341 Boston Pl · Toledo, OH 43610

$39,000

4 bd · 2.0 ba · 2,640 sqft · MultiFamily public records · 30 Days on market

Built 1904 6,400 sqft lot Est $53k · 26% under ↓ 53% since listing

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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 +15.0/30.0
• ARV discount +15.0/15.0
• Appreciation +7.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Online Duplex Auction! Bidding Ends: Thursday, March 21, 2024 at 12:00 pm. Duplex has the Old West End charm, established neighborhood, natural wood work, and hardwood floors. income producing and never offered before! Property will be sold with a ten (10%) percent buyer’s premium.

Key facts

• 6,400 sq ft lot
• Built 1904
• Listed 30 days

Property features AI

Finance

• Other: Living area approximately 2,640; Lot about 0.15 acre (6,400 sq ft)
• Financial info: Two-unit building with both units leased; Tenant pays all utilities; Owner pays insurance and taxes

Exterior

• Parking: Concrete driveway
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer
• Home design: Residential income property (duplex); Two-story duplex; Entry level information not provided; Facing direction not provided
• Construction: Stucco construction; Block foundation
• Exterior features: Slate roof; Irregular lot

Interior

• Kitchen: Other appliances
• Flooring: Combination flooring
• Heating & cooling: Boiler heating; Has heating
• Interior features: Other interior features
• Laundry & utility: Other laundry features

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $39k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $623/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $39k).
• Recommended offer: $38k (1.5% below list) — sets the bar for market timing.
• Cap rate 44.6% 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: Glenwood Elementary School (math 2% / reading 12%, grade F, #1,527 of 1,584 statewide, top 98%, 300 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.
• Market conditions: 29 active listings in the ZIP; lower-income renter base — watch delinquency; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• At $2,043/mo this rent would consume 64% of the median local household income ($38k/yr) (locally 16% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $2k of equity ($270 loan paydown + $2k appreciation (4.7% 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 (4.7% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: property tax is 4.6% of price; built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $38,415 (1.5% below list)

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 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 5.24% ✓
• Cap rate: 44.61%
• Cash-on-cash: 136.85%
• DSCR: 7.09
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $52,800
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3242 Cambridge St	0.38mi	4/2.0	2,828 (+7%)	4mo	$56,000	$20	67
3235 Parkwood Ave	0.45mi	4/2.0	2,520 (-4%)	12mo	$50,000	$20	61
2278 Warren St	0.71mi	5/2.0 (+1)	2,380 (-10%)	4mo	$845,000	$355	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.65% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.02×
• Total profit: $87,614
• Equity at exit: $21,270

10-year hold

• IRR: —
• Equity multiple: 19.03×
• Total profit: $196,853
• Equity at exit: $36,039

Cash invested: $10,920 (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 43610

• Home prices YoY: 3.8%
• Active inventory: 29
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $2,043 high
• Mortgage (P&I): −$205
• Tax from tax record: −$148 /mo · $1,775/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $1,245

Break-even live

Break-even rent $467

Max offer price $39,000

Occupancy floor 34%

Sensitivity live

Price	-10% $1,371	-5% $1,256	+0% $1,245	+5% $1,234	+10% $1,223
Rent	-10% $1,084	-5% $1,165	+0% $1,245	+5% $1,326	+10% $1,407
Rate	-1.0pp $1,265	-0.5pp $1,255	base $1,245	+0.5pp $1,235	+1.0pp $1,225

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,042
Total (2 units)			$2,043

