251 Inverness Ln · Toledo, OH 48182

$59,900

3 bd · 2.0 ba · 1,456 sqft · Other · 301 Days on market

Built 1992 3,200 sqft lot $41/sqft · 25% below area Est $80k · 25% under $460/mo HOA · 34% of rent

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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 +29.2/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

3 bedroom, 2 full baths, with over 1,400 sq. ft. of living area, manufactured home in Inverness II mobile home park, covered deck, carport, appliances included with sale of home, Bedford Schools, current monthly lot rent $460. Home has recently been updated and interior painted. Refrigerator, Range/Oven, Washer & Dryer are new within the last year.

Key facts

• Covered deck
• Interior painted
• Recently updated

Tags

• COVERED DECK
• CARPORT
• APPLIANCES INCLUDED
• RECENTLY UPDATED
• INTERIOR PAINTED
• NEW REFRIGERATOR

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $60k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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.
• Bedford Public Schools (suburban): math 33% / reading 53% proficiency, ranked #150 of 540 in MI (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 3 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $414 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 301 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 5 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.
• Current owner paid $33k; list at $60k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 301 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 2.29% ✓
• Cap rate: 10.49%
• Cash-on-cash: 14.99%
• DSCR: 1.67
• GRM: 3.6

CMA / ARV

• ARV (median comp): $80,252
• List price: $59,900
• Delta: -25.36%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.0%
• Equity multiple: 1.24×
• Total profit: $3,942
• Equity at exit: $8,931

10-year hold

• IRR: 15.7%
• Equity multiple: 2.30×
• Total profit: $21,848
• Equity at exit: $5,179

Cash invested: $16,772 (down + closing). Projections, not guarantees.

Monthly cashflow live

• Estimated rent: $1,371 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$460
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $210

Break-even live

Break-even rent $1,106

Max offer price $59,900

Occupancy floor 80%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6255 S Telegraph Erie, MI	3.0	2.0	1184	$1,288	$1.09	14d	3	0.59mi
1417 Primrose Ave Toledo, OH	3.0	1.0	1411	$1,625	$1.15	14d	1	0.98mi
927 W Northgate Pkwy Toledo, OH	2.0	1.0	896	$1,100	$1.23	14d	1	1.24mi

HOA detail

• Monthly dues: $460 · $5,520/yr

Listing history 24 events

1. 2026-06-18
   days on market $59,900 Active 301 DOM
2. 2026-06-17
   days on market $59,900 Active 300 DOM
3. 2026-06-16
   days on market $59,900 Active 299 DOM
4. 2026-06-15
   days on market $59,900 Active 298 DOM
5. 2026-06-14
   days on market $59,900 Active 296 DOM
6. 2026-06-10
   days on market $59,900 Active 293 DOM
7. 2026-06-09
   days on market $59,900 Active 292 DOM
8. 2026-06-08
   days on market $59,900 Active 291 DOM
9. 2026-06-07
   days on market $59,900 Active 290 DOM
10. 2026-06-03
    days on market $59,900 Active 286 DOM
11. 2026-06-02
    days on market $59,900 Active 285 DOM
12. 2026-06-01
    days on market $59,900 Active 284 DOM
13. 2026-05-31
    days on market $59,900 Active 283 DOM
14. 2026-05-30
    days on market $59,900 Active 282 DOM
15. 2025-08-19
    listed $59,900 Active 356-char remark

    Show marketing remark (356 chars)

    3 bedroom, 2 full baths, with over 1,400 sq. ft. of living area, manufactured home in Inverness II mobile home park, covered deck, carport, appliances included with sale of home, Bedford Schools, current monthly lot rent $460. Home has recently been updated and interior painted. Refrigerator, Range/Oven, Washer & Dryer are new within the last year.

16. 2025-08-19
    listed $59,900 Active 356-char remark

    Show marketing remark (356 chars)

    3 bedroom, 2 full baths, with over 1,400 sq. ft. of living area, manufactured home in Inverness II mobile home park, covered deck, carport, appliances included with sale of home, Bedford Schools, current monthly lot rent $460. Home has recently been updated and interior painted. Refrigerator, Range/Oven, Washer & Dryer are new within the last year.

17. 2024-01-26
    soldstatus $33,000 Sold
18. 2024-01-26
    soldstatus $33,000 Closed
19. 2024-01-26
    soldstatus $33,000
20. 2024-01-25
    status Pending
21. 2024-01-25
    status Pending
22. 2023-08-16
    listed $40,000 Active
23. 2023-08-15
    listed $40,000 Active
24. 2023-08-15
    listed $40,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $16,458
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,317
• − Management: −$1,317
• − HOA: −$5,520
• − Depreciation: −$1,743
• Taxable income: $2,009
• Est. tax owed @ 24.0%: −$482
• After-tax cash flow: $2,032/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: Bedford Public Schools
• NCES district ID: 2604470
• Math proficiency: 33% ▼ -14.00%
• Reading proficiency: 53% ▼ -3.00%
• Median HH income: $63,784
• Composite: 38.22/100
• National rank: #4252
• State rank: #150 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): 20,705
• Household income: $83,155
• Rent vs Own: 16.9% rent · 83.1% own
• Severe rent burden: 12.7

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 6% Two or more races 5% Black 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 14% Lithuanian 4% Italian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

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: ▼ -140.99%
• Current HPI: 158.2484
• 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

+49.8% since first listed

10 events — show timeline

• 2025-08-19 Listed $59,900 MiRealSource-MiMLS
• 2025-08-19 Listed $59,900 REALCOMP
• 2024-01-26 Sold (MLS) $33,000 MiRealSource-MiMLS
• 2024-01-26 Sold (MLS) $33,000 MiRealSource-MiMLS
• 2024-01-26 Sold (MLS) $33,000 REALCOMP
• 2024-01-25 Pending — MiRealSource-MiMLS
• 2024-01-25 Pending — REALCOMP
• 2023-08-16 Listed $40,000 REALCOMP
• 2023-08-15 Listed $40,000 MiRealSource-MiMLS
• 2023-08-15 Listed $40,000 MiRealSource-MiMLS