1539 Mott Ave · Toledo, OH 43605

$49,000

8 bd · 2.0 ba · 2,432 sqft · MultiFamily public records · 21 Days on market

Built 1912 3,200 sqft lot Est $79k · 38% under

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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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.8/5.0
• 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 MLS

Excellent Investment Opportunity! Well maintained duplex with great cash flow. Many updates. Seperate gas & electric. Each unit contains 2 beds 1 bath. Also has a garage & off street parking. Both units are rented and priced to sell.

Key facts

• 3,200 sq ft lot
• Garage
• Built 1912

Property features AI

Finance

• Other:
• Financial info: Property is a 2-unit residential income property with both units leased; Tenants pay electricity, gas, and water; Owner pays exterior maintenance and insurance
• HOA & community:

Exterior

• Parking: Has garage (1.5 spaces); Off-street parking; Additional garage(s) structure
• Security:
• Utilities: Cable connected; Electricity connected; Natural gas connected; Public water; Public sewer
• Home design: Residential income duplex; Two-story; Two levels; Single building
• Construction: Vinyl siding; Block foundation; Block basement
• Exterior features: Shingle roof; Split rail fencing; Corner lot; City street frontage; Asphalt road

Interior

• Kitchen: Refrigerator
• Bedrooms:
• Flooring: Carpet
• Bathrooms:
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Other interior features; Double pane windows; Block basement
• Laundry & utility: Washer hookup in unit; Gas dryer hookup; 150 Amp electrical service

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $49k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $644/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $49k).
• Recommended offer: $48k (1.5% below list) — sets the bar for market timing.
• Cap rate 37.8% 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-, 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: Garfield Elementary School (math 7% / reading 14%, grade F, #1,461 of 1,584 statewide, top 92%, 387 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); 117 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 $2,164/mo this rent would consume 66% 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 $339 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 22y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,265 (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 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 4.42% ✓
• Cap rate: 37.82%
• Cash-on-cash: 112.60%
• DSCR: 6.01
• GRM: 1.9

CMA / ARV

• ARV (median comp): $79,192
• List price: $49,000
• Delta: -38.12%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 6.79×
• Total profit: $79,418
• Equity at exit: $7,306

10-year hold

• IRR: —
• Equity multiple: 15.42×
• Total profit: $197,828
• Equity at exit: $4,237

Cash invested: $13,720 (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: 117
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,164 high
• Mortgage (P&I): −$257
• Tax from tax record: −$145 /mo · $1,738/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$454
• Net cashflow: $1,287

Break-even live

Break-even rent $534

Max offer price $49,000

Occupancy floor 36%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,164
Total (2 units)			$2,164

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-05-18
   status Pending 545-char remark
2. 2026-04-27
   listed $49,000 Active 545-char remark
3. 2026-04-23
   historical $49,000 545-char remark
4. 2025-12-19
   historical
5. 2025-11-24
   price $69,000
6. 2025-10-14
   price $67,000

   Show marketing remark (241 chars)

   Excellent Investment Opportunity! Well maintained duplex with great cash flow. Many updates. Seperate gas & electric. Each unit contains 2 beds 1 bath. Also has a garage & off street parking. Both units are rented and priced to sell.

7. 2025-10-14
   price $20,000

   Show marketing remark (241 chars)

   Excellent Investment Opportunity! Well maintained duplex with great cash flow. Many updates. Seperate gas & electric. Each unit contains 2 beds 1 bath. Also has a garage & off street parking. Both units are rented and priced to sell.

8. 2025-10-07
   listed $79,900 Active
9. 2024-10-25
   historical
10. 2024-09-26
    listed $79,900 Active
11. 2024-09-25
    historical
12. 2024-08-15
    listed $79,900 Active
13. 2020-08-18
    soldstatus $20,000
14. 2020-08-03
    soldstatus $20,000
15. 2019-12-20
    listed $29,000
16. 2005-06-30
    soldstatus $67,000
17. 2005-06-28
    soldstatus $67,000

    Show marketing remark (241 chars)

    Excellent Investment Opportunity! Well maintained duplex with great cash flow. Many updates. Seperate gas & electric. Each unit contains 2 beds 1 bath. Also has a garage & off street parking. Both units are rented and priced to sell.

18. 2005-06-07
    listed $69,900

    Show marketing remark (241 chars)

    Excellent Investment Opportunity! Well maintained duplex with great cash flow. Many updates. Seperate gas & electric. Each unit contains 2 beds 1 bath. Also has a garage & off street parking. Both units are rented and priced to sell.

19. 2005-05-15
    historical
20. 2004-11-15
    listed $69,900
21. 1995-08-15
    soldstatus $15,000

ⓘ 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: $1,738 · $145/mo
• Projected year-2 tax: $1,738 · $145/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 3/10 Moderate FEMA zone X (unshaded) · 10% 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: $25,968
• − Mortgage interest: −$2,745
• − Property taxes: −$1,738
• − Insurance: −$245
• − Repairs & maintenance: −$2,077
• − Management: −$2,077
• − Depreciation: −$1,425
• Taxable income: $15,660
• Est. tax owed @ 24.0%: −$3,758
• After-tax cash flow: $11,690/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

+265.9% since first listed

22 events — show timeline

• 2026-06-02 Sold (MLS) $54,890 NORIS
• 2026-05-18 Pending — NORIS
• 2026-04-27 Listed $49,000 NORIS
• 2026-04-23 Coming Soon $49,000 NORIS
• 2025-12-19 Listing Removed — NORIS
• 2025-11-24 Price Changed $69,000 NORIS
• 2025-10-14 Price Changed $67,000 NORIS
• 2025-10-14 Price Changed $20,000 NORIS
• 2025-10-07 Listed $79,900 NORIS
• 2024-10-25 Listing Removed — NORIS
• 2024-09-26 Listed $79,900 NORIS
• 2024-09-25 Listing Removed — NORIS
• 2024-08-15 Listed $79,900 NORIS
• 2020-08-18 Sold (Public Records) $20,000 Public Records
• 2020-08-03 Sold (MLS) $20,000 NORIS
• 2019-12-20 Listed $29,000 NORIS
• 2005-06-30 Sold (Public Records) $67,000 Public Records
• 2005-06-28 Sold (MLS) $67,000 NORIS
• 2005-06-07 Listed $69,900 NORIS
• 2005-05-15 Listing Removed — NORIS
• 2004-11-15 Listed $69,900 NORIS
• 1995-08-15 Sold (Public Records) $15,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $1,738 · -7.4% YoY. Source: county tax records.