5426 Merriman Dr · Sylvania, OH 43560

$145,000

3 bd · 1.0 ba · 954 sqft · SingleFamily public records · 9 Days on market

Built 1949 5,000 sqft lot Est $164k · 12% under

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Why this score? — see what drove the C+ 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 +21.3/30.0
• ARV discount +12.7/15.0
• DSCR +6.8/10.0
• Schools +5.9/10.0
• 1% rule +4.6/10.0
• Livability +4.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bed Sylvania home with an attached garage. The property has a nice fenced yard with a deck for your outdoor enjoyment. There are 2 sheds on the property.

Key facts

• 5,000 sq ft lot
• Garage
• Built 1949

Property features AI

Exterior

• Parking: Attached garage; 1 garage space; Driveway; Gravel parking
• Utilities: Electricity connected (100 amp service); Natural gas connected; Well water; Septic tank
• Home design: Single-family house; Residential property; Not attached to other structures; One and one half levels; Facing not specified
• Construction: Vinyl siding; Slab foundation; Asphalt shingle roof
• Exterior features: Deck; Covered porch; Privacy fencing; Level lot; City street frontage; Asphalt road

Interior

• Kitchen: Disposal; Electric oven; Electric range; Refrigerator; Electric range connection; Water heater
• Bedrooms: Bedroom 2 on upper level (12 x 9); Bedroom 3 on upper level (11 x 9)
• Flooring: Carpet; Ceramic tile; Engineered hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Eat-in kitchen; Insulated windows; Window treatments; Total of 5 rooms
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $213 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (4.2% below list).
• Recommended offer: $139k (4.2% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 2.8% in Sylvania — 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 88/100 on livability (#18 in OH, #191 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities C-, commute F.
• Sylvania Schools (suburban): math 63% / reading 71% proficiency, ranked #157 of 656 in OH (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Hill View Elementary School (math 67% / reading 73%, grade A-, #380 of 1,584 statewide, top 25%, 359 students, 32% FRL); Sylvania Northview High School (math 59% / reading 78%, grade B, #130 of 781 statewide, top 17%, 1,352 students, 20% FRL).
• Market conditions: 195 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• This rent is only 15% of the median local income ($109k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 23y ago; this cycle's ask is 559% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $23k; list at $145k implies a 530% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $138,896 (4.2% below list)

Questions for the listing agent

1. Built in 1949 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 0.96% ✗
• Cap rate: 8.05%
• Cash-on-cash: 6.29%
• DSCR: 1.28
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $164,088
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5438 Grey Dr	0.31mi	3/1.0	960 (+1%)	9mo	$162,000	$169	77
5239 Mc Gregor Ln	0.11mi	2/1.0 (-1)	1,015 (+6%)	4mo	$176,200	$174	76
5664 Stewart Rd	0.38mi	3/1.0	976 (+2%)	3mo	$154,000	$158	76
5444 Silvertown Dr	0.13mi	2/1.0 (-1)	976 (+2%)	12mo	$167,900	$172	75
5150 Arbor Way	0.19mi	2/1.0 (-1)	870 (-9%)	2mo	$168,000	$193	70
5202 Arbor Way	0.18mi	2/1.0 (-1)	840 (-12%)	6mo	$166,000	$198	62
5240 Silvertown Dr	0.25mi	2/1.0 (-1)	841 (-12%)	5mo	$138,000	$164	59
5258 Alexis Rd	0.30mi	2/1.0 (-1)	875 (-8%)	14mo	$80,000	$91	56
5718 Webster Dr	0.50mi	3/1.5	999 (+5%)	14mo	$232,000	$232	55
4944 Trellis Way	0.38mi	3/1.0	858 (-10%)	14mo	$195,000	$227	54
5228 Estess Ave	0.71mi	3/1.0	996 (+4%)	11mo	$164,900	$166	50
6015 Whiteford Rd	0.73mi	3/1.0	1,017 (+7%)	8mo	$143,000	$141	49

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: -6.6%
• Equity multiple: 0.75×
• Total profit: $-9,995
• Equity at exit: $21,620

10-year hold

• IRR: 2.9%
• Equity multiple: 1.21×
• Total profit: $8,539
• Equity at exit: $12,537

Cash invested: $40,600 (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 43560

• Home prices YoY: -31.7%
• Active inventory: 195
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,389 high
• Mortgage (P&I): −$760
• Tax from tax record: −$64 /mo · $764/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $213

