1015 Belmont Ave · Toledo, OH 43607

$83,000

2 bd · 1.5 ba · 942 sqft · SingleFamily public records · 2 Days on market

Built 1887 3,800 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
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• 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 MLS

Welcome to this charming 2 bed, 1 bath home featuring an open living and kitchen layout with updated kitchen and bathroom, new flooring, and fresh paint. Schedule your showing today!

Key facts

• 3,800 sq ft lot
• 3 parking spots
• Built 1887

Property features AI

Exterior

• Parking: Three parking spaces; Alley access, on-street parking, and parking pad
• Utilities: Public water; Public sewer; Other utilities
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Crawl space foundation; Built as a one-level home
• Exterior features: Shingle roof; Lot about 0.09 acres

Interior

• Kitchen: Main-level kitchen (approx. 12' long)
• Bedrooms: Two bedrooms on the main level (one approx. 12' long, second approx. 11' long)
• Flooring: Vinyl flooring
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating
• Interior features: Open living area with four main rooms; Other interior features
• Laundry & utility: Main-level laundry features (other)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $83k.

Deal economics

• At list price, monthly cash flow is $341 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $83k).
• Cap rate 11.2% 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: Pickett Elementary School (math 8% / reading 2%, grade F, #1,554 of 1,584 statewide, top 100%, 274 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 (+8.2%/yr); 83 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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 32% 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 $574 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 + 8.0% rent growth), your $23k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $32k; list at $83k implies a 155% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1887 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,000

Questions for the listing agent

1. Built in 1887 — 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: 1.31% ✓
• Cap rate: 11.22%
• Cash-on-cash: 17.61%
• DSCR: 1.78
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $33,912
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 Wellington St	0.52mi	2/1.0	859 (-9%)	3mo	$4,500	$5	57
1338 Pinewood Ave	0.51mi	2/1.0	900 (-4%)	17mo	$9,000	$10	52
1524 Vance St	0.65mi	3/1.0 (+1)	920 (-2%)	22mo	$33,000	$36	40
1041 Whittier St	0.73mi	3/1.0 (+1)	968 (+3%)	21mo	$55,000	$57	37
1534 Pinewood Ave	0.71mi	3/1.0 (+1)	1,030 (+9%)	9mo	$74,900	$73	37
1546 Tecumseh St	0.73mi	2/1.0	854 (-9%)	14mo	$22,650	$27	37
566 Palmwood Ave	0.68mi	3/1.0 (+1)	1,036 (+10%)	12mo	$55,000	$53	35

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: 14.3%
• Equity multiple: 1.60×
• Total profit: $14,016
• Equity at exit: $12,376

10-year hold

• IRR: 26.4%
• Equity multiple: 3.85×
• Total profit: $66,338
• Equity at exit: $7,176

Cash invested: $23,240 (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: 83
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,091 high
• Mortgage (P&I): −$435
• Tax from tax record: −$51 /mo · $609/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $341

Break-even live

Break-even rent $659

Max offer price $83,000

Occupancy floor 64%

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: $20,750
• Closing costs: $2,490
• Reserves months: —
• Total cash needed: —

