3554 Cecelia Ave · Toledo, OH 43608

$79,900

2 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 27 Days on market

Built 1961 4,700 sqft lot Est $74k · 8% over

---

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 +26.6/30.0
• DSCR +9.1/10.0
• 1% rule +7.0/10.0
• ARV discount +4.0/15.0
• Rent growth +3.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a charming 3 bedroom 1.5 bath home with a full basement. All appliances stay. Furnace & AC appproximately 5 yrs. old, HW tank is newer and electric updated. 2 car garage. Located close to freeway access, boating, golfing, shopping & parks. Well maintained property priced to move.

Key facts

• Large windows
• Spacious kitchen
• Detached garage

Tags

• SPACIOUS KITCHEN
• LARGE WINDOWS
• DETACHED GARAGE
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO RESTAURANTS

Property features AI

Exterior

• Parking: Detached garage; Concrete driveway/parking; Total parking for 4 vehicles; Garage capacity approximately 1.5 cars
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Cable available
• Home design: Single-family residence; Detached property with two levels (two stories)
• Construction: Wood siding; Block foundation; Basement: block
• Exterior features: Shingle roof

Interior

• Bedrooms: Upper-level bedrooms (two rooms ~11x14 and 10x13; a third bedroom ~11x11 on the upper level)
• Flooring: Carpet; Luxury vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating
• Interior features: 5 total rooms; Other interior features
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($958 rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 7.6% in Toledo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Leverette Elementary School (math 3% / reading 13%, grade F, #1,517 of 1,584 statewide, top 96%, 429 students, 0% FRL); Woodward High School (math 2% / reading 22%, grade F, #726 of 781 statewide, top 94%, 672 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.
• Market conditions: Rents rising (+3.9%/yr); 58 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• This rent runs 39% of the median local income ($29k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k 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 + 3.9% rent growth), your $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y 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.

Recommended offer $78,701 (1.5% below list)

Questions for the listing agent

1. Built in 1961 — 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: 1.20% ✓
• Cap rate: 9.50%
• Cash-on-cash: 11.46%
• DSCR: 1.51
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $74,088
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3233 Jeannette Ave	0.42mi	3/1.0 (+1)	1,173 (-0%)	3mo	$86,000	$73	73
3405 Maher St	0.21mi	3/1.5 (+1)	1,293 (+10%)	2mo	$105,000	$81	65
3427 Beaumont Dr	0.30mi	3/1.0 (+1)	1,080 (-8%)	3mo	$22,000	$20	65
1548 Booth Ave	0.50mi	3/1.0 (+1)	1,125 (-4%)	3mo	$95,000	$84	62
910 Woodward Ave	0.41mi	3/2.0 (+1)	1,104 (-6%)	4mo	$34,000	$31	58
1101 Ketcham Ave	0.44mi	3/1.0 (+1)	1,068 (-9%)	3mo	$25,850	$24	56
1102 Woodward Ave	0.41mi	3/1.0 (+1)	1,041 (-12%)	4mo	$62,000	$60	54
1821 Ridgewood Ave	0.64mi	3/1.0 (+1)	1,090 (-7%)	2mo	$48,000	$44	51
1541 Booth Ave	0.48mi	3/1.0 (+1)	1,057 (-10%)	6mo	$90,100	$85	51
3550 Wersell Ave	0.61mi	3/1.0 (+1)	1,054 (-10%)	3mo	$48,000	$46	47
3020 Mulberry St	0.75mi	3/2.0 (+1)	1,155 (-2%)	8mo	$77,000	$67	47
358 E Manhattan Blvd	0.71mi	3/1.0 (+1)	1,032 (-12%)	6mo	$65,000	$63	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 · 3.89% rent growth · sell at horizon

5-year hold

• IRR: 1.8%
• Equity multiple: 1.07×
• Total profit: $1,536
• Equity at exit: $11,913

10-year hold

• IRR: 12.2%
• Equity multiple: 2.01×
• Total profit: $22,514
• Equity at exit: $6,908

Cash invested: $22,372 (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 43608

• Home prices YoY: -21.3%
• Rents YoY: 3.9%
• Active inventory: 58
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $958 high
• Mortgage (P&I): −$419
• Tax from tax record: −$91 /mo · $1,092/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $214

