128 E Plumer St · Toledo, OH 43605

$70,000

3 bd · 1.0 ba · 1,530 sqft · SingleFamily public records · 116 Days on market

Built 1897 3,000 sqft lot $46/sqft · 25% below area Est $94k · 25% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.8/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property sits on two parcels and includes parcel 1330037, offering additional yard space and added value. The home is approximately 90% complete and just needs the finishing touches to make it move in ready. Interior updates have been started. Property will need kitchen cabinets and appliances, as there is currently no refrigerator or stove, and will also require a furnace and water heater. Great opportunity for an investor or buyer looking to finish out a project and build equity. Property can also be purchased as a package with 3244 Glenwood Avenue, Toledo, OH 43610. Sold as is. Cash only. No seller financing.

Key facts

• Two parcels
• Appliances
• Kitchen cabinets

Tags

• TWO PARCELS
• ADDITIONAL YARD SPACE
• INTERIOR UPDATES
• KITCHEN CABINETS
• APPLIANCES
• FURNACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $432 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.7% 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: Grove Patterson Academy Elementary School (math 47% / reading 66%, grade C+, #761 of 1,584 statewide, top 48%, 403 students, 38% FRL); Waite High School (math 12% / reading 24%, grade F, #687 of 781 statewide, top 88%, 997 students, 0% FRL) — zoned schools average 19% FRL vs 72% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 37% at this address vs 20% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Toledo City average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.4%/yr); 118 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $484 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 + 5.4% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y ago; this cycle's ask has dropped $10k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $23k; list at $70k implies a 204% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,700 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1897 — 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: 1.63% ✓
• Cap rate: 13.70%
• Cash-on-cash: 26.46%
• DSCR: 2.18
• GRM: 5.1

CMA / ARV

• ARV (median comp): $93,810
• List price: $70,000
• Delta: -25.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2251 Richmand Dr	0.44mi	3/2.0	1,538 (+0%)	6mo	$192,900	$125	70
1702 Pool St	0.18mi	4/1.0 (+1)	1,403 (-8%)	4mo	$140,000	$100	69
1453 Oak St	0.39mi	3/1.0	1,673 (+9%)	2mo	$99,000	$59	64
2260 Tracy Rd	0.48mi	3/1.5	1,520 (-1%)	12mo	$205,000	$135	64
2448 Norma Pl	0.72mi	3/2.0	1,524 (-0%)	1mo	$177,000	$116	61
148 W Foulkes St	0.17mi	3/1.0	1,300 (-15%)	12mo	$79,300	$61	57
1915 Sheffield Pl	0.51mi	4/2.0 (+1)	1,512 (-1%)	12mo	$160,000	$106	55
2444 Jamestown Dr	0.64mi	3/2.0	1,503 (-2%)	11mo	$220,000	$146	54
161 Dillrose Dr	0.46mi	3/1.5	1,336 (-13%)	6mo	$228,850	$171	50
1810 E Broadway St	0.71mi	3/2.5	1,595 (+4%)	11mo	$185,000	$116	45
217 Farnstead Dr	0.57mi	3/1.0	1,748 (+14%)	9mo	$201,500	$115	43
1353 Oak St	0.54mi	4/2.0 (+1)	1,668 (+9%)	11mo	$31,000	$19	42

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 · 5.37% rent growth · sell at horizon

5-year hold

• IRR: 22.9%
• Equity multiple: 1.97×
• Total profit: $18,990
• Equity at exit: $10,437

10-year hold

• IRR: 32.4%
• Equity multiple: 4.27×
• Total profit: $64,056
• Equity at exit: $6,052

Cash invested: $19,600 (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 43605

• Home prices YoY: -25.6%
• Rents YoY: 5.4%
• Active inventory: 118
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,144 high
• Mortgage (P&I): −$367
• Tax from tax record: −$75 /mo · $905/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $432

Break-even live

Break-even rent $597

Max offer price $70,000

Occupancy floor 57%

Sensitivity live

Price	-10% $472	-5% $452	+0% $432	+5% $412	+10% $393
Rent	-10% $342	-5% $387	+0% $432	+5% $477	+10% $523
Rate	-1.0pp $467	-0.5pp $450	base $432	+0.5pp $414	+1.0pp $396

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1537 Remington St Toledo, OH	3.0	1.0	1064	$1,095	$1.03	45d	1	0.41mi
606 Earl St Toledo, OH	3.0	1.5	1700	$1,150	$0.68	22d	1	1.01mi
921 Berry St Toledo, OH	4.0	1.0	1204	$1,350	$1.12	15d	1	1.17mi
834 Oak St Toledo, OH	3.0	1.0	1064	$900	$0.85	45d	1	1.19mi
908 Forsythe St Unit Downstairs Toledo, OH	3.0	1.0	1164	$950	$0.82	45d	1	1.21mi
908 Forsythe St Unit Upstairs Toledo, OH	2.0	1.0	1164	$900	$0.77	15d	1	1.21mi
1106 White St Toledo, OH	3.0	1.0	1200	$1,015	$0.85	15d	1	1.35mi
244 Knower St Toledo, OH	3.0	1.0	1120	$995	$0.89	15d	1	1.37mi

