2229 Parkwood Ave · Toledo, OH 43620

$100,000

4 bd · 1.5 ba · 3,434 sqft · SingleFamily public records · 103 Days on market

Built 1912 0.38 ac lot $29/sqft · 57% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Grand home being sold as-is, CASH only, proof of funds required for showing. House and garage roofs need repairs, possible replacement, front porch and overhangs need to be replaced, plumbing and electrical need update-repair, needs new heating system. All offers subject to approval of City of Toledo; verification of funds for repairs to be verified.

Key facts

• 0.38 acre lot
• 3 garage spots
• Built 1912

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $3k ($34k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Cap rate 40.3% vs local median 7.7% 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: Grove Patterson Academy Elementary School (math 47% / reading 66%, grade C+, #761 of 1,584 statewide, top 48%, 403 students, 38% 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 19% FRL vs 72% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 34% at this address vs 20% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Toledo City average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 22 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• At $4,500/mo this rent would consume 252% of the median local household income ($21k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $28k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $71k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $91,000 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1912 — 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. 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?
8. 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.
9. 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.
10. 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: 4.50% ✓
• Cap rate: 40.27%
• Cash-on-cash: 121.34%
• DSCR: 6.40
• GRM: 1.9

CMA / ARV

• ARV (median comp): $232,373
• List price: $100,000
• Delta: -56.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2238 Scottwood Ave	0.06mi	4/3.5	3,527 (+3%)	10mo	$315,777	$90	76
2244 Scottwood Ave	0.07mi	4/2.5	3,234 (-6%)	15mo	$365,000	$113	71
2040 Glenwood Ave	0.31mi	5/3.0 (+1)	3,338 (-3%)	7mo	$215,000	$64	64
629 Virginia St	0.09mi	5/3.5 (+1)	3,802 (+11%)	1mo	$195,000	$51	64
2267 Robinwood Ave	0.19mi	5/3.5 (+1)	3,670 (+7%)	8mo	$346,750	$94	60
2309 Robinwood Ave	0.21mi	4/2.5	3,812 (+11%)	18mo	$279,900	$73	53
2815 Collingwood Blvd	0.73mi	5/3.5 (+1)	3,949 (+15%)	6mo	$279,000	$71	23

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.86×
• Total profit: $164,215
• Equity at exit: $14,910

10-year hold

• IRR: —
• Equity multiple: 14.41×
• Total profit: $375,557
• Equity at exit: $8,646

Cash invested: $28,000 (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 43620

• Home prices YoY: -33.0%
• Active inventory: 22
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $4,500 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$158 /mo · $1,891/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$945
• Net cashflow: $2,831

Break-even live

Break-even rent $916

Max offer price $100,000

Occupancy floor 32%

Sensitivity live

Price	-10% $2,888	-5% $2,860	+0% $2,831	+5% $2,803	+10% $2,775
Rent	-10% $2,476	-5% $2,654	+0% $2,831	+5% $3,009	+10% $3,187
Rate	-1.0pp $2,882	-0.5pp $2,857	base $2,831	+0.5pp $2,805	+1.0pp $2,779

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
335 N Superior St Toledo, OH	3.0	2.0	3600	$4,500	$1.25	45d	1	1.44mi

Listing history 20 events

1. 2026-06-21
   days on market $100,000 Active 103 DOM
2. 2026-06-18
   days on market $100,000 Active 100 DOM
3. 2026-06-17
   days on market $100,000 Active 99 DOM
4. 2026-06-16
   days on market $100,000 Active 98 DOM
5. 2026-06-15
   days on market $100,000 Active 97 DOM
6. 2026-06-14
   days on market $100,000 Active 95 DOM
7. 2026-06-10
   days on market $100,000 Active 92 DOM
8. 2026-06-09
   days on market $100,000 Active 91 DOM
9. 2026-06-08
   days on market $100,000 Active 90 DOM
10. 2026-06-07
    days on market $100,000 Active 89 DOM
11. 2026-06-05
    days on market $100,000 Active 86 DOM
12. 2026-06-03
    days on market $100,000 Active 85 DOM
13. 2026-06-02
    days on market $100,000 Active 84 DOM
14. 2026-06-01
    days on market $100,000 Active 83 DOM
15. 2026-05-31
    days on market $100,000 Active 82 DOM
16. 2026-05-30
    days on market $100,000 Active 81 DOM
17. 2026-03-10
    listed $100,000 Active 352-char remark

    Show marketing remark (352 chars)

    Grand home being sold as-is, CASH only, proof of funds required for showing. House and garage roofs need repairs, possible replacement, front porch and overhangs need to be replaced, plumbing and electrical need update-repair, needs new heating system. All offers subject to approval of City of Toledo; verification of funds for repairs to be verified.

18. 2026-02-20
    historical $100,000 352-char remark

    Show marketing remark (352 chars)

    Grand home being sold as-is, CASH only, proof of funds required for showing. House and garage roofs need repairs, possible replacement, front porch and overhangs need to be replaced, plumbing and electrical need update-repair, needs new heating system. All offers subject to approval of City of Toledo; verification of funds for repairs to be verified.

19. 1987-04-01
    soldstatus $71,000
20. 1968-07-29
    soldstatus $21,000

ⓘ 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: $1,891 · $158/mo
• Projected year-2 tax: $1,891 · $158/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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,000
• − Mortgage interest: −$5,602
• − Property taxes: −$1,891
• − Insurance: −$500
• − Repairs & maintenance: −$4,320
• − Management: −$4,320
• − Depreciation: −$2,909
• Taxable income: $34,459
• Est. tax owed @ 24.0%: −$8,270
• After-tax cash flow: $25,706/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 · 437,818 people
• City population: 280,811
• Metro: Toledo, OH
• Population (ZIP): 5,039
• Household income: $21,405
• Rent vs Own: 70.9% rent · 29.1% own
• Severe rent burden: 2.1

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 51% White 36% Hispanic / Latino 9% Two or more races 7%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Romanian 4% Lithuanian 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Other Indo-European 1% Tagalog/Filipino 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: ▼ -63.87%
• Current HPI: 129.7922
• Rent YoY: —
• Metro: —
• 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

+376.2% since first listed

4 events — show timeline

• 2026-03-10 Listed $100,000 NORIS
• 2026-02-20 Coming Soon $100,000 NORIS
• 1987-04-01 Sold (Public Records) $71,000 Public Records
• 1968-07-29 Sold (Public Records) $21,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $1,891 · -0.7% YoY. Source: county tax records.