615 Prouty Ave · Toledo, OH 43609

$49,000

3 bd · 2.0 ba · 1,119 sqft · SingleFamily public records · 35 Days on market

Built 1905 3,400 sqft lot $44/sqft · 12% above area Est $44k · 12% over

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.4/10.0
• Rent growth +4.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• ARV discount +2.1/15.0
• Schools +1.6/10.0

Listing remarks MLS

A Solid 3 bed 1 bath home in south Toledo. Needs updates. Would make a great first home for a new family, or a solid Investment property. Being sold "As Is."

Key facts

• Full basement
• Detached garage
• 3,400 sq ft lot

Tags

• FULL BASEMENT
• DETACHED GARAGE
• STRONG RENTAL POTENTIAL
• SPACIOUS LIVING AREAS
• SOLID CASH-FLOW OPPORTUNITY

Property features AI

Finance

• Other: Lot about 0.08 acre; Living area reported as 1,119; Full basement

Exterior

• Parking: Detached garage (1 car); Total parking for 1 vehicle
• Utilities: Electricity available (circuit breakers); Natural gas available; Public water; Sanitary sewer
• Home design: Single-family residence; One and one-half levels; No shared/common walls; Residential property
• Construction: Aluminum siding; Other foundation details
• Exterior features: Shingle roof

Interior

• Kitchen: Kitchen on main level (13 x 10)
• Bedrooms: Bedroom 2 on upper level (12 x 9); Bedroom 3 on upper level (12 x 8); One additional upper-level room (10 x 12)
• Flooring: Vinyl flooring
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Six total rooms; Other interior features
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $393 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($954 rent vs $49k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.9% 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: Marshall Stemm Academy (math 2% / reading 8%, grade F, #1,554 of 1,584 statewide, top 100%, 374 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); 100 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $706 of equity ($339 loan paydown + $367 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 24y 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.
• Current owner paid $18k; list at $49k implies a 180% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $47,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.95% ✓
• Cap rate: 15.91%
• Cash-on-cash: 34.36%
• DSCR: 2.53
• GRM: 4.3

CMA / ARV

• ARV (median comp): $43,719
• List price: $49,000
• Delta: 12.08%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
511 Congress St	0.15mi	3/1.0	1,109 (-1%)	6mo	$55,000	$50	82
251 Knower St	0.46mi	3/1.0	1,119 (0%)	4mo	$30,000	$27	71
837 Orchard St	0.32mi	3/1.0	1,224 (+9%)	1mo	$19,000	$16	65
517 Knower St	0.26mi	3/1.0	966 (-14%)	1mo	$65,000	$67	60
518 South Ave	0.24mi	3/1.0	1,255 (+12%)	6mo	$64,000	$51	60
204 South Ave	0.53mi	3/1.0	1,204 (+8%)	1mo	$115,000	$96	58
1127 Harding Dr	0.74mi	3/1.0	1,104 (-1%)	4mo	$22,000	$20	56
1057 Harding Dr	0.67mi	3/2.0	1,184 (+6%)	4mo	$98,500	$83	56
717 Segur Ave	0.55mi	2/1.0 (-1)	1,188 (+6%)	2mo	$79,000	$66	53
913 Prouty Ave	0.45mi	4/1.0 (+1)	1,061 (-5%)	11mo	$65,900	$62	52
710 Western Ave	0.42mi	2/1.0 (-1)	1,028 (-8%)	8mo	$72,500	$71	51
267 Leland Ave	0.50mi	2/1.0 (-1)	969 (-13%)	9mo	$87,000	$90	38

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: 41.0%
• Equity multiple: 3.20×
• Total profit: $30,197
• Equity at exit: $16,092

10-year hold

• IRR: 45.7%
• Equity multiple: 7.49×
• Total profit: $88,984
• Equity at exit: $20,901

Cash invested: $13,720 (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: 100
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $954 high
• Mortgage (P&I): −$257
• Tax from tax record: −$83 /mo · $996/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $393

