1038 Prouty Ave · Toledo, OH 43609

$59,900

3 bd · 1.0 ba · 1,114 sqft · SingleFamily public records · 7 Days on market

Built 1905 8,520 sqft lot Est $69k · 13% under

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Why this score? — see what drove the A- 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 +13.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.4/10.0
• Rent growth +4.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks MLS

LENDER OWNED PLEASE SUBMIT PROOF OF FUNDS WITH OFFER. EARNEST MONEY TO BE SENT TO SELLER'S TITLE COMPANY.

Key facts

• New furnace
• New flooring
• Income producing

Tags

• INCOME PRODUCING
• TURNKEY INVESTMENT
• RECENT IMPROVEMENTS
• NEW FLOORING
• NEW KITCHEN CABINETS
• NEW FURNACE

Property features AI

Exterior

• Parking: Other parking (unspecified)
• Utilities: Electricity connected; Public water; Public sewer
• Home design: Single-family residence; Two levels / 2 stories; Not attached to other properties; No common walls
• Construction: Vinyl siding; Other foundation details
• Exterior features: Shingle roof

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Bedrooms located on upper level (two bedrooms listed); Bedroom sizes approximately 11 x 9 and 10 x 10
• Flooring: Carpet flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Total of 6 rooms; Other interior features
• Laundry & utility: Laundry features listed (details not specified)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $364 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($989 rent vs $60k).
• Cap rate 13.6% 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: Marshall Stemm Academy (math 2% / reading 8%, grade F, #1,554 of 1,584 statewide, top 100%, 374 students, 0% FRL); Jesup W. Scott High School (math 8% / reading 17%, grade F, #726 of 781 statewide, top 94%, 736 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 (+7.8%/yr); 99 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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).

Forward outlook

• In year one you build about $863 of equity ($414 loan paydown + $449 appreciation (0.8% local appreciation)).
• Lucas County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.8% appreciation + 7.8% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 25y ago; this cycle's ask is 6205% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,900

Questions for the listing agent

1. Built in 1905 — 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: 1.65% ✓
• Cap rate: 13.58%
• Cash-on-cash: 26.04%
• DSCR: 2.16
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $69,068
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1127 Harding Dr	0.20mi	3/1.0	1,104 (-1%)	4mo	$22,000	$20	86
445 Hiett Ave	0.34mi	3/1.0	1,144 (+3%)	3mo	$33,000	$29	77
1152 Colton St	0.26mi	3/1.0	1,046 (-6%)	1mo	$65,000	$62	77
1057 Harding Dr	0.16mi	3/2.0	1,184 (+6%)	4mo	$98,500	$83	75
1321 Gordon St	0.48mi	3/1.0	1,131 (+2%)	5mo	$70,600	$62	71
837 Orchard St	0.32mi	3/1.0	1,224 (+10%)	1mo	$19,000	$16	68
678 Lorain St	0.21mi	3/1.0	1,006 (-10%)	7mo	$26,000	$26	68
511 Congress St	0.55mi	3/1.0	1,109 (-0%)	6mo	$55,000	$50	68
1402 Prouty Ave	0.44mi	3/1.0	1,030 (-8%)	1mo	$50,000	$49	66
624 Carlton St	0.63mi	3/2.0	1,013 (-9%)	2mo	$134,888	$133	50
1461 Ingomar Ave	0.55mi	3/2.0	1,008 (-10%)	7mo	$79,900	$79	49
717 Segur Ave	0.73mi	2/1.0 (-1)	1,188 (+7%)	2mo	$79,000	$66	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.75% appreciation · 7.8% rent growth · sell at horizon

5-year hold

• IRR: 32.0%
• Equity multiple: 2.70×
• Total profit: $28,592
• Equity at exit: $19,671

10-year hold

• IRR: 37.4%
• Equity multiple: 6.24×
• Total profit: $87,866
• Equity at exit: $25,551

Cash invested: $16,772 (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 43609

• Home prices YoY: 0.3%
• Rents YoY: 7.8%
• Active inventory: 99
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $989 high
• Mortgage (P&I): −$314
• Tax from tax record: −$78 /mo · $939/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $364

