1110 Pinewood Ave · Toledo, OH 43607

$48,000

3 bd · 2.0 ba · 1,602 sqft · SingleFamily public records · 66 Days on market

Built 1914 3,800 sqft lot $30/sqft · 8% below area Est $52k · 8% 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 +11.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

Nestled in a quiet, established pocket of Toledo, you are minutes away from the University of Toledo, Promedica Toledo Hospital, and the vibrant Downtown area. Perfect for First-time homebuyers looking for a "forever home" layout or savvy investors seeking a 4 bedroom rental with steady income and a 20 year lead safe certificate.

Key facts

• 3,800 sq ft lot
• Built 1914
• Listed 66 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $675 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).
• Recommended offer: $45k (6.0% below list) — sets the bar for market timing.
• Cap rate 23.2% 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-, 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 (+8.2%/yr); 83 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% 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 37% 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 $332 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y 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 $12k; list at $48k implies a 317% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $45,120 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.67% ✓
• Cap rate: 23.16%
• Cash-on-cash: 60.24%
• DSCR: 3.68
• GRM: 3.1

CMA / ARV

• ARV (median comp): $52,305
• List price: $48,000
• Delta: -8.23%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1264 Fernwood Ave	0.35mi	4/1.0 (+1)	1,614 (+1%)	2mo	$125,000	$77	72
929 Norwood Ave	0.37mi	3/2.0	1,451 (-9%)	4mo	$80,000	$55	64
927 Norwood Ave	0.37mi	3/2.0	1,439 (-10%)	4mo	$70,000	$49	62
916 Fernwood Ave	0.35mi	3/2.5	1,394 (-13%)	2mo	$150,000	$108	58
1434 Nebraska Ave	0.57mi	3/1.0	1,666 (+4%)	6mo	$50,000	$30	58
834 N Detroit Ave	0.53mi	4/1.0 (+1)	1,552 (-3%)	5mo	$35,000	$23	57
820 N Miller St	0.34mi	4/1.5 (+1)	1,428 (-11%)	3mo	$50,000	$35	56
1109 City Park Park	0.64mi	4/2.0 (+1)	1,531 (-4%)	6mo	$4,500	$3	52
947 Vance St	0.35mi	2/1.0 (-1)	1,826 (+14%)	6mo	$9,900	$5	46
1311 Fitchland Ave	0.68mi	4/2.0 (+1)	1,480 (-8%)	9mo	$127,500	$86	43
619 Pinewood Ave	0.61mi	4/1.5 (+1)	1,444 (-10%)	6mo	$65,000	$45	43
1527 Tecumseh St	0.72mi	4/1.5 (+1)	1,510 (-6%)	9mo	$28,500	$19	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 64.6%
• Equity multiple: 4.12×
• Total profit: $41,980
• Equity at exit: $7,157

10-year hold

• IRR: 70.6%
• Equity multiple: 10.13×
• Total profit: $122,759
• Equity at exit: $4,150

Cash invested: $13,440 (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: 3.1×

Monthly cashflow live

• Estimated rent: $1,280 high
• Mortgage (P&I): −$252
• Tax from tax record: −$64 /mo · $773/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $675

Break-even live

Break-even rent $425

Max offer price $48,000

Occupancy floor 42%

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: $12,000
• Closing costs: $1,440
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1122 Pinewood Ave Toledo, OH	3.0	1.0	1559	$1,150	$0.74	13d	1	0.04mi
1140 Palmwood Ave Toledo, OH	3.0	1.0	1292	$1,500	$1.16	43d	1	0.21mi
1026 Oakwood Ave Toledo, OH	2.0	1.0	1100	$850	$0.77	43d	1	0.42mi
319 N Detroit Ave Toledo, OH	3.0	1.0	1341	$845	$0.63	43d	1	0.88mi
2117 Clinton St Toledo, OH	3.0	1.0	1256	$1,115	$0.89	43d	1	1.06mi
915 Woodstock Ave Toledo, OH	3.0	1.5	1500	$1,100	$0.73	23d	1	1.18mi
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	43d	1	1.21mi
1021 Walbridge Ave Toledo, OH	3.0	1.0	1592	$975	$0.61	43d	1	1.31mi
2447 Maplewood Ave Toledo, OH	2.0	1.0	1538	$897	$0.58	43d	1	1.32mi
960 W Delaware Ave Toledo, OH	3.0	1.0	1224	$1,050	$0.86	23d	1	1.40mi
322 14th St Apt 203 Toledo, OH	3.0	1.5	1065	$1,000	$0.94	13d	1	1.43mi

