524 E Hudson St · Toledo, OH 43608

$154,900

5 bd · 2.0 ba · 2,258 sqft · MultiFamily public records · 8 Days on market

Built 1925 7,980 sqft lot

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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 +28.0/30.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Rent growth +3.5/5.0
• 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

Court Ordered Foreclosure Auction! Minimum Bid $36,666.67 Bidding is online only at Auctioneers website. Bidding starts on Thursday, September 14th at 9:00 AM and ends on Thursday September 21st at 2:00 PM. Duplex located in North Toledo. 2 bed and 3 bedrooms, Full basement, natural woodwork, hardwood floors, fireplace and built-ins. Increase your wealth with this money making duplex!

Key facts

• Updated duplex
• New flooring
• 7,980 sq ft lot

Tags

• UPDATED DUPLEX
• NEW FLOORING
• LARGE SHADED UPPER LEVEL DECK
• ORIGINAL DOORS AND TRIM

Property features AI

Finance

• Other:
• Financial info: Two-unit property; Currently both units listed as vacant; Tenant and owner responsibilities: other
• HOA & community:

Exterior

• Parking: Attached 2-car garage
• Security:
• Utilities: Electricity connected; Natural gas connected; Public sewer; Public water
• Home design: Duplex residential income property; Two-story
• Construction: Aluminum siding; Block foundation
• Exterior features: Shingle roof

Interior

• Kitchen: Other appliances
• Bedrooms:
• Flooring: Hardwood; Vinyl
• Bathrooms:
• Heating & cooling: Forced-air heating; Natural gas heating
• Interior features: Built-in features; Full basement
• Laundry & utility: Other laundry features

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $155k.

Deal economics

• At list price, monthly cash flow is $481 ($6k/yr) — positive. Per door: $240/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Cap rate 10.0% 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-, 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: Leverette Elementary School (math 3% / reading 13%, grade F, #1,517 of 1,584 statewide, top 96%, 429 students, 0% FRL); Woodward High School (math 2% / reading 22%, grade F, #726 of 781 statewide, top 94%, 672 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 (+3.9%/yr); 59 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• At $1,895/mo this rent would consume 78% of the median local household income ($29k/yr) (locally 911% 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 $1k of loan paydown is wiped out by about $5k 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 + 3.9% rent growth), your $43k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 $38k; list at $155k implies a 303% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $154,900

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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.22% ✓
• Cap rate: 10.02%
• Cash-on-cash: 13.30%
• DSCR: 1.59
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $83,546
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2824 Chestnut St	0.50mi	4/2.0 (-1)	2,055 (-9%)	2mo	$81,000	$39	55
417 E Weber St	0.16mi	4/2.0 (-1)	1,950 (-14%)	23mo	$62,000	$32	46
1011 Bricker Ave	0.54mi	4/2.0 (-1)	1,926 (-15%)	8mo	$72,000	$37	38

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 · 3.89% rent growth · sell at horizon

5-year hold

• IRR: 4.3%
• Equity multiple: 1.17×
• Total profit: $7,212
• Equity at exit: $23,096

10-year hold

• IRR: 14.5%
• Equity multiple: 2.22×
• Total profit: $52,824
• Equity at exit: $13,393

Cash invested: $43,372 (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 43608

• Home prices YoY: -21.3%
• Rents YoY: 3.9%
• Active inventory: 59
• Price-to-rent: 13.6×

Monthly cashflow live

• Estimated rent: $1,895 high
• Mortgage (P&I): −$812
• Tax from tax record: −$140 /mo · $1,676/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $481

Break-even live

Break-even rent $1,287

Max offer price $154,900

Occupancy floor 70%

Sensitivity live

Price	-10% $568	-5% $524	+0% $481	+5% $437	+10% $393
Rent	-10% $331	-5% $406	+0% $481	+5% $555	+10% $630
Rate	-1.0pp $559	-0.5pp $520	base $481	+0.5pp $440	+1.0pp $400

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,894
Total (2 units)			$1,895

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1536 N Erie St Toledo, OH	4.0	1.0	1600	$1,300	$0.81	44d	1	1.49mi

Listing history 8 events

1. 2026-06-14
   status $154,900 Pending 8 DOM
2. 2026-06-10
   days on market $154,900 Active 8 DOM
3. 2026-06-09
   days on market $154,900 Active 7 DOM
4. 2026-06-08
   days on market $154,900 Active 6 DOM
5. 2026-06-07
   days on market $154,900 Active 5 DOM
6. 2026-06-05
   days on market $154,900 Active 2 DOM
7. 2026-06-03
   remarks 280-char remark
8. 2026-06-03
   listed $154,900 Active 1 DOM

ⓘ 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: $1,676 · $140/mo
• Projected year-2 tax: $2,046 · $171/mo
• Expected delta: +$370/yr (+$31/mo · 22.1%)

ⓘ 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: $22,740
• − Mortgage interest: −$8,677
• − Property taxes: −$1,676
• − Insurance: −$774
• − Repairs & maintenance: −$1,819
• − Management: −$1,819
• − Depreciation: −$4,506
• Taxable income: $3,468
• Est. tax owed @ 24.0%: −$832
• After-tax cash flow: $4,934/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): 13,593
• Household income: $29,275
• Rent vs Own: 44.6% rent · 55.4% own
• Severe rent burden: 911.0

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 0.60)
• Race & ethnicity: Black 57% White 25% Two or more races 9% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Spanish 7%

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: ▼ -37.73%
• Current HPI: 139.4964
• Rent YoY: ▲ 3.89%
• 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

+307.6% since first listed

10 events — show timeline

• 2026-06-02 Listed $154,900 NORIS
• 2024-01-08 Sold (MLS) $38,441 NORIS
• 2023-10-02 Pending — NORIS
• 2023-10-02 Price Changed $38,441 NORIS
• 2023-08-15 Listed $36,666 NORIS
• 2002-07-02 Sold (Public Records) $75,000 Public Records
• 2002-05-03 Listing Removed — NORIS
• 2002-01-16 Listed — NORIS
• 1988-05-24 Sold (Public Records) $35,300 Public Records
• 1985-10-10 Sold (Public Records) $38,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $1,676 · +0.5% YoY. Source: county tax records.