Break-even live

Break-even rent $456

Max offer price $49,000

Occupancy floor 54%

Sensitivity live

Price	-10% $421	-5% $407	+0% $393	+5% $379	+10% $365
Rent	-10% $318	-5% $355	+0% $393	+5% $431	+10% $468
Rate	-1.0pp $418	-0.5pp $405	base $393	+0.5pp $380	+1.0pp $367

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
771 Orchard St Unit 7715 Toledo, OH	2.0	1.0	1086	$645	$0.59	24d	1	0.26mi
827 Colburn St Toledo, OH	2.0	1.0	1092	$750	$0.69	45d	1	0.29mi
837 Colburn St Unit 1 Toledo, OH	2.0	1.0	1178	$700	$0.59	45d	1	0.30mi
837 Colburn St Unit 2 Toledo, OH	2.0	1.0	1158	$695	$0.60	24d	1	0.30mi
244 Knower St Toledo, OH	3.0	1.0	1120	$995	$0.89	15d	1	0.45mi
337 Broadway St Unit 201 Toledo, OH	2.0	1.0	1455	$1,650	$1.13	24d	1	0.99mi
2424 Broadway St Toledo, OH	3.0	1.0	1416	$1,049	$0.74	15d	1	1.00mi
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	45d	1	1.04mi
1418 Colburn St Toledo, OH	3.0	1.0	992	$1,200	$1.21	15d	1	1.10mi
724 Spencer St Toledo, OH	3.0	1.5	1127	$1,100	$0.98	45d	1	1.23mi
532 Carlton St Toledo, OH	3.0	1.0	1130	$1,050	$0.93	45d	1	1.26mi
523 Nicholas St Toledo, OH	3.0	1.0	1290	$1,350	$1.05	15d	1	1.30mi
705 Nicholas St Toledo, OH	2.0	1.0	1037	$900	$0.87	45d	1	1.30mi
2594 Broadway St Toledo, OH	2.0	1.0	1076	$825	$0.77	45d	1	1.34mi
20 Greenwood Ave Toledo, OH	3.0	1.0	1496	$1,150	$0.77	15d	1	1.48mi
950 Oak St Unit 1 Toledo, OH	2.0	1.0	725	$700	$0.97	45d	1	1.50mi

Listing history 37 events

1. 2026-06-18
   status $49,000 Pending 35 DOM
2. 2026-06-17
   days on market $49,000 Contingent 35 DOM
3. 2026-06-16
   days on market $49,000 Contingent 34 DOM
4. 2026-06-15
   days on market $49,000 Contingent 33 DOM
5. 2026-06-14
   days on market $49,000 Contingent 31 DOM
6. 2026-06-10
   days on market $49,000 Contingent 28 DOM
7. 2026-06-09
   days on market $49,000 Contingent 27 DOM
8. 2026-06-08
   days on market $49,000 Contingent 26 DOM
9. 2026-06-07
   days on market $49,000 Contingent 25 DOM
10. 2026-06-05
    days on market $49,000 Contingent 22 DOM
11. 2026-06-03
    days on market $49,000 Contingent 21 DOM
12. 2026-06-02
    days on market $49,000 Contingent 20 DOM
13. 2026-06-01
    days on market $49,000 Contingent 19 DOM
14. 2026-05-31
    days on market $49,000 Contingent 18 DOM
15. 2026-05-30
    days on market $49,000 Contingent 17 DOM
16. 2026-05-18
    historical Contingent 513-char remark
17. 2026-05-13
    listed $49,000 Active 513-char remark
18. 2025-10-13
    price $17,500 167-char remark

    Show marketing remark (190 chars)

    Great investment opportunity! This 3 bedroom, 1 bathroom home could increase in value with your repairs and updates. Sold as-is. Pre approval or verification of funds required with offer.