Rent comps 30 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	0.60mi
400 Nebraska Ave Toledo, OH	1.0	1.0	664	$1,129	$1.70	13d	1	0.88mi
223 Charles St Toledo, OH	2.0	1.0	612	$875	$1.43	43d	1	0.89mi
1825 Collingwood Blvd Toledo, OH	1.0	1.0	710	$850	$1.20	13d	1	0.96mi
1785 Tecumseh St Toledo, OH	2.0	1.0	930	$900	$0.97	43d	1	0.98mi
142 23rd St Toledo, OH	1.0	1.0–1.5	508	$1,395	$2.75	43d	1	1.01mi
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	43d	1	1.03mi
1521 Emma St Unit LABS 1521 Emma St, B 43051619729 Toledo, OH	1.0	1.0	975	$900	$0.92	43d	1	1.10mi
2115 Collingwood Blvd Toledo, OH	2.0	1.0	676	$765	$1.13	23d	1	1.19mi
1418 Colburn St Toledo, OH	3.0	1.0	992	$1,200	$1.21	13d	1	1.29mi
34 S Erie St Unit 209 Toledo, OH	1.0	1.0	930	$1,375	$1.48	23d	1	1.32mi
425 W Bancroft St Toledo, OH	1.0	1.0	711	$725	$1.02	43d	1	1.32mi
15 S Ontario St Apt 409 Toledo, OH	1.0	1.0	984	$1,695	$1.72	43d	1	1.33mi
409 W Bancroft St Toledo, OH	2.0	1.0	730	$880	$1.21	43d	1	1.33mi
34 S Erie St Unit 107 Toledo, OH	1.0	1.0	1103	$1,300	$1.18	23d	1	1.33mi
34 S Erie St Unit 611 Toledo, OH	1.0	1.0	990	$1,300	$1.31	43d	1	1.33mi
34 S Erie St Apt 602 Toledo, OH	1.0	1.0	894	$1,315	$1.47	43d	1	1.33mi
34 S Erie St Unit 202 Toledo, OH	1.0	1.0	894	$1,275	$1.43	23d	1	1.33mi
34 S Erie St Unit 409 Toledo, OH	1.0	1.0	930	$1,375	$1.48	43d	1	1.33mi
625 Virginia St Toledo, OH	2.0	1.0	1000	$850	$0.85	13d	1	1.34mi
625 Virginia St Toledo, OH	2.0	1.0	1000	$800	$0.80	43d	1	1.34mi
827 Colburn St Toledo, OH	2.0	1.0	1092	$750	$0.69	43d	1	1.34mi
1 S Erie St Toledo, OH	1.0	1.0	846	$1,410	$1.67	13d	1	1.40mi
322 14th St Apt 203 Toledo, OH	3.0	1.5	1065	$1,000	$0.94	13d	1	1.40mi
538 Nicholas St Unit B Toledo, OH	1.0	1.0	600	$600	$1.00	43d	1	1.41mi
1037 Orchard St Toledo, OH	2.0	1.0	696	$820	$1.18	21d	1	1.41mi
332 14th St Unit 303 Toledo, OH	3.0	1.5	1040	$1,000	$0.96	43d	1	1.41mi
416 Maumee Ave Unit D Toledo, OH	1.0	1.0	622	$475	$0.76	43d	1	1.44mi
1133 Parkside Blvd Toledo, OH	2.0	1.0	960	$850	$0.89	43d	1	1.46mi
771 Orchard St Unit 7715 Toledo, OH	2.0	1.0	1086	$645	$0.59	23d	1	1.49mi

Listing history 3 events

1. 2026-06-18
   days on market $83,000 Active 2 DOM
2. 2026-06-17
   remarks 145-char remark
3. 2026-06-17
   listed $83,000 Active 1 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: $609 · $51/mo
• Projected year-2 tax: $952 · $79/mo
• Expected delta: +$343/yr (+$29/mo · 56.3%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,087
• − Mortgage interest: −$4,649
• − Property taxes: −$609
• − Insurance: −$415
• − Repairs & maintenance: −$1,047
• − Management: −$1,047
• − Depreciation: −$2,415
• Taxable income: $2,906
• Est. tax owed @ 24.0%: −$697
• After-tax cash flow: $3,395/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

+822.2% since first listed

18 events — show timeline

• 2026-06-16 Listed $83,000 NORIS
• 2026-03-30 Sold (MLS) $32,500 NORIS
• 2026-03-19 Contingent — NORIS
• 2026-02-09 Listed $34,900 NORIS
• 2025-12-09 Listing Removed — NORIS
• 2025-11-03 Price Changed $39,400 NORIS
• 2025-10-14 Price Changed $17,000 NORIS
• 2025-09-14 Price Changed $39,900 NORIS
• 2025-09-01 Price Changed $44,900 NORIS
• 2025-08-20 Listed $49,900 NORIS
• 2025-08-11 Sold (MLS) $17,000 NORIS
• 2025-08-07 Pending — NORIS
• 2025-08-01 Relisted — NORIS
• 2025-07-28 Pending — NORIS
• 2025-07-16 Relisted — NORIS
• 2025-05-23 Pending — NORIS
• 2025-04-30 Listed $19,900 NORIS
• 1986-04-14 Sold (Public Records) $9,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $609 · -13.4% YoY. Source: county tax records.