2657 W Alexis Rd · Toledo, OH 43613

$174,900

3 bd · 1.0 ba · 1,231 sqft · SingleFamily public records · 13 Days on market

Built 1927 0.43 ac lot $142/sqft · 16% below area Est $254k · 31% under

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Why this score? — see what drove the D- 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).

• ARV discount +15.0/15.0
• Cash flow +7.3/30.0
• Schools +3.5/10.0
• Rent growth +3.3/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Four bedrooms in Washington local for under $70K! Beautiful refinished hardwood floors through. Full basement with high ceilings waiting to be finished. Master bedroom on main level, huge eat in kitchen with newer appliances, flooring and countertops. Yard is massive, this one won't last at this price!

Key facts

• 0.43 acre lot
• 4 garage spots
• Built 1927

Property features AI

Exterior

• Parking: Detached garage; Driveway; Approximately 4.5 garage spaces
• Utilities: Public water; Public sewer; Other utilities
• Home design: Residential single-family home; Two levels (2 stories); No attached units or common walls
• Construction: Frame construction with vinyl siding; Block foundation
• Exterior features: Shingle roof

Interior

• Kitchen: Kitchen on the main level (11 x 10); Breakfast room on the main level (11 x 10)
• Bedrooms: Bedroom 2 on the main level (12 x 12); Bedroom 3 on the upper level (16 x 12); Bedroom 4 on the upper level (16 x 12)
• Flooring: Other flooring
• Bathrooms: One full bathroom
• Heating & cooling: Central heating (forced air, natural gas); Central air conditioning
• Interior features: Eight total rooms; Basement present; Other interior features
• Laundry & utility: Laundry in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $-231 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $134k (23.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (30.3% below list).
• Recommended offer: $122k (30.3% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 7.6% in Toledo — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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.
• Washington Local (urban): math 37% / reading 47% proficiency, ranked #528 of 656 in OH (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Silver Creek Elementary School (math 32% / reading 42%, grade F, #1,087 of 1,584 statewide, top 70%, 653 students, 0% FRL); Whitmer High School (math 38% / reading 48%, grade F, #494 of 781 statewide, top 63%, 2,247 students, 42% FRL) — zoned schools average 21% FRL vs 48% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.3%/yr); 111 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Lucas County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $57k; list at $175k implies a 207% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,829 (30.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.70% ✗
• Cap rate: 4.71%
• Cash-on-cash: -5.65%
• DSCR: 0.75
• GRM: 12.0

CMA / ARV

• ARV (median comp): $254,283
• List price: $174,900
• Delta: -29.25%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5810 Everwood Rd	0.14mi	3/1.5	1,276 (+4%)	2mo	$204,000	$160	84
5845 Georgedale Rd	0.47mi	3/1.0	1,232 (+0%)	1mo	$145,000	$118	77
5541 Douglas Rd	0.28mi	3/2.0	1,152 (-6%)	2mo	$220,000	$191	71
5934 Midwest Ave	0.31mi	3/1.0	1,360 (+10%)	2mo	$180,000	$132	66
2338 Brookridge Dr	0.61mi	3/1.0	1,265 (+3%)	3mo	$155,000	$123	64
6145 Hiddenbrook Dr	0.69mi	3/1.0	1,215 (-1%)	2mo	$185,000	$152	64
5737 Yermo Dr	0.56mi	3/1.5	1,276 (+4%)	3mo	$200,000	$157	63
5505 Chippewa Rd	0.67mi	3/1.0	1,280 (+4%)	1mo	$175,900	$137	62
5845 Douglas Rd	0.30mi	3/3.0	1,399 (+14%)	1mo	$237,900	$170	55
5420 Ruth Ave	0.57mi	3/1.0	1,351 (+10%)	3mo	$162,500	$120	55
5322 Douglas Rd	0.56mi	3/1.0	1,107 (-10%)	3mo	$158,500	$143	54
5724 W Rowland Rd	0.67mi	2/2.0 (-1)	1,140 (-7%)	1mo	$153,000	$134	47

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

Projected returns pro-forma

-3.0% appreciation · 3.3% rent growth · sell at horizon

5-year hold

• IRR: -25.6%
• Equity multiple: 0.13×
• Total profit: $-42,649
• Equity at exit: $26,078

