4240 Burnham Ave · Toledo, OH 43612

$129,000

3 bd · 1.0 ba · 1,398 sqft · SingleFamily public records · 35 Days on market

Built 1926 5,200 sqft lot $92/sqft · 23% above area Est $104k · 23% over

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Why this score? — see what drove the D 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 +19.8/30.0
• DSCR +6.3/10.0
• 1% rule +4.6/10.0
• Rent growth +4.0/5.0
• 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

This one shows well and is priced right!! Solid house with updates. Den can easily be a 4th bedroom. Water supply lines are missing in basement.

Key facts

• 5,200 sq ft lot
• Garage
• Built 1926

Property features AI

Exterior

• Parking: Detached garage; Driveway; Concrete parking surfaces; 1 garage space
• Utilities: Cable connected; Electricity connected; Natural gas connected; Public sewer; Public water; Sewer connected; Water connected
• Home design: Single-family residence (house); Two levels / 2 stories; Not attached to other structures; No common walls
• Construction: Aluminum and vinyl siding; Block foundation; Shingle roof; Built with two levels
• Exterior features: Front porch; Chain link fencing

Interior

• Kitchen: Dishwasher; Gas range; Refrigerator
• Bedrooms: Bedroom 2 on the upper level; Bedroom 3 on the upper level; Additional upper-level room (10 x 8) used as a sun room
• Flooring: Carpet; Luxury vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Eat-in kitchen; Screens on windows; Unfinished basement; 7 total rooms
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $154 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (4.4% below list).
• Recommended offer: $123k (4.4% below list) — sets the bar for 1% rule.

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; 38 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 $892 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.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y 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 $100k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,350 (4.4% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.96% ✗
• Cap rate: 7.72%
• Cash-on-cash: 5.10%
• DSCR: 1.23
• GRM: 8.7

CMA / ARV

• ARV (median comp): $104,494
• List price: $129,000
• Delta: 23.45%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
650 Dryden Dr	0.06mi	3/1.0	1,248 (-11%)	1mo	$75,000	$60	79
4321 Burnham Ave	0.07mi	3/1.5	1,256 (-10%)	0mo	$85,000	$68	77
3948 Vermaas Ave	0.28mi	3/1.0	1,296 (-7%)	1mo	$60,000	$46	74
3940 Vermaas Ave	0.30mi	3/1.0	1,305 (-7%)	2mo	$70,000	$54	74
4227 Caroline Ave	0.05mi	3/1.5	1,210 (-13%)	0mo	$134,500	$111	73
3938 Berkeley Dr	0.51mi	3/1.0	1,472 (+5%)	1mo	$120,000	$82	67
3868 Eggeman Ave	0.42mi	3/1.0	1,262 (-10%)	1mo	$70,000	$55	63
3713 Drexel Dr	0.73mi	3/1.0	1,356 (-3%)	1mo	$115,000	$85	60
4228 N Lockwood Ave	0.56mi	3/2.0	1,493 (+7%)	0mo	$85,000	$57	58
4314 N Haven Ave	0.51mi	3/1.0	1,564 (+12%)	0mo	$140,500	$90	56
4125 N Lockwood Ave	0.60mi	3/1.5	1,506 (+8%)	2mo	$109,900	$73	56
439 W Capistrano Ave	0.65mi	3/1.0	1,244 (-11%)	1mo	$116,000	$93	50

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: -5.3%
• Equity multiple: 0.80×
• Total profit: $-7,298
• Equity at exit: $19,234

10-year hold

• IRR: 7.5%
• Equity multiple: 1.64×
• Total profit: $22,939
• Equity at exit: $11,154

Cash invested: $36,120 (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: 8.7×

Monthly cashflow live

• Estimated rent: $1,234 high
• Mortgage (P&I): −$676
• Tax from tax record: −$91 /mo · $1,088/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $154

