1027 Secor Rd · Toledo, OH 43607

$140,000

4 bd · 2.0 ba · 1,371 sqft · SingleFamily public records · 38 Days on market

Built 1941 9,500 sqft lot $102/sqft · at area comps Est $140k · at est.

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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 +22.2/30.0
• ARV discount +7.6/15.0
• DSCR +7.1/10.0
• 1% rule +5.9/10.0
• 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

Key facts

• 9,500 sq ft lot
• Garage
• Built 1941

Property features AI

Exterior

• Parking: Detached garage (1 garage space); Driveway parking; Off-street parking; Total 5 parking spaces
• Utilities: Public water; Public sewer; Electricity connected (100 Amp service, circuit breakers); Natural gas connected; Cable available; WiFi available
• Home design: Single family house; Two levels; No shared/common walls
• Construction: Block foundation; Built with aluminum and vinyl siding
• Exterior features: Asphalt roof; Aluminum siding; Vinyl siding

Interior

• Kitchen: Electric range; Electric range connection; Microwave; Dishwasher; Refrigerator
• Bedrooms: Bedroom 2 (Upper); Bedroom 3 (Upper); Bedroom 4 (Upper); Bedroom 5 (Lower); Bonus room (Upper)
• Flooring: Carpet; Linoleum
• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Primary bathroom; Partially finished basement; Sump pump; Living room with fireplace
• Laundry & utility: Washer; Dryer; Electric dryer hookup; Gas dryer hookup; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (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: Grove Patterson Academy Elementary School (math 47% / reading 66%, grade C+, #761 of 1,584 statewide, top 48%, 403 students, 38% FRL); Rogers High School (math 8% / reading 27%, grade F, #689 of 781 statewide, top 90%, 721 students, 0% FRL) — zoned schools average 19% FRL vs 72% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 37% at this address vs 20% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Toledo City average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+8.2%/yr); 85 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• This rent runs 44% 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 $968 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $39k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $62k; list at $140k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1941 — 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: 1.09% ✓
• Cap rate: 8.26%
• Cash-on-cash: 7.01%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

• ARV (median comp): $140,273
• List price: $140,000
• Delta: -0.19%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
802 Cuthbert Rd	0.19mi	3/2.0 (-1)	1,443 (+5%)	7mo	$150,000	$104	71
3226 Inverness Ave	0.25mi	3/2.5 (-1)	1,266 (-8%)	3mo	$113,300	$89	67
904 Mackow Dr	0.38mi	3/1.0 (-1)	1,369 (-0%)	9mo	$147,000	$107	65
3811 House Of Stuart Ave	0.43mi	4/2.0	1,500 (+9%)	4mo	$193,000	$129	61
712 Underwood Ave	0.50mi	3/1.0 (-1)	1,312 (-4%)	1mo	$80,000	$61	60
3712 Whitegate Dr	0.44mi	3/2.0 (-1)	1,258 (-8%)	11mo	$155,000	$123	52
1023 Underwood Ave	0.40mi	4/2.0	1,192 (-13%)	12mo	$139,900	$117	50
729 Southbriar Rd	0.51mi	3/1.5 (-1)	1,500 (+9%)	9mo	$166,000	$111	46
2901 Avondale Ave	0.66mi	3/2.0 (-1)	1,293 (-6%)	11mo	$107,000	$83	46
1006 Brookley Blvd	0.51mi	3/1.0 (-1)	1,232 (-10%)	11mo	$175,000	$142	42
735 Brookley Blvd	0.51mi	3/1.0 (-1)	1,200 (-12%)	10mo	$130,000	$108	38
539 Independence Rd	0.70mi	3/1.0 (-1)	1,202 (-12%)	7mo	$115,000	$96	32

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: -0.0%
• Equity multiple: 1.00×
• Total profit: $-30
• Equity at exit: $20,874

10-year hold

• IRR: 14.3%
• Equity multiple: 2.42×
• Total profit: $55,488
• Equity at exit: $12,105

Cash invested: $39,200 (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: 85
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,523 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$182 /mo · $2,179/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $229

Break-even live

Break-even rent $1,233

Max offer price $140,000

Occupancy floor 80%

Sensitivity live

Price	-10% $308	-5% $269	+0% $229	+5% $189	+10% $150
Rent	-10% $109	-5% $169	+0% $229	+5% $289	+10% $349
Rate	-1.0pp $299	-0.5pp $265	base $229	+0.5pp $193	+1.0pp $156

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
536 Carver Blvd Toledo, OH	3.0	1.0	1204	$1,195	$0.99	25d	1	0.74mi
2037 Alvin St Toledo, OH	3.0	1.0	1260	$1,175	$0.93	45d	1	1.33mi
4515 W Bancroft St Toledo, OH	3.0	2.0	1120	$1,500	$1.34	15d	1	1.49mi

Listing history 14 events

1. 2026-06-08
   days on market $140,000 Active 38 DOM
2. 2026-06-07
   days on market $140,000 Active 37 DOM
3. 2026-06-05
   days on market $140,000 Active 34 DOM
4. 2026-06-03
   days on market $140,000 Active 33 DOM
5. 2026-06-02
   days on market $140,000 Active 32 DOM
6. 2026-06-01
   days on market $140,000 Active 31 DOM
7. 2026-05-31
   days on market $140,000 Active 30 DOM
8. 2026-05-30
   days on market $140,000 Active 29 DOM
9. 2026-05-18
   price $140,000 591-char remark
10. 2026-05-01
    listed $150,000 Active 591-char remark
11. 2026-04-24
    historical $150,000 591-char remark
12. 2020-10-28
    soldstatus $62,000
13. 1987-08-13
    soldstatus $39,500
14. 1981-03-04
    soldstatus $37,500

ⓘ 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: $2,179 · $182/mo
• Projected year-2 tax: $2,181 · $182/mo
• Expected delta: +$3/yr ($0/mo · 0.1%)

ⓘ 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,274
• − Mortgage interest: −$7,842
• − Property taxes: −$2,179
• − Insurance: −$700
• − Repairs & maintenance: −$1,462
• − Management: −$1,462
• − Depreciation: −$4,073
• Taxable income: $556
• Est. tax owed @ 24.0%: −$133
• After-tax cash flow: $2,614/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

+273.3% since first listed

7 events — show timeline

• 2026-06-08 Listing Removed — NORIS
• 2026-05-18 Price Changed $140,000 NORIS
• 2026-05-01 Listed $150,000 NORIS
• 2026-04-24 Coming Soon — NORIS
• 2020-10-28 Sold (Public Records) $62,000 Public Records
• 1987-08-13 Sold (Public Records) $39,500 Public Records
• 1981-03-04 Sold (Public Records) $37,500 Public Records

Property tax history

+2.0%/yr

Latest (2025): $2,179 · -0.9% YoY. Source: county tax records.