2019 South Ave · Toledo, OH 43609

$62,900

3 bd · 1.0 ba · 1,007 sqft · SingleFamily public records · 257 Days on market

Built 1916 Fair condition 3,000 sqft lot $62/sqft · 24% below area Est $83k · 24% under

---

Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 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
• Schools +2.6/10.0
• Condition / age +2.0/5.0

Listing remarks MLS

Great Investment Opportunity or Future Home! This property features low-maintenance vinyl siding and hardwood flooring throughout. The interior offers excellent potential and simply needs cleaning and fresh paint to shine. Ideal for investors or owner-occupants looking to build equity with cosmetic updates. Don't miss this value-packed opportunity!

Key facts

• Hardwood flooring
• 3,000 sq ft lot
• Garage

Tags

• LOW-MAINTENANCE VINYL SIDING
• HARDWOOD FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $63k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $469 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $63k).
• Recommended offer: $55k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.2% vs local median 6.9% 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: Grove Patterson Academy Elementary School (math 47% / reading 66%, grade C+, #761 of 1,584 statewide, top 48%, 403 students, 38% FRL); Bowsher High School (math 23% / reading 45%, grade F, #596 of 781 statewide, top 76%, 1,240 students, 49% FRL) — zoned schools average 44% FRL vs 72% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 45% at this address vs 20% district-wide (+26 pts) — the actual schools serving this property are materially stronger than the Toledo City average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+7.8%/yr); 229 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 29d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 $906 of equity ($435 loan paydown + $471 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 $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 257 days — a 12% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 26y ago; this cycle's ask has dropped $7k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $13k; list at $63k implies a 384% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $55,352 (12.0% below list)

Questions for the listing agent

1. It's been on market 257 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 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 15.24%
• Cash-on-cash: 31.95%
• DSCR: 2.42
• GRM: 4.5

CMA / ARV

• ARV (median comp): $82,981
• List price: $62,900
• Delta: -24.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2033 South Ave	0.02mi	2/1.0 (-1)	982 (-2%)	0mo	$94,500	$96	90
546 Shasta Dr	0.09mi	3/1.0	960 (-5%)	1mo	$58,000	$60	87
2324 Ward St	0.37mi	3/1.5	990 (-2%)	2mo	$159,900	$162	76
1937 Bonfield Dr	0.14mi	3/1.0	912 (-9%)	3mo	$80,000	$88	75
333 Mayberry St	0.23mi	3/1.0	1,110 (+10%)	1mo	$50,000	$45	72
2530 South Ave	0.66mi	3/1.0	1,014 (+1%)	0mo	$89,100	$88	68
648 Woodsdale Ave	0.36mi	3/1.0	1,124 (+12%)	2mo	$78,000	$69	63
816 Geneva Ave	0.54mi	3/2.0	1,056 (+5%)	2mo	$135,000	$128	62
252 Kenmore Ave	0.42mi	2/1.0 (-1)	936 (-7%)	3mo	$54,900	$59	61
606 Colima Dr	0.63mi	3/1.0	1,068 (+6%)	3mo	$64,000	$60	58
1039 Wright Ave	0.74mi	3/1.0	1,097 (+9%)	0mo	$160,000	$146	50
1027 Wright Ave	0.72mi	2/1.0 (-1)	885 (-12%)	1mo	$71,500	$81	40

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: 38.4%
• Equity multiple: 3.06×
• Total profit: $36,206
• Equity at exit: $20,657

10-year hold

• IRR: 43.3%
• Equity multiple: 7.12×
• Total profit: $107,738
• Equity at exit: $26,830

Cash invested: $17,612 (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: 38 active · 44 under contract
• Months of supply: 5.3 mo (19%/mo absorbed)
• Median asking: $87,400 ($81/sqft)
• Median days on market: 66 d
• This list price: 16% of active listings are priced below it
• ARV vs active asking: +1.2% vs current asking $/sqft

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

ZIP-level market 43609

• Home prices YoY: 0.3%
• Rents YoY: 7.8%
• Active inventory: 229
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,166 high
• Mortgage (P&I): −$330
• Tax from tax record: −$96 /mo · $1,157/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $469

Break-even live

Break-even rent $573

Max offer price $62,900

Occupancy floor 55%

Sensitivity live

Price	-10% $504	-5% $487	+0% $469	+5% $451	+10% $433
Rent	-10% $377	-5% $423	+0% $469	+5% $515	+10% $561
Rate	-1.0pp $501	-0.5pp $485	base $469	+0.5pp $453	+1.0pp $436

