3716 Willys Pkwy · Toledo, OH 43612

$125,000

4 bd · 2.0 ba · 2,308 sqft · MultiFamily public records · 40 Days on market

Built 1925 6,000 sqft lot $54/sqft · 17% below area Est $146k · 14% 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 +30.0/30.0
• ARV discount +13.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Prime duplex investment in Toledo: Each unit offers 2 bedrooms/1 bathroom. Lower unit rented at $775/mo through July 2026; upper unit at $875/mo through October 2027 and a Lead Safe Certificate through 12/1/30. Recent updates include luxury vinyl plank flooring, fresh paint throughout, updated electrical panels (both units), and new water heater. Separate utilities, solid rental history, and mechanical upgrades make this a reliable cash-flow property. Must be sold with 3712 Willys Pkwy.

Key facts

• Separate utilities
• Fresh paint
• Mechanical upgrades

Tags

• LUXURY VINYL PLANK FLOORING
• FRESH PAINT
• UPDATED ELECTRICAL PANELS
• NEW WATER HEATER
• SEPARATE UTILITIES
• MECHANICAL UPGRADES

Property features AI

Finance

• Financial info: Property type: Residential income (duplex); Total units: 2 (both leased); Buildings on lot: 1; Tenants pay all utilities; Owner pays exterior maintenance, HVAC maintenance, roof maintenance, insurance, snow removal, taxes, and lawn care

Exterior

• Parking: On-street parking
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer; Sewer connected; Water connected
• Home design: Residential income duplex; Two stories; Entry level not specified; Facing direction not specified
• Construction: Shake siding; Block foundation; Built year not specified
• Exterior features: Shingle roof; Level lot; City street frontage

Interior

• Kitchen: Electric oven
• Flooring: Luxury vinyl; Wood
• Heating & cooling: Forced air heating; Ceiling fans for cooling; Has heating; Has cooling
• Interior features: Other

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $125k.

Deal economics

• At list price, monthly cash flow is $908 ($11k/yr) — positive. Per door: $454/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.0% vs local median 7.7% 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: Longfellow Elementary School (math 12% / reading 19%, grade F, #1,375 of 1,584 statewide, top 87%, 533 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); 99 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• At $2,239/mo this rent would consume 53% of the median local household income ($51k/yr) (locally 1203% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y 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 $40k; list at $125k implies a 212% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.79% ✓
• Cap rate: 15.01%
• Cash-on-cash: 31.15%
• DSCR: 2.39
• GRM: 4.7

CMA / ARV

• ARV (median comp): $145,805
• List price: $125,000
• Delta: -14.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3542-3544 Homewood Ave	0.15mi	4/2.0	2,336 (+1%)	1mo	$97,900	$42	90
3848 Revere Dr Uppr & Lower	0.30mi	4/2.0	2,424 (+5%)	2mo	$132,000	$54	76
4114 Kingsbury Ave	0.56mi	4/2.0	2,270 (-2%)	7mo	$94,250	$42	66
1325 Laclede Rd	0.40mi	4/2.0	2,250 (-2%)	21mo	$160,000	$71	60
3819 Revere Dr	0.31mi	4/2.0	2,530 (+10%)	14mo	$107,500	$42	58
1016 Mallett St	0.45mi	4/2.0	2,604 (+13%)	6mo	$80,000	$31	52
1113 Alcott St	0.73mi	4/2.0	2,200 (-5%)	8mo	$140,000	$64	52
3823 Baltimore St	0.35mi	3/2.0 (-1)	2,000 (-13%)	10mo	$103,000	$52	49
4214 Kingsbury Ave	0.63mi	4/2.0	2,054 (-11%)	18mo	$132,000	$64	37
4218 Kingsbury Ave	0.64mi	4/2.0	2,074 (-10%)	21mo	$144,000	$69	36

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: 29.3%
• Equity multiple: 2.27×
• Total profit: $44,620
• Equity at exit: $18,638

10-year hold

• IRR: 38.4%
• Equity multiple: 5.11×
• Total profit: $143,976
• Equity at exit: $10,808

