620 Southover Rd · Toledo, OH 43612

$89,900

2 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 2 Days on market

Built 1955 4,500 sqft lot Est $128k · 30% under

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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 +26.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +6.8/10.0
• Rent growth +4.0/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Must See! This very clean, well maintained home has the cozy feel you've been looking for. Near Miracle Mile Shopping Center and Bennett Venture Academy. This home offers a Cinch Home Warranty and has a Waterproofed Basement! Call Today!

Key facts

• 4,500 sq ft lot
• 2 garage spots
• Built 1955

Property features AI

Finance

• HOA & community: Street lights in the community

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer and storm sewer; Cable available; Natural gas connected
• Home design: Single-family residence; One story
• Construction: Wood siding exterior; Block foundation
• Exterior features: Shingle roof; Chain link and privacy fencing; Corner lot; City street frontage

Interior

• Kitchen: Gas oven; Refrigerator
• Bedrooms: Bedroom 2 on the main level
• Flooring: Carpet; Wood
• Bathrooms: 1 full bathroom; 1 half bathroom (total 1.5)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Basement present
• Laundry & utility: Washer and dryer; Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $227 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 9.3% vs local median 7.6% in Toledo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Larchmont Elementary School (math 12% / reading 21%, grade F, #1,363 of 1,584 statewide, top 86%, 415 students, 0% FRL); Start High School (math 11% / reading 33%, grade F, #672 of 781 statewide, top 86%, 1,242 students, 50% 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 (+6.0%/yr); 92 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $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 + 6.0% rent growth), your $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 22y 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.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,900

Questions for the listing agent

1. Built in 1955 — 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: 1.18% ✓
• Cap rate: 9.33%
• Cash-on-cash: 10.83%
• DSCR: 1.48
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $128,016
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
840 Southover Rd	0.23mi	3/1.0 (+1)	1,045 (+4%)	3mo	$150,000	$144	76
706 W Gramercy Ave	0.39mi	2/1.0	966 (-4%)	2mo	$99,000	$102	74
323 W Crawford Ave	0.37mi	3/2.0 (+1)	1,008 (0%)	2mo	$147,500	$146	72
718 W Capistrano Ave	0.28mi	3/1.0 (+1)	945 (-6%)	1mo	$120,000	$127	71
803 Mayfair Blvd	0.21mi	3/1.0 (+1)	1,123 (+11%)	1mo	$169,000	$150	66
904 Annabelle Dr	0.49mi	3/1.0 (+1)	972 (-4%)	2mo	$102,000	$105	65
802 W Capistrano Ave	0.32mi	3/1.0 (+1)	1,102 (+9%)	1mo	$150,000	$136	64
703 W Northgate Pkwy	0.33mi	3/1.0 (+1)	864 (-14%)	1mo	$135,000	$156	55
520 Waggoner Blvd	0.60mi	2/1.0	896 (-11%)	2mo	$110,000	$123	52
826 W Gramercy Ave	0.43mi	3/1.0 (+1)	1,143 (+13%)	2mo	$103,000	$90	51
5145 Ford Ave	0.59mi	3/1.0 (+1)	864 (-14%)	3mo	$101,500	$117	41
4449 Burnham Ave	0.68mi	3/1.0 (+1)	1,150 (+14%)	2mo	$119,900	$104	38

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 · 6.01% rent growth · sell at horizon

5-year hold

• IRR: 3.2%
• Equity multiple: 1.13×
• Total profit: $3,225
• Equity at exit: $13,404

10-year hold

• IRR: 15.4%
• Equity multiple: 2.43×
• Total profit: $35,939
• 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 43612

• Home prices YoY: -17.5%
• Rents YoY: 6.0%
• Active inventory: 92
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,062 high
• Mortgage (P&I): −$471
• Tax from tax record: −$102 /mo · $1,230/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $227

