5909 Merle St · Toledo, OH 43623

$60,000

4 bd · 1.5 ba · 1,742 sqft · SingleFamily public records · 2 Days on market

Built 1962 6,700 sqft lot ↓ 40% since listing

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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 +7.5/15.0
• Schools +3.5/10.0
• 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

Beautiful 4 bedroom brick home in Washington Local. All 4 bedrooms are huge. Bright spacious eat-in kitchen with tons of cabinets and storage space. New roof and 50 gallon hot water tank in 2016. Newer furnace. New paint and flooring throughout. Large 2 1/2 car garage. Fully fenced back yard with covered patio. Bring all ofers. Home Warranty included.

Key facts

• Storage shed
• Fenced in back yard
• Heating and cooling

Tags

• FENCED IN BACK YARD
• DETACHED GARAGE
• STORAGE SHED
• HEATING AND COOLING
• WASHINGTON LOCAL SCHOOLS

Property features AI

Exterior

• Parking: Detached garage; 2-car garage; Driveway; Additional parking
• Utilities: Electricity available; Natural gas connected; Public water; Public sewer connected
• Home design: Single-family residence; Residential property; One and one-half levels (2 stories); Not attached; no common walls
• Construction: Brick and other exterior materials; Crawl space foundation
• Exterior features: Shingle roof

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Bedroom on main level; Two bedrooms on upper level
• Flooring: Other flooring
• Bathrooms: 1 full bathroom; 1 half bathroom (1.5 total)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Eat-in kitchen; 6 total rooms; Other interior features
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $748 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Cap rate 21.2% 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.
• Washington Local (urban): math 37% / reading 47% proficiency, ranked #528 of 656 in OH (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Monac Elementary School (math 56% / reading 62%, grade B-, #707 of 1,584 statewide, top 45%, 473 students, 47% FRL); Whitmer High School (math 38% / reading 48%, grade F, #494 of 781 statewide, top 63%, 2,247 students, 42% FRL) — zoned schools at 44% FRL track the district average.
• Market conditions: 53 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y 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: property tax is 4.6% of price.

Recommended offer $60,000

Questions for the listing agent

1. Built in 1962 — 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: 2.78% ✓
• Cap rate: 21.24%
• Cash-on-cash: 53.39%
• DSCR: 3.38
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $221,234
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3732 Wrenwood Rd	0.33mi	4/2.0	1,652 (-5%)	4mo	$241,500	$146	71
3640 Brock Dr	0.43mi	3/2.0 (-1)	1,740 (-0%)	10mo	$240,000	$138	64
5704 Harvest Ln	0.42mi	4/2.0	1,908 (+10%)	1mo	$228,000	$119	61
6031 Meteor Ave	0.19mi	3/2.0 (-1)	1,530 (-12%)	10mo	$245,000	$160	56
3422 Birchdale Dr	0.68mi	4/1.5	1,887 (+8%)	1mo	$235,000	$125	53
5334 Bridlington Drive Dr	0.74mi	3/1.5 (-1)	1,684 (-3%)	4mo	$189,900	$113	52
5949 Murnen Rd	0.56mi	3/1.5 (-1)	1,914 (+10%)	2mo	$190,000	$99	50
5822 Friedly Dr	0.48mi	3/1.5 (-1)	1,523 (-13%)	2mo	$152,775	$100	50
3945 Branch Dr	0.75mi	4/1.5	1,831 (+5%)	12mo	$275,000	$150	47
5720 Comet Ave	0.36mi	5/2.0 (+1)	1,918 (+10%)	15mo	$81,500	$42	46
4128 Oak Crest Rd	0.74mi	4/2.5	1,829 (+5%)	11mo	$245,500	$134	44
5907 Gany Mede Dr	0.68mi	3/2.0 (-1)	1,632 (-6%)	12mo	$206,500	$127	41

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: 51.6%
• Equity multiple: 3.26×
• Total profit: $38,008
• Equity at exit: $8,946

10-year hold

• IRR: 56.9%
• Equity multiple: 6.65×
• Total profit: $94,892
• Equity at exit: $5,188

