2189 Mellwood Ave · Toledo, OH 43613

$84,500

2 bd · 1.0 ba · 852 sqft · SingleFamily public records · 21 Days on market

Built 1925 7,500 sqft lot $99/sqft · 39% below area Est $138k · 39% under ↓ 17% since listing

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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 +19.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +5.3/10.0
• Schools +3.5/10.0
• Rent growth +3.3/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits!! This 2-bedroom ranch is being sold "AS IS" and is in need of significant cosmetic-updating and improvements. Features include a spacious living room with dining room, full basement, covered front porch, fenced corner lot, and 1.5 car-detached garage. All appliances stay including Washer and Dryer! Conveniently located in the Washington Local School District. Great potential for the right buyer.

Key facts

• Covered front porch
• Full basement
• Fenced corner lot

Tags

• SPACIOUS LIVING ROOM
• FULL BASEMENT
• COVERED FRONT PORCH
• FENCED CORNER LOT

Property features AI

Exterior

• Parking: Detached garage (private); Accessible parking; Driveway; Total parking for 2 vehicles; Garage listed as 1.5 spaces
• Utilities: Public water; Sanitary sewer; Electricity available (200+ amp service, 220 volts in laundry); Natural gas available and connected
• Home design: Single-family house; One story; No shared/common walls; Corner lot; Asphalt road surface
• Construction: Brick and vinyl siding exterior; Block foundation; Asphalt roof; Built as a residential single family residence
• Exterior features: Awning(s); Front porch; Chain link fencing; Garage(s)

Interior

• Kitchen: Electric oven; Electric range connection; Refrigerator
• Bedrooms: Bedroom 2 on the main level
• Flooring: Carpet; Hardwood; Linoleum
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: 5 total rooms; Decorative fireplace; Other interior features
• Laundry & utility: Washer and dryer (washer hookup, electric dryer hookup) in basement; Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $96 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($872 rent vs $84k).
• Recommended offer: $83k (1.5% 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.
• Washington Local (urban): math 37% / reading 47% proficiency, ranked #528 of 656 in OH (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Silver Creek Elementary School (math 32% / reading 42%, grade F, #1,087 of 1,584 statewide, top 70%, 653 students, 0% FRL); Whitmer High School (math 38% / reading 48%, grade F, #494 of 781 statewide, top 63%, 2,247 students, 42% FRL) — zoned schools average 21% FRL vs 48% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.3%/yr); 111 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• This rent is only 16% of the median local income ($64k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $584 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.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($83k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,232 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — 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. 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.
6. 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.
7. 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: 1.03% ✓
• Cap rate: 7.65%
• Cash-on-cash: 4.86%
• DSCR: 1.22
• GRM: 8.1

CMA / ARV

• ARV (median comp): $137,799
• List price: $84,500
• Delta: -38.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5303 Winona Rd	0.49mi	2/1.0	850 (-0%)	1mo	$130,000	$153	76
2344 Mellwood Ave	0.16mi	2/1.0	790 (-7%)	6mo	$99,000	$125	76
2605 Wyndale Rd	0.55mi	2/1.0	816 (-4%)	6mo	$169,000	$207	63
4915 Bales Rd	0.52mi	3/1.0 (+1)	900 (+6%)	7mo	$125,000	$139	55
1643 Hagley Rd	0.72mi	2/1.0	805 (-6%)	5mo	$109,900	$137	53
2551 Elsie Ave	0.55mi	2/1.0	744 (-13%)	2mo	$134,500	$181	52
5327 Oldham Dr	0.55mi	2/1.0	952 (+12%)	7mo	$62,500	$66	49
4911 Douglas Rd	0.40mi	2/1.5	963 (+13%)	11mo	$107,500	$112	49
2040 Ketner Ave	0.52mi	3/1.0 (+1)	952 (+12%)	10mo	$142,000	$149	43
—	0.58mi	2/1.0	736 (-14%)	10mo	$115,000	$156	42
1612 Gould Rd	0.74mi	2/1.0	748 (-12%)	13mo	$52,500	$70	34
2551 Pershing Dr	0.72mi	3/1.0 (+1)	960 (+13%)	12mo	$137,500	$143	30

