1371 Felt St · Toledo, OH 43605

$68,000

2 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 260 Days on market

Built 1892 4,400 sqft lot $64/sqft · 12% above area Est $61k · 11% 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
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Rent growth +3.8/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• ARV discount +2.3/15.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

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 12-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 $672K. The sub-portfolio includes 1441 Prouty, 4139 Walker, 291-295 E Broadway, 1371 Felt St, 1525 Kelsey Ave / 270 Valleywood, 1531 Freedom, and 44 Greenwood. 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

• 4,400 sq ft lot
• 2 garage spots
• Built 1892

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 $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($929 rent vs $68k).
• Recommended offer: $60k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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 (+5.4%/yr); 117 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 $470 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 $19k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 260 days — a 12% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y 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 $41k; list at $68k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1892 — 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 260 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 1892 — 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: 1.37% ✓
• Cap rate: 11.00%
• Cash-on-cash: 16.83%
• DSCR: 1.75
• GRM: 6.1

CMA / ARV

• ARV (median comp): $60,987
• List price: $68,000
• Delta: 11.50%
• 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
1406 Utah St	0.09mi	2/1.0	1,144 (+8%)	8mo	$30,000	$26	75
1455 Oak St	0.15mi	3/1.0 (+1)	1,116 (+6%)	5mo	$63,500	$57	74
1525 Akron St	0.26mi	3/1.0 (+1)	999 (-5%)	8mo	$93,500	$94	68
541 Oakdale Ave	0.39mi	2/1.5	936 (-11%)	3mo	$126,000	$135	59
1537 Akron St	0.28mi	3/2.0 (+1)	1,188 (+12%)	3mo	$131,500	$111	55
709 Sylvester Ave	0.54mi	3/1.0 (+1)	1,112 (+5%)	8mo	$103,000	$93	54
901 Clark St	0.57mi	2/—	944 (-11%)	7mo	$10,450	$11	50
852 Berry St	0.74mi	2/1.0	1,116 (+6%)	8mo	$20,900	$19	49
1813 Milroy St	0.71mi	2/1.0	960 (-9%)	4mo	$60,480	$63	48
835 Willow Ave	0.72mi	3/1.0 (+1)	1,109 (+5%)	7mo	$32,000	$29	48
833 Kingston Ave	0.66mi	3/1.0 (+1)	1,202 (+14%)	3mo	$140,000	$116	39
1213 Albert St	0.71mi	3/1.0 (+1)	933 (-12%)	7mo	$90,000	$96	37

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: 10.7%
• Equity multiple: 1.43×
• Total profit: $8,266
• Equity at exit: $10,139

10-year hold

• IRR: 21.6%
• Equity multiple: 3.04×
• Total profit: $38,912
• Equity at exit: $5,879

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 43605

• Home prices YoY: -25.6%
• Rents YoY: 5.4%
• Active inventory: 117
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $929 high
• Mortgage (P&I): −$357
• Tax from tax record: −$82 /mo · $983/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $267

Break-even live

Break-even rent $591

Max offer price $68,000

Occupancy floor 66%

Sensitivity live

Price	-10% $305	-5% $286	+0% $267	+5% $248	+10% $229
Rent	-10% $194	-5% $230	+0% $267	+5% $304	+10% $340
Rate	-1.0pp $301	-0.5pp $284	base $267	+0.5pp $249	+1.0pp $231

