3912 Martha Ave · Toledo, OH 43612

$80,000

3 bd · 1.0 ba · 1,368 sqft · SingleFamily public records · 4 Days on market

Built 1913 5,401 sqft lot Est $93k · 14% under

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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
• ARV discount +13.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.0/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wonderful two story home with a lovely front porch. This home features beautiful wood wook throughout. Large living room with decorative fireplace and french door to dining room. Bright cheerful updated kitchen. Walk up attic space that could be finished. Fenced in yard with 2 car garage. Lots of flowers to enjoy. Roof - garage 3 year old, House 5.5 years old. Get inside today.

Key facts

• Newer roof
• Large garden tub
• 5,401 sq ft lot

Tags

• NEWER ROOF
• LARGE GARDEN TUB

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $369 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Cap rate 11.8% 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: Whittier Elementary School (math 6% / reading 13%, grade F, #1,505 of 1,584 statewide, top 95%, 509 students, 0% FRL); Start High School (math 11% / reading 33%, grade F, #672 of 781 statewide, top 86%, 1,242 students, 50% 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 (+6.0%/yr); 92 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 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 + 6.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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.
• Current owner paid $65k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,000

Questions for the listing agent

1. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.51% ✓
• Cap rate: 11.83%
• Cash-on-cash: 19.76%
• DSCR: 1.88
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $93,024
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3713 Drexel Dr	0.23mi	3/1.0	1,356 (-1%)	1mo	$115,000	$85	86
3938 Berkeley Dr	0.08mi	3/1.0	1,472 (+8%)	1mo	$120,000	$82	83
3940 Vermaas Ave	0.28mi	3/1.0	1,305 (-5%)	2mo	$70,000	$54	78
3948 Vermaas Ave	0.28mi	3/1.0	1,296 (-5%)	1mo	$60,000	$46	77
3868 Eggeman Ave	0.30mi	3/1.0	1,262 (-8%)	1mo	$70,000	$55	72
3514 Willys Pkwy	0.48mi	3/1.5	1,312 (-4%)	1mo	$64,900	$49	68
650 Dryden Dr	0.49mi	3/1.0	1,248 (-9%)	1mo	$75,000	$60	62
4228 N Lockwood Ave	0.40mi	3/2.0	1,493 (+9%)	0mo	$85,000	$57	62
4321 Burnham Ave	0.53mi	3/1.5	1,256 (-8%)	0mo	$85,000	$68	59
4227 Caroline Ave	0.51mi	3/1.5	1,210 (-12%)	0mo	$134,500	$111	54
4314 N Haven Ave	0.46mi	3/1.0	1,564 (+14%)	0mo	$140,500	$90	54
4218 Parrakeet Ave	0.72mi	3/1.0	1,163 (-15%)	2mo	$107,500	$92	40

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 · 6.01% rent growth · sell at horizon

5-year hold

• IRR: 15.3%
• Equity multiple: 1.64×
• Total profit: $14,324
• Equity at exit: $11,928

10-year hold

• IRR: 26.2%
• Equity multiple: 3.65×
• Total profit: $59,280
• Equity at exit: $6,917

Cash invested: $22,400 (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 43612

• Home prices YoY: -17.5%
• Rents YoY: 6.0%
• Active inventory: 92
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,205 high
• Mortgage (P&I): −$420
• Tax from tax record: −$130 /mo · $1,562/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $369

