1483 Sterns Rd · Toledo, OH 48133

$45,000

1 bd · 1.0 ba · 680 sqft · SingleFamily · 33 Days on market

Built 1900 0.97 ac lot Est $47k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.3/15.0
• Schools +3.8/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Situated on an expansive 1 acre lot, this property presents an exceptional opportunity for those with a vision. Home offers an open concept, kitchen, bathroom, and laundry area. Home has a forced air furnace and a wood stove, which may be used as an alternative heat source. There is also a 2 car detached garage to house your vehicles and toys! This is a Fannie Mae HomePath Property. First Time Buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

Key facts

• Wood stove
• Open concept
• Expansive 1 acre lot

Tags

• EXPANSIVE 1 ACRE LOT
• OPEN CONCEPT
• FORCED AIR FURNACE
• WOOD STOVE
• DETACHED GARAGE

Property features AI

Finance

• Other: No other financial or investor-specific details provided
• Financial info: No additional financial details provided
• HOA & community: Homeowners association present

Exterior

• Parking: Detached 2-car garage
• Security: No security features provided
• Utilities: Public water; Septic tank sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Slab foundation
• Exterior features: Paved road access; Lot approximately 0.97 acres (59 x 720); Residential zoning

Interior

• Kitchen: Gas water heater (serves kitchen/household)
• Bedrooms: 3 total rooms (includes bedrooms and living spaces)
• Flooring: No flooring information provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; Wood stove supplemental heating; No central cooling
• Interior features: Wood-burning stove fireplace; Gas water heater
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $615 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 22.7% 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.
• Mason Consolidated Schools (Monroe) (rural): math 38% / reading 49% proficiency, ranked #155 of 540 in MI (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 264 units permitted in Monroe County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Monroe County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% 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 33 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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.

Risks & watch-outs

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

Recommended offer $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 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: 2.58% ✓
• Cap rate: 22.68%
• Cash-on-cash: 58.53%
• DSCR: 3.60
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $46,920
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1483 Sterns Rd	0.00mi	1/1.0	680 (0%)	1mo	$45,000	$66	99
965 Streetman St	0.70mi	1/1.0	780 (+15%)	3mo	$116,000	$149	40
1270 Watson St	0.59mi	2/1.0 (+1)	768 (+13%)	8mo	$53,000	$69	39

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 57.1%
• Equity multiple: 3.53×
• Total profit: $31,862
• Equity at exit: $6,710

10-year hold

• IRR: 62.0%
• Equity multiple: 7.21×
• Total profit: $78,195
• Equity at exit: $3,891

Cash invested: $12,600 (down + closing). Projections, not guarantees.

Monthly cashflow live

• Estimated rent: $1,160 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$47 /mo · $562/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $615

Break-even live

Break-even rent $382

Max offer price $45,000

Occupancy floor 42%

Sensitivity live

Price	-10% $640	-5% $627	+0% $615	+5% $602	+10% $589
Rent	-10% $523	-5% $569	+0% $615	+5% $660	+10% $706
Rate	-1.0pp $637	-0.5pp $626	base $615	+0.5pp $603	+1.0pp $591

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-05-04
   status Pending

   Show marketing remark (595 chars)

   Situated on an expansive 1 acre lot, this property presents an exceptional opportunity for those with a vision. Home offers an open concept, kitchen, bathroom, and laundry area. Home has a forced air furnace and a wood stove, which may be used as an alternative heat source. There is also a 2 car detached garage to house your vehicles and toys! This is a Fannie Mae HomePath Property. First Time Buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

2. 2026-05-04
   status Pending 595-char remark

   Show marketing remark (595 chars)

   Situated on an expansive 1 acre lot, this property presents an exceptional opportunity for those with a vision. Home offers an open concept, kitchen, bathroom, and laundry area. Home has a forced air furnace and a wood stove, which may be used as an alternative heat source. There is also a 2 car detached garage to house your vehicles and toys! This is a Fannie Mae HomePath Property. First Time Buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

