1146 Walbridge Ave · Toledo, OH 43609

$69,900

2 bd · 1.0 ba · 990 sqft · SingleFamily public records · 49 Days on market

Built 1900 4,400 sqft lot $71/sqft · 22% above area Est $57k · 22% 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
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Appreciation +5.4/10.0
• Rent growth +4.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Very nice and clean home. 2 car garage with opener and fenced in yard. New Roof, Freshly painted in and out. Ready to move into. 3rd bedroom is in basement.

Key facts

• 4,400 sq ft lot
• 2 garage spots
• Built 1900

Property features AI

Exterior

• Parking: Detached garage; Alley access; On-street parking; Approximately 2 garage parking spaces
• Security: Smoke detectors
• Utilities: Electricity connected (100 amp service, circuit breakers); Natural gas connected; Public water; Public sewer
• Home design: Single-family residence (house); One and one-half levels; No attached units or common walls; Shingle roof
• Construction: Wood siding; Block foundation
• Exterior features: Deck; Front porch; Covered porch; Chain link fencing; Asphalt road frontage

Interior

• Kitchen: Electric oven; Electric range; Range hood; Refrigerator; Electric range connection
• Bedrooms: Primary bedroom (upper level) — approx. 15 x 11; Second bedroom (upper level) — approx. 13 x 11
• Flooring: Luxury vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Has heating
• Interior features: Ceiling fans; Double pane windows with screens; 5 total rooms; Has a block basement
• Laundry & utility: Washer/dryer hookups in basement; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $272 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($924 rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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: Walbridge Elementary School (math 8% / reading 22%, grade F, #1,382 of 1,584 statewide, top 88%, 280 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; 18 comparable units currently listed for rent nearby; rentals lingering (median 44d 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).

Forward outlook

• In year one you build about $1k of equity ($483 loan paydown + $524 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 $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $39k; list at $70k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $67,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.32% ✓
• Cap rate: 10.96%
• Cash-on-cash: 16.67%
• DSCR: 1.74
• GRM: 6.3

CMA / ARV

• ARV (median comp): $57,383
• List price: $69,900
• Delta: 21.81%
• 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
1152 Colton St	0.08mi	3/1.0 (+1)	1,046 (+6%)	1mo	$65,000	$62	81
1402 Prouty Ave	0.40mi	3/1.0 (+1)	1,030 (+4%)	1mo	$50,000	$49	69
624 Carlton St	0.58mi	3/2.0 (+1)	1,013 (+2%)	2mo	$134,888	$133	58
1321 Gordon St	0.21mi	3/1.0 (+1)	1,131 (+14%)	5mo	$70,600	$62	57
1127 Harding Dr	0.44mi	3/1.0 (+1)	1,104 (+12%)	4mo	$22,000	$20	52
648 Carlton St	0.61mi	2/1.0	880 (-11%)	2mo	$86,000	$98	51
1049 King St	0.55mi	2/1.0	1,109 (+12%)	3mo	$29,000	$26	51
109 Wellington St	0.54mi	2/1.0	859 (-13%)	3mo	$4,500	$5	50
502 Brighton Ave	0.67mi	2/1.0	884 (-11%)	1mo	$123,900	$140	50
317 Eldred Ave	0.60mi	3/1.5 (+1)	1,108 (+12%)	1mo	$45,000	$41	44
1574 Colton St	0.61mi	3/1.0 (+1)	1,108 (+12%)	6mo	$115,875	$105	42
511 Congress St	0.71mi	3/1.0 (+1)	1,109 (+12%)	6mo	$55,000	$50	36

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: 21.8%
• Equity multiple: 2.15×
• Total profit: $22,449
• Equity at exit: $22,956

10-year hold

• IRR: 27.9%
• Equity multiple: 4.84×
• Total profit: $75,133
• Equity at exit: $29,816

Cash invested: $19,572 (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: 6.3×

Monthly cashflow live

• Estimated rent: $924 high
• Mortgage (P&I): −$367
• Tax from tax record: −$62 /mo · $748/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $272

Break-even live

Break-even rent $580

Max offer price $69,900

Occupancy floor 66%

Sensitivity live

Price	-10% $311	-5% $292	+0% $272	+5% $252	+10% $232
Rent	-10% $199	-5% $235	+0% $272	+5% $308	+10% $345
Rate	-1.0pp $307	-0.5pp $290	base $272	+0.5pp $254	+1.0pp $235

