3765 W Alexis Rd · Toledo, OH 43623

$109,900

3 bd · 1.5 ba · 1,254 sqft · Townhouse · 164 Days on market

Built 1973 Fair condition $88/sqft · 37% below area Est $175k · 37% under $238/mo HOA · 17% of rent

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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 +18.1/30.0
• ARV discount +15.0/15.0
• 1% rule +7.6/10.0
• DSCR +5.7/10.0
• Schools +4.3/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HANDY LOCATION. FRESHLY PAINTED TOWNHOUSE CONDO. PATIO OFF FAMILY ROOM, FINISHED REC ROOM AND WORKSHOP IN BASEMENT. 3 BEDROOMS ARE LOCATED UPSTAIRS.

Key facts

• $238 HOA
• Parking
• Built 1973

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $110k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $96 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.

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.
• Washington Local (urban): math 37% / reading 47% proficiency, ranked #528 of 656 in OH (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mcgregor Elementary School (math 45% / reading 54%, grade D, #906 of 1,584 statewide, top 59%, 421 students, 56% FRL); Whitmer High School (math 38% / reading 48%, grade F, #494 of 781 statewide, top 63%, 2,247 students, 42% FRL) — zoned schools at 49% FRL track the district average.
• Market conditions: 124 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 110d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 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.

Negotiation context

• It's been on market 164 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 21y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $74k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $96,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 164 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.26% ✓
• Cap rate: 7.34%
• Cash-on-cash: 3.74%
• DSCR: 1.17
• GRM: 6.6

CMA / ARV

• ARV (median comp): $175,000
• List price: $109,900
• Delta: -37.20%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3753 W Alexis Rd	0.01mi	3/1.5	1,254 (0%)	7mo	$127,000	$101	93
3773 W Alexis Rd #3773	0.03mi	3/1.5	1,197 (-4%)	22mo	$119,000	$99	73
3757 W Alexis Rd #3757	0.01mi	2/1.5 (-1)	1,197 (-4%)	22mo	$113,500	$95	69
5512 Cameron Cove Ct #18	0.57mi	2/2.0 (-1)	1,303 (+4%)	4mo	$175,000	$134	56
4220 Oak Tree Pl	0.71mi	2/2.0 (-1)	1,230 (-2%)	3mo	$175,000	$142	54
5530 Cameron Ln #13	0.56mi	2/2.0 (-1)	1,303 (+4%)	24mo	$187,000	$144	40

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: -10.3%
• Equity multiple: 0.63×
• Total profit: $-11,535
• Equity at exit: $16,386

10-year hold

• IRR: -0.7%
• Equity multiple: 0.95×
• Total profit: $-1,502
• Equity at exit: $9,502

Cash invested: $30,772 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 1 active · 1 under contract
• Months of supply: 3.0 mo (33%/mo absorbed)
• Median asking: $119,900 ($100/sqft)
• Median days on market: 15 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +39.3% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 43623

• Home prices YoY: -19.8%
• Active inventory: 124
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,384 high
• Mortgage (P&I): −$576
• Tax est. 1.5%: −$137 /mo · $1,648/yr
• Insurance: −$46
• HOA: −$238
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $96

Break-even live

Break-even rent $1,263

Max offer price $109,900

Occupancy floor 88%

Sensitivity live

Price	-10% $172	-5% $134	+0% $96	+5% $58	+10% $20
Rent	-10% $-13	-5% $41	+0% $96	+5% $151	+10% $205
Rate	-1.0pp $151	-0.5pp $124	base $96	+0.5pp $67	+1.0pp $38

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: $27,475
• Closing costs: $3,297
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5930 Acoma Dr Toledo, OH	3.0	1.0	1257	$1,450	$1.15	0d	1	0.38mi
6022 Clover Ln Toledo, OH	3.0	2.0	1296	$1,750	$1.35	116d	1	0.40mi
5831 Gany Mede Dr Toledo, OH	3.0	1.0	1004	$1,600	$1.59	109d	1	0.54mi
3907 Donegal Dr Toledo, OH	4.0	2.0	1152	$1,295	$1.12	119d	1	0.62mi
6047 Whiteford Center Rd Apt 4 Toledo, OH	2.0	2.0	1000	$1,200	$1.20	0d	1	0.63mi
5360 Secor Rd Unit 316 Toledo, OH	2.0	1.0	900	$699	$0.78	119d	1	0.81mi
3145 Brock Dr Toledo, OH	3.0	2.0	1100	$1,600	$1.45	109d	1	0.92mi
3065 Tremainsville Rd Toledo, OH	1.0–2.0	1.0	800	$929	$1.16	0d	1	0.92mi
6595 Whiteford Center Rd Unit A+B Lambertville, MI	2.0	1.0	900	$1,350	$1.50	0d	1	1.05mi
4842 Larkhaven Dr Toledo, OH	3.0	3.0	1594	$2,400	$1.51	119d	1	1.30mi
4668 Talmadge Rd Toledo, OH	1.0–2.0	1.0	820	$1,079	$1.32	0d	1	1.39mi