3. 2026-03-31
   listed $45,000 Active

   Show marketing remark (595 chars)

   Situated on an expansive 1 acre lot, this property presents an exceptional opportunity for those with a vision. Home offers an open concept, kitchen, bathroom, and laundry area. Home has a forced air furnace and a wood stove, which may be used as an alternative heat source. There is also a 2 car detached garage to house your vehicles and toys! This is a Fannie Mae HomePath Property. First Time Buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

4. 2026-03-31
   listed $45,000 Active 595-char remark

   Show marketing remark (595 chars)

   Situated on an expansive 1 acre lot, this property presents an exceptional opportunity for those with a vision. Home offers an open concept, kitchen, bathroom, and laundry area. Home has a forced air furnace and a wood stove, which may be used as an alternative heat source. There is also a 2 car detached garage to house your vehicles and toys! This is a Fannie Mae HomePath Property. First Time Buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

5. 2024-03-13
   soldstatus $90,000
6. 2024-03-11
   soldstatus $90,000 Sold 771-char remark

   Show marketing remark (771 chars)

   Discover the untapped potential of 1483 Sterns Rd in Erie, MI "“ a charming 2-bed home nestled on an expansive acre lot, offering a rare opportunity for country living at a great price. Priced to reflect its condition, this property presents an exceptional opportunity for those with a vision. Updates over the years include newer windows, an approximately 10-year-old roof, water heater replaced in 2014, and an approximately 10-year-old furnace. Outdoors, the acre lot provides the canvas for your dreams, with room to build an outbuilding and create your private haven. A shed in the back enhances the property's functionality. Seize the opportunity to shape this home and land into your unique haven. Schedule a showing today and explore the possibilities!

7. 2024-03-11
   soldstatus $90,000 Closed

   Show marketing remark (771 chars)

   Discover the untapped potential of 1483 Sterns Rd in Erie, MI "“ a charming 2-bed home nestled on an expansive acre lot, offering a rare opportunity for country living at a great price. Priced to reflect its condition, this property presents an exceptional opportunity for those with a vision. Updates over the years include newer windows, an approximately 10-year-old roof, water heater replaced in 2014, and an approximately 10-year-old furnace. Outdoors, the acre lot provides the canvas for your dreams, with room to build an outbuilding and create your private haven. A shed in the back enhances the property's functionality. Seize the opportunity to shape this home and land into your unique haven. Schedule a showing today and explore the possibilities!

8. 2024-02-04
   status Pending 771-char remark

   Show marketing remark (771 chars)

   Discover the untapped potential of 1483 Sterns Rd in Erie, MI "“ a charming 2-bed home nestled on an expansive acre lot, offering a rare opportunity for country living at a great price. Priced to reflect its condition, this property presents an exceptional opportunity for those with a vision. Updates over the years include newer windows, an approximately 10-year-old roof, water heater replaced in 2014, and an approximately 10-year-old furnace. Outdoors, the acre lot provides the canvas for your dreams, with room to build an outbuilding and create your private haven. A shed in the back enhances the property's functionality. Seize the opportunity to shape this home and land into your unique haven. Schedule a showing today and explore the possibilities!

9. 2024-02-04
   status Pending

   Show marketing remark (771 chars)

   Discover the untapped potential of 1483 Sterns Rd in Erie, MI "“ a charming 2-bed home nestled on an expansive acre lot, offering a rare opportunity for country living at a great price. Priced to reflect its condition, this property presents an exceptional opportunity for those with a vision. Updates over the years include newer windows, an approximately 10-year-old roof, water heater replaced in 2014, and an approximately 10-year-old furnace. Outdoors, the acre lot provides the canvas for your dreams, with room to build an outbuilding and create your private haven. A shed in the back enhances the property's functionality. Seize the opportunity to shape this home and land into your unique haven. Schedule a showing today and explore the possibilities!

