650 Dryden Dr · Toledo, OH 43612

$89,900

3 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 12 Days on market

Built 1923 4,200 sqft lot $72/sqft · 15% below area Est $106k · 15% 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 +14.2/15.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Rent growth +4.0/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom 1 bath home with 2 car garage and full basement. New Roof 2023. Tenant occupied month to month. Would like to stay. 24 hours notice for showings.

Key facts

• 4,200 sq ft lot
• 2 garage spots
• Built 1923

Property features AI

Exterior

• Parking: 2-car garage; Driveway
• Utilities: Cable connected; Electricity connected; Natural gas connected; Public sewer; Public water
• Home design: Single-family house; Two levels; No shared/common walls
• Construction: Vinyl siding; Block foundation
• Exterior features: Shingle roof

Interior

• Kitchen: Kitchen (11 x 12); Water heater
• Bedrooms: Primary bedroom (11 x 14); Bedroom 2 (11 x 10); Bedroom 3 (11 x 10)
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Window cooling units
• Interior features: Ceiling fan(s); Basement present
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $336 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 10.8% 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: Whittier Elementary School (math 6% / reading 13%, grade F, #1,505 of 1,584 statewide, top 95%, 509 students, 0% FRL); Start High School (math 11% / reading 33%, grade F, #672 of 781 statewide, top 86%, 1,242 students, 50% FRL) — zoned schools average 25% FRL vs 72% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+6.0%/yr); 92 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $622 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 6.0% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 25y 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 $75k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,900

Questions for the listing agent

1. Built in 1923 — 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: 1.35% ✓
• Cap rate: 10.78%
• Cash-on-cash: 16.03%
• DSCR: 1.71
• GRM: 6.2

CMA / ARV

• ARV (median comp): $105,646
• List price: $89,900
• Delta: -14.90%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
650 Dryden Dr	0.00mi	3/1.0	1,248 (0%)	1mo	$75,000	$60	100
4321 Burnham Ave	0.04mi	3/1.5	1,256 (+1%)	0mo	$85,000	$68	95
4227 Caroline Ave	0.10mi	3/1.5	1,210 (-3%)	0mo	$134,500	$111	88
3948 Vermaas Ave	0.31mi	3/1.0	1,296 (+4%)	1mo	$60,000	$46	78
3868 Eggeman Ave	0.45mi	3/1.0	1,262 (+1%)	1mo	$70,000	$55	76
3940 Vermaas Ave	0.32mi	3/1.0	1,305 (+5%)	2mo	$70,000	$54	76
439 W Capistrano Ave	0.63mi	3/1.0	1,244 (-0%)	1mo	$116,000	$93	69
4048 Asbury Dr	0.21mi	3/1.0	1,091 (-13%)	0mo	$89,600	$82	69
1221 Eleanor Ave	0.60mi	3/1.0	1,098 (-12%)	1mo	$120,000	$109	51
3713 Drexel Dr	0.73mi	3/1.0	1,356 (+9%)	1mo	$115,000	$85	50
1204 Higley St	0.68mi	2/2.0 (-1)	1,184 (-5%)	1mo	$119,000	$101	50
802 W Capistrano Ave	0.64mi	3/1.0	1,102 (-12%)	1mo	$150,000	$136	50

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 · 6.01% rent growth · sell at horizon

5-year hold

• IRR: 10.4%
• Equity multiple: 1.42×
• Total profit: $10,670
• Equity at exit: $13,404

10-year hold

• IRR: 21.8%
• Equity multiple: 3.13×
• Total profit: $53,541
• Equity at exit: $7,773

Cash invested: $25,172 (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 43612

• Home prices YoY: -17.5%
• Rents YoY: 6.0%
• Active inventory: 92
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,218 high
• Mortgage (P&I): −$471
• Tax from tax record: −$117 /mo · $1,404/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $336