Property features AI

Finance

• HOA & community: Association with monthly fee of $238Association covers trash, water, snow removal, and exterior hazard insuranceAssociation amenities: Other

Exterior

• Parking: 1 parking spaceAdditional parking on concrete
• Security: Other security features
• Utilities: Public waterPublic sewer200+ amp electric serviceCable availableFiber and internet/WiFi available and connectedNatural gas available and connected
• Home design: Residential condominiumAttached townhouse with one common wallTwo levels (2 stories)
• Construction: Aluminum siding, brick and steel siding exteriorCombination foundationBelow-grade finished area present
• Exterior features: Other exterior featuresOther patio/porch featuresAsphalt shingle roof

Interior

• Kitchen: Electric rangeDishwasherMicrowaveDisposal
• Bedrooms: Bedroom on upper level (15 x 11)Bedroom 2 on upper level (9 x 10)Bedroom 3 on upper level (10 x 11)
• Flooring: Other
• Bathrooms: 1 full bathroom1 half bathroom (1.5 total)
• Heating & cooling: Forced air heating (natural gas)Central air conditioning
• Interior features: StorageDouble pane and insulated windowsPartially finished basement (block foundation)
• Laundry & utility: Washer and dryer (dryer listed)Laundry in basementWater heater

Listing history 50 events

1. 2026-09-23
   days on market $109,900 Active 164 DOM
2. 2026-09-22
   days on market $109,900 Active 163 DOM
3. 2026-09-21
   days on market $109,900 Active 162 DOM
4. 2026-09-20
   days on market $109,900 Active 161 DOM
5. 2026-09-19
   days on market $109,900 Active 160 DOM
6. 2026-09-18
   days on market $109,900 Active 159 DOM
7. 2026-09-17
   days on market $109,900 Active 158 DOM
8. 2026-09-16
   days on market $109,900 Active 157 DOM
9. 2026-09-15
   days on market $109,900 Active 156 DOM
10. 2026-09-14
    days on market $109,900 Active 155 DOM
11. 2026-09-13
    days on market $109,900 Active 154 DOM
12. 2026-09-12
    days on market $109,900 Active 153 DOM
13. 2026-09-11
    days on market $109,900 Active 152 DOM
14. 2026-09-05
    days on market $109,900 Active 146 DOM
15. 2026-09-04
    days on market $109,900 Active 145 DOM
16. 2026-09-03
    days on market $109,900 Active 144 DOM
17. 2026-08-31
    days on market $109,900 Active 141 DOM
18. 2026-08-30
    days on market $109,900 Active 140 DOM
19. 2026-08-29
    days on market $109,900 Active 139 DOM
20. 2026-08-28
    days on market $109,900 Active 138 DOM
21. 2026-08-27
    days on market $109,900 Active 137 DOM
22. 2026-08-25
    days on market $109,900 Active 135 DOM
23. 2026-08-24
    days on market $109,900 Active 134 DOM
24. 2026-08-23
    days on market $109,900 Active 133 DOM
25. 2026-08-22
    days on market $109,900 Active 132 DOM
26. 2026-08-21
    days on market $109,900 Active 131 DOM
27. 2026-08-20
    days on market $109,900 Active 130 DOM
28. 2026-08-19
    days on market $109,900 Active 129 DOM
29. 2026-08-18
    days on market $109,900 Active 128 DOM
30. 2026-08-17
    days on market $109,900 Active 127 DOM
31. 2026-08-16
    days on market $109,900 Active 126 DOM
32. 2026-08-15
    days on market $109,900 Active 125 DOM
33. 2026-08-14
    days on market $109,900 Active 124 DOM
34. 2026-08-13
    days on market $109,900 Active 123 DOM
35. 2026-08-12
    days on market $109,900 Active 122 DOM
36. 2026-08-11
    days on market $109,900 Active 121 DOM
37. 2026-08-10
    days on market $109,900 Active 120 DOM
38. 2026-08-09
    days on market $109,900 Active 119 DOM
39. 2026-08-08
    days on market $109,900 Active 118 DOM
40. 2026-08-07
    days on market $109,900 Active 117 DOM
41. 2026-08-06
    days on market $109,900 Active 116 DOM
42. 2026-08-05
    days on market $109,900 Active 115 DOM
43. 2026-08-04
    days on market $109,900 Active 114 DOM
44. 2026-08-03
    days on market $109,900 Active 113 DOM
45. 2026-07-31
    days on market $109,900 Active 110 DOM
46. 2026-07-30
    days on market $109,900 Active 109 DOM
47. 2026-07-29
    days on market $109,900 Active 108 DOM
48. 2026-07-27
    days on market $109,900 Active 106 DOM
49. 2026-07-25
    statusdays on market $109,900 Active 104 DOM
50. 2026-07-24
    days on market $109,900 Contingent 103 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,608
• − Mortgage interest: −$6,156
• − Property taxes: −$1,648
• − Insurance: −$550
• − Repairs & maintenance: −$1,329
• − Management: −$1,329
• − HOA: −$2,856
• − Depreciation: −$3,197
• Taxable loss: −$456
• Est. tax savings @ 24.0%: +$110
• After-tax cash flow: $1,260/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab Est. rehab $31,350–$56,430 screening

This townhouse condo requires moderate repairs and maintenance to improve its condition and value. Key areas for improvement include exterior siding, interior paint, kitchen cabinets, and flooring. Upgrades in these areas would significantly enhance its resale and rental potential.

