1251 Norwood Ave · Toledo, OH 43607

$89,900

3 bd · 1.0 ba · 1,193 sqft · SingleFamily public records · 97 Days on market

Built 1907 3,500 sqft lot $75/sqft · 27% above area Est $71k · 27% 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
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Rent growth +4.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor opportunity with immediate cash flow. This well-maintained property is currently generating $1,152 per month in rental income, with the tenant responsible for gas, electric, and water. A great Section 8-ready investment, perfect for adding to your portfolio or for a first-time investor looking to start building rental income. The property has been well taken care of and is ready for its new owner.

Key facts

• 3,500 sq ft lot
• Parking
• Built 1907

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $374 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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-, schools D-, crime 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.
• Market conditions: Rents rising fast (+8.2%/yr); 83 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 74% 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 35% of the median local income ($41k/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 $622 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 + 8.0% rent growth), your $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y 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 $60k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $81,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 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 1907 — 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. 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.
8. 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.
9. 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: 1.34% ✓
• Cap rate: 11.28%
• Cash-on-cash: 17.82%
• DSCR: 1.79
• GRM: 6.2

CMA / ARV

• ARV (median comp): $70,793
• List price: $89,900
• Delta: 26.99%
• 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
1163 W Woodruff Ave	0.34mi	3/1.0	1,193 (0%)	5mo	$48,000	$40	80
1501 Fernwood Ave	0.25mi	3/1.0	1,259 (+6%)	1mo	$60,000	$48	78
1155 W Woodruff Ave	0.34mi	3/1.0	1,205 (+1%)	5mo	$48,000	$40	78
1157 W Woodruff Ave	0.34mi	4/1.0 (+1)	1,200 (+1%)	2mo	$4,000	$3	77
1119 Indiana Ave	0.41mi	3/1.0	1,218 (+2%)	1mo	$50,000	$41	76
1038 Pinewood Ave	0.41mi	3/2.0	1,203 (+1%)	3mo	$89,000	$74	73
1141 Pinewood Ave	0.34mi	4/1.0 (+1)	1,228 (+3%)	4mo	$48,000	$39	70
2026 Hawthorne St	0.48mi	3/1.0	1,142 (-4%)	0mo	$65,000	$57	70
1211 Manila St	0.68mi	3/1.0	1,159 (-3%)	3mo	$45,000	$39	61
2242 Auburn Ave	0.69mi	3/1.0	1,241 (+4%)	3mo	$85,000	$68	58
1428 Freeman St	0.67mi	3/1.0	1,084 (-9%)	2mo	$3,000	$3	52
1422 Tecumseh St	0.74mi	3/1.0	1,298 (+9%)	3mo	$16,700	$13	48

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 14.6%
• Equity multiple: 1.62×
• Total profit: $15,599
• Equity at exit: $13,404

10-year hold

• IRR: 26.7%
• Equity multiple: 3.91×
• Total profit: $73,198
• Equity at exit: $7,773

Cash invested: $25,172 (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 43607

• Home prices YoY: -27.5%
• Rents YoY: 8.2%
• Active inventory: 83
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,206 high
• Mortgage (P&I): −$471
• Tax from tax record: −$70 /mo · $837/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $374

