5539 Fenwick Dr · Toledo, OH 43623

$99,900

3 bd · 1.0 ba · 1,186 sqft · SingleFamily public records · 49 Days on market

Built 1950 7,900 sqft lot $84/sqft · 42% below area Est $173k · 42% under

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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 +20.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +6.1/10.0
• Schools +3.5/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NEW ROOF MANY UPDATES MUST SEE INSIDE

Key facts

• 7,900 sq ft lot
• 3 parking spots
• Built 1950

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $122 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% 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: 51 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $691 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 49 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y ago; this cycle's ask has dropped $30k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $100k implies a 176% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.11% ✓
• Cap rate: 7.76%
• Cash-on-cash: 5.24%
• DSCR: 1.23
• GRM: 7.5

CMA / ARV

• ARV (median comp): $173,061
• List price: $99,900
• Delta: -42.27%
• 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
5617 Harvest Ln	0.09mi	3/1.0	1,264 (+7%)	2mo	$165,000	$131	84
5319 Lenticel Dr	0.28mi	4/1.5 (+1)	1,224 (+3%)	3mo	$236,000	$193	72
3933 Darewood Dr	0.43mi	3/1.5	1,120 (-6%)	2mo	$194,900	$174	67
5718 Rambo Ln	0.40mi	2/2.0 (-1)	1,152 (-3%)	1mo	$170,000	$148	67
4210 Stock Ave	0.65mi	3/1.5	1,152 (-3%)	1mo	$205,000	$178	62
3420 Coral Ave	0.46mi	3/1.0	1,056 (-11%)	1mo	$193,000	$183	60
5646 Planet Ave	0.49mi	3/2.0	1,298 (+9%)	1mo	$218,900	$169	57
4929 Luann Ave	0.72mi	3/1.0	1,107 (-7%)	1mo	$206,739	$187	55
5505 Chippewa Rd	0.71mi	3/1.0	1,280 (+8%)	1mo	$175,900	$137	53
5925 Murnen Rd	0.63mi	3/1.5	1,310 (+10%)	2mo	$200,000	$153	49
5505 Gay St	0.64mi	3/1.0	1,013 (-15%)	2mo	$175,000	$173	44
5855 Gany Mede Dr	0.66mi	4/2.0 (+1)	1,328 (+12%)	2mo	$201,500	$152	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.1%
• Equity multiple: 0.70×
• Total profit: $-8,358
• Equity at exit: $14,895

10-year hold

• IRR: 1.5%
• Equity multiple: 1.11×
• Total profit: $2,962
• Equity at exit: $8,638

Cash invested: $27,972 (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 43623

• Home prices YoY: -19.8%
• Active inventory: 51
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,111 high
• Mortgage (P&I): −$524
• Tax from tax record: −$190 /mo · $2,279/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $122

Break-even live

Break-even rent $956

Max offer price $99,900

Occupancy floor 84%

Sensitivity live

Price	-10% $179	-5% $150	+0% $122	+5% $94	+10% $65
Rent	-10% $34	-5% $78	+0% $122	+5% $166	+10% $210
Rate	-1.0pp $172	-0.5pp $147	base $122	+0.5pp $96	+1.0pp $70

