1605 Norwood Ave · Toledo, OH 43607

$69,000

3 bd · 1.0 ba · 996 sqft · SingleFamily public records · 17 Days on market

Built 1897 7,036 sqft lot

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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
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Scott Park 3 bed 1 bath on fenced double lot. New roof 2022. Newer Furnace and Hot water tank. Fresh carpet and paint throughout. Living room opens up to den/ study with large built-ins. First floor master. Enclosed front porch. Vinyl siding. Refrigerator and stove included. Low Taxes. Turn key, rent ready or nice starter home.

Key facts

• Hot water tank
• Enclosed back porch
• Double corner lot

Tags

• DOUBLE CORNER LOT
• NEW ROOF
• NEWER FURNACE
• HOT WATER TANK
• VINYL SIDING
• ENCLOSED BACK PORCH

Property features AI

Finance

• Other: Property includes additional parcels (347 & 348)

Exterior

• Parking: Alley access; On-street parking
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer
• Home design: Single-family residence (house); One and one-half levels; No attached units or common walls
• Construction: Metal siding and vinyl siding; Shingle roof; Other foundation
• Exterior features: Covered front porch; Rear porch; Partial fencing; City street frontage; Concrete road surface

Interior

• Kitchen: Electric range
• Bedrooms: Bedroom on upper level (approx. 11 x 10)
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Window unit(s) for cooling; Has heating and cooling
• Interior features: Unfinished basement; 7 total rooms; Other interior features
• Laundry & utility: Washer and dryer included; Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $350 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $68k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 7.5% 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: Robinson Elementary School (math 2% / reading 2%, grade F, #1,580 of 1,584 statewide, top 100%, 358 students, 0% FRL); Jesup W. Scott High School (math 8% / reading 17%, grade F, #726 of 781 statewide, top 94%, 736 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.
• Zoned-school proficiency averages 7% at this address vs 20% district-wide (-12 pts) — the specific schools serving this property underperform the Toledo City average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+8.2%/yr); 85 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); 81% 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

• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k 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 $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 2 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 $40k; list at $69k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $67,965 (1.5% below list)

Questions for the listing agent

1. Built in 1897 — 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: 1.54% ✓
• Cap rate: 12.37%
• Cash-on-cash: 21.72%
• DSCR: 1.97
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $39,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1534 Pinewood Ave	0.27mi	3/1.0	1,030 (+3%)	9mo	$74,900	$73	74
1428 W Woodruff Ave	0.37mi	3/1.0	978 (-2%)	14mo	$57,000	$58	68
2026 Hawthorne St	0.38mi	3/1.0	1,142 (+15%)	0mo	$65,000	$57	57
1420 Upton Ave	0.39mi	2/1.0 (-1)	1,074 (+8%)	8mo	$43,000	$40	57
1428 Freeman St	0.66mi	3/1.0	1,084 (+9%)	2mo	$3,000	$3	53
1338 Pinewood Ave	0.34mi	2/1.0 (-1)	900 (-10%)	17mo	$9,000	$10	49
2024 Elliott Ave	0.38mi	3/1.0	1,144 (+15%)	11mo	$23,000	$20	48
2111 Hawthorne St	0.47mi	3/1.0	1,109 (+11%)	18mo	$40,000	$36	44
1654 Macomber St	0.73mi	3/1.0	1,080 (+8%)	10mo	$22,550	$21	44
2040 Dorr St	0.60mi	3/1.0	1,096 (+10%)	16mo	$93,000	$85	42
2215 Academy Ave	0.69mi	3/1.0	1,120 (+12%)	12mo	$65,000	$58	37
1546 Tecumseh St	0.73mi	2/1.0 (-1)	854 (-14%)	14mo	$22,650	$27	26

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: 20.0%
• Equity multiple: 1.87×
• Total profit: $16,725
• Equity at exit: $10,288

10-year hold

• IRR: 31.5%
• Equity multiple: 4.57×
• Total profit: $68,881
• Equity at exit: $5,966

Cash invested: $19,320 (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: 85
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,062 high
• Mortgage (P&I): −$362
• Tax from tax record: −$99 /mo · $1,185/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $350