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: $15,725
• Closing costs: $1,887
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
531 Shasta Dr Toledo, OH	3.0	1.0	1143	$1,175	$1.03	10d	1	0.13mi
256 Decatur St Toledo, OH	3.0	2.0	1364	$1,375	$1.01	2d	1	0.24mi
307 Danberry St Toledo, OH	2.0	1.0	988	$950	$0.96	184d	1	0.28mi
1908 Dunham St Toledo, OH	3.0	1.0	1278	$1,300	$1.02	28d	1	0.31mi
1777 South Ave Toledo, OH	3.0	1.0	962	$1,100	$1.14	10d	1	0.33mi
2314 Airline Ave Toledo, OH	3.0	1.0	1123	$1,478	$1.32	164d	1	0.42mi
747 Toronto Ave Toledo, OH	2.0	1.0	1150	$1,225	$1.07	10d	1	0.51mi
850 Wright Ave Toledo, OH	2.0	1.0	748	$945	$1.26	10d	1	0.52mi
2044 Arlington Ave Toledo, OH	2.0	1.0	800	$825	$1.03	162d	1	0.52mi
748 Geneva Ave Toledo, OH	3.0	1.0	1136	$1,300	$1.14	5d	1	0.53mi
554 Brighton Ave Toledo, OH	3.0	1.0	1070	$1,125	$1.05	7d	1	0.60mi
569 Colima Dr Toledo, OH	3.0	1.0	1253	$1,300	$1.04	164d	1	0.60mi
112 Ralph St Toledo, OH	3.0	1.0	1064	$1,000	$0.94	10d	1	0.60mi
581 Colima Dr Toledo, OH	2.0	1.0	900	$1,100	$1.22	154d	1	0.61mi
553 Brighton Ave Toledo, OH	3.0	1.5	1200	$1,295	$1.08	7d	1	0.63mi
331 Southview Dr Toledo, OH	3.0	1.0	1006	$1,250	$1.24	10d	1	0.65mi
331 Southview Dr Toledo, OH	3.0	1.0	1006	$1,250	$1.24	18d	1	0.65mi
1734 Arlington Ave Toledo, OH	2.0	1.0	700	$800	$1.14	154d	1	0.66mi
619 Durango Dr Toledo, OH	3.0	1.0	1276	$1,350	$1.06	184d	1	0.67mi
560 Durango Dr Unit 2 Toledo, OH	2.0	1.0	925	$895	$0.97	10d	1	0.67mi
180 Eldred Ave Toledo, OH	3.0	1.5	1132	$1,095	$0.97	49d	1	0.70mi
160 Eldred Ave Toledo, OH	2.0	1.0	768	$925	$1.20	49d	1	0.72mi
523 Nicholas St Toledo, OH	3.0	1.0	1290	$1,350	$1.05	154d	1	0.73mi
632 Nicholas St Toledo, OH	3.0	1.0	1119	$1,100	$0.98	7d	1	0.73mi
532 Carlton St Toledo, OH	3.0	1.0	1130	$1,050	$0.93	184d	1	0.76mi
705 Nicholas St Toledo, OH	2.0	1.0	1037	$900	$0.87	184d	1	0.77mi
639 Carlton St Toledo, OH	3.0	1.0	1131	$1,195	$1.06	11d	1	0.81mi
639 Carlton St Toledo, OH	3.0	1.0	1131	$1,195	$1.06	10d	1	0.81mi
754 Spencer St Toledo, OH	3.0	1.0	1183	$955	$0.81	10d	1	0.82mi
724 Spencer St Toledo, OH	3.0	1.5	1127	$1,100	$0.98	184d	1	0.84mi
1453 Prouty Ave Toledo, OH	2.0	1.0	1012	$990	$0.98	50d	1	0.86mi
1441 Prouty Ave Toledo, OH	2.0	1.0	880	$925	$1.05	10d	1	0.88mi
1418 Colburn St Toledo, OH	3.0	1.0	992	$1,200	$1.21	154d	1	0.92mi
1617 Buckingham St Toledo, OH	3.0	1.0	1396	$1,100	$0.79	10d	1	0.98mi
319 N Detroit Ave Toledo, OH	3.0	1.0	1341	$845	$0.63	184d	1	0.99mi
1785 Tecumseh St Toledo, OH	2.0	1.0	930	$900	$0.97	7d	1	0.99mi
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	184d	1	1.04mi
2564 Foraker Ave Toledo, OH	2.0	1.0	897	$875	$0.98	50d	1	1.07mi
628 Waverly Ave Toledo, OH	2.0	1.0	800	$1,600	$2.00	37d	1	1.08mi
1250 Prouty Ave Toledo, OH	2.0	1.0	996	$895	$0.90	10d	1	1.10mi

