4031 Westway St · Toledo, OH 43612

$86,667

4 bd · 1.5 ba · 1,718 sqft · SingleFamily public records · 7 Days on market

Built 1923 4,700 sqft lot $50/sqft · 17% below area Est $104k · 17% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Welcome to 4031 Westway, a comfortable four-bedroom, two-bath home offering a practical layout in a well-established Toledo neighborhood. The main living areas provide flexible space for daily routines, while the kitchen offers functionality for cooking and gathering. With four bedrooms, the home supports a variety of living arrangements, work-from-home needs, or dedicated hobby areas. Two full bathrooms add convenience for everyday schedules. A full basement provides valuable storage or workspace potential, and the surrounding yard offers room for outdoor enjoyment and seasonal activities. Conveniently located near local parks, shopping, and everyday amenities, this property delivers a balanced blend of comfort, accessibility, and versatility ideal for both residents and investors seeking a dependable Toledo opportunity. Home is being sold As Is.

Key facts

• 4,700 sq ft lot
• Garage
• Built 1923

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $87k.

Deal economics

• At list price, monthly cash flow is $398 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $87k).
• Cap rate 11.8% 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-, schools D-, crime 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.
• Market conditions: Rents rising fast (+6.0%/yr); 92 active listings in the ZIP; 30 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).
• This rent runs 32% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $599 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 $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 24y ago; this cycle's ask has dropped $53k (38%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,667

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
7. 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.
8. 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: 1.58% ✓
• Cap rate: 11.81%
• Cash-on-cash: 19.69%
• DSCR: 1.88
• GRM: 5.3

CMA / ARV

• ARV (median comp): $104,347
• List price: $86,667
• Delta: 26.98%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3809 Homewood Ave	0.35mi	3/2.0 (-1)	1,709 (-0%)	2mo	$86,300	$50	74
4210 Berwick Ave	0.34mi	3/1.5 (-1)	1,658 (-4%)	0mo	$178,000	$107	73
4303 Overland Pkwy	0.24mi	3/1.5 (-1)	1,606 (-6%)	2mo	$180,000	$112	71
4112 Harris St	0.50mi	3/1.5 (-1)	1,728 (+1%)	2mo	$115,500	$67	69
3753 Lockwood Ave	0.52mi	3/1.5 (-1)	1,620 (-6%)	1mo	$162,000	$100	60
4407 N Lockwood Ave	0.50mi	3/1.0 (-1)	1,622 (-6%)	1mo	$160,000	$99	59
4125 N Lockwood Ave	0.38mi	3/1.5 (-1)	1,506 (-12%)	2mo	$109,900	$73	55
4314 N Haven Ave	0.54mi	3/1.0 (-1)	1,564 (-9%)	0mo	$140,500	$90	53
4228 N Lockwood Ave	0.44mi	3/2.0 (-1)	1,493 (-13%)	0mo	$85,000	$57	50
4124 Walker Ave	0.75mi	4/2.5	1,819 (+6%)	1mo	$195,000	$107	50
1532 Gould Rd	0.64mi	4/2.0	1,525 (-11%)	1mo	$172,000	$113	48
3938 Berkeley Dr	0.57mi	3/1.0 (-1)	1,472 (-14%)	1mo	$120,000	$82	42

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: 15.4%
• Equity multiple: 1.65×
• Total profit: $15,666
• Equity at exit: $12,922

10-year hold

• IRR: 26.4%
• Equity multiple: 3.69×
• Total profit: $65,250
• Equity at exit: $7,493

Cash invested: $24,267 (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: 5.3×

Monthly cashflow live

• Estimated rent: $1,370 high
• Mortgage (P&I): −$454
• Tax from tax record: −$193 /mo · $2,317/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $398