Repairs flagged

• Moderate exterior siding — Weathered brick siding
• Moderate interior paint — Slightly faded paint
• Moderate kitchen cabinets — Dated appearance
• Moderate bathroom fixtures — Dated appearance
• Moderate flooring — Worn appearance

Value-add opportunities

• Resale Paint touch-ups and cabinet refinishing — Enhances curb appeal and interior aesthetics ↑
• Rental Floor refinishing — Improves living space and reduces wear ↑
• Resale Bathroom fixture replacement — Modernizes the space and improves functionality ↑
• Both Landscaping — Enhances curb appeal and adds value to the property ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 43/100

Zoned Schools

Elementary Mcgregor Elementary School D OH #906/1,584 Nat'l #12,785/41,679 Middle Washington Junior High School F OH #535/654 Nat'l #6,830/14,009 High Whitmer High School F OH #494/781 Nat'l #7,439/17,239

Schools (NCES district)

• District: Washington Local
• NCES district ID: 3904823
• Math proficiency: 37% ▼ -20.00%
• Reading proficiency: 47% ▼ -11.00%
• Median HH income: $42,105
• Composite: 35.36/100
• National rank: #4957
• State rank: #528 of 656 in OH

C Composite livability gradescore 66/100

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 · 420,751 people
• City population: 280,811
• Metro: Toledo, OH
• Population (ZIP): 20,267
• Household income: $71,171
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 11% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 8% Two or more races 7% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Romanian 11% Lithuanian 5% Slovak 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 90% English-only · Arabic 4% Spanish 2% Other Indo-European 1%

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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: ▼ -51.92%
• Current HPI: 209.8555
• Rent YoY: —
• Metro: Toledo, OH
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

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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

Property features AI

Finance

• HOA & community: Association with monthly fee of $238Association covers trash, water, snow removal, and exterior hazard insuranceAssociation amenities: Other

Exterior

• Parking: 1 parking spaceAdditional parking on concrete
• Security: Other security features
• Utilities: Public waterPublic sewer200+ amp electric serviceCable availableFiber and internet/WiFi available and connectedNatural gas available and connected
• Home design: Residential condominiumAttached townhouse with one common wallTwo levels (2 stories)
• Construction: Aluminum siding, brick and steel siding exteriorCombination foundationBelow-grade finished area present
• Exterior features: Other exterior featuresOther patio/porch featuresAsphalt shingle roof

Interior

• Kitchen: Electric rangeDishwasherMicrowaveDisposal
• Bedrooms: Bedroom on upper level (15 x 11)Bedroom 2 on upper level (9 x 10)Bedroom 3 on upper level (10 x 11)
• Flooring: Other
• Bathrooms: 1 full bathroom1 half bathroom (1.5 total)
• Heating & cooling: Forced air heating (natural gas)Central air conditioning
• Interior features: StorageDouble pane and insulated windowsPartially finished basement (block foundation)
• Laundry & utility: Washer and dryer (dryer listed)Laundry in basementWater heater

Price history

+48.9% since first listed

23 events — show timeline

• 2026-07-02 Contingent — NORIS
• 2026-06-23 Price Changed $109,900 NORIS
• 2026-05-26 Relisted — NORIS
• 2026-05-20 Pending — NORIS
• 2026-04-30 Contingent — NORIS
• 2026-04-06 Listed $119,900 NORIS
• 2026-04-03 Coming Soon $119,900 NORIS
• 2025-10-14 Price Changed $73,500 NORIS
• 2016-12-08 Listing Removed — NORIS
• 2016-06-08 Listed $69,900 NORIS
• 2015-10-02 Listing Removed — NORIS
• 2014-09-26 Listed $68,500 NORIS
• 2014-01-07 Listing Removed — NORIS
• 2013-07-09 Listed $67,900 NORIS
• 2013-06-30 Listing Removed — NORIS
• 2012-05-05 Listed $67,900 NORIS
• 2010-08-18 Listing Removed — NORIS
• 2010-07-09 Listed $74,900 NORIS
• 2008-08-16 Listing Removed — NORIS
• 2007-11-16 Listed $79,900 NORIS
• 2005-03-30 Sold (MLS) $73,500 NORIS
• 2005-03-30 Price Changed $73,800 NORIS
• 2005-01-27 Listed $73,800 NORIS