2331 Berdan Ave · Toledo, OH 43613

$109,000

3 bd · 1.0 ba · 1,404 sqft · SingleFamily public records · 31 Days on market

Built 1923 4,901 sqft lot $78/sqft · 30% below area Est $155k · 30% 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 +26.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.1/10.0
• 1% rule +7.0/10.0
• Rent growth +3.3/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Good opporunity for owner occupid or rental property - needs some work. Build equity.

Key facts

• 4,901 sq ft lot
• 2 garage spots
• Built 1923

Property features AI

Exterior

• Parking: Detached 2-car garage on a concrete drive
• Utilities: Cable, electricity, natural gas, water connected; Public water; Sanitary sewer; 100 amp electric service; WiFi available
• Home design: Single-family house; Two levels / 2 stories; Not attached to other structures; Located in the Deveaux Park subdivision
• Construction: Aluminum siding and frame construction; Block foundation; Shingle roof; Built as a residential single-family home
• Exterior features: Deck; City street frontage with asphalt road

Interior

• Kitchen: Refrigerator; Breakfast room off the kitchen
• Bedrooms: Bedrooms located on the upper level (includes two bedrooms listed as Bedroom 2 and Bedroom 3)
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fans for cooling
• Interior features: Ceiling fan(s); Storm windows and screens; Storm door(s) and door screen(s); 1 fireplace in the living room; 7 total rooms
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $289 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).
• Recommended offer: $106k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 7.6% in Toledo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Longfellow Elementary School (math 12% / reading 19%, grade F, #1,375 of 1,584 statewide, top 87%, 533 students, 0% FRL); Start High School (math 11% / reading 33%, grade F, #672 of 781 statewide, top 86%, 1,242 students, 50% FRL) — zoned schools average 25% FRL vs 72% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.3%/yr); 111 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $754 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 + 3.3% rent growth), your $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y 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 $32k; list at $109k implies a 241% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,730 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.20% ✓
• Cap rate: 9.48%
• Cash-on-cash: 11.37%
• DSCR: 1.51
• GRM: 6.9

CMA / ARV

• ARV (median comp): $154,662
• List price: $109,000
• Delta: -29.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2340 Georgetown Ave	0.08mi	3/1.5	1,386 (-1%)	2mo	$160,000	$115	90
3818 Sherbrooke Rd	0.28mi	3/1.0	1,409 (+0%)	1mo	$180,704	$128	86
2534 Beaufort Ave	0.25mi	3/2.0	1,496 (+7%)	2mo	$200,000	$134	72
3725 Kershaw Ave	0.10mi	3/1.5	1,225 (-13%)	1mo	$145,000	$118	71
3664 Sherbrooke Rd	0.24mi	3/1.0	1,255 (-11%)	0mo	$149,000	$119	71
2239 Eastbrook Dr	0.32mi	3/1.0	1,238 (-12%)	2mo	$156,000	$126	64
3424 Saint Bernard Dr	0.44mi	3/1.5	1,281 (-9%)	1mo	$154,400	$121	62
3509 Rushland Ave	0.50mi	3/2.0	1,286 (-8%)	1mo	$200,000	$156	58
3848 Drummond Rd	0.74mi	3/1.0	1,324 (-6%)	2mo	$174,900	$132	55
2044 Brussels St	0.37mi	2/1.0 (-1)	1,200 (-14%)	2mo	$59,900	$50	52
3906 Garrison Rd	0.64mi	3/2.0	1,539 (+10%)	2mo	$210,000	$136	49
3723 Grantley Rd	0.60mi	3/2.0	1,254 (-11%)	2mo	$222,300	$177	48

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 · 3.3% rent growth · sell at horizon

5-year hold

• IRR: 1.0%
• Equity multiple: 1.04×
• Total profit: $1,164
• Equity at exit: $16,252

10-year hold

• IRR: 10.9%
• Equity multiple: 1.87×
• Total profit: $26,430
• Equity at exit: $9,424

Cash invested: $30,520 (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 43613

• Home prices YoY: -20.7%
• Rents YoY: 3.3%
• Active inventory: 111
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,312 high
• Mortgage (P&I): −$572
• Tax from tax record: −$131 /mo · $1,566/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $289

Break-even live

Break-even rent $946

Max offer price $109,000

Occupancy floor 73%

Sensitivity live

Price	-10% $351	-5% $320	+0% $289	+5% $258	+10% $227
Rent	-10% $185	-5% $237	+0% $289	+5% $341	+10% $393
Rate	-1.0pp $344	-0.5pp $317	base $289	+0.5pp $261	+1.0pp $232

