2360 Maplewood Ave · Toledo, OH 43620

$52,000

4 bd · 2.0 ba · 2,256 sqft · MultiFamily public records · 364 Days on market

Built 1902 6,600 sqft lot ↓ 26% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

This property has great bones and major updates already complete including brand new electrical, a new furnace, and solid structure throughout. All it needs is your cosmetic touch to bring it to life. Perfect opportunity to turn into a high cash-flowing investment!

Key facts

• 6,600 sq ft lot
• Built 1902
• Listed 363 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $52k.

Deal economics

• At list price, monthly cash flow is $528 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $52k).
• Recommended offer: $46k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.5% 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: 22 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• At $1,289/mo this rent would consume 72% of the median local household income ($21k/yr) — 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 $360 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 + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 364 days — a 12% lower offer ($46k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.5% of price; built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $45,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 364 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.48% ✓
• Cap rate: 18.47%
• Cash-on-cash: 43.50%
• DSCR: 2.94
• GRM: 3.4

CMA / ARV

• ARV (median comp): $120,608
• List price: $52,000
• Delta: -56.88%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2369 Maplewood Ave	0.03mi	5/2.0 (+1)	2,202 (-2%)	14mo	$60,000	$27	78
2434 Lawrence Ave	0.11mi	4/2.0	1,965 (-13%)	6mo	$94,000	$48	68
1320 Goodale Ave	0.68mi	4/2.0	2,292 (+2%)	16mo	$45,000	$20	52
1301 Goodale Ave	0.64mi	4/2.0	2,000 (-11%)	16mo	$62,000	$31	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 40.5%
• Equity multiple: 2.74×
• Total profit: $25,293
• Equity at exit: $7,753

10-year hold

• IRR: 46.8%
• Equity multiple: 5.51×
• Total profit: $65,722
• Equity at exit: $4,496

Cash invested: $14,560 (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 43620

• Home prices YoY: -33.0%
• Active inventory: 22
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,289 medium
• Mortgage (P&I): −$273
• Tax from tax record: −$196 /mo · $2,357/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $528

Break-even live

Break-even rent $621

Max offer price $52,000

Occupancy floor 54%

Sensitivity live

Price	-10% $695	-5% $543	+0% $528	+5% $513	+10% $498
Rent	-10% $426	-5% $477	+0% $528	+5% $579	+10% $630
Rate	-1.0pp $554	-0.5pp $541	base $528	+0.5pp $514	+1.0pp $501

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: $13,000
• Closing costs: $1,560
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
119 Winthrop St Toledo, OH	3.0	1.0	1734	$1,350	$0.78	24d	1	0.78mi
1436 Palmetto Ave Toledo, OH	3.0	1.0	1678	$1,400	$0.83	24d	1	0.85mi
614 Cadillac Ct Toledo, OH	3.0	1.0	1581	$1,075	$0.68	24d	1	0.96mi

Listing history 19 events

1. 2026-06-17
   days on market $52,000 Active 364 DOM
2. 2026-06-16
   days on market $52,000 Active 363 DOM
3. 2026-06-15
   days on market $52,000 Active 362 DOM
4. 2026-06-14
   days on market $52,000 Active 360 DOM
5. 2026-06-10
   days on market $52,000 Active 357 DOM
6. 2026-06-09
   days on market $52,000 Active 356 DOM
7. 2026-06-08
   days on market $52,000 Active 355 DOM
8. 2026-06-07
   days on market $52,000 Active 354 DOM
9. 2026-06-05
   days on market $52,000 Active 351 DOM
10. 2026-06-03
    days on market $52,000 Active 350 DOM
11. 2026-06-02
    days on market $52,000 Active 349 DOM
12. 2026-06-01
    days on market $52,000 Active 348 DOM
13. 2026-05-31
    days on market $52,000 Active 347 DOM
14. 2026-05-30
    days on market $52,000 Active 346 DOM
15. 2026-01-05
    price $52,000 265-char remark

    Show marketing remark (265 chars)

    This property has great bones and major updates already complete including brand new electrical, a new furnace, and solid structure throughout. All it needs is your cosmetic touch to bring it to life. Perfect opportunity to turn into a high cash-flowing investment!

16. 2025-11-12
    price $64,900 265-char remark

    Show marketing remark (265 chars)

    This property has great bones and major updates already complete including brand new electrical, a new furnace, and solid structure throughout. All it needs is your cosmetic touch to bring it to life. Perfect opportunity to turn into a high cash-flowing investment!

17. 2025-07-16
    price $66,900 265-char remark

    Show marketing remark (265 chars)

    This property has great bones and major updates already complete including brand new electrical, a new furnace, and solid structure throughout. All it needs is your cosmetic touch to bring it to life. Perfect opportunity to turn into a high cash-flowing investment!

18. 2025-06-19
    listed $69,999 Active 265-char remark

    Show marketing remark (265 chars)

    This property has great bones and major updates already complete including brand new electrical, a new furnace, and solid structure throughout. All it needs is your cosmetic touch to bring it to life. Perfect opportunity to turn into a high cash-flowing investment!

19. 2025-06-18
    historical $69,999 265-char remark

    Show marketing remark (265 chars)

    This property has great bones and major updates already complete including brand new electrical, a new furnace, and solid structure throughout. All it needs is your cosmetic touch to bring it to life. Perfect opportunity to turn into a high cash-flowing investment!

ⓘ 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: $2,357 · $196/mo
• Projected year-2 tax: $2,357 · $196/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 ≥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: $15,473
• − Mortgage interest: −$2,913
• − Property taxes: −$2,357
• − Insurance: −$260
• − Repairs & maintenance: −$1,238
• − Management: −$1,238
• − Depreciation: −$1,513
• Taxable income: $5,955
• Est. tax owed @ 24.0%: −$1,429
• After-tax cash flow: $4,905/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 · 437,818 people
• City population: 280,811
• Metro: Toledo, OH
• Population (ZIP): 5,039
• Household income: $21,405
• Rent vs Own: 70.9% rent · 29.1% own
• Severe rent burden: 2.1

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 0.60)
• Race & ethnicity: Black 51% White 36% Hispanic / Latino 9% Two or more races 7%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Romanian 4% Lithuanian 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Other Indo-European 1% Tagalog/Filipino 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: ▼ -63.87%
• Current HPI: 129.7922
• Rent YoY: —
• Metro: —
• 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

-25.7% since first listed

5 events — show timeline

• 2026-01-05 Price Changed $52,000 NORIS
• 2025-11-12 Price Changed $64,900 NORIS
• 2025-07-16 Price Changed $66,900 NORIS
• 2025-06-19 Listed $69,999 NORIS
• 2025-06-18 Coming Soon $69,999 NORIS

Property tax history

+8.2%/yr

Latest (2025): $2,357 · +5.0% YoY. Source: county tax records.