1668 Brownstone Blvd Apt 613 · Toledo, OH 43614

$70,000

2 bd · 1.5 ba · 1,208 sqft · Condo public records · 20 Days on market

Built 1974 $58/sqft · 42% below area Est $121k · 42% under $222/mo HOA · 20% of rent

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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 +25.3/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +8.3/10.0
• 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

Cute South Toledo 2 bed 1.5 bath condo. Unit features LR, DR, kitchen with pantry, large master with walk through closet and full bath access. Unit also features half bath with w/ d hook-ups. Currently rented for $840/mo on lease through March 2026.

Key facts

• Walk through closet
• Full bath access
• Kitchen with pantry

Tags

• KITCHEN WITH PANTRY
• WALK THROUGH CLOSET
• FULL BATH ACCESS
• HALF BATH WITH W D HOOK UPS

Property features AI

Finance

• HOA & community: Association with monthly fee of $222.45

Exterior

• Parking: 2 parking spaces; Asphalt / paved parking
• Utilities: Electricity connected (circuit breakers); Natural gas connected; Public water; Public sewer
• Home design: Residential condominium; Attached unit with one common wall; One-story / single level; Living area reported
• Construction: Stucco construction; Block foundation
• Exterior features: Shingle roof

Interior

• Kitchen: Kitchen on main level (8 x 8)
• Bedrooms: Bedroom on main level (10 x 10)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom (1.5 total)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Walk-in closet(s); 5 total rooms
• Laundry & utility: In-unit laundry

🏷️ Possibly a rental listed for sale. The $70,000 price doesn't fit this home's estimated sale value (~$121,280) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $70k.

Deal economics

• At list price, monthly cash flow is $159 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $69k (1.5% 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.
• 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: Glendale-Feilbach Elementary School (math 7% / reading 15%, grade F, #1,459 of 1,584 statewide, top 92%, 353 students, 0% FRL); Bowsher High School (math 23% / reading 45%, grade F, #596 of 781 statewide, top 76%, 1,240 students, 49% FRL) — zoned schools average 25% FRL vs 72% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+8.0%/yr); 71 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $484 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 $20k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y 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 $30k; list at $70k implies a 133% gain — meaningful room to come down on a strong offer.

Recommended offer $68,950 (1.5% below list)

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.60% ✓
• Cap rate: 9.02%
• Cash-on-cash: 9.74%
• DSCR: 1.43
• GRM: 5.2

CMA / ARV

• ARV (median comp): $121,280
• List price: $70,000
• Delta: -42.78%
• Verdict: UNDERPRICED
• Comps: 20 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 5.9%
• Equity multiple: 1.25×
• Total profit: $4,860
• Equity at exit: $10,437

10-year hold

• IRR: 20.5%
• Equity multiple: 3.29×
• Total profit: $44,832
• Equity at exit: $6,052

Cash invested: $19,600 (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 43614

• Home prices YoY: -22.4%
• Rents YoY: 8.0%
• Active inventory: 71
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,118 high
• Mortgage (P&I): −$367
• Tax from tax record: −$106 /mo · $1,268/yr
• Insurance: −$29
• HOA: −$222
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $159

Break-even live

Break-even rent $916

Max offer price $70,000

Occupancy floor 81%

Sensitivity live

Price	-10% $199	-5% $179	+0% $159	+5% $139	+10% $119
Rent	-10% $71	-5% $115	+0% $159	+5% $203	+10% $247
Rate	-1.0pp $194	-0.5pp $177	base $159	+0.5pp $141	+1.0pp $122

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1801 Brownstone Blvd Toledo, OH	1.0–2.0	1.0–1.5	1054	$1,199	$1.14	22d	1	0.11mi
1812 Glen Valley Dr Toledo, OH	1.0–3.0	1.0–1.5	845	$935	$1.11	44d	1	0.48mi
5123 Ryan Rd Toledo, OH	1.0–2.0	1.0–2.0	830	$999	$1.20	22d	1	0.56mi
2223 Foxbourne Rd Toledo, OH	2.0	1.0	887	$885	$1.00	22d	2	0.68mi
5359 Cresthaven Ln Apt 5 Toledo, OH	1.0	1.0	715	$675	$0.94	44d	1	0.74mi
5713 Tibaron Ln #112 Toledo, OH	2.0	1.5	946	$1,175	$1.24	24d	1	0.74mi
5727 Tibaron Ln Toledo, OH	1.0–2.0	1.0–2.0	738	$1,195	$1.62	24d	1	0.77mi
2342 Old Stone Ct Toledo, OH	1.0–2.0	1.0–2.0	881	$995	$1.13	15d	1	0.82mi
1163 Bernath Unit 1163 Toledo, OH	2.0	1.5	1200	$1,185	$0.99	24d	1	0.85mi
1220 Four Seasons Dr Toledo, OH	2.0	2.0	1000	$1,145	$1.15	24d	1	0.86mi
2425 Cheyenne Blvd Toledo, OH	2.0–3.0	1.0–2.0	1055	$1,029	$0.98	8d	1	0.92mi
5427 Glenridge Dr Unit 5433 Toledo, OH	2.0	1.5	1200	$1,249	$1.04	44d	1	0.95mi
5420 Heatherdowns Blvd Toledo, OH	1.0–2.0	1.0–2.0	1050	$1,295	$1.23	13d	1	0.98mi
5526 Heatherdowns Blvd #8 Toledo, OH	2.0	1.5	1115	$950	$0.85	15d	1	1.01mi
5926 Walnut Cir Unit C12 Toledo, OH	2.0	1.5	1330	$1,395	$1.05	24d	1	1.02mi
5534 Heatherdowns Blvd Unit 5540 Toledo, OH	2.0	1.0	1000	$850	$0.85	24d	1	1.02mi
5943 Walnut Cir Dr Toledo, OH	1.0–2.0	1.0–1.5	1000	$1,395	$1.40	22d	3	1.08mi
4835 Heatherdowns Blvd Toledo, OH	1.0–2.0	1.0–1.5	845	$965	$1.14	15d	1	1.16mi
5648 Ryewyck Dr Toledo, OH	2.0	1.0	1000	$1,000	$1.00	13d	1	1.20mi
5623 Ryewyck Dr Toledo, OH	2.0	1.0	1160	$999	$0.86	44d	1	1.21mi
4874 S Village Dr Toledo, OH	1.0–2.0	1.0	900	$1,120	$1.24	15d	1	1.24mi
5901 Ryewyck Dr Toledo, OH	2.0	1.0	900	$900	$1.00	13d	1	1.30mi
2250 Perrysburg Holland Rd Maumee, OH	2.0	1.0	727	$904	$1.24	8d	1	1.39mi
5001 South Ave Toledo, OH	3.0	2.0	1312	$1,424	$1.09	15d	1	1.41mi
5702 Angola Rd Toledo, OH	3.0	2.0	1056	$1,249	$1.18	24d	1	1.41mi