10. 2024-01-30
    price $100,000

    Show marketing remark (771 chars)

    Discover the untapped potential of 1483 Sterns Rd in Erie, MI "“ a charming 2-bed home nestled on an expansive acre lot, offering a rare opportunity for country living at a great price. Priced to reflect its condition, this property presents an exceptional opportunity for those with a vision. Updates over the years include newer windows, an approximately 10-year-old roof, water heater replaced in 2014, and an approximately 10-year-old furnace. Outdoors, the acre lot provides the canvas for your dreams, with room to build an outbuilding and create your private haven. A shed in the back enhances the property's functionality. Seize the opportunity to shape this home and land into your unique haven. Schedule a showing today and explore the possibilities!

11. 2024-01-30
    price $100,000 771-char remark

    Show marketing remark (771 chars)

    Discover the untapped potential of 1483 Sterns Rd in Erie, MI "“ a charming 2-bed home nestled on an expansive acre lot, offering a rare opportunity for country living at a great price. Priced to reflect its condition, this property presents an exceptional opportunity for those with a vision. Updates over the years include newer windows, an approximately 10-year-old roof, water heater replaced in 2014, and an approximately 10-year-old furnace. Outdoors, the acre lot provides the canvas for your dreams, with room to build an outbuilding and create your private haven. A shed in the back enhances the property's functionality. Seize the opportunity to shape this home and land into your unique haven. Schedule a showing today and explore the possibilities!

12. 2024-01-19
    price $105,000
13. 2024-01-18
    price $105,000 771-char remark

    Show marketing remark (771 chars)

    Discover the untapped potential of 1483 Sterns Rd in Erie, MI "“ a charming 2-bed home nestled on an expansive acre lot, offering a rare opportunity for country living at a great price. Priced to reflect its condition, this property presents an exceptional opportunity for those with a vision. Updates over the years include newer windows, an approximately 10-year-old roof, water heater replaced in 2014, and an approximately 10-year-old furnace. Outdoors, the acre lot provides the canvas for your dreams, with room to build an outbuilding and create your private haven. A shed in the back enhances the property's functionality. Seize the opportunity to shape this home and land into your unique haven. Schedule a showing today and explore the possibilities!

14. 2023-12-28
    price $110,000
15. 2023-12-27
    price $110,000 771-char remark

    Show marketing remark (771 chars)

    Discover the untapped potential of 1483 Sterns Rd in Erie, MI "“ a charming 2-bed home nestled on an expansive acre lot, offering a rare opportunity for country living at a great price. Priced to reflect its condition, this property presents an exceptional opportunity for those with a vision. Updates over the years include newer windows, an approximately 10-year-old roof, water heater replaced in 2014, and an approximately 10-year-old furnace. Outdoors, the acre lot provides the canvas for your dreams, with room to build an outbuilding and create your private haven. A shed in the back enhances the property's functionality. Seize the opportunity to shape this home and land into your unique haven. Schedule a showing today and explore the possibilities!

16. 2023-12-16
    listed $115,000 Active 771-char remark

    Show marketing remark (771 chars)

    Discover the untapped potential of 1483 Sterns Rd in Erie, MI "“ a charming 2-bed home nestled on an expansive acre lot, offering a rare opportunity for country living at a great price. Priced to reflect its condition, this property presents an exceptional opportunity for those with a vision. Updates over the years include newer windows, an approximately 10-year-old roof, water heater replaced in 2014, and an approximately 10-year-old furnace. Outdoors, the acre lot provides the canvas for your dreams, with room to build an outbuilding and create your private haven. A shed in the back enhances the property's functionality. Seize the opportunity to shape this home and land into your unique haven. Schedule a showing today and explore the possibilities!

