712 Underwood Ave · Toledo, OH 43607

$114,900

3 bd · 1.5 ba · 1,312 sqft · SingleFamily public records · 48 Days on market

Built 1956 4,900 sqft lot Est $136k · 16% under

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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 +24.8/30.0
• ARV discount +14.6/15.0
• DSCR +8.0/10.0
• 1% rule +6.2/10.0
• Rent growth +4.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Estate property on the corner of Victory and Underwood. Nice brick home located on two lots. 3 Large bed rooms, large Master bedroom, large family room with wood floors, 2 car attached garage., screen porch attached to family room. Custom Brick Barbecue Gill and New sump pump drainage. Motivate Seller!

Key facts

• 4,900 sq ft lot
• 2 garage spots
• Built 1956

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $111k (3.0% below list) — sets the bar for market timing.

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: Keyser Elementary School (math 8% / reading 12%, grade F, #1,471 of 1,584 statewide, top 95%, 306 students, 0% FRL); Rogers High School (math 8% / reading 27%, grade F, #689 of 781 statewide, top 90%, 721 students, 0% FRL) — zoned schools average 0% FRL vs 72% district-wide (72 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+8.2%/yr); 83 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% 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).
• This rent runs 37% of the median local income ($41k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k 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 + 8.0% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $43k; list at $115k implies a 167% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,453 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.12% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.08%
• DSCR: 1.40
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $136,448
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
712 Underwood Ave	0.00mi	3/1.0	1,312 (0%)	1mo	$80,000	$61	97
904 Mackow Dr	0.16mi	3/1.0	1,369 (+4%)	9mo	$147,000	$107	76
2901 Avondale Ave	0.25mi	3/2.0	1,293 (-1%)	11mo	$107,000	$83	75
735 Brookley Blvd	0.06mi	3/1.0	1,200 (-8%)	9mo	$130,000	$108	73
3226 Inverness Ave	0.34mi	3/2.5	1,266 (-4%)	3mo	$113,300	$89	72
1006 Brookley Blvd	0.23mi	3/1.0	1,232 (-6%)	10mo	$175,000	$142	68
732 Moran Ave	0.14mi	3/2.0	1,145 (-13%)	8mo	$152,000	$133	64
802 Cuthbert Rd	0.36mi	3/2.0	1,443 (+10%)	7mo	$150,000	$104	59
823 N Byrne Rd	0.52mi	2/1.0 (-1)	1,245 (-5%)	2mo	$112,500	$90	58
1023 Underwood Ave	0.25mi	4/2.0 (+1)	1,192 (-9%)	11mo	$139,900	$117	57
914 Turner Ave	0.30mi	2/1.0 (-1)	1,174 (-10%)	9mo	$35,000	$30	54
830 N Byrne Rd	0.49mi	3/1.0	1,157 (-12%)	4mo	$105,000	$91	52

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 2.8%
• Equity multiple: 1.11×
• Total profit: $3,666
• Equity at exit: $17,132

10-year hold

• IRR: 16.6%
• Equity multiple: 2.68×
• Total profit: $54,008
• Equity at exit: $9,934

Cash invested: $32,172 (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 43607

• Home prices YoY: -27.5%
• Rents YoY: 8.2%
• Active inventory: 83
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,282 high
• Mortgage (P&I): −$603
• Tax from tax record: −$119 /mo · $1,425/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $243

Break-even live

Break-even rent $974

Max offer price $114,900

Occupancy floor 76%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
932 Turner Ave Toledo, OH	2.0	1.0	960	$1,295	$1.35	14d	1	0.34mi
536 Carver Blvd Toledo, OH	3.0	1.0	1204	$1,195	$0.99	23d	1	1.03mi
2637 Greenway St Toledo, OH	2.0	1.0	1082	$900	$0.83	44d	1	1.13mi
1133 Parkside Blvd Toledo, OH	2.0	1.0	960	$850	$0.89	44d	1	1.15mi
2030 Wyndhurst Rd Toledo, OH	2.0	1.0	1042	$950	$0.91	44d	1	1.17mi
2037 Alvin St Toledo, OH	3.0	1.0	1260	$1,175	$0.93	44d	1	1.19mi
2314 Airline Ave Toledo, OH	3.0	1.0	1123	$1,478	$1.32	23d	1	1.24mi
915 Woodstock Ave Toledo, OH	3.0	1.5	1500	$1,100	$0.73	23d	1	1.27mi
2535 W Bancroft St Unit 8 Toledo, OH	2.0	1.0	900	$895	$0.99	44d	1	1.29mi
307 Danberry St Toledo, OH	2.0	1.0	988	$950	$0.96	44d	1	1.39mi
569 Colima Dr Toledo, OH	3.0	1.0	1253	$1,300	$1.04	23d	1	1.43mi
581 Colima Dr Toledo, OH	2.0	1.0	900	$1,100	$1.22	14d	1	1.45mi
619 Durango Dr Toledo, OH	3.0	1.0	1276	$1,350	$1.06	44d	1	1.46mi