Listing history 50 events

1. 2026-11-08
   days on market $62,900 Active 257 DOM
2. 2026-11-07
   days on market $62,900 Active 256 DOM
3. 2026-11-06
   days on market $62,900 Active 255 DOM
4. 2026-11-05
   days on market $62,900 Active 254 DOM
5. 2026-11-04
   days on market $62,900 Active 253 DOM
6. 2026-11-02
   days on market $62,900 Active 251 DOM
7. 2026-11-01
   days on market $62,900 Active 250 DOM
8. 2026-10-31
   days on market $62,900 Active 249 DOM
9. 2026-10-30
   days on market $62,900 Active 248 DOM
10. 2026-10-29
    days on market $62,900 Active 247 DOM
11. 2026-10-28
    days on market $62,900 Active 246 DOM
12. 2026-10-27
    days on market $62,900 Active 245 DOM
13. 2026-10-26
    days on market $62,900 Active 244 DOM
14. 2026-10-25
    days on market $62,900 Active 243 DOM
15. 2026-10-24
    days on market $62,900 Active 242 DOM
16. 2026-10-23
    days on market $62,900 Active 241 DOM
17. 2026-10-22
    days on market $62,900 Active 240 DOM
18. 2026-10-21
    days on market $62,900 Active 239 DOM
19. 2026-10-20
    days on market $62,900 Active 238 DOM
20. 2026-10-19
    days on market $62,900 Active 237 DOM
21. 2026-10-18
    days on market $62,900 Active 236 DOM
22. 2026-10-17
    days on market $62,900 Active 235 DOM
23. 2026-10-16
    days on market $62,900 Active 234 DOM
24. 2026-10-15
    days on market $62,900 Active 233 DOM
25. 2026-10-14
    days on market $62,900 Active 232 DOM
26. 2026-10-13
    days on market $62,900 Active 231 DOM
27. 2026-10-12
    days on market $62,900 Active 230 DOM
28. 2026-10-11
    days on market $62,900 Active 229 DOM
29. 2026-10-10
    days on market $62,900 Active 228 DOM
30. 2026-10-09
    days on market $62,900 Active 227 DOM
31. 2026-10-08
    days on market $62,900 Active 226 DOM
32. 2026-10-07
    days on market $62,900 Active 225 DOM
33. 2026-10-06
    days on market $62,900 Active 224 DOM
34. 2026-10-05
    days on market $62,900 Active 223 DOM
35. 2026-10-04
    days on market $62,900 Active 222 DOM
36. 2026-10-03
    days on market $62,900 Active 221 DOM
37. 2026-10-02
    days on market $62,900 Active 220 DOM
38. 2026-10-01
    days on market $62,900 Active 219 DOM
39. 2026-09-30
    days on market $62,900 Active 218 DOM
40. 2026-09-29
    days on market $62,900 Active 217 DOM
41. 2026-09-28
    days on market $62,900 Active 216 DOM
42. 2026-09-27
    days on market $62,900 Active 215 DOM
43. 2026-09-25
    days on market $62,900 Active 213 DOM
44. 2026-09-24
    days on market $62,900 Active 212 DOM
45. 2026-09-23
    days on market $62,900 Active 211 DOM
46. 2026-09-22
    days on market $62,900 Active 210 DOM
47. 2026-09-21
    days on market $62,900 Active 209 DOM
48. 2026-09-20
    days on market $62,900 Active 208 DOM
49. 2026-09-19
    days on market $62,900 Active 207 DOM
50. 2026-09-18
    days on market $62,900 Active 206 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: $1,157 · $96/mo
• Projected year-2 tax: $1,157 · $96/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 ≥101°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: $13,995
• − Mortgage interest: −$3,523
• − Property taxes: −$1,157
• − Insurance: −$314
• − Repairs & maintenance: −$1,120
• − Management: −$1,120
• − Depreciation: −$1,830
• Taxable income: $4,931
• Est. tax owed @ 24.0%: −$1,184
• After-tax cash flow: $4,443/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 · 0 photos

Fair 40/100 Cosmetic rehab Est. rehab $5,035–$15,105 screening

This property presents a great investment opportunity with cosmetic updates needed, including cleaning, painting, and minor repairs.

Repairs flagged

• Minor Kitchen cleaning — The kitchen is cluttered and in need of cleaning.
• Minor Bathroom cleaning — The bathroom is dirty and in need of cleaning.
• Minor Interior wall cleaning and touch-up — The interior walls appear to be in poor condition, with visible signs of wear and tear.

Value-add opportunities

• Both Deep cleaning and staging — Deep cleaning and staging will make the property more appealing to potential buyers and renters. ↑
• Both Paint touch-up and fresh paint — Paint touch-up and fresh paint will improve the appearance of the interior and make the property more attractive. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic 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 26/100

Zoned Schools

Elementary Burroughs Elementary School F OH #1,337/1,584 Nat'l #35,191/41,679 High Bowsher High School F OH #596/781 Nat'l #10,121/17,239

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

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): 21,404
• Household income: $42,313
• Rent vs Own: 55.7% rent · 44.3% own
• Severe rent burden: 10% of renters

---

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%
• 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

+288.9% since first listed

14 events — show timeline

• 2026-02-24 Listed $70,000 NORIS
• 2025-10-14 Price Changed $13,000 NORIS
• 2023-05-31 Listing Removed — NORIS
• 2022-12-02 Listed $55,000 NORIS
• 2007-10-09 Sold (MLS) $13,000 NORIS
• 2007-02-26 Listed $17,000 NORIS
• 2001-11-08 Listing Removed — NORIS
• 2001-05-08 Listed $49,900 NORIS
• 2001-05-02 Listing Removed — NORIS
• 2000-11-02 Listed $47,900 NORIS
• 2000-11-01 Listing Removed — NORIS
• 2000-08-05 Listed $45,500 NORIS
• 1989-02-24 Sold (Public Records) $24,000 Public Records
• 1981-06-25 Sold (Public Records) $18,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $1,157 · +1.0% YoY. Source: county tax records.