Listing history 9 events

1. 2026-06-01
   days on market $48,000 Active 66 DOM
2. 2026-05-31
   days on market $48,000 Active 65 DOM
3. 2026-05-30
   days on market $48,000 Active 64 DOM
4. 2026-05-13
   status Active 341-char remark

   Show marketing remark (341 chars)

   Nestled in a quiet, established pocket of Toledo, you are minutes away from the University of Toledo, Promedica Toledo Hospital, and the vibrant Downtown area. Perfect for First-time homebuyers looking for a "forever home" layout or savvy investors seeking a 4 bedroom rental with steady income and a 20 year lead safe certificate.

5. 2026-04-15
   historical Contingent 341-char remark

   Show marketing remark (341 chars)

   Nestled in a quiet, established pocket of Toledo, you are minutes away from the University of Toledo, Promedica Toledo Hospital, and the vibrant Downtown area. Perfect for First-time homebuyers looking for a "forever home" layout or savvy investors seeking a 4 bedroom rental with steady income and a 20 year lead safe certificate.

6. 2026-03-27
   listed $48,000 Active 341-char remark

   Show marketing remark (341 chars)

   Nestled in a quiet, established pocket of Toledo, you are minutes away from the University of Toledo, Promedica Toledo Hospital, and the vibrant Downtown area. Perfect for First-time homebuyers looking for a "forever home" layout or savvy investors seeking a 4 bedroom rental with steady income and a 20 year lead safe certificate.

7. 2025-10-14
   price $11,500 262-char remark

   Show marketing remark (262 chars)

   GREAT BUY FOR THIS 1.5 STY ALUM SIDED HOME W/4 BEDROOMS 2 BATHS. NEEDS SOME UPDATES AND REPAIRS. GOOD VALUE W/YOUR IMPROVEMENTS. FANNIE MAE OWNED SOLD AS-IS. BUYER TO PAY FOR TITLE WORK AND CONVEYANCE FEE. RAX OFFERS WITH PRE-APPROVAL RO VERIFICATION OF FUNDS.

8. 2005-03-10
   soldstatus $11,500 262-char remark

   Show marketing remark (262 chars)

   GREAT BUY FOR THIS 1.5 STY ALUM SIDED HOME W/4 BEDROOMS 2 BATHS. NEEDS SOME UPDATES AND REPAIRS. GOOD VALUE W/YOUR IMPROVEMENTS. FANNIE MAE OWNED SOLD AS-IS. BUYER TO PAY FOR TITLE WORK AND CONVEYANCE FEE. RAX OFFERS WITH PRE-APPROVAL RO VERIFICATION OF FUNDS.

9. 2005-01-24
   listed $14,900 262-char remark

   Show marketing remark (262 chars)

   GREAT BUY FOR THIS 1.5 STY ALUM SIDED HOME W/4 BEDROOMS 2 BATHS. NEEDS SOME UPDATES AND REPAIRS. GOOD VALUE W/YOUR IMPROVEMENTS. FANNIE MAE OWNED SOLD AS-IS. BUYER TO PAY FOR TITLE WORK AND CONVEYANCE FEE. RAX OFFERS WITH PRE-APPROVAL RO VERIFICATION OF FUNDS.

ⓘ 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: $773 · $64/mo
• Projected year-2 tax: $773 · $64/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: $15,355
• − Mortgage interest: −$2,689
• − Property taxes: −$773
• − Insurance: −$240
• − Repairs & maintenance: −$1,228
• − Management: −$1,228
• − Depreciation: −$1,396
• Taxable income: $7,800
• Est. tax owed @ 24.0%: −$1,872
• After-tax cash flow: $6,225/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

+222.1% since first listed

6 events — show timeline

• 2026-05-13 Relisted — NORIS
• 2026-04-15 Contingent — NORIS
• 2026-03-27 Listed $48,000 NORIS
• 2025-10-14 Price Changed $11,500 NORIS
• 2005-03-10 Sold (MLS) $11,500 NORIS
• 2005-01-24 Listed $14,900 NORIS

Property tax history

+1.7%/yr

Latest (2025): $773 · +3.8% YoY. Source: county tax records.