428 Cross, Akron OH 44311 to fund the recent construction quote to renovate unit #3. There was a previous vote that both options passed, but without supermajority, so nothing happened and this is still outstanding. We will need this unit turned so the property can generate positive cashflow, and build up a sustainable OR while paying down the funding call (as applicable). After the renovations are completed, the estimated monthly rent for unit 3 will be at least $850/mo.
    - This is a good property that needs a bit of help since the property's original operating reserve was stolen from the DAO.
    - The itemized estimate from XGM CONSTRUCTION LLC for $5,460.00 and have uploaded it to the work order for your reference (please note that taxes and fees may not be included). The breakdown is as follows:
    - House Cleaning $400.00
    - Interior Painting $1,800.00
    - Trim Installation $200.00
    - Vanity Installation $700.00
    - Tub Drain Repair/Replacement $75.00
    - Light Fixture & Ceiling Fan Replacement $575.00
    - New Closet Bi-Fold Doors Installation $300.00
    - Electrical Outlet Installation $85.00
    - Door Installation $125.00
    - Carpet Installation $1,200.00
    - Total $5,460.00
    - Per the PM - There is an additional $540 required for an oven replacement on this property, so the total funding required is $6,000.00
    - There are several options available to fund the upcoming renovation project:
    - Raise funding of $6,000.00 from the ULD - Levy all funding from the Universal Lending DAO, which currently has loan terms of 13.5% APR w/4-Year Balloon. There is no minimum monthly payment for this lending facility, and DAO must pay off the loan within a 4-year time period. It is encouraged to pay the majority of the loan off quickly. Estimated timeline for this option -> right away
    - Raise a capital call of $6,000.00 through dilutive equity at a token price of $20, approx. where the market is at currently (This would increase token count by approx. 300 and would need to be paid in-full by an outside investor(s).) Token count would increase from 4,882 to 5,182. Estimated timeline for this option -> dependent on how quickly new shares are bought. Current 4 week volume is $439 so this would likely take maybe a year at current pace
    - Do nothing, wait for small claims case against Cal, estimated timeline for this option per PM. -> between forever and our death
    - I am voting option 1 and recommend everyone to do the same
    - The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Tuesday, September 23rd, once the voting period ends.

## 2025-09-09

- Property Update (09/09/2025):
- Governance Results for 428 Cross St:
    - The Governance Voting results are back for the two owner-proposed votes.
    - The first leading vote is:
    - 2. Reject lending; demand immediate payment from Calixte Duffaut payable directly to the DAO. Authorize PM to file via small claims court if necessary.
    - This voting option received 1,059 / 1985 token votes which is equal to 53% of the votes.
    - This vote will not pass because it did not reach a Supermajority of 60%+.
    - [View on