1508 Albert St · Toledo, OH 43605

$70,000

3 bd · 1.0 ba · 1,125 sqft · SingleFamily public records · 119 Days on market

Built 1909 3,999 sqft lot $62/sqft · 8% below area Est $76k · 8% under

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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
• ARV discount +11.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Listing remarks MLS

NOTICE: We are not considering seller financing or creative financing offers that do not consist of us in recorded first lien position with a minimum of 30% down. Nice, bright 3 bed home. Great for owner occupant or investor. Previously rented for $1,015. Market rent is $1,100. Listing agent is also the owner.

Key facts

• 3,999 sq ft lot
• Built 1909
• Listed 119 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $364 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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: Rents rising fast (+5.4%/yr); 117 active listings in the ZIP; 34 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).
• This rent runs 33% of the median local income ($39k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 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 + 5.4% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 5y ago; this cycle's ask is 6935% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $38k; list at $70k implies a 84% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,700 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1909 — 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: 1.55% ✓
• Cap rate: 12.53%
• Cash-on-cash: 22.27%
• DSCR: 1.99
• GRM: 5.4

CMA / ARV

• ARV (median comp): $75,847
• List price: $70,000
• Delta: -7.71%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1122 Vinal St	0.22mi	4/1.0 (+1)	1,180 (+5%)	1mo	$123,400	$105	76
1933 Watts Ave	0.45mi	3/1.0	1,075 (-4%)	6mo	$176,500	$164	67
709 Sylvester Ave	0.66mi	3/1.0	1,112 (-1%)	8mo	$103,000	$93	61
1127 Varland Ave	0.39mi	2/1.0 (-1)	1,227 (+9%)	5mo	$28,050	$23	58
1308 Halstead St	0.49mi	3/1.0	1,246 (+11%)	6mo	$40,050	$32	54
2011 Oakdale Ave	0.56mi	2/1.0 (-1)	1,008 (-10%)	1mo	$170,000	$169	51
1204 Navarre Ave	0.68mi	4/1.0 (+1)	1,171 (+4%)	7mo	$95,000	$81	50
1129 Camden St	0.66mi	3/1.0	1,260 (+12%)	4mo	$55,000	$44	46
937 Berry St	0.62mi	3/1.0	1,282 (+14%)	3mo	$63,000	$49	46
1110 Camden St	0.64mi	3/1.0	982 (-13%)	6mo	$67,000	$68	44
1525 Akron St	0.75mi	3/1.0	999 (-11%)	8mo	$93,500	$94	40
1813 Milroy St	0.69mi	2/1.0 (-1)	960 (-15%)	4mo	$60,480	$63	35

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: 17.8%
• Equity multiple: 1.74×
• Total profit: $14,504
• Equity at exit: $10,437

10-year hold

• IRR: 27.9%
• Equity multiple: 3.75×
• Total profit: $53,984
• Equity at exit: $6,052

Cash invested: $19,600 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,086 high
• Mortgage (P&I): −$367
• Tax from tax record: −$98 /mo · $1,178/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $364