Break-even live

Break-even rent $865

Max offer price $86,667

Occupancy floor 66%

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: $21,667
• Closing costs: $2,600
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1477 W Sylvania Ave Toledo, OH	3.0	1.0	1570	$1,250	$0.80	44d	1	0.10mi
4120 Parrakeet Ave Toledo, OH	3.0	2.0	1410	$1,450	$1.03	44d	1	0.10mi
4038 Lyman Ave Toledo, OH	3.0	1.0	1175	$1,395	$1.19	44d	1	0.14mi
4223 Birchall Rd Toledo, OH	3.0	1.0	1338	$1,395	$1.04	23d	1	0.20mi
3915 Willys Pkwy Unit 3915 Toledo, OH	3.0	1.0	1080	$800	$0.74	21d	1	0.29mi
3805 Hoiles Ave Toledo, OH	3.0	1.0	1370	$1,025	$0.75	23d	1	0.30mi
3725 Hoiles Ave Toledo, OH	3.0	1.0	1180	$1,245	$1.06	23d	1	0.32mi
1489 Berdan Ave Toledo, OH	3.0	1.0	1068	$1,250	$1.17	44d	1	0.33mi
3713 Hazelhurst Ave Toledo, OH	3.0	1.5	1352	$1,700	$1.26	44d	1	0.33mi
3606 Revere Dr Toledo, OH	4.0	1.0	1320	$1,500	$1.14	44d	1	0.46mi
3541 Willys Pkwy Toledo, OH	3.0	1.0	1113	$1,400	$1.26	44d	1	0.53mi
4315 Garden Park Dr Toledo, OH	3.0	1.0	1268	$1,423	$1.12	23d	1	0.55mi
4459 N Haven Ave Toledo, OH	3.0	1.0	1416	$1,200	$0.85	14d	1	0.61mi
1014 Berdan Ave Toledo, OH	3.0	1.0	1215	$1,200	$0.99	44d	1	0.62mi
4614 Commonwealth Ave Toledo, OH	3.0	1.5	1459	$1,295	$0.89	14d	1	0.64mi
3615 Berkeley Dr Toledo, OH	3.0	1.0	1096	$1,400	$1.28	14d	1	0.65mi
1731 Mansfield Rd Toledo, OH	3.0	1.0	1138	$1,195	$1.05	23d	1	0.71mi
3683 Upton Ave Toledo, OH	3.0	1.0	1119	$1,100	$0.98	44d	1	0.77mi
4129 Vermaas Ave Toledo, OH	3.0	1.5	1385	$1,250	$0.90	44d	1	0.86mi
4406 Asbury Dr Toledo, OH	4.0	2.0	1089	$1,550	$1.42	14d	1	0.90mi
3905 Peru St Toledo, OH	4.0	3.0	1548	$1,300	$0.84	21d	1	1.00mi
1718 Giant St Toledo, OH	3.0	1.0	1080	$1,395	$1.29	14d	1	1.01mi
4140 Caroline Ave Toledo, OH	3.0	1.5	1378	$1,650	$1.20	23d	1	1.01mi
1573 Jermain Dr Toledo, OH	3.0	1.0	1254	$1,195	$0.95	14d	1	1.15mi
2301 Portsmouth Ave Toledo, OH	4.0	1.0	1335	$1,395	$1.04	23d	1	1.16mi
614 Cadillac Ct Toledo, OH	3.0	1.0	1581	$1,075	$0.68	23d	1	1.27mi
610 Cadillac Ct Toledo, OH	3.0	1.0	1409	$1,050	$0.75	23d	1	1.28mi
1436 Palmetto Ave Toledo, OH	3.0	1.0	1678	$1,400	$0.83	23d	1	1.41mi
2907 Rockwood Pl Toledo, OH	3.0	1.0	1494	$1,100	$0.74	14d	1	1.47mi
3430 Anderson Pkwy Toledo, OH	3.0	2.0	1372	$1,650	$1.20	23d	1	1.47mi

Listing history 28 events

1. 2026-06-18
   days on market $86,667 Active 7 DOM
2. 2026-06-17
   days on market $86,667 Active 6 DOM
3. 2026-06-16
   days on market $86,667 Active 5 DOM
4. 2026-06-15
   days on market $86,667 Active 4 DOM
5. 2026-06-14
   pricedays on marketlisting id $86,667 Active 2 DOM
6. 2026-06-07
   days on market $132,500 Active 170 DOM
7. 2026-06-05
   days on market $132,500 Active 167 DOM
8. 2026-06-03
   days on market $132,500 Active 166 DOM
9. 2026-06-02
   days on market $132,500 Active 165 DOM
10. 2026-06-01
    days on market $132,500 Active 164 DOM
11. 2026-05-31
    days on market $132,500 Active 163 DOM
12. 2026-05-30
    days on market $132,500 Active 162 DOM
13. 2026-04-23
    status Active 859-char remark

