905 Walbridge Ave · Toledo, OH 43609

$65,000

2 bd · 1.0 ba · 970 sqft · SingleFamily public records · 83 Days on market

Built 1897 3,500 sqft lot $67/sqft · 61% above area ↓ 6% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Appreciation +5.4/10.0
• Rent growth +4.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks MLS

Come check out this cozy 2 bd home and make it your own. It is close to the Maumee River, Toledo Zoo and Downtown. Roof was replaced in 2016 and new furnace and central air in 2020. The upper loft can be used as additional bedroom or for storage.

Key facts

• 3,500 sq ft lot
• Garage
• Built 1897

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $347 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($925 rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.7% 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; 21 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).

Forward outlook

• In year one you build about $936 of equity ($449 loan paydown + $487 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 $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1897 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.42% ✓
• Cap rate: 12.69%
• Cash-on-cash: 22.86%
• DSCR: 2.02
• GRM: 5.9

CMA / ARV

• ARV (median comp): $40,323
• List price: $65,000
• Delta: 61.20%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
517 Knower St	0.53mi	3/1.0 (+1)	966 (-0%)	1mo	$65,000	$67	69
710 Western Ave	0.30mi	2/1.0	1,028 (+6%)	8mo	$72,500	$71	69
1152 Colton St	0.43mi	3/1.0 (+1)	1,046 (+8%)	1mo	$65,000	$62	61
616 Pleasant Pl	0.46mi	3/1.5 (+1)	941 (-3%)	6mo	$45,000	$48	61
678 Lorain St	0.56mi	3/1.0 (+1)	1,006 (+4%)	7mo	$26,000	$26	57
58 City Park	0.60mi	3/1.0 (+1)	1,008 (+4%)	7mo	$45,000	$45	55
511 Congress St	0.30mi	3/1.0 (+1)	1,109 (+14%)	6mo	$55,000	$50	52
1402 Prouty Ave	0.74mi	3/1.0 (+1)	1,030 (+6%)	1mo	$50,000	$49	49
109 Wellington St	0.64mi	2/1.0	859 (-11%)	3mo	$4,500	$5	48
570 Orchard St	0.52mi	2/1.5	836 (-14%)	7mo	$40,000	$48	45
1127 Harding Dr	0.54mi	3/1.0 (+1)	1,104 (+14%)	4mo	$22,000	$20	43
1049 King St	0.74mi	2/1.0	1,109 (+14%)	3mo	$29,000	$26	39

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: 28.3%
• Equity multiple: 2.49×
• Total profit: $27,162
• Equity at exit: $21,346

10-year hold

• IRR: 33.7%
• Equity multiple: 5.64×
• Total profit: $84,438
• Equity at exit: $27,726

Cash invested: $18,200 (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: 5.9×

Monthly cashflow live

• Estimated rent: $925 high
• Mortgage (P&I): −$341
• Tax from tax record: −$16 /mo · $188/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $347

Break-even live

Break-even rent $486

Max offer price $65,000

Occupancy floor 57%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
827 Colburn St Toledo, OH	2.0	1.0	1092	$750	$0.69	44d	1	0.18mi
223 Charles St Toledo, OH	2.0	1.0	612	$875	$1.43	44d	1	0.32mi
771 Orchard St Unit 7715 Toledo, OH	2.0	1.0	1086	$645	$0.59	23d	1	0.32mi
1037 Orchard St Toledo, OH	2.0	1.0	696	$820	$1.18	21d	1	0.41mi
416 Maumee Ave Unit D Toledo, OH	1.0	1.0	622	$475	$0.76	44d	1	0.55mi
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	44d	1	0.64mi
1418 Colburn St Toledo, OH	3.0	1.0	992	$1,200	$1.21	14d	1	0.75mi
244 Knower St Toledo, OH	3.0	1.0	1120	$995	$0.89	14d	1	0.77mi
1521 Emma St Unit LABS 1521 Emma St, B 43051619729 Toledo, OH	1.0	1.0	975	$900	$0.92	44d	1	0.91mi
538 Nicholas St Unit B Toledo, OH	1.0	1.0	600	$600	$1.00	44d	1	0.97mi
705 Nicholas St Toledo, OH	2.0	1.0	1037	$900	$0.87	44d	1	0.99mi
400 Nebraska Ave Toledo, OH	1.0	1.0	664	$1,129	$1.70	14d	1	1.17mi
2594 Broadway St Toledo, OH	2.0	1.0	1076	$825	$0.77	44d	1	1.18mi
707 Toronto Ave Toledo, OH	1.0	1.0	750	$775	$1.03	23d	1	1.32mi
1734 Arlington Ave Toledo, OH	2.0	1.0	700	$800	$1.14	14d	1	1.38mi
34 S Erie St Apt 602 Toledo, OH	1.0	1.0	894	$1,315	$1.47	44d	1	1.46mi
34 S Erie St Unit 611 Toledo, OH	1.0	1.0	990	$1,300	$1.31	44d	1	1.46mi
34 S Erie St Unit 409 Toledo, OH	1.0	1.0	930	$1,375	$1.48	44d	1	1.46mi
34 S Erie St Unit 202 Toledo, OH	1.0	1.0	894	$1,275	$1.43	23d	1	1.46mi
34 S Erie St Unit 107 Toledo, OH	1.0	1.0	1103	$1,300	$1.18	23d	1	1.46mi
34 S Erie St Unit 209 Toledo, OH	1.0	1.0	930	$1,375	$1.48	23d	1	1.47mi