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2301 Portsmouth Ave Toledo, OH	4.0	1.0	1335	$1,395	$1.04	24d	1	0.11mi
3644 Harley Rd Toledo, OH	2.0	1.0	1025	$975	$0.95	24d	1	0.29mi
3716 Rushland Ave Unit NA Toledo, OH	3.0	1.5	1559	$1,650	$1.06	15d	1	0.38mi
3430 Anderson Pkwy Toledo, OH	3.0	2.0	1372	$1,650	$1.20	24d	1	0.43mi
3683 Upton Ave Toledo, OH	3.0	1.0	1119	$1,100	$0.98	44d	1	0.56mi
1846 Loxley Rd Toledo, OH	2.0	1.0	876	$900	$1.03	44d	1	0.61mi
3948 Grantley Rd Toledo, OH	4.0	1.5	1600	$1,500	$0.94	24d	1	0.62mi
4030 Elmhurst Rd Apt 2 Toledo, OH	2.0	1.0	875	$900	$1.03	44d	1	0.76mi
1731 Mansfield Rd Toledo, OH	3.0	1.0	1138	$1,195	$1.05	24d	1	0.77mi
1838 Giant St Toledo, OH	3.0	1.0	962	$1,200	$1.25	15d	1	0.88mi
4315 Garden Park Dr Toledo, OH	3.0	1.0	1268	$1,423	$1.12	24d	1	0.90mi
1804 Bigelow St Toledo, OH	3.0	1.0	995	$937	$0.94	44d	1	0.97mi
3121 Cheltenham Rd Toledo, OH	4.0	2.0	1691	$1,800	$1.06	44d	1	1.00mi
1718 Giant St Toledo, OH	3.0	1.0	1080	$1,395	$1.29	15d	1	1.00mi
3070 Carskaddon Ave Toledo, OH	1.0–2.0	1.0	805	$1,150	$1.43	15d	1	1.00mi
2734 Powhattan Pkwy Toledo, OH	2.0	1.0	1144	$900	$0.79	44d	1	1.04mi
3835 Monroe St Toledo, OH	2.0	1.0	1002	$950	$0.95	44d	1	1.06mi
1489 Berdan Ave Toledo, OH	3.0	1.0	1068	$1,250	$1.17	44d	1	1.07mi
4038 Lyman Ave Toledo, OH	3.0	1.0	1175	$1,395	$1.19	44d	1	1.10mi
3803 Monroe St Toledo, OH	2.0	1.0	942	$850	$0.90	44d	1	1.13mi
1477 W Sylvania Ave Toledo, OH	3.0	1.0	1570	$1,250	$0.80	44d	1	1.13mi
2956 Central Ave Toledo, OH	2.0	2.0	1018	$1,495	$1.47	24d	1	1.14mi
2956 Central Ave Toledo, OH	2.0	1.0	999	$1,445	$1.45	44d	1	1.14mi
2650 Christie St Toledo, OH	1.0–2.0	1.0	800	$849	$1.06	44d	1	1.14mi
4120 Parrakeet Ave Toledo, OH	3.0	2.0	1410	$1,450	$1.03	44d	1	1.20mi
2632 Algonquin Pkwy Toledo, OH	3.0	1.5	1568	$800	$0.51	24d	1	1.21mi
3606 Revere Dr Toledo, OH	4.0	1.0	1320	$1,500	$1.14	44d	1	1.23mi
1573 Jermain Dr Toledo, OH	3.0	1.0	1254	$1,195	$0.95	15d	1	1.24mi
3713 Hazelhurst Ave Toledo, OH	3.0	1.5	1352	$1,700	$1.26	44d	1	1.26mi
2704 Kenwood Blvd Toledo, OH	1.0–3.0	1.0	825	$1,488	$1.80	15d	71	1.30mi
4223 Birchall Rd Toledo, OH	3.0	1.0	1338	$1,395	$1.04	24d	1	1.31mi
3805 Hoiles Ave Toledo, OH	3.0	1.0	1370	$1,025	$0.75	24d	1	1.32mi
3725 Hoiles Ave Toledo, OH	3.0	1.0	1180	$1,245	$1.06	24d	1	1.32mi
4614 Commonwealth Ave Toledo, OH	3.0	1.5	1459	$1,295	$0.89	15d	1	1.32mi
3915 Willys Pkwy Unit 3915 Toledo, OH	3.0	1.0	1080	$800	$0.74	22d	1	1.45mi
3541 Willys Pkwy Toledo, OH	3.0	1.0	1113	$1,400	$1.26	44d	1	1.46mi