Break-even live

Break-even rent $738

Max offer price $80,000

Occupancy floor 64%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1014 Berdan Ave Toledo, OH	3.0	1.0	1215	$1,200	$0.99	43d	1	0.14mi
1016 Mallett St Unit 1 Toledo, OH	2.0	1.0	1300	$900	$0.69	43d	1	0.20mi
3615 Berkeley Dr Toledo, OH	3.0	1.0	1096	$1,400	$1.28	14d	1	0.26mi
4039 Vermaas Ave Toledo, OH	2.0	1.0	900	$900	$1.00	23d	1	0.31mi
4158 Mayfield Dr Toledo, OH	2.0	1.0	960	$850	$0.89	14d	1	0.31mi
4138 N Lockwood Ave Toledo, OH	2.0	1.0	1300	$1,050	$0.81	23d	1	0.35mi
4129 Vermaas Ave Toledo, OH	3.0	1.5	1385	$1,250	$0.90	43d	1	0.35mi
3950 Woodhaven Dr Toledo, OH	2.0	1.0	1072	$745	$0.69	23d	1	0.35mi
4124 Vermaas Ave Toledo, OH	2.0	1.0	1245	$997	$0.80	43d	1	0.36mi
3915 Willys Pkwy Unit 3915 Toledo, OH	3.0	1.0	1080	$800	$0.74	21d	1	0.37mi
3905 Peru St Toledo, OH	4.0	3.0	1548	$1,300	$0.84	21d	1	0.38mi
4140 Caroline Ave Toledo, OH	3.0	1.5	1378	$1,650	$1.20	23d	1	0.48mi
3541 Willys Pkwy Toledo, OH	3.0	1.0	1113	$1,400	$1.26	43d	1	0.48mi
3805 Hoiles Ave Toledo, OH	3.0	1.0	1370	$1,025	$0.75	23d	1	0.51mi
3725 Hoiles Ave Toledo, OH	3.0	1.0	1180	$1,245	$1.06	23d	1	0.51mi
4220 Caroline Ave Toledo, OH	3.0	1.0	944	$1,095	$1.16	43d	1	0.51mi
4406 Asbury Dr Toledo, OH	4.0	2.0	1089	$1,550	$1.42	14d	1	0.55mi
3713 Hazelhurst Ave Toledo, OH	3.0	1.5	1352	$1,700	$1.26	43d	1	0.59mi
4459 N Haven Ave Toledo, OH	3.0	1.0	1416	$1,200	$0.85	14d	1	0.64mi
3606 Revere Dr Toledo, OH	4.0	1.0	1320	$1,500	$1.14	43d	1	0.67mi
4223 Birchall Rd Toledo, OH	3.0	1.0	1338	$1,395	$1.04	23d	1	0.68mi
1477 W Sylvania Ave Toledo, OH	3.0	1.0	1570	$1,250	$0.80	43d	1	0.70mi
4120 Parrakeet Ave Toledo, OH	3.0	2.0	1410	$1,450	$1.03	43d	1	0.70mi
614 Cadillac Ct Toledo, OH	3.0	1.0	1581	$1,075	$0.68	23d	1	0.76mi
1489 Berdan Ave Toledo, OH	3.0	1.0	1068	$1,250	$1.17	43d	1	0.76mi
610 Cadillac Ct Toledo, OH	3.0	1.0	1409	$1,050	$0.75	23d	1	0.76mi
4038 Lyman Ave Toledo, OH	3.0	1.0	1175	$1,395	$1.19	43d	1	0.77mi
1338 Crestwood Rd Toledo, OH	3.0	1.0	1000	$1,250	$1.25	14d	1	0.98mi
2907 Rockwood Pl Toledo, OH	3.0	1.0	1494	$1,100	$0.74	14d	1	1.04mi
31 W Oakland St Toledo, OH	4.0	1.0	1188	$1,249	$1.05	23d	1	1.11mi
4614 Commonwealth Ave Toledo, OH	3.0	1.5	1459	$1,295	$0.89	14d	1	1.11mi
1731 Mansfield Rd Toledo, OH	3.0	1.0	1138	$1,195	$1.05	23d	1	1.16mi
4315 Garden Park Dr Toledo, OH	3.0	1.0	1268	$1,423	$1.12	23d	1	1.17mi
425 Boston Pl Unit A Toledo, OH	2.0	1.0	1200	$895	$0.75	23d	1	1.18mi
59 E Hudson St Toledo, OH	3.0	1.0	1368	$1,100	$0.80	43d	1	1.22mi
1846 Loxley Rd Toledo, OH	2.0	1.0	876	$900	$1.03	43d	1	1.27mi
1718 Giant St Toledo, OH	3.0	1.0	1080	$1,395	$1.29	14d	1	1.30mi
3683 Upton Ave Toledo, OH	3.0	1.0	1119	$1,100	$0.98	43d	1	1.30mi
1573 Jermain Dr Toledo, OH	3.0	1.0	1254	$1,195	$0.95	14d	1	1.32mi
960 W Delaware Ave Toledo, OH	3.0	1.0	1224	$1,050	$0.86	23d	1	1.37mi