Cash invested: $35,000 (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 43612

• Home prices YoY: -17.5%
• Rents YoY: 6.0%
• Active inventory: 99
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,239 high
• Mortgage (P&I): −$656
• Tax from tax record: −$153 /mo · $1,833/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $908

Break-even live

Break-even rent $1,089

Max offer price $125,000

Occupancy floor 54%

Sensitivity live

Price	-10% $979	-5% $944	+0% $908	+5% $873	+10% $838
Rent	-10% $732	-5% $820	+0% $908	+5% $997	+10% $1,085
Rate	-1.0pp $971	-0.5pp $940	base $908	+0.5pp $876	+1.0pp $843

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,240
Total (2 units)			$2,239

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
614 Cadillac Ct Toledo, OH	3.0	1.0	1581	$1,075	$0.68	24d	1	0.82mi
1436 Palmetto Ave Toledo, OH	3.0	1.0	1678	$1,400	$0.83	24d	1	1.13mi

Listing history 26 events

1. 2026-06-21
   days on market $125,000 Active 40 DOM
2. 2026-06-18
   days on market $125,000 Active 37 DOM
3. 2026-06-17
   days on market $125,000 Active 36 DOM
4. 2026-06-16
   days on market $125,000 Active 35 DOM
5. 2026-06-15
   days on market $125,000 Active 34 DOM
6. 2026-06-14
   days on market $125,000 Active 32 DOM
7. 2026-06-10
   days on market $125,000 Active 29 DOM
8. 2026-06-09
   days on market $125,000 Active 28 DOM
9. 2026-06-08
   days on market $125,000 Active 27 DOM
10. 2026-06-07
    pricedays on market $125,000 Active 26 DOM
11. 2026-06-05
    days on market $130,000 Active 23 DOM
12. 2026-06-03
    days on market $130,000 Active 22 DOM
13. 2026-06-02
    days on market $130,000 Active 21 DOM
14. 2026-06-01
    days on market $130,000 Active 20 DOM
15. 2026-05-31
    days on market $130,000 Active 19 DOM
16. 2026-05-30
    days on market $130,000 Active 18 DOM
17. 2026-05-12
    listed $130,000 Active 491-char remark
18. 2026-04-06
    historical
19. 2026-02-17
    listed $120,000 Active
20. 2022-06-20
    historical
21. 2022-05-21
    status Active
22. 2022-05-12
    historical Contingent
23. 2022-05-09
    listed $109,900 Active
24. 2020-07-29
    soldstatus $40,000
25. 2020-07-01
    soldstatus $40,000
26. 2020-06-17
    listed $40,000

ⓘ 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: $1,833 · $153/mo
• Projected year-2 tax: $1,892 · $158/mo
• Expected delta: +$58/yr (+$5/mo · 3.2%)

ⓘ 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: $26,868
• − Mortgage interest: −$7,002
• − Property taxes: −$1,833
• − Insurance: −$625
• − Repairs & maintenance: −$2,149
• − Management: −$2,149
• − Depreciation: −$3,636
• Taxable income: $9,472
• Est. tax owed @ 24.0%: −$2,273
• After-tax cash flow: $8,628/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

+212.5% since first listed

11 events — show timeline

• 2026-06-06 Price Changed $125,000 NORIS
• 2026-05-12 Listed $130,000 NORIS
• 2026-04-06 Listing Removed — NORIS
• 2026-02-17 Listed $120,000 NORIS
• 2022-06-20 Listing Removed — NORIS
• 2022-05-21 Relisted — NORIS
• 2022-05-12 Contingent — NORIS
• 2022-05-09 Listed $109,900 NORIS
• 2020-07-29 Sold (Public Records) $40,000 Public Records
• 2020-07-01 Sold (MLS) $40,000 NORIS
• 2020-06-17 Listed $40,000 NORIS

Property tax history

+0.2%/yr

Latest (2025): $1,833 · -5.8% YoY. Source: county tax records.