Listing history 34 events

1. 2026-06-21
   days on market $70,000 Active 116 DOM
2. 2026-06-18
   days on market $70,000 Active 113 DOM
3. 2026-06-17
   days on market $70,000 Active 112 DOM
4. 2026-06-16
   days on market $70,000 Active 111 DOM
5. 2026-06-15
   days on market $70,000 Active 110 DOM
6. 2026-06-14
   days on market $70,000 Active 108 DOM
7. 2026-06-10
   days on market $70,000 Active 105 DOM
8. 2026-06-09
   days on market $70,000 Active 104 DOM
9. 2026-06-08
   days on market $70,000 Active 103 DOM
10. 2026-06-07
    days on market $70,000 Active 102 DOM
11. 2026-06-05
    days on market $70,000 Active 99 DOM
12. 2026-06-03
    days on market $70,000 Active 98 DOM
13. 2026-06-02
    days on market $70,000 Active 97 DOM
14. 2026-06-01
    days on market $70,000 Active 96 DOM
15. 2026-05-31
    days on market $70,000 Active 95 DOM
16. 2026-05-30
    days on market $70,000 Active 94 DOM
17. 2026-04-23
    price $70,000 625-char remark

    Show marketing remark (625 chars)

    This property sits on two parcels and includes parcel 1330037, offering additional yard space and added value. The home is approximately 90% complete and just needs the finishing touches to make it move in ready. Interior updates have been started. Property will need kitchen cabinets and appliances, as there is currently no refrigerator or stove, and will also require a furnace and water heater. Great opportunity for an investor or buyer looking to finish out a project and build equity. Property can also be purchased as a package with 3244 Glenwood Avenue, Toledo, OH 43610. Sold as is. Cash only. No seller financing.

18. 2026-02-25
    listed $80,000 Active 625-char remark

    Show marketing remark (625 chars)

    This property sits on two parcels and includes parcel 1330037, offering additional yard space and added value. The home is approximately 90% complete and just needs the finishing touches to make it move in ready. Interior updates have been started. Property will need kitchen cabinets and appliances, as there is currently no refrigerator or stove, and will also require a furnace and water heater. Great opportunity for an investor or buyer looking to finish out a project and build equity. Property can also be purchased as a package with 3244 Glenwood Avenue, Toledo, OH 43610. Sold as is. Cash only. No seller financing.

19. 2025-10-14
    price $24,600 177-char remark

    Show marketing remark (177 chars)

    Plenty of space in this one! Located near Northwood, Hollywood Casino, and the new Glass City Metropark. The upstairs loft area can be used as additional living space or bedroom

20. 2024-09-10
    soldstatus $23,000
21. 2024-09-04
    soldstatus $22,000 Closed
22. 2024-08-28
    status Pending
23. 2024-02-14
    listed $29,500 Active
24. 2022-11-03
    historical
25. 2022-09-21
    price $30,000
26. 2022-08-24
    listed $35,000 Active
27. 2021-09-07
    soldstatus $24,600 Closed 177-char remark

    Show marketing remark (177 chars)

    Plenty of space in this one! Located near Northwood, Hollywood Casino, and the new Glass City Metropark. The upstairs loft area can be used as additional living space or bedroom

28. 2021-08-24
    status Pending 177-char remark

    Show marketing remark (177 chars)

    Plenty of space in this one! Located near Northwood, Hollywood Casino, and the new Glass City Metropark. The upstairs loft area can be used as additional living space or bedroom

29. 2021-08-17
    listed $25,000 Active 177-char remark

    Show marketing remark (177 chars)

    Plenty of space in this one! Located near Northwood, Hollywood Casino, and the new Glass City Metropark. The upstairs loft area can be used as additional living space or bedroom

30. 2020-06-06
    historical
31. 2019-12-10
    listed $20,000
32. 2019-07-31
    historical
33. 2019-01-31
    listed $29,900
34. 1997-10-20
    soldstatus $16,500

ⓘ 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: $905 · $75/mo
• Projected year-2 tax: $999 · $83/mo
• Expected delta: +$93/yr (+$8/mo · 10.3%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,731
• − Mortgage interest: −$3,921
• − Property taxes: −$905
• − Insurance: −$350
• − Repairs & maintenance: −$1,098
• − Management: −$1,098
• − Depreciation: −$2,036
• Taxable income: $4,321
• Est. tax owed @ 24.0%: −$1,037
• After-tax cash flow: $4,150/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): 24,441
• Household income: $39,118
• Rent vs Own: 51.9% rent · 48.1% own
• Severe rent burden: 1257.0

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 0.61)
• Race & ethnicity: White 57% Hispanic / Latino 21% Black 14% Two or more races 14%
• Hispanic origin (detail): Mexican 17% Puerto Rican 2%
• Common ancestry: Romanian 3% Lithuanian 2% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 91% English-only · Spanish 7% Arabic 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: ▼ -47.85%
• Current HPI: 138.6894
• Rent YoY: ▲ 5.37%
• 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

+324.2% since first listed

18 events — show timeline

• 2026-04-23 Price Changed $70,000 NORIS
• 2026-02-25 Listed $80,000 NORIS
• 2025-10-14 Price Changed $24,600 NORIS
• 2024-09-10 Sold (Public Records) $23,000 Public Records
• 2024-09-04 Sold (MLS) $22,000 NORIS
• 2024-08-28 Pending — NORIS
• 2024-02-14 Listed $29,500 NORIS
• 2022-11-03 Listing Removed — MLSNOW
• 2022-09-21 Price Changed $30,000 MLSNOW
• 2022-08-24 Listed $35,000 MLSNOW
• 2021-09-07 Sold (MLS) $24,600 NORIS
• 2021-08-24 Pending — NORIS
• 2021-08-17 Listed $25,000 NORIS
• 2020-06-06 Listing Removed — NORIS
• 2019-12-10 Listed $20,000 NORIS
• 2019-07-31 Listing Removed — NORIS
• 2019-01-31 Listed $29,900 NORIS
• 1997-10-20 Sold (Public Records) $16,500 Public Records

Property tax history

-0.1%/yr

Latest (2025): $905 · -21.4% YoY. Source: county tax records.