Listing history 9 events

1. 2026-03-18
   status Pending
2. 2026-03-07
   price $114,900
3. 2026-01-29
   listed $129,900 Active
4. 2025-10-14
   price $18,000 306-char remark

   Show marketing remark (306 chars)

   Estate property on the corner of Victory and Underwood. Nice brick home located on two lots. 3 Large bed rooms, large Master bedroom, large family room with wood floors, 2 car attached garage., screen porch attached to family room. Custom Brick Barbecue Gill and New sump pump drainage. Motivate Seller!

5. 2014-07-30
   soldstatus $43,000
6. 2014-03-28
   soldstatus $18,000 306-char remark

   Show marketing remark (306 chars)

   Estate property on the corner of Victory and Underwood. Nice brick home located on two lots. 3 Large bed rooms, large Master bedroom, large family room with wood floors, 2 car attached garage., screen porch attached to family room. Custom Brick Barbecue Gill and New sump pump drainage. Motivate Seller!

7. 2014-03-28
   soldstatus $18,000

   Show marketing remark (306 chars)

   Estate property on the corner of Victory and Underwood. Nice brick home located on two lots. 3 Large bed rooms, large Master bedroom, large family room with wood floors, 2 car attached garage., screen porch attached to family room. Custom Brick Barbecue Gill and New sump pump drainage. Motivate Seller!

8. 2014-03-19
   price $25,000 306-char remark

   Show marketing remark (306 chars)

   Estate property on the corner of Victory and Underwood. Nice brick home located on two lots. 3 Large bed rooms, large Master bedroom, large family room with wood floors, 2 car attached garage., screen porch attached to family room. Custom Brick Barbecue Gill and New sump pump drainage. Motivate Seller!

9. 2013-11-08
   listed $25,000 306-char remark

   Show marketing remark (306 chars)

   Estate property on the corner of Victory and Underwood. Nice brick home located on two lots. 3 Large bed rooms, large Master bedroom, large family room with wood floors, 2 car attached garage., screen porch attached to family room. Custom Brick Barbecue Gill and New sump pump drainage. Motivate Seller!

ⓘ 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: $1,425 · $119/mo
• Projected year-2 tax: $1,609 · $134/mo
• Expected delta: +$184/yr (+$15/mo · 12.9%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,382
• − Mortgage interest: −$6,436
• − Property taxes: −$1,425
• − Insurance: −$574
• − Repairs & maintenance: −$1,231
• − Management: −$1,231
• − Depreciation: −$3,343
• Taxable income: $1,142
• Est. tax owed @ 24.0%: −$274
• After-tax cash flow: $2,647/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): 19,469
• Household income: $41,335
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 1157.0

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 0.57)
• Race & ethnicity: Black 59% White 27% Two or more races 6% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Other Indo-European 1% Spanish 1% Russian/Polish/Slavic 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: ▼ -66.58%
• Current HPI: 175.2772
• Rent YoY: ▲ 8.19%
• 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

+359.6% since first listed

9 events — show timeline

• 2026-03-18 Pending — NORIS
• 2026-03-07 Price Changed $114,900 NORIS
• 2026-01-29 Listed $129,900 NORIS
• 2025-10-14 Price Changed $18,000 NORIS
• 2014-07-30 Sold (Public Records) $43,000 Public Records
• 2014-03-28 Sold (Public Records) $18,000 Public Records
• 2014-03-28 Sold (MLS) $18,000 NORIS
• 2014-03-19 Price Changed $25,000 NORIS
• 2013-11-08 Listed $25,000 NORIS

Property tax history

+6.3%/yr

Latest (2025): $1,425 · -0.0% YoY. Source: county tax records.