708 Bowman St · Toledo, OH 43609

$68,000

2 bd · 1.0 ba · 769 sqft · SingleFamily public records · 259 Days on market

Built 1916 4,129 sqft lot $88/sqft · 52% 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 +28.5/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Appreciation +5.4/10.0
• Rent growth +4.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks MLS

NOTICE: We are not considering seller financing or creative financing offers that do not consist of us in recorded first lien position with a minimum of 30% down. Thank you for understanding! This property is being sold as part of an 46-unit portfolio or a 5-unit sub-portfolio. In place cap is ~8.5%, pro forma cap is ~11.0%, and occupancy is 100%. Asking price for the 46-unit portfolio is $3.57M and asking price for the 5-unit sub-portfolio is $490K. The sub-portfolio includes 712 Balfe, 708 Bowman, 2145 Dorr, 1111 Orchard, and 1023 Prouty. The entire 46-unit list can be found in the attachments. Property is occupied and photos are from the last time it was vacant.

Key facts

• 4,129 sq ft lot
• Built 1916
• Listed 259 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $222 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($821 rent vs $68k).
• Recommended offer: $60k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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-, schools D-, crime 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.
• Market conditions: Rents rising fast (+7.8%/yr); 99 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% 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).

Forward outlook

• In year one you build about $980 of equity ($470 loan paydown + $510 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 $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 259 days — a 12% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y ago; this cycle's ask has dropped $14k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $37k; list at $68k implies a 84% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 259 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 1916 — 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: 1.21% ✓
• Cap rate: 10.21%
• Cash-on-cash: 14.00%
• DSCR: 1.62
• GRM: 6.9

CMA / ARV

• ARV (median comp): $44,832
• List price: $68,000
• Delta: 51.68%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
570 Orchard St	0.34mi	2/1.5	836 (+9%)	7mo	$40,000	$48	62
1016 Orchard St	0.35mi	2/1.0	680 (-12%)	11mo	$65,000	$96	55

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: 18.8%
• Equity multiple: 1.98×
• Total profit: $18,734
• Equity at exit: $22,332

10-year hold

• IRR: 25.1%
• Equity multiple: 4.42×
• Total profit: $65,083
• Equity at exit: $29,006

Cash invested: $19,040 (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: 6.9×

Monthly cashflow live

• Estimated rent: $821 high
• Mortgage (P&I): −$357
• Tax from tax record: −$42 /mo · $503/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$173
• Net cashflow: $222

Break-even live

Break-even rent $540

Max offer price $68,000

Occupancy floor 68%

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
771 Orchard St Unit 7715 Toledo, OH	2.0	1.0	1086	$645	$0.59	23d	1	0.04mi
827 Colburn St Toledo, OH	2.0	1.0	1092	$750	$0.69	44d	1	0.18mi
1037 Orchard St Toledo, OH	2.0	1.0	696	$820	$1.18	21d	1	0.39mi
416 Maumee Ave Unit D Toledo, OH	1.0	1.0	622	$475	$0.76	44d	1	0.56mi
223 Charles St Toledo, OH	2.0	1.0	612	$875	$1.43	44d	1	0.66mi
244 Knower St Toledo, OH	3.0	1.0	1120	$995	$0.89	14d	1	0.74mi
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	44d	1	0.86mi
1418 Colburn St Toledo, OH	3.0	1.0	992	$1,200	$1.21	14d	1	0.87mi
705 Nicholas St Toledo, OH	2.0	1.0	1037	$900	$0.87	44d	1	1.04mi
2594 Broadway St Toledo, OH	2.0	1.0	1076	$825	$0.77	44d	1	1.05mi
538 Nicholas St Unit B Toledo, OH	1.0	1.0	600	$600	$1.00	44d	1	1.08mi
1521 Emma St Unit LABS 1521 Emma St, B 43051619729 Toledo, OH	1.0	1.0	975	$900	$0.92	44d	1	1.11mi
1734 Arlington Ave Toledo, OH	2.0	1.0	700	$800	$1.14	14d	1	1.37mi
707 Toronto Ave Toledo, OH	1.0	1.0	750	$775	$1.03	23d	1	1.38mi
400 Nebraska Ave Toledo, OH	1.0	1.0	664	$1,129	$1.70	14d	1	1.45mi

Listing history 32 events

1. 2026-06-18
   days on market $68,000 Active 259 DOM
2. 2026-06-17
   days on market $68,000 Active 258 DOM
3. 2026-06-16
   days on market $68,000 Active 257 DOM
4. 2026-06-15
   days on market $68,000 Active 256 DOM
5. 2026-06-14
   days on market $68,000 Active 254 DOM
6. 2026-06-10
   days on market $68,000 Active 251 DOM
7. 2026-06-09
   days on market $68,000 Active 250 DOM
8. 2026-06-08
   days on market $68,000 Active 249 DOM
9. 2026-06-07
   days on market $68,000 Active 248 DOM
10. 2026-06-05
    days on market $68,000 Active 245 DOM
11. 2026-06-03
    days on market $68,000 Active 244 DOM
12. 2026-06-02
    days on market $68,000 Active 243 DOM
13. 2026-06-01
    days on market $68,000 Active 242 DOM
14. 2026-05-31
    days on market $68,000 Active 241 DOM
15. 2026-05-30
    days on market $68,000 Active 240 DOM
16. 2026-01-14
    price $75,000 675-char remark

    Show marketing remark (675 chars)

    NOTICE: We are not considering seller financing or creative financing offers that do not consist of us in recorded first lien position with a minimum of 30% down. Thank you for understanding! This property is being sold as part of an 46-unit portfolio or a 5-unit sub-portfolio. In place cap is ~8.5%, pro forma cap is ~11.0%, and occupancy is 100%. Asking price for the 46-unit portfolio is $3.57M and asking price for the 5-unit sub-portfolio is $490K. The sub-portfolio includes 712 Balfe, 708 Bowman, 2145 Dorr, 1111 Orchard, and 1023 Prouty. The entire 46-unit list can be found in the attachments. Property is occupied and photos are from the last time it was vacant.

