909 Prospect Ave · Toledo, OH 43606

$65,000

3 bd · 1.0 ba · 1,590 sqft · SingleFamily public records · 56 Days on market

Built 1916 6,400 sqft lot Est $78k · 17% under

---

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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.3/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Key facts

• 6,400 sq ft lot
• Garage
• Built 1916

Property features AI

Finance

• Other: Property type: Residential — Single Family Residence; Living area (source: Assessor); Lot size approximately 0.15 acre

Exterior

• Parking: Detached garage; 1 garage space; Total 4 parking spaces
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer
• Home design: Single-family house; Two levels / 2 stories; Not attached; No common walls
• Construction: Wood siding exterior; Block foundation; Built (year source: Assessor)
• Exterior features: Corner lot; City street frontage; Asphalt road surface; Asphalt shingle roof

Interior

• Kitchen: Kitchen on main level; Water heater
• Bedrooms: Primary bedroom (Upper); Bedroom 2 (Upper); Bedroom 3 (Upper)
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas boiler heating; Window cooling units
• Interior features: Storage; Ceiling fans; 1 fireplace in the family room; Basement (block)
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $392 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 7.6% in Toledo — 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 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: Robinson Elementary School (math 2% / reading 2%, grade F, #1,580 of 1,584 statewide, top 100%, 358 students, 0% FRL); Start High School (math 11% / reading 33%, grade F, #672 of 781 statewide, top 86%, 1,242 students, 50% 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 (+2.3%/yr); 93 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k 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 + 2.3% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 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 1916 — 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: 1.70% ✓
• Cap rate: 13.53%
• Cash-on-cash: 25.83%
• DSCR: 2.15
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $77,910
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
929 Norwood Ave	0.23mi	3/2.0	1,451 (-9%)	4mo	$80,000	$55	67
927 Norwood Ave	0.22mi	3/2.0	1,439 (-10%)	4mo	$70,000	$49	66
1264 Fernwood Ave	0.59mi	4/1.0 (+1)	1,614 (+2%)	2mo	$125,000	$77	63
916 Fernwood Ave	0.26mi	3/2.5	1,394 (-12%)	2mo	$150,000	$108	59
1508 Bell Ave	0.52mi	3/2.0	1,521 (-4%)	9mo	$23,650	$16	57
1308 Grand Ave	0.50mi	4/1.5 (+1)	1,468 (-8%)	6mo	$27,500	$19	51
1109 City Park Park	0.62mi	4/2.0 (+1)	1,531 (-4%)	6mo	$4,500	$3	50
1311 Fitchland Ave	0.48mi	4/2.0 (+1)	1,480 (-7%)	9mo	$127,500	$86	50
619 Pinewood Ave	0.63mi	4/1.5 (+1)	1,444 (-9%)	6mo	$65,000	$45	43
820 N Miller St	0.67mi	4/1.5 (+1)	1,428 (-10%)	3mo	$50,000	$35	42
1352 Prospect Ave	0.62mi	3/1.0	1,358 (-15%)	8mo	$49,000	$36	40
1449 Norwood Ave	0.71mi	4/2.0 (+1)	1,484 (-7%)	11mo	$135,000	$91	37

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 · 2.29% rent growth · sell at horizon

5-year hold

• IRR: 18.7%
• Equity multiple: 1.75×
• Total profit: $13,675
• Equity at exit: $9,692

10-year hold

• IRR: 26.6%
• Equity multiple: 3.25×
• Total profit: $41,020
• Equity at exit: $5,620

Cash invested: $18,200 (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 43606

• Home prices YoY: -15.5%
• Rents YoY: 2.3%
• Active inventory: 93
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,103 high
• Mortgage (P&I): −$341
• Tax from tax record: −$112 /mo · $1,343/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $392

Break-even live

Break-even rent $607

Max offer price $65,000

Occupancy floor 59%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1026 Oakwood Ave Toledo, OH	2.0	1.0	1100	$850	$0.77	43d	1	0.20mi
1140 Palmwood Ave Toledo, OH	3.0	1.0	1292	$1,500	$1.16	43d	1	0.47mi
1122 Pinewood Ave Toledo, OH	3.0	1.0	1559	$1,150	$0.74	13d	1	0.61mi
2447 Maplewood Ave Toledo, OH	2.0	1.0	1538	$897	$0.58	43d	1	0.73mi
960 W Delaware Ave Toledo, OH	3.0	1.0	1224	$1,050	$0.86	23d	1	0.85mi
2117 Clinton St Toledo, OH	3.0	1.0	1256	$1,115	$0.89	43d	1	1.02mi
2131 Franklin Ave Toledo, OH	2.0	2.0	1255	$900	$0.72	43d	1	1.04mi
119 Winthrop St Toledo, OH	3.0	1.0	1734	$1,350	$0.78	23d	1	1.07mi
322 14th St Apt 203 Toledo, OH	3.0	1.5	1065	$1,000	$0.94	13d	1	1.15mi
1436 Palmetto Ave Toledo, OH	3.0	1.0	1678	$1,400	$0.83	23d	1	1.16mi
2907 Rockwood Pl Toledo, OH	3.0	1.0	1494	$1,100	$0.74	13d	1	1.26mi
425 Boston Pl Unit A Toledo, OH	2.0	1.0	1200	$895	$0.75	23d	1	1.29mi
319 N Detroit Ave Toledo, OH	3.0	1.0	1341	$845	$0.63	43d	1	1.45mi
2356 Torrey Hill Dr Unit 11 Toledo, OH	2.0	1.0	1050	$800	$0.76	43d	1	1.48mi

Listing history 3 events

1. 2026-05-13
   status Pending
2. 2026-04-07
   historical Contingent
3. 2026-03-18
   listed $65,000 Active

ⓘ 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: $1,343 · $112/mo
• Projected year-2 tax: $1,343 · $112/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: $13,240
• − Mortgage interest: −$3,641
• − Property taxes: −$1,343
• − Insurance: −$325
• − Repairs & maintenance: −$1,059
• − Management: −$1,059
• − Depreciation: −$1,891
• Taxable income: $3,922
• Est. tax owed @ 24.0%: −$941
• After-tax cash flow: $3,761/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): 24,898
• Household income: $66,917
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 843.0

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: White 59% Black 29% Two or more races 7% Hispanic / Latino 4% Asian 3%
• Common ancestry: Romanian 6% Italian 2% Lithuanian 1%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 92% English-only · Arabic 2% Other Indo-European 2% Spanish 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: ▼ -41.19%
• Current HPI: 224.695
• Rent YoY: ▲ 2.29%
• 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

3 events — show timeline

• 2026-05-13 Pending — NORIS
• 2026-04-07 Contingent — NORIS
• 2026-03-18 Listed $65,000 NORIS

Property tax history

+20.5%/yr

Latest (2025): $1,343 · +74.3% YoY. Source: county tax records.