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3907 Donegal Dr Toledo, OH	4.0	2.0	1152	$1,295	$1.12	25d	1	0.36mi
5240 Oakridge Dr Toledo, OH	2.0	1.0	872	$945	$1.08	16d	1	0.53mi
3355 W Alexis Rd Toledo, OH	2.0	1.0	675	$809	$1.20	16d	3	0.55mi
5635 Secor Rd Toledo, OH	2.0	1.0	800	$858	$1.07	45d	1	0.57mi
5747 Talmadge Rd Toledo, OH	1.0–2.0	1.0	647	$919	$1.42	16d	1	0.61mi
5831 Gany Mede Dr Toledo, OH	3.0	1.0	1004	$1,600	$1.59	16d	1	0.62mi
5360 Secor Rd Unit 316 Toledo, OH	2.0	1.0	900	$699	$0.78	25d	1	0.64mi
6022 Clover Ln Toledo, OH	3.0	2.0	1296	$1,750	$1.35	23d	1	0.67mi
5133 Secor Rd Toledo, OH	2.0	2.0	850	$1,099	$1.29	25d	1	0.69mi
5080 Secor Rd Toledo, OH	1.0–2.0	1.0–1.5	699	$925	$1.32	45d	1	0.81mi
3355 W Laskey Rd Toledo, OH	2.0	1.0	750	$850	$1.13	16d	2	0.83mi
3355 W Laskey Rd Apt 24 Toledo, OH	2.0	1.0	750	$850	$1.13	25d	1	0.83mi
3353 W Laskey Rd Unit 2 Toledo, OH	3.0	1.0	750	$850	$1.13	23d	1	0.85mi
6020 Secor Rd Unit 1 Toledo, OH	2.0	1.5	760	$825	$1.09	23d	1	0.85mi
3065 Tremainsville Rd Toledo, OH	1.0–2.0	1.0	800	$929	$1.16	16d	1	0.86mi
3145 Brock Dr Toledo, OH	3.0	2.0	1100	$1,600	$1.45	16d	1	1.06mi
4668 Talmadge Rd Toledo, OH	1.0–2.0	1.0	820	$1,079	$1.32	16d	1	1.15mi
5360 Monroe St Toledo, OH	1.0–2.0	1.0	729	$900	$1.23	45d	1	1.43mi

Listing history 13 events

1. 2026-05-02
   price $99,900 37-char remark

   Show marketing remark (37 chars)

   NEW ROOF MANY UPDATES MUST SEE INSIDE

2. 2026-04-23
   status Active 37-char remark

   Show marketing remark (37 chars)

   NEW ROOF MANY UPDATES MUST SEE INSIDE

3. 2026-04-16
   status Pending 37-char remark

   Show marketing remark (37 chars)

   NEW ROOF MANY UPDATES MUST SEE INSIDE

4. 2026-04-09
   price $109,900 37-char remark

   Show marketing remark (37 chars)

   NEW ROOF MANY UPDATES MUST SEE INSIDE

5. 2026-03-20
   listed $129,900 Active 37-char remark

   Show marketing remark (37 chars)

   NEW ROOF MANY UPDATES MUST SEE INSIDE

6. 2017-06-30
   historical
7. 2017-02-07
   listed $69,900
8. 2017-02-06
   historical
9. 2016-12-28
   listed $74,900
10. 2001-08-11
    historical
11. 2000-11-19
    listed $64,900
12. 1994-09-06
    soldstatus $36,225
13. 1990-10-22
    soldstatus $26,300

ⓘ 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: $2,279 · $190/mo
• Projected year-2 tax: $2,279 · $190/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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,328
• − Mortgage interest: −$5,596
• − Property taxes: −$2,279
• − Insurance: −$500
• − Repairs & maintenance: −$1,066
• − Management: −$1,066
• − Depreciation: −$2,906
• Taxable loss: −$85
• Est. tax savings @ 24.0%: +$20
• After-tax cash flow: $1,485/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: 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

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): 20,267
• Household income: $71,171
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 617.0

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: 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%

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

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

+279.8% since first listed

13 events — show timeline

• 2026-05-02 Price Changed $99,900 NORIS
• 2026-04-23 Relisted — NORIS
• 2026-04-16 Pending — NORIS
• 2026-04-09 Price Changed $109,900 NORIS
• 2026-03-20 Listed $129,900 NORIS
• 2017-06-30 Listing Removed — NORIS
• 2017-02-07 Listed $69,900 NORIS
• 2017-02-06 Listing Removed — NORIS
• 2016-12-28 Listed $74,900 NORIS
• 2001-08-11 Listing Removed — NORIS
• 2000-11-19 Listed $64,900 NORIS
• 1994-09-06 Sold (Public Records) $36,225 Public Records
• 1990-10-22 Sold (Public Records) $26,300 Public Records

Property tax history

+3.3%/yr

Latest (2025): $2,279 · +1.5% YoY. Source: county tax records.