2336 South Ave · Toledo, OH 43609

$129,000

3 bd · 1.0 ba · 1,358 sqft · SingleFamily public records · 49 Days on market

Built 1928 7,100 sqft lot $95/sqft · 37% above area Est $94k · 37% over

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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 +16.4/30.0
• Appreciation +5.4/10.0
• DSCR +5.1/10.0
• Rent growth +4.5/5.0
• 1% rule +4.4/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0

Listing remarks

Well-maintained 4-bedroom, 1.5 bath home offering plenty of space and storage throughout! Recent updates includes a new furnace and A/C, plus a professionally waterproofed basement for added peace of mind. Don't miss this move-in ready opportunity!

Key facts

• 7,100 sq ft lot
• Built 1928
• Listed 49 days

Property features AI

Exterior

• Parking: Driveway
• Utilities: Electricity connected (circuit breakers); Natural gas connected; Public water; Public sewer
• Home design: Single-family house; Two levels (2 stories); No shared/common walls
• Construction: Vinyl siding; Block foundation
• Exterior features: Balcony; Deck; Front porch; Shingle roof

Interior

• Kitchen: Dishwasher; Gas oven
• Bedrooms: Primary bedroom (Upper) with balcony; Bedroom 2 (Upper); Bedroom 3 (Upper); Bedroom 4 (Upper)
• Flooring: Carpet; Hardwood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Open floorplan; Storage; Ceiling fan(s); Full basement with partial finish and sump pump
• Laundry & utility: Washer hookup (in basement); Gas dryer hookup (in basement)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $73 ($876/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (6.2% below list).
• Recommended offer: $121k (6.2% below list) — sets the bar for 1% rule.

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: Arlington Elementary School (math 12% / reading 14%, grade F, #1,429 of 1,584 statewide, top 90%, 327 students, 0% FRL); Bowsher High School (math 23% / reading 45%, grade F, #596 of 781 statewide, top 76%, 1,240 students, 49% 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 fast (+7.8%/yr); 99 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• This rent runs 34% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $2k of equity ($892 loan paydown + $967 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 $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $71k; list at $129k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,025 (6.2% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — 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. 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?
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: 0.94% ✗
• Cap rate: 6.97%
• Cash-on-cash: 2.43%
• DSCR: 1.11
• GRM: 8.9

CMA / ARV

• ARV (median comp): $94,463
• List price: $129,000
• Delta: 36.56%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
541 Apple Ave	0.10mi	3/1.0	1,378 (+2%)	6mo	$125,000	$91	88
414 Bender Dr	0.12mi	3/1.0	1,414 (+4%)	5mo	$93,000	$66	84
321 Mayberry St	0.32mi	3/1.5	1,362 (+0%)	6mo	$68,000	$50	78
256 Decatur St	0.37mi	3/2.0	1,364 (+0%)	1mo	$100,500	$74	77
569 Apple Ave	0.15mi	3/1.0	1,528 (+12%)	6mo	$110,000	$72	67
2837 Airport Hwy	0.55mi	3/2.0	1,386 (+2%)	3mo	$142,900	$103	65
2437 Airport Hwy	0.20mi	3/2.0	1,190 (-12%)	6mo	$105,000	$88	61
812 National Ave	0.62mi	3/1.5	1,315 (-3%)	4mo	$105,000	$80	61
702 Colima Dr	0.34mi	3/2.0	1,504 (+11%)	2mo	$75,300	$50	60
226 Somerset St	0.46mi	3/1.0	1,186 (-13%)	5mo	$53,000	$45	53
2828 South Ave	0.51mi	3/1.0	1,200 (-12%)	7mo	$58,500	$49	51
1836 Finch St	0.66mi	3/2.0	1,188 (-12%)	3mo	$85,950	$72	42

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: 6.2%
• Equity multiple: 1.32×
• Total profit: $11,631
• Equity at exit: $42,364

10-year hold

• IRR: 13.7%
• Equity multiple: 2.83×
• Total profit: $66,252
• Equity at exit: $55,026

Cash invested: $36,120 (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: 99
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,210 high
• Mortgage (P&I): −$676
• Tax from tax record: −$153 /mo · $1,834/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $73