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 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1411 Oakmont St Toledo, OH	1.0	1.0	750	$800	$1.07	14d	1	0.29mi
1537 Remington St Toledo, OH	3.0	1.0	1064	$1,095	$1.03	44d	1	0.33mi
950 Oak St Unit 1 Toledo, OH	2.0	1.0	725	$700	$0.97	44d	1	0.45mi
946 Butler St Toledo, OH	2.0	1.0	944	$650	$0.69	44d	1	0.52mi
912 Willow Ave Toledo, OH	1.0	1.0	900	$850	$0.94	44d	1	0.61mi
834 Oak St Toledo, OH	3.0	1.0	1064	$900	$0.85	44d	1	0.63mi
1205 Liberty St Unit NA Toledo, OH	3.0	1.0	864	$1,195	$1.38	44d	1	0.71mi
908 Forsythe St Unit Downstairs Toledo, OH	3.0	1.0	1164	$950	$0.82	44d	1	0.71mi
908 Forsythe St Unit Upstairs Toledo, OH	2.0	1.0	1164	$900	$0.77	14d	1	0.71mi
1537 Carlyle St Toledo, OH	2.0	1.0	800	$800	$1.00	24d	1	0.89mi
1106 White St Toledo, OH	3.0	1.0	1200	$1,015	$0.85	14d	1	0.93mi
948 White St Toledo, OH	3.0	1.0	1024	$1,135	$1.11	14d	1	0.99mi
537 Potter St Toledo, OH	1.0	1.0	1000	$600	$0.60	44d	1	1.00mi
537 Potter St Toledo, OH	2.0	1.0	1200	$625	$0.52	24d	1	1.00mi
724 Plymouth St Toledo, OH	2.0	1.0	819	$750	$0.92	44d	1	1.06mi
724 Plymouth St Toledo, OH	1.0	1.0	850	$750	$0.88	14d	1	1.06mi
20 Greenwood Ave Toledo, OH	3.0	1.0	1496	$1,150	$0.77	14d	1	1.08mi
244 Knower St Toledo, OH	3.0	1.0	1120	$995	$0.89	14d	1	1.12mi
2480 Tracy Rd Northwood, OH	1.0–2.0	1.0	717	$1,015	$1.41	14d	1	1.12mi
1505 Navarre Ave Toledo, OH	3.0	1.0	1331	$1,145	$0.86	44d	1	1.13mi
1123 Nevada St Toledo, OH	2.0	1.0	792	$900	$1.14	14d	1	1.17mi
451 5th St Apt 1 Toledo, OH	1.0	1.0	850	$650	$0.76	44d	1	1.30mi
337 Broadway St Unit 201 Toledo, OH	2.0	1.0	1455	$1,650	$1.13	24d	1	1.30mi
1614 Nevada St Toledo, OH	2.0	1.0	1172	$1,000	$0.85	21d	1	1.34mi
557 Valleywood Dr Toledo, OH	3.0	1.0	848	$1,100	$1.30	44d	1	1.36mi
1311 Mason St Unit 2 Toledo, OH	1.0	1.0	950	$703	$0.74	14d	1	1.38mi
653 Oswald St Toledo, OH	2.0	1.0	920	$800	$0.87	44d	1	1.39mi
420 Platt St Toledo, OH	2.0	1.0	1499	$685	$0.46	21d	1	1.42mi
470 2nd St Unit 1 Toledo, OH	2.0	1.0	950	$799	$0.84	44d	1	1.42mi
414 Platt St Unit ST-3 Toledo, OH	3.0	1.0	1500	$1,150	$0.77	24d	1	1.43mi
414 Platt St Unit ST-1 Toledo, OH	1.0	1.0	800	$800	$1.00	44d	1	1.43mi
315 Parker Ave Unit 3 Toledo, OH	1.0	1.0	1029	$799	$0.78	24d	1	1.46mi
571 Howland Ave Toledo, OH	2.0	1.0	874	$875	$1.00	44d	1	1.48mi

Listing history 27 events

1. 2026-06-18
   days on market $68,000 Active 260 DOM
2. 2026-06-17
   days on market $68,000 Active 259 DOM
3. 2026-06-16
   days on market $68,000 Active 258 DOM
4. 2026-06-15
   days on market $68,000 Active 257 DOM
5. 2026-06-14
   days on market $68,000 Active 255 DOM
6. 2026-06-10
   days on market $68,000 Active 252 DOM
7. 2026-06-09
   days on market $68,000 Active 251 DOM
8. 2026-06-08
   days on market $68,000 Active 250 DOM
9. 2026-06-07
   days on market $68,000 Active 249 DOM
10. 2026-06-05
    days on market $68,000 Active 246 DOM
11. 2026-06-03
    days on market $68,000 Active 245 DOM
12. 2026-06-02
    days on market $68,000 Active 244 DOM
13. 2026-06-01
    days on market $68,000 Active 243 DOM
14. 2026-05-31
    days on market $68,000 Active 242 DOM
15. 2026-05-30
    days on market $68,000 Active 241 DOM
16. 2026-01-14
    price $75,000 736-char remark

