1002 Elysian Ave · Toledo, OH 43607

$36,400

2 bd · 1.0 ba · 832 sqft · SingleFamily public records · 21 Days on market

Built 1917 7,600 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

This as-is property is looking for new owners. This property has 870 sqft with 2 bed and 1 bath, living room, dinning room and an eat in kitchen. This property features 2 garages, one has access from the alley. Please see link to submit all offers. http://www. spsreo.com/?c=DUMG

Key facts

• 7,600 sq ft lot
• 2 garage spots
• Built 1917

Property features AI

Exterior

• Parking: 2-car garage; 3 total parking spaces; Alley access and additional parking
• Utilities: Public water; Public sewer; 100 amp electric service; Other utilities
• Home design: Single-family house; One story
• Construction: Vinyl siding; Block foundation; Shingle roof; Built (year per public records)
• Exterior features: Private yard; Enclosed porch; Chain link and wood fencing

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Bedroom 2 on the main level
• Flooring: Carpet; Linoleum
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas
• Interior features: Eat-in kitchen; 5 total rooms; Partial unfinished block basement
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $36k.

Deal economics

• At list price, monthly cash flow is $570 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $36k).
• Recommended offer: $36k (1.5% below list) — sets the bar for market timing.
• Cap rate 25.1% vs local median 7.7% 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: 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); 85 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% 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 33% 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 $252 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($36k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,854 (1.5% below list)

Questions for the listing agent

1. Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 3.11% ✓
• Cap rate: 25.09%
• Cash-on-cash: 67.12%
• DSCR: 3.99
• GRM: 2.7

CMA / ARV

• ARV (on-the-fly): $74,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
923 Mackow Dr	0.39mi	2/1.0	768 (-8%)	1mo	$115,000	$150	68
2925 Avondale Ave	0.14mi	3/1.5 (+1)	946 (+14%)	2mo	$92,900	$98	62
1006 Turner Ave	0.06mi	2/1.0	714 (-14%)	17mo	$57,500	$81	59
631 Ranch Dr	0.32mi	2/1.0	766 (-8%)	18mo	$55,000	$72	57
908 Coventry Ave	0.71mi	2/1.0	860 (+3%)	6mo	$55,000	$64	56
1720 Perth St	0.68mi	2/1.0	808 (-3%)	12mo	$96,000	$119	54
824 N University Ave	0.74mi	3/1.0 (+1)	797 (-4%)	1mo	$60,000	$75	53
1320 Fairlawn Ave	0.37mi	3/1.0 (+1)	886 (+6%)	18mo	$55,000	$62	52
910 Moran Ave	0.43mi	2/2.0	872 (+5%)	21mo	$78,500	$90	50
1730 Wyndhurst Rd	0.62mi	2/2.0	806 (-3%)	20mo	$100,000	$124	46
3306 Nebraska Ave	0.64mi	2/1.0	947 (+14%)	12mo	$125,000	$132	36
1024 Coventry Ave	0.72mi	2/1.0	748 (-10%)	17mo	$31,000	$41	36

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: 72.6%
• Equity multiple: 4.58×
• Total profit: $36,456
• Equity at exit: $5,427

10-year hold

• IRR: 78.0%
• Equity multiple: 11.40×
• Total profit: $105,984
• Equity at exit: $3,147

Cash invested: $10,192 (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: 2.7×

Monthly cashflow live

• Estimated rent: $1,132 high
• Mortgage (P&I): −$191
• Tax from tax record: −$118 /mo · $1,420/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $570

Break-even live

Break-even rent $411

Max offer price $36,400

Occupancy floor 45%

Sensitivity live

Price	-10% $591	-5% $580	+0% $570	+5% $560	+10% $549
Rent	-10% $481	-5% $525	+0% $570	+5% $615	+10% $660
Rate	-1.0pp $588	-0.5pp $579	base $570	+0.5pp $561	+1.0pp $551