    Show marketing remark (859 chars)

    Welcome to 4031 Westway, a comfortable four-bedroom, two-bath home offering a practical layout in a well-established Toledo neighborhood. The main living areas provide flexible space for daily routines, while the kitchen offers functionality for cooking and gathering. With four bedrooms, the home supports a variety of living arrangements, work-from-home needs, or dedicated hobby areas. Two full bathrooms add convenience for everyday schedules. A full basement provides valuable storage or workspace potential, and the surrounding yard offers room for outdoor enjoyment and seasonal activities. Conveniently located near local parks, shopping, and everyday amenities, this property delivers a balanced blend of comfort, accessibility, and versatility ideal for both residents and investors seeking a dependable Toledo opportunity. Home is being sold As Is.

14. 2026-04-14
    historical Contingent 859-char remark

    Show marketing remark (859 chars)

    Welcome to 4031 Westway, a comfortable four-bedroom, two-bath home offering a practical layout in a well-established Toledo neighborhood. The main living areas provide flexible space for daily routines, while the kitchen offers functionality for cooking and gathering. With four bedrooms, the home supports a variety of living arrangements, work-from-home needs, or dedicated hobby areas. Two full bathrooms add convenience for everyday schedules. A full basement provides valuable storage or workspace potential, and the surrounding yard offers room for outdoor enjoyment and seasonal activities. Conveniently located near local parks, shopping, and everyday amenities, this property delivers a balanced blend of comfort, accessibility, and versatility ideal for both residents and investors seeking a dependable Toledo opportunity. Home is being sold As Is.

15. 2026-02-23
    price $134,900 859-char remark

    Show marketing remark (859 chars)

    Welcome to 4031 Westway, a comfortable four-bedroom, two-bath home offering a practical layout in a well-established Toledo neighborhood. The main living areas provide flexible space for daily routines, while the kitchen offers functionality for cooking and gathering. With four bedrooms, the home supports a variety of living arrangements, work-from-home needs, or dedicated hobby areas. Two full bathrooms add convenience for everyday schedules. A full basement provides valuable storage or workspace potential, and the surrounding yard offers room for outdoor enjoyment and seasonal activities. Conveniently located near local parks, shopping, and everyday amenities, this property delivers a balanced blend of comfort, accessibility, and versatility ideal for both residents and investors seeking a dependable Toledo opportunity. Home is being sold As Is.

16. 2025-12-19
    listed $140,000 Active 859-char remark

    Show marketing remark (859 chars)

    Welcome to 4031 Westway, a comfortable four-bedroom, two-bath home offering a practical layout in a well-established Toledo neighborhood. The main living areas provide flexible space for daily routines, while the kitchen offers functionality for cooking and gathering. With four bedrooms, the home supports a variety of living arrangements, work-from-home needs, or dedicated hobby areas. Two full bathrooms add convenience for everyday schedules. A full basement provides valuable storage or workspace potential, and the surrounding yard offers room for outdoor enjoyment and seasonal activities. Conveniently located near local parks, shopping, and everyday amenities, this property delivers a balanced blend of comfort, accessibility, and versatility ideal for both residents and investors seeking a dependable Toledo opportunity. Home is being sold As Is.

17. 2025-12-03
    historical $140,000 859-char remark

    Show marketing remark (859 chars)

    Welcome to 4031 Westway, a comfortable four-bedroom, two-bath home offering a practical layout in a well-established Toledo neighborhood. The main living areas provide flexible space for daily routines, while the kitchen offers functionality for cooking and gathering. With four bedrooms, the home supports a variety of living arrangements, work-from-home needs, or dedicated hobby areas. Two full bathrooms add convenience for everyday schedules. A full basement provides valuable storage or workspace potential, and the surrounding yard offers room for outdoor enjoyment and seasonal activities. Conveniently located near local parks, shopping, and everyday amenities, this property delivers a balanced blend of comfort, accessibility, and versatility ideal for both residents and investors seeking a dependable Toledo opportunity. Home is being sold As Is.

