736 Thayer St · Toledo, OH 43609

$68,900

2 bd · 1.0 ba · 738 sqft · SingleFamily public records · 13 Days on market

Built 1918 1,600 sqft lot Est $71k · 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 +28.8/30.0
• DSCR +10.0/10.0
• ARV discount +8.7/15.0
• 1% rule +7.2/10.0
• Appreciation +5.4/10.0
• Rent growth +4.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks MLS

INVESTOR'S DREAM. 2 BEDROOM, QUIET NEIGHBORHOOD. EASY ACCESS TO BUS LINE. CYCLONE FENCE

Key facts

• 1,600 sq ft lot
• 3 parking spots
• Built 1918

Property features AI

Finance

• HOA & community: Curbs; Sidewalks

Exterior

• Parking: 3 parking spaces; Alley access; On-street parking
• Security: Smoke detector(s)
• Utilities: Electricity connected; Natural gas connected; Water connected (public); Public sewer; Cable available
• Home design: Single-family house; One story; No shared/common walls
• Construction: Vinyl siding; Wood siding; Block foundation; Shingle roof; Built (year source: assessor)
• Exterior features: Front porch; Chain link fencing; City street frontage; Paved road

Interior

• Kitchen: Pantry; Microwave; Gas range connection
• Bedrooms: Bedroom (Main level); Second bedroom about 10 x 9 (Main level)
• Flooring: Luxury vinyl; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Pantry; Walk-in closet(s); Window treatments; Lighting
• Laundry & utility: Washer hookup; Gas dryer hookup; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $231 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($838 rent vs $69k).
• 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: Marshall Stemm Academy (math 2% / reading 8%, grade F, #1,554 of 1,584 statewide, top 100%, 374 students, 0% FRL); Bowsher High School (math 23% / reading 45%, grade F, #596 of 781 statewide, top 76%, 1,240 students, 49% 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 (+7.8%/yr); 99 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).

Forward outlook

• In year one you build about $992 of equity ($476 loan paydown + $516 appreciation (0.8% local appreciation)).
• Lucas County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.8% appreciation + 7.8% rent growth), your $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 26y ago; this cycle's ask is 6% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $16k; list at $69k implies a 331% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,900

Questions for the listing agent

1. Built in 1918 — 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: 1.22% ✓
• Cap rate: 10.31%
• Cash-on-cash: 14.35%
• DSCR: 1.64
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $70,848
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1016 Orchard St	0.21mi	2/1.0	680 (-8%)	11mo	$65,000	$96	68
570 Orchard St	0.53mi	2/1.5	836 (+13%)	7mo	$40,000	$48	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.75% appreciation · 7.8% rent growth · sell at horizon

5-year hold

• IRR: 19.2%
• Equity multiple: 2.00×
• Total profit: $19,371
• Equity at exit: $22,627

10-year hold

• IRR: 25.4%
• Equity multiple: 4.47×
• Total profit: $66,881
• Equity at exit: $29,390

Cash invested: $19,292 (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 43609

• Home prices YoY: 0.3%
• Rents YoY: 7.8%
• Active inventory: 99
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $838 high
• Mortgage (P&I): −$361
• Tax from tax record: −$42 /mo · $499/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$176
• Net cashflow: $231

Break-even live

Break-even rent $546

Max offer price $68,900

Occupancy floor 67%

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: $17,225
• Closing costs: $2,067
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1037 Orchard St Toledo, OH	2.0	1.0	696	$820	$1.18	21d	1	0.21mi
223 Charles St Toledo, OH	2.0	1.0	612	$875	$1.43	43d	1	0.74mi
416 Maumee Ave Unit D Toledo, OH	1.0	1.0	622	$475	$0.76	43d	1	0.77mi
538 Nicholas St Unit B Toledo, OH	1.0	1.0	600	$600	$1.00	43d	1	0.89mi
1734 Arlington Ave Toledo, OH	2.0	1.0	700	$800	$1.14	13d	1	1.16mi
707 Toronto Ave Toledo, OH	1.0	1.0	750	$775	$1.03	23d	1	1.17mi

Listing history 13 events

1. 2026-06-18
   days on market $68,900 Active 13 DOM
2. 2026-06-17
   days on market $68,900 Active 12 DOM
3. 2026-06-16
   days on market $68,900 Active 11 DOM
4. 2026-06-15
   price $68,900 Active 10 DOM
5. 2026-06-15
   days on market $72,000 Active 10 DOM
6. 2026-06-14
   days on market $72,000 Active 8 DOM
7. 2026-06-10
   days on market $72,000 Active 5 DOM
8. 2026-06-09
   days on market $72,000 Active 4 DOM
9. 2026-06-08
   days on market $72,000 Active 3 DOM
10. 2026-06-07
    status $72,000 Active 2 DOM
11. 2026-06-05
    days on market $72,000 Coming Soon 2 DOM
12. 2026-06-03
    remarks 445-char remark
13. 2026-06-03
    listed $72,000 Coming Soon 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: $499 · $42/mo
• Projected year-2 tax: $787 · $66/mo
• Expected delta: +$288/yr (+$24/mo · 57.6%)

ⓘ 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: $10,061
• − Mortgage interest: −$3,859
• − Property taxes: −$499
• − Insurance: −$344
• − Repairs & maintenance: −$805
• − Management: −$805
• − Depreciation: −$2,004
• Taxable income: $1,743
• Est. tax owed @ 24.0%: −$418
• After-tax cash flow: $2,350/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): 21,404
• Household income: $42,313
• Rent vs Own: 55.7% rent · 44.3% own
• Severe rent burden: 1603.0

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 0.66)
• Race & ethnicity: White 47% Black 29% Hispanic / Latino 17% Two or more races 9%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Arabic 1% 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: ▲ 0.75%
• Current HPI: 235.2515
• Rent YoY: ▲ 7.80%
• 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

+269.2% since first listed

8 events — show timeline

• 2026-06-03 Coming Soon $72,000 NORIS
• 2026-04-09 Listing Removed — NORIS
• 2026-03-05 Price Changed $61,900 NORIS
• 2026-02-12 Listed $65,000 NORIS
• 2026-02-06 Coming Soon — NORIS
• 2025-10-14 Price Changed $16,000 NORIS
• 2000-05-26 Sold (MLS) $16,000 NORIS
• 2000-04-13 Listed $19,500 NORIS

Property tax history

+1.5%/yr

Latest (2025): $499 · +6.5% YoY. Source: county tax records.