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: $9,100
• Closing costs: $1,092
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
932 Turner Ave Toledo, OH	2.0	1.0	960	$1,295	$1.35	15d	1	0.04mi
1700 Secor Rd Toledo, OH	1.0–2.0	1.0	790	$1,199	$1.52	15d	1	0.68mi
3414 Dorr St Toledo, OH	1.0–2.0	1.0–1.5	570	$825	$1.45	25d	5	0.74mi
1919 Kensington Rd Toledo, OH	1.0	1.0	680	$775	$1.14	22d	1	0.74mi
1133 Parkside Blvd Toledo, OH	2.0	1.0	960	$850	$0.89	45d	1	0.80mi
2637 Greenway St Toledo, OH	2.0	1.0	1082	$900	$0.83	45d	1	0.81mi
2030 Wyndhurst Rd Toledo, OH	2.0	1.0	1042	$950	$0.91	45d	1	0.82mi
2535 W Bancroft St Unit 8 Toledo, OH	2.0	1.0	900	$895	$0.99	45d	1	0.97mi
2445 W Bancroft St Unit 2445-15 Toledo, OH	1.0	1.0	557	$625	$1.12	45d	1	1.01mi
2314 Airline Ave Toledo, OH	3.0	1.0	1123	$1,478	$1.32	25d	1	1.21mi
3776 Hill Ave Toledo, OH	1.0–2.0	1.0	650	$735	$1.13	45d	1	1.30mi
1785 Tecumseh St Toledo, OH	2.0	1.0	930	$900	$0.97	45d	1	1.33mi
307 Danberry St Toledo, OH	2.0	1.0	988	$950	$0.96	45d	1	1.33mi
2820 Airport Hwy Toledo, OH	1.0	1.0	580	$679	$1.17	45d	1	1.46mi
2820 Airport Hwy Toledo, OH	1.0	1.0	580	$704	$1.21	25d	1	1.46mi
2820 Airport Hwy Toledo, OH	1.0	1.0	580	$679	$1.17	15d	1	1.46mi
2250 Torrey Hill Dr Unit 2254-5 Toledo, OH	1.0	1.0	563	$770	$1.37	45d	1	1.47mi
2704 Kenwood Blvd Toledo, OH	1.0–3.0	1.0	825	$1,196	$1.45	15d	71	1.49mi

Listing history 12 events

1. 2026-06-14
   statusdays on market $36,400 Pending 21 DOM
2. 2026-06-10
   days on market $36,400 Active 20 DOM
3. 2026-06-09
   days on market $36,400 Active 19 DOM
4. 2026-06-08
   days on market $36,400 Active 18 DOM
5. 2026-06-07
   days on market $36,400 Active 17 DOM
6. 2026-06-05
   days on market $36,400 Active 14 DOM
7. 2026-06-03
   days on market $36,400 Active 13 DOM
8. 2026-06-02
   days on market $36,400 Active 12 DOM
9. 2026-06-01
   days on market $36,400 Active 11 DOM
10. 2026-05-31
    days on market $36,400 Active 10 DOM
11. 2026-05-30
    days on market $36,400 Active 9 DOM
12. 2026-05-21
    listed $36,400 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: $1,420 · $118/mo
• Projected year-2 tax: $1,420 · $118/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 3/10 Moderate FEMA zone X (unshaded) · 18% 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: $13,587
• − Mortgage interest: −$2,039
• − Property taxes: −$1,420
• − Insurance: −$182
• − Repairs & maintenance: −$1,087
• − Management: −$1,087
• − Depreciation: −$1,059
• Taxable income: $6,713
• Est. tax owed @ 24.0%: −$1,611
• After-tax cash flow: $5,230/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

1 event — show timeline

• 2026-05-21 Listed $36,400 NORIS

Property tax history

+6.5%/yr

Latest (2025): $1,420 · +0.1% YoY. Source: county tax records.