Listing history 9 events

1. 2026-06-16
   status $80,000 Active 4 DOM
2. 2025-09-09
   status Pending
3. 2025-09-05
   listed $80,000 Active
4. 2018-11-28
   soldstatus $64,900
5. 2018-11-19
   soldstatus $64,900 387-char remark

   Show marketing remark (387 chars)

   Wonderful two story home with a lovely front porch. This home features beautiful wood wook throughout. Large living room with decorative fireplace and french door to dining room. Bright cheerful updated kitchen. Walk up attic space that could be finished. Fenced in yard with 2 car garage. Lots of flowers to enjoy. Roof - garage 3 year old, House 5.5 years old. Get inside today.

6. 2018-10-17
   price $64,900 387-char remark

   Show marketing remark (387 chars)

   Wonderful two story home with a lovely front porch. This home features beautiful wood wook throughout. Large living room with decorative fireplace and french door to dining room. Bright cheerful updated kitchen. Walk up attic space that could be finished. Fenced in yard with 2 car garage. Lots of flowers to enjoy. Roof - garage 3 year old, House 5.5 years old. Get inside today.

7. 2018-05-16
   listed $64,500 387-char remark

   Show marketing remark (387 chars)

   Wonderful two story home with a lovely front porch. This home features beautiful wood wook throughout. Large living room with decorative fireplace and french door to dining room. Bright cheerful updated kitchen. Walk up attic space that could be finished. Fenced in yard with 2 car garage. Lots of flowers to enjoy. Roof - garage 3 year old, House 5.5 years old. Get inside today.

8. 1988-11-14
   soldstatus $38,000
9. 1955-07-12
   soldstatus $12,000

ⓘ 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: $1,562 · $130/mo
• Projected year-2 tax: $1,562 · $130/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 ≥101°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: $14,458
• − Mortgage interest: −$4,481
• − Property taxes: −$1,562
• − Insurance: −$400
• − Repairs & maintenance: −$1,157
• − Management: −$1,157
• − Depreciation: −$2,327
• Taxable income: $3,375
• Est. tax owed @ 24.0%: −$810
• After-tax cash flow: $3,616/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): 28,480
• Household income: $50,728
• Rent vs Own: 45.4% rent · 54.6% own
• Severe rent burden: 1203.0

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: Majority White (63%)
• Race & ethnicity: White 63% Black 23% Two or more races 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Romanian 9% Lithuanian 3% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% 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: ▼ -50.05%
• Current HPI: 235.5389
• Rent YoY: ▲ 6.01%
• 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

+566.7% since first listed

8 events — show timeline

• 2025-09-09 Pending — NORIS
• 2025-09-05 Listed $80,000 NORIS
• 2018-11-28 Sold (Public Records) $64,900 Public Records
• 2018-11-19 Sold (MLS) $64,900 NORIS
• 2018-10-17 Price Changed $64,900 NORIS
• 2018-05-16 Listed $64,500 NORIS
• 1988-11-14 Sold (Public Records) $38,000 Public Records
• 1955-07-12 Sold (Public Records) $12,000 Public Records

Property tax history

+10.7%/yr

Latest (2025): $1,562 · +0.6% YoY. Source: county tax records.