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 · 3.3% rent growth · sell at horizon

5-year hold

• IRR: -8.4%
• Equity multiple: 0.69×
• Total profit: $-7,313
• Equity at exit: $12,599

10-year hold

• IRR: 1.6%
• Equity multiple: 1.11×
• Total profit: $2,651
• Equity at exit: $7,306

Cash invested: $23,660 (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 43613

• Home prices YoY: -20.7%
• Rents YoY: 3.3%
• Active inventory: 111
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $872 high
• Mortgage (P&I): −$443
• Tax from tax record: −$115 /mo · $1,382/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$183
• Net cashflow: $96

Break-even live

Break-even rent $751

Max offer price $84,500

Occupancy floor 84%

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: $21,125
• Closing costs: $2,535
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2241 W Laskey Rd Toledo, OH	1.0	1.0	600	$695	$1.16	13d	1	0.10mi
2255 W Laskey Rd Unit 14 Toledo, OH	2.0	1.0	650	$775	$1.19	21d	1	0.15mi
2255 W Laskey Rd Apt 10 Toledo, OH	2.0	1.0	650	$775	$1.19	13d	1	0.15mi
4836 Douglas Rd Unit 6 Toledo, OH	1.0	1.0	600	$695	$1.16	23d	1	0.34mi
1801 Christian Ave Toledo, OH	1.0–2.0	1.0	750	$939	$1.25	13d	1	0.54mi
1733 Christian Ave Unit 2 Toledo, OH	1.0	1.0	839	$600	$0.72	23d	1	0.64mi
1733 Christian Ave Unit 5 Toledo, OH	2.0	1.0	839	$700	$0.83	43d	1	0.64mi
4435 Jackman Rd Toledo, OH	1.0–2.0	1.0	725	$922	$1.27	13d	3	0.71mi
5317 Jackman Rd Unit 4 Toledo, OH	2.0	1.0	625	$655	$1.05	23d	1	0.78mi
2527 Arletta St Toledo, OH	2.0	1.0	1100	$1,100	$1.00	43d	1	0.79mi
1732 Newport Ave Toledo, OH	3.0	1.0	896	$1,350	$1.51	23d	1	0.79mi
2244 W Sylvania Ave Unit 6 Toledo, OH	2.0	1.0	800	$795	$0.99	43d	1	0.86mi
5517 Douglas Rd Unit 5 Toledo, OH	1.0	1.0	700	$695	$0.99	43d	1	0.91mi
2027 Berkshire Pl Toledo, OH	2.0	1.0	600	$845	$1.41	23d	1	1.06mi
3940 Jackman Rd Unit B Toledo, OH	1.0	1.0	600	$650	$1.08	43d	1	1.13mi
1338 Crestwood Rd Toledo, OH	3.0	1.0	1000	$1,250	$1.25	13d	1	1.17mi
4030 Elmhurst Rd Apt 2 Toledo, OH	2.0	1.0	875	$900	$1.03	43d	1	1.20mi
4030 Elmhurst Rd Toledo, OH	2.0	1.0	800	$900	$1.12	23d	1	1.20mi
5834 Yermo Dr Toledo, OH	1.0–2.0	1.0–2.0	870	$909	$1.04	13d	12	1.23mi
3683 Upton Ave Toledo, OH	3.0	1.0	1119	$1,100	$0.98	43d	1	1.30mi
3640 Douglas Rd Toledo, OH	1.0	1.0	720	$784	$1.09	43d	1	1.32mi
3644 Harley Rd Toledo, OH	2.0	1.0	1025	$975	$0.95	23d	1	1.32mi
1951 Loxley Rd Toledo, OH	2.0	1.0	804	$975	$1.21	23d	1	1.33mi
2132 Stirrup Ln Toledo, OH	2.0	1.0	900	$1,035	$1.15	43d	3	1.33mi
3801 Torrance Dr Unit 3801 4 Toledo, OH	1.0	1.0	750	$600	$0.80	23d	1	1.34mi
1846 Loxley Rd Toledo, OH	2.0	1.0	876	$900	$1.03	43d	1	1.35mi
1732 Talbot St Toledo, OH	2.0	1.0	840	$995	$1.18	23d	1	1.35mi
3901 Leybourn Ave Toledo, OH	3.0	1.0	840	$1,150	$1.37	23d	1	1.36mi
5080 Secor Rd Toledo, OH	1.0–2.0	1.0–1.5	699	$925	$1.32	43d	1	1.37mi
3817 Burton Ave Toledo, OH	3.0	1.0	754	$1,015	$1.35	21d	1	1.39mi
3065 Tremainsville Rd Toledo, OH	1.0–2.0	1.0	800	$929	$1.16	13d	1	1.42mi
1489 Berdan Ave Toledo, OH	3.0	1.0	1068	$1,250	$1.17	43d	1	1.45mi
5360 Secor Rd Unit 316 Toledo, OH	2.0	1.0	900	$699	$0.78	23d	1	1.47mi
5360 Secor Rd Unit 312 Toledo, OH	1.0	1.0	700	$599	$0.86	23d	1	1.47mi
3353 W Laskey Rd Unit 2 Toledo, OH	3.0	1.0	750	$850	$1.13	21d	1	1.47mi
5133 Secor Rd Toledo, OH	2.0	2.0	850	$1,099	$1.29	23d	1	1.49mi
3355 W Laskey Rd Toledo, OH	2.0	1.0	750	$850	$1.13	13d	2	1.49mi
3355 W Laskey Rd Apt 24 Toledo, OH	2.0	1.0	750	$850	$1.13	23d	1	1.49mi