Break-even live

Break-even rent $1,039

Max offer price $129,000

Occupancy floor 83%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4220 Caroline Ave Toledo, OH	3.0	1.0	944	$1,095	$1.16	43d	1	0.07mi
4140 Caroline Ave Toledo, OH	3.0	1.5	1378	$1,650	$1.20	23d	1	0.09mi
4124 Vermaas Ave Toledo, OH	2.0	1.0	1245	$997	$0.80	43d	1	0.10mi
4129 Vermaas Ave Toledo, OH	3.0	1.5	1385	$1,250	$0.90	43d	1	0.11mi
4039 Vermaas Ave Toledo, OH	2.0	1.0	900	$900	$1.00	23d	1	0.16mi
4406 Asbury Dr Toledo, OH	4.0	2.0	1089	$1,550	$1.42	14d	1	0.21mi
3905 Peru St Toledo, OH	4.0	3.0	1548	$1,300	$0.84	21d	1	0.26mi
3950 Woodhaven Dr Toledo, OH	2.0	1.0	1072	$745	$0.69	23d	1	0.27mi
1016 Mallett St Unit 1 Toledo, OH	2.0	1.0	1300	$900	$0.69	43d	1	0.40mi
4158 Mayfield Dr Toledo, OH	2.0	1.0	960	$850	$0.89	14d	1	0.44mi
4138 N Lockwood Ave Toledo, OH	2.0	1.0	1300	$1,050	$0.81	23d	1	0.56mi
4459 N Haven Ave Toledo, OH	3.0	1.0	1416	$1,200	$0.85	14d	1	0.58mi
1014 Berdan Ave Toledo, OH	3.0	1.0	1215	$1,200	$0.99	43d	1	0.60mi
3615 Berkeley Dr Toledo, OH	3.0	1.0	1096	$1,400	$1.28	14d	1	0.72mi
3915 Willys Pkwy Unit 3915 Toledo, OH	3.0	1.0	1080	$800	$0.74	21d	1	0.76mi
4223 Birchall Rd Toledo, OH	3.0	1.0	1338	$1,395	$1.04	23d	1	0.90mi
3805 Hoiles Ave Toledo, OH	3.0	1.0	1370	$1,025	$0.75	23d	1	0.93mi
3725 Hoiles Ave Toledo, OH	3.0	1.0	1180	$1,245	$1.06	23d	1	0.94mi
1338 Crestwood Rd Toledo, OH	3.0	1.0	1000	$1,250	$1.25	14d	1	0.94mi
3541 Willys Pkwy Toledo, OH	3.0	1.0	1113	$1,400	$1.26	43d	1	0.95mi
4120 Parrakeet Ave Toledo, OH	3.0	2.0	1410	$1,450	$1.03	43d	1	0.99mi
614 Cadillac Ct Toledo, OH	3.0	1.0	1581	$1,075	$0.68	23d	1	1.01mi
610 Cadillac Ct Toledo, OH	3.0	1.0	1409	$1,050	$0.75	23d	1	1.01mi
3713 Hazelhurst Ave Toledo, OH	3.0	1.5	1352	$1,700	$1.26	43d	1	1.01mi
1477 W Sylvania Ave Toledo, OH	3.0	1.0	1570	$1,250	$0.80	43d	1	1.04mi
5207 Bennett Rd Toledo, OH	2.0	2.0	1109	$1,200	$1.08	14d	1	1.05mi
4038 Lyman Ave Toledo, OH	3.0	1.0	1175	$1,395	$1.19	43d	1	1.08mi
3606 Revere Dr Toledo, OH	4.0	1.0	1320	$1,500	$1.14	43d	1	1.12mi
31 W Oakland St Toledo, OH	4.0	1.0	1188	$1,249	$1.05	23d	1	1.14mi
1489 Berdan Ave Toledo, OH	3.0	1.0	1068	$1,250	$1.17	43d	1	1.17mi
59 E Hudson St Toledo, OH	3.0	1.0	1368	$1,100	$0.80	43d	1	1.18mi
4614 Commonwealth Ave Toledo, OH	3.0	1.5	1459	$1,295	$0.89	14d	1	1.20mi
927 W Northgate Pkwy Toledo, OH	2.0	1.0	896	$1,100	$1.23	14d	1	1.29mi
2907 Rockwood Pl Toledo, OH	3.0	1.0	1494	$1,100	$0.74	14d	1	1.33mi
405 E Manhattan Blvd Toledo, OH	2.0	1.0	1000	$900	$0.90	14d	1	1.35mi
425 Boston Pl Unit A Toledo, OH	2.0	1.0	1200	$895	$0.75	23d	1	1.41mi
4315 Garden Park Dr Toledo, OH	3.0	1.0	1268	$1,423	$1.12	23d	1	1.41mi
424 E Lake St Toledo, OH	3.0	1.0	1228	$1,075	$0.88	14d	1	1.44mi

