1504 Upton Ave · Toledo, OH 43607

$64,900

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 27 Days on market

Built 1923 2,600 sqft lot $85/sqft · 17% above area Est $55k · 17% over

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

Listing remarks MLS

PAINT, FLOORING, LIGHT FIXTURES CAN MAKE THIS INTO COZY HOME! ADDITIONAL STORAGE SPACE ON REAR OF HOME. SOLD AS-IS.

Key facts

• 2,600 sq ft lot
• Parking
• Built 1923

Property features AI

Exterior

• Parking: Parking for 1 vehicle; Concrete driveway, off-street and on-street parking
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer
• Home design: Single-family residence; One level / 1 story; Not attached; no common walls
• Construction: Aluminum, vinyl and steel siding; Block foundation
• Exterior features: Awnings; Front porch; Shingle roof; City street frontage; Asphalt road surface

Interior

• Kitchen: Kitchen (main level)
• Bedrooms: Bedroom (main level); Bedroom 2 (main level)
• Flooring: Other flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating
• Interior features: Total of 5 rooms; Other interior features; Full basement
• Laundry & utility: Laundry in basement; Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $337 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($979 rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.5% 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; 19 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 84% 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

• Local home prices are declining (-3.0%/yr); year-one equity from $449 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 + 8.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y 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 $6k; list at $65k implies a 898% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,926 (1.5% below list)

Questions for the listing agent

1. Built in 1923 — 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: 12.52%
• Cash-on-cash: 22.25%
• DSCR: 1.99
• GRM: 5.5

CMA / ARV

• ARV (median comp): $55,328
• List price: $64,900
• Delta: 17.30%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
616 Waverly Ave	0.61mi	2/1.0	770 (+0%)	2mo	$53,900	$70	69
806 Evesham Ave	0.53mi	2/1.5	770 (+0%)	10mo	$85,000	$110	65
628 Waverly Ave	0.58mi	2/1.0	792 (+3%)	9mo	$48,500	$61	60
824 N University Ave	0.60mi	3/1.0 (+1)	797 (+4%)	1mo	$60,000	$75	60
1024 Coventry Ave	0.54mi	2/1.0	748 (-3%)	17mo	$31,000	$41	57
1614 Pinewood Ave	0.37mi	2/1.0	820 (+7%)	19mo	$48,500	$59	55
2211 Sanford St	0.71mi	2/1.0	783 (+2%)	15mo	$49,500	$63	51
1720 Perth St	0.68mi	2/1.0	808 (+5%)	12mo	$96,000	$119	50
1896 Parkdale Ave	0.21mi	2/1.0	871 (+13%)	23mo	$55,000	$63	48
908 Coventry Ave	0.59mi	2/1.0	860 (+12%)	6mo	$55,000	$64	48
743 Waverly Ave	0.48mi	2/1.0	708 (-8%)	22mo	$65,000	$92	46

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 20.5%
• Equity multiple: 1.89×
• Total profit: $16,121
• Equity at exit: $9,677

10-year hold

• IRR: 31.8%
• Equity multiple: 4.59×
• Total profit: $65,247
• Equity at exit: $5,611

Cash invested: $18,172 (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: 5.5×

Monthly cashflow live

• Estimated rent: $979 high
• Mortgage (P&I): −$340
• Tax from tax record: −$69 /mo · $830/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $337

Break-even live

Break-even rent $553

Max offer price $64,900

Occupancy floor 61%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1133 Parkside Blvd Toledo, OH	2.0	1.0	960	$850	$0.89	43d	1	0.45mi
2250 Torrey Hill Dr Unit 2254-5 Toledo, OH	1.0	1.0	563	$770	$1.37	43d	1	0.70mi
1785 Tecumseh St Toledo, OH	2.0	1.0	930	$900	$0.97	43d	1	0.73mi
1738 Milburn Ave Toledo, OH	2.0	1.0	1016	$650	$0.64	23d	1	0.83mi
2322 Upton Ave Toledo, OH	3.0	1.0	1000	$1,300	$1.30	43d	1	0.84mi
2030 Wyndhurst Rd Toledo, OH	2.0	1.0	1042	$950	$0.91	43d	1	0.87mi
2347 Rosedale Ave Toledo, OH	2.0	1.0	767	$875	$1.14	43d	1	0.88mi
2445 W Bancroft St Unit 2445-15 Toledo, OH	1.0	1.0	557	$625	$1.12	43d	1	0.92mi
1919 Ottawa Dr Unit 7 Toledo, OH	2.0	1.0	900	$800	$0.89	43d	1	0.92mi
2356 Torrey Hill Dr Unit 11 Toledo, OH	2.0	1.0	1050	$800	$0.76	43d	1	0.92mi
1919 Kensington Rd Toledo, OH	1.0	1.0	680	$775	$1.14	21d	1	0.92mi
2535 W Bancroft St Unit 8 Toledo, OH	2.0	1.0	900	$895	$0.99	43d	1	1.00mi
2637 Greenway St Toledo, OH	2.0	1.0	1082	$900	$0.83	43d	1	1.01mi
1026 Oakwood Ave Toledo, OH	2.0	1.0	1100	$850	$0.77	43d	1	1.08mi
932 Turner Ave Toledo, OH	2.0	1.0	960	$1,295	$1.35	14d	1	1.28mi
2716 Hoehler Dr Toledo, OH	1.0	1.0	720	$600	$0.83	43d	1	1.30mi
3803 Monroe St Toledo, OH	2.0	1.0	942	$850	$0.90	43d	1	1.33mi
3835 Monroe St Toledo, OH	2.0	1.0	1002	$950	$0.95	43d	1	1.38mi
2802 Gunckel Blvd Toledo, OH	2.0	1.0	860	$1,100	$1.28	43d	1	1.44mi