Listing history 20 events

1. 2026-06-18
   status $65,000 Pending 83 DOM
2. 2026-06-17
   days on market $65,000 Active 83 DOM
3. 2026-06-16
   days on market $65,000 Active 82 DOM
4. 2026-06-15
   days on market $65,000 Active 81 DOM
5. 2026-06-14
   pricedays on market $65,000 Active 79 DOM
6. 2026-06-10
   days on market $70,000 Active 76 DOM
7. 2026-06-09
   days on market $70,000 Active 75 DOM
8. 2026-06-08
   days on market $70,000 Active 74 DOM
9. 2026-06-07
   days on market $70,000 Active 73 DOM
10. 2026-06-05
    days on market $70,000 Active 70 DOM
11. 2026-06-03
    days on market $70,000 Active 69 DOM
12. 2026-06-02
    days on market $70,000 Active 68 DOM
13. 2026-06-01
    days on market $70,000 Active 67 DOM
14. 2026-05-31
    days on market $70,000 Active 66 DOM
15. 2026-05-30
    days on market $70,000 Active 65 DOM
16. 2026-05-06
    status Active 246-char remark

    Show marketing remark (246 chars)

    Come check out this cozy 2 bd home and make it your own. It is close to the Maumee River, Toledo Zoo and Downtown. Roof was replaced in 2016 and new furnace and central air in 2020. The upper loft can be used as additional bedroom or for storage.

17. 2026-04-30
    status Pending 246-char remark

    Show marketing remark (246 chars)

    Come check out this cozy 2 bd home and make it your own. It is close to the Maumee River, Toledo Zoo and Downtown. Roof was replaced in 2016 and new furnace and central air in 2020. The upper loft can be used as additional bedroom or for storage.

18. 2026-04-14
    price $74,900 246-char remark

    Show marketing remark (246 chars)

    Come check out this cozy 2 bd home and make it your own. It is close to the Maumee River, Toledo Zoo and Downtown. Roof was replaced in 2016 and new furnace and central air in 2020. The upper loft can be used as additional bedroom or for storage.

19. 2026-03-20
    listed $79,900 Active 246-char remark

    Show marketing remark (246 chars)

    Come check out this cozy 2 bd home and make it your own. It is close to the Maumee River, Toledo Zoo and Downtown. Roof was replaced in 2016 and new furnace and central air in 2020. The upper loft can be used as additional bedroom or for storage.

20. 2026-03-16
    historical $79,900 246-char remark

    Show marketing remark (246 chars)

    Come check out this cozy 2 bd home and make it your own. It is close to the Maumee River, Toledo Zoo and Downtown. Roof was replaced in 2016 and new furnace and central air in 2020. The upper loft can be used as additional bedroom or for storage.

ⓘ 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: $188 · $16/mo
• Projected year-2 tax: $601 · $50/mo
• Expected delta: +$413/yr (+$34/mo · 219.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 67% 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: $11,094
• − Mortgage interest: −$3,641
• − Property taxes: −$188
• − Insurance: −$325
• − Repairs & maintenance: −$888
• − Management: −$888
• − Depreciation: −$1,891
• Taxable income: $3,274
• Est. tax owed @ 24.0%: −$786
• After-tax cash flow: $3,375/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

-6.3% since first listed

5 events — show timeline

• 2026-05-06 Relisted — NORIS
• 2026-04-30 Pending — NORIS
• 2026-04-14 Price Changed $74,900 NORIS
• 2026-03-20 Listed $79,900 NORIS
• 2026-03-16 Coming Soon $79,900 NORIS

Property tax history

+1.5%/yr

Latest (2025): $188 · +22.8% YoY. Source: county tax records.