4514 Vermaas Ave · Toledo, OH 43612

$89,900

2 bd · 1.0 ba · 780 sqft · SingleFamily public records · 63 Days on market

Built 1948 5,700 sqft lot $115/sqft · 7% below area Est $96k · 7% under

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Why this score? — see what drove the C 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 +22.2/30.0
• ARV discount +10.6/15.0
• DSCR +7.1/10.0
• 1% rule +5.5/10.0
• 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

Charming 2-bedroom home with a basement, newer flooring, and fresh paint throughout. Features an eat-in kitchen, detached garage, and a nicely sized yard with plenty of outdoor space. A great opportunity for a first-time buyer or an investor looking to add to their portfolio.

Key facts

• 5,700 sq ft lot
• Garage
• Built 1948

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $146 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($947 rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.

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 fast (+6.0%/yr); 99 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $622 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 $25k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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: 1.05% ✓
• Cap rate: 8.24%
• Cash-on-cash: 6.96%
• DSCR: 1.31
• GRM: 7.9

CMA / ARV

• ARV (median comp): $96,471
• List price: $89,900
• Delta: -6.81%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
539 Sunset Blvd	0.14mi	2/1.0	824 (+6%)	5mo	$114,000	$138	80
4139 Caroline Ave	0.39mi	2/1.0	786 (+1%)	4mo	$75,000	$95	78
318 Sunset Blvd	0.37mi	2/1.0	758 (-3%)	2mo	$98,000	$129	76
504 Eleanor Ave	0.17mi	2/1.0	844 (+8%)	4mo	$83,500	$99	74
713 W Capistrano Ave	0.35mi	2/2.0	800 (+3%)	2mo	$133,615	$167	74
520 Waggoner Blvd	0.17mi	2/1.0	896 (+15%)	2mo	$110,000	$123	66
4139 Walker Ave	0.39mi	2/1.0	868 (+11%)	0mo	$73,000	$84	63
334 Waggoner Blvd	0.34mi	2/1.0	672 (-14%)	3mo	$112,000	$167	58
331 W Crawford Ave	0.53mi	2/1.0	702 (-10%)	1mo	$90,000	$128	58
326 Waggoner Blvd	0.35mi	2/1.0	672 (-14%)	5mo	$100,000	$149	56
218 Waggoner Blvd	0.47mi	2/1.0	672 (-14%)	2mo	$99,000	$147	53
1202 Cribb St	0.60mi	2/1.0	672 (-14%)	1mo	$106,000	$158	48

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: -2.4%
• Equity multiple: 0.91×
• Total profit: $-2,307
• Equity at exit: $13,404

10-year hold

• IRR: 10.3%
• Equity multiple: 1.91×
• Total profit: $22,872
• Equity at exit: $7,773

Cash invested: $25,172 (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: 99
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $947 high
• Mortgage (P&I): −$471
• Tax from tax record: −$93 /mo · $1,113/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$199
• Net cashflow: $146

Break-even live

Break-even rent $762

Max offer price $89,900

Occupancy floor 80%

Sensitivity live

Price	-10% $197	-5% $172	+0% $146	+5% $121	+10% $95
Rent	-10% $71	-5% $109	+0% $146	+5% $183	+10% $221
Rate	-1.0pp $191	-0.5pp $169	base $146	+0.5pp $123	+1.0pp $99

