4022 Parrakeet Ave · Toledo, OH 43612

$83,900

3 bd · 1.0 ba · 892 sqft · SingleFamily public records · 128 Days on market

Built 1922 4,100 sqft lot Est $99k · 15% under

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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 +28.8/30.0
• ARV discount +14.4/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• 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

Listing remarks MLS

Solid classic bungalow. Hardwood floors. Natural woodwork, built in Dutch bench & cabinetry. newer gas stove & refrigerator.

Key facts

• Hardwood flooring
• Fresh paint
• Steady rental income

Tags

• INVESTMENT OPPORTUNITY
• FRESHLY RENOVATED PROPERTY
• HARDWOOD FLOORING
• FRESH PAINT
• STEADY RENTAL INCOME

Property features AI

Exterior

• Parking: Detached garage; Driveway; Asphalt parking surfaces; 1 garage space (1 total parking space)
• Utilities: Electricity available with circuit breakers; Natural gas available; Public water; Storm and sanitary sewer
• Home design: Single-family house; One and one-half level; Not attached / no common walls; Located on a 0.09-acre lot
• Construction: Vinyl siding; Block foundation
• Exterior features: Shingle roof

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Main-level bedroom; Second bedroom on main level
• Flooring: Wood floors
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Storm windows; Other interior features
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $281 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Recommended offer: $74k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.3% 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: Longfellow Elementary School (math 12% / reading 19%, grade F, #1,375 of 1,584 statewide, top 87%, 533 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; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $580 of loan paydown is wiped out by about $3k 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 $23k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago 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 $42k; list at $84k implies a 97% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $73,832 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1922 — 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. 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.
8. 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.
9. 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: 10.31%
• Cash-on-cash: 14.36%
• DSCR: 1.64
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $99,012
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3846 Burton Ave	0.23mi	2/1.0 (-1)	906 (+2%)	4mo	$99,900	$110	79
3917 Almeda Dr	0.23mi	2/1.0 (-1)	839 (-6%)	2mo	$103,000	$123	73
1734 Barrows St	0.49mi	2/1.0 (-1)	912 (+2%)	1mo	$90,000	$99	68
1730 Balkan Pl	0.54mi	2/1.0 (-1)	872 (-2%)	3mo	$80,000	$92	64
3710 Torrance Dr	0.40mi	3/2.0	930 (+4%)	8mo	$140,500	$151	64
3628 Wallwerth Dr	0.50mi	2/1.0 (-1)	935 (+5%)	2mo	$123,000	$132	62
4414 Berwick Ave	0.47mi	2/1.0 (-1)	860 (-4%)	9mo	$116,000	$135	60
1829 Talbot St	0.68mi	2/1.0 (-1)	864 (-3%)	2mo	$50,000	$58	56
1947 Brussels St	0.72mi	2/1.0 (-1)	938 (+5%)	9mo	$77,000	$82	46
1643 Hagley Rd	0.64mi	2/1.0 (-1)	805 (-10%)	5mo	$109,900	$137	44
1308 Crestwood Rd	0.75mi	2/1.0 (-1)	992 (+11%)	5mo	$109,900	$111	37
1946 Barrows St	0.74mi	2/1.0 (-1)	796 (-11%)	7mo	$59,000	$74	37

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: 8.1%
• Equity multiple: 1.33×
• Total profit: $7,752
• Equity at exit: $12,510

10-year hold

• IRR: 19.8%
• Equity multiple: 2.91×
• Total profit: $44,828
• Equity at exit: $7,254

Cash invested: $23,492 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,097 high
• Mortgage (P&I): −$440
• Tax from tax record: −$111 /mo · $1,328/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $281

