628 Evesham Ave · Toledo, OH 43607

$130,000

2 bd · 2.0 ba · 1,512 sqft · MultiFamily public records · 49 Days on market

Built 1912 3,600 sqft lot $86/sqft · 54% above area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• 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

LENDER OWNED, PLEASE SUBMIT PROOF OF FUNDS.

Key facts

• Remodeled duplex
• Newer doors
• Newer siding

Tags

• REMODELED DUPLEX
• FULLY RENTED UNITS
• NEWER WINDOWS
• NEWER DOORS
• NEWER SIDING
• NEWER CONCRETE DRIVEWAY

Property features AI

Finance

• Financial info: Two units (both leased); Tenants pay electricity and gas; Owner pays water and lawn care

Exterior

• Parking: Parking for 4 vehicles; Concrete driveway
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer
• Home design: Residential income property — duplex; Two-story
• Construction: Aluminum siding; Steel siding; Crawl space foundation; Built as a multi-family duplex
• Exterior features: Shingle roof

Interior

• Kitchen: Electric Range; Gas Range; Refrigerator
• Flooring: Luxury vinyl
• Heating & cooling: Forced air heating; Window cooling units
• Interior features: Storage
• Laundry & utility: In-unit laundry hookups for washer; Electric dryer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $792 ($10k/yr) — positive. Per door: $396/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.6% 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: Robinson Elementary School (math 2% / reading 2%, grade F, #1,580 of 1,584 statewide, top 100%, 358 students, 0% FRL); Jesup W. Scott High School (math 8% / reading 17%, grade F, #726 of 781 statewide, top 94%, 736 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.
• Zoned-school proficiency averages 7% at this address vs 20% district-wide (-12 pts) — the specific schools serving this property underperform the Toledo City average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+8.2%/yr); 83 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% 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).
• At $2,027/mo this rent would consume 59% of the median local household income ($41k/yr) (locally 1157% 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 $899 of loan paydown is wiped out by about $4k 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 + 8.0% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y ago; this cycle's ask has dropped $18k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,100 (3.0% 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 3% 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 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.56% ✓
• Cap rate: 13.60%
• Cash-on-cash: 26.10%
• DSCR: 2.16
• GRM: 5.3

CMA / ARV

• ARV (median comp): $84,246
• List price: $130,000
• Delta: 54.31%
• Verdict: OVERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 2.10×
• Total profit: $40,050
• Equity at exit: $19,383

10-year hold

• IRR: 35.7%
• Equity multiple: 5.08×
• Total profit: $148,467
• Equity at exit: $11,240

Cash invested: $36,400 (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 43607

• Home prices YoY: -27.5%
• Rents YoY: 8.2%
• Active inventory: 83
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,027 high
• Mortgage (P&I): −$682
• Tax from tax record: −$74 /mo · $884/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $792

Break-even live

Break-even rent $1,025

Max offer price $130,000

Occupancy floor 56%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,026
Total (2 units)			$2,027

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
915 Woodstock Ave Toledo, OH	3.0	1.5	1500	$1,100	$0.73	23d	1	0.26mi
319 N Detroit Ave Toledo, OH	3.0	1.0	1341	$845	$0.63	44d	1	0.50mi
2314 Airline Ave Toledo, OH	3.0	1.0	1123	$1,478	$1.32	23d	1	0.85mi
1748 Finch St Toledo, OH	1.0	1.0	1790	$500	$0.28	44d	1	0.87mi
2037 Alvin St Toledo, OH	3.0	1.0	1260	$1,175	$0.93	44d	1	1.12mi
2117 Clinton St Toledo, OH	3.0	1.0	1256	$1,115	$0.89	44d	1	1.20mi
1122 Pinewood Ave Toledo, OH	3.0	1.0	1559	$1,150	$0.74	14d	1	1.21mi
2637 Greenway St Toledo, OH	2.0	1.0	1082	$900	$0.83	44d	1	1.23mi
1140 Palmwood Ave Toledo, OH	3.0	1.0	1292	$1,500	$1.16	44d	1	1.26mi
523 Nicholas St Toledo, OH	3.0	1.0	1290	$1,350	$1.05	14d	1	1.32mi
569 Colima Dr Toledo, OH	3.0	1.0	1253	$1,300	$1.04	23d	1	1.33mi
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	44d	1	1.34mi
532 Carlton St Toledo, OH	3.0	1.0	1130	$1,050	$0.93	44d	1	1.35mi
619 Durango Dr Toledo, OH	3.0	1.0	1276	$1,350	$1.06	44d	1	1.41mi