17. 2023-12-16
    listed $115,000 Active

    Show marketing remark (771 chars)

    Discover the untapped potential of 1483 Sterns Rd in Erie, MI "“ a charming 2-bed home nestled on an expansive acre lot, offering a rare opportunity for country living at a great price. Priced to reflect its condition, this property presents an exceptional opportunity for those with a vision. Updates over the years include newer windows, an approximately 10-year-old roof, water heater replaced in 2014, and an approximately 10-year-old furnace. Outdoors, the acre lot provides the canvas for your dreams, with room to build an outbuilding and create your private haven. A shed in the back enhances the property's functionality. Seize the opportunity to shape this home and land into your unique haven. Schedule a showing today and explore the possibilities!

18. 1987-04-10
    soldstatus $20,000

ⓘ 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: $562 · $47/mo
• Projected year-2 tax: $632 · $53/mo
• Expected delta: +$70/yr (+$6/mo · 12.5%)

ⓘ 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 ≥99°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: $13,915
• − Mortgage interest: −$2,521
• − Property taxes: −$562
• − Insurance: −$225
• − Repairs & maintenance: −$1,113
• − Management: −$1,113
• − Depreciation: −$1,309
• Taxable income: $7,073
• Est. tax owed @ 24.0%: −$1,697
• After-tax cash flow: $5,677/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: Mason Consolidated Schools (Monroe)
• NCES district ID: 2623100
• Math proficiency: 38% ▼ -13.00%
• Reading proficiency: 49% ▼ -8.00%
• Median HH income: $53,798
• Composite: 37.72/100
• National rank: #4355
• State rank: #155 of 540 in MI

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

• County: Monroe · 13,010 people
• City population: 280,811
• Metro: Monroe, MI
• Population (ZIP): 6,711
• Household income: $65,867
• Rent vs Own: 8.5% rent · 91.5% own
• Severe rent burden: 33.5

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 144,439 people
• By 2030: 140,033 · -3.1%
• By 2040: 128,408 · -11.1%
• By 2050: 115,024 · -20.4%
• By 2075: 87,273 · -39.6%
• By 2100: 63,110 · -56.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 11% Romanian 9% Slovak 2%
• Foreign-born: 0%

Political lean MEDSL · Monroe

• 2024 margin: Strong R (+27.1) · D 35.7% · R 62.9% · Other 1.4%
• 2008→2024 swing: -31.5pp toward R · 2008: 4.3pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+22.6 2016: R+22.1 2012: D+1.0 2008: D+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -126.33%
• Current HPI: 152.4502
• Rent YoY: —
• Metro: —
• 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

+125.0% since first listed

18 events — show timeline

• 2026-05-04 Pending — REALCOMP
• 2026-05-04 Pending — MiRealSource-MiMLS
• 2026-03-31 Listed $45,000 MiRealSource-MiMLS
• 2026-03-31 Listed $45,000 REALCOMP
• 2024-03-13 Sold (Public Records) $90,000 Public Records
• 2024-03-11 Sold (MLS) $90,000 MiRealSource-MiMLS
• 2024-03-11 Sold (MLS) $90,000 REALCOMP
• 2024-02-04 Pending — REALCOMP
• 2024-02-04 Pending — MiRealSource-MiMLS
• 2024-01-30 Price Changed $100,000 MiRealSource-MiMLS
• 2024-01-30 Price Changed $100,000 REALCOMP
• 2024-01-19 Price Changed $105,000 MiRealSource-MiMLS
• 2024-01-18 Price Changed $105,000 REALCOMP
• 2023-12-28 Price Changed $110,000 MiRealSource-MiMLS
• 2023-12-27 Price Changed $110,000 REALCOMP
• 2023-12-16 Listed $115,000 MiRealSource-MiMLS
• 2023-12-16 Listed $115,000 REALCOMP
• 1987-04-10 Sold (Public Records) $20,000 Public Records

Property tax history

-4.9%/yr

Latest (2025): $562 · -55.7% YoY. Source: county tax records.