1445 Milburn Ave · Toledo, OH 43606

$45,900

4 bd · 1.0 ba · 1,692 sqft · SingleFamily public records · 9 Days on market

Built 1883 6,100 sqft lot Est $56k · 18% 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

Listing remarks

Calling all investors, First time buyers, Hurry. Large space, large bedrooms, large kitchen, 2 full baths, Mostly newer windows, Good investment,

Key facts

• 6,100 sq ft lot
• 2 parking spots
• Built 1883

Property features AI

Finance

• Other: Lot size approximately 0.14 acres

Exterior

• Parking: 2 parking spaces; On-street parking
• Utilities: Electricity connected; Natural gas available; Public water; Public sanitary sewer
• Home design: Single-family residence (house); Not attached to other structures; No common walls; Two stories (one and one-half levels)
• Construction: Wood siding construction; Shingle roof; Crawl space foundation; Built year from public records
• Exterior features: Covered patio; Other fencing; City street frontage; Asphalt road surface

Interior

• Kitchen: Electric Range; Refrigerator
• Bedrooms: Bedroom 3 (Upper); Bedroom 4 (Upper)
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Other heating; Cooling present (type: Other)
• Interior features: 7 total rooms; Other interior features
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $46k.

Deal economics

• At list price, monthly cash flow is $639 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $46k).
• Cap rate 23.0% vs local median 7.5% 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); 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.
• Zoned-school proficiency averages 7% at this address vs 20% district-wide (-12 pts) — the specific schools serving this property underperform the Toledo City average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.3%/yr); 95 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $317 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 + 2.3% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1883 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $45,900

Questions for the listing agent

1. Built in 1883 — 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: 2.79% ✓
• Cap rate: 23.01%
• Cash-on-cash: 59.71%
• DSCR: 3.66
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $55,836
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2144 Hawthorne St	0.31mi	3/1.0 (-1)	1,564 (-8%)	3mo	$40,000	$26	65
2114 Parkdale Ave	0.61mi	3/1.0 (-1)	1,737 (+3%)	2mo	$125,000	$72	60
1322 Thatcher Dr	0.48mi	3/1.5 (-1)	1,753 (+4%)	6mo	$55,500	$32	60
1844 Freeman St	0.58mi	3/1.5 (-1)	1,630 (-4%)	1mo	$40,000	$25	59
1348 Palmetto Ave	0.43mi	3/1.0 (-1)	1,609 (-5%)	10mo	$95,000	$59	58
1308 Grand Ave	0.35mi	4/1.5	1,468 (-13%)	6mo	$27,500	$19	54
1808 Freeman St	0.51mi	3/1.5 (-1)	1,561 (-8%)	7mo	$91,488	$59	51
2004 Calumet Ave	0.61mi	4/1.5	1,557 (-8%)	7mo	$50,000	$32	50
2053 Calumet Ave	0.56mi	3/1.0 (-1)	1,840 (+9%)	5mo	$55,000	$30	50
2104 Calumet Ave	0.52mi	3/1.0 (-1)	1,594 (-6%)	15mo	$78,000	$49	49
1311 Fitchland Ave	0.43mi	4/2.0	1,480 (-12%)	9mo	$127,500	$86	48
2031 Parkdale Ave	0.67mi	3/1.0 (-1)	1,536 (-9%)	12mo	$50,000	$33	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 · 2.29% rent growth · sell at horizon

5-year hold

• IRR: 57.6%
• Equity multiple: 3.52×
• Total profit: $32,436
• Equity at exit: $6,844

10-year hold

• IRR: 62.2%
• Equity multiple: 7.01×
• Total profit: $77,232
• Equity at exit: $3,969

Cash invested: $12,852 (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: 95
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,280 high
• Mortgage (P&I): −$241
• Tax from tax record: −$112 /mo · $1,339/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $639