Break-even live

Break-even rent $1,118

Max offer price $129,000

Occupancy floor 89%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2314 Airline Ave Toledo, OH	3.0	1.0	1123	$1,478	$1.32	23d	1	0.26mi
569 Colima Dr Toledo, OH	3.0	1.0	1253	$1,300	$1.04	23d	1	0.27mi
307 Danberry St Toledo, OH	2.0	1.0	988	$950	$0.96	43d	1	0.28mi
581 Colima Dr Toledo, OH	2.0	1.0	900	$1,100	$1.22	14d	1	0.28mi
619 Durango Dr Toledo, OH	3.0	1.0	1276	$1,350	$1.06	43d	1	0.35mi
825 Brighton Ave Toledo, OH	3.0	1.0	1533	$1,350	$0.88	43d	1	1.06mi
523 Nicholas St Toledo, OH	3.0	1.0	1290	$1,350	$1.05	14d	1	1.09mi
705 Nicholas St Toledo, OH	2.0	1.0	1037	$900	$0.87	43d	1	1.12mi
532 Carlton St Toledo, OH	3.0	1.0	1130	$1,050	$0.93	43d	1	1.12mi
1785 Tecumseh St Toledo, OH	2.0	1.0	930	$900	$0.97	43d	1	1.17mi
724 Spencer St Toledo, OH	3.0	1.5	1127	$1,100	$0.98	43d	1	1.19mi
319 N Detroit Ave Toledo, OH	3.0	1.0	1341	$845	$0.63	43d	1	1.20mi
1418 Colburn St Toledo, OH	3.0	1.0	992	$1,200	$1.21	14d	1	1.28mi
1510 Watova Rd Toledo, OH	3.0	1.0	1197	$1,495	$1.25	21d	1	1.34mi
915 Woodstock Ave Toledo, OH	3.0	1.5	1500	$1,100	$0.73	23d	1	1.34mi
3349 Airport Hwy Toledo, OH	1.0–2.0	1.0	791	$885	$1.12	43d	1	1.36mi
3406 Gibraltar Heights Dr Toledo, OH	2.0	1.0–2.0	678	$919	$1.35	14d	14	1.36mi
2802 Broadway St Unit 1 Toledo, OH	3.0	1.0	1650	$1,400	$0.85	14d	1	1.39mi
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	43d	1	1.40mi
2594 Broadway St Toledo, OH	2.0	1.0	1076	$825	$0.77	43d	1	1.42mi
3348 Arlington Ave Apt 10 Toledo, OH	2.0	1.0	900	$795	$0.88	43d	1	1.43mi
932 Turner Ave Toledo, OH	2.0	1.0	960	$1,295	$1.35	14d	1	1.45mi
1133 Parkside Blvd Toledo, OH	2.0	1.0	960	$850	$0.89	43d	1	1.46mi
1255 S Byrne Rd Toledo, OH	1.0–3.0	1.0–2.0	1080	$1,529	$1.42	14d	1	1.47mi
916 S Byrne Rd Toledo, OH	2.0	1.0	900	$899	$1.00	21d	1	1.49mi

Listing history 20 events

1. 2026-06-18
   days on market $129,000 Active 49 DOM
2. 2026-06-17
   days on market $129,000 Active 48 DOM
3. 2026-06-16
   days on market $129,000 Active 47 DOM
4. 2026-06-15
   days on market $129,000 Active 46 DOM
5. 2026-06-14
   days on market $129,000 Active 44 DOM
6. 2026-06-10
   days on market $129,000 Active 41 DOM
7. 2026-06-09
   days on market $129,000 Active 40 DOM
8. 2026-06-08
   days on market $129,000 Active 39 DOM
9. 2026-06-07
   days on market $129,000 Active 38 DOM
10. 2026-06-05
    days on market $129,000 Active 35 DOM
11. 2026-06-03
    days on market $129,000 Active 34 DOM
12. 2026-06-02
    days on market $129,000 Active 33 DOM
13. 2026-06-01
    days on market $129,000 Active 32 DOM
14. 2026-05-31
    days on market $129,000 Active 31 DOM
15. 2026-05-30
    days on market $129,000 Active 30 DOM
16. 2026-04-30
    listed $129,000 Active 248-char remark
17. 2026-04-25
    historical $129,000 248-char remark
18. 2024-05-01
    soldstatus $71,000
19. 1999-04-08
    soldstatus $37,180
20. 1990-06-04
    soldstatus $37,200

ⓘ 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: $1,834 · $153/mo
• Projected year-2 tax: $1,923 · $160/mo
• Expected delta: +$89/yr (+$7/mo · 4.9%)

ⓘ 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 ≥101°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: $14,523
• − Mortgage interest: −$7,226
• − Property taxes: −$1,834
• − Insurance: −$645
• − Repairs & maintenance: −$1,162
• − Management: −$1,162
• − Depreciation: −$3,753
• Taxable loss: −$1,258
• Est. tax savings @ 24.0%: +$302
• After-tax cash flow: $1,178/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

+246.8% since first listed

5 events — show timeline

• 2026-04-30 Listed $129,000 NORIS
• 2026-04-25 Coming Soon $129,000 NORIS
• 2024-05-01 Sold (Public Records) $71,000 Public Records
• 1999-04-08 Sold (Public Records) $37,180 Public Records
• 1990-06-04 Sold (Public Records) $37,200 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,834 · +0.3% YoY. Source: county tax records.