Break-even live

Break-even rent $528

Max offer price $59,900

Occupancy floor 58%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
837 Colburn St Unit 1 Toledo, OH	2.0	1.0	1178	$700	$0.59	44d	1	0.32mi
837 Colburn St Unit 2 Toledo, OH	2.0	1.0	1158	$695	$0.60	23d	1	0.32mi
827 Colburn St Toledo, OH	2.0	1.0	1092	$750	$0.69	44d	1	0.34mi
771 Orchard St Unit 7715 Toledo, OH	2.0	1.0	1086	$645	$0.59	23d	1	0.39mi
1418 Colburn St Toledo, OH	3.0	1.0	992	$1,200	$1.21	14d	1	0.49mi
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	44d	1	0.49mi
2424 Broadway St Toledo, OH	3.0	1.0	1416	$1,049	$0.74	14d	1	0.50mi
724 Spencer St Toledo, OH	3.0	1.5	1127	$1,100	$0.98	44d	1	0.62mi
532 Carlton St Toledo, OH	3.0	1.0	1130	$1,050	$0.93	44d	1	0.64mi
523 Nicholas St Toledo, OH	3.0	1.0	1290	$1,350	$1.05	14d	1	0.68mi
705 Nicholas St Toledo, OH	2.0	1.0	1037	$900	$0.87	44d	1	0.68mi
2594 Broadway St Toledo, OH	2.0	1.0	1076	$825	$0.77	44d	1	0.85mi
244 Knower St Toledo, OH	3.0	1.0	1120	$995	$0.89	14d	1	1.04mi
1734 Arlington Ave Toledo, OH	2.0	1.0	700	$800	$1.14	14d	1	1.06mi
319 N Detroit Ave Toledo, OH	3.0	1.0	1341	$845	$0.63	44d	1	1.37mi
337 Broadway St Unit 201 Toledo, OH	2.0	1.0	1455	$1,650	$1.13	23d	1	1.45mi
2044 Arlington Ave Toledo, OH	2.0	1.0	800	$825	$1.03	21d	1	1.46mi

Listing history 6 events

1. 2026-06-18
   days on market $59,900 Coming Soon 7 DOM
2. 2026-06-17
   days on market $59,900 Coming Soon 6 DOM
3. 2026-06-16
   days on market $59,900 Coming Soon 5 DOM
4. 2026-06-15
   days on market $59,900 Coming Soon 4 DOM
5. 2026-06-14
   remarks 699-char remark
6. 2026-06-14
   listed $59,900 Coming Soon 2 DOM

ⓘ 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: $939 · $78/mo
• Projected year-2 tax: $939 · $78/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 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $11,868
• − Mortgage interest: −$3,355
• − Property taxes: −$939
• − Insurance: −$300
• − Repairs & maintenance: −$949
• − Management: −$949
• − Depreciation: −$1,743
• Taxable income: $3,632
• Est. tax owed @ 24.0%: −$872
• After-tax cash flow: $3,495/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): 21,404
• Household income: $42,313
• Rent vs Own: 55.7% rent · 44.3% own
• Severe rent burden: 1603.0

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 0.66)
• Race & ethnicity: White 47% Black 29% Hispanic / Latino 17% Two or more races 9%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Arabic 1% French/Haitian/Cajun 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: ▲ 0.75%
• Current HPI: 235.2515
• Rent YoY: ▲ 7.80%
• 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

+199.5% since first listed

31 events — show timeline

• 2026-06-11 Coming Soon $59,900 NORIS
• 2025-10-14 Price Changed $5,000 NORIS
• 2025-10-14 Price Changed $50,000 NORIS
• 2025-10-02 Rental Removed $645 RENTLY
• 2025-09-21 Price Changed $645 RENTLY
• 2025-05-14 Listed for Rent $950 RENTLY
• 2024-11-12 Listing Removed — NORIS
• 2024-10-28 Price Changed $84,900 NORIS
• 2024-10-18 Listed $89,900 NORIS
• 2024-09-27 Coming Soon — NORIS
• 2023-09-29 Sold (Public Records) $199,000 Public Records
• 2023-09-22 Pending — NORIS
• 2023-09-21 Sold (MLS) $50,000 NORIS
• 2023-08-08 Contingent — NORIS
• 2023-08-04 Listed $55,000 NORIS
• 2023-02-13 Sold (MLS) $17,900 NORIS
• 2023-02-03 Pending — NORIS
• 2023-02-01 Listed $17,900 NORIS
• 2023-01-20 Listing Removed — NORIS
• 2022-10-19 Price Changed $27,900 NORIS
• 2022-08-01 Listed $29,900 NORIS
• 2020-05-04 Sold (Public Records) $341,500 Public Records
• 2018-06-27 Sold (Public Records) $25,000 Public Records
• 2007-11-15 Sold (MLS) $5,000 NORIS
• 2007-07-13 Listed $5,900 NORIS
• 2005-12-31 Listing Removed — NORIS
• 2005-08-27 Listed $47,000 NORIS
• 2004-02-05 Sold (Public Records) $39,000 Public Records
• 2001-08-15 Listing Removed — NORIS
• 2001-05-15 Listed $36,000 NORIS
• 1997-11-12 Sold (Public Records) $20,000 Public Records

Property tax history

+9.7%/yr

Latest (2025): $939 · +10.2% YoY. Source: county tax records.