Break-even live

Break-even rent $619

Max offer price $69,000

Occupancy floor 62%

Sensitivity live

Price	-10% $389	-5% $369	+0% $350	+5% $330	+10% $311
Rent	-10% $266	-5% $308	+0% $350	+5% $392	+10% $434
Rate	-1.0pp $384	-0.5pp $367	base $350	+0.5pp $332	+1.0pp $314

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1026 Oakwood Ave Toledo, OH	2.0	1.0	1100	$850	$0.77	44d	1	0.72mi
1785 Tecumseh St Toledo, OH	2.0	1.0	930	$900	$0.97	44d	1	0.78mi
1133 Parkside Blvd Toledo, OH	2.0	1.0	960	$850	$0.89	44d	1	0.79mi
1738 Milburn Ave Toledo, OH	2.0	1.0	1016	$650	$0.64	24d	1	0.84mi
2347 Rosedale Ave Toledo, OH	2.0	1.0	767	$875	$1.14	44d	1	0.86mi
2322 Upton Ave Toledo, OH	3.0	1.0	1000	$1,300	$1.30	44d	1	0.93mi
1919 Ottawa Dr Unit 7 Toledo, OH	2.0	1.0	900	$800	$0.89	44d	1	1.02mi
2356 Torrey Hill Dr Unit 11 Toledo, OH	2.0	1.0	1050	$800	$0.76	44d	1	1.04mi
2030 Wyndhurst Rd Toledo, OH	2.0	1.0	1042	$950	$0.91	44d	1	1.20mi
2535 W Bancroft St Unit 8 Toledo, OH	2.0	1.0	900	$895	$0.99	44d	1	1.31mi
2637 Greenway St Toledo, OH	2.0	1.0	1082	$900	$0.83	44d	1	1.35mi
625 Virginia St Toledo, OH	2.0	1.0	1000	$850	$0.85	15d	1	1.40mi
625 Virginia St Toledo, OH	2.0	1.0	1000	$800	$0.80	44d	1	1.40mi
2115 Collingwood Blvd Toledo, OH	2.0	1.0	676	$765	$1.13	24d	1	1.41mi
3803 Monroe St Toledo, OH	2.0	1.0	942	$850	$0.90	44d	1	1.42mi
3835 Monroe St Toledo, OH	2.0	1.0	1002	$950	$0.95	44d	1	1.48mi

Listing history 12 events

1. 2026-06-21
   days on market $69,000 Active 17 DOM
2. 2026-06-18
   days on market $69,000 Active 14 DOM
3. 2026-06-17
   days on market $69,000 Active 13 DOM
4. 2026-06-16
   days on market $69,000 Active 12 DOM
5. 2026-06-15
   days on market $69,000 Active 11 DOM
6. 2026-06-14
   days on market $69,000 Active 9 DOM
7. 2026-06-10
   days on market $69,000 Active 6 DOM
8. 2026-06-09
   days on market $69,000 Active 5 DOM
9. 2026-06-08
   days on market $69,000 Active 4 DOM
10. 2026-06-07
    days on market $69,000 Active 3 DOM
11. 2026-06-05
    remarks 230-char remark
12. 2026-06-05
    listed $69,000 Active 1 DOM

ⓘ 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: $1,185 · $99/mo
• Projected year-2 tax: $1,185 · $99/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 3/10 Moderate FEMA zone X (unshaded) · 10% 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: $12,744
• − Mortgage interest: −$3,865
• − Property taxes: −$1,185
• − Insurance: −$345
• − Repairs & maintenance: −$1,020
• − Management: −$1,020
• − Depreciation: −$2,007
• Taxable income: $3,303
• Est. tax owed @ 24.0%: −$793
• After-tax cash flow: $3,403/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

+53.7% since first listed

6 events — show timeline

• 2026-06-04 Listed $69,000 NORIS
• 2025-10-14 Price Changed $39,500 NORIS
• 2023-05-01 Sold (MLS) $39,500 NORIS
• 2023-04-26 Pending — NORIS
• 2023-04-15 Contingent — NORIS
• 2023-04-11 Listed $44,900 NORIS

Property tax history

+10.0%/yr

Latest (2025): $1,185 · +3.5% YoY. Source: county tax records.