537 Lynnhaven Dr · Toledo, OH 43609

$124,900

2 bd · 1.0 ba · 1,088 sqft · SingleFamily public records · 4 Days on market

Built 1952 0.29 ac lot Est $89k · 40% over

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Why this score? — see what drove the D- 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 +14.7/30.0
• Appreciation +5.4/10.0
• DSCR +4.5/10.0
• Rent growth +4.5/5.0
• 1% rule +3.4/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0

Listing remarks

Charming Midwestern style Cape-Cod home offering more space and flexibility than meets the eye! Situated on a rare double lot (combined to one parcel) this property provides an expansive yard with both side and backyard space. Inside you'll find approximately 1100 ft. ² above grade, plus a finished lower level that expands the living options even further. The basement feature is a private living area with a wet bar, half bath and additional bedroom set up; ideal for guests, extended living, or multi-use space. The upper level offers its own private suite, with a half bath, creating a unique layout with separation of versatility across all three levels. Major updates include a newer roo

Key facts

• 0.29 acre lot
• 2 garage spots
• Built 1952

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $32 ($389/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 $104k (16.5% below list).
• Recommended offer: $104k (16.5% below list) — sets the bar for 1% rule.

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: Harvard Elementary School (math 17% / reading 27%, grade F, #1,242 of 1,584 statewide, top 80%, 311 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; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 $2k of equity ($864 loan paydown + $936 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 $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $45k; list at $125k implies a 178% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,326 (16.5% below list)

Questions for the listing agent

1. Built in 1952 — 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 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?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.84% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.11%
• DSCR: 1.05
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $89,216
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
537 Lynnhaven Dr	0.00mi	3/2.0 (+1)	1,088 (0%)	1mo	$150,000	$138	90
219 Storrs	0.35mi	3/1.0 (+1)	1,056 (-3%)	2mo	$81,800	$77	72
1922 Heatherdale Dr	0.17mi	2/1.0	946 (-13%)	2mo	$111,000	$117	69
855 Brighton Ave	0.56mi	3/1.0 (+1)	1,070 (-2%)	2mo	$97,500	$91	65
752 Hampton Ave	0.42mi	2/1.5	1,182 (+9%)	2mo	$85,900	$73	62
317 Eldred Ave	0.57mi	3/1.5 (+1)	1,108 (+2%)	1mo	$45,000	$41	62
1039 Wright Ave	0.64mi	3/1.0 (+1)	1,097 (+1%)	2mo	$15,000	$14	62
819 Geneva Ave	0.40mi	3/1.0 (+1)	1,212 (+11%)	1mo	$105,000	$87	56
829 Ogden Ave	0.45mi	3/1.0 (+1)	1,220 (+12%)	2mo	$100,000	$82	52
624 Carlton St	0.58mi	3/2.0 (+1)	1,013 (-7%)	2mo	$134,888	$133	51
119 Whiting Ave	0.50mi	3/1.0 (+1)	1,224 (+12%)	2mo	$45,000	$37	49
819 Lodge Ave	0.57mi	3/2.0 (+1)	1,190 (+9%)	1mo	$65,000	$55	48

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: 4.5%
• Equity multiple: 1.23×
• Total profit: $8,129
• Equity at exit: $41,018

10-year hold

• IRR: 11.9%
• Equity multiple: 2.58×
• Total profit: $55,161
• Equity at exit: $53,277

Cash invested: $34,972 (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: 10.0×

Monthly cashflow live

• Estimated rent: $1,043 high
• Mortgage (P&I): −$655
• Tax from tax record: −$85 /mo · $1,017/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $32

Break-even live

Break-even rent $1,002

Max offer price $124,900

Occupancy floor 92%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
707 Toronto Ave Toledo, OH	1.0	1.0	750	$775	$1.03	23d	1	0.30mi
307 Danberry St Toledo, OH	2.0	1.0	988	$950	$0.96	43d	1	0.44mi
2044 Arlington Ave Toledo, OH	2.0	1.0	800	$825	$1.03	21d	1	0.48mi
1734 Arlington Ave Toledo, OH	2.0	1.0	700	$800	$1.14	13d	1	0.52mi
523 Nicholas St Toledo, OH	3.0	1.0	1290	$1,350	$1.05	13d	1	0.57mi
2314 Airline Ave Toledo, OH	3.0	1.0	1123	$1,478	$1.32	23d	1	0.59mi
705 Nicholas St Toledo, OH	2.0	1.0	1037	$900	$0.87	43d	1	0.60mi
532 Carlton St Toledo, OH	3.0	1.0	1130	$1,050	$0.93	43d	1	0.60mi
1521 Emma St Unit LABS 1521 Emma St, B 43051619729 Toledo, OH	1.0	1.0	975	$900	$0.92	43d	1	0.66mi
724 Spencer St Toledo, OH	3.0	1.5	1127	$1,100	$0.98	43d	1	0.67mi
569 Colima Dr Toledo, OH	3.0	1.0	1253	$1,300	$1.04	23d	1	0.74mi
581 Colima Dr Toledo, OH	2.0	1.0	900	$1,100	$1.22	13d	1	0.74mi
1418 Colburn St Toledo, OH	3.0	1.0	992	$1,200	$1.21	13d	1	0.76mi
619 Durango Dr Toledo, OH	3.0	1.0	1276	$1,350	$1.06	43d	1	0.80mi
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	43d	1	0.90mi
2594 Broadway St Toledo, OH	2.0	1.0	1076	$825	$0.77	43d	1	0.98mi
319 N Detroit Ave Toledo, OH	3.0	1.0	1341	$845	$0.63	43d	1	0.99mi
1785 Tecumseh St Toledo, OH	2.0	1.0	930	$900	$0.97	43d	1	1.01mi
2424 Broadway St Toledo, OH	3.0	1.0	1416	$1,049	$0.74	13d	1	1.07mi
915 Woodstock Ave Toledo, OH	3.0	1.5	1500	$1,100	$0.73	23d	1	1.37mi
1510 Watova Rd Toledo, OH	3.0	1.0	1197	$1,495	$1.25	21d	1	1.39mi

Listing history 4 events

1. 2026-04-27
   status Pending
2. 2026-04-23
   listed $124,900 Active
3. 2026-04-20
   historical $124,900
4. 2018-08-03
   soldstatus $45,000

ⓘ 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: $1,017 · $85/mo
• Projected year-2 tax: $1,483 · $124/mo
• Expected delta: +$466/yr (+$39/mo · 45.8%)

ⓘ 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 · 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: $12,519
• − Mortgage interest: −$6,996
• − Property taxes: −$1,017
• − Insurance: −$624
• − Repairs & maintenance: −$1,002
• − Management: −$1,002
• − Depreciation: −$3,633
• Taxable loss: −$1,755
• Est. tax savings @ 24.0%: +$421
• After-tax cash flow: $810/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

+177.6% since first listed

4 events — show timeline

• 2026-04-27 Pending — NORIS
• 2026-04-23 Listed $124,900 NORIS
• 2026-04-20 Coming Soon $124,900 NORIS
• 2018-08-03 Sold (Public Records) $45,000 Public Records

Property tax history

-2.0%/yr

Latest (2025): $1,017 · -2.3% YoY. Source: county tax records.