18. 2025-10-14
    price $69,000 262-char remark

    Show marketing remark (262 chars)

    INVEST IN YOUR FUTURE! INSTANT EQUITY W/EXTERIOR PAINT! 1700 SQ FEET! HUGE ROOMS, 4 BEDROOMS (2 UP, 2 DOWN), 2 BATHS, REMODELED KITCHEN, BASEMENT REC ROOM W/BAR, LIVING ROOM FIREPLACE. ROOF (APPROX 7YEARS OLD) GARAGE NEEDS HELP. NONE BETTER FOR THE MONEY. HURRY!

19. 2021-07-16
    soldstatus $122,000
20. 2021-06-02
    price $122,000
21. 2021-03-09
    listed $89,900
22. 2003-03-03
    soldstatus $69,000
23. 2003-02-26
    soldstatus $69,000 262-char remark

    Show marketing remark (262 chars)

    INVEST IN YOUR FUTURE! INSTANT EQUITY W/EXTERIOR PAINT! 1700 SQ FEET! HUGE ROOMS, 4 BEDROOMS (2 UP, 2 DOWN), 2 BATHS, REMODELED KITCHEN, BASEMENT REC ROOM W/BAR, LIVING ROOM FIREPLACE. ROOF (APPROX 7YEARS OLD) GARAGE NEEDS HELP. NONE BETTER FOR THE MONEY. HURRY!

24. 2002-10-01
    listed $71,900 262-char remark

    Show marketing remark (262 chars)

    INVEST IN YOUR FUTURE! INSTANT EQUITY W/EXTERIOR PAINT! 1700 SQ FEET! HUGE ROOMS, 4 BEDROOMS (2 UP, 2 DOWN), 2 BATHS, REMODELED KITCHEN, BASEMENT REC ROOM W/BAR, LIVING ROOM FIREPLACE. ROOF (APPROX 7YEARS OLD) GARAGE NEEDS HELP. NONE BETTER FOR THE MONEY. HURRY!

25. 2002-09-18
    historical
26. 2002-03-18
    listed $82,500
27. 1989-04-05
    soldstatus $30,000
28. 1972-05-30
    soldstatus $26,500

ⓘ 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: $2,317 · $193/mo
• Projected year-2 tax: $2,317 · $193/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 ≥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: $16,435
• − Mortgage interest: −$4,855
• − Property taxes: −$2,317
• − Insurance: −$433
• − Repairs & maintenance: −$1,315
• − Management: −$1,315
• − Depreciation: −$2,521
• Taxable income: $3,679
• Est. tax owed @ 24.0%: −$883
• After-tax cash flow: $3,896/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

+409.1% since first listed

16 events — show timeline

• 2026-04-23 Relisted — NORIS
• 2026-04-14 Contingent — NORIS
• 2026-02-23 Price Changed $134,900 NORIS
• 2025-12-19 Listed $140,000 NORIS
• 2025-12-03 Coming Soon $140,000 NORIS
• 2025-10-14 Price Changed $69,000 NORIS
• 2021-07-16 Sold (MLS) $122,000 NORIS
• 2021-06-02 Price Changed $122,000 NORIS
• 2021-03-09 Listed $89,900 NORIS
• 2003-03-03 Sold (Public Records) $69,000 Public Records
• 2003-02-26 Sold (MLS) $69,000 NORIS
• 2002-10-01 Listed $71,900 NORIS
• 2002-09-18 Listing Removed — NORIS
• 2002-03-18 Listed $82,500 NORIS
• 1989-04-05 Sold (Public Records) $30,000 Public Records
• 1972-05-30 Sold (Public Records) $26,500 Public Records

Property tax history

+4.2%/yr

Latest (2025): $2,317 · +0.1% YoY. Source: county tax records.