Break-even live

Break-even rent $732

Max offer price $89,900

Occupancy floor 64%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1140 Palmwood Ave Toledo, OH	3.0	1.0	1292	$1,500	$1.16	43d	1	0.21mi
1026 Oakwood Ave Toledo, OH	2.0	1.0	1100	$850	$0.77	43d	1	0.41mi
2117 Clinton St Toledo, OH	3.0	1.0	1256	$1,115	$0.89	43d	1	0.69mi
319 N Detroit Ave Toledo, OH	3.0	1.0	1341	$845	$0.63	43d	1	0.91mi
1785 Tecumseh St Toledo, OH	2.0	1.0	930	$900	$0.97	43d	1	0.94mi
1738 Milburn Ave Toledo, OH	2.0	1.0	1016	$650	$0.64	23d	1	0.96mi
2347 Rosedale Ave Toledo, OH	2.0	1.0	767	$875	$1.14	43d	1	0.96mi
915 Woodstock Ave Toledo, OH	3.0	1.5	1500	$1,100	$0.73	23d	1	0.99mi
1133 Parkside Blvd Toledo, OH	2.0	1.0	960	$850	$0.89	43d	1	1.09mi
2322 Upton Ave Toledo, OH	3.0	1.0	1000	$1,300	$1.30	43d	1	1.09mi
625 Virginia St Toledo, OH	2.0	1.0	1000	$800	$0.80	43d	1	1.15mi
625 Virginia St Toledo, OH	2.0	1.0	1000	$850	$0.85	14d	1	1.15mi
960 W Delaware Ave Toledo, OH	3.0	1.0	1224	$1,050	$0.86	23d	1	1.18mi
1919 Ottawa Dr Unit 7 Toledo, OH	2.0	1.0	900	$800	$0.89	43d	1	1.19mi
2356 Torrey Hill Dr Unit 11 Toledo, OH	2.0	1.0	1050	$800	$0.76	43d	1	1.23mi
409 W Bancroft St Toledo, OH	2.0	1.0	730	$880	$1.21	43d	1	1.28mi
401 W Bancroft St Toledo, OH	4.0	1.0	927	$865	$0.93	23d	1	1.30mi
2037 Alvin St Toledo, OH	3.0	1.0	1260	$1,175	$0.93	43d	1	1.48mi
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	43d	1	1.48mi

Listing history 35 events

1. 2026-06-18
   days on market $89,900 Active 97 DOM
2. 2026-06-17
   days on market $89,900 Active 96 DOM
3. 2026-06-16
   days on market $89,900 Active 95 DOM
4. 2026-06-15
   days on market $89,900 Active 94 DOM
5. 2026-06-14
   days on market $89,900 Active 92 DOM
6. 2026-06-10
   days on market $89,900 Active 89 DOM
7. 2026-06-09
   days on market $89,900 Active 88 DOM
8. 2026-06-08
   days on market $89,900 Active 87 DOM
9. 2026-06-07
   days on market $89,900 Active 86 DOM
10. 2026-06-05
    days on market $89,900 Active 83 DOM
11. 2026-06-03
    days on market $89,900 Active 82 DOM
12. 2026-06-02
    days on market $89,900 Active 81 DOM
13. 2026-06-01
    days on market $89,900 Active 80 DOM
14. 2026-05-31
    days on market $89,900 Active 79 DOM
15. 2026-05-30
    days on market $89,900 Active 78 DOM
16. 2026-03-13
    listed $89,900 Active 409-char remark

    Show marketing remark (409 chars)

    Investor opportunity with immediate cash flow. This well-maintained property is currently generating $1,152 per month in rental income, with the tenant responsible for gas, electric, and water. A great Section 8-ready investment, perfect for adding to your portfolio or for a first-time investor looking to start building rental income. The property has been well taken care of and is ready for its new owner.

17. 2025-10-14
    price $60,000 327-char remark

    Show marketing remark (327 chars)

    3 bed 1 bath home updated. Large yard, front porch and full basement. This could be a great starter home or rental property. Family Room can be converted to 1st floor bedroom. Upstairs bedrooms have walk in closets. Bright kitchen and spacious fenced yard. Cozy front porch. This home has been remodeled and ready for new owner

18. 2023-07-19
    soldstatus $60,000
19. 2023-06-30
    status Pending 327-char remark

    Show marketing remark (327 chars)

    3 bed 1 bath home updated. Large yard, front porch and full basement. This could be a great starter home or rental property. Family Room can be converted to 1st floor bedroom. Upstairs bedrooms have walk in closets. Bright kitchen and spacious fenced yard. Cozy front porch. This home has been remodeled and ready for new owner

20. 2023-06-30
    soldstatus $60,000 Closed 327-char remark

    Show marketing remark (327 chars)