Break-even live

Break-even rent $626

Max offer price $70,000

Occupancy floor 62%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 34 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	43d	1	0.22mi
1537 Carlyle St Toledo, OH	2.0	1.0	800	$800	$1.00	23d	1	0.30mi
1106 White St Toledo, OH	3.0	1.0	1200	$1,015	$0.85	14d	1	0.46mi
948 White St Toledo, OH	3.0	1.0	1024	$1,135	$1.11	14d	1	0.56mi
908 Forsythe St Unit Downstairs Toledo, OH	3.0	1.0	1164	$950	$0.82	43d	1	0.63mi
908 Forsythe St Unit Upstairs Toledo, OH	2.0	1.0	1164	$900	$0.77	14d	1	0.63mi
921 Berry St Toledo, OH	4.0	1.0	1204	$1,350	$1.12	14d	1	0.63mi
1505 Navarre Ave Toledo, OH	3.0	1.0	1331	$1,145	$0.86	43d	1	0.66mi
1537 Remington St Toledo, OH	3.0	1.0	1064	$1,095	$1.03	43d	1	0.73mi
724 Plymouth St Toledo, OH	2.0	1.0	819	$750	$0.92	43d	1	0.74mi
946 Butler St Toledo, OH	2.0	1.0	944	$650	$0.69	43d	1	0.78mi
1614 Nevada St Toledo, OH	2.0	1.0	1172	$1,000	$0.85	21d	1	0.89mi
950 Oak St Unit 1 Toledo, OH	2.0	1.0	725	$700	$0.97	43d	1	0.93mi
1123 Nevada St Toledo, OH	2.0	1.0	792	$900	$1.14	14d	1	0.94mi
732 Coyne Ave Toledo, OH	3.0	1.0	968	$1,145	$1.18	14d	1	0.94mi
557 Valleywood Dr Toledo, OH	3.0	1.0	848	$1,100	$1.30	43d	1	0.94mi
571 Howland Ave Toledo, OH	2.0	1.0	874	$875	$1.00	43d	1	0.94mi
722 Coyne Ave Toledo, OH	2.0	1.0	900	$1,000	$1.11	14d	1	0.96mi
2337 Burnside Ave Oregon, OH	2.0	1.0	1025	$1,150	$1.12	14d	1	0.99mi
508 Howland Ave Toledo, OH	3.0	1.0	840	$1,000	$1.19	43d	1	1.02mi
834 Oak St Toledo, OH	3.0	1.0	1064	$900	$0.85	43d	1	1.02mi
2401 Burnside Ave Oregon, OH	2.0	1.0	1025	$1,150	$1.12	14d	1	1.03mi
2129 Nevada St Toledo, OH	3.0	1.0	1352	$1,200	$0.89	14d	1	1.06mi
537 Potter St Toledo, OH	2.0	1.0	1200	$625	$0.52	23d	1	1.21mi
29 Garfield Pl Toledo, OH	4.0	2.0	1300	$1,250	$0.96	14d	1	1.22mi
2074 Starr Ave Toledo, OH	3.0	1.0	1115	$1,025	$0.92	23d	1	1.23mi
1103 S Wheeling St Oregon, OH	2.0	1.0	825	$1,049	$1.27	43d	1	1.27mi
653 Oswald St Toledo, OH	2.0	1.0	920	$800	$0.87	43d	1	1.28mi
2750 Pickle Rd Oregon, OH	2.0	1.0	800	$953	$1.19	14d	1	1.39mi
2750 Pickle Rd Oregon, OH	2.0	1.0	800	$1,434	$1.79	23d	1	1.39mi
223 Valleywood Dr Toledo, OH	2.0	1.0	1098	$1,099	$1.00	23d	1	1.41mi
420 Platt St Toledo, OH	2.0	1.0	1499	$685	$0.46	21d	1	1.42mi
414 Platt St Unit ST-3 Toledo, OH	3.0	1.0	1500	$1,150	$0.77	23d	1	1.43mi
20 Greenwood Ave Toledo, OH	3.0	1.0	1496	$1,150	$0.77	14d	1	1.49mi

Listing history 41 events

1. 2026-06-18
   days on market $70,000 Active 119 DOM
2. 2026-06-17
   days on market $70,000 Active 118 DOM
3. 2026-06-16
   days on market $70,000 Active 117 DOM
4. 2026-06-15
   days on market $70,000 Active 116 DOM
5. 2026-06-14
   days on market $70,000 Active 114 DOM
6. 2026-06-10
   days on market $70,000 Active 111 DOM
7. 2026-06-09
   days on market $70,000 Active 110 DOM
8. 2026-06-08
   days on market $70,000 Active 109 DOM
9. 2026-06-07
   days on market $70,000 Active 108 DOM
10. 2026-06-05
    days on market $70,000 Active 105 DOM
11. 2026-06-03
    days on market $70,000 Active 104 DOM
12. 2026-06-02
    days on market $70,000 Active 103 DOM
13. 2026-06-01
    days on market $70,000 Active 102 DOM
14. 2026-05-31
    days on market $70,000 Active 101 DOM
15. 2026-05-30
    days on market $70,000 Active 100 DOM
16. 2026-05-18
    historical $895
17. 2026-05-09
    price $86,000 318-char remark

    Show marketing remark (318 chars)

    NOTICE: We are not considering seller financing or creative financing offers that do not consist of us in recorded first lien position with a minimum of 30% down. Nice, bright 3 bed home. Great for owner occupant or investor. Previously rented for $1,015. Market rent is $1,100. Listing agent is also the owner.

