1817 Waite Ave · Toledo, OH 43606

$6,888

4 bd · 2.0 ba · 0 sqft · Other public records · 102 Days on market

Built 1915 5,001 sqft lot

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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 MLS

This is a Lucas County Land Bank 2 story Duplex. Both units are identical. Over 1200 sq feet per unit. You can see the original hardwood floors and woodwork. Bring your tool box and bring this property back to life!!! Parking slab in back. There is a front and back staircase with a walk up attic. All offers to include a renovation plan with proof off funds with the offer. Major Systems in Need of Repair/Replacement-Furnace, Water Heater/Plumbing, Electrical, Roof.

Key facts

• Woodwork
• Walk up attic
• Parking slab

Tags

• ORIGINAL HARDWOOD FLOORS
• WOODWORK
• PARKING SLAB
• FRONT AND BACK STAIRCASE
• WALK UP ATTIC

🏷️ Possibly a rental listed for sale. The $6,888 price doesn't fit this home's estimated sale value (~$80,183) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $7k.

Deal economics

• At list price, monthly cash flow is $963 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $7k).
• Recommended offer: $6k (9.0% below list) — sets the bar for market timing.
• Cap rate 174.1% 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-, schools D-, crime 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.
• Market conditions: Rents rising (+2.3%/yr); 93 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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 $48 of loan paydown is wiped out by about $207 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 $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($6k) is reasonable based on typical stale-listing flexibility.
• 23 sale attempts since 22y ago; this cycle's ask has dropped $2k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $6,268 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 18.57% ✓
• Cap rate: 174.07%
• Cash-on-cash: 599.21%
• DSCR: 27.66
• GRM: 0.4

CMA / ARV

• ARV (median comp): $80,183
• List price: $6,888
• Delta: -91.41%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.29% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 31.76×
• Total profit: $59,332
• Equity at exit: $1,027

10-year hold

• IRR: —
• Equity multiple: 66.88×
• Total profit: $127,054
• Equity at exit: $596

Cash invested: $1,929 (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: 93
• Price-to-rent: 0.4×

Monthly cashflow live

• Estimated rent: $1,279 high
• Mortgage (P&I): −$36
• Tax est. 1.5%: −$9 /mo · $103/yr
• Insurance: −$3
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $963

Break-even live

Break-even rent $60

Max offer price $6,888

Occupancy floor 20%

Sensitivity live

Price	-10% $968	-5% $965	+0% $963	+5% $961	+10% $958
Rent	-10% $862	-5% $913	+0% $963	+5% $1,014	+10% $1,064
Rate	-1.0pp $967	-0.5pp $965	base $963	+0.5pp $961	+1.0pp $959

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: $1,722
• Closing costs: $207
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
929 Norwood Ave Toledo, OH	3.0	2.0	—	$1,250	—	44d	1	0.19mi
1140 Palmwood Ave Toledo, OH	3.0	1.0	1292	$1,500	$1.16	44d	1	0.35mi
1122 Pinewood Ave Toledo, OH	3.0	1.0	1559	$1,150	$0.74	14d	1	0.50mi
401 W Bancroft St Toledo, OH	4.0	1.0	927	$865	$0.93	24d	1	0.83mi
960 W Delaware Ave Toledo, OH	3.0	1.0	1224	$1,050	$0.86	24d	1	0.91mi
2117 Clinton St Toledo, OH	3.0	1.0	1256	$1,115	$0.89	44d	1	0.94mi
1436 Palmetto Ave Toledo, OH	3.0	1.0	1678	$1,400	$0.83	24d	1	1.16mi
119 Winthrop St Toledo, OH	3.0	1.0	1734	$1,350	$0.78	24d	1	1.20mi
322 14th St Apt 203 Toledo, OH	3.0	1.5	1065	$1,000	$0.94	14d	1	1.24mi
332 14th St Unit 303 Toledo, OH	3.0	1.5	1040	$1,000	$0.96	44d	1	1.25mi
2322 Upton Ave Toledo, OH	3.0	1.0	1000	$1,300	$1.30	44d	1	1.28mi
1420 Addington Rd Toledo, OH	5.0	1.5	1728	$1,500	$0.87	44d	1	1.31mi
319 N Detroit Ave Toledo, OH	3.0	1.0	1341	$845	$0.63	44d	1	1.33mi
2907 Rockwood Pl Toledo, OH	3.0	1.0	1494	$1,100	$0.74	14d	1	1.36mi
1116 Woodstock Ave Toledo, OH	4.0	2.0	—	$1,595	—	24d	1	1.39mi
915 Woodstock Ave Toledo, OH	3.0	1.5	1500	$1,100	$0.73	24d	1	1.45mi

Listing history 50 events

1. 2026-06-18
   days on market $6,888 Active 102 DOM
2. 2026-06-17
   days on market $6,888 Active 101 DOM
3. 2026-06-16
   days on market $6,888 Active 100 DOM
4. 2026-06-15
   days on market $6,888 Active 99 DOM
5. 2026-06-14
   days on market $6,888 Active 97 DOM
6. 2026-06-10
   days on market $6,888 Active 94 DOM
7. 2026-06-09
   days on market $6,888 Active 93 DOM
8. 2026-06-08
   days on market $6,888 Active 92 DOM
9. 2026-06-07
   days on market $6,888 Active 91 DOM
10. 2026-06-05
    days on market $6,888 Active 88 DOM
11. 2026-06-03
    days on market $6,888 Active 87 DOM
12. 2026-06-02
    days on market $6,888 Active 86 DOM
13. 2026-06-01
    days on market $6,888 Active 85 DOM
14. 2026-05-31
    days on market $6,888 Active 84 DOM
15. 2026-05-30
    days on market $6,888 Active 83 DOM
16. 2026-03-04
    listed $8,888 Active 471-char remark

    Show marketing remark (471 chars)

    This is a Lucas County Land Bank 2 story Duplex. Both units are identical. Over 1200 sq feet per unit. You can see the original hardwood floors and woodwork. Bring your tool box and bring this property back to life!!! Parking slab in back. There is a front and back staircase with a walk up attic. All offers to include a renovation plan with proof off funds with the offer. Major Systems in Need of Repair/Replacement-Furnace, Water Heater/Plumbing, Electrical, Roof.