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: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $39,000 Active 30 DOM
2. 2026-06-18
   days on market $39,000 Active 27 DOM
3. 2026-06-17
   days on market $39,000 Active 26 DOM
4. 2026-06-16
   days on market $39,000 Active 25 DOM
5. 2026-06-15
   days on market $39,000 Active 24 DOM
6. 2026-06-14
   remarks 362-char remark
7. 2026-06-14
   days on market $39,000 Active 22 DOM
8. 2026-06-10
   days on market $39,000 Active 19 DOM
9. 2026-06-09
   days on market $39,000 Active 18 DOM
10. 2026-06-08
    days on market $39,000 Active 17 DOM
11. 2026-06-07
    days on market $39,000 Active 16 DOM
12. 2026-06-05
    days on market $39,000 Active 13 DOM
13. 2026-06-03
    days on market $39,000 Active 12 DOM
14. 2026-06-02
    days on market $39,000 Active 11 DOM
15. 2026-06-01
    days on market $39,000 Active 10 DOM
16. 2026-05-31
    days on market $39,000 Active 9 DOM
17. 2026-05-30
    days on market $39,000 Active 8 DOM
18. 2026-04-12
    price $79,000 222-char remark
19. 2025-11-13
    price $94,900 222-char remark
20. 2025-10-28
    price $99,000 222-char remark
21. 2025-10-14
    listed $115,000 Active 222-char remark
22. 2024-04-12
    soldstatus $107,800
23. 2024-04-10
    soldstatus $53,900 Closed 288-char remark

    Show marketing remark (288 chars)

    Online Duplex Auction! Bidding Ends: Thursday, March 21, 2024 at 12:00 pm. Duplex has the Old West End charm, established neighborhood, natural wood work, and hardwood floors. income producing and never offered before! Property will be sold with a ten (10%) percent buyer’s premium.

24. 2024-03-21
    status Pending 288-char remark

    Show marketing remark (288 chars)

    Online Duplex Auction! Bidding Ends: Thursday, March 21, 2024 at 12:00 pm. Duplex has the Old West End charm, established neighborhood, natural wood work, and hardwood floors. income producing and never offered before! Property will be sold with a ten (10%) percent buyer’s premium.

25. 2024-02-19
    listed $53,900 Active 288-char remark

    Show marketing remark (288 chars)

    Online Duplex Auction! Bidding Ends: Thursday, March 21, 2024 at 12:00 pm. Duplex has the Old West End charm, established neighborhood, natural wood work, and hardwood floors. income producing and never offered before! Property will be sold with a ten (10%) percent buyer’s premium.

26. 2023-11-09
    soldstatus $82,500

ⓘ 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: $1,775 · $148/mo
• Projected year-2 tax: $1,775 · $148/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: $24,516
• − Mortgage interest: −$2,185
• − Property taxes: −$1,775
• − Insurance: −$195
• − Repairs & maintenance: −$1,961
• − Management: −$1,961
• − Depreciation: −$1,135
• Taxable income: $15,305
• Est. tax owed @ 24.0%: −$3,673
• After-tax cash flow: $11,271/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 · 437,818 people
• City population: 280,811
• Metro: Toledo, OH
• Population (ZIP): 4,057
• Household income: $38,369
• Rent vs Own: 41.4% rent · 58.6% own
• Severe rent burden: 15.7

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: Majority Black (64%)
• Race & ethnicity: Black 64% White 29% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Romanian 5% Iranian 3% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

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: ▲ 4.65%
• Current HPI: 126.1457
• Rent YoY: —
• Metro: —
• 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

-52.7% since first listed

11 events — show timeline

• 2026-05-22 Listing Removed — NORIS
• 2026-05-20 Listed $39,000 NORIS
• 2026-04-12 Price Changed $79,000 NORIS
• 2025-11-13 Price Changed $94,900 NORIS
• 2025-10-28 Price Changed $99,000 NORIS
• 2025-10-14 Listed $115,000 NORIS
• 2024-04-12 Sold (Public Records) $107,800 Public Records
• 2024-04-10 Sold (MLS) $53,900 NORIS
• 2024-03-21 Pending — NORIS
• 2024-02-19 Listed $53,900 NORIS
• 2023-11-09 Sold (Public Records) $82,500 Public Records

Property tax history

+4.4%/yr

Latest (2025): $1,775 · +1.6% YoY. Source: county tax records.