3514 Willys Pkwy · Toledo, OH 43612

$74,900

3 bd · 1.0 ba · 1,312 sqft · SingleFamily public records · 19 Days on market

Built 1916 5,401 sqft lot Est $75k · at est.

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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 +7.4/15.0
• Rent growth +4.0/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Key facts

• Formal dining
• Next to park
• Rear covered patio

Tags

• FORMAL DINING
• BONUS SUN RM
• REAR COVERED PATIO
• TONS OF PARKING
• NEXT TO POOLS
• NEXT TO PARK

Property features AI

Finance

• HOA & community: Community features include curbs, park, playground, and street lights

Exterior

• Parking: Detached garage; Total parking for 4 vehicles; 1-car garage; Driveway and off-street parking, additional parking available
• Security: Smart camera(s)/recording (interior feature)
• Utilities: Electricity connected (circuit breakers); Natural gas available and connected; Public water; Public sewer; Sewer and water available
• Home design: Residential single-family house; Not attached to other units (no common walls); Two levels (2 stories)
• Construction: Aluminum siding; Block foundation; Shingle roof; Built year source: Public records
• Exterior features: Garden; Covered patio; Level lot; City street frontage; Asphalt road surface; Fencing: Other

Interior

• Kitchen: Kitchen on main level; Water heater listed among appliances
• Bedrooms: Main-level living room and bonus room that can serve as a 4th bedroom/office/den/TV room; Upper-level bedrooms (two listed as Bedroom 2 and Bedroom 3)
• Flooring: Carpet
• Bathrooms: One full bathroom; One half bathroom (1.5 total)
• Heating & cooling: Central heating; Forced air
• Interior features: No interior steps; Smart camera(s)/recording; Screens on windows; Door screens
• Laundry & utility: Laundry in basement; Electric dryer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $513 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.5% 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: Whittier Elementary School (math 6% / reading 13%, grade F, #1,505 of 1,584 statewide, top 95%, 509 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 fast (+6.0%/yr); 92 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $518 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 + 6.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $46k; list at $75k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $73,776 (1.5% below list)

Questions for the listing agent

1. Built in 1916 — 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: 1.68% ✓
• Cap rate: 14.51%
• Cash-on-cash: 29.34%
• DSCR: 2.31
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $74,784
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3514 Willys Pkwy	0.00mi	3/1.5	1,312 (0%)	1mo	$64,900	$49	97
3713 Drexel Dr	0.25mi	3/1.0	1,356 (+3%)	1mo	$115,000	$85	82
3726 Leybourn Ave	0.45mi	3/1.0	1,245 (-5%)	2mo	$100,000	$80	68
3940 Vermaas Ave	0.72mi	3/1.0	1,305 (-0%)	2mo	$70,000	$54	64
3948 Vermaas Ave	0.74mi	3/1.0	1,296 (-1%)	1mo	$60,000	$46	63
3868 Eggeman Ave	0.68mi	3/1.0	1,262 (-4%)	1mo	$70,000	$55	61
3515 Watson Ave	0.36mi	3/2.0	1,157 (-12%)	0mo	$150,000	$130	59
3244 Glenwood Ave	0.61mi	3/1.0	1,223 (-7%)	2mo	$36,000	$29	58
3938 Berkeley Dr	0.48mi	3/1.0	1,472 (+12%)	1mo	$120,000	$82	56
3240 N Detroit Ave	0.67mi	3/1.0	1,208 (-8%)	2mo	$26,667	$22	54
4125 N Lockwood Ave	0.59mi	3/1.5	1,506 (+15%)	2mo	$109,900	$73	44
4228 N Lockwood Ave	0.72mi	3/2.0	1,493 (+14%)	0mo	$85,000	$57	39

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 · 6.01% rent growth · sell at horizon

5-year hold

• IRR: 27.0%
• Equity multiple: 2.16×
• Total profit: $24,428
• Equity at exit: $11,168

10-year hold

• IRR: 36.3%
• Equity multiple: 4.83×
• Total profit: $80,393
• Equity at exit: $6,476

Cash invested: $20,972 (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 43612

• Home prices YoY: -17.5%
• Rents YoY: 6.0%
• Active inventory: 92
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,255 high
• Mortgage (P&I): −$393
• Tax from tax record: −$55 /mo · $660/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $513