19. 2025-10-13
    price $4,500

    Show marketing remark (190 chars)

    Great investment opportunity! This 3 bedroom, 1 bathroom home could increase in value with your repairs and updates. Sold as-is. Pre approval or verification of funds required with offer.

20. 2024-01-31
    historical
21. 2023-11-28
    price $59,900
22. 2023-10-23
    listed $69,900 Active
23. 2022-11-10
    soldstatus $17,500 Closed 167-char remark

    Show marketing remark (167 chars)

    A Solid 3 bed 1 bath home in south Toledo. Needs updates. Would make a great first home for a new family, or a solid Investment property. Being sold "As Is."

24. 2022-10-28
    status Pending 167-char remark

    Show marketing remark (167 chars)

    A Solid 3 bed 1 bath home in south Toledo. Needs updates. Would make a great first home for a new family, or a solid Investment property. Being sold "As Is."

25. 2022-10-09
    listed $22,000 Active 167-char remark

    Show marketing remark (167 chars)

    A Solid 3 bed 1 bath home in south Toledo. Needs updates. Would make a great first home for a new family, or a solid Investment property. Being sold "As Is."

26. 2022-09-20
    historical
27. 2022-08-28
    price $23,000
28. 2022-08-23
    price $24,000
29. 2022-08-11
    price $24,900
30. 2022-07-29
    listed $26,500 Active
31. 2010-10-15
    soldstatus $4,500

    Show marketing remark (190 chars)

    Great investment opportunity! This 3 bedroom, 1 bathroom home could increase in value with your repairs and updates. Sold as-is. Pre approval or verification of funds required with offer.

32. 2010-07-27
    listed $6,900

    Show marketing remark (190 chars)

    Great investment opportunity! This 3 bedroom, 1 bathroom home could increase in value with your repairs and updates. Sold as-is. Pre approval or verification of funds required with offer.

33. 2010-01-30
    historical
34. 2009-09-23
    listed $10,000
35. 2003-03-24
    soldstatus $27,500
36. 2003-01-07
    historical
37. 2002-10-07
    listed $34,900

ⓘ 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: $996 · $83/mo
• Projected year-2 tax: $996 · $83/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: $11,442
• − Mortgage interest: −$2,745
• − Property taxes: −$996
• − Insurance: −$245
• − Repairs & maintenance: −$915
• − Management: −$915
• − Depreciation: −$1,425
• Taxable income: $4,200
• Est. tax owed @ 24.0%: −$1,008
• After-tax cash flow: $3,707/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

+40.4% since first listed

24 events — show timeline

• 2026-06-17 Pending — NORIS
• 2026-05-18 Contingent — NORIS
• 2026-05-13 Listed $49,000 NORIS
• 2025-10-13 Price Changed $17,500 NORIS
• 2025-10-13 Price Changed $4,500 NORIS
• 2024-01-31 Listing Removed — NORIS
• 2023-11-28 Price Changed $59,900 NORIS
• 2023-10-23 Listed $69,900 NORIS
• 2022-11-10 Sold (MLS) $17,500 NORIS
• 2022-10-28 Pending — NORIS
• 2022-10-09 Listed $22,000 NORIS
• 2022-09-20 Listing Removed — NORIS
• 2022-08-28 Price Changed $23,000 NORIS
• 2022-08-23 Price Changed $24,000 NORIS
• 2022-08-11 Price Changed $24,900 NORIS
• 2022-07-29 Listed $26,500 NORIS
• 2010-10-15 Sold (MLS) $4,500 NORIS
• 2010-10-04 Price Changed $6,900 NORIS
• 2010-07-27 Listed $6,900 NORIS
• 2010-01-30 Listing Removed — NORIS
• 2009-09-23 Listed $10,000 NORIS
• 2003-03-24 Sold (Public Records) $27,500 Public Records
• 2003-01-07 Listing Removed — NORIS
• 2002-10-07 Listed $34,900 NORIS

Property tax history

+4.2%/yr

Latest (2025): $996 · +0.6% YoY. Source: county tax records.