832 Turnbury Ln #28 · Perrysburg, OH 43551

$230,000

3 bd · 2.5 ba · 1,499 sqft · Condo public records

Built 1996 $288/mo HOA · 13% of rent

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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 +9.2/30.0
• ARV discount +7.5/15.0
• Schools +7.1/10.0
• 1% rule +4.5/10.0
• Livability +4.5/5.0
• Rent growth +4.3/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

No time like the present! Yes, Welcome to Luxury! 1499 sq. ft. of adorable living space, including loft for 3rd bedroom or extra living space w/full bath, & large walk-in closet. Owner's Suite w/bath & walk-in closet. Extra bedroom & 1/2 bath on main. Fenced patio to front door, warm & personal throughout w/special touches like cathedral ceilings in LR 3 good size windows for natural light, gas fireplace. Open floor plan for DR, LR, & kitchen. This condo is move in ready w/high-end upgrades from pilla windows throughout except landing window. New furnace, AC, & Sump Pump. Welcome Home!

Key facts

• $288 HOA
• 2 garage spots
• Community pool

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $230k.

Deal economics

• At list price, monthly cash flow is $-172 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $200k (13.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (4.9% below list).
• Recommended offer: $200k (13.2% below list) — sets the bar for cash-flow.
• Cap rate 5.4% vs local median 2.3% in Perrysburg — 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 91/100 on livability (#6 in OH, #52 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: commute F.
• Perrysburg Exempted Village (suburban): math 79% / reading 83% proficiency, ranked #41 of 656 in OH (top 6%) — strong family-tenant draw, lease renewals of 3-5y typical; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Frank Elementary School (math 87% / reading 77%, grade A+, #116 of 1,584 statewide, top 9%, 460 students, 8% FRL); Perrysburg Junior High School (math 82% / reading 85%, grade A+, #25 of 654 statewide, top 4%, 833 students, 10% FRL); Perrysburg High School (math 69% / reading 83%, grade A-, #63 of 781 statewide, top 8%, 1,636 students, 9% FRL) — zoned schools at 9% FRL track the district average.
• Market conditions: Rents rising fast (+7.3%/yr); 231 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 493 units permitted in Wood County in 2024 (48 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Wood County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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.

Recommended offer $199,657 (13.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.95% ✗
• Cap rate: 5.40%
• Cash-on-cash: -3.20%
• DSCR: 0.86
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.34% rent growth · sell at horizon

5-year hold

• IRR: -15.9%
• Equity multiple: 0.41×
• Total profit: $-38,019
• Equity at exit: $34,294

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-1,546
• Equity at exit: $19,886

Cash invested: $64,400 (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 43551

• Rents YoY: 7.3%
• Active inventory: 231
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,187 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$310 /mo · $3,715/yr
• Insurance: −$96
• HOA: −$288
• Vacancy / Maint / Mgmt: −$459
• Net cashflow: $-172

Break-even live

Break-even rent $2,404

Max offer price $199,657

Occupancy floor —

Sensitivity live

Price	-10% $-42	-5% $-107	+0% $-172	+5% $-237	+10% $-302
Rent	-10% $-345	-5% $-258	+0% $-172	+5% $-85	+10% $1
Rate	-1.0pp $-56	-0.5pp $-113	base $-172	+0.5pp $-231	+1.0pp $-292

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12315 Roachton Rd Perrysburg, OH	1.0–3.0	1.0–2.0	1018	$1,938	$1.90	15d	13	0.94mi
1000 Hollister Ln Perrysburg, OH	1.0–3.0	1.0–2.0	1026	$2,510	$2.45	15d	18	1.11mi
26555 Carronade Dr Perrysburg, OH	2.0–3.0	2.0–2.5	1440	$2,445	$1.70	15d	6	1.13mi
26741 Lakevue Dr Perrysburg, OH	1.0–3.0	1.0–1.5	940	$2,495	$2.65	15d	1	1.29mi
26797 Carronade Dr Perrysburg, OH	1.0–3.0	1.0–2.0	1099	$1,915	$1.74	15d	18	1.38mi

HOA detail condo

• Monthly dues: $288 · $3,456/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2022-07-15
   soldstatus $230,000
2. 2022-07-14
   soldstatus $230,000 Closed 616-char remark

   Show marketing remark (616 chars)

   No time like the present! Yes, Welcome to Luxury! 1499 sq. ft. of adorable living space, including loft for 3rd bedroom or extra living space w/full bath, & large walk-in closet. Owner's Suite w/bath & walk-in closet. Extra bedroom & 1/2 bath on main. Fenced patio to front door, warm & personal throughout w/special touches like cathedral ceilings in LR 3 good size windows for natural light, gas fireplace. Open floor plan for DR, LR, & kitchen. This condo is move in ready w/high-end upgrades from pilla windows throughout except landing window. New furnace, AC, & Sump Pump. Welcome Home!

3. 2022-06-15
   status Pending 616-char remark

   Show marketing remark (616 chars)

   No time like the present! Yes, Welcome to Luxury! 1499 sq. ft. of adorable living space, including loft for 3rd bedroom or extra living space w/full bath, & large walk-in closet. Owner's Suite w/bath & walk-in closet. Extra bedroom & 1/2 bath on main. Fenced patio to front door, warm & personal throughout w/special touches like cathedral ceilings in LR 3 good size windows for natural light, gas fireplace. Open floor plan for DR, LR, & kitchen. This condo is move in ready w/high-end upgrades from pilla windows throughout except landing window. New furnace, AC, & Sump Pump. Welcome Home!

