1002 Prouty Ave · Toledo, OH 43609

$25,000

None bd · None ba · 3,673 sqft · MultiFamily public records · 213 Days on market

Built 1857 3,360 sqft lot ↓ 54% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +5.4/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

A great fit for investors or handy buyers looking for a value-add opportunity with multiple units. Multiple flexible purchase structures are available, including seller financing, lease options, rent-to-own, and cash. A solid project with potential for the right buyer. 4 BED / 4 BATH LEGALLY ZONED QUADPLEX.

Key facts

• 3,360 sq ft lot
• Built 1857
• Listed 213 days

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $25k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive. Per door: $584/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Cap rate 118.4% vs local median 7.6% 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-, schools D-, crime 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.
• Market conditions: Rents rising fast (+7.8%/yr); 99 active listings in the ZIP; lower-income renter base — watch delinquency; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• At $3,175/mo this rent would consume 90% of the median local household income ($42k/yr) (locally 1603% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $360 of equity ($173 loan paydown + $187 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 213 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $25k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1857 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $22,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 213 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1857 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 12.70% ✓
• Cap rate: 118.40%
• Cash-on-cash: 400.37%
• DSCR: 18.81
• GRM: 0.7

CMA / ARV

• ARV (median comp): $57,616
• List price: $25,000
• Delta: -56.61%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
674 Walbridge Ave	0.56mi	5/4.0	3,346 (-9%)	10mo	$125,000	$37	50

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: —
• Equity multiple: 24.58×
• Total profit: $165,035
• Equity at exit: $8,210

10-year hold

• IRR: —
• Equity multiple: 59.95×
• Total profit: $412,625
• Equity at exit: $10,664

Cash invested: $7,000 (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 43609

• Home prices YoY: 0.3%
• Rents YoY: 7.8%
• Active inventory: 99
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $3,175 high
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$667
• Net cashflow: $2,335

Break-even live

Break-even rent $219

Max offer price $25,000

Occupancy floor 21%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$3,176
Total (4 units)			$3,175

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $25,000 Active 213 DOM
2. 2026-06-17
   days on market $25,000 Active 212 DOM
3. 2026-06-16
   days on market $25,000 Active 211 DOM
4. 2026-06-15
   days on market $25,000 Active 210 DOM
5. 2026-06-14
   days on market $25,000 Active 208 DOM
6. 2026-06-10
   days on market $25,000 Active 205 DOM
7. 2026-06-09
   days on market $25,000 Active 204 DOM
8. 2026-06-08
   days on market $25,000 Active 203 DOM
9. 2026-06-07
   days on market $25,000 Active 202 DOM
10. 2026-06-05
    days on market $25,000 Active 199 DOM
11. 2026-06-03
    status $25,000 Active 198 DOM
12. 2026-05-17
    status Pending 308-char remark

    Show marketing remark (308 chars)

    A great fit for investors or handy buyers looking for a value-add opportunity with multiple units. Multiple flexible purchase structures are available, including seller financing, lease options, rent-to-own, and cash. A solid project with potential for the right buyer. 4 BED / 4 BATH LEGALLY ZONED QUADPLEX.

13. 2026-03-13
    status Active 308-char remark

    Show marketing remark (308 chars)

    A great fit for investors or handy buyers looking for a value-add opportunity with multiple units. Multiple flexible purchase structures are available, including seller financing, lease options, rent-to-own, and cash. A solid project with potential for the right buyer. 4 BED / 4 BATH LEGALLY ZONED QUADPLEX.

14. 2026-03-10
    status Pending 308-char remark

    Show marketing remark (308 chars)

    A great fit for investors or handy buyers looking for a value-add opportunity with multiple units. Multiple flexible purchase structures are available, including seller financing, lease options, rent-to-own, and cash. A solid project with potential for the right buyer. 4 BED / 4 BATH LEGALLY ZONED QUADPLEX.

15. 2026-02-27
    status Active 308-char remark

    Show marketing remark (308 chars)

    A great fit for investors or handy buyers looking for a value-add opportunity with multiple units. Multiple flexible purchase structures are available, including seller financing, lease options, rent-to-own, and cash. A solid project with potential for the right buyer. 4 BED / 4 BATH LEGALLY ZONED QUADPLEX.

16. 2026-02-05
    status Pending 308-char remark

    Show marketing remark (308 chars)

    A great fit for investors or handy buyers looking for a value-add opportunity with multiple units. Multiple flexible purchase structures are available, including seller financing, lease options, rent-to-own, and cash. A solid project with potential for the right buyer. 4 BED / 4 BATH LEGALLY ZONED QUADPLEX.

17. 2025-12-23
    price $25,000 308-char remark

    Show marketing remark (308 chars)

    A great fit for investors or handy buyers looking for a value-add opportunity with multiple units. Multiple flexible purchase structures are available, including seller financing, lease options, rent-to-own, and cash. A solid project with potential for the right buyer. 4 BED / 4 BATH LEGALLY ZONED QUADPLEX.

18. 2025-12-11
    price $32,500 308-char remark

    Show marketing remark (308 chars)

    A great fit for investors or handy buyers looking for a value-add opportunity with multiple units. Multiple flexible purchase structures are available, including seller financing, lease options, rent-to-own, and cash. A solid project with potential for the right buyer. 4 BED / 4 BATH LEGALLY ZONED QUADPLEX.

19. 2025-12-01
    price $39,999 308-char remark

    Show marketing remark (308 chars)

    A great fit for investors or handy buyers looking for a value-add opportunity with multiple units. Multiple flexible purchase structures are available, including seller financing, lease options, rent-to-own, and cash. A solid project with potential for the right buyer. 4 BED / 4 BATH LEGALLY ZONED QUADPLEX.

