177 Dexter St · Toledo, OH 43608

$49,900

2 bd · 1.0 ba · 1,090 sqft · SingleFamily public records · 6 Days on market

Built 1887 3,400 sqft lot $46/sqft · 15% above area Est $43k · 15% over

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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).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.6/15.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-bedroom home that has been lovingly cared for by the same family for decades. Full of character and timeless appeal, this home features 1 main-floor bedroom, a full bath, a spacious kitchen, and a walk-in pantry with excellent storage. The kitchen includes floor to ceiling cabinets and space for a dining table. Upstairs offers 2 additional bedrooms plus a versatile bonus room perfect for a nursery, office, or massive closet for fashionistas. The full basement can be great for storage or potentially finished, for even more living space. Enjoy the fenced-in backyard. A few minute walk from Ostrich Towne.

Key facts

• Main-floor bedroom
• Versatile bonus room
• Fenced-in backyard

Tags

• MAIN-FLOOR BEDROOM
• WALK-IN PANTRY
• FLOOR TO CEILING CABINETS
• VERSATILE BONUS ROOM
• FENCED-IN BACKYARD

Property features AI

Exterior

• Parking: Off-street parking with concrete driveway (1 space)
• Utilities: Public water; Public sewer; Electric with circuit breakers; Other utilities
• Home design: Single-family house; One and one-half levels; No attached units; No common walls
• Construction: Aluminum and metal siding; Block foundation
• Exterior features: Private yard; Front porch; Covered porch; Chain link fencing; Shingle roof

Interior

• Kitchen: Dishwasher; Gas cooktop; Refrigerator
• Bedrooms: Upper-level bedroom; Upper-level bedroom
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Boiler heating
• Interior features: Eat-in kitchen; Has full basement (block foundation)
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $405 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($924 rent vs $50k).
• Cap rate 16.0% 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: Spring Elementary School (math 2% / reading 8%, grade F, #1,554 of 1,584 statewide, top 100%, 231 students, 0% FRL); Woodward High School (math 2% / reading 22%, grade F, #726 of 781 statewide, top 94%, 672 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 (+3.9%/yr); 58 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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).
• This rent runs 38% of the median local income ($29k/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 $345 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 + 3.9% rent growth), your $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $20k; list at $50k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1887 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,900

Questions for the listing agent

1. Built in 1887 — 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. 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.
6. 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.
7. 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: 1.85% ✓
• Cap rate: 16.03%
• Cash-on-cash: 34.79%
• DSCR: 2.55
• GRM: 4.5

CMA / ARV

• ARV (median comp): $43,278
• List price: $49,900
• Delta: 15.30%
• 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
235 Bronson Ave	0.11mi	3/2.0 (+1)	1,104 (+1%)	2mo	$48,000	$43	82
125 E Oakland St	0.40mi	2/1.0	1,088 (-0%)	4mo	$18,000	$17	78
3118 Elm St	0.29mi	3/1.0 (+1)	1,140 (+5%)	4mo	$50,000	$44	71
40 E Oakland St	0.41mi	3/1.0 (+1)	1,110 (+2%)	4mo	$53,000	$48	69
150 W Park St	0.49mi	2/1.0	1,124 (+3%)	4mo	$12,000	$11	69
3377 Lagrange St	0.53mi	2/1.0	1,030 (-6%)	4mo	$80,000	$78	63
414 Palmer St	0.39mi	2/1.0	1,239 (+14%)	3mo	$65,000	$52	57
3319 Franklin Ave	0.51mi	2/1.0	958 (-12%)	3mo	$45,000	$47	54
3103 Cottage Ave	0.49mi	3/1.0 (+1)	1,194 (+10%)	4mo	$58,000	$49	53
17 W Pearl St	0.57mi	3/1.0 (+1)	966 (-11%)	2mo	$16,900	$17	48
330 E Lake St	0.56mi	3/2.0 (+1)	1,211 (+11%)	3mo	$72,000	$59	44
312 W Oakland St	0.65mi	3/1.0 (+1)	1,248 (+14%)	2mo	$17,851	$14	39

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 · 3.89% rent growth · sell at horizon

5-year hold

• IRR: 31.3%
• Equity multiple: 2.33×
• Total profit: $18,551
• Equity at exit: $7,440

10-year hold

• IRR: 38.9%
• Equity multiple: 4.78×
• Total profit: $52,871
• Equity at exit: $4,314

Cash invested: $13,972 (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 43608

• Home prices YoY: -21.3%
• Rents YoY: 3.9%
• Active inventory: 58
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $924 high
• Mortgage (P&I): −$262
• Tax from tax record: −$43 /mo · $510/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $405

Break-even live

Break-even rent $411

Max offer price $49,900

Occupancy floor 51%

Sensitivity live

Price	-10% $433	-5% $419	+0% $405	+5% $391	+10% $377
Rent	-10% $332	-5% $369	+0% $405	+5% $442	+10% $478
Rate	-1.0pp $430	-0.5pp $418	base $405	+0.5pp $392	+1.0pp $379

