1608 Freedom St · Toledo, OH 43605

$39,900

2 bd · 1.0 ba · 1,016 sqft · SingleFamily public records · 7 Days on market

Built 1923 2,800 sqft lot

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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
• 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

Listing remarks MLS

Investment Property! Long term owner selling. Leased to long term tenant on month to month tenancy 9600 annual rent. Bid at Online Auction on our website. 10 % buyers premium.

Key facts

• 2,800 sq ft lot
• Garage
• Built 1923

Property features AI

Exterior

• Parking: Detached garage (1 garage space); Driveway parking; On-street parking; Private parking — total capacity for 4 vehicles
• Utilities: Cable available; Electricity connected; Natural gas connected; Public sewer; Public water; Fiber available
• Home design: Single-family house; Two levels / Two stories; Not attached to other structures; No common walls
• Construction: Shingle siding and other construction materials; Other foundation details; Built according to public records
• Exterior features: Shingle roof

Interior

• Kitchen: Main-level kitchen (approx. 10' x 10')
• Bedrooms: Upper-level bedrooms (one approx. 10' x 12', another approx. 16' x 12')
• Flooring: Wood and other flooring types
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Wall cooling unit(s)
• Interior features: Five total rooms; Unfinished basement; Other interior features
• Laundry & utility: Laundry located in the basement

🏷️ Possibly a rental listed for sale. The $39,900 price doesn't fit this home's estimated sale value (~$94,488) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $440 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($975 rent vs $40k).
• Cap rate 19.5% 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-, 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: East Broadway Elementary School (math 4% / reading 11%, grade F, #1,518 of 1,584 statewide, top 96%, 411 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; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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

• Local home prices are declining (-3.0%/yr); year-one equity from $276 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 $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 24y 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 $33k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,900

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.44% ✓
• Cap rate: 19.53%
• Cash-on-cash: 47.26%
• DSCR: 3.10
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $94,488
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1723 Liberty St	0.12mi	2/1.0	954 (-6%)	5mo	$68,999	$72	80
2011 Oakdale Ave	0.52mi	2/1.0	1,008 (-1%)	1mo	$170,000	$169	74
1462 Holmes St	0.26mi	3/1.0 (+1)	950 (-6%)	4mo	$128,000	$135	68
1434 Emerson St	0.21mi	3/1.0 (+1)	936 (-8%)	9mo	$85,000	$91	65
1213 Albert St	0.24mi	3/1.0 (+1)	933 (-8%)	7mo	$90,000	$96	64
1933 Watts Ave	0.41mi	3/1.0 (+1)	1,075 (+6%)	6mo	$176,500	$164	61
1110 Camden St	0.64mi	3/1.0 (+1)	982 (-3%)	6mo	$67,000	$68	55
1060 Patchen Rd	0.72mi	2/1.0	968 (-5%)	9mo	$32,000	$33	51
541 Oakdale Ave	0.74mi	2/1.5	936 (-8%)	3mo	$126,000	$135	48
852 Berry St	0.75mi	2/1.0	1,116 (+10%)	8mo	$20,900	$19	42
709 Sylvester Ave	0.74mi	3/1.0 (+1)	1,112 (+9%)	8mo	$103,000	$93	38
1915 Navarre Ave	0.68mi	2/1.0	872 (-14%)	10mo	$65,000	$75	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 · 5.37% rent growth · sell at horizon

5-year hold

• IRR: 47.6%
• Equity multiple: 3.15×
• Total profit: $23,986
• Equity at exit: $5,949

10-year hold

• IRR: 54.3%
• Equity multiple: 7.03×
• Total profit: $67,417
• Equity at exit: $3,450

Cash invested: $11,172 (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: 117
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $975 high
• Mortgage (P&I): −$209
• Tax from tax record: −$104 /mo · $1,249/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $440

Break-even live

Break-even rent $418

Max offer price $39,900

Occupancy floor 50%

Sensitivity live

Price	-10% $463	-5% $451	+0% $440	+5% $429	+10% $417
Rent	-10% $363	-5% $402	+0% $440	+5% $479	+10% $517
Rate	-1.0pp $460	-0.5pp $450	base $440	+0.5pp $430	+1.0pp $419

