722 Walnut St · Toledo, OH 43604

$34,900

2 bd · 1.0 ba · 1,030 sqft · SingleFamily public records · 10 Days on market

Built 1887 5,000 sqft lot Est $40k · 13% under

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +13.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.2/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks

Low maintenance well priced home now vacant and ready for new owner. . Make this was shine with a good cleaning and start making ROI immediately. Come check it out!

Key facts

• 5,000 sq ft lot
• Garage
• Built 1887

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $772 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Cap rate 32.8% vs local median 7.6% in Toledo — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#645 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, crime F, commute F.
• Toledo City (urban): math 15% / reading 24% proficiency, ranked #634 of 656 in OH (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Sherman Elementary School (math 2% / reading 8%, grade F, #1,554 of 1,584 statewide, top 100%, 293 students, 0% FRL); Woodward High School (math 2% / reading 22%, grade F, #726 of 781 statewide, top 94%, 672 students, 0% FRL) — zoned schools average 0% FRL vs 72% district-wide (72 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 16 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• At $1,309/mo this rent would consume 76% of the median local household income ($21k/yr) (locally 693% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $1k of equity ($241 loan paydown + $820 appreciation (2.4% local appreciation)).
• Lucas County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.4% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1887 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $34,900

Questions for the listing agent

1. Built in 1887 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 3.75% ✓
• Cap rate: 32.83%
• Cash-on-cash: 94.77%
• DSCR: 5.22
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $40,170
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
626 Walnut St	0.07mi	3/1.0 (+1)	1,088 (+6%)	11mo	$27,000	$25	73
907 Lagrange St	0.19mi	2/1.0	1,144 (+11%)	11mo	$45,000	$39	64
922 N Ontario St	0.13mi	3/2.0 (+1)	1,080 (+5%)	20mo	$46,000	$43	60
1411 N Erie St	0.57mi	3/1.0 (+1)	1,010 (-2%)	10mo	$25,000	$25	57
1313 N Erie St	0.48mi	2/1.0	886 (-14%)	10mo	$39,000	$44	46
1133 Sherman St	0.68mi	3/1.0 (+1)	1,080 (+5%)	11mo	$50,000	$46	46
1523 Elm St	0.52mi	3/1.0 (+1)	1,109 (+8%)	18mo	$68,900	$62	43
914 Moore St	0.73mi	2/1.0	1,096 (+6%)	16mo	$31,900	$29	42
1036 Sherman St	0.62mi	2/1.0	896 (-13%)	13mo	$24,200	$27	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.35% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 98.6%
• Equity multiple: 6.34×
• Total profit: $52,205
• Equity at exit: $14,434

10-year hold

• IRR: 98.6%
• Equity multiple: 13.13×
• Total profit: $118,523
• Equity at exit: $21,311

Cash invested: $9,772 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

ZIP-level market 43604

• Home prices YoY: 2.1%
• Active inventory: 16
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,309 high
• Mortgage (P&I): −$183
• Tax from tax record: −$65 /mo · $776/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $772