    3 bed 1 bath home updated. Large yard, front porch and full basement. This could be a great starter home or rental property. Family Room can be converted to 1st floor bedroom. Upstairs bedrooms have walk in closets. Bright kitchen and spacious fenced yard. Cozy front porch. This home has been remodeled and ready for new owner

21. 2023-06-20
    historical Contingent 327-char remark

    Show marketing remark (327 chars)

    3 bed 1 bath home updated. Large yard, front porch and full basement. This could be a great starter home or rental property. Family Room can be converted to 1st floor bedroom. Upstairs bedrooms have walk in closets. Bright kitchen and spacious fenced yard. Cozy front porch. This home has been remodeled and ready for new owner

22. 2023-06-12
    status Active 327-char remark

    Show marketing remark (327 chars)

    3 bed 1 bath home updated. Large yard, front porch and full basement. This could be a great starter home or rental property. Family Room can be converted to 1st floor bedroom. Upstairs bedrooms have walk in closets. Bright kitchen and spacious fenced yard. Cozy front porch. This home has been remodeled and ready for new owner

23. 2023-05-30
    historical Contingent 327-char remark

    Show marketing remark (327 chars)

    3 bed 1 bath home updated. Large yard, front porch and full basement. This could be a great starter home or rental property. Family Room can be converted to 1st floor bedroom. Upstairs bedrooms have walk in closets. Bright kitchen and spacious fenced yard. Cozy front porch. This home has been remodeled and ready for new owner

24. 2023-05-15
    status Active 327-char remark

    Show marketing remark (327 chars)

    3 bed 1 bath home updated. Large yard, front porch and full basement. This could be a great starter home or rental property. Family Room can be converted to 1st floor bedroom. Upstairs bedrooms have walk in closets. Bright kitchen and spacious fenced yard. Cozy front porch. This home has been remodeled and ready for new owner

25. 2023-05-08
    historical Contingent 327-char remark

    Show marketing remark (327 chars)

    3 bed 1 bath home updated. Large yard, front porch and full basement. This could be a great starter home or rental property. Family Room can be converted to 1st floor bedroom. Upstairs bedrooms have walk in closets. Bright kitchen and spacious fenced yard. Cozy front porch. This home has been remodeled and ready for new owner

26. 2023-05-05
    status Active 327-char remark

    Show marketing remark (327 chars)

    3 bed 1 bath home updated. Large yard, front porch and full basement. This could be a great starter home or rental property. Family Room can be converted to 1st floor bedroom. Upstairs bedrooms have walk in closets. Bright kitchen and spacious fenced yard. Cozy front porch. This home has been remodeled and ready for new owner

27. 2023-05-04
    price $65,000 327-char remark

    Show marketing remark (327 chars)

    3 bed 1 bath home updated. Large yard, front porch and full basement. This could be a great starter home or rental property. Family Room can be converted to 1st floor bedroom. Upstairs bedrooms have walk in closets. Bright kitchen and spacious fenced yard. Cozy front porch. This home has been remodeled and ready for new owner

28. 2023-04-24
    historical Contingent 327-char remark

    Show marketing remark (327 chars)

    3 bed 1 bath home updated. Large yard, front porch and full basement. This could be a great starter home or rental property. Family Room can be converted to 1st floor bedroom. Upstairs bedrooms have walk in closets. Bright kitchen and spacious fenced yard. Cozy front porch. This home has been remodeled and ready for new owner

29. 2023-03-27
    status Active 327-char remark

    Show marketing remark (327 chars)

    3 bed 1 bath home updated. Large yard, front porch and full basement. This could be a great starter home or rental property. Family Room can be converted to 1st floor bedroom. Upstairs bedrooms have walk in closets. Bright kitchen and spacious fenced yard. Cozy front porch. This home has been remodeled and ready for new owner

30. 2023-03-13
    historical Contingent 327-char remark

    Show marketing remark (327 chars)

