219 Eastern Ave · Toledo, OH 43609

$49,900

5 bd · 2.0 ba · 2,206 sqft · MultiFamily public records · 128 Days on market

Built 1903 4,000 sqft lot Est $50k · at est.

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Why this score? — see what drove the D+ 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 +7.6/15.0
• Appreciation +5.4/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Investor opportunity in Toledo. Spacious two-family property with full basement and functional layout. Ideal for buy-and-rent or value-add strategies.

Key facts

• Full basement
• Functional layout
• Two-family property

Tags

• TWO-FAMILY PROPERTY
• FULL BASEMENT
• FUNCTIONAL LAYOUT

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $50k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $678/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 38.9% 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-, 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 (+7.8%/yr); 100 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 $2,156/mo this rent would consume 61% of the median local household income ($42k/yr) (locally 1603% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $719 of equity ($345 loan paydown + $374 appreciation (0.8% local appreciation)).
• Lucas County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.8% appreciation + 7.8% 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 128 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 27y ago; this cycle's ask is 7404% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $33k; list at $50k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 4.32% ✓
• Cap rate: 38.89%
• Cash-on-cash: 116.41%
• DSCR: 6.18
• GRM: 1.9

CMA / ARV

• ARV (median comp): $50,000
• List price: $49,900
• Delta: -0.20%
• Verdict: FAIR
• Comps: 17 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
702 Boalt St	0.56mi	4/2.0 (-1)	2,236 (+1%)	4mo	$50,000	$22	63
303 Jervis St	0.08mi	4/2.0 (-1)	2,424 (+10%)	17mo	$48,000	$20	61
225 Wasaon St	0.59mi	4/2.0 (-1)	2,024 (-8%)	1mo	$18,700	$9	53
821 Vinton Street St	0.47mi	4/2.0 (-1)	2,002 (-9%)	10mo	$52,000	$26	50

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.75% appreciation · 7.8% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.99×
• Total profit: $97,603
• Equity at exit: $16,387

10-year hold

• IRR: —
• Equity multiple: 19.21×
• Total profit: $254,397
• Equity at exit: $21,285

Cash invested: $13,972 (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 43609

• Home prices YoY: 0.3%
• Rents YoY: 7.8%
• Active inventory: 100
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $2,156 high
• Mortgage (P&I): −$262
• Tax from tax record: −$65 /mo · $784/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $1,355

Break-even live

Break-even rent $440

Max offer price $49,900

Occupancy floor 32%

Sensitivity live

Price	-10% $1,384	-5% $1,370	+0% $1,355	+5% $1,341	+10% $1,327
Rent	-10% $1,185	-5% $1,270	+0% $1,355	+5% $1,441	+10% $1,526
Rate	-1.0pp $1,381	-0.5pp $1,368	base $1,355	+0.5pp $1,342	+1.0pp $1,329

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,156
Total (2 units)			$2,156

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-21
   days on market $49,900 Active 128 DOM
2. 2026-06-18
   days on market $49,900 Active 125 DOM
3. 2026-06-17
   days on market $49,900 Active 124 DOM
4. 2026-06-16
   days on market $49,900 Active 123 DOM
5. 2026-06-15
   days on market $49,900 Active 122 DOM
6. 2026-06-14
   days on market $49,900 Active 120 DOM
7. 2026-06-10
   days on market $49,900 Active 117 DOM
8. 2026-06-09
   days on market $49,900 Active 116 DOM
9. 2026-06-08
   days on market $49,900 Active 115 DOM
10. 2026-06-07
    days on market $49,900 Active 114 DOM
11. 2026-06-05
    days on market $49,900 Active 111 DOM
12. 2026-06-03
    days on market $49,900 Active 110 DOM
13. 2026-06-02
    days on market $49,900 Active 109 DOM
14. 2026-06-01
    days on market $49,900 Active 108 DOM
15. 2026-05-31
    days on market $49,900 Active 107 DOM
16. 2026-05-30
    days on market $49,900 Active 106 DOM
17. 2026-04-07
    historical $665
18. 2026-03-07
    listed $665
19. 2026-03-03
    price $49,900 150-char remark

    Show marketing remark (150 chars)

    Investor opportunity in Toledo. Spacious two-family property with full basement and functional layout. Ideal for buy-and-rent or value-add strategies.

