1935 South Ave · Toledo, OH 43609

$67,995

2 bd · 1.0 ba · 660 sqft · SingleFamily public records · 18 Days on market

Built 1924 4,700 sqft lot Est $61k · 11% over

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Why this score? — see what drove the C+ 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 +26.8/30.0
• DSCR +9.2/10.0
• 1% rule +7.0/10.0
• Appreciation +5.4/10.0
• Rent growth +4.5/5.0
• Livability +3.3/5.0
• ARV discount +2.7/15.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks MLS

Completely remodelled and updated Doll House! New Great lake vinyl replacement windows, new GFA Furnace, Gorgeous eat-in kitchen w/new custom cabinetry and counters, Upgraded 100 amp electric service,New bath, plumbing, carpet, vinyl flooring, and paint in/out! Great starter must see!!

Key facts

• Large corner lot
• New flooring
• New roof

Tags

• LARGE CORNER LOT
• ENCLOSED FRONT PORCH
• NEW ROOF
• NEW FLOORING
• DETACHED ONE CAR GARAGE

Property features AI

Exterior

• Parking: Detached garage; Driveway; On-street parking; 1 garage space; 2 total parking spaces
• Security: Smoke detectors; Security lights
• Utilities: Public water; Sanitary sewer; Electricity connected (100 Amp service, circuit breakers); Natural gas connected; Cable connected
• Home design: Single-family residence (house); One story
• Construction: Aluminum siding; Block foundation; Asphalt roof; Built year source: assessor
• Exterior features: Full fencing; Corner lot; City street frontage; Asphalt road surface

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Primary bedroom (main level); Bedroom 2 (main level)
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Double-pane and insulated windows with screens; 5 total rooms; Has basement
• Laundry & utility: Laundry in basement; Electric dryer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($816 rent vs $68k).
• Recommended offer: $67k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 7.6% in Toledo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Arlington Elementary School (math 12% / reading 14%, grade F, #1,429 of 1,584 statewide, top 90%, 327 students, 0% FRL); Bowsher High School (math 23% / reading 45%, grade F, #596 of 781 statewide, top 76%, 1,240 students, 49% 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 (+7.8%/yr); 99 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).

Forward outlook

• In year one you build about $980 of equity ($470 loan paydown + $510 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 $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 3 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 $52k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $66,975 (1.5% below list)

Questions for the listing agent

1. Built in 1924 — 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: 1.20% ✓
• Cap rate: 9.59%
• Cash-on-cash: 11.76%
• DSCR: 1.52
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $61,380
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
634 Woodsdale Ave	0.27mi	2/1.0	682 (+3%)	12mo	$53,000	$78	72
940 Francis Ave	0.58mi	2/1.0	659 (-0%)	7mo	$76,000	$115	67
837 Woodsdale Ave	0.46mi	2/1.0	638 (-3%)	10mo	$55,000	$86	65
142 Whiting Ave	0.44mi	2/1.0	696 (+6%)	10mo	$10,000	$14	62
513 Federman St	0.35mi	2/1.0	726 (+10%)	13mo	$84,900	$117	56
939 Francis Ave	0.58mi	2/1.0	725 (+10%)	6mo	$61,800	$85	52
506 Brighton Ave	0.49mi	2/1.0	726 (+10%)	11mo	$117,700	$162	51
139 Kenmore Ave	0.46mi	2/2.0	753 (+14%)	1mo	$40,000	$53	50
1011 Atlantic Ave	0.65mi	2/1.0	721 (+9%)	9mo	$94,000	$130	46
2375 Airline Ave	0.59mi	2/1.0	755 (+14%)	9mo	$70,000	$93	41
825 Ogden Ave	0.56mi	2/1.0	600 (-9%)	22mo	$50,500	$84	41
1062 National Ave	0.74mi	2/1.0	715 (+8%)	24mo	$90,900	$127	32

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: 16.5%
• Equity multiple: 1.86×
• Total profit: $16,464
• Equity at exit: $22,330

10-year hold

• IRR: 23.1%
• Equity multiple: 4.16×
• Total profit: $60,151
• Equity at exit: $29,004

Cash invested: $19,039 (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: 99
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $816 high
• Mortgage (P&I): −$357
• Tax from tax record: −$73 /mo · $881/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$171
• Net cashflow: $187

Break-even live

Break-even rent $580

Max offer price $67,995

Occupancy floor 72%

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: $16,999
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
707 Toronto Ave Toledo, OH	1.0	1.0	750	$775	$1.03	23d	1	0.39mi
538 Nicholas St Unit B Toledo, OH	1.0	1.0	600	$600	$1.00	44d	1	0.60mi
1734 Arlington Ave Toledo, OH	2.0	1.0	700	$800	$1.14	14d	1	0.61mi
2820 Airport Hwy Toledo, OH	1.0	1.0	580	$679	$1.17	14d	1	0.98mi
2820 Airport Hwy Toledo, OH	1.0	1.0	580	$679	$1.17	44d	1	0.98mi
2820 Airport Hwy Toledo, OH	1.0	1.0	580	$704	$1.21	23d	1	0.98mi
1037 Orchard St Toledo, OH	2.0	1.0	696	$820	$1.18	21d	1	1.29mi

Listing history 8 events

1. 2026-05-05
   status Pending
2. 2026-04-20
   historical Contingent
3. 2026-04-17
   listed $67,995 Active
4. 2002-04-22
   soldstatus $51,900 286-char remark

   Show marketing remark (286 chars)

   Completely remodelled and updated Doll House! New Great lake vinyl replacement windows, new GFA Furnace, Gorgeous eat-in kitchen w/new custom cabinetry and counters, Upgraded 100 amp electric service,New bath, plumbing, carpet, vinyl flooring, and paint in/out! Great starter must see!!

5. 2002-04-19
   soldstatus $51,900
6. 2002-02-26
   listed $51,900 286-char remark

   Show marketing remark (286 chars)

   Completely remodelled and updated Doll House! New Great lake vinyl replacement windows, new GFA Furnace, Gorgeous eat-in kitchen w/new custom cabinetry and counters, Upgraded 100 amp electric service,New bath, plumbing, carpet, vinyl flooring, and paint in/out! Great starter must see!!

7. 2001-12-25
   historical
8. 2001-10-08
   listed $58,900

ⓘ 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: $881 · $73/mo
• Projected year-2 tax: $971 · $81/mo
• Expected delta: +$90/yr (+$7/mo · 10.2%)

ⓘ 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 ≥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: $9,796
• − Mortgage interest: −$3,809
• − Property taxes: −$881
• − Insurance: −$340
• − Repairs & maintenance: −$784
• − Management: −$784
• − Depreciation: −$1,978
• Taxable income: $1,221
• Est. tax owed @ 24.0%: −$293
• After-tax cash flow: $1,946/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

+15.4% since first listed

8 events — show timeline

• 2026-05-05 Pending — NORIS
• 2026-04-20 Contingent — NORIS
• 2026-04-17 Listed $67,995 NORIS
• 2002-04-22 Sold (MLS) $51,900 NORIS
• 2002-04-19 Sold (Public Records) $51,900 Public Records
• 2002-02-26 Listed $51,900 NORIS
• 2001-12-25 Listing Removed — NORIS
• 2001-10-08 Listed $58,900 NORIS

Property tax history

-1.4%/yr

Latest (2025): $881 · +1.9% YoY. Source: county tax records.