516 Lodge Ave · Toledo, OH 43609

$94,000

2 bd · 1.0 ba · 873 sqft · SingleFamily public records · 7 Days on market

Built 1920 3,800 sqft lot Est $82k · 15% over

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Why this score? — see what drove the D 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 +16.8/30.0
• Appreciation +5.4/10.0
• DSCR +5.2/10.0
• Rent growth +4.5/5.0
• 1% rule +4.4/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +1.0/15.0

Listing remarks MLS

Fully remodeled 2-bedroom, 1-bath bungalow. This home features a completely updated kitchen with modern finishes, new interior AND exterior paint throughout, and durable vinyl plank flooring. The layout offers a bright and functional living space with two comfortable bedrooms. The basement has been redone, providing clean, usable space for storage, laundry. All major updates are done—just move in and enjoy.

Key facts

• Plenty of storage
• Updated kitchen
• Spacious basement

Tags

• UPDATED KITCHEN
• SPACIOUS BASEMENT
• PLENTY OF STORAGE
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Cable available; Natural gas available; Internet available
• Home design: Single-family residence, one story, ground-level entry; Not attached to other units; No common walls
• Construction: Brick and vinyl siding exterior; Shingle roof; Other foundation
• Exterior features: Full fencing; City street frontage

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: Bedroom 2 on the main level
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Includes other interior features; Living room fireplace
• Laundry & utility: Washer and dryer included; Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $94k.

Deal economics

• At list price, monthly cash flow is $60 ($724/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $89k (5.7% below list).
• Recommended offer: $89k (5.7% below list) — sets the bar for 1% rule.

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: Arlington Elementary School (math 12% / reading 14%, grade F, #1,429 of 1,584 statewide, top 90%, 327 students, 0% FRL); Bowsher High School (math 23% / reading 45%, grade F, #596 of 781 statewide, top 76%, 1,240 students, 49% FRL) — zoned schools average 25% FRL vs 72% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+7.8%/yr); 99 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).

Forward outlook

• In year one you build about $1k of equity ($650 loan paydown + $704 appreciation (0.8% local appreciation)).
• Lucas County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.8% appreciation + 7.8% rent growth), your $26k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 19y 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: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,608 (5.7% below list)

Questions for the listing agent

1. Built in 1920 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.94% ✗
• Cap rate: 7.06%
• Cash-on-cash: 2.75%
• DSCR: 1.12
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $82,062
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
502 Brighton Ave	0.06mi	2/1.0	884 (+1%)	1mo	$123,900	$140	94
516 Lodge Ave	0.00mi	2/1.0	873 (0%)	11mo	$82,000	$94	91
648 Carlton St	0.21mi	2/1.0	880 (+1%)	2mo	$86,000	$98	87
713 Geneva Ave	0.30mi	2/1.0	843 (-3%)	5mo	$52,500	$62	76
864 Hampton Ave	0.44mi	2/1.0	878 (+1%)	9mo	$90,000	$103	71
605 Wright Ave	0.39mi	3/1.0 (+1)	875 (+0%)	9mo	$75,000	$86	69
933 Wright Ave	0.66mi	2/1.0	864 (-1%)	3mo	$60,500	$70	65
1922 Heatherdale Dr	0.54mi	2/1.0	946 (+8%)	2mo	$111,000	$117	60
230 Somerset St	0.74mi	2/1.0	864 (-1%)	12mo	$75,000	$87	54
1335 Colburn St	0.36mi	3/1.0 (+1)	962 (+10%)	10mo	$22,500	$23	53
175 Corinth St	0.57mi	2/1.0	758 (-13%)	2mo	$23,500	$31	50
624 Myers St	0.75mi	2/1.0	984 (+13%)	12mo	$136,000	$138	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.75% appreciation · 7.8% rent growth · sell at horizon

5-year hold

• IRR: 6.6%
• Equity multiple: 1.34×
• Total profit: $8,949
• Equity at exit: $30,870

10-year hold

• IRR: 14.0%
• Equity multiple: 2.88×
• Total profit: $49,360
• Equity at exit: $40,096

Cash invested: $26,320 (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 43609

• Home prices YoY: 0.3%
• Rents YoY: 7.8%
• Active inventory: 99
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $886 high
• Mortgage (P&I): −$493
• Tax from tax record: −$108 /mo · $1,290/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$186
• Net cashflow: $60

