1209 Waverly Ave · Toledo, OH 43607

$12,000

3 bd · 1.5 ba · 1,196 sqft · SingleFamily public records · 23 Days on market

Built 1912 3,300 sqft lot ↓ 46% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Lucas County Land Bank home in need of repairs and renovations! Property features 2 bedrooms and 1 bath. Large living and dining room space. Front porch and decent sized yard. Major Systems in Need of Repair/Replacement - Furnace, Water Heater/Plumbing, Electrical. Close proximity to downtown and University of Toledo.

Key facts

• Decent sized yard
• Front porch
• 3,300 sq ft lot

Tags

• FRONT PORCH
• DECENT SIZED YARD
• CLOSE PROXIMITY TO DOWNTOWN

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Single-family residence; Two levels (2-story); Not attached to other units; No common walls
• Construction: Combination foundation; Other construction materials
• Exterior features: Front porch; Shingle roof

Interior

• Kitchen: Kitchen on main level (approx. 17' x 11')
• Bedrooms: Second bedroom on upper level (approx. 11' x 11'); Additional upstairs room (approx. 14' x 12')
• Flooring: Laminate flooring; Wood flooring
• Bathrooms: One full bathroom
• Heating & cooling: Forced-air heating
• Interior features: Five total rooms; Other interior features; Full basement
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $12k.

Deal economics

• At list price, monthly cash flow is $839 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $12k).
• Recommended offer: $12k (1.5% below list) — sets the bar for market timing.
• Cap rate 90.2% 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: Robinson Elementary School (math 2% / reading 2%, grade F, #1,580 of 1,584 statewide, top 100%, 358 students, 0% FRL); Jesup W. Scott High School (math 8% / reading 17%, grade F, #726 of 781 statewide, top 94%, 736 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.
• Zoned-school proficiency averages 7% at this address vs 20% district-wide (-12 pts) — the specific schools serving this property underperform the Toledo City average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+8.2%/yr); 83 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 79% 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 34% of the median local income ($41k/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 $83 of loan paydown is wiped out by about $360 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 + 8.0% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($12k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 27y ago; this cycle's ask has dropped $3k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $11,820 (1.5% below list)

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. 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?
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: 9.73% ✓
• Cap rate: 90.20%
• Cash-on-cash: 299.67%
• DSCR: 14.33
• GRM: 0.9

CMA / ARV

• ARV (on-the-fly): $90,896
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1211 Woodstock Ave	0.11mi	3/1.0	1,188 (-1%)	2mo	$101,500	$85	90
1004 Waverly Ave	0.11mi	3/1.0	1,241 (+4%)	2mo	$58,500	$47	85
742 Marmion Ave	0.27mi	3/1.5	1,202 (+0%)	4mo	$95,000	$79	83
1211 Manila St	0.17mi	3/1.0	1,159 (-3%)	3mo	$45,000	$39	82
1019 Woodstock Ave	0.15mi	3/1.0	1,272 (+6%)	2mo	$21,100	$17	79
2033 Crosswell Pl	0.12mi	3/1.0	1,328 (+11%)	1mo	$101,500	$76	73
1723 Evansdale Ave	0.60mi	3/1.0	1,160 (-3%)	2mo	$144,000	$124	63
1408 Roosevelt Ave	0.70mi	3/1.0	1,196 (0%)	3mo	$50,000	$42	62
1501 Fernwood Ave	0.60mi	3/1.0	1,259 (+5%)	1mo	$60,000	$48	60
1814 Alvin St	0.70mi	3/1.0	1,126 (-6%)	3mo	$109,900	$98	53
1742 Wyndhurst Rd	0.73mi	3/1.0	1,107 (-7%)	5mo	$66,000	$60	47
1730 Alvin St	0.68mi	4/1.5 (+1)	1,362 (+14%)	5mo	$110,000	$81	36

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 18.17×
• Total profit: $57,683
• Equity at exit: $1,789

10-year hold

• IRR: —
• Equity multiple: 44.81×
• Total profit: $147,189
• Equity at exit: $1,038

Cash invested: $3,360 (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 43607

• Home prices YoY: -27.5%
• Rents YoY: 8.2%
• Active inventory: 83
• Price-to-rent: 0.9×

Monthly cashflow live

• Estimated rent: $1,167 high
• Mortgage (P&I): −$63
• Tax est. 1.5%: −$15 /mo · $180/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $839