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4412 Packard Rd Toledo, OH	2.0	1.0	672	$900	$1.34	15d	1	0.18mi
4220 Caroline Ave Toledo, OH	3.0	1.0	944	$1,095	$1.16	45d	1	0.30mi
4039 Vermaas Ave Toledo, OH	2.0	1.0	900	$900	$1.00	24d	1	0.42mi
4039 Vermaas Ave Toledo, OH	1.0	1.0	612	$675	$1.10	45d	1	0.42mi
244 Sunset Blvd Toledo, OH	2.0	1.0	726	$1,045	$1.44	22d	1	0.43mi
4013 Caroline Ave Toledo, OH	1.0	1.0	840	$800	$0.95	22d	1	0.48mi
4158 Mayfield Dr Toledo, OH	2.0	1.0	960	$850	$0.89	15d	1	0.51mi
3950 Woodhaven Dr Toledo, OH	2.0	1.0	1072	$745	$0.69	24d	1	0.55mi
823 Custer Dr Unit Upstairs Toledo, OH	2.0	1.0	700	$925	$1.32	15d	1	0.59mi
1338 Crestwood Rd Toledo, OH	3.0	1.0	1000	$1,250	$1.25	15d	1	0.78mi
5207 Bennett Rd Toledo, OH	2.0	2.0	1109	$1,200	$1.08	15d	1	0.79mi
3805 Berkeley Unit 3 Toledo, OH	1.0	1.0	700	$735	$1.05	15d	1	0.83mi
3812 Drexel Dr Apt 2 Toledo, OH	1.0	1.0	950	$773	$0.81	24d	1	0.83mi
3915 Willys Pkwy Unit 3915 Toledo, OH	3.0	1.0	1080	$800	$0.74	22d	1	0.88mi
3615 Berkeley Dr Toledo, OH	3.0	1.0	1096	$1,400	$1.28	15d	1	0.94mi
927 W Northgate Pkwy Toledo, OH	2.0	1.0	896	$1,100	$1.23	15d	1	1.01mi
3541 Willys Pkwy Toledo, OH	3.0	1.0	1113	$1,400	$1.26	45d	1	1.13mi
3901 Leybourn Ave Toledo, OH	3.0	1.0	840	$1,150	$1.37	24d	1	1.19mi
5527 Lewis Ave Toledo, OH	1.0	1.0	654	$622	$0.95	45d	1	1.21mi
1489 Berdan Ave Toledo, OH	3.0	1.0	1068	$1,250	$1.17	45d	1	1.27mi
3817 Burton Ave Toledo, OH	3.0	1.0	754	$1,015	$1.35	22d	1	1.28mi
4435 Jackman Rd Toledo, OH	1.0–2.0	1.0	725	$922	$1.27	15d	3	1.35mi
5311 N Detroit Ave Toledo, OH	1.0	1.0	570	$665	$1.17	15d	1	1.35mi
5311 N Detroit Ave Toledo, OH	1.0	1.0	570	$665	$1.17	45d	1	1.35mi
3940 Jackman Rd Unit B Toledo, OH	1.0	1.0	600	$650	$1.08	45d	1	1.39mi
3801 Torrance Dr Unit 3801 4 Toledo, OH	1.0	1.0	750	$600	$0.80	24d	1	1.40mi

Listing history 36 events

1. 2026-06-21
   days on market $89,900 Active 63 DOM
2. 2026-06-18
   days on market $89,900 Active 60 DOM
3. 2026-06-17
   days on market $89,900 Active 59 DOM
4. 2026-06-16
   days on market $89,900 Active 58 DOM
5. 2026-06-15
   days on market $89,900 Active 57 DOM
6. 2026-06-14
   days on market $89,900 Active 55 DOM
7. 2026-06-10
   days on market $89,900 Active 52 DOM
8. 2026-06-09
   days on market $89,900 Active 51 DOM
9. 2026-06-08
   days on market $89,900 Active 50 DOM
10. 2026-06-07
    days on market $89,900 Active 49 DOM
11. 2026-06-05
    days on market $89,900 Active 46 DOM
12. 2026-06-03
    days on market $89,900 Active 45 DOM
13. 2026-06-02
    days on market $89,900 Active 44 DOM
14. 2026-06-01
    days on market $89,900 Active 43 DOM
15. 2026-05-31
    days on market $89,900 Active 42 DOM
16. 2026-05-30
    days on market $89,900 Active 41 DOM
17. 2026-04-19
    listed $99,900 Active 276-char remark

    Show marketing remark (276 chars)

    Charming 2-bedroom home with a basement, newer flooring, and fresh paint throughout. Features an eat-in kitchen, detached garage, and a nicely sized yard with plenty of outdoor space. A great opportunity for a first-time buyer or an investor looking to add to their portfolio.