17. 2025-11-10
    price $78,760 675-char remark

    Show marketing remark (675 chars)

    NOTICE: We are not considering seller financing or creative financing offers that do not consist of us in recorded first lien position with a minimum of 30% down. Thank you for understanding! This property is being sold as part of an 46-unit portfolio or a 5-unit sub-portfolio. In place cap is ~8.5%, pro forma cap is ~11.0%, and occupancy is 100%. Asking price for the 46-unit portfolio is $3.57M and asking price for the 5-unit sub-portfolio is $490K. The sub-portfolio includes 712 Balfe, 708 Bowman, 2145 Dorr, 1111 Orchard, and 1023 Prouty. The entire 46-unit list can be found in the attachments. Property is occupied and photos are from the last time it was vacant.

18. 2025-10-14
    price $37,000 137-char remark

    Show marketing remark (137 chars)

    Great home for the money with an updated Kitchen and new main water line! Wonderful addition to your portfolio or first- time homebuyer.

19. 2025-10-09
    price $34,000
20. 2025-10-09
    price $27,500
21. 2025-09-30
    listed $82,500 Active 675-char remark

    Show marketing remark (675 chars)

    NOTICE: We are not considering seller financing or creative financing offers that do not consist of us in recorded first lien position with a minimum of 30% down. Thank you for understanding! This property is being sold as part of an 46-unit portfolio or a 5-unit sub-portfolio. In place cap is ~8.5%, pro forma cap is ~11.0%, and occupancy is 100%. Asking price for the 46-unit portfolio is $3.57M and asking price for the 5-unit sub-portfolio is $490K. The sub-portfolio includes 712 Balfe, 708 Bowman, 2145 Dorr, 1111 Orchard, and 1023 Prouty. The entire 46-unit list can be found in the attachments. Property is occupied and photos are from the last time it was vacant.

22. 2023-03-10
    soldstatus $37,000 Closed 137-char remark

    Show marketing remark (137 chars)

    Great home for the money with an updated Kitchen and new main water line! Wonderful addition to your portfolio or first- time homebuyer.

23. 2023-02-28
    status Pending 137-char remark

    Show marketing remark (137 chars)

    Great home for the money with an updated Kitchen and new main water line! Wonderful addition to your portfolio or first- time homebuyer.

24. 2023-02-02
    historical Contingent 137-char remark

    Show marketing remark (137 chars)

    Great home for the money with an updated Kitchen and new main water line! Wonderful addition to your portfolio or first- time homebuyer.

25. 2023-01-25
    listed $39,000 Active 137-char remark

    Show marketing remark (137 chars)

    Great home for the money with an updated Kitchen and new main water line! Wonderful addition to your portfolio or first- time homebuyer.

26. 2022-10-26
    listed $20,000 Active
27. 2004-05-07
    soldstatus $34,000
28. 2004-03-26
    listed $35,000
29. 2004-03-10
    soldstatus $27,500
30. 2003-12-12
    listed $29,900
31. 2003-12-09
    historical
32. 2003-09-09
    listed $29,900

ⓘ 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: $503 · $42/mo
• Projected year-2 tax: $782 · $65/mo
• Expected delta: +$279/yr (+$23/mo · 55.5%)

ⓘ 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: $9,858
• − Mortgage interest: −$3,809
• − Property taxes: −$503
• − Insurance: −$340
• − Repairs & maintenance: −$789
• − Management: −$789
• − Depreciation: −$1,978
• Taxable income: $1,650
• Est. tax owed @ 24.0%: −$396
• After-tax cash flow: $2,269/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

+150.8% since first listed

17 events — show timeline

• 2026-01-14 Price Changed $75,000 NORIS
• 2025-11-10 Price Changed $78,760 NORIS
• 2025-10-14 Price Changed $37,000 NORIS
• 2025-10-09 Price Changed $34,000 NORIS
• 2025-10-09 Price Changed $27,500 NORIS
• 2025-09-30 Listed $82,500 NORIS
• 2023-03-10 Sold (MLS) $37,000 NORIS
• 2023-02-28 Pending — NORIS
• 2023-02-02 Contingent — NORIS
• 2023-01-25 Listed $39,000 NORIS
• 2022-10-26 Listed $20,000 NORIS
• 2004-05-07 Sold (Public Records) $34,000 Public Records
• 2004-03-26 Listed $35,000 NORIS
• 2004-03-10 Sold (MLS) $27,500 NORIS
• 2003-12-12 Listed $29,900 NORIS
• 2003-12-09 Listing Removed — NORIS
• 2003-09-09 Listed $29,900 NORIS

Property tax history

-0.1%/yr

Latest (2025): $503 · +7.0% YoY. Source: county tax records.