Break-even live

Break-even rent $105

Max offer price $12,000

Occupancy floor 23%

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: $3,000
• Closing costs: $360
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
915 Woodstock Ave Toledo, OH	3.0	1.5	1500	$1,100	$0.73	23d	1	0.18mi
1133 Parkside Blvd Toledo, OH	2.0	1.0	960	$850	$0.89	43d	1	0.24mi
1785 Tecumseh St Toledo, OH	2.0	1.0	930	$900	$0.97	43d	1	0.57mi
319 N Detroit Ave Toledo, OH	3.0	1.0	1341	$845	$0.63	43d	1	0.68mi
2117 Clinton St Toledo, OH	3.0	1.0	1256	$1,115	$0.89	43d	1	0.78mi
2037 Alvin St Toledo, OH	3.0	1.0	1260	$1,175	$0.93	43d	1	0.84mi
2030 Wyndhurst Rd Toledo, OH	2.0	1.0	1042	$950	$0.91	43d	1	0.85mi
2637 Greenway St Toledo, OH	2.0	1.0	1082	$900	$0.83	43d	1	0.99mi
2535 W Bancroft St Unit 8 Toledo, OH	2.0	1.0	900	$895	$0.99	43d	1	1.02mi
1140 Palmwood Ave Toledo, OH	3.0	1.0	1292	$1,500	$1.16	43d	1	1.04mi
2322 Upton Ave Toledo, OH	3.0	1.0	1000	$1,300	$1.30	43d	1	1.06mi
1738 Milburn Ave Toledo, OH	2.0	1.0	1016	$650	$0.64	23d	1	1.07mi
932 Turner Ave Toledo, OH	2.0	1.0	960	$1,295	$1.35	14d	1	1.08mi
2356 Torrey Hill Dr Unit 11 Toledo, OH	2.0	1.0	1050	$800	$0.76	43d	1	1.12mi
2347 Rosedale Ave Toledo, OH	2.0	1.0	767	$875	$1.14	43d	1	1.12mi
1919 Ottawa Dr Unit 7 Toledo, OH	2.0	1.0	900	$800	$0.89	43d	1	1.12mi
1026 Oakwood Ave Toledo, OH	2.0	1.0	1100	$850	$0.77	43d	1	1.27mi
2314 Airline Ave Toledo, OH	3.0	1.0	1123	$1,478	$1.32	23d	1	1.27mi
307 Danberry St Toledo, OH	2.0	1.0	988	$950	$0.96	43d	1	1.27mi

Listing history 18 events

1. 2026-06-18
   days on market $12,000 Active 23 DOM
2. 2026-06-17
   days on market $12,000 Active 22 DOM
3. 2026-06-16
   days on market $12,000 Active 21 DOM
4. 2026-06-15
   days on market $12,000 Active 20 DOM
5. 2026-06-14
   pricedays on market $12,000 Active 18 DOM
6. 2026-06-10
   days on market $15,000 Active 15 DOM
7. 2026-06-09
   days on market $15,000 Active 14 DOM
8. 2026-06-08
   days on market $15,000 Active 13 DOM
9. 2026-06-07
   days on market $15,000 Active 12 DOM
10. 2026-06-05
    days on market $15,000 Active 9 DOM
11. 2026-06-03
    days on market $15,000 Active 8 DOM
12. 2026-06-02
    days on market $15,000 Active 7 DOM
13. 2026-06-01
    days on market $15,000 Active 6 DOM
14. 2026-05-31
    days on market $15,000 Active 5 DOM
15. 2026-05-30
    days on market $15,000 Active 4 DOM
16. 2026-05-26
    listed $15,000 Active
17. 2000-05-25
    historical
18. 1999-07-12
    listed $27,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $14,005
• − Mortgage interest: −$672
• − Property taxes: −$180
• − Insurance: −$60
• − Repairs & maintenance: −$1,120
• − Management: −$1,120
• − Depreciation: −$349
• Taxable income: $10,503
• Est. tax owed @ 24.0%: −$2,521
• After-tax cash flow: $7,548/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): 19,469
• Household income: $41,335
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 1157.0

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 0.57)
• Race & ethnicity: Black 59% White 27% Two or more races 6% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Other Indo-European 1% Spanish 1% Russian/Polish/Slavic 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: ▼ -66.58%
• Current HPI: 175.2772
• Rent YoY: ▲ 8.19%
• 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

-46.2% since first listed

3 events — show timeline

• 2026-05-26 Listed $15,000 NORIS
• 2000-05-25 Listing Removed — NORIS
• 1999-07-12 Listed $27,900 NORIS

Property tax history

+2.8%/yr

Latest (2025): $796 · +2.0% YoY. Source: county tax records.