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
227 Everett St Toledo, OH	2.0	1.0	914	$850	$0.93	44d	1	0.10mi
319 Dexter St Toledo, OH	2.0	1.0	990	$1,005	$1.02	44d	1	0.13mi
3010 Warsaw St Toledo, OH	1.0	1.0	806	$525	$0.65	21d	1	0.18mi
329 Mettler St Toledo, OH	2.0	1.0	908	$975	$1.07	14d	1	0.20mi
420 Everett St Toledo, OH	2.0	1.0	1000	$975	$0.97	24d	1	0.25mi
225 Palmer St Toledo, OH	2.0	1.0	924	$895	$0.97	44d	1	0.31mi
2807 Chestnut St Unit 2 Toledo, OH	1.0	1.0	745	$495	$0.66	21d	1	0.32mi
2621 Chestnut St Toledo, OH	3.0	1.0	1444	$1,250	$0.87	44d	1	0.36mi
59 E Hudson St Toledo, OH	3.0	1.0	1368	$1,100	$0.80	44d	1	0.47mi
516 E Hudson St Toledo, OH	3.0	1.0	1204	$1,098	$0.91	14d	1	0.54mi
524 E Hudson St Toledo, OH	2.0	1.0	1050	$825	$0.79	44d	1	0.55mi
524 E Hudson St Toledo, OH	3.0	1.0	1150	$895	$0.78	21d	1	0.55mi
333 E Lake St Toledo, OH	2.0	1.0	800	$495	$0.62	24d	1	0.58mi
424 E Lake St Toledo, OH	3.0	1.0	1228	$1,075	$0.88	14d	1	0.59mi
1337 Moore St Toledo, OH	3.0	1.5	1194	$995	$0.83	21d	1	0.63mi
405 E Manhattan Blvd Toledo, OH	2.0	1.0	1000	$900	$0.90	14d	1	0.68mi
425 Boston Pl Unit A Toledo, OH	2.0	1.0	1200	$895	$0.75	24d	1	0.74mi
710 E Lake St Toledo, OH	3.0	1.0	1242	$1,000	$0.81	14d	1	0.81mi
830 Homer Ave Toledo, OH	3.0	1.0	1208	$895	$0.74	44d	1	0.92mi
610 Cadillac Ct Toledo, OH	3.0	1.0	1409	$1,050	$0.75	24d	1	0.97mi
2907 Rockwood Pl Toledo, OH	3.0	1.0	1494	$1,100	$0.74	14d	1	0.97mi
2131 Franklin Ave Toledo, OH	2.0	2.0	1255	$900	$0.72	44d	1	0.98mi
426 Beacon St Toledo, OH	1.0–2.0	1.0–1.5	809	$882	$1.09	14d	10	1.01mi
409 W Bancroft St Toledo, OH	2.0	1.0	730	$880	$1.21	44d	1	1.14mi
425 W Bancroft St Toledo, OH	1.0	1.0	711	$725	$1.02	44d	1	1.15mi
1031 N Michigan St Toledo, OH	3.0	2.0	1488	$1,195	$0.80	24d	1	1.16mi
3439 Jeannette Ave Toledo, OH	3.0	1.0	1098	$1,095	$1.00	44d	1	1.20mi
3474 Maher St Toledo, OH	2.0	1.0	736	$1,125	$1.53	44d	1	1.21mi
625 Virginia St Toledo, OH	2.0	1.0	1000	$850	$0.85	14d	1	1.21mi
625 Virginia St Toledo, OH	2.0	1.0	1000	$800	$0.80	44d	1	1.21mi
3405 Beaumont Dr Toledo, OH	2.0	1.0	855	$745	$0.87	14d	1	1.26mi
630 Mulberry St Toledo, OH	2.0	1.0	1000	$950	$0.95	24d	1	1.34mi
626 Walnut St Toledo, OH	3.0	1.0	1088	$995	$0.91	44d	1	1.37mi
624 Bush St Toledo, OH	1.0	1.0	1193	$699	$0.59	44d	1	1.40mi
3950 Woodhaven Dr Toledo, OH	2.0	1.0	1072	$745	$0.69	24d	1	1.41mi
332 14th St Unit 303 Toledo, OH	3.0	1.5	1040	$1,000	$0.96	44d	1	1.45mi
322 14th St Apt 203 Toledo, OH	3.0	1.5	1065	$1,000	$0.94	14d	1	1.45mi
4013 Caroline Ave Toledo, OH	1.0	1.0	840	$800	$0.95	21d	1	1.45mi
960 W Delaware Ave Toledo, OH	3.0	1.0	1224	$1,050	$0.86	24d	1	1.47mi
142 23rd St Toledo, OH	1.0	1.0–1.5	508	$1,395	$2.75	44d	1	1.49mi

Listing history 3 events

1. 2026-05-18
   status Pending 620-char remark
2. 2026-05-12
   listed $49,900 Active 620-char remark
3. 1994-01-21
   soldstatus $20,000

ⓘ 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: $510 · $43/mo
• Projected year-2 tax: $644 · $54/mo
• Expected delta: +$134/yr (+$11/mo · 26.3%)

ⓘ 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: $11,090
• − Mortgage interest: −$2,795
• − Property taxes: −$510
• − Insurance: −$250
• − Repairs & maintenance: −$887
• − Management: −$887
• − Depreciation: −$1,452
• Taxable income: $4,309
• Est. tax owed @ 24.0%: −$1,034
• After-tax cash flow: $3,827/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): 13,593
• Household income: $29,275
• Rent vs Own: 44.6% rent · 55.4% own
• Severe rent burden: 911.0

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 0.60)
• Race & ethnicity: Black 57% White 25% Two or more races 9% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Spanish 7%

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: ▼ -37.73%
• Current HPI: 139.4964
• Rent YoY: ▲ 3.89%
• 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

+149.5% since first listed

3 events — show timeline

• 2026-05-18 Pending — NORIS
• 2026-05-12 Listed $49,900 NORIS
• 1994-01-21 Sold (Public Records) $20,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $510 · -0.1% YoY. Source: county tax records.