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1205 Liberty St Unit NA Toledo, OH	3.0	1.0	864	$1,195	$1.38	44d	1	0.26mi
1537 Carlyle St Toledo, OH	2.0	1.0	800	$800	$1.00	24d	1	0.31mi
1106 White St Toledo, OH	3.0	1.0	1200	$1,015	$0.85	14d	1	0.47mi
948 White St Toledo, OH	3.0	1.0	1024	$1,135	$1.11	14d	1	0.57mi
1505 Navarre Ave Toledo, OH	3.0	1.0	1331	$1,145	$0.86	44d	1	0.66mi
908 Forsythe St Unit Downstairs Toledo, OH	3.0	1.0	1164	$950	$0.82	44d	1	0.66mi
908 Forsythe St Unit Upstairs Toledo, OH	2.0	1.0	1164	$900	$0.77	14d	1	0.67mi
1411 Oakmont St Toledo, OH	1.0	1.0	750	$800	$1.07	14d	1	0.67mi
724 Plymouth St Toledo, OH	2.0	1.0	819	$750	$0.92	44d	1	0.75mi
724 Plymouth St Toledo, OH	1.0	1.0	850	$750	$0.88	14d	1	0.75mi
1537 Remington St Toledo, OH	3.0	1.0	1064	$1,095	$1.03	44d	1	0.77mi
912 Willow Ave Toledo, OH	1.0	1.0	900	$850	$0.94	44d	1	0.81mi
946 Butler St Toledo, OH	2.0	1.0	944	$650	$0.69	44d	1	0.82mi
1614 Nevada St Toledo, OH	2.0	1.0	1172	$1,000	$0.85	22d	1	0.88mi
732 Coyne Ave Toledo, OH	3.0	1.0	968	$1,145	$1.18	14d	1	0.91mi
722 Coyne Ave Toledo, OH	2.0	1.0	900	$1,000	$1.11	14d	1	0.92mi
571 Howland Ave Toledo, OH	2.0	1.0	874	$875	$1.00	44d	1	0.93mi
557 Valleywood Dr Toledo, OH	3.0	1.0	848	$1,100	$1.30	44d	1	0.94mi
2337 Burnside Ave Oregon, OH	2.0	1.0	1025	$1,150	$1.12	14d	1	0.94mi
1123 Nevada St Toledo, OH	2.0	1.0	792	$900	$1.14	14d	1	0.95mi
950 Oak St Unit 1 Toledo, OH	2.0	1.0	725	$700	$0.97	44d	1	0.98mi
2401 Burnside Ave Oregon, OH	2.0	1.0	1025	$1,150	$1.12	14d	1	0.98mi
508 Howland Ave Toledo, OH	3.0	1.0	840	$1,000	$1.19	44d	1	1.01mi
2129 Nevada St Toledo, OH	3.0	1.0	1352	$1,200	$0.89	14d	1	1.03mi
834 Oak St Toledo, OH	3.0	1.0	1064	$900	$0.85	44d	1	1.07mi
1311 Mason St Unit 2 Toledo, OH	1.0	1.0	950	$703	$0.74	14d	1	1.11mi
2074 Starr Ave Toledo, OH	3.0	1.0	1115	$1,025	$0.92	24d	1	1.21mi
1103 S Wheeling St Oregon, OH	2.0	1.0	825	$1,049	$1.27	44d	1	1.22mi
537 Potter St Toledo, OH	1.0	1.0	1000	$600	$0.60	44d	1	1.25mi
537 Potter St Toledo, OH	2.0	1.0	1200	$625	$0.52	24d	1	1.25mi
653 Oswald St Toledo, OH	2.0	1.0	920	$800	$0.87	44d	1	1.30mi
315 Parker Ave Unit 3 Toledo, OH	1.0	1.0	1029	$799	$0.78	24d	1	1.31mi
2750 Pickle Rd Oregon, OH	2.0	1.0	800	$1,434	$1.79	24d	1	1.34mi
2750 Pickle Rd Oregon, OH	2.0	1.0	800	$953	$1.19	14d	1	1.34mi
451 5th St Apt 1 Toledo, OH	1.0	1.0	850	$650	$0.76	44d	1	1.41mi
223 Valleywood Dr Toledo, OH	2.0	1.0	1098	$1,099	$1.00	24d	1	1.41mi
420 Platt St Toledo, OH	2.0	1.0	1499	$685	$0.46	22d	1	1.44mi
414 Platt St Unit ST-1 Toledo, OH	1.0	1.0	800	$800	$1.00	44d	1	1.45mi
414 Platt St Unit ST-3 Toledo, OH	3.0	1.0	1500	$1,150	$0.77	24d	1	1.45mi

Listing history 23 events

1. 2026-06-09
   status $39,900 Pending 7 DOM
2. 2026-06-08
   days on market $39,900 Active 7 DOM
3. 2026-06-07
   days on market $39,900 Active 6 DOM
4. 2026-06-05
   days on market $39,900 Active 3 DOM
5. 2026-06-03
   days on market $39,900 Active 2 DOM
6. 2026-06-02
   status $39,900 Active 1 DOM
7. 2026-06-01
   pricestatusdays on marketlisting id $39,900 Coming Soon 1 DOM
8. 2026-05-15
   status Pending 175-char remark

   Show marketing remark (175 chars)

   Investment Property! Long term owner selling. Leased to long term tenant on month to month tenancy 9600 annual rent. Bid at Online Auction on our website. 10 % buyers premium.