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	44d	1	0.22mi
1418 Colburn St Toledo, OH	3.0	1.0	992	$1,200	$1.21	14d	1	0.38mi
1037 Orchard St Toledo, OH	2.0	1.0	696	$820	$1.18	21d	1	0.39mi
1521 Emma St Unit LABS 1521 Emma St, B 43051619729 Toledo, OH	1.0	1.0	975	$900	$0.92	44d	1	0.49mi
223 Charles St Toledo, OH	2.0	1.0	612	$875	$1.43	44d	1	0.52mi
827 Colburn St Toledo, OH	2.0	1.0	1092	$750	$0.69	44d	1	0.55mi
538 Nicholas St Unit B Toledo, OH	1.0	1.0	600	$600	$1.00	44d	1	0.59mi
771 Orchard St Unit 7715 Toledo, OH	2.0	1.0	1086	$645	$0.59	24d	1	0.65mi
705 Nicholas St Toledo, OH	2.0	1.0	1037	$900	$0.87	44d	1	0.65mi
707 Toronto Ave Toledo, OH	1.0	1.0	750	$775	$1.03	24d	1	0.95mi
416 Maumee Ave Unit D Toledo, OH	1.0	1.0	622	$475	$0.76	44d	1	0.97mi
2594 Broadway St Toledo, OH	2.0	1.0	1076	$825	$0.77	44d	1	1.00mi
1734 Arlington Ave Toledo, OH	2.0	1.0	700	$800	$1.14	14d	1	1.06mi
244 Knower St Toledo, OH	3.0	1.0	1120	$995	$0.89	14d	1	1.19mi
1785 Tecumseh St Toledo, OH	2.0	1.0	930	$900	$0.97	44d	1	1.20mi
400 Nebraska Ave Toledo, OH	1.0	1.0	664	$1,129	$1.70	14d	1	1.35mi
2044 Arlington Ave Toledo, OH	2.0	1.0	800	$825	$1.03	21d	1	1.42mi
307 Danberry St Toledo, OH	2.0	1.0	988	$950	$0.96	44d	1	1.43mi

Listing history 25 events

1. 2026-06-18
   days on market $69,900 Active 49 DOM
2. 2026-06-17
   days on market $69,900 Active 48 DOM
3. 2026-06-16
   days on market $69,900 Active 47 DOM
4. 2026-06-15
   days on market $69,900 Active 46 DOM
5. 2026-06-14
   pricedays on market $69,900 Active 44 DOM
6. 2026-06-10
   days on market $74,900 Active 41 DOM
7. 2026-06-09
   days on market $74,900 Active 40 DOM
8. 2026-06-08
   days on market $74,900 Active 39 DOM
9. 2026-06-07
   days on market $74,900 Active 38 DOM
10. 2026-06-05
    days on market $74,900 Active 35 DOM
11. 2026-06-03
    days on market $74,900 Active 34 DOM

    Show marketing remark (156 chars)

    Very nice and clean home. 2 car garage with opener and fenced in yard. New Roof, Freshly painted in and out. Ready to move into. 3rd bedroom is in basement.

12. 2026-06-02
    days on market $74,900 Active 33 DOM
13. 2026-06-01
    days on market $74,900 Active 32 DOM
14. 2026-05-31
    days on market $74,900 Active 31 DOM
15. 2026-05-30
    days on market $74,900 Active 30 DOM
16. 2026-04-30
    listed $74,900 Active 344-char remark
17. 2016-09-11
    historical
18. 2016-07-11
    listed $14,500
19. 2016-07-01
    historical
20. 2016-01-22
    listed $15,000
21. 2005-07-18
    soldstatus $39,037

    Show marketing remark (156 chars)

    Very nice and clean home. 2 car garage with opener and fenced in yard. New Roof, Freshly painted in and out. Ready to move into. 3rd bedroom is in basement.

22. 2005-07-18
    soldstatus $39,037

    Show marketing remark (156 chars)

    Very nice and clean home. 2 car garage with opener and fenced in yard. New Roof, Freshly painted in and out. Ready to move into. 3rd bedroom is in basement.

23. 2005-06-15
    price $39,037

    Show marketing remark (156 chars)

    Very nice and clean home. 2 car garage with opener and fenced in yard. New Roof, Freshly painted in and out. Ready to move into. 3rd bedroom is in basement.

24. 2005-06-02
    listed $37,900

    Show marketing remark (156 chars)

    Very nice and clean home. 2 car garage with opener and fenced in yard. New Roof, Freshly painted in and out. Ready to move into. 3rd bedroom is in basement.

25. 1993-08-27
    soldstatus $23,500

ⓘ 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: $748 · $62/mo
• Projected year-2 tax: $919 · $77/mo
• Expected delta: +$171/yr (+$14/mo · 22.8%)

ⓘ 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: $11,088
• − Mortgage interest: −$3,915
• − Property taxes: −$748
• − Insurance: −$350
• − Repairs & maintenance: −$887
• − Management: −$887
• − Depreciation: −$2,033
• Taxable income: $2,267
• Est. tax owed @ 24.0%: −$544
• After-tax cash flow: $2,719/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

+197.4% since first listed

12 events — show timeline

• 2026-06-12 Price Changed $69,900 NORIS
• 2026-06-03 Price Changed $37,900 NORIS
• 2026-04-30 Listed $74,900 NORIS
• 2016-09-11 Listing Removed — NORIS
• 2016-07-11 Listed $14,500 NORIS
• 2016-07-01 Listing Removed — NORIS
• 2016-01-22 Listed $15,000 NORIS
• 2005-07-18 Sold (Public Records) $39,037 Public Records
• 2005-07-18 Sold (MLS) $39,037 NORIS
• 2005-06-15 Price Changed $39,037 NORIS
• 2005-06-02 Listed $37,900 NORIS
• 1993-08-27 Sold (Public Records) $23,500 Public Records

Property tax history

+2.6%/yr

Latest (2025): $748 · +2.1% YoY. Source: county tax records.