Listing history 39 events

1. 2026-06-18
   days on market $129,000 Active 35 DOM
2. 2026-06-17
   days on market $129,000 Active 34 DOM
3. 2026-06-16
   days on market $129,000 Active 33 DOM
4. 2026-06-15
   days on market $129,000 Active 32 DOM
5. 2026-06-14
   days on market $129,000 Active 30 DOM
6. 2026-06-10
   days on market $129,000 Active 27 DOM
7. 2026-06-09
   days on market $129,000 Active 26 DOM
8. 2026-06-08
   days on market $129,000 Active 25 DOM
9. 2026-06-07
   days on market $129,000 Active 24 DOM
10. 2026-06-05
    days on market $129,000 Active 21 DOM
11. 2026-06-03
    days on market $129,000 Active 20 DOM
12. 2026-06-02
    days on market $129,000 Active 19 DOM
13. 2026-06-01
    days on market $129,000 Active 18 DOM
14. 2026-05-31
    days on market $129,000 Active 17 DOM
15. 2026-05-30
    days on market $129,000 Active 16 DOM
16. 2026-05-14
    listed $129,000 Active 183-char remark
17. 2025-11-26
    historical $1,250
18. 2025-11-12
    listed $1,250
19. 2022-10-06
    soldstatus $100,000
20. 2022-09-30
    status Pending 363-char remark

    Show marketing remark (363 chars)

    Affordable, Adorable, Wonderful Street Appeal! Completely refinished home! Nothing is better than a new Concrete Driveway. Welcoming Front Porch. Even has a flex room where you can use your imagination as to its use. Up and coming revitalized neighborhood.This GEM is move in ready- just waiting for you! Did I mention the abundant cabinet storage in the Kitchen?

21. 2022-09-30
    soldstatus $100,000 Closed 363-char remark

    Show marketing remark (363 chars)

    Affordable, Adorable, Wonderful Street Appeal! Completely refinished home! Nothing is better than a new Concrete Driveway. Welcoming Front Porch. Even has a flex room where you can use your imagination as to its use. Up and coming revitalized neighborhood.This GEM is move in ready- just waiting for you! Did I mention the abundant cabinet storage in the Kitchen?

22. 2022-09-30
    price $100,000 363-char remark

    Show marketing remark (363 chars)

    Affordable, Adorable, Wonderful Street Appeal! Completely refinished home! Nothing is better than a new Concrete Driveway. Welcoming Front Porch. Even has a flex room where you can use your imagination as to its use. Up and coming revitalized neighborhood.This GEM is move in ready- just waiting for you! Did I mention the abundant cabinet storage in the Kitchen?

23. 2022-08-26
    historical Contingent 363-char remark

    Show marketing remark (363 chars)

    Affordable, Adorable, Wonderful Street Appeal! Completely refinished home! Nothing is better than a new Concrete Driveway. Welcoming Front Porch. Even has a flex room where you can use your imagination as to its use. Up and coming revitalized neighborhood.This GEM is move in ready- just waiting for you! Did I mention the abundant cabinet storage in the Kitchen?

