3342 Elm St · Toledo, OH 43608

$59,900

2 bd · 1.0 ba · 1,247 sqft · SingleFamily public records · 143 Days on market

Built 1941 7,000 sqft lot Est $55k · 9% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.5/5.0
• ARV discount +3.4/15.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Currently leased for $539/month, but could easily be in the low $600's!! 2 bedroom home with 1200+ square feet of living space.

Key facts

• Covered front porch
• Solid brick exterior
• Detached garage

Tags

• SOLID BRICK EXTERIOR
• COVERED FRONT PORCH
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached garage; Driveway; 2 parking spaces total (2 garage spaces)
• Utilities: Electricity connected; Natural gas connected; Public water; Sanitary sewer
• Home design: Single-family residence (house); One story; No shared/common walls; Located on a 0.16-acre lot
• Construction: Brick construction; Combination foundation; Built (year per public records)
• Exterior features: Shingle roof; City street frontage

Interior

• Kitchen: Kitchen (main level, approx. 13 x 10)
• Bedrooms: Primary bedroom (main level, approx. 12 x 11); Bedroom 2 (main level, approx. 12 x 8)
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: 4 total rooms; Other interior features; Unfinished basement
• Laundry & utility: Laundry located inside

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $333 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($955 rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.0% 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: Sherman Elementary School (math 2% / reading 8%, grade F, #1,554 of 1,584 statewide, top 100%, 293 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); 58 active listings in the ZIP; 32 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 39% of the median local income ($29k/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 $414 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 + 3.9% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 21y ago; this cycle's ask has dropped $10k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $22k; list at $60k implies a 172% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — 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: 1.59% ✓
• Cap rate: 12.97%
• Cash-on-cash: 23.85%
• DSCR: 2.06
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $54,868
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
330 E Lake St	0.13mi	3/2.0 (+1)	1,211 (-3%)	3mo	$72,000	$59	77
307 Majestic Dr	0.29mi	3/2.0 (+1)	1,309 (+5%)	3mo	$91,000	$70	67
3118 Elm St	0.30mi	3/1.0 (+1)	1,140 (-9%)	4mo	$50,000	$44	64
532 Dexter St	0.50mi	3/1.5 (+1)	1,307 (+5%)	2mo	$62,000	$47	60
125 E Oakland St	0.37mi	2/1.0	1,088 (-13%)	4mo	$18,000	$17	58
2742 Chestnut St	0.60mi	3/1.0 (+1)	1,312 (+5%)	5mo	$43,000	$33	54
40 E Oakland St	0.45mi	3/1.0 (+1)	1,110 (-11%)	4mo	$53,000	$48	52
235 Bronson Ave	0.44mi	3/2.0 (+1)	1,104 (-12%)	2mo	$48,000	$43	50
150 W Park St	0.73mi	2/1.0	1,124 (-10%)	4mo	$12,000	$11	46
18 W Oakland St	0.56mi	3/2.0 (+1)	1,396 (+12%)	1mo	$114,000	$82	44
910 Woodward Ave	0.60mi	3/2.0 (+1)	1,104 (-12%)	4mo	$34,000	$31	41
1101 Ketcham Ave	0.74mi	3/1.0 (+1)	1,068 (-14%)	3mo	$25,850	$24	34

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: 18.1%
• Equity multiple: 1.74×
• Total profit: $12,408
• Equity at exit: $8,931

10-year hold

• IRR: 27.1%
• Equity multiple: 3.49×
• Total profit: $41,826
• Equity at exit: $5,179

Cash invested: $16,772 (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: 58
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $955 high
• Mortgage (P&I): −$314
• Tax from tax record: −$82 /mo · $981/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $333