10-year hold

• IRR: -21.2%
• Equity multiple: -0.11×
• Total profit: $-54,490
• Equity at exit: $15,122

Cash invested: $48,972 (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 43613

• Home prices YoY: -20.7%
• Rents YoY: 3.3%
• Active inventory: 111
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,218 high
• Mortgage (P&I): −$917
• Tax from tax record: −$203 /mo · $2,436/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $-231

Break-even live

Break-even rent $1,510

Max offer price $134,167

Occupancy floor —

Sensitivity live

Price	-10% $-132	-5% $-181	+0% $-231	+5% $-280	+10% $-330
Rent	-10% $-327	-5% $-279	+0% $-231	+5% $-182	+10% $-134
Rate	-1.0pp $-142	-0.5pp $-186	base $-231	+0.5pp $-276	+1.0pp $-322

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2527 Arletta St Toledo, OH	2.0	1.0	1100	$1,100	$1.00	44d	1	0.39mi
2338 Bodette Ave Toledo, OH	3.0	2.0	1150	$1,800	$1.57	22d	1	0.43mi
3065 Tremainsville Rd Toledo, OH	1.0–2.0	1.0	800	$929	$1.16	14d	1	0.45mi
2347 Bucklew Dr Toledo, OH	3.0	2.0	1200	$1,600	$1.33	14d	1	0.48mi
5834 Yermo Dr Toledo, OH	1.0–2.0	1.0–2.0	870	$909	$1.04	14d	12	0.65mi
5635 Secor Rd Toledo, OH	2.0	1.0	800	$858	$1.07	44d	1	0.75mi
5360 Secor Rd Unit 316 Toledo, OH	2.0	1.0	900	$699	$0.78	24d	1	0.79mi
2132 Stirrup Ln Toledo, OH	2.0	1.0	900	$1,035	$1.15	44d	3	0.80mi
3145 Brock Dr Toledo, OH	3.0	2.0	1100	$1,600	$1.45	14d	1	0.82mi
6020 Secor Rd Unit 1 Toledo, OH	2.0	1.5	760	$825	$1.09	22d	1	0.82mi
3355 W Alexis Rd Toledo, OH	2.0	1.0	675	$809	$1.20	14d	3	0.83mi
5831 Gany Mede Dr Toledo, OH	3.0	1.0	1004	$1,600	$1.59	14d	1	0.84mi
5941 Tetherwood Dr Toledo, OH	3.0	1.5	1364	$1,695	$1.24	24d	1	0.87mi
5080 Secor Rd Toledo, OH	1.0–2.0	1.0–1.5	699	$925	$1.32	44d	1	0.99mi
5240 Oakridge Dr Toledo, OH	2.0	1.0	872	$945	$1.08	14d	1	1.03mi
5133 Secor Rd Toledo, OH	2.0	2.0	850	$1,099	$1.29	24d	1	1.03mi
3353 W Laskey Rd Unit 2 Toledo, OH	3.0	1.0	750	$850	$1.13	22d	1	1.20mi
3355 W Laskey Rd Apt 24 Toledo, OH	2.0	1.0	750	$850	$1.13	24d	1	1.21mi
3355 W Laskey Rd Toledo, OH	2.0	1.0	750	$850	$1.13	14d	2	1.21mi
1732 Newport Ave Toledo, OH	3.0	1.0	896	$1,350	$1.51	24d	1	1.26mi
1801 Christian Ave Toledo, OH	1.0–2.0	1.0	750	$939	$1.25	14d	1	1.28mi
1733 Christian Ave Unit 5 Toledo, OH	2.0	1.0	839	$700	$0.83	44d	1	1.35mi