Break-even live

Break-even rent $774

Max offer price $89,900

Occupancy floor 74%

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 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5207 Bennett Rd Toledo, OH	2.0	2.0	1109	$1,200	$1.08	14d	1	0.14mi
823 Custer Dr Unit Upstairs Toledo, OH	2.0	1.0	700	$925	$1.32	14d	1	0.24mi
927 W Northgate Pkwy Toledo, OH	2.0	1.0	896	$1,100	$1.23	14d	1	0.43mi
244 Sunset Blvd Toledo, OH	2.0	1.0	726	$1,045	$1.44	21d	1	0.67mi
540 W Alexis Rd Toledo, OH	1.0–2.0	1.0	725	$944	$1.30	14d	14	0.84mi
830 W Alexis Rd Toledo, OH	1.0	1.0	700	$725	$1.04	43d	1	0.86mi
4459 N Haven Ave Toledo, OH	3.0	1.0	1416	$1,200	$0.85	14d	1	0.89mi
1338 Crestwood Rd Toledo, OH	3.0	1.0	1000	$1,250	$1.25	14d	1	0.92mi
4220 Caroline Ave Toledo, OH	3.0	1.0	944	$1,095	$1.16	43d	1	0.97mi
4140 Caroline Ave Toledo, OH	3.0	1.5	1378	$1,650	$1.20	23d	1	1.03mi
4129 Vermaas Ave Toledo, OH	3.0	1.5	1385	$1,250	$0.90	43d	1	1.05mi
4124 Vermaas Ave Toledo, OH	2.0	1.0	1245	$997	$0.80	43d	1	1.06mi
4158 Mayfield Dr Toledo, OH	2.0	1.0	960	$850	$0.89	14d	1	1.11mi
4039 Vermaas Ave Toledo, OH	2.0	1.0	900	$900	$1.00	23d	1	1.11mi
4013 Caroline Ave Toledo, OH	1.0	1.0	840	$800	$0.95	21d	1	1.16mi
1016 Mallett St Unit 1 Toledo, OH	2.0	1.0	1300	$900	$0.69	43d	1	1.18mi
4138 N Lockwood Ave Toledo, OH	2.0	1.0	1300	$1,050	$0.81	23d	1	1.20mi
3950 Woodhaven Dr Toledo, OH	2.0	1.0	1072	$745	$0.69	23d	1	1.24mi
4614 Commonwealth Ave Toledo, OH	3.0	1.5	1459	$1,295	$0.89	14d	1	1.27mi
4223 Birchall Rd Toledo, OH	3.0	1.0	1338	$1,395	$1.04	23d	1	1.33mi
1417 Primrose Ave Toledo, OH	3.0	1.0	1411	$1,625	$1.15	14d	1	1.40mi
6220 Lewis Ave Toledo, OH	1.0–2.0	1.0	764	$895	$1.17	14d	1	1.40mi
1733 Christian Ave Unit 5 Toledo, OH	2.0	1.0	839	$700	$0.83	43d	1	1.44mi
1733 Christian Ave Unit 2 Toledo, OH	1.0	1.0	839	$600	$0.72	23d	1	1.44mi
1732 Newport Ave Toledo, OH	3.0	1.0	896	$1,350	$1.51	23d	1	1.46mi
4120 Parrakeet Ave Toledo, OH	3.0	2.0	1410	$1,450	$1.03	43d	1	1.46mi
3915 Willys Pkwy Unit 3915 Toledo, OH	3.0	1.0	1080	$800	$0.74	21d	1	1.48mi
1014 Berdan Ave Toledo, OH	3.0	1.0	1215	$1,200	$0.99	43d	1	1.48mi
3812 Drexel Dr Apt 2 Toledo, OH	1.0	1.0	950	$773	$0.81	23d	1	1.49mi
3805 Berkeley Unit 3 Toledo, OH	1.0	1.0	700	$735	$1.05	14d	1	1.49mi

Listing history 14 events

1. 2026-05-21
   listed $89,900 Active
2. 2025-10-14
   price $86,000 237-char remark

   Show marketing remark (237 chars)

   Must See! This very clean, well maintained home has the cozy feel you've been looking for. Near Miracle Mile Shopping Center and Bennett Venture Academy. This home offers a Cinch Home Warranty and has a Waterproofed Basement! Call Today!

3. 2020-10-13
   soldstatus $86,000 237-char remark

   Show marketing remark (237 chars)

   Must See! This very clean, well maintained home has the cozy feel you've been looking for. Near Miracle Mile Shopping Center and Bennett Venture Academy. This home offers a Cinch Home Warranty and has a Waterproofed Basement! Call Today!

4. 2020-09-04
   listed $90,000 237-char remark

   Show marketing remark (237 chars)

   Must See! This very clean, well maintained home has the cozy feel you've been looking for. Near Miracle Mile Shopping Center and Bennett Venture Academy. This home offers a Cinch Home Warranty and has a Waterproofed Basement! Call Today!

5. 2012-02-01
   historical
6. 2011-08-30
   listed $79,000
7. 2008-09-22
   historical
8. 2008-09-15
   listed $89,900
9. 2008-09-14
   historical
10. 2008-03-14
    listed $89,900
11. 2004-03-23
    soldstatus $78,200
12. 2004-03-19
    soldstatus $78,188
13. 2004-03-04
    price $78,188
14. 2004-02-17
    listed $75,900

ⓘ 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: $1,230 · $102/mo
• Projected year-2 tax: $1,316 · $110/mo
• Expected delta: +$86/yr (+$7/mo · 7.0%)

ⓘ 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: $12,738
• − Mortgage interest: −$5,036
• − Property taxes: −$1,230
• − Insurance: −$450
• − Repairs & maintenance: −$1,019
• − Management: −$1,019
• − Depreciation: −$2,615
• Taxable income: $1,370
• Est. tax owed @ 24.0%: −$329
• After-tax cash flow: $2,398/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): 28,480
• Household income: $50,728
• Rent vs Own: 45.4% rent · 54.6% own
• Severe rent burden: 1203.0

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: Majority White (63%)
• Race & ethnicity: White 63% Black 23% Two or more races 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Romanian 9% Lithuanian 3% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% 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: ▼ -50.05%
• Current HPI: 235.5389
• Rent YoY: ▲ 6.01%
• 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

+18.4% since first listed

14 events — show timeline

• 2026-05-21 Listed $89,900 NORIS
• 2025-10-14 Price Changed $86,000 NORIS
• 2020-10-13 Sold (MLS) $86,000 NORIS
• 2020-09-04 Listed $90,000 NORIS
• 2012-02-01 Listing Removed — NORIS
• 2011-08-30 Listed $79,000 NORIS
• 2008-09-22 Listing Removed — NORIS
• 2008-09-15 Listed $89,900 NORIS
• 2008-09-14 Listing Removed — NORIS
• 2008-03-14 Listed $89,900 NORIS
• 2004-03-23 Sold (Public Records) $78,200 Public Records
• 2004-03-19 Sold (MLS) $78,188 NORIS
• 2004-03-04 Price Changed $78,188 NORIS
• 2004-02-17 Listed $75,900 NORIS

Property tax history

-0.9%/yr

Latest (2025): $1,230 · -31.9% YoY. Source: county tax records.