Break-even live

Break-even rent $533

Max offer price $59,900

Occupancy floor 60%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
424 E Lake St Toledo, OH	3.0	1.0	1228	$1,075	$0.88	14d	1	0.07mi
333 E Lake St Toledo, OH	2.0	1.0	800	$495	$0.62	23d	1	0.13mi
516 E Hudson St Toledo, OH	3.0	1.0	1204	$1,098	$0.91	14d	1	0.14mi
524 E Hudson St Toledo, OH	2.0	1.0	1050	$825	$0.79	44d	1	0.15mi
524 E Hudson St Toledo, OH	3.0	1.0	1150	$895	$0.78	21d	1	0.15mi
405 E Manhattan Blvd Toledo, OH	2.0	1.0	1000	$900	$0.90	14d	1	0.17mi
710 E Lake St Toledo, OH	3.0	1.0	1242	$1,000	$0.81	14d	1	0.39mi
59 E Hudson St Toledo, OH	3.0	1.0	1368	$1,100	$0.80	44d	1	0.41mi
319 Dexter St Toledo, OH	2.0	1.0	990	$1,005	$1.02	44d	1	0.48mi
830 Homer Ave Toledo, OH	3.0	1.0	1208	$895	$0.74	44d	1	0.55mi
227 Everett St Toledo, OH	2.0	1.0	914	$850	$0.93	44d	1	0.55mi
3010 Warsaw St Toledo, OH	1.0	1.0	806	$525	$0.65	21d	1	0.56mi
420 Everett St Toledo, OH	2.0	1.0	1000	$975	$0.97	23d	1	0.56mi
2807 Chestnut St Unit 2 Toledo, OH	1.0	1.0	745	$495	$0.66	21d	1	0.59mi
329 Mettler St Toledo, OH	2.0	1.0	908	$975	$1.07	14d	1	0.60mi
2621 Chestnut St Toledo, OH	3.0	1.0	1444	$1,250	$0.87	44d	1	0.72mi
225 Palmer St Toledo, OH	2.0	1.0	924	$895	$0.97	44d	1	0.81mi
3474 Maher St Toledo, OH	2.0	1.0	736	$1,125	$1.53	44d	1	0.81mi
3439 Jeannette Ave Toledo, OH	3.0	1.0	1098	$1,095	$1.00	44d	1	0.83mi
1337 Moore St Toledo, OH	3.0	1.5	1194	$995	$0.83	21d	1	0.88mi
3405 Beaumont Dr Toledo, OH	2.0	1.0	855	$745	$0.87	14d	1	0.92mi
425 Boston Pl Unit A Toledo, OH	2.0	1.0	1200	$895	$0.75	23d	1	1.10mi
610 Cadillac Ct Toledo, OH	3.0	1.0	1409	$1,050	$0.75	23d	1	1.14mi
2907 Rockwood Pl Toledo, OH	3.0	1.0	1494	$1,100	$0.74	14d	1	1.28mi
3950 Woodhaven Dr Toledo, OH	2.0	1.0	1072	$745	$0.69	23d	1	1.29mi
4013 Caroline Ave Toledo, OH	1.0	1.0	840	$800	$0.95	21d	1	1.30mi
4140 Caroline Ave Toledo, OH	3.0	1.5	1378	$1,650	$1.20	23d	1	1.36mi
4220 Caroline Ave Toledo, OH	3.0	1.0	944	$1,095	$1.16	44d	1	1.39mi
4039 Vermaas Ave Toledo, OH	2.0	1.0	900	$900	$1.00	23d	1	1.44mi
4124 Vermaas Ave Toledo, OH	2.0	1.0	1245	$997	$0.80	44d	1	1.44mi
4129 Vermaas Ave Toledo, OH	3.0	1.5	1385	$1,250	$0.90	44d	1	1.47mi
244 Sunset Blvd Toledo, OH	2.0	1.0	726	$1,045	$1.44	21d	1	1.49mi

Listing history 21 events

1. 2026-05-18
   status Pending
2. 2026-03-23
   historical Contingent
3. 2026-01-13
   price $59,900
4. 2025-12-26
   listed $69,900 Active
5. 2025-10-14
   price $25,000 127-char remark

   Show marketing remark (162 chars)

   1-story investment property currently rented for $725/month. Long-term tenant that wants to stay. Don't miss the opportunity to add this to your rental portfolio!