24. 2022-08-25
    listed $99,900 Active 363-char remark

    Show marketing remark (363 chars)

    Affordable, Adorable, Wonderful Street Appeal! Completely refinished home! Nothing is better than a new Concrete Driveway. Welcoming Front Porch. Even has a flex room where you can use your imagination as to its use. Up and coming revitalized neighborhood.This GEM is move in ready- just waiting for you! Did I mention the abundant cabinet storage in the Kitchen?

25. 2022-08-07
    historical $99,900 363-char remark

    Show marketing remark (363 chars)

    Affordable, Adorable, Wonderful Street Appeal! Completely refinished home! Nothing is better than a new Concrete Driveway. Welcoming Front Porch. Even has a flex room where you can use your imagination as to its use. Up and coming revitalized neighborhood.This GEM is move in ready- just waiting for you! Did I mention the abundant cabinet storage in the Kitchen?

26. 2011-02-10
    soldstatus $23,100

    Show marketing remark (144 chars)

    This one shows well and is priced right!! Solid house with updates. Den can easily be a 4th bedroom. Water supply lines are missing in basement.

27. 2011-01-22
    price $23,100

    Show marketing remark (144 chars)

    This one shows well and is priced right!! Solid house with updates. Den can easily be a 4th bedroom. Water supply lines are missing in basement.

28. 2010-12-14
    listed $19,900

    Show marketing remark (144 chars)

    This one shows well and is priced right!! Solid house with updates. Den can easily be a 4th bedroom. Water supply lines are missing in basement.

29. 2010-10-22
    historical
30. 2010-08-20
    listed $29,900
31. 2010-06-28
    historical
32. 2009-06-09
    listed $69,000
33. 2007-09-18
    historical
34. 2007-06-06
    listed $86,000
35. 2007-05-30
    historical
36. 2006-10-31
    listed $86,000
37. 2006-10-30
    historical
38. 2006-04-27
    listed $95,300
39. 1997-04-21
    soldstatus $54,900

ⓘ 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: $1,088 · $91/mo
• Projected year-2 tax: $1,550 · $129/mo
• Expected delta: +$462/yr (+$39/mo · 42.5%)

ⓘ 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,802
• − Mortgage interest: −$7,226
• − Property taxes: −$1,088
• − Insurance: −$645
• − Repairs & maintenance: −$1,184
• − Management: −$1,184
• − Depreciation: −$3,753
• Taxable loss: −$278
• Est. tax savings @ 24.0%: +$67
• After-tax cash flow: $1,910/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

-63.8% since first listed

25 events — show timeline

• 2026-05-23 Price Changed $19,900 NORIS
• 2026-05-14 Listed $129,000 NORIS
• 2025-11-26 Rental Removed $1,250 APPFOLIO
• 2025-11-12 Listed for Rent $1,250 APPFOLIO
• 2022-10-06 Sold (Public Records) $100,000 Public Records
• 2022-09-30 Pending — NORIS
• 2022-09-30 Price Changed $100,000 NORIS
• 2022-09-30 Sold (MLS) $100,000 NORIS
• 2022-08-26 Contingent — NORIS
• 2022-08-25 Listed $99,900 NORIS
• 2022-08-07 Coming Soon $99,900 NORIS
• 2011-02-10 Sold (MLS) $23,100 NORIS
• 2011-01-22 Price Changed $23,100 NORIS
• 2010-12-14 Listed $19,900 NORIS
• 2010-10-22 Listing Removed — NORIS
• 2010-08-20 Listed $29,900 NORIS
• 2010-06-28 Listing Removed — NORIS
• 2009-06-09 Listed $69,000 NORIS
• 2007-09-18 Listing Removed — NORIS
• 2007-06-06 Listed $86,000 NORIS
• 2007-05-30 Listing Removed — NORIS
• 2006-10-31 Listed $86,000 NORIS
• 2006-10-30 Listing Removed — NORIS
• 2006-04-27 Listed $95,300 NORIS
• 1997-04-21 Sold (Public Records) $54,900 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,088 · +1.2% YoY. Source: county tax records.