Break-even live

Break-even rent $792

Max offer price $89,900

Occupancy floor 67%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4406 Asbury Dr Toledo, OH	4.0	2.0	1089	$1,550	$1.42	14d	1	0.12mi
4220 Caroline Ave Toledo, OH	3.0	1.0	944	$1,095	$1.16	44d	1	0.14mi
4129 Vermaas Ave Toledo, OH	3.0	1.5	1385	$1,250	$0.90	44d	1	0.15mi
4124 Vermaas Ave Toledo, OH	2.0	1.0	1245	$997	$0.80	44d	1	0.16mi
4140 Caroline Ave Toledo, OH	3.0	1.5	1378	$1,650	$1.20	23d	1	0.18mi
4039 Vermaas Ave Toledo, OH	2.0	1.0	900	$900	$1.00	23d	1	0.22mi
3950 Woodhaven Dr Toledo, OH	2.0	1.0	1072	$745	$0.69	23d	1	0.35mi
1016 Mallett St Unit 1 Toledo, OH	2.0	1.0	1300	$900	$0.69	44d	1	0.39mi
4158 Mayfield Dr Toledo, OH	2.0	1.0	960	$850	$0.89	14d	1	0.41mi
4459 N Haven Ave Toledo, OH	3.0	1.0	1416	$1,200	$0.85	14d	1	0.51mi
244 Sunset Blvd Toledo, OH	2.0	1.0	726	$1,045	$1.44	21d	1	0.53mi
4138 N Lockwood Ave Toledo, OH	2.0	1.0	1300	$1,050	$0.81	23d	1	0.53mi
1014 Berdan Ave Toledo, OH	3.0	1.0	1215	$1,200	$0.99	44d	1	0.63mi
3915 Willys Pkwy Unit 3915 Toledo, OH	3.0	1.0	1080	$800	$0.74	21d	1	0.75mi
3615 Berkeley Dr Toledo, OH	3.0	1.0	1096	$1,400	$1.28	14d	1	0.75mi
823 Custer Dr Unit Upstairs Toledo, OH	2.0	1.0	700	$925	$1.32	14d	1	0.80mi
4223 Birchall Rd Toledo, OH	3.0	1.0	1338	$1,395	$1.04	23d	1	0.86mi
1338 Crestwood Rd Toledo, OH	3.0	1.0	1000	$1,250	$1.25	14d	1	0.86mi
3805 Hoiles Ave Toledo, OH	3.0	1.0	1370	$1,025	$0.75	23d	1	0.93mi
3725 Hoiles Ave Toledo, OH	3.0	1.0	1180	$1,245	$1.06	23d	1	0.94mi
4120 Parrakeet Ave Toledo, OH	3.0	2.0	1410	$1,450	$1.03	44d	1	0.95mi
3541 Willys Pkwy Toledo, OH	3.0	1.0	1113	$1,400	$1.26	44d	1	0.96mi
5207 Bennett Rd Toledo, OH	2.0	2.0	1109	$1,200	$1.08	14d	1	0.99mi
3713 Hazelhurst Ave Toledo, OH	3.0	1.5	1352	$1,700	$1.26	44d	1	1.01mi
4038 Lyman Ave Toledo, OH	3.0	1.0	1175	$1,395	$1.19	44d	1	1.04mi
610 Cadillac Ct Toledo, OH	3.0	1.0	1409	$1,050	$0.75	23d	1	1.08mi
3901 Leybourn Ave Toledo, OH	3.0	1.0	840	$1,150	$1.37	23d	1	1.09mi
3606 Revere Dr Toledo, OH	4.0	1.0	1320	$1,500	$1.14	44d	1	1.12mi
4614 Commonwealth Ave Toledo, OH	3.0	1.5	1459	$1,295	$0.89	14d	1	1.13mi
1489 Berdan Ave Toledo, OH	3.0	1.0	1068	$1,250	$1.17	44d	1	1.16mi
3817 Burton Ave Toledo, OH	3.0	1.0	754	$1,015	$1.35	21d	1	1.17mi
927 W Northgate Pkwy Toledo, OH	2.0	1.0	896	$1,100	$1.23	14d	1	1.21mi
31 W Oakland St Toledo, OH	4.0	1.0	1188	$1,249	$1.05	23d	1	1.23mi
59 E Hudson St Toledo, OH	3.0	1.0	1368	$1,100	$0.80	44d	1	1.27mi
4435 Jackman Rd Toledo, OH	1.0–2.0	1.0	725	$922	$1.27	14d	3	1.35mi
4315 Garden Park Dr Toledo, OH	3.0	1.0	1268	$1,423	$1.12	23d	1	1.36mi
333 E Lake St Toledo, OH	2.0	1.0	800	$495	$0.62	23d	1	1.40mi
2907 Rockwood Pl Toledo, OH	3.0	1.0	1494	$1,100	$0.74	14d	1	1.40mi
405 E Manhattan Blvd Toledo, OH	2.0	1.0	1000	$900	$0.90	14d	1	1.43mi
425 Boston Pl Unit A Toledo, OH	2.0	1.0	1200	$895	$0.75	23d	1	1.48mi

Listing history 26 events

1. 2026-05-07
   status Pending 227-char remark
2. 2026-04-24
   listed $89,900 Active 227-char remark
3. 2025-10-14
   price $55,000 155-char remark

   Show marketing remark (155 chars)

   3 bedroom 1 bath home with 2 car garage and full basement. New Roof 2023. Tenant occupied month to month. Would like to stay. 24 hours notice for showings.

4. 2025-10-09
   price $25,000

   Show marketing remark (375 chars)

   FORECLOSURE PROPERTY. Great opportunity to increase value with your improvements. In order for offers to be considered buyers must submit Proof of Funds or "AS-IS" financing letter subject to appraisal only, accept the property in its current condition not subject to inspections. Offers will be negotiated and then sellers purchase addendum will follow acceptance.

5. 2024-02-05
   soldstatus $55,000
6. 2023-12-22
   status Pending 155-char remark

   Show marketing remark (155 chars)

   3 bedroom 1 bath home with 2 car garage and full basement. New Roof 2023. Tenant occupied month to month. Would like to stay. 24 hours notice for showings.

