3334 Thelma Dr · Toledo, OH 43613

$129,900

2 bd · 1.0 ba · 1,672 sqft · SingleFamily public records · 154 Days on market

Built 1927 4,800 sqft lot Est $231k · 44% 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 +25.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +6.5/10.0
• Schools +3.5/10.0
• Rent growth +3.3/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Turn this adorable bungalow into Home Sweet Home with your decorating skills! Updates galore include new roof, HVAC, concrete driveway, wiring, plumbing, remodeled bath with step-in shower, more. You'll find hardwood floors under the carpeting. The huge upstairs bedroom with walk-in closet could be turned into 2 bedrooms. Bonus: sold with . 22 acres of vacant land next door. Great value, act fast!!

Key facts

• Hvac
• Remodeled bath
• Step-in shower

Tags

• NEW ROOF
• HVAC
• CONCRETE DRIVEWAY
• REMODELED BATH
• STEP-IN SHOWER
• HARDWOOD FLOORS

Property features AI

Exterior

• Parking: Driveway with space for 2 vehicles
• Utilities: Cable connected; Electricity connected; Natural gas connected; Public water; Sanitary sewer
• Home design: Single family residence; Residential property; One and one-half levels; No attached units; No common walls; Located at 3334 Thelma Dr, Toledo, OH 43613; Subdivision: Brock Place
• Construction: Wood siding; Other foundation
• Exterior features: Covered patio; Shingle roof

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Primary bedroom on main level; Second bedroom on upper level
• Flooring: Carpet; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning; Circuit breaker electrical
• Interior features: Walk-in closet(s); Basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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.
• Washington Local (urban): math 37% / reading 47% proficiency, ranked #528 of 656 in OH (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hiawatha Elementary School (math 37% / reading 52%, grade F, #991 of 1,584 statewide, top 64%, 345 students, 49% FRL); Whitmer High School (math 38% / reading 48%, grade F, #494 of 781 statewide, top 63%, 2,247 students, 42% FRL) — zoned schools at 46% FRL track the district average.
• Market conditions: Rents rising (+3.3%/yr); 111 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $898 of loan paydown is wiped out by about $4k 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 + 3.3% rent growth), your $36k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 23y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $63k; list at $130k implies a 106% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $114,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 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 1927 — 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: 1.15% ✓
• Cap rate: 9.19%
• Cash-on-cash: 10.35%
• DSCR: 1.46
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $230,736
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5907 Gany Mede Dr	0.29mi	3/2.0 (+1)	1,632 (-2%)	12mo	$206,500	$127	64
6280 Secor Rd	0.14mi	3/2.0 (+1)	1,540 (-8%)	11mo	$268,000	$174	62
6111 Meteor Ave	0.61mi	2/1.5	1,688 (+1%)	8mo	$169,000	$100	61
3640 Brock Dr	0.41mi	3/2.0 (+1)	1,740 (+4%)	10mo	$240,000	$138	56
5909 Merle St	0.74mi	2/1.5	1,742 (+4%)	0mo	$60,000	$34	56
5949 Murnen Rd	0.24mi	3/1.5 (+1)	1,914 (+14%)	2mo	$190,000	$99	56
6399 Whiteford Center Rd	0.55mi	2/1.0	1,520 (-9%)	6mo	$175,000	$115	54
2823 Provincetowne Dr	0.66mi	3/1.5 (+1)	1,534 (-8%)	7mo	$252,000	$164	42
6031 Meteor Ave	0.61mi	3/2.0 (+1)	1,530 (-8%)	10mo	$245,000	$160	40
6704 Summerlyn Lakes Dr	0.62mi	2/2.0	1,438 (-14%)	7mo	$340,000	$236	38
3658 Judy Dr	0.60mi	3/1.0 (+1)	1,482 (-11%)	13mo	$215,500	$145	37
6027 Merle St	0.70mi	3/1.5 (+1)	1,452 (-13%)	14mo	$175,000	$121	26

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 · 3.3% rent growth · sell at horizon

5-year hold

• IRR: -0.4%
• Equity multiple: 0.98×
• Total profit: $-614
• Equity at exit: $19,369

10-year hold

• IRR: 9.5%
• Equity multiple: 1.74×
• Total profit: $27,085
• Equity at exit: $11,231

Cash invested: $36,372 (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 43613