Break-even live

Break-even rent $741

Max offer price $83,900

Occupancy floor 69%

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: $20,975
• Closing costs: $2,517
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3901 Leybourn Ave Toledo, OH	3.0	1.0	840	$1,150	$1.37	23d	1	0.18mi
3817 Burton Ave Toledo, OH	3.0	1.0	754	$1,015	$1.35	21d	1	0.28mi
1489 Berdan Ave Toledo, OH	3.0	1.0	1068	$1,250	$1.17	43d	1	0.31mi
3915 Willys Pkwy Unit 3915 Toledo, OH	3.0	1.0	1080	$800	$0.74	21d	1	0.34mi
3541 Willys Pkwy Toledo, OH	3.0	1.0	1113	$1,400	$1.26	43d	1	0.56mi
4158 Mayfield Dr Toledo, OH	2.0	1.0	960	$850	$0.89	13d	1	0.57mi
1732 Talbot St Toledo, OH	2.0	1.0	840	$995	$1.18	23d	1	0.57mi
4435 Jackman Rd Toledo, OH	1.0–2.0	1.0	725	$922	$1.27	13d	3	0.58mi
1705 Marlow Rd Toledo, OH	2.0	1.0	738	$1,000	$1.36	23d	1	0.68mi
3615 Berkeley Dr Toledo, OH	3.0	1.0	1096	$1,400	$1.28	13d	1	0.69mi
1846 Loxley Rd Toledo, OH	2.0	1.0	876	$900	$1.03	43d	1	0.72mi
3683 Upton Ave Toledo, OH	3.0	1.0	1119	$1,100	$0.98	43d	1	0.73mi
1338 Crestwood Rd Toledo, OH	3.0	1.0	1000	$1,250	$1.25	13d	1	0.74mi
2027 Berkshire Pl Toledo, OH	2.0	1.0	600	$845	$1.41	23d	1	0.80mi
1951 Loxley Rd Toledo, OH	2.0	1.0	804	$975	$1.21	23d	1	0.83mi
4039 Vermaas Ave Toledo, OH	2.0	1.0	900	$900	$1.00	23d	1	0.91mi
4406 Asbury Dr Toledo, OH	4.0	2.0	1089	$1,550	$1.42	13d	1	0.94mi
1718 Giant St Toledo, OH	3.0	1.0	1080	$1,395	$1.29	13d	1	0.99mi
3950 Woodhaven Dr Toledo, OH	2.0	1.0	1072	$745	$0.69	23d	1	1.02mi
2244 W Sylvania Ave Unit 6 Toledo, OH	2.0	1.0	800	$795	$0.99	43d	1	1.05mi
1838 Giant St Toledo, OH	3.0	1.0	962	$1,200	$1.25	13d	1	1.06mi
4220 Caroline Ave Toledo, OH	3.0	1.0	944	$1,095	$1.16	43d	1	1.07mi
1804 Bigelow St Toledo, OH	3.0	1.0	995	$937	$0.94	43d	1	1.07mi
4412 Packard Rd Toledo, OH	2.0	1.0	672	$900	$1.34	13d	1	1.16mi
1733 Christian Ave Unit 5 Toledo, OH	2.0	1.0	839	$700	$0.83	43d	1	1.27mi
1801 Christian Ave Toledo, OH	1.0–2.0	1.0	750	$939	$1.25	13d	1	1.28mi
823 Custer Dr Unit Upstairs Toledo, OH	2.0	1.0	700	$925	$1.32	13d	1	1.31mi
5317 Jackman Rd Unit 4 Toledo, OH	2.0	1.0	625	$655	$1.05	23d	1	1.42mi
2255 W Laskey Rd Apt 10 Toledo, OH	2.0	1.0	650	$775	$1.19	13d	1	1.43mi
2255 W Laskey Rd Unit 14 Toledo, OH	2.0	1.0	650	$775	$1.19	21d	1	1.43mi
3644 Harley Rd Toledo, OH	2.0	1.0	1025	$975	$0.95	23d	1	1.44mi
3835 Monroe St Toledo, OH	2.0	1.0	1002	$950	$0.95	43d	1	1.46mi
3803 Monroe St Toledo, OH	2.0	1.0	942	$850	$0.90	43d	1	1.47mi
244 Sunset Blvd Toledo, OH	2.0	1.0	726	$1,045	$1.44	21d	1	1.47mi
1732 Newport Ave Toledo, OH	3.0	1.0	896	$1,350	$1.51	23d	1	1.49mi

