1701 Milroy Ave · Toledo, OH 43605

$40,000

2 bd · 1.0 ba · 638 sqft · SingleFamily public records · 23 Days on market

Built 1951 4,700 sqft lot Est $66k · 39% under ↓ 11% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.8/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT STARTER HOME, GOOD LOCATION NEXT TO OAKDALE SCHOOL, NEW WINDOWS, NEWER FURNACE AND ROOF, ALL NATURAL WOODWORK, POSSESSION AT CLOSING. THIS ONE WON'T LAST!

Key facts

• Full basement
• Fenced-in yard
• 4,700 sq ft lot

Tags

• FULL BASEMENT
• FENCED-IN YARD
• IMMEDIATE INCOME POTENTIAL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $345 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($877 rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.6% 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: Oakdale Elementary School (math 13% / reading 21%, grade F, #1,337 of 1,584 statewide, top 86%, 385 students, 0% FRL); Waite High School (math 12% / reading 24%, grade F, #687 of 781 statewide, top 88%, 997 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 (+5.4%/yr); 117 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 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 $277 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 + 5.4% rent growth), your $11k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 25y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,400 (1.5% below list)

Questions for the listing agent

1. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.19% ✓
• Cap rate: 16.64%
• Cash-on-cash: 36.96%
• DSCR: 2.64
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $65,714
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1701 Milroy Ave	0.00mi	2/1.0	638 (0%)	1mo	$56,100	$88	99
1534 Pool St	0.43mi	2/1.0	664 (+4%)	10mo	$68,500	$103	64
1517 Kedron St	0.23mi	2/1.5	725 (+14%)	8mo	$84,500	$117	58

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 · 5.37% rent growth · sell at horizon

5-year hold

• IRR: 35.9%
• Equity multiple: 2.58×
• Total profit: $17,689
• Equity at exit: $5,964

10-year hold

• IRR: 44.0%
• Equity multiple: 5.75×
• Total profit: $53,152
• Equity at exit: $3,458

Cash invested: $11,200 (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 43605

• Home prices YoY: -25.6%
• Rents YoY: 5.4%
• Active inventory: 117
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $877 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$122 /mo · $1,459/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $345

Break-even live

Break-even rent $441

Max offer price $40,000

Occupancy floor 56%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1411 Oakmont St Toledo, OH	1.0	1.0	750	$800	$1.07	13d	1	0.39mi
1464 Sunshine St Unit 1 Oregon, OH	1.0	1.0	504	$700	$1.39	13d	1	0.95mi
2480 Tracy Rd Northwood, OH	1.0–2.0	1.0	717	$1,015	$1.41	13d	1	0.95mi
950 Oak St Unit 1 Toledo, OH	2.0	1.0	725	$700	$0.97	43d	1	0.97mi

Listing history 6 events

1. 2026-03-19
   status Pending
2. 2026-02-18
   listed $40,000 Active
3. 2025-10-09
   price $41,000 160-char remark

   Show marketing remark (160 chars)

   GREAT STARTER HOME, GOOD LOCATION NEXT TO OAKDALE SCHOOL, NEW WINDOWS, NEWER FURNACE AND ROOF, ALL NATURAL WOODWORK, POSSESSION AT CLOSING. THIS ONE WON'T LAST!

4. 2002-01-28
   soldstatus $41,000 160-char remark

   Show marketing remark (160 chars)

   GREAT STARTER HOME, GOOD LOCATION NEXT TO OAKDALE SCHOOL, NEW WINDOWS, NEWER FURNACE AND ROOF, ALL NATURAL WOODWORK, POSSESSION AT CLOSING. THIS ONE WON'T LAST!

5. 2002-01-02
   price $44,900 160-char remark

   Show marketing remark (160 chars)

   GREAT STARTER HOME, GOOD LOCATION NEXT TO OAKDALE SCHOOL, NEW WINDOWS, NEWER FURNACE AND ROOF, ALL NATURAL WOODWORK, POSSESSION AT CLOSING. THIS ONE WON'T LAST!

6. 2001-11-20
   listed $44,900 160-char remark

   Show marketing remark (160 chars)

   GREAT STARTER HOME, GOOD LOCATION NEXT TO OAKDALE SCHOOL, NEW WINDOWS, NEWER FURNACE AND ROOF, ALL NATURAL WOODWORK, POSSESSION AT CLOSING. THIS ONE WON'T LAST!

ⓘ 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: $1,459 · $122/mo
• Projected year-2 tax: $1,459 · $122/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 ≥100°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: $10,527
• − Mortgage interest: −$2,241
• − Property taxes: −$1,459
• − Insurance: −$200
• − Repairs & maintenance: −$842
• − Management: −$842
• − Depreciation: −$1,164
• Taxable income: $3,779
• Est. tax owed @ 24.0%: −$907
• After-tax cash flow: $3,233/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): 24,441
• Household income: $39,118
• Rent vs Own: 51.9% rent · 48.1% own
• Severe rent burden: 1257.0

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 0.61)
• Race & ethnicity: White 57% Hispanic / Latino 21% Black 14% Two or more races 14%
• Hispanic origin (detail): Mexican 17% Puerto Rican 2%
• Common ancestry: Romanian 3% Lithuanian 2% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 91% English-only · Spanish 7% 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: ▼ -47.85%
• Current HPI: 138.6894
• Rent YoY: ▲ 5.37%
• 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

-10.9% since first listed

6 events — show timeline

• 2026-03-19 Pending — NORIS
• 2026-02-18 Listed $40,000 NORIS
• 2025-10-09 Price Changed $41,000 NORIS
• 2002-01-28 Sold (MLS) $41,000 NORIS
• 2002-01-02 Price Changed $44,900 NORIS
• 2001-11-20 Listed $44,900 NORIS

Property tax history

+2.9%/yr

Latest (2025): $1,459 · +0.7% YoY. Source: county tax records.