• Home prices YoY: -20.7%
• Rents YoY: 3.3%
• Active inventory: 111
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,499 high
• Mortgage (P&I): −$681
• Tax from tax record: −$135 /mo · $1,624/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $314

Break-even live

Break-even rent $1,102

Max offer price $129,900

Occupancy floor 74%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3145 Brock Dr Toledo, OH	3.0	2.0	1100	$1,600	$1.45	14d	1	0.24mi
6022 Clover Ln Toledo, OH	3.0	2.0	1296	$1,750	$1.35	21d	1	0.72mi
7076 Middlebury Dr Lambertville, MI	3.0	2.0	1248	$2,495	$2.00	14d	1	1.20mi
2527 Arletta St Toledo, OH	2.0	1.0	1100	$1,100	$1.00	43d	1	1.36mi
2338 Bodette Ave Toledo, OH	3.0	2.0	1150	$1,800	$1.57	21d	1	1.39mi
2347 Bucklew Dr Toledo, OH	3.0	2.0	1200	$1,600	$1.33	14d	1	1.47mi

Listing history 21 events

1. 2026-04-24
   status Pending
2. 2026-03-17
   price $129,900
3. 2026-01-13
   price $139,900
4. 2025-11-21
   listed $149,900 Active
5. 2008-08-05
   soldstatus $63,000
6. 2007-08-20
   historical
7. 2007-04-17
   listed $94,900
8. 2007-03-28
   historical
9. 2006-09-27
   listed $98,900
10. 2006-03-27
    soldstatus $69,999
11. 2006-02-20
    listed $69,999
12. 2006-01-31
    historical
13. 2005-10-24
    listed $74,999
14. 2005-08-18
    historical
15. 2005-07-18
    listed $91,000
16. 2005-07-18
    historical
17. 2005-02-18
    listed $97,900
18. 2004-09-23
    historical
19. 2004-06-30
    listed $99,900
20. 2003-10-07
    historical
21. 2003-07-28
    listed $99,900

ⓘ 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: $1,624 · $135/mo
• Projected year-2 tax: $1,825 · $152/mo
• Expected delta: +$201/yr (+$17/mo · 12.4%)

ⓘ 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: $17,990
• − Mortgage interest: −$7,276
• − Property taxes: −$1,624
• − Insurance: −$650
• − Repairs & maintenance: −$1,439
• − Management: −$1,439
• − Depreciation: −$3,779
• Taxable income: $1,782
• Est. tax owed @ 24.0%: −$428
• After-tax cash flow: $3,336/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: Washington Local
• NCES district ID: 3904823
• Math proficiency: 37% ▼ -20.00%
• Reading proficiency: 47% ▼ -11.00%
• Median HH income: $42,105
• Composite: 35.36/100
• National rank: #4957
• State rank: #528 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): 30,780
• Household income: $64,384
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 917.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Black 15% Two or more races 10% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 9% Lithuanian 3% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% Arabic 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: ▼ -62.37%
• Current HPI: 239.1345
• Rent YoY: ▲ 3.30%
• 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

+30.0% since first listed

21 events — show timeline

• 2026-04-24 Pending — NORIS
• 2026-03-17 Price Changed $129,900 NORIS
• 2026-01-13 Price Changed $139,900 NORIS
• 2025-11-21 Listed $149,900 NORIS
• 2008-08-05 Sold (Public Records) $63,000 Public Records
• 2007-08-20 Listing Removed — NORIS
• 2007-04-17 Listed $94,900 NORIS
• 2007-03-28 Listing Removed — NORIS
• 2006-09-27 Listed $98,900 NORIS
• 2006-03-27 Sold (MLS) $69,999 NORIS
• 2006-02-20 Listed $69,999 NORIS
• 2006-01-31 Listing Removed — NORIS
• 2005-10-24 Listed $74,999 NORIS
• 2005-08-18 Listing Removed — NORIS
• 2005-07-18 Listing Removed — NORIS
• 2005-07-18 Listed $91,000 NORIS
• 2005-02-18 Listed $97,900 NORIS
• 2004-09-23 Listing Removed — NORIS
• 2004-06-30 Listed $99,900 NORIS
• 2003-10-07 Listing Removed — NORIS
• 2003-07-28 Listed $99,900 NORIS

Property tax history

+2.4%/yr

Latest (2025): $1,624 · +0.7% YoY. Source: county tax records.