1236 Belmont Ave · Toledo, OH 43607

$34,900

3 bd · 1.0 ba · 1,004 sqft · SingleFamily public records · 4 Days on market

Built 1907 10,500 sqft lot Est $36k · 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.0/15.0
• Rent growth +4.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

This Single Family home in Toledo, Ohio offers 1,004 square feet of living space on a . 24-acre double lot. Built in 1907, this one-story property features 3 bedrooms and 1 bathroom.

Key facts

• 0.24 acre lot
• Built 1907
• Listed 4 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $645 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Cap rate 28.5% 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: Pickett Elementary School (math 8% / reading 2%, grade F, #1,554 of 1,584 statewide, top 100%, 274 students, 0% FRL); Jesup W. Scott High School (math 8% / reading 17%, grade F, #726 of 781 statewide, top 94%, 736 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 fast (+8.2%/yr); 83 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% 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).
• This rent runs 33% of the median local income ($41k/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 $241 of loan paydown is wiped out by about $1k 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 + 8.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $34,900

Questions for the listing agent

1. Built in 1907 — 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: 3.29% ✓
• Cap rate: 28.46%
• Cash-on-cash: 79.17%
• DSCR: 4.52
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $36,144
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1534 Pinewood Ave	0.42mi	3/1.0	1,030 (+3%)	9mo	$74,900	$73	69
1338 Pinewood Ave	0.25mi	2/1.0 (-1)	900 (-10%)	17mo	$9,000	$10	52
1524 Vance St	0.36mi	3/1.0	920 (-8%)	22mo	$33,000	$36	51
1049 King St	0.56mi	2/1.0 (-1)	1,109 (+10%)	3mo	$29,000	$26	48
109 Wellington St	0.66mi	2/1.0 (-1)	859 (-14%)	3mo	$4,500	$5	38
1546 Tecumseh St	0.46mi	2/1.0 (-1)	854 (-15%)	14mo	$22,650	$27	37
1561 Hamilton St	0.53mi	3/1.0	1,144 (+14%)	18mo	$52,500	$46	37
1205 Manila St	0.74mi	3/1.5	1,085 (+8%)	19mo	$79,310	$73	34
1350 Pere St	0.73mi	2/1.0 (-1)	936 (-7%)	23mo	$27,500	$29	30
1818 Trinity Dr	0.69mi	3/1.0	1,137 (+13%)	23mo	$95,000	$84	27

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 85.0%
• Equity multiple: 5.25×
• Total profit: $41,515
• Equity at exit: $5,204

10-year hold

• IRR: 89.5%
• Equity multiple: 12.95×
• Total profit: $116,810
• Equity at exit: $3,018

Cash invested: $9,772 (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 43607

• Home prices YoY: -27.5%
• Rents YoY: 8.2%
• Active inventory: 83
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,150 high
• Mortgage (P&I): −$183
• Tax from tax record: −$66 /mo · $794/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $645

Break-even live

Break-even rent $334

Max offer price $34,900

Occupancy floor 39%

Sensitivity live

Price	-10% $664	-5% $655	+0% $645	+5% $635	+10% $625
Rent	-10% $554	-5% $599	+0% $645	+5% $690	+10% $736
Rate	-1.0pp $662	-0.5pp $654	base $645	+0.5pp $636	+1.0pp $626

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1140 Palmwood Ave Toledo, OH	3.0	1.0	1292	$1,500	$1.16	44d	1	0.44mi
319 N Detroit Ave Toledo, OH	3.0	1.0	1341	$845	$0.63	44d	1	0.60mi
1785 Tecumseh St Toledo, OH	2.0	1.0	930	$900	$0.97	44d	1	0.69mi
1026 Oakwood Ave Toledo, OH	2.0	1.0	1100	$850	$0.77	44d	1	0.69mi
915 Woodstock Ave Toledo, OH	3.0	1.5	1500	$1,100	$0.73	24d	1	0.98mi
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	44d	1	1.00mi
2117 Clinton St Toledo, OH	3.0	1.0	1256	$1,115	$0.89	44d	1	1.11mi
1133 Parkside Blvd Toledo, OH	2.0	1.0	960	$850	$0.89	44d	1	1.15mi
1418 Colburn St Toledo, OH	3.0	1.0	992	$1,200	$1.21	14d	1	1.24mi
523 Nicholas St Toledo, OH	3.0	1.0	1290	$1,350	$1.05	14d	1	1.27mi
532 Carlton St Toledo, OH	3.0	1.0	1130	$1,050	$0.93	44d	1	1.28mi
1738 Milburn Ave Toledo, OH	2.0	1.0	1016	$650	$0.64	24d	1	1.41mi
2347 Rosedale Ave Toledo, OH	2.0	1.0	767	$875	$1.14	44d	1	1.42mi
705 Nicholas St Toledo, OH	2.0	1.0	1037	$900	$0.87	44d	1	1.45mi
724 Spencer St Toledo, OH	3.0	1.5	1127	$1,100	$0.98	44d	1	1.47mi
837 Colburn St Unit 2 Toledo, OH	2.0	1.0	1158	$695	$0.60	24d	1	1.47mi
837 Colburn St Unit 1 Toledo, OH	2.0	1.0	1178	$700	$0.59	44d	1	1.47mi
827 Colburn St Toledo, OH	2.0	1.0	1092	$750	$0.69	44d	1	1.48mi
625 Virginia St Toledo, OH	2.0	1.0	1000	$800	$0.80	44d	1	1.49mi
625 Virginia St Toledo, OH	2.0	1.0	1000	$850	$0.85	14d	1	1.49mi

Listing history 2 events

1. 2026-02-20
   status Pending
2. 2026-02-16
   listed $34,900 Active

ⓘ 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: $794 · $66/mo
• Projected year-2 tax: $794 · $66/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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,799
• − Mortgage interest: −$1,955
• − Property taxes: −$794
• − Insurance: −$174
• − Repairs & maintenance: −$1,104
• − Management: −$1,104
• − Depreciation: −$1,015
• Taxable income: $7,653
• Est. tax owed @ 24.0%: −$1,837
• After-tax cash flow: $5,900/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): 19,469
• Household income: $41,335
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 1157.0

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: Black 59% White 27% Two or more races 6% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Other Indo-European 1% Spanish 1% Russian/Polish/Slavic 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: ▼ -66.58%
• Current HPI: 175.2772
• Rent YoY: ▲ 8.19%
• 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

2 events — show timeline

• 2026-02-20 Pending — NORIS
• 2026-02-16 Listed $34,900 NORIS

Property tax history

+8.7%/yr

Latest (2025): $794 · +5.7% YoY. Source: county tax records.