9. 2026-05-07
   listed Active 175-char remark

   Show marketing remark (175 chars)

   Investment Property! Long term owner selling. Leased to long term tenant on month to month tenancy 9600 annual rent. Bid at Online Auction on our website. 10 % buyers premium.

10. 2026-05-06
    historical 175-char remark

    Show marketing remark (175 chars)

    Investment Property! Long term owner selling. Leased to long term tenant on month to month tenancy 9600 annual rent. Bid at Online Auction on our website. 10 % buyers premium.

11. 2025-10-14
    price $15,000 224-char remark

    Show marketing remark (224 chars)

    Great Opportunity, put this one on your To-Do List.. All contracts and offers are subject to final review and approval of seller, all offers orcontracts are not binding unless the entire agreement is ratified by all parties.

12. 2025-10-09
    price $34,750
13. 2023-06-06
    soldstatus $15,000 Closed 224-char remark

    Show marketing remark (224 chars)

    Great Opportunity, put this one on your To-Do List.. All contracts and offers are subject to final review and approval of seller, all offers orcontracts are not binding unless the entire agreement is ratified by all parties.

14. 2023-05-15
    status Pending 224-char remark

    Show marketing remark (224 chars)

    Great Opportunity, put this one on your To-Do List.. All contracts and offers are subject to final review and approval of seller, all offers orcontracts are not binding unless the entire agreement is ratified by all parties.

15. 2023-05-05
    status Active 224-char remark

    Show marketing remark (224 chars)

    Great Opportunity, put this one on your To-Do List.. All contracts and offers are subject to final review and approval of seller, all offers orcontracts are not binding unless the entire agreement is ratified by all parties.

16. 2023-03-20
    status Pending 224-char remark

    Show marketing remark (224 chars)

    Great Opportunity, put this one on your To-Do List.. All contracts and offers are subject to final review and approval of seller, all offers orcontracts are not binding unless the entire agreement is ratified by all parties.

17. 2023-02-15
    price $19,900 224-char remark

    Show marketing remark (224 chars)

    Great Opportunity, put this one on your To-Do List.. All contracts and offers are subject to final review and approval of seller, all offers orcontracts are not binding unless the entire agreement is ratified by all parties.

18. 2023-01-18
    listed $29,900 Active 224-char remark

    Show marketing remark (224 chars)

    Great Opportunity, put this one on your To-Do List.. All contracts and offers are subject to final review and approval of seller, all offers orcontracts are not binding unless the entire agreement is ratified by all parties.

19. 2011-09-26
    historical
20. 2011-07-25
    listed $9,900
21. 2002-02-18
    soldstatus $34,750
22. 2002-01-05
    listed $36,500
23. 1994-05-13
    soldstatus $17,500

ⓘ 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: $1,249 · $104/mo
• Projected year-2 tax: $1,249 · $104/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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,696
• − Mortgage interest: −$2,235
• − Property taxes: −$1,249
• − Insurance: −$200
• − Repairs & maintenance: −$936
• − Management: −$936
• − Depreciation: −$1,161
• Taxable income: $4,980
• Est. tax owed @ 24.0%: −$1,195
• After-tax cash flow: $4,085/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

+88.6% since first listed

22 events — show timeline

• 2026-06-17 Sold (MLS) $33,000 NORIS
• 2026-06-09 Pending — NORIS
• 2026-06-01 Listed $39,900 NORIS
• 2026-06-01 Coming Soon $39,900 NORIS
• 2026-05-26 Sold (MLS) $35,000 NORIS
• 2026-05-15 Pending — NORIS
• 2026-05-07 Listed — NORIS
• 2026-05-06 Coming Soon $39,900 NORIS
• 2025-10-14 Price Changed $15,000 NORIS
• 2025-10-09 Price Changed $34,750 NORIS
• 2023-06-06 Sold (MLS) $15,000 NORIS
• 2023-05-15 Pending — NORIS
• 2023-05-05 Relisted — NORIS
• 2023-03-20 Pending — NORIS
• 2023-02-15 Price Changed $19,900 NORIS
• 2023-01-18 Listed $29,900 NORIS
• 2011-09-26 Listing Removed — NORIS
• 2011-07-25 Listed $9,900 NORIS
• 2002-02-18 Sold (MLS) $34,750 NORIS
• 2002-01-14 Price Changed $36,500 NORIS
• 2002-01-05 Listed $36,500 NORIS
• 1994-05-13 Sold (Public Records) $17,500 Public Records

Property tax history

+2.7%/yr

Latest (2025): $1,249 · +0.9% YoY. Source: county tax records.