    3 bed 1 bath home updated. Large yard, front porch and full basement. This could be a great starter home or rental property. Family Room can be converted to 1st floor bedroom. Upstairs bedrooms have walk in closets. Bright kitchen and spacious fenced yard. Cozy front porch. This home has been remodeled and ready for new owner

31. 2023-03-03
    status Active 327-char remark

    Show marketing remark (327 chars)

    3 bed 1 bath home updated. Large yard, front porch and full basement. This could be a great starter home or rental property. Family Room can be converted to 1st floor bedroom. Upstairs bedrooms have walk in closets. Bright kitchen and spacious fenced yard. Cozy front porch. This home has been remodeled and ready for new owner

32. 2023-02-28
    historical Contingent 327-char remark

    Show marketing remark (327 chars)

    3 bed 1 bath home updated. Large yard, front porch and full basement. This could be a great starter home or rental property. Family Room can be converted to 1st floor bedroom. Upstairs bedrooms have walk in closets. Bright kitchen and spacious fenced yard. Cozy front porch. This home has been remodeled and ready for new owner

33. 2023-02-24
    listed $69,000 Active 327-char remark

    Show marketing remark (327 chars)

    3 bed 1 bath home updated. Large yard, front porch and full basement. This could be a great starter home or rental property. Family Room can be converted to 1st floor bedroom. Upstairs bedrooms have walk in closets. Bright kitchen and spacious fenced yard. Cozy front porch. This home has been remodeled and ready for new owner

34. 2023-02-14
    historical $69,000 327-char remark

    Show marketing remark (327 chars)

    3 bed 1 bath home updated. Large yard, front porch and full basement. This could be a great starter home or rental property. Family Room can be converted to 1st floor bedroom. Upstairs bedrooms have walk in closets. Bright kitchen and spacious fenced yard. Cozy front porch. This home has been remodeled and ready for new owner

35. 1992-03-05
    soldstatus $7,500

ⓘ 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: $837 · $70/mo
• Projected year-2 tax: $1,120 · $93/mo
• Expected delta: +$283/yr (+$24/mo · 33.8%)

ⓘ 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 ≥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: $14,466
• − Mortgage interest: −$5,036
• − Property taxes: −$837
• − Insurance: −$450
• − Repairs & maintenance: −$1,157
• − Management: −$1,157
• − Depreciation: −$2,615
• Taxable income: $3,214
• Est. tax owed @ 24.0%: −$771
• After-tax cash flow: $3,713/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): 19,469
• Household income: $41,335
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 1157.0

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: Black 59% White 27% Two or more races 6% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Other Indo-European 1% Spanish 1% Russian/Polish/Slavic 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: ▼ -66.58%
• Current HPI: 175.2772
• Rent YoY: ▲ 8.19%
• 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

+1098.7% since first listed

20 events — show timeline

• 2026-03-13 Listed $89,900 NORIS
• 2025-10-14 Price Changed $60,000 NORIS
• 2023-07-19 Sold (Public Records) $60,000 Public Records
• 2023-06-30 Pending — NORIS
• 2023-06-30 Sold (MLS) $60,000 NORIS
• 2023-06-20 Contingent — NORIS
• 2023-06-12 Relisted — NORIS
• 2023-05-30 Contingent — NORIS
• 2023-05-15 Relisted — NORIS
• 2023-05-08 Contingent — NORIS
• 2023-05-05 Relisted — NORIS
• 2023-05-04 Price Changed $65,000 NORIS
• 2023-04-24 Contingent — NORIS
• 2023-03-27 Relisted — NORIS
• 2023-03-13 Contingent — NORIS
• 2023-03-03 Relisted — NORIS
• 2023-02-28 Contingent — NORIS
• 2023-02-24 Listed $69,000 NORIS
• 2023-02-14 Coming Soon $69,000 NORIS
• 1992-03-05 Sold (Public Records) $7,500 Public Records

Property tax history

+3.8%/yr

Latest (2025): $837 · +3.4% YoY. Source: county tax records.