Break-even live

Break-even rent $688

Max offer price $79,900

Occupancy floor 73%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3474 Maher St Toledo, OH	2.0	1.0	736	$1,125	$1.53	44d	1	0.18mi
3439 Jeannette Ave Toledo, OH	3.0	1.0	1098	$1,095	$1.00	44d	1	0.23mi
830 Homer Ave Toledo, OH	3.0	1.0	1208	$895	$0.74	44d	1	0.25mi
710 E Lake St Toledo, OH	3.0	1.0	1242	$1,000	$0.81	14d	1	0.32mi
3405 Beaumont Dr Toledo, OH	2.0	1.0	855	$745	$0.87	14d	1	0.35mi
524 E Hudson St Toledo, OH	2.0	1.0	1050	$825	$0.79	44d	1	0.58mi
524 E Hudson St Toledo, OH	3.0	1.0	1150	$895	$0.78	21d	1	0.58mi
516 E Hudson St Toledo, OH	3.0	1.0	1204	$1,098	$0.91	14d	1	0.60mi
424 E Lake St Toledo, OH	3.0	1.0	1228	$1,075	$0.88	14d	1	0.63mi
405 E Manhattan Blvd Toledo, OH	2.0	1.0	1000	$900	$0.90	14d	1	0.64mi
333 E Lake St Toledo, OH	2.0	1.0	800	$495	$0.62	23d	1	0.75mi
2807 Chestnut St Unit 2 Toledo, OH	1.0	1.0	745	$495	$0.66	21d	1	1.01mi
420 Everett St Toledo, OH	2.0	1.0	1000	$975	$0.97	23d	1	1.02mi
319 Dexter St Toledo, OH	2.0	1.0	990	$1,005	$1.02	44d	1	1.03mi
59 E Hudson St Toledo, OH	3.0	1.0	1368	$1,100	$0.80	44d	1	1.08mi
227 Everett St Toledo, OH	2.0	1.0	914	$850	$0.93	44d	1	1.10mi
329 Mettler St Toledo, OH	2.0	1.0	908	$975	$1.07	14d	1	1.10mi
1337 Moore St Toledo, OH	3.0	1.5	1194	$995	$0.83	21d	1	1.14mi
2621 Chestnut St Toledo, OH	3.0	1.0	1444	$1,250	$0.87	44d	1	1.14mi
3010 Warsaw St Toledo, OH	1.0	1.0	806	$525	$0.65	21d	1	1.21mi
225 Palmer St Toledo, OH	2.0	1.0	924	$895	$0.97	44d	1	1.32mi
2932 N Ontario St Toledo, OH	2.0	1.0	750	$750	$1.00	23d	1	1.38mi
413 Sandusky St Toledo, OH	2.0	1.0	900	$775	$0.86	23d	1	1.38mi
2023 N Erie St Toledo, OH	1.0	1.0	951	$685	$0.72	21d	1	1.43mi

Listing history 22 events

1. 2026-06-18
   days on market $79,900 Active 27 DOM
2. 2026-06-17
   days on market $79,900 Active 26 DOM
3. 2026-06-16
   days on market $79,900 Active 25 DOM
4. 2026-06-15
   days on market $79,900 Active 24 DOM
5. 2026-06-14
   days on market $79,900 Active 22 DOM
6. 2026-06-10
   days on market $79,900 Active 19 DOM
7. 2026-06-09
   days on market $79,900 Active 18 DOM
8. 2026-06-08
   days on market $79,900 Active 17 DOM
9. 2026-06-07
   days on market $79,900 Active 16 DOM
10. 2026-06-05
    days on market $79,900 Active 13 DOM
11. 2026-06-03
    days on market $79,900 Active 12 DOM
12. 2026-06-02
    days on market $79,900 Active 11 DOM
13. 2026-06-01
    days on market $79,900 Active 10 DOM
14. 2026-05-31
    days on market $79,900 Active 9 DOM
15. 2026-05-30
    days on market $79,900 Active 8 DOM
16. 2026-05-21
    listed $79,900 Active
17. 2025-10-14
    price $20,000 296-char remark

    Show marketing remark (296 chars)

    This is a charming 3 bedroom 1.5 bath home with a full basement. All appliances stay. Furnace & AC appproximately 5 yrs. old, HW tank is newer and electric updated. 2 car garage. Located close to freeway access, boating, golfing, shopping & parks. Well maintained property priced to move.

18. 2018-10-24
    soldstatus $131,500
19. 2018-10-17
    soldstatus $190,000
20. 2009-12-01
    soldstatus $20,000
21. 2009-11-20
    soldstatus $20,000 296-char remark

    Show marketing remark (296 chars)

    This is a charming 3 bedroom 1.5 bath home with a full basement. All appliances stay. Furnace & AC appproximately 5 yrs. old, HW tank is newer and electric updated. 2 car garage. Located close to freeway access, boating, golfing, shopping & parks. Well maintained property priced to move.

22. 2008-12-18
    listed $44,900 296-char remark

    Show marketing remark (296 chars)

    This is a charming 3 bedroom 1.5 bath home with a full basement. All appliances stay. Furnace & AC appproximately 5 yrs. old, HW tank is newer and electric updated. 2 car garage. Located close to freeway access, boating, golfing, shopping & parks. Well maintained property priced to move.

ⓘ 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: $1,092 · $91/mo
• Projected year-2 tax: $1,169 · $97/mo
• Expected delta: +$77/yr (+$6/mo · 7.1%)

ⓘ 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 ≥100°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: $11,499
• − Mortgage interest: −$4,476
• − Property taxes: −$1,092
• − Insurance: −$400
• − Repairs & maintenance: −$920
• − Management: −$920
• − Depreciation: −$2,324
• Taxable income: $1,367
• Est. tax owed @ 24.0%: −$328
• After-tax cash flow: $2,236/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): 13,593
• Household income: $29,275
• Rent vs Own: 44.6% rent · 55.4% own
• Severe rent burden: 911.0

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 0.60)
• Race & ethnicity: Black 57% White 25% Two or more races 9% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Spanish 7%

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: ▼ -37.73%
• Current HPI: 139.4964
• Rent YoY: ▲ 3.89%
• 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

+78.0% since first listed

7 events — show timeline

• 2026-05-21 Listed $79,900 NORIS
• 2025-10-14 Price Changed $20,000 NORIS
• 2018-10-24 Sold (Public Records) $131,500 Public Records
• 2018-10-17 Sold (Public Records) $190,000 Public Records
• 2009-12-01 Sold (Public Records) $20,000 Public Records
• 2009-11-20 Sold (MLS) $20,000 NORIS
• 2008-12-18 Listed $44,900 NORIS

Property tax history

+0.1%/yr

Latest (2025): $1,092 · +1.2% YoY. Source: county tax records.