Break-even live

Break-even rent $332

Max offer price $34,900

Occupancy floor 36%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
626 Walnut St Toledo, OH	3.0	1.0	1088	$995	$0.91	43d	1	0.08mi
1031 N Michigan St Toledo, OH	3.0	2.0	1488	$1,195	$0.80	23d	1	0.29mi
1119 N Summit St Toledo, OH	2.0	2.0	1500	$1,890	$1.26	43d	1	0.42mi
1119 N Summit St Toledo, OH	2.0	2.0	1226	$1,750	$1.43	23d	1	0.42mi
1119 N Summit St Toledo, OH	1.0–2.0	1.0–2.0	1023	$1,750	$1.71	13d	2	0.42mi
513 Adams St Toledo, OH	1.0–2.0	1.0	1175	$1,424	$1.21	13d	11	0.45mi
426 Beacon St Toledo, OH	1.0–2.0	1.0–1.5	809	$882	$1.09	13d	10	0.48mi
630 Mulberry St Toledo, OH	2.0	1.0	1000	$950	$0.95	23d	1	0.49mi
332 14th St Unit 303 Toledo, OH	3.0	1.5	1040	$1,000	$0.96	43d	1	0.60mi
322 14th St Apt 203 Toledo, OH	3.0	1.5	1065	$1,000	$0.94	13d	1	0.61mi
200 N St Clair St Toledo, OH	2.0	1.0–2.0	835	$2,550	$3.05	13d	15	0.63mi
625 Riverside Dr Toledo, OH	1.0–2.0	1.0–2.0	860	$1,767	$2.05	13d	37	0.64mi
123 Water St Unit 307 Toledo, OH	1.0	1.0	914	$1,445	$1.58	43d	1	0.73mi
123 Water St Unit 406 Toledo, OH	1.0	1.0	1207	$1,675	$1.39	43d	1	0.73mi
123 Water St Unit 411 Toledo, OH	1.0	1.0	747	$1,380	$1.85	23d	1	0.73mi
624 Bush St Toledo, OH	1.0	1.0	1193	$699	$0.59	43d	1	0.73mi
2131 Franklin Ave Toledo, OH	2.0	2.0	1255	$900	$0.72	43d	1	0.78mi
23 N Summit St Toledo, OH	1.0	1.0	838	$1,475	$1.76	13d	2	0.80mi
1 S Erie St Toledo, OH	1.0	1.0	846	$1,410	$1.67	13d	1	0.87mi
15 S Ontario St Apt 409 Toledo, OH	1.0	1.0	984	$1,695	$1.72	43d	1	0.89mi
1337 Moore St Toledo, OH	3.0	1.5	1194	$995	$0.83	21d	1	0.91mi
34 S Erie St Unit 209 Toledo, OH	1.0	1.0	930	$1,375	$1.48	23d	1	0.93mi
34 S Erie St Unit 202 Toledo, OH	1.0	1.0	894	$1,275	$1.43	23d	1	0.93mi
34 S Erie St Unit 409 Toledo, OH	1.0	1.0	930	$1,375	$1.48	43d	1	0.93mi
34 S Erie St Apt 602 Toledo, OH	1.0	1.0	894	$1,315	$1.47	43d	1	0.93mi
34 S Erie St Unit 611 Toledo, OH	1.0	1.0	990	$1,300	$1.31	43d	1	0.93mi
34 S Erie St Unit 107 Toledo, OH	1.0	1.0	1103	$1,300	$1.18	23d	1	0.93mi
470 2nd St Unit 1 Toledo, OH	2.0	1.0	950	$799	$0.84	43d	1	0.98mi
225 Palmer St Toledo, OH	2.0	1.0	924	$895	$0.97	43d	1	1.00mi
2621 Chestnut St Toledo, OH	3.0	1.0	1444	$1,250	$0.87	43d	1	1.01mi
1305 Mott Ave Toledo, OH	3.0	1.0	1080	$1,000	$0.93	43d	1	1.04mi
128 Carbon St Toledo, OH	3.0	1.0	1113	$1,200	$1.08	23d	1	1.05mi
1306 Mott Ave Toledo, OH	3.0	1.5	1282	$1,149	$0.90	43d	1	1.06mi
414 Platt St Unit ST-1 Toledo, OH	1.0	1.0	800	$800	$1.00	43d	1	1.09mi
414 Platt St Unit ST-3 Toledo, OH	3.0	1.0	1500	$1,150	$0.77	23d	1	1.09mi
420 Platt St Toledo, OH	2.0	1.0	1499	$685	$0.46	21d	1	1.10mi
221 Licking St Unit 2 Toledo, OH	3.0	1.0	1048	$1,099	$1.05	23d	1	1.13mi
451 5th St Apt 1 Toledo, OH	1.0	1.0	850	$650	$0.76	43d	1	1.13mi
142 23rd St Toledo, OH	1.0	1.0–1.5	508	$1,395	$2.75	43d	1	1.13mi
409 W Bancroft St Toledo, OH	2.0	1.0	730	$880	$1.21	43d	1	1.14mi

Listing history 2 events

1. 2026-04-22
   status Pending
2. 2026-04-12
   listed $34,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $776 · $65/mo
• Projected year-2 tax: $776 · $65/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,705
• − Mortgage interest: −$1,955
• − Property taxes: −$776
• − Insurance: −$174
• − Repairs & maintenance: −$1,256
• − Management: −$1,256
• − Depreciation: −$1,015
• Taxable income: $9,272
• Est. tax owed @ 24.0%: −$2,225
• After-tax cash flow: $7,035/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Toledo City
• NCES district ID: 3904490
• Math proficiency: 15% ▼ -16.00%
• Reading proficiency: 24% ▼ -13.00%
• Median HH income: $32,137
• Composite: 15.76/100
• National rank: #9276
• State rank: #634 of 656 in OH

Livability — Toledo

• Score: 66/100
• State rank: #645
• US rank: #11442

Category grades

Amenities C- Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Toledo, OH
• County: Lucas County · 380,724 people
• City population: 280,811
• Metro: Toledo, OH
• Population (ZIP): 9,594
• Household income: $20,734
• Rent vs Own: 80.5% rent · 19.5% own
• Severe rent burden: 693.0

Population outlook (Lucas County) Hauer SSP2

• Today (2025): 420,751 people
• By 2030: 410,187 · -2.5%
• By 2040: 384,019 · -8.7%
• By 2050: 355,125 · -15.6%
• By 2075: 291,683 · -30.7%
• By 2100: 233,670 · -44.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 51% White 34% Two or more races 9% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 4% · Canada, South Korea, China
• Languages at home: 95% English-only · Spanish 3% Arabic 1%

Political lean MEDSL · Lucas

• 2024 margin: D (+12.6) · D 55.8% · R 43.2%
• 2008→2024 swing: -18.9pp toward R · 2008: 31.4pp · 2024: 12.6pp
• All cycles: 2024: D+12.6 2020: D+16.8 2016: D+17.4 2012: D+30.4 2008: D+31.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.35%
• Current HPI: 111.6154
• Rent YoY: —
• Metro: Toledo, OH
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Price history

2 events — show timeline

• 2026-04-22 Pending — NORIS
• 2026-04-12 Listed $34,900 NORIS

Property tax history

+15.1%/yr

Latest (2025): $776 · +2.1% YoY. Source: county tax records.