6. 2025-10-14
   price $22,000 162-char remark

   Show marketing remark (162 chars)

   1-story investment property currently rented for $725/month. Long-term tenant that wants to stay. Don't miss the opportunity to add this to your rental portfolio!

7. 2025-01-10
   soldstatus $22,000 Closed 162-char remark

   Show marketing remark (162 chars)

   1-story investment property currently rented for $725/month. Long-term tenant that wants to stay. Don't miss the opportunity to add this to your rental portfolio!

8. 2025-01-10
   status Pending 162-char remark

   Show marketing remark (162 chars)

   1-story investment property currently rented for $725/month. Long-term tenant that wants to stay. Don't miss the opportunity to add this to your rental portfolio!

9. 2024-12-27
   historical Contingent 162-char remark

   Show marketing remark (162 chars)

   1-story investment property currently rented for $725/month. Long-term tenant that wants to stay. Don't miss the opportunity to add this to your rental portfolio!

10. 2024-12-22
    status Active 162-char remark

    Show marketing remark (162 chars)

    1-story investment property currently rented for $725/month. Long-term tenant that wants to stay. Don't miss the opportunity to add this to your rental portfolio!

11. 2024-12-02
    historical Contingent 162-char remark

    Show marketing remark (162 chars)

    1-story investment property currently rented for $725/month. Long-term tenant that wants to stay. Don't miss the opportunity to add this to your rental portfolio!

12. 2024-11-29
    listed $29,900 Active 162-char remark

    Show marketing remark (162 chars)

    1-story investment property currently rented for $725/month. Long-term tenant that wants to stay. Don't miss the opportunity to add this to your rental portfolio!

13. 2021-03-01
    listed $33,099
14. 2019-03-11
    historical
15. 2019-02-25
    listed $28,000
16. 2006-07-11
    soldstatus $25,000 127-char remark

    Show marketing remark (127 chars)

    Currently leased for $539/month, but could easily be in the low $600's!! 2 bedroom home with 1200+ square feet of living space.

17. 2006-07-06
    soldstatus $73,900
18. 2006-04-03
    listed $73,900 127-char remark

    Show marketing remark (127 chars)

    Currently leased for $539/month, but could easily be in the low $600's!! 2 bedroom home with 1200+ square feet of living space.

19. 2005-12-15
    historical
20. 2005-09-06
    listed
21. 1997-04-07
    soldstatus $15,300

ⓘ 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: $981 · $82/mo
• Projected year-2 tax: $981 · $82/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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,456
• − Mortgage interest: −$3,355
• − Property taxes: −$981
• − Insurance: −$300
• − Repairs & maintenance: −$916
• − Management: −$916
• − Depreciation: −$1,743
• Taxable income: $3,245
• Est. tax owed @ 24.0%: −$779
• After-tax cash flow: $3,222/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

+291.5% since first listed

21 events — show timeline

• 2026-05-18 Pending — NORIS
• 2026-03-23 Contingent — NORIS
• 2026-01-13 Price Changed $59,900 NORIS
• 2025-12-26 Listed $69,900 NORIS
• 2025-10-14 Price Changed $25,000 NORIS
• 2025-10-14 Price Changed $22,000 NORIS
• 2025-01-10 Sold (MLS) $22,000 NORIS
• 2025-01-10 Pending — NORIS
• 2024-12-27 Contingent — NORIS
• 2024-12-22 Relisted — NORIS
• 2024-12-02 Contingent — NORIS
• 2024-11-29 Listed $29,900 NORIS
• 2021-03-01 Listed $33,099 NORIS
• 2019-03-11 Listing Removed — NORIS
• 2019-02-25 Listed $28,000 NORIS
• 2006-07-11 Sold (MLS) $25,000 NORIS
• 2006-07-06 Sold (Public Records) $73,900 Public Records
• 2006-04-03 Listed $73,900 NORIS
• 2005-12-15 Listing Removed — NORIS
• 2005-09-06 Listed — NORIS
• 1997-04-07 Sold (Public Records) $15,300 Public Records

Property tax history

+3.2%/yr

Latest (2025): $981 · -7.8% YoY. Source: county tax records.