4. 2022-06-15
   historical

   Show marketing remark (616 chars)

   No time like the present! Yes, Welcome to Luxury! 1499 sq. ft. of adorable living space, including loft for 3rd bedroom or extra living space w/full bath, & large walk-in closet. Owner's Suite w/bath & walk-in closet. Extra bedroom & 1/2 bath on main. Fenced patio to front door, warm & personal throughout w/special touches like cathedral ceilings in LR 3 good size windows for natural light, gas fireplace. Open floor plan for DR, LR, & kitchen. This condo is move in ready w/high-end upgrades from pilla windows throughout except landing window. New furnace, AC, & Sump Pump. Welcome Home!

5. 2022-06-13
   listed $230,000 Active 616-char remark

   Show marketing remark (616 chars)

   No time like the present! Yes, Welcome to Luxury! 1499 sq. ft. of adorable living space, including loft for 3rd bedroom or extra living space w/full bath, & large walk-in closet. Owner's Suite w/bath & walk-in closet. Extra bedroom & 1/2 bath on main. Fenced patio to front door, warm & personal throughout w/special touches like cathedral ceilings in LR 3 good size windows for natural light, gas fireplace. Open floor plan for DR, LR, & kitchen. This condo is move in ready w/high-end upgrades from pilla windows throughout except landing window. New furnace, AC, & Sump Pump. Welcome Home!

6. 2022-06-13
   listed $230,000

   Show marketing remark (616 chars)

   No time like the present! Yes, Welcome to Luxury! 1499 sq. ft. of adorable living space, including loft for 3rd bedroom or extra living space w/full bath, & large walk-in closet. Owner's Suite w/bath & walk-in closet. Extra bedroom & 1/2 bath on main. Fenced patio to front door, warm & personal throughout w/special touches like cathedral ceilings in LR 3 good size windows for natural light, gas fireplace. Open floor plan for DR, LR, & kitchen. This condo is move in ready w/high-end upgrades from pilla windows throughout except landing window. New furnace, AC, & Sump Pump. Welcome Home!

7. 2018-08-01
   soldstatus $159,900
8. 2005-08-08
   soldstatus $150,500
9. 2005-08-08
   soldstatus $150,500

ⓘ 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: $3,715 · $310/mo
• Projected year-2 tax: $3,715 · $310/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 ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,245
• − Mortgage interest: −$12,884
• − Property taxes: −$3,715
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,100
• − Management: −$2,100
• − HOA: −$3,456
• − Depreciation: −$6,691
• Taxable loss: −$5,850
• Est. tax savings @ 24.0%: +$1,404
• After-tax cash flow: $-657/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: Perrysburg Exempted Village
• NCES district ID: 3904558
• Math proficiency: 79% ▼ -8.00%
• Reading proficiency: 83% ▼ -4.00%
• Median HH income: $76,626
• Composite: 71.03/100
• National rank: #242
• State rank: #41 of 656 in OH

Livability — Perrysburg

• Score: 91/100
• State rank: #6
• US rank: #52

Category grades

Amenities A+ 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

• Census place: Perrysburg, OH
• County: Wood County · 75,163 people
• City population: 43,770
• Metro: Toledo, OH
• Population (ZIP): 43,770
• Household income: $95,846
• Rent vs Own: 34.9% rent · 65.1% own
• Severe rent burden: 1027.0

Population outlook (Wood County) Hauer SSP2

• Today (2025): 138,744 people
• By 2030: 143,189 · +3.2%
• By 2040: 150,896 · +8.8%
• By 2050: 158,589 · +14.3%
• By 2075: 182,166 · +31.3%
• By 2100: 196,533 · +41.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 7% Hispanic / Latino 5% Asian 4% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 12% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada, China, Jamaica
• Languages at home: 93% English-only · Other Indo-European 2% Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Wood

• 2024 margin: R (+10.2) · D 44.4% · R 54.6%
• 2008→2024 swing: -17.3pp toward R · 2008: 7.1pp · 2024: -10.2pp
• All cycles: 2024: R+10.2 2020: R+7.6 2016: R+8.5 2012: D+4.2 2008: D+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -153.34%
• Current HPI: 200.788
• Rent YoY: ▲ 7.34%
• 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

+52.8% since first listed

9 events — show timeline

• 2022-07-15 Sold (Public Records) $230,000 Public Records
• 2022-07-14 Sold (MLS) $230,000 NORIS
• 2022-06-15 Pending — NORIS
• 2022-06-15 Delisted — FAOR
• 2022-06-13 Listed $230,000 FAOR
• 2022-06-13 Listed $230,000 NORIS
• 2018-08-01 Sold (Public Records) $159,900 Public Records
• 2005-08-08 Sold (Public Records) $150,500 Public Records
• 2005-08-08 Sold (Public Records) $150,500 Public Records

Property tax history

+2.6%/yr

Latest (2025): $3,715 · +13.9% YoY. Source: county tax records.