20. 2026-02-13
    listed $59,900 Active 150-char remark

    Show marketing remark (150 chars)

    Investor opportunity in Toledo. Spacious two-family property with full basement and functional layout. Ideal for buy-and-rent or value-add strategies.

21. 2026-01-25
    historical $949
22. 2026-01-20
    listed $949
23. 2026-01-15
    soldstatus $33,000
24. 2025-10-14
    price $26,000 258-char remark

    Show marketing remark (258 chars)

    NICE SIZE ROOMS-FIREPLACE IN BOTH LIVING ROOMS! FRESH PAINT AND NEW CARPET GOING INTO EACH UNIT. DUPLEX HAS SEPARATE UTILITIES PLUS A NEW ROOF (97). BOTH THE UPPER & LOWER UNITS WERE RENTING OUT FOR $340 EACH PER MONTH. IN- STANT CASH FLOW AT THIS PRICE!

25. 2018-10-25
    historical
26. 2016-11-02
    listed $9,000
27. 2012-06-04
    historical
28. 2007-12-04
    listed $39,000
29. 2000-02-14
    soldstatus $26,000
30. 2000-02-11
    soldstatus $26,000 258-char remark

    Show marketing remark (258 chars)

    NICE SIZE ROOMS-FIREPLACE IN BOTH LIVING ROOMS! FRESH PAINT AND NEW CARPET GOING INTO EACH UNIT. DUPLEX HAS SEPARATE UTILITIES PLUS A NEW ROOF (97). BOTH THE UPPER & LOWER UNITS WERE RENTING OUT FOR $340 EACH PER MONTH. IN- STANT CASH FLOW AT THIS PRICE!

31. 1999-12-14
    listed $26,900 258-char remark

    Show marketing remark (258 chars)

    NICE SIZE ROOMS-FIREPLACE IN BOTH LIVING ROOMS! FRESH PAINT AND NEW CARPET GOING INTO EACH UNIT. DUPLEX HAS SEPARATE UTILITIES PLUS A NEW ROOF (97). BOTH THE UPPER & LOWER UNITS WERE RENTING OUT FOR $340 EACH PER MONTH. IN- STANT CASH FLOW AT THIS PRICE!

32. 1992-05-08
    soldstatus $17,300
33. 1988-07-01
    soldstatus $21,000
34. 1987-03-03
    soldstatus $17,000

ⓘ 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: $784 · $65/mo
• Projected year-2 tax: $784 · $65/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: $25,872
• − Mortgage interest: −$2,795
• − Property taxes: −$784
• − Insurance: −$250
• − Repairs & maintenance: −$2,070
• − Management: −$2,070
• − Depreciation: −$1,452
• Taxable income: $16,452
• Est. tax owed @ 24.0%: −$3,948
• After-tax cash flow: $12,317/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): 21,404
• Household income: $42,313
• Rent vs Own: 55.7% rent · 44.3% own
• Severe rent burden: 1603.0

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 0.66)
• Race & ethnicity: White 47% Black 29% Hispanic / Latino 17% Two or more races 9%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Arabic 1% French/Haitian/Cajun 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: ▲ 0.75%
• Current HPI: 235.2515
• Rent YoY: ▲ 7.80%
• 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

+193.5% since first listed

18 events — show timeline

• 2026-04-07 Rental Removed $665 TURBOTENANT
• 2026-03-07 Listed for Rent $665 TURBOTENANT
• 2026-03-03 Price Changed $49,900 NORIS
• 2026-02-13 Listed $59,900 NORIS
• 2026-01-25 Rental Removed $949 REDFIN
• 2026-01-20 Listed for Rent $949 REDFIN
• 2026-01-15 Sold (Public Records) $33,000 Public Records
• 2025-10-14 Price Changed $26,000 NORIS
• 2018-10-25 Listing Removed — NORIS
• 2016-11-02 Listed $9,000 NORIS
• 2012-06-04 Listing Removed — NORIS
• 2007-12-04 Listed $39,000 NORIS
• 2000-02-14 Sold (Public Records) $26,000 Public Records
• 2000-02-11 Sold (MLS) $26,000 NORIS
• 1999-12-14 Listed $26,900 NORIS
• 1992-05-08 Sold (Public Records) $17,300 Public Records
• 1988-07-01 Sold (Public Records) $21,000 Public Records
• 1987-03-03 Sold (Public Records) $17,000 Public Records

Property tax history

+1.3%/yr

Latest (2025): $784 · +1.9% YoY. Source: county tax records.