Listing history 7 events

1. 2026-06-07
   status $84,500 Pending 21 DOM
2. 2026-06-03
   days on market $84,500 Active 21 DOM
3. 2026-06-02
   days on market $84,500 Active 20 DOM
4. 2026-06-01
   days on market $84,500 Active 19 DOM
5. 2026-05-31
   days on market $84,500 Active 18 DOM
6. 2026-05-30
   days on market $84,500 Active 17 DOM
7. 2026-05-13
   listed $102,000 Active 428-char remark

ⓘ 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: $1,382 · $115/mo
• Projected year-2 tax: $1,382 · $115/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 ≥101°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: $10,470
• − Mortgage interest: −$4,733
• − Property taxes: −$1,382
• − Insurance: −$422
• − Repairs & maintenance: −$838
• − Management: −$838
• − Depreciation: −$2,458
• Taxable loss: −$202
• Est. tax savings @ 24.0%: +$48
• After-tax cash flow: $1,197/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: Washington Local
• NCES district ID: 3904823
• Math proficiency: 37% ▼ -20.00%
• Reading proficiency: 47% ▼ -11.00%
• Median HH income: $42,105
• Composite: 35.36/100
• National rank: #4957
• State rank: #528 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): 30,780
• Household income: $64,384
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 917.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Black 15% Two or more races 10% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 9% Lithuanian 3% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% Arabic 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: ▼ -62.37%
• Current HPI: 239.1345
• Rent YoY: ▲ 3.30%
• 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

-17.2% since first listed

3 events — show timeline

• 2026-06-03 Pending — NORIS
• 2026-05-28 Price Changed $84,500 NORIS
• 2026-05-13 Listed $102,000 NORIS

Property tax history

+5.2%/yr

Latest (2025): $1,382 · -0.7% YoY. Source: county tax records.