617 Bowman St · Toledo, OH 43609

$76,900

4 bd · 1.0 ba · 1,710 sqft · SingleFamily public records · 5 Days on market

Built 1912 2,600 sqft lot Est $70k · 10% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.4/10.0
• Rent growth +4.5/5.0
• Livability +3.3/5.0
• ARV discount +3.1/15.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks MLS

Calling all investors or first-time homeowners, look at this renovated rare 4 bed 1.5 bath home with multiple updates. There is the added convenience of a laundry room on the main level with a half-bath and bedroom. The electrical and plumbing have all been updated as well as most of the windows. You do not want to miss this great opportunity!

Key facts

• 2,600 sq ft lot
• Built 1912
• Listed 5 days

Property features AI

Exterior

• Parking: Off-street parking
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: Cable connected; Electricity connected (100 Amp service); Natural gas connected; Public water; Public / sanitary sewer connected
• Home design: Single-family residence (house); Two levels / 2 stories; Not attached to other structures; No common walls
• Construction: Aluminum siding; Steel siding; Shingle roof; Other foundation; Year built from public records
• Exterior features: Front porch; Chain link and wood fencing; Level lot; Alley and city street frontage; Asphalt and concrete road surfaces

Interior

• Kitchen: Convection oven
• Bedrooms: Main level bedroom (9 x 11); Upper level bedrooms: Bedroom 2 (11 x 11), Bedroom 3 (11 x 11), additional upper room (12 x 11)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Cooling system (other)
• Interior features: 8 total rooms; Basement (block); Screens on windows; Other interior features
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $77k.

Deal economics

• At list price, monthly cash flow is $490 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $77k).
• Cap rate 13.9% vs local median 7.7% 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: Marshall Stemm Academy (math 2% / reading 8%, grade F, #1,554 of 1,584 statewide, top 100%, 374 students, 0% FRL); Waite High School (math 12% / reading 24%, grade F, #687 of 781 statewide, top 88%, 997 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: Rents rising fast (+7.8%/yr); 100 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% 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).
• This rent runs 35% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $1k of equity ($532 loan paydown + $576 appreciation (0.8% 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 (0.8% appreciation + 7.8% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 9y 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 $62k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $76,900

Questions for the listing agent

1. Built in 1912 — 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: 1.62% ✓
• Cap rate: 13.93%
• Cash-on-cash: 27.29%
• DSCR: 2.21
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $70,110
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
936 Orchard St	0.27mi	4/1.0	1,907 (+12%)	2mo	$98,000	$51	66
247 Field Ave	0.54mi	4/1.0	1,712 (+0%)	12mo	$70,400	$41	65
701 Boalt St	0.37mi	3/1.0 (-1)	1,692 (-1%)	14mo	$8,000	$5	64
620 South Ave	0.29mi	4/1.0	1,876 (+10%)	8mo	$77,000	$41	64
210 Charles St	0.61mi	3/1.0 (-1)	1,712 (+0%)	8mo	$47,500	$28	60
1157 Walbridge Ave	0.64mi	4/1.5	1,718 (+0%)	8mo	$80,000	$47	60
440 South Ave	0.49mi	3/3.0 (-1)	1,790 (+5%)	1mo	$160,000	$89	56
582 Colburn St	0.30mi	3/1.0 (-1)	1,561 (-9%)	21mo	$41,000	$26	49
245 Langdon St	0.49mi	3/1.0 (-1)	1,538 (-10%)	9mo	$23,500	$15	48
1207 Colton St	0.65mi	3/1.0 (-1)	1,546 (-10%)	1mo	$55,000	$36	48
1045 Walbridge Ave	0.51mi	3/1.0 (-1)	1,460 (-15%)	22mo	$85,000	$58	28
1211 Walbridge Ave	0.67mi	5/2.0 (+1)	1,861 (+9%)	24mo	$57,500	$31	25

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

Projected returns pro-forma

0.75% appreciation · 7.8% rent growth · sell at horizon

5-year hold

• IRR: 33.2%
• Equity multiple: 2.76×
• Total profit: $37,994
• Equity at exit: $25,254

10-year hold

• IRR: 38.3%
• Equity multiple: 6.35×
• Total profit: $115,119
• Equity at exit: $32,802

Cash invested: $21,532 (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 43609