HOA detail condo

• Monthly dues: $222 · $2,664/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $70,000 Active 20 DOM
2. 2026-06-17
   days on market $70,000 Active 19 DOM
3. 2026-06-16
   days on market $70,000 Active 18 DOM
4. 2026-06-15
   days on market $70,000 Active 17 DOM
5. 2026-06-14
   pricedays on market $70,000 Active 15 DOM
6. 2026-06-10
   days on market $72,500 Active 12 DOM
7. 2026-06-09
   days on market $72,500 Active 11 DOM
8. 2026-06-08
   days on market $72,500 Active 10 DOM
9. 2026-06-07
   days on market $72,500 Active 9 DOM
10. 2026-06-05
    days on market $72,500 Active 6 DOM
11. 2026-06-03
    days on market $72,500 Active 5 DOM
12. 2026-06-02
    days on market $72,500 Active 4 DOM
13. 2026-06-01
    days on market $72,500 Active 3 DOM
14. 2026-05-31
    days on market $72,500 Active 2 DOM
15. 2026-05-30
    pricestatusdays on marketlisting id $72,500 Active 1 DOM
16. 2026-05-04
    price $69,400 248-char remark
17. 2026-04-17
    price $69,900 248-char remark
18. 2026-03-26
    price $72,500 248-char remark
19. 2026-03-10
    listed $75,000 Active 248-char remark
20. 2025-12-02
    historical
21. 2025-11-05
    listed $75,000 Active
22. 2018-05-16
    soldstatus $30,000
23. 2018-05-04
    soldstatus $30,000
24. 2018-04-29
    listed $30,000
25. 1998-01-30
    soldstatus $39,000
26. 1989-08-14
    soldstatus $33,000
27. 1978-07-28
    soldstatus $32,100

ⓘ 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: $1,268 · $106/mo
• Projected year-2 tax: $1,268 · $106/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 ≥100°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: $13,413
• − Mortgage interest: −$3,921
• − Property taxes: −$1,268
• − Insurance: −$350
• − Repairs & maintenance: −$1,073
• − Management: −$1,073
• − HOA: −$2,664
• − Depreciation: −$2,036
• Taxable income: $1,027
• Est. tax owed @ 24.0%: −$247
• After-tax cash flow: $1,662/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): 29,075
• Household income: $58,961
• Rent vs Own: 40.7% rent · 59.3% own
• Severe rent burden: 1407.0

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 (67%)
• Race & ethnicity: White 67% Black 21% Hispanic / Latino 7% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Romanian 8% Italian 5% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Other Indo-European 1% Spanish 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: ▼ -61.96%
• Current HPI: 214.7031
• Rent YoY: ▲ 8.03%
• 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

+118.1% since first listed

15 events — show timeline

• 2026-06-10 Price Changed $70,000 NORIS
• 2026-05-29 Listed $72,500 NORIS
• 2026-05-21 Listing Removed — NORIS
• 2026-05-04 Price Changed $69,400 NORIS
• 2026-04-17 Price Changed $69,900 NORIS
• 2026-03-26 Price Changed $72,500 NORIS
• 2026-03-10 Listed $75,000 NORIS
• 2025-12-02 Listing Removed — NORIS
• 2025-11-05 Listed $75,000 NORIS
• 2018-05-16 Sold (Public Records) $30,000 Public Records
• 2018-05-04 Sold (MLS) $30,000 NORIS
• 2018-04-29 Listed $30,000 NORIS
• 1998-01-30 Sold (Public Records) $39,000 Public Records
• 1989-08-14 Sold (Public Records) $33,000 Public Records
• 1978-07-28 Sold (Public Records) $32,100 Public Records

Property tax history

+0.8%/yr

Latest (2025): $1,268 · +0.7% YoY. Source: county tax records.