Cash invested: $16,800 (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 43623

• Home prices YoY: -19.8%
• Active inventory: 53
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,668 high
• Mortgage (P&I): −$315
• Tax from tax record: −$231 /mo · $2,767/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $748

Break-even live

Break-even rent $722

Max offer price $60,000

Occupancy floor 50%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6022 Clover Ln Toledo, OH	3.0	2.0	1296	$1,750	$1.35	21d	1	0.15mi
3907 Donegal Dr Toledo, OH	4.0	2.0	1152	$1,295	$1.12	23d	1	0.82mi
3145 Brock Dr Toledo, OH	3.0	2.0	1100	$1,600	$1.45	13d	1	0.96mi
4842 Larkhaven Dr Toledo, OH	3.0	3.0	1594	$2,400	$1.51	23d	1	1.41mi
7076 Middlebury Dr Lambertville, MI	3.0	2.0	1248	$2,495	$2.00	13d	1	1.49mi

Listing history 6 events

1. 2026-05-30
   statusdays on market $60,000 Pending 2 DOM
2. 2026-05-28
   listed $60,000 Active
3. 2025-10-14
   price $90,000 353-char remark

   Show marketing remark (353 chars)

   Beautiful 4 bedroom brick home in Washington Local. All 4 bedrooms are huge. Bright spacious eat-in kitchen with tons of cabinets and storage space. New roof and 50 gallon hot water tank in 2016. Newer furnace. New paint and flooring throughout. Large 2 1/2 car garage. Fully fenced back yard with covered patio. Bring all ofers. Home Warranty included.

4. 2016-12-06
   soldstatus $90,000
5. 2016-12-02
   soldstatus $90,000 353-char remark

   Show marketing remark (353 chars)

   Beautiful 4 bedroom brick home in Washington Local. All 4 bedrooms are huge. Bright spacious eat-in kitchen with tons of cabinets and storage space. New roof and 50 gallon hot water tank in 2016. Newer furnace. New paint and flooring throughout. Large 2 1/2 car garage. Fully fenced back yard with covered patio. Bring all ofers. Home Warranty included.

6. 2016-09-01
   listed $99,900 353-char remark

   Show marketing remark (353 chars)

   Beautiful 4 bedroom brick home in Washington Local. All 4 bedrooms are huge. Bright spacious eat-in kitchen with tons of cabinets and storage space. New roof and 50 gallon hot water tank in 2016. Newer furnace. New paint and flooring throughout. Large 2 1/2 car garage. Fully fenced back yard with covered patio. Bring all ofers. Home Warranty included.

ⓘ 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: $2,767 · $231/mo
• Projected year-2 tax: $2,767 · $231/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: $20,017
• − Mortgage interest: −$3,361
• − Property taxes: −$2,767
• − Insurance: −$300
• − Repairs & maintenance: −$1,601
• − Management: −$1,601
• − Depreciation: −$1,745
• Taxable income: $8,640
• Est. tax owed @ 24.0%: −$2,074
• After-tax cash flow: $6,896/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: Washington Local
• NCES district ID: 3904823
• Math proficiency: 37% ▼ -20.00%
• Reading proficiency: 47% ▼ -11.00%
• Median HH income: $42,105
• Composite: 35.36/100
• National rank: #4957
• State rank: #528 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): 20,267
• Household income: $71,171
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 617.0

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: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 8% Two or more races 7% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Romanian 11% Lithuanian 5% Slovak 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 90% English-only · Arabic 4% Spanish 2% Other Indo-European 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: ▼ -51.92%
• Current HPI: 209.8555
• Rent YoY: —
• 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

-39.9% since first listed

5 events — show timeline

• 2026-05-28 Listed $60,000 NORIS
• 2025-10-14 Price Changed $90,000 NORIS
• 2016-12-06 Sold (Public Records) $90,000 Public Records
• 2016-12-02 Sold (MLS) $90,000 NORIS
• 2016-09-01 Listed $99,900 NORIS

Property tax history

+1.6%/yr

Latest (2025): $2,767 · +1.5% YoY. Source: county tax records.