Listing history 29 events

1. 2026-06-18
   days on market $83,900 Active 128 DOM
2. 2026-06-17
   days on market $83,900 Active 127 DOM
3. 2026-06-16
   days on market $83,900 Active 126 DOM
4. 2026-06-15
   days on market $83,900 Active 125 DOM
5. 2026-06-14
   remarks 322-char remark
6. 2026-06-14
   statusdays on market $83,900 Active 123 DOM
7. 2026-06-10
   days on market $83,900 Contingent 120 DOM
8. 2026-06-09
   days on market $83,900 Contingent 119 DOM
9. 2026-06-08
   days on market $83,900 Contingent 118 DOM
10. 2026-06-07
    days on market $83,900 Contingent 117 DOM
11. 2026-06-05
    statusdays on market $83,900 Contingent 114 DOM
12. 2026-06-03
    days on market $83,900 Active 113 DOM
13. 2026-06-02
    days on market $83,900 Active 112 DOM
14. 2026-06-01
    days on market $83,900 Active 111 DOM
15. 2026-05-31
    days on market $83,900 Active 110 DOM
16. 2026-05-30
    days on market $83,900 Active 109 DOM
17. 2026-05-19
    status Active
18. 2026-03-06
    historical Contingent
19. 2026-03-06
    status Pending
20. 2026-02-10
    listed $83,900 Active
21. 2025-10-14
    price $23,000 132-char remark

    Show marketing remark (132 chars)

    Solid classic bungalow. Hardwood floors. Natural woodwork, built in Dutch bench & cabinetry. newer gas stove & refrigerator.

22. 2018-11-21
    soldstatus $42,500
23. 2018-08-21
    historical
24. 2018-07-02
    listed $49,900
25. 2017-12-04
    soldstatus $23,000 132-char remark

    Show marketing remark (132 chars)

    Solid classic bungalow. Hardwood floors. Natural woodwork, built in Dutch bench & cabinetry. newer gas stove & refrigerator.

26. 2017-10-12
    listed $29,000 132-char remark

    Show marketing remark (132 chars)

    Solid classic bungalow. Hardwood floors. Natural woodwork, built in Dutch bench & cabinetry. newer gas stove & refrigerator.

27. 2016-01-11
    historical
28. 2015-07-11
    listed $24,900
29. 1998-05-13
    soldstatus $43,000

ⓘ 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: $1,328 · $111/mo
• Projected year-2 tax: $1,328 · $111/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 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: $13,165
• − Mortgage interest: −$4,700
• − Property taxes: −$1,328
• − Insurance: −$420
• − Repairs & maintenance: −$1,053
• − Management: −$1,053
• − Depreciation: −$2,441
• Taxable income: $2,171
• Est. tax owed @ 24.0%: −$521
• After-tax cash flow: $2,852/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

+95.1% since first listed

13 events — show timeline

• 2026-05-19 Relisted — NORIS
• 2026-03-06 Contingent — NORIS
• 2026-03-06 Pending — NORIS
• 2026-02-10 Listed $83,900 NORIS
• 2025-10-14 Price Changed $23,000 NORIS
• 2018-11-21 Sold (Public Records) $42,500 Public Records
• 2018-08-21 Listing Removed — NORIS
• 2018-07-02 Listed $49,900 NORIS
• 2017-12-04 Sold (MLS) $23,000 NORIS
• 2017-10-12 Listed $29,000 NORIS
• 2016-01-11 Listing Removed — NORIS
• 2015-07-11 Listed $24,900 NORIS
• 1998-05-13 Sold (Public Records) $43,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $1,328 · +0.7% YoY. Source: county tax records.