325 Whittemore St · Toledo, OH 43605

$89,900

4 bd · 2.5 ba · 2,376 sqft · MultiFamily public records · 22 Days on market

Built 1887 $38/sqft · 9% above area Est $82k · 10% over

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Why this score? — see what drove the C+ 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
• Rent growth +3.8/5.0
• Livability +3.3/5.0
• ARV discount +3.0/15.0
• 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

Duplex opportunity offering 4 total bedrooms and 2 bathrooms across two units, situated on two parcels for added value and flexibility. The property includes a detached 2-car garage featuring new doors. One unit is in solid condition and only requires cosmetic updates, making it ideal for a quick turnaround or rental, while the second unit has been fully gutted and is ready for a complete renovation. Perfect for investors looking to add value and maximize returns with a mix of light rehab and full renovation potential. Property is being sold exclusively as-is.

Key facts

• Two parcels
• 2 garage spots
• Built 1887

Tags

• DETACHED 2-CAR GARAGE
• TWO PARCELS

Property features AI

Finance

• Financial info: Two-unit property with one unit vacant and one leased; Tenant and owner responsibilities: Other
• HOA & community: Curbs; Street lights; Sidewalks

Exterior

• Parking: Detached garage (2 spaces); Driveway; Gravel parking; 2 total parking spaces
• Security: Closed-circuit cameras
• Utilities: Public water; Public sewer; Utilities: Other
• Home design: Residential income duplex; Two-story; Two total stories
• Construction: Vinyl siding; Concrete full basement; Roof: Other; Foundation: Other; Built as a duplex
• Exterior features: Private yard; Corner lot; City street frontage; Additional parcel included

Interior

• Kitchen: No appliances included
• Flooring: Carpet; Hardwood
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Other interior features
• Laundry & utility: Washer hookup in basement; Gas dryer hookup in basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $542/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 20.8% vs local median 7.5% 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: Birmingham Elementary School (math 8% / reading 12%, grade F, #1,471 of 1,584 statewide, top 95%, 299 students, 0% FRL); Waite High School (math 12% / reading 24%, grade F, #687 of 781 statewide, top 88%, 997 students, 0% FRL) — zoned schools average 0% FRL vs 72% district-wide (72 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+5.4%/yr); 119 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $2,171/mo this rent would consume 67% of the median local household income ($39k/yr) (locally 1257% 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 $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 + 5.4% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $77k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1887 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,551 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1887 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 2.41% ✓
• Cap rate: 20.75%
• Cash-on-cash: 51.63%
• DSCR: 3.30
• GRM: 3.5

CMA / ARV

• ARV (median comp): $81,763
• List price: $89,900
• Delta: 9.95%
• Verdict: FAIR
• Comps: 8 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.37% rent growth · sell at horizon

5-year hold

• IRR: 52.2%
• Equity multiple: 3.37×
• Total profit: $59,756
• Equity at exit: $13,404

10-year hold

• IRR: 58.5%
• Equity multiple: 7.51×
• Total profit: $163,850
• 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 43605

• Home prices YoY: -25.6%
• Rents YoY: 5.4%
• Active inventory: 119
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,171 high
• Mortgage (P&I): −$471
• Tax from tax record: −$123 /mo · $1,477/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $1,083

Break-even live

Break-even rent $800

Max offer price $89,900

Occupancy floor 45%

Sensitivity live

Price	-10% $1,134	-5% $1,109	+0% $1,083	+5% $1,058	+10% $1,032
Rent	-10% $912	-5% $997	+0% $1,083	+5% $1,169	+10% $1,255
Rate	-1.0pp $1,128	-0.5pp $1,106	base $1,083	+0.5pp $1,060	+1.0pp $1,036

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,170
Total (2 units)			$2,171

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 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
601 Chicago St Toledo, OH	3.0	2.0	1924	$1,300	$0.68	24d	1	1.04mi
1536 N Erie St Toledo, OH	4.0	1.0	1600	$1,300	$0.81	44d	1	1.13mi
245 Plymouth St Toledo, OH	3.0	1.0	1600	$1,125	$0.70	15d	1	1.26mi

Listing history 12 events

1. 2026-06-07
   statusdays on market $89,900 Pending 22 DOM
2. 2026-06-05
   days on market $89,900 Active 21 DOM
3. 2026-06-03
   days on market $89,900 Active 20 DOM
4. 2026-06-02
   days on market $89,900 Active 19 DOM
5. 2026-06-01
   days on market $89,900 Active 18 DOM
6. 2026-05-31
   days on market $89,900 Active 17 DOM
7. 2026-05-30
   days on market $89,900 Active 16 DOM
8. 2026-05-14
   listed $94,500 Active 566-char remark
9. 2026-05-05
   historical
10. 2025-09-25
    listed $80,000 Active
11. 2019-08-12
    soldstatus $2,500
12. 2004-08-05
    soldstatus $2,500

ⓘ 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: $1,477 · $123/mo
• Projected year-2 tax: $1,477 · $123/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 ≥100°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: $26,052
• − Mortgage interest: −$5,036
• − Property taxes: −$1,477
• − Insurance: −$450
• − Repairs & maintenance: −$2,084
• − Management: −$2,084
• − Depreciation: −$2,615
• Taxable income: $12,306
• Est. tax owed @ 24.0%: −$2,954
• After-tax cash flow: $10,044/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): 24,441
• Household income: $39,118
• Rent vs Own: 51.9% rent · 48.1% own
• Severe rent burden: 1257.0

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 0.61)
• Race & ethnicity: White 57% Hispanic / Latino 21% Black 14% Two or more races 14%
• Hispanic origin (detail): Mexican 17% Puerto Rican 2%
• Common ancestry: Romanian 3% Lithuanian 2% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 91% English-only · Spanish 7% Arabic 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: ▼ -47.85%
• Current HPI: 138.6894
• Rent YoY: ▲ 5.37%
• 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

+2980.0% since first listed

8 events — show timeline

• 2026-06-12 Sold (MLS) $77,000 NORIS
• 2026-06-05 Pending — NORIS
• 2026-05-27 Price Changed $89,900 NORIS
• 2026-05-14 Listed $94,500 NORIS
• 2026-05-05 Listing Removed — NORIS
• 2025-09-25 Listed $80,000 NORIS
• 2019-08-12 Sold (Public Records) $2,500 Public Records
• 2004-08-05 Sold (Public Records) $2,500 Public Records

Property tax history

+3.0%/yr

Latest (2025): $1,477 · +43.3% YoY. Source: county tax records.