20. 2025-10-14
    price $111,500 370-char remark

    Show marketing remark (370 chars)

    VERY GOOD 4 UNIT BUILDING IN SOUTH TOLEDO. 1 BEDROOM 1 BATH EACH UNIT. CURRENT RENTS ARE $1975 PER MONTH TOTAL AND SHOULD BE MORE. 3 UNITS RENT FOR $500 PER MONTH, ONE UNIT FOR $475 PER MONTH. MONTH TO MONTH. ONE UNIT CURRENTLY VACANT READY FOR NEW TENANT. TENANTS PAY ELECTRICITY AND GAS/HEAT. OWNER PAYS WATER BILL. WATER BILL RECORD IN ATTACHMENTS. GREAT INVESTMENT!

21. 2025-10-06
    listed $49,999 Active 308-char remark

    Show marketing remark (308 chars)

    A great fit for investors or handy buyers looking for a value-add opportunity with multiple units. Multiple flexible purchase structures are available, including seller financing, lease options, rent-to-own, and cash. A solid project with potential for the right buyer. 4 BED / 4 BATH LEGALLY ZONED QUADPLEX.

22. 2025-05-22
    soldstatus $111,500
23. 2025-05-16
    status Pending 370-char remark

    Show marketing remark (370 chars)

    VERY GOOD 4 UNIT BUILDING IN SOUTH TOLEDO. 1 BEDROOM 1 BATH EACH UNIT. CURRENT RENTS ARE $1975 PER MONTH TOTAL AND SHOULD BE MORE. 3 UNITS RENT FOR $500 PER MONTH, ONE UNIT FOR $475 PER MONTH. MONTH TO MONTH. ONE UNIT CURRENTLY VACANT READY FOR NEW TENANT. TENANTS PAY ELECTRICITY AND GAS/HEAT. OWNER PAYS WATER BILL. WATER BILL RECORD IN ATTACHMENTS. GREAT INVESTMENT!

24. 2025-05-14
    soldstatus $111,500 Closed 370-char remark

    Show marketing remark (370 chars)

    VERY GOOD 4 UNIT BUILDING IN SOUTH TOLEDO. 1 BEDROOM 1 BATH EACH UNIT. CURRENT RENTS ARE $1975 PER MONTH TOTAL AND SHOULD BE MORE. 3 UNITS RENT FOR $500 PER MONTH, ONE UNIT FOR $475 PER MONTH. MONTH TO MONTH. ONE UNIT CURRENTLY VACANT READY FOR NEW TENANT. TENANTS PAY ELECTRICITY AND GAS/HEAT. OWNER PAYS WATER BILL. WATER BILL RECORD IN ATTACHMENTS. GREAT INVESTMENT!

25. 2025-03-20
    historical Contingent 370-char remark

    Show marketing remark (370 chars)

    VERY GOOD 4 UNIT BUILDING IN SOUTH TOLEDO. 1 BEDROOM 1 BATH EACH UNIT. CURRENT RENTS ARE $1975 PER MONTH TOTAL AND SHOULD BE MORE. 3 UNITS RENT FOR $500 PER MONTH, ONE UNIT FOR $475 PER MONTH. MONTH TO MONTH. ONE UNIT CURRENTLY VACANT READY FOR NEW TENANT. TENANTS PAY ELECTRICITY AND GAS/HEAT. OWNER PAYS WATER BILL. WATER BILL RECORD IN ATTACHMENTS. GREAT INVESTMENT!

26. 2025-03-17
    listed $119,900 Active 370-char remark

    Show marketing remark (370 chars)

    VERY GOOD 4 UNIT BUILDING IN SOUTH TOLEDO. 1 BEDROOM 1 BATH EACH UNIT. CURRENT RENTS ARE $1975 PER MONTH TOTAL AND SHOULD BE MORE. 3 UNITS RENT FOR $500 PER MONTH, ONE UNIT FOR $475 PER MONTH. MONTH TO MONTH. ONE UNIT CURRENTLY VACANT READY FOR NEW TENANT. TENANTS PAY ELECTRICITY AND GAS/HEAT. OWNER PAYS WATER BILL. WATER BILL RECORD IN ATTACHMENTS. GREAT INVESTMENT!

27. 2019-06-19
    soldstatus $54,800

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $38,100
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$3,048
• − Management: −$3,048
• − Depreciation: −$727
• Taxable income: $29,376
• Est. tax owed @ 24.0%: −$7,050
• After-tax cash flow: $20,975/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): 21,404
• Household income: $42,313
• Rent vs Own: 55.7% rent · 44.3% own
• Severe rent burden: 1603.0

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 0.66)
• Race & ethnicity: White 47% Black 29% Hispanic / Latino 17% Two or more races 9%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 1%
• Foreign-born: 4% · Canada, China
• 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

-54.4% since first listed

16 events — show timeline

• 2026-05-17 Pending — NORIS
• 2026-03-13 Relisted — NORIS
• 2026-03-10 Pending — NORIS
• 2026-02-27 Relisted — NORIS
• 2026-02-05 Pending — NORIS
• 2025-12-23 Price Changed $25,000 NORIS
• 2025-12-11 Price Changed $32,500 NORIS
• 2025-12-01 Price Changed $39,999 NORIS
• 2025-10-14 Price Changed $111,500 NORIS
• 2025-10-06 Listed $49,999 NORIS
• 2025-05-22 Sold (Public Records) $111,500 Public Records
• 2025-05-16 Pending — NORIS
• 2025-05-14 Sold (MLS) $111,500 NORIS
• 2025-03-20 Contingent — NORIS
• 2025-03-17 Listed $119,900 NORIS
• 2019-06-19 Sold (Public Records) $54,800 Public Records

Property tax history

+0.2%/yr

Latest (2025): $1,411 · -2.6% YoY. Source: county tax records.