Break-even live

Break-even rent $810

Max offer price $94,000

Occupancy floor 88%

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: $23,500
• Closing costs: $2,820
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
538 Nicholas St Unit B Toledo, OH	1.0	1.0	600	$600	$1.00	43d	1	0.08mi
705 Nicholas St Toledo, OH	2.0	1.0	1037	$900	$0.87	43d	1	0.21mi
1418 Colburn St Toledo, OH	3.0	1.0	992	$1,200	$1.21	14d	1	0.30mi
1521 Emma St Unit LABS 1521 Emma St, B 43051619729 Toledo, OH	1.0	1.0	975	$900	$0.92	43d	1	0.31mi
707 Toronto Ave Toledo, OH	1.0	1.0	750	$775	$1.03	23d	1	0.31mi
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	43d	1	0.47mi
1734 Arlington Ave Toledo, OH	2.0	1.0	700	$800	$1.14	14d	1	0.50mi
2594 Broadway St Toledo, OH	2.0	1.0	1076	$825	$0.77	43d	1	0.73mi
1037 Orchard St Toledo, OH	2.0	1.0	696	$820	$1.18	21d	1	0.77mi
2044 Arlington Ave Toledo, OH	2.0	1.0	800	$825	$1.03	21d	1	0.78mi
307 Danberry St Toledo, OH	2.0	1.0	988	$950	$0.96	43d	1	0.85mi
2314 Airline Ave Toledo, OH	3.0	1.0	1123	$1,478	$1.32	23d	1	1.01mi
1785 Tecumseh St Toledo, OH	2.0	1.0	930	$900	$0.97	43d	1	1.04mi
827 Colburn St Toledo, OH	2.0	1.0	1092	$750	$0.69	43d	1	1.12mi
771 Orchard St Unit 7715 Toledo, OH	2.0	1.0	1086	$645	$0.59	23d	1	1.16mi
223 Charles St Toledo, OH	2.0	1.0	612	$875	$1.43	43d	1	1.17mi
581 Colima Dr Toledo, OH	2.0	1.0	900	$1,100	$1.22	14d	1	1.20mi
2820 Airport Hwy Toledo, OH	1.0	1.0	580	$679	$1.17	43d	1	1.49mi
2820 Airport Hwy Toledo, OH	1.0	1.0	580	$704	$1.21	23d	1	1.49mi
2820 Airport Hwy Toledo, OH	1.0	1.0	580	$679	$1.17	14d	1	1.49mi

Listing history 6 events

1. 2026-06-15
   status $94,000 Pending 7 DOM
2. 2026-06-15
   days on market $94,000 Active 7 DOM
3. 2026-06-14
   days on market $94,000 Active 5 DOM
4. 2026-06-10
   days on market $94,000 Active 2 DOM
5. 2026-06-09
   remarks 438-char remark
6. 2026-06-09
   listed $94,000 Active 1 DOM

ⓘ 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: $1,290 · $108/mo
• Projected year-2 tax: $1,378 · $115/mo
• Expected delta: +$88/yr (+$7/mo · 6.8%)

ⓘ 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: $10,633
• − Mortgage interest: −$5,265
• − Property taxes: −$1,290
• − Insurance: −$470
• − Repairs & maintenance: −$851
• − Management: −$851
• − Depreciation: −$2,735
• Taxable loss: −$829
• Est. tax savings @ 24.0%: +$199
• After-tax cash flow: $923/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): 21,404
• Household income: $42,313
• Rent vs Own: 55.7% rent · 44.3% own
• Severe rent burden: 1603.0

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 0.66)
• Race & ethnicity: White 47% Black 29% Hispanic / Latino 17% Two or more races 9%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Arabic 1% 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: ▲ 0.75%
• Current HPI: 235.2515
• Rent YoY: ▲ 7.80%
• 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

+44.6% since first listed

15 events — show timeline

• 2026-06-08 Listed $94,000 NORIS
• 2025-10-14 Price Changed $82,000 NORIS
• 2025-08-12 Sold (Public Records) $82,000 Public Records
• 2025-08-01 Sold (MLS) $82,000 NORIS
• 2025-07-31 Price Changed $85,000 NORIS
• 2025-07-20 Contingent — NORIS
• 2025-07-11 Relisted — NORIS
• 2025-07-08 Contingent — NORIS
• 2025-07-07 Listed $85,000 NORIS
• 2025-07-01 Coming Soon $85,000 NORIS
• 2022-07-01 Sold (Public Records) $70,000 Public Records
• 2007-06-08 Sold (Public Records) $69,900 Public Records
• 2007-05-25 Sold (MLS) $69,900 NORIS
• 2007-04-12 Listed $69,900 NORIS
• 2003-08-29 Sold (Public Records) $65,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $1,290 · +16.7% YoY. Source: county tax records.