17. 2025-10-14
    price $21,000 223-char remark

    Show marketing remark (223 chars)

    spacious, hardwood, natural woodwork, decorative fireplaces, sun rooms, needs work, sold as-is, proof of funds/pre-approval letter required w/offer - if purchaser is a licensed agent, no selling agentcommission will be paid

18. 2024-01-17
    historical
19. 2023-11-30
    price $2,888
20. 2023-08-29
    price $4,888
21. 2023-07-17
    listed $6,888 Active
22. 2013-10-02
    soldstatus $6,000
23. 2013-09-26
    soldstatus $6,000
24. 2013-09-13
    price $6,000
25. 2013-08-15
    soldstatus $8,000
26. 2013-08-15
    soldstatus $8,000
27. 2013-07-10
    listed $5,900
28. 2011-12-15
    historical
29. 2011-09-15
    listed $48,900
30. 2011-09-01
    historical
31. 2011-05-19
    listed $48,900
32. 2011-03-31
    historical
33. 2011-02-01
    listed $48,900
34. 2010-12-31
    historical
35. 2010-08-29
    listed $48,900
36. 2010-07-07
    historical
37. 2010-04-07
    listed $48,900
38. 2010-03-31
    historical
39. 2010-01-01
    listed $48,900
40. 2009-12-31
    historical
41. 2009-07-09
    listed $48,900
42. 2009-06-10
    historical
43. 2009-03-10
    listed $52,900
44. 2009-01-31
    historical
45. 2008-11-19
    listed $52,900
46. 2008-08-31
    historical
47. 2008-07-31
    listed $54,900
48. 2008-07-11
    historical
49. 2008-06-11
    listed $55,900
50. 2008-05-27
    historical

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,352
• − Mortgage interest: −$386
• − Property taxes: −$103
• − Insurance: −$34
• − Repairs & maintenance: −$1,228
• − Management: −$1,228
• − Depreciation: −$200
• Taxable income: $12,171
• Est. tax owed @ 24.0%: −$2,921
• After-tax cash flow: $8,635/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

-77.2% since first listed

54 events — show timeline

• 2026-03-04 Listed $8,888 NORIS
• 2025-10-14 Price Changed $21,000 NORIS
• 2024-01-17 Listing Removed — NORIS
• 2023-11-30 Price Changed $2,888 NORIS
• 2023-08-29 Price Changed $4,888 NORIS
• 2023-07-17 Listed $6,888 NORIS
• 2013-10-02 Sold (Public Records) $6,000 Public Records
• 2013-09-26 Sold (MLS) $6,000 NORIS
• 2013-09-13 Price Changed $6,000 NORIS
• 2013-08-15 Sold (Public Records) $8,000 Public Records
• 2013-08-15 Sold (Public Records) $8,000 Public Records
• 2013-07-10 Listed $5,900 NORIS
• 2011-12-15 Listing Removed — NORIS
• 2011-09-15 Listed $48,900 NORIS
• 2011-09-01 Listing Removed — NORIS
• 2011-05-19 Listed $48,900 NORIS
• 2011-03-31 Listing Removed — NORIS
• 2011-02-01 Listed $48,900 NORIS
• 2010-12-31 Listing Removed — NORIS
• 2010-08-29 Listed $48,900 NORIS
• 2010-07-07 Listing Removed — NORIS
• 2010-04-07 Listed $48,900 NORIS
• 2010-03-31 Listing Removed — NORIS
• 2010-01-01 Listed $48,900 NORIS
• 2009-12-31 Listing Removed — NORIS
• 2009-07-09 Listed $48,900 NORIS
• 2009-06-10 Listing Removed — NORIS
• 2009-03-10 Listed $52,900 NORIS
• 2009-01-31 Listing Removed — NORIS
• 2008-11-19 Listed $52,900 NORIS
• 2008-08-31 Listing Removed — NORIS
• 2008-07-31 Listed $54,900 NORIS
• 2008-07-11 Listing Removed — NORIS
• 2008-06-11 Listed $55,900 NORIS
• 2008-05-27 Listing Removed — NORIS
• 2008-04-18 Listed $55,900 NORIS
• 2008-03-31 Listing Removed — NORIS
• 2008-02-28 Listed $57,900 NORIS
• 2008-02-19 Listing Removed — NORIS
• 2008-01-05 Listed $57,900 NORIS
• 2007-12-31 Listing Removed — NORIS
• 2007-10-16 Listed $60,000 NORIS
• 2007-09-30 Listing Removed — NORIS
• 2007-07-05 Listed $65,000 NORIS
• 2007-06-10 Listing Removed — NORIS
• 2007-03-14 Listed $79,000 NORIS
• 2005-09-27 Sold (Public Records) $21,000 Public Records
• 2005-09-27 Sold (Public Records) $36,667 Public Records
• 2005-09-06 Sold (MLS) $21,000 NORIS
• 2005-07-05 Listed $29,900 NORIS
• 2005-06-23 Listing Removed — NORIS
• 2005-04-16 Listing Removed — NORIS
• 2005-03-26 Listed $29,900 NORIS
• 2004-08-16 Listed $39,000 NORIS

Property tax history

+56.4%/yr

Latest (2016): $735 · +282.8% YoY. Source: county tax records.