Listing history 39 events

1. 2026-06-18
   days on market $130,000 Active 49 DOM
2. 2026-06-17
   days on market $130,000 Active 48 DOM
3. 2026-06-16
   days on market $130,000 Active 47 DOM
4. 2026-06-15
   days on market $130,000 Active 46 DOM
5. 2026-06-14
   days on market $130,000 Active 44 DOM
6. 2026-06-10
   days on market $130,000 Active 41 DOM
7. 2026-06-09
   days on market $130,000 Active 40 DOM
8. 2026-06-08
   days on market $130,000 Active 39 DOM
9. 2026-06-07
   days on market $130,000 Active 38 DOM
10. 2026-06-05
    days on market $130,000 Active 35 DOM
11. 2026-06-03
    days on market $130,000 Active 34 DOM
12. 2026-06-02
    days on market $130,000 Active 33 DOM
13. 2026-06-01
    days on market $130,000 Active 32 DOM
14. 2026-05-31
    days on market $130,000 Active 31 DOM
15. 2026-05-30
    days on market $130,000 Active 30 DOM
16. 2026-05-14
    price $140,000 938-char remark
17. 2026-05-07
    price $143,000 938-char remark
18. 2026-04-29
    listed $148,000 Active 938-char remark
19. 2026-01-22
    historical $750
20. 2025-12-06
    price $750
21. 2025-11-14
    listed $795
22. 2025-10-14
    price $3,000 43-char remark

    Show marketing remark (554 chars)

    Duplex upper / lower units have been totally redone! Live in one and rent the other unit! New Kitchens, fans in all bedrooms. Totally repainted on the inside. New deck on the front and back of the lower unit. Units totally redone! Upper unit is all electric. The lower unit is electric and gas. The backstairs completely redone to the upper unit. New windows, new doors, new siding.New concrete driveway behind the home. Two exterior cameras do NOT stay. Washer and dryer areas in units and new hot water heaters. New exterior stairs upto the 2nd unit.

23. 2025-10-14
    price $130,000

    Show marketing remark (554 chars)

    Duplex upper / lower units have been totally redone! Live in one and rent the other unit! New Kitchens, fans in all bedrooms. Totally repainted on the inside. New deck on the front and back of the lower unit. Units totally redone! Upper unit is all electric. The lower unit is electric and gas. The backstairs completely redone to the upper unit. New windows, new doors, new siding.New concrete driveway behind the home. Two exterior cameras do NOT stay. Washer and dryer areas in units and new hot water heaters. New exterior stairs upto the 2nd unit.

24. 2025-10-14
    price $12,500

    Show marketing remark (554 chars)

    Duplex upper / lower units have been totally redone! Live in one and rent the other unit! New Kitchens, fans in all bedrooms. Totally repainted on the inside. New deck on the front and back of the lower unit. Units totally redone! Upper unit is all electric. The lower unit is electric and gas. The backstairs completely redone to the upper unit. New windows, new doors, new siding.New concrete driveway behind the home. Two exterior cameras do NOT stay. Washer and dryer areas in units and new hot water heaters. New exterior stairs upto the 2nd unit.

25. 2024-01-27
    historical $800
26. 2024-01-07
    price $800
27. 2023-12-15
    price $850
28. 2023-11-10
    listed $900
29. 2023-10-18
    soldstatus $130,000
30. 2023-10-11
    soldstatus $130,000 Closed

    Show marketing remark (554 chars)

    Duplex upper / lower units have been totally redone! Live in one and rent the other unit! New Kitchens, fans in all bedrooms. Totally repainted on the inside. New deck on the front and back of the lower unit. Units totally redone! Upper unit is all electric. The lower unit is electric and gas. The backstairs completely redone to the upper unit. New windows, new doors, new siding.New concrete driveway behind the home. Two exterior cameras do NOT stay. Washer and dryer areas in units and new hot water heaters. New exterior stairs upto the 2nd unit.