• Home prices YoY: 0.3%
• Rents YoY: 7.8%
• Active inventory: 100
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,246 high
• Mortgage (P&I): −$403
• Tax from tax record: −$59 /mo · $711/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $490

Break-even live

Break-even rent $626

Max offer price $76,900

Occupancy floor 56%

Sensitivity live

Price	-10% $533	-5% $511	+0% $490	+5% $468	+10% $446
Rent	-10% $391	-5% $440	+0% $490	+5% $539	+10% $588
Rate	-1.0pp $528	-0.5pp $509	base $490	+0.5pp $470	+1.0pp $450

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: $19,225
• Closing costs: $2,307
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1021 Walbridge Ave Toledo, OH	3.0	1.0	1592	$975	$0.61	45d	1	0.47mi
244 Knower St Toledo, OH	3.0	1.0	1120	$995	$0.89	15d	1	0.71mi
2424 Broadway St Toledo, OH	3.0	1.0	1416	$1,049	$0.74	15d	1	0.74mi
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	45d	1	0.83mi
724 Spencer St Toledo, OH	3.0	1.5	1127	$1,100	$0.98	45d	1	0.97mi
532 Carlton St Toledo, OH	3.0	1.0	1130	$1,050	$0.93	45d	1	1.01mi
523 Nicholas St Toledo, OH	3.0	1.0	1290	$1,350	$1.05	15d	1	1.05mi
825 Brighton Ave Toledo, OH	3.0	1.0	1533	$1,350	$0.88	45d	1	1.17mi
2802 Broadway St Unit 1 Toledo, OH	3.0	1.0	1650	$1,400	$0.85	15d	1	1.48mi

Listing history 5 events

1. 2026-06-17
   days on market $76,900 Active 5 DOM
2. 2026-06-16
   days on market $76,900 Active 4 DOM
3. 2026-06-15
   days on market $76,900 Active 3 DOM
4. 2026-06-14
   remarks 434-char remark
5. 2026-06-14
   listed $76,900 Active 1 DOM

ⓘ 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: $711 · $59/mo
• Projected year-2 tax: $955 · $80/mo
• Expected delta: +$244/yr (+$20/mo · 34.4%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,951
• − Mortgage interest: −$4,308
• − Property taxes: −$711
• − Insurance: −$384
• − Repairs & maintenance: −$1,196
• − Management: −$1,196
• − Depreciation: −$2,237
• Taxable income: $4,919
• Est. tax owed @ 24.0%: −$1,180
• After-tax cash flow: $4,696/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): 21,404
• Household income: $42,313
• Rent vs Own: 55.7% rent · 44.3% own
• Severe rent burden: 1603.0

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 0.66)
• Race & ethnicity: White 47% Black 29% Hispanic / Latino 17% Two or more races 9%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Arabic 1% 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: ▲ 0.75%
• Current HPI: 235.2515
• Rent YoY: ▲ 7.80%
• 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

+1453.5% since first listed

21 events — show timeline

• 2026-06-12 Listed $76,900 NORIS
• 2024-11-23 Rental Removed $1,100 APPFOLIO
• 2024-11-01 Price Changed $1,100 APPFOLIO
• 2024-08-09 Listed for Rent $1,300 APPFOLIO
• 2023-12-27 Sold (Public Records) $62,000 Public Records
• 2023-12-21 Pending — NORIS
• 2023-12-21 Sold (MLS) $62,000 NORIS
• 2023-11-11 Contingent — NORIS
• 2023-11-09 Listed $62,000 NORIS
• 2023-11-08 Coming Soon $62,000 NORIS
• 2023-10-31 Price Changed $62,000 NORIS
• 2023-10-31 Listing Removed — NORIS
• 2023-08-19 Relisted — NORIS
• 2023-06-04 Contingent — NORIS
• 2023-04-04 Relisted — NORIS
• 2023-03-20 Contingent — NORIS
• 2023-03-10 Listed $69,000 NORIS
• 2023-03-01 Listing Removed — NORIS
• 2022-12-01 Listed $73,900 NORIS
• 2017-04-05 Sold (MLS) $4,950 NORIS
• 2017-03-02 Listed $4,950 NORIS

Property tax history

+9.1%/yr

Latest (2025): $711 · +32.5% YoY. Source: county tax records.