18. 2026-04-15
    historical $99,900 276-char remark

    Show marketing remark (276 chars)

    Charming 2-bedroom home with a basement, newer flooring, and fresh paint throughout. Features an eat-in kitchen, detached garage, and a nicely sized yard with plenty of outdoor space. A great opportunity for a first-time buyer or an investor looking to add to their portfolio.

19. 2025-10-14
    price $74,000 140-char remark

    Show marketing remark (140 chars)

    Cute bungalow with fenced yard and 1 car garage. Fresh paint and new carpet. New roof on house, new gas hot heater. Kitchen appliances stay.

20. 2023-11-30
    soldstatus $80,000
21. 2023-11-17
    soldstatus $40,000
22. 2019-09-12
    soldstatus $45,900
23. 2014-10-03
    historical
24. 2014-02-12
    listed $12,900
25. 2011-02-07
    soldstatus $35,500
26. 2010-12-23
    historical
27. 2010-10-29
    listed $29,900
28. 2010-10-20
    historical
29. 2010-08-18
    listed $34,900
30. 2008-03-20
    historical
31. 2007-09-17
    listed $59,500
32. 2004-09-15
    soldstatus $74,000 140-char remark

    Show marketing remark (140 chars)

    Cute bungalow with fenced yard and 1 car garage. Fresh paint and new carpet. New roof on house, new gas hot heater. Kitchen appliances stay.

33. 2004-09-15
    soldstatus $74,000

    Show marketing remark (140 chars)

    Cute bungalow with fenced yard and 1 car garage. Fresh paint and new carpet. New roof on house, new gas hot heater. Kitchen appliances stay.

34. 2004-07-07
    listed $74,900 140-char remark

    Show marketing remark (140 chars)

    Cute bungalow with fenced yard and 1 car garage. Fresh paint and new carpet. New roof on house, new gas hot heater. Kitchen appliances stay.

35. 2002-10-01
    soldstatus $66,000
36. 1992-04-24
    soldstatus $36,000

ⓘ 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: $1,113 · $93/mo
• Projected year-2 tax: $1,258 · $105/mo
• Expected delta: +$145/yr (+$12/mo · 13.0%)

ⓘ 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: $11,358
• − Mortgage interest: −$5,036
• − Property taxes: −$1,113
• − Insurance: −$450
• − Repairs & maintenance: −$909
• − Management: −$909
• − Depreciation: −$2,615
• Taxable income: $327
• Est. tax owed @ 24.0%: −$79
• After-tax cash flow: $1,675/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

+177.5% since first listed

20 events — show timeline

• 2026-04-19 Listed $99,900 NORIS
• 2026-04-15 Coming Soon $99,900 NORIS
• 2025-10-14 Price Changed $74,000 NORIS
• 2023-11-30 Sold (Public Records) $80,000 Public Records
• 2023-11-17 Sold (Public Records) $40,000 Public Records
• 2019-09-12 Sold (Public Records) $45,900 Public Records
• 2014-10-03 Listing Removed — NORIS
• 2014-02-12 Listed $12,900 NORIS
• 2011-02-07 Sold (Public Records) $35,500 Public Records
• 2010-12-23 Listing Removed — NORIS
• 2010-10-29 Listed $29,900 NORIS
• 2010-10-20 Listing Removed — NORIS
• 2010-08-18 Listed $34,900 NORIS
• 2008-03-20 Listing Removed — NORIS
• 2007-09-17 Listed $59,500 NORIS
• 2004-09-15 Sold (Public Records) $74,000 Public Records
• 2004-09-15 Sold (MLS) $74,000 NORIS
• 2004-07-07 Listed $74,900 NORIS
• 2002-10-01 Sold (Public Records) $66,000 Public Records
• 1992-04-24 Sold (Public Records) $36,000 Public Records

Property tax history

-1.9%/yr

Latest (2025): $1,113 · +1.1% YoY. Source: county tax records.