2502 Bexford Pl · Ottawa Hills, OH 43606

$200,000

4 bd · 2.5 ba · 2,241 sqft · SingleFamily public records · 6 Days on market

Built 1946 0.29 ac lot $89/sqft · 42% below area Est $344k · 42% under

---

Why this score? — see what drove the C- 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).

• ARV discount +15.0/15.0
• Cash flow +10.7/30.0
• Schools +7.9/10.0
• 1% rule +5.1/10.0
• Livability +4.4/5.0
• DSCR +3.1/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor's opportunity in Ottawa Hills. Cash buyers, only. Property is being sold as-is and needs renovations—perfect for investors, flippers, or buyers looking to build equity. Priced to reflect condition and offers exceptional upside for the space provided. Ideally situated near both the high school and elementary, this home offers a prime location and great bones. Features include 2.1 baths, main-level primary with en suite, main-floor laundry, and some hardwood floors throughout. Spacious layout and large yard with mature trees.

Key facts

• Main floor laundry
• Large yard
• Prime location

Tags

• PRIME LOCATION
• MAIN FLOOR LAUNDRY
• LARGE YARD
• MATURE TREES

Property features AI

Finance

• Other: Property listed as residential single-family residence; Lot approximately 0.29 acre; Below-grade finished area present

Exterior

• Parking: Attached garage and driveway; Asphalt parking surface; Approximately 2.5 garage spaces
• Utilities: Electricity connected (circuit breakers); Natural gas connected; Public water; Sanitary sewer connected
• Home design: Single-family house; Two levels; No attached units or common walls
• Construction: Aluminum siding; Block foundation; Built (year per public records)
• Exterior features: Shingle roof

Interior

• Kitchen: Dishwasher; Microwave
• Bedrooms: Bedroom 2 (Upper); Bedroom 3 (Upper); Bedroom 4 (Upper)
• Flooring: Hardwood; Tile; Other
• Bathrooms: 2 full bathrooms and 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Mini-split cooling
• Interior features: Built-in features; Partially finished basement; Wood-burning fireplace in the living room; Ten total rooms
• Laundry & utility: Main level laundry; Washer; Dryer; Water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-97 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $183k (8.5% below list).
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $183k (8.5% below list) — sets the bar for cash-flow.
• Cap rate 5.7% vs local median 1.6% in Ottawa Hills — 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 88/100 on livability (#21 in OH, #197 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: commute D+, amenities F.
• Ottawa Hills Local (suburban): math 82% / reading 91% proficiency, ranked #5 of 656 in OH (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 11% free/reduced lunch — higher-income household profile.
• Zoned schools: Ottawa Hills Elementary School (math 84% / reading 90%, grade A+, #44 of 1,584 statewide, top 3%, 560 students, 0% FRL); Ottawa Hills High School (math 79% / reading 91%, grade A, #10 of 781 statewide, top 1%, 517 students, 0% FRL).
• Market conditions: Rents rising (+2.3%/yr); 93 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• This rent runs 36% of the median local income ($67k/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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $182,947 (8.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.01% ✓
• Cap rate: 5.71%
• Cash-on-cash: -2.07%
• DSCR: 0.91
• GRM: 8.2

CMA / ARV

• ARV (median comp): $343,939
• List price: $200,000
• Delta: -41.85%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2523 Orchard Rd	0.32mi	4/3.0	2,228 (-1%)	1mo	$339,000	$152	81
4104 Brookside Rd	0.47mi	4/2.5	2,123 (-5%)	1mo	$397,000	$187	69
2445 Orchard Rd	0.33mi	4/3.5	2,138 (-5%)	5mo	$361,000	$169	69
3409 Brantford Rd	0.40mi	4/2.5	2,438 (+9%)	1mo	$405,000	$166	66
3447 Brantford Rd	0.34mi	4/2.5	1,994 (-11%)	2mo	$325,000	$163	65
2647 Pemberton Dr	0.61mi	4/3.0	2,250 (+0%)	5mo	$290,000	$129	65
3324 Darlington Rd	0.40mi	4/3.5	2,453 (+10%)	1mo	$359,900	$147	61
2203 Innisbrook Rd	0.66mi	3/2.5 (-1)	2,310 (+3%)	2mo	$424,900	$184	57
3313 Kirkwall Rd	0.43mi	3/3.0 (-1)	2,015 (-10%)	1mo	$340,000	$169	55
2222 Talmadge Rd	0.73mi	4/2.5	2,140 (-4%)	6mo	$276,000	$129	54
3024 Hopewell Pl	0.75mi	5/4.0 (+1)	2,312 (+3%)	2mo	$315,000	$136	47
2909 Manchester Blvd	0.45mi	3/2.0 (-1)	1,954 (-13%)	5mo	$285,000	$146	46

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 · 2.29% rent growth · sell at horizon

5-year hold

• IRR: -20.6%
• Equity multiple: 0.29×
• Total profit: $-39,769
• Equity at exit: $29,821

10-year hold

• IRR: -15.5%
• Equity multiple: 0.15×
• Total profit: $-47,445
• Equity at exit: $17,292

Cash invested: $56,000 (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 43606

• Home prices YoY: -15.5%
• Rents YoY: 2.3%
• Active inventory: 93
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,020 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$560 /mo · $6,724/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $-97

Break-even live

Break-even rent $2,142

Max offer price $182,947

Occupancy floor 100%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3835 Hillandale Rd Ottawa Hills, OH	3.0	3.0	2845	$2,800	$0.98	23d	1	0.67mi
2645 Drummond Rd Toledo, OH	5.0	2.0	2007	$1,900	$0.95	44d	1	0.86mi
3121 Cheltenham Rd Toledo, OH	4.0	2.0	1691	$1,800	$1.06	44d	1	1.14mi

Listing history 1 events

1. 2026-05-14
   listed $200,000 Active 544-char remark

ⓘ 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: $6,724 · $560/mo
• Projected year-2 tax: $6,724 · $560/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: $24,243
• − Mortgage interest: −$11,203
• − Property taxes: −$6,724
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,939
• − Management: −$1,939
• − Depreciation: −$5,818
• Taxable loss: −$4,382
• Est. tax savings @ 24.0%: +$1,052
• After-tax cash flow: $-107/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: Ottawa Hills Local
• NCES district ID: 3904821
• Math proficiency: 82% ▼ -9.00%
• Reading proficiency: 91% ▼ -1.00%
• Median HH income: $109,815
• Composite: 78.73/100
• National rank: #70
• State rank: #5 of 656 in OH

Livability — Ottawa Hills

• Score: 88/100
• State rank: #21
• US rank: #197

Category grades

Amenities F Commute D+ Cost of living C Crime A+ Employment A+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ottawa Hills, OH
• County: Lucas County · 380,724 people
• Metro: Toledo, OH
• Population (ZIP): 24,898
• Household income: $66,917
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 843.0

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: White 59% Black 29% Two or more races 7% Hispanic / Latino 4% Asian 3%
• Common ancestry: Romanian 6% Italian 2% Lithuanian 1%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 92% English-only · Arabic 2% Other Indo-European 2% Spanish 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: ▼ -41.19%
• Current HPI: 224.695
• Rent YoY: ▲ 2.29%
• 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

+0.0% since first listed

3 events — show timeline

• 2026-06-05 Sold (MLS) $200,000 NORIS
• 2026-05-20 Pending — NORIS
• 2026-05-14 Listed $200,000 NORIS

Property tax history

+2.1%/yr

Latest (2025): $6,724 · +2.5% YoY. Source: county tax records.