31. 2023-09-01
    status Pending

    Show marketing remark (554 chars)

    Duplex upper / lower units have been totally redone! Live in one and rent the other unit! New Kitchens, fans in all bedrooms. Totally repainted on the inside. New deck on the front and back of the lower unit. Units totally redone! Upper unit is all electric. The lower unit is electric and gas. The backstairs completely redone to the upper unit. New windows, new doors, new siding.New concrete driveway behind the home. Two exterior cameras do NOT stay. Washer and dryer areas in units and new hot water heaters. New exterior stairs upto the 2nd unit.

32. 2023-08-04
    listed $139,900 Active

    Show marketing remark (554 chars)

    Duplex upper / lower units have been totally redone! Live in one and rent the other unit! New Kitchens, fans in all bedrooms. Totally repainted on the inside. New deck on the front and back of the lower unit. Units totally redone! Upper unit is all electric. The lower unit is electric and gas. The backstairs completely redone to the upper unit. New windows, new doors, new siding.New concrete driveway behind the home. Two exterior cameras do NOT stay. Washer and dryer areas in units and new hot water heaters. New exterior stairs upto the 2nd unit.

33. 2022-09-27
    soldstatus $12,500
34. 2022-09-15
    soldstatus $12,500 Closed
35. 2022-07-12
    status Pending
36. 2022-06-29
    price $19,000
37. 2022-06-10
    listed $22,000 Active
38. 2007-08-24
    soldstatus $3,000 43-char remark

    Show marketing remark (43 chars)

    LENDER OWNED, PLEASE SUBMIT PROOF OF FUNDS.

39. 2007-05-02
    listed $4,900 43-char remark

    Show marketing remark (43 chars)

    LENDER OWNED, PLEASE SUBMIT PROOF OF FUNDS.

ⓘ 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: $884 · $74/mo
• Projected year-2 tax: $1,456 · $121/mo
• Expected delta: +$572/yr (+$48/mo · 64.7%)

ⓘ 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: $24,324
• − Mortgage interest: −$7,282
• − Property taxes: −$884
• − Insurance: −$650
• − Repairs & maintenance: −$1,946
• − Management: −$1,946
• − Depreciation: −$3,782
• Taxable income: $7,834
• Est. tax owed @ 24.0%: −$1,880
• After-tax cash flow: $7,621/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): 19,469
• Household income: $41,335
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 1157.0

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 0.57)
• Race & ethnicity: Black 59% White 27% Two or more races 6% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Other Indo-European 1% Spanish 1% Russian/Polish/Slavic 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: ▼ -66.58%
• Current HPI: 175.2772
• Rent YoY: ▲ 8.19%
• 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

+2553.1% since first listed

26 events — show timeline

• 2026-05-28 Price Changed $130,000 NORIS
• 2026-05-21 Price Changed $135,000 NORIS
• 2026-05-14 Price Changed $140,000 NORIS
• 2026-05-07 Price Changed $143,000 NORIS
• 2026-04-29 Listed $148,000 NORIS
• 2026-01-22 Rental Removed $750 APPFOLIO
• 2025-12-06 Price Changed $750 APPFOLIO
• 2025-11-14 Listed for Rent $795 APPFOLIO
• 2025-10-14 Price Changed $3,000 NORIS
• 2025-10-14 Price Changed $130,000 NORIS
• 2025-10-14 Price Changed $12,500 NORIS
• 2024-01-27 Rental Removed $800 APPFOLIO
• 2024-01-07 Price Changed $800 APPFOLIO
• 2023-12-15 Price Changed $850 APPFOLIO
• 2023-11-10 Listed for Rent $900 APPFOLIO
• 2023-10-18 Sold (Public Records) $130,000 Public Records
• 2023-10-11 Sold (MLS) $130,000 NORIS
• 2023-09-01 Pending — NORIS
• 2023-08-04 Listed $139,900 NORIS
• 2022-09-27 Sold (Public Records) $12,500 Public Records
• 2022-09-15 Sold (MLS) $12,500 NORIS
• 2022-07-12 Pending — NORIS
• 2022-06-29 Price Changed $19,000 NORIS
• 2022-06-10 Listed $22,000 NORIS
• 2007-08-24 Sold (MLS) $3,000 NORIS
• 2007-05-02 Listed $4,900 NORIS

Property tax history

+1.6%/yr

Latest (2025): $884 · +1.7% YoY. Source: county tax records.