Break-even live

Break-even rent $1,120

Max offer price $145,000

Occupancy floor 80%

Sensitivity live

Price	-10% $295	-5% $254	+0% $213	+5% $172	+10% $131
Rent	-10% $103	-5% $158	+0% $213	+5% $268	+10% $323
Rate	-1.0pp $286	-0.5pp $250	base $213	+0.5pp $175	+1.0pp $137

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5301 Alexis Rd Sylvania, OH	1.0–2.0	1.0	685	$875	$1.28	14d	1	0.30mi
5600 Alexis Rd Sylvania, OH	1.0–2.0	1.0	590	$925	$1.57	14d	1	0.62mi
5360 Monroe St Toledo, OH	1.0–2.0	1.0	729	$900	$1.23	44d	1	0.76mi
4606 Nantuckett Dr Toledo, OH	1.0–2.0	1.0	775	$925	$1.19	44d	1	1.09mi
5747 Talmadge Rd Toledo, OH	1.0–2.0	1.0	647	$919	$1.42	14d	1	1.21mi

Listing history 10 events

1. 2026-06-18
   days on market $145,000 Active 9 DOM
2. 2026-06-17
   days on market $145,000 Active 8 DOM
3. 2026-06-16
   days on market $145,000 Active 7 DOM
4. 2026-06-15
   days on market $145,000 Active 6 DOM
5. 2026-06-14
   days on market $145,000 Active 4 DOM
6. 2026-06-13
   days on market $145,000 Active 3 DOM
7. 2026-06-09
   statusdays on market $145,000 Active 1 DOM
8. 2026-06-08
   days on market $145,000 Coming Soon 3 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $145,000 Coming Soon 2 DOM

ⓘ 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: $764 · $64/mo
• Projected year-2 tax: $1,513 · $126/mo
• Expected delta: +$749/yr (+$62/mo · 98.0%)

ⓘ 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 ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,668
• − Mortgage interest: −$8,122
• − Property taxes: −$764
• − Insurance: −$725
• − Repairs & maintenance: −$1,333
• − Management: −$1,333
• − Depreciation: −$4,218
• Taxable income: $171
• Est. tax owed @ 24.0%: −$41
• After-tax cash flow: $2,512/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: Sylvania Schools
• NCES district ID: 3904487
• Math proficiency: 63% ▼ -12.00%
• Reading proficiency: 71% ▼ -6.00%
• Median HH income: $71,949
• Composite: 58.95/100
• National rank: #967
• State rank: #157 of 656 in OH

Livability — Sylvania

• Score: 88/100
• State rank: #18
• US rank: #191

Category grades

Amenities C- Commute F Cost of living A+ Crime A+ Employment A+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lucas County · 380,724 people
• City population: 33,286
• Metro: Toledo, OH
• Population (ZIP): 33,286
• Household income: $109,486
• Rent vs Own: 18.1% rent · 81.9% own
• Severe rent burden: 355.0

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 (86%)
• Race & ethnicity: White 86% Two or more races 4% Asian 4% Hispanic / Latino 3% Black 3%
• Common ancestry: Romanian 10% Lithuanian 4% Slovak 2%
• Foreign-born: 6% · China, Canada
• Languages at home: 92% English-only · Other Indo-European 2% Arabic 2% Spanish 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: ▼ -99.73%
• Current HPI: 215.2986
• 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

+400.0% since first listed

13 events — show timeline

• 2026-06-05 Coming Soon $145,000 NORIS
• 2026-05-16 Price Changed $22,000 NORIS
• 2013-11-25 Sold (MLS) $23,000 NORIS
• 2013-10-30 Price Changed $23,000 NORIS
• 2013-10-25 Listed $22,000 NORIS
• 2004-05-06 Sold (Public Records) $75,000 Public Records
• 2004-02-23 Listing Removed — NORIS
• 2004-02-23 Listing Removed — NORIS
• 2003-09-23 Listed $74,900 NORIS
• 2003-08-23 Listed $74,900 NORIS
• 2003-07-30 Listing Removed — NORIS
• 2003-01-14 Listed $79,000 NORIS
• 1991-07-29 Sold (Public Records) $29,000 Public Records

Property tax history

-5.4%/yr

Latest (2025): $764 · +5.8% YoY. Source: county tax records.