18. 2026-05-02
    price $895
19. 2026-03-18
    listed $995
20. 2026-02-21
    historical $995
21. 2026-02-18
    listed $95,690 Active 318-char remark

    Show marketing remark (318 chars)

    NOTICE: We are not considering seller financing or creative financing offers that do not consist of us in recorded first lien position with a minimum of 30% down. Nice, bright 3 bed home. Great for owner occupant or investor. Previously rented for $1,015. Market rent is $1,100. Listing agent is also the owner.

22. 2026-02-06
    price $995
23. 2026-01-31
    price $1,045
24. 2026-01-13
    historical
25. 2025-11-22
    listed $1,095
26. 2025-11-10
    price $95,690
27. 2025-10-14
    price $38,000
28. 2025-10-03
    price $98,500
29. 2025-09-24
    listed $86,500 Active
30. 2023-01-28
    status Pending
31. 2023-01-27
    soldstatus $38,000 Closed
32. 2022-12-28
    historical Contingent
33. 2022-12-15
    status Active
34. 2022-11-09
    historical Contingent
35. 2022-11-03
    status Active
36. 2022-08-29
    historical Contingent
37. 2022-08-18
    listed $44,900 Active
38. 2022-07-29
    historical
39. 2021-08-18
    historical Contingent
40. 2021-07-28
    listed $44,900 Active
41. 1992-10-30
    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: $1,178 · $98/mo
• Projected year-2 tax: $1,178 · $98/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: $13,037
• − Mortgage interest: −$3,921
• − Property taxes: −$1,178
• − Insurance: −$350
• − Repairs & maintenance: −$1,043
• − Management: −$1,043
• − Depreciation: −$2,036
• Taxable income: $3,465
• Est. tax owed @ 24.0%: −$832
• After-tax cash flow: $3,534/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

+473.3% since first listed

26 events — show timeline

• 2026-05-18 Rental Removed $895 TENANTTURNER2
• 2026-05-09 Price Changed $86,000 NORIS
• 2026-05-02 Price Changed $895 TENANTTURNER2
• 2026-03-18 Listed for Rent $995 TENANTTURNER2
• 2026-02-21 Rental Removed $995 TENANTTURNER2
• 2026-02-18 Listed $95,690 NORIS
• 2026-02-06 Price Changed $995 TENANTTURNER2
• 2026-01-31 Price Changed $1,045 TENANTTURNER2
• 2026-01-13 Listing Removed — NORIS
• 2025-11-22 Listed for Rent $1,095 TENANTTURNER2
• 2025-11-10 Price Changed $95,690 NORIS
• 2025-10-14 Price Changed $38,000 NORIS
• 2025-10-03 Price Changed $98,500 NORIS
• 2025-09-24 Listed $86,500 NORIS
• 2023-01-28 Pending — NORIS
• 2023-01-27 Sold (MLS) $38,000 NORIS
• 2022-12-28 Contingent — NORIS
• 2022-12-15 Relisted — NORIS
• 2022-11-09 Contingent — NORIS
• 2022-11-03 Relisted — NORIS
• 2022-08-29 Contingent — NORIS
• 2022-08-18 Listed $44,900 NORIS
• 2022-07-29 Listing Removed — NORIS
• 2021-08-18 Contingent — NORIS
• 2021-07-28 Listed $44,900 NORIS
• 1992-10-30 Sold (Public Records) $15,000 Public Records

Property tax history

+8.9%/yr

Latest (2025): $1,178 · +16.2% YoY. Source: county tax records.