Listing history 28 events

1. 2026-06-18
   days on market $64,900 Active 27 DOM
2. 2026-06-17
   days on market $64,900 Active 26 DOM
3. 2026-06-16
   days on market $64,900 Active 25 DOM
4. 2026-06-15
   days on market $64,900 Active 24 DOM
5. 2026-06-14
   statusdays on market $64,900 Active 22 DOM
6. 2026-06-10
   days on market $64,900 Contingent 19 DOM
7. 2026-06-09
   days on market $64,900 Contingent 18 DOM
8. 2026-06-08
   days on market $64,900 Contingent 17 DOM
9. 2026-06-07
   days on market $64,900 Contingent 16 DOM
10. 2026-06-05
    days on market $64,900 Contingent 13 DOM
11. 2026-06-03
    days on market $64,900 Contingent 12 DOM
12. 2026-06-03
    status $64,900 Contingent 11 DOM
13. 2026-06-02
    days on market $64,900 Active 11 DOM
14. 2026-06-01
    days on market $64,900 Active 10 DOM
15. 2026-05-31
    days on market $64,900 Active 9 DOM
16. 2026-05-30
    days on market $64,900 Active 8 DOM
17. 2026-05-11
    historical $64,900 366-char remark
18. 2025-10-13
    price $6,500 115-char remark

    Show marketing remark (115 chars)

    PAINT, FLOORING, LIGHT FIXTURES CAN MAKE THIS INTO COZY HOME! ADDITIONAL STORAGE SPACE ON REAR OF HOME. SOLD AS-IS.

19. 2024-11-11
    historical
20. 2024-08-12
    price $64,900
21. 2024-07-13
    listed $69,900 Active
22. 2024-07-01
    historical
23. 2012-05-01
    historical
24. 2011-12-01
    listed $25,000
25. 2010-01-28
    soldstatus $6,500 115-char remark

    Show marketing remark (115 chars)

    PAINT, FLOORING, LIGHT FIXTURES CAN MAKE THIS INTO COZY HOME! ADDITIONAL STORAGE SPACE ON REAR OF HOME. SOLD AS-IS.

26. 2009-12-31
    listed $7,400 115-char remark

    Show marketing remark (115 chars)

    PAINT, FLOORING, LIGHT FIXTURES CAN MAKE THIS INTO COZY HOME! ADDITIONAL STORAGE SPACE ON REAR OF HOME. SOLD AS-IS.

27. 2009-10-29
    soldstatus $28,274
28. 1997-05-27
    soldstatus $26,400

ⓘ 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: $830 · $69/mo
• Projected year-2 tax: $921 · $77/mo
• Expected delta: +$91/yr (+$8/mo · 11.0%)

ⓘ 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: $11,749
• − Mortgage interest: −$3,635
• − Property taxes: −$830
• − Insurance: −$324
• − Repairs & maintenance: −$940
• − Management: −$940
• − Depreciation: −$1,888
• Taxable income: $3,191
• Est. tax owed @ 24.0%: −$766
• After-tax cash flow: $3,277/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

+145.8% since first listed

16 events — show timeline

• 2026-06-10 Relisted — NORIS
• 2026-06-02 Contingent — NORIS
• 2026-05-22 Listed $64,900 NORIS
• 2026-05-11 Coming Soon $64,900 NORIS
• 2025-10-13 Price Changed $6,500 NORIS
• 2024-11-11 Listing Removed — NORIS
• 2024-08-12 Price Changed $64,900 NORIS
• 2024-07-13 Listed $69,900 NORIS
• 2024-07-01 Coming Soon — NORIS
• 2012-05-01 Listing Removed — NORIS
• 2011-12-01 Listed $25,000 NORIS
• 2010-01-28 Sold (MLS) $6,500 NORIS
• 2010-01-20 Price Changed $7,400 NORIS
• 2009-12-31 Listed $7,400 NORIS
• 2009-10-29 Sold (Public Records) $28,274 Public Records
• 1997-05-27 Sold (Public Records) $26,400 Public Records

Property tax history

+3.3%/yr

Latest (2025): $830 · +1.8% YoY. Source: county tax records.