Listing history 23 events

1. 2026-06-18
   days on market $109,000 Active 31 DOM
2. 2026-06-17
   days on market $109,000 Active 30 DOM
3. 2026-06-16
   days on market $109,000 Active 29 DOM
4. 2026-06-15
   days on market $109,000 Active 28 DOM
5. 2026-06-14
   days on market $109,000 Active 26 DOM
6. 2026-06-10
   days on market $109,000 Active 23 DOM
7. 2026-06-09
   days on market $109,000 Active 22 DOM
8. 2026-06-08
   days on market $109,000 Active 21 DOM
9. 2026-06-07
   days on market $109,000 Active 20 DOM
10. 2026-06-05
    days on market $109,000 Active 17 DOM
11. 2026-06-03
    statusdays on market $109,000 Active 16 DOM
12. 2026-06-02
    days on market $109,000 Contingent 15 DOM
13. 2026-06-01
    days on market $109,000 Contingent 14 DOM
14. 2026-05-31
    days on market $109,000 Contingent 13 DOM
15. 2026-05-30
    days on market $109,000 Contingent 12 DOM
16. 2026-05-18
    listed $109,000 Active 739-char remark
17. 2026-05-11
    historical $109,000 739-char remark
18. 2025-10-13
    price $32,000 85-char remark

    Show marketing remark (85 chars)

    Good opporunity for owner occupid or rental property - needs some work. Build equity.

19. 2012-02-02
    soldstatus $32,000 85-char remark

    Show marketing remark (85 chars)

    Good opporunity for owner occupid or rental property - needs some work. Build equity.

20. 2011-10-09
    listed $37,000 85-char remark

    Show marketing remark (85 chars)

    Good opporunity for owner occupid or rental property - needs some work. Build equity.

21. 2003-10-16
    soldstatus $78,000
22. 2003-10-14
    soldstatus $78,000

    Show marketing remark (175 chars)

    GREAT OPPORTUNITY!HANDY MAN SPECIAL.NEW ROOF IN '97.UPDATED ELECTRIC AND GLASS BLOCK WINDOWS.SPACIOUS ROOMS,REAR DECK,HOME WARRANTY AND APPLIANCES INCLUDED.BEING SOLD 'AS IS'.

23. 2003-04-21
    listed $78,000

    Show marketing remark (175 chars)

    GREAT OPPORTUNITY!HANDY MAN SPECIAL.NEW ROOF IN '97.UPDATED ELECTRIC AND GLASS BLOCK WINDOWS.SPACIOUS ROOMS,REAR DECK,HOME WARRANTY AND APPLIANCES INCLUDED.BEING SOLD 'AS IS'.

ⓘ 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: $1,566 · $131/mo
• Projected year-2 tax: $1,633 · $136/mo
• Expected delta: +$67/yr (+$6/mo · 4.3%)

ⓘ 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: $15,746
• − Mortgage interest: −$6,106
• − Property taxes: −$1,566
• − Insurance: −$545
• − Repairs & maintenance: −$1,260
• − Management: −$1,260
• − Depreciation: −$3,171
• Taxable income: $1,839
• Est. tax owed @ 24.0%: −$441
• After-tax cash flow: $3,028/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): 30,780
• Household income: $64,384
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 917.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Black 15% Two or more races 10% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 9% Lithuanian 3% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% 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: ▼ -62.37%
• Current HPI: 239.1345
• Rent YoY: ▲ 3.30%
• 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

+39.7% since first listed

11 events — show timeline

• 2026-06-03 Relisted — NORIS
• 2026-05-27 Contingent — NORIS
• 2026-05-18 Listed $109,000 NORIS
• 2026-05-11 Coming Soon $109,000 NORIS
• 2025-10-13 Price Changed $32,000 NORIS
• 2012-02-02 Sold (MLS) $32,000 NORIS
• 2012-01-26 Price Changed $37,000 NORIS
• 2011-10-09 Listed $37,000 NORIS
• 2003-10-16 Sold (Public Records) $78,000 Public Records
• 2003-10-14 Sold (MLS) $78,000 NORIS
• 2003-04-21 Listed $78,000 NORIS

Property tax history

-0.2%/yr

Latest (2025): $1,566 · +0.6% YoY. Source: county tax records.