7. 2023-12-20
   soldstatus $55,000 Closed 155-char remark

   Show marketing remark (155 chars)

   3 bedroom 1 bath home with 2 car garage and full basement. New Roof 2023. Tenant occupied month to month. Would like to stay. 24 hours notice for showings.

8. 2023-12-08
   historical Contingent 155-char remark

   Show marketing remark (155 chars)

   3 bedroom 1 bath home with 2 car garage and full basement. New Roof 2023. Tenant occupied month to month. Would like to stay. 24 hours notice for showings.

9. 2023-10-24
   listed $60,000 Active 155-char remark

   Show marketing remark (155 chars)

   3 bedroom 1 bath home with 2 car garage and full basement. New Roof 2023. Tenant occupied month to month. Would like to stay. 24 hours notice for showings.

10. 2018-03-09
    historical
11. 2018-01-27
    listed $29,900
12. 2008-06-18
    soldstatus $25,000

    Show marketing remark (375 chars)

    FORECLOSURE PROPERTY. Great opportunity to increase value with your improvements. In order for offers to be considered buyers must submit Proof of Funds or "AS-IS" financing letter subject to appraisal only, accept the property in its current condition not subject to inspections. Offers will be negotiated and then sellers purchase addendum will follow acceptance.

13. 2008-05-02
    listed $29,900

    Show marketing remark (375 chars)

    FORECLOSURE PROPERTY. Great opportunity to increase value with your improvements. In order for offers to be considered buyers must submit Proof of Funds or "AS-IS" financing letter subject to appraisal only, accept the property in its current condition not subject to inspections. Offers will be negotiated and then sellers purchase addendum will follow acceptance.

14. 2006-11-16
    historical
15. 2006-05-16
    listed $99,900
16. 2004-10-05
    soldstatus $102,000
17. 2004-01-23
    historical
18. 2003-01-23
    listed $79,900
19. 2002-09-01
    historical
20. 2002-03-01
    listed $79,850
21. 2001-01-24
    price $35,000
22. 2001-01-24
    soldstatus $35,000
23. 2001-01-19
    listed $32,000
24. 1997-04-22
    soldstatus $55,000
25. 1990-12-26
    soldstatus $41,900
26. 1984-12-12
    soldstatus $25,000

ⓘ 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: $1,404 · $117/mo
• Projected year-2 tax: $1,404 · $117/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 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 · 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: $14,615
• − Mortgage interest: −$5,036
• − Property taxes: −$1,404
• − Insurance: −$450
• − Repairs & maintenance: −$1,169
• − Management: −$1,169
• − Depreciation: −$2,615
• Taxable income: $2,772
• Est. tax owed @ 24.0%: −$665
• After-tax cash flow: $3,370/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): 28,480
• Household income: $50,728
• Rent vs Own: 45.4% rent · 54.6% own
• Severe rent burden: 1203.0

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: Majority White (63%)
• Race & ethnicity: White 63% Black 23% Two or more races 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Romanian 9% Lithuanian 3% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 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: ▼ -50.05%
• Current HPI: 235.5389
• Rent YoY: ▲ 6.01%
• 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

+200.0% since first listed

27 events — show timeline

• 2026-06-03 Sold (MLS) $75,000 NORIS
• 2026-05-07 Pending — NORIS
• 2026-04-24 Listed $89,900 NORIS
• 2025-10-14 Price Changed $55,000 NORIS
• 2025-10-09 Price Changed $25,000 NORIS
• 2024-02-05 Sold (Public Records) $55,000 Public Records
• 2023-12-22 Pending — NORIS
• 2023-12-20 Sold (MLS) $55,000 NORIS
• 2023-12-08 Contingent — NORIS
• 2023-10-24 Listed $60,000 NORIS
• 2018-03-09 Listing Removed — NORIS
• 2018-01-27 Listed $29,900 NORIS
• 2008-06-18 Sold (MLS) $25,000 NORIS
• 2008-05-02 Listed $29,900 NORIS
• 2006-11-16 Listing Removed — NORIS
• 2006-05-16 Listed $99,900 NORIS
• 2004-10-05 Sold (Public Records) $102,000 Public Records
• 2004-01-23 Listing Removed — NORIS
• 2003-01-23 Listed $79,900 NORIS
• 2002-09-01 Listing Removed — NORIS
• 2002-03-01 Listed $79,850 NORIS
• 2001-01-24 Price Changed $35,000 NORIS
• 2001-01-24 Sold (MLS) $35,000 NORIS
• 2001-01-19 Listed $32,000 NORIS
• 1997-04-22 Sold (Public Records) $55,000 Public Records
• 1990-12-26 Sold (Public Records) $41,900 Public Records
• 1984-12-12 Sold (Public Records) $25,000 Public Records

Property tax history

+0.4%/yr

Latest (2025): $1,404 · +6.4% YoY. Source: county tax records.