Listing history 23 events

1. 2026-06-18
   days on market $174,900 Active 13 DOM
2. 2026-06-17
   days on market $174,900 Active 12 DOM
3. 2026-06-16
   days on market $174,900 Active 11 DOM
4. 2026-06-15
   days on market $174,900 Active 10 DOM
5. 2026-06-14
   days on market $174,900 Active 8 DOM
6. 2026-06-13
   days on market $174,900 Active 7 DOM
7. 2026-06-10
   days on market $174,900 Active 5 DOM
8. 2026-06-09
   days on market $174,900 Active 4 DOM
9. 2026-06-08
   days on market $174,900 Active 3 DOM
10. 2026-06-07
    statusdays on market $174,900 Active 2 DOM
11. 2026-06-03
    days on market $174,900 Coming Soon 6 DOM
12. 2026-06-02
    days on market $174,900 Coming Soon 5 DOM
13. 2026-06-01
    days on market $174,900 Coming Soon 4 DOM
14. 2026-05-31
    days on market $174,900 Coming Soon 3 DOM
15. 2026-05-30
    days on market $174,900 Coming Soon 2 DOM
16. 2026-04-06
    listed $179,900 Active 191-char remark
17. 2025-10-14
    price $57,000 303-char remark

    Show marketing remark (303 chars)

    Four bedrooms in Washington local for under $70K! Beautiful refinished hardwood floors through. Full basement with high ceilings waiting to be finished. Master bedroom on main level, huge eat in kitchen with newer appliances, flooring and countertops. Yard is massive, this one won't last at this price!

18. 2013-04-22
    soldstatus $57,000
19. 2013-04-17
    soldstatus $57,000 303-char remark

    Show marketing remark (303 chars)

    Four bedrooms in Washington local for under $70K! Beautiful refinished hardwood floors through. Full basement with high ceilings waiting to be finished. Master bedroom on main level, huge eat in kitchen with newer appliances, flooring and countertops. Yard is massive, this one won't last at this price!

20. 2013-02-26
    price $61,900 303-char remark

    Show marketing remark (303 chars)

    Four bedrooms in Washington local for under $70K! Beautiful refinished hardwood floors through. Full basement with high ceilings waiting to be finished. Master bedroom on main level, huge eat in kitchen with newer appliances, flooring and countertops. Yard is massive, this one won't last at this price!

21. 2013-01-09
    listed $61,900 303-char remark

    Show marketing remark (303 chars)

    Four bedrooms in Washington local for under $70K! Beautiful refinished hardwood floors through. Full basement with high ceilings waiting to be finished. Master bedroom on main level, huge eat in kitchen with newer appliances, flooring and countertops. Yard is massive, this one won't last at this price!

22. 1991-09-06
    soldstatus $51,000
23. 1959-04-20
    soldstatus $10,000

ⓘ 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: $2,436 · $203/mo
• Projected year-2 tax: $2,582 · $215/mo
• Expected delta: +$146/yr (+$12/mo · 6.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 15 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: $14,619
• − Mortgage interest: −$9,797
• − Property taxes: −$2,436
• − Insurance: −$874
• − Repairs & maintenance: −$1,170
• − Management: −$1,170
• − Depreciation: −$5,088
• Taxable loss: −$5,915
• Est. tax savings @ 24.0%: +$1,420
• After-tax cash flow: $-1,347/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: Washington Local
• NCES district ID: 3904823
• Math proficiency: 37% ▼ -20.00%
• Reading proficiency: 47% ▼ -11.00%
• Median HH income: $42,105
• Composite: 35.36/100
• National rank: #4957
• State rank: #528 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): 30,780
• Household income: $64,384
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 917.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Black 15% Two or more races 10% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 9% Lithuanian 3% Slovak 1%
• Foreign-born: 2% · Canada
• 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: ▼ -62.37%
• Current HPI: 239.1345
• Rent YoY: ▲ 3.30%
• 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

+1649.0% since first listed

11 events — show timeline

• 2026-06-05 Listed $174,900 NORIS
• 2026-05-28 Coming Soon $174,900 NORIS
• 2026-05-27 Listing Removed — NORIS
• 2026-04-06 Listed $179,900 NORIS
• 2025-10-14 Price Changed $57,000 NORIS
• 2013-04-22 Sold (Public Records) $57,000 Public Records
• 2013-04-17 Sold (MLS) $57,000 NORIS
• 2013-02-26 Price Changed $61,900 NORIS
• 2013-01-09 Listed $61,900 NORIS
• 1991-09-06 Sold (Public Records) $51,000 Public Records
• 1959-04-20 Sold (Public Records) $10,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $2,436 · +2.0% YoY. Source: county tax records.