Break-even live

Break-even rent $606

Max offer price $74,900

Occupancy floor 54%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3541 Willys Pkwy Toledo, OH	3.0	1.0	1113	$1,400	$1.26	43d	1	0.05mi
3615 Berkeley Dr Toledo, OH	3.0	1.0	1096	$1,400	$1.28	13d	1	0.23mi
3725 Hoiles Ave Toledo, OH	3.0	1.0	1180	$1,245	$1.06	23d	1	0.26mi
3805 Hoiles Ave Toledo, OH	3.0	1.0	1370	$1,025	$0.75	23d	1	0.28mi
3606 Revere Dr Toledo, OH	4.0	1.0	1320	$1,500	$1.14	43d	1	0.28mi
3713 Hazelhurst Ave Toledo, OH	3.0	1.5	1352	$1,700	$1.26	43d	1	0.29mi
1014 Berdan Ave Toledo, OH	3.0	1.0	1215	$1,200	$0.99	43d	1	0.33mi
3915 Willys Pkwy Unit 3915 Toledo, OH	3.0	1.0	1080	$800	$0.74	21d	1	0.35mi
1489 Berdan Ave Toledo, OH	3.0	1.0	1068	$1,250	$1.17	43d	1	0.47mi
1477 W Sylvania Ave Toledo, OH	3.0	1.0	1570	$1,250	$0.80	43d	1	0.57mi
1016 Mallett St Unit 1 Toledo, OH	2.0	1.0	1300	$900	$0.69	43d	1	0.59mi
4138 N Lockwood Ave Toledo, OH	2.0	1.0	1300	$1,050	$0.81	23d	1	0.60mi
4158 Mayfield Dr Toledo, OH	2.0	1.0	960	$850	$0.89	13d	1	0.66mi
4120 Parrakeet Ave Toledo, OH	3.0	2.0	1410	$1,450	$1.03	43d	1	0.67mi
4038 Lyman Ave Toledo, OH	3.0	1.0	1175	$1,395	$1.19	43d	1	0.68mi
4223 Birchall Rd Toledo, OH	3.0	1.0	1338	$1,395	$1.04	23d	1	0.74mi
614 Cadillac Ct Toledo, OH	3.0	1.0	1581	$1,075	$0.68	23d	1	0.75mi
610 Cadillac Ct Toledo, OH	3.0	1.0	1409	$1,050	$0.75	23d	1	0.76mi
4039 Vermaas Ave Toledo, OH	2.0	1.0	900	$900	$1.00	23d	1	0.77mi
3950 Woodhaven Dr Toledo, OH	2.0	1.0	1072	$745	$0.69	23d	1	0.78mi
1731 Mansfield Rd Toledo, OH	3.0	1.0	1138	$1,195	$1.05	23d	1	0.78mi
3905 Peru St Toledo, OH	4.0	3.0	1548	$1,300	$0.84	21d	1	0.81mi
4129 Vermaas Ave Toledo, OH	3.0	1.5	1385	$1,250	$0.90	43d	1	0.82mi
4124 Vermaas Ave Toledo, OH	2.0	1.0	1245	$997	$0.80	43d	1	0.83mi
1718 Giant St Toledo, OH	3.0	1.0	1080	$1,395	$1.29	13d	1	0.85mi
1573 Jermain Dr Toledo, OH	3.0	1.0	1254	$1,195	$0.95	13d	1	0.86mi
2907 Rockwood Pl Toledo, OH	3.0	1.0	1494	$1,100	$0.74	13d	1	0.90mi
1846 Loxley Rd Toledo, OH	2.0	1.0	876	$900	$1.03	43d	1	0.92mi
4140 Caroline Ave Toledo, OH	3.0	1.5	1378	$1,650	$1.20	23d	1	0.94mi
4459 N Haven Ave Toledo, OH	3.0	1.0	1416	$1,200	$0.85	13d	1	0.95mi
1804 Bigelow St Toledo, OH	3.0	1.0	995	$937	$0.94	43d	1	0.96mi
3683 Upton Ave Toledo, OH	3.0	1.0	1119	$1,100	$0.98	43d	1	0.96mi
4220 Caroline Ave Toledo, OH	3.0	1.0	944	$1,095	$1.16	43d	1	0.97mi
1838 Giant St Toledo, OH	3.0	1.0	962	$1,200	$1.25	13d	1	0.99mi
4406 Asbury Dr Toledo, OH	4.0	2.0	1089	$1,550	$1.42	13d	1	1.00mi
1436 Palmetto Ave Toledo, OH	3.0	1.0	1678	$1,400	$0.83	23d	1	1.00mi
960 W Delaware Ave Toledo, OH	3.0	1.0	1224	$1,050	$0.86	23d	1	1.04mi
4315 Garden Park Dr Toledo, OH	3.0	1.0	1268	$1,423	$1.12	23d	1	1.09mi
425 Boston Pl Unit A Toledo, OH	2.0	1.0	1200	$895	$0.75	23d	1	1.11mi
2447 Maplewood Ave Toledo, OH	2.0	1.0	1538	$897	$0.58	43d	1	1.19mi

Listing history 5 events

1. 2026-05-14
   historical Contingent
2. 2026-05-08
   listed $74,900 Active
3. 1996-07-17
   soldstatus $46,500
4. 1993-05-14
   soldstatus $20,000
5. 1993-02-08
   soldstatus $20,000

ⓘ 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: $660 · $55/mo
• Projected year-2 tax: $914 · $76/mo
• Expected delta: +$254/yr (+$21/mo · 38.5%)

ⓘ 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: $15,064
• − Mortgage interest: −$4,196
• − Property taxes: −$660
• − Insurance: −$374
• − Repairs & maintenance: −$1,205
• − Management: −$1,205
• − Depreciation: −$2,179
• Taxable income: $5,244
• Est. tax owed @ 24.0%: −$1,259
• After-tax cash flow: $4,894/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): 28,480
• Household income: $50,728
• Rent vs Own: 45.4% rent · 54.6% own
• Severe rent burden: 1203.0

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: Majority White (63%)
• Race & ethnicity: White 63% Black 23% Two or more races 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Romanian 9% Lithuanian 3% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% 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: ▼ -50.05%
• Current HPI: 235.5389
• Rent YoY: ▲ 6.01%
• 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

+274.5% since first listed

5 events — show timeline

• 2026-05-14 Contingent — NORIS
• 2026-05-08 Listed $74,900 NORIS
• 1996-07-17 Sold (Public Records) $46,500 Public Records
• 1993-05-14 Sold (Public Records) $20,000 Public Records
• 1993-02-08 Sold (Public Records) $20,000 Public Records

Property tax history

-4.5%/yr

Latest (2025): $660 · +38.7% YoY. Source: county tax records.