Break-even live

Break-even rent $470

Max offer price $45,900

Occupancy floor 45%

Sensitivity live

Price	-10% $665	-5% $652	+0% $639	+5% $626	+10% $613
Rent	-10% $538	-5% $589	+0% $639	+5% $690	+10% $741
Rate	-1.0pp $663	-0.5pp $651	base $639	+0.5pp $628	+1.0pp $615

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: $11,475
• Closing costs: $1,377
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1436 Palmetto Ave Toledo, OH	3.0	1.0	1678	$1,400	$0.83	25d	1	0.46mi
2117 Clinton St Toledo, OH	3.0	1.0	1256	$1,115	$0.89	45d	1	0.46mi
960 W Delaware Ave Toledo, OH	3.0	1.0	1224	$1,050	$0.86	25d	1	0.62mi
1573 Jermain Dr Toledo, OH	3.0	1.0	1254	$1,195	$0.95	15d	1	0.80mi
1140 Palmwood Ave Toledo, OH	3.0	1.0	1292	$1,500	$1.16	45d	1	0.88mi
1718 Giant St Toledo, OH	3.0	1.0	1080	$1,395	$1.29	15d	1	1.04mi
1122 Pinewood Ave Toledo, OH	3.0	1.0	1559	$1,150	$0.74	15d	1	1.07mi
1420 Addington Rd Toledo, OH	5.0	1.5	1728	$1,500	$0.87	45d	1	1.12mi
2907 Rockwood Pl Toledo, OH	3.0	1.0	1494	$1,100	$0.74	15d	1	1.20mi
2632 Algonquin Pkwy Toledo, OH	3.0	1.5	1568	$800	$0.51	25d	1	1.25mi
2037 Alvin St Toledo, OH	3.0	1.0	1260	$1,175	$0.93	45d	1	1.38mi
915 Woodstock Ave Toledo, OH	3.0	1.5	1500	$1,100	$0.73	25d	1	1.39mi
3606 Revere Dr Toledo, OH	4.0	1.0	1320	$1,500	$1.14	45d	1	1.41mi
1731 Mansfield Rd Toledo, OH	3.0	1.0	1138	$1,195	$1.05	25d	1	1.41mi
3541 Willys Pkwy Toledo, OH	3.0	1.0	1113	$1,400	$1.26	45d	1	1.42mi
614 Cadillac Ct Toledo, OH	3.0	1.0	1581	$1,075	$0.68	25d	1	1.45mi
610 Cadillac Ct Toledo, OH	3.0	1.0	1409	$1,050	$0.75	25d	1	1.46mi

Listing history 8 events

1. 2026-06-14
   statusdays on market $45,900 Pending 9 DOM
2. 2026-06-10
   days on market $45,900 Active 7 DOM
3. 2026-06-09
   days on market $45,900 Active 6 DOM
4. 2026-06-08
   days on market $45,900 Active 5 DOM
5. 2026-06-07
   days on market $45,900 Active 4 DOM
6. 2026-06-05
   remarks 145-char remark
7. 2026-06-03
   remarks 109-char remark
8. 2026-06-03
   listed $45,900 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: $1,339 · $112/mo
• Projected year-2 tax: $1,339 · $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 3/10 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,356
• − Mortgage interest: −$2,571
• − Property taxes: −$1,339
• − Insurance: −$230
• − Repairs & maintenance: −$1,228
• − Management: −$1,228
• − Depreciation: −$1,335
• Taxable income: $7,424
• Est. tax owed @ 24.0%: −$1,782
• After-tax cash flow: $5,892/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

+317.3% since first listed

5 events — show timeline

• 2026-06-03 Listed $45,900 NORIS
• 2021-02-05 Sold (Public Records) $125,000 Public Records
• 1993-04-29 Sold (Public Records) $12,500 Public Records
• 1993-03-29 Sold (Public Records) $12,500 Public Records
• 1992-07-06 Sold (Public Records) $11,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $1,339 · +18.0% YoY. Source: county tax records.