    Show marketing remark (736 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 12-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 $672K. The sub-portfolio includes 1441 Prouty, 4139 Walker, 291-295 E Broadway, 1371 Felt St, 1525 Kelsey Ave / 270 Valleywood, 1531 Freedom, and 44 Greenwood. 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 $78,890 736-char remark

    Show marketing remark (736 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 12-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 $672K. The sub-portfolio includes 1441 Prouty, 4139 Walker, 291-295 E Broadway, 1371 Felt St, 1525 Kelsey Ave / 270 Valleywood, 1531 Freedom, and 44 Greenwood. 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 $41,000 251-char remark

    Show marketing remark (251 chars)

    Adorable investment property located across the street from Hathaway Park. Ranch style 2 bed one bath, 2 car garage with access from alley,totally fenced yard, den can be turned into 3rd bedroom. New carpet and paint. No showings until accepted offer.

19. 2025-10-09
    price $22,000
20. 2025-09-29
    listed $82,500 Active 736-char remark

    Show marketing remark (736 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 12-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 $672K. The sub-portfolio includes 1441 Prouty, 4139 Walker, 291-295 E Broadway, 1371 Felt St, 1525 Kelsey Ave / 270 Valleywood, 1531 Freedom, and 44 Greenwood. The entire 46-unit list can be found in the attachments. Property is occupied and photos are from the last time it was vacant.

21. 2023-01-26
    status Pending 251-char remark

    Show marketing remark (251 chars)

    Adorable investment property located across the street from Hathaway Park. Ranch style 2 bed one bath, 2 car garage with access from alley,totally fenced yard, den can be turned into 3rd bedroom. New carpet and paint. No showings until accepted offer.

22. 2023-01-26
    soldstatus $41,000 Closed 251-char remark

    Show marketing remark (251 chars)

    Adorable investment property located across the street from Hathaway Park. Ranch style 2 bed one bath, 2 car garage with access from alley,totally fenced yard, den can be turned into 3rd bedroom. New carpet and paint. No showings until accepted offer.

23. 2023-01-05
    historical Contingent 251-char remark

    Show marketing remark (251 chars)

    Adorable investment property located across the street from Hathaway Park. Ranch style 2 bed one bath, 2 car garage with access from alley,totally fenced yard, den can be turned into 3rd bedroom. New carpet and paint. No showings until accepted offer.

24. 2022-12-12
    listed $50,000 Active 251-char remark

    Show marketing remark (251 chars)

    Adorable investment property located across the street from Hathaway Park. Ranch style 2 bed one bath, 2 car garage with access from alley,totally fenced yard, den can be turned into 3rd bedroom. New carpet and paint. No showings until accepted offer.

25. 2004-06-30
    soldstatus $22,000
26. 2004-06-28
    soldstatus $22,000
27. 2004-04-18
    listed $26,000

ⓘ 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: $983 · $82/mo
• Projected year-2 tax: $1,022 · $85/mo
• Expected delta: +$39/yr (+$3/mo · 4.0%)

ⓘ 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 ≥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: $11,147
• − Mortgage interest: −$3,809
• − Property taxes: −$983
• − Insurance: −$340
• − Repairs & maintenance: −$892
• − Management: −$892
• − Depreciation: −$1,978
• Taxable income: $2,253
• Est. tax owed @ 24.0%: −$541
• After-tax cash flow: $2,663/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

+188.5% since first listed

12 events — show timeline

• 2026-01-14 Price Changed $75,000 NORIS
• 2025-11-10 Price Changed $78,890 NORIS
• 2025-10-14 Price Changed $41,000 NORIS
• 2025-10-09 Price Changed $22,000 NORIS
• 2025-09-29 Listed $82,500 NORIS
• 2023-01-26 Pending — NORIS
• 2023-01-26 Sold (MLS) $41,000 NORIS
• 2023-01-05 Contingent — NORIS
• 2022-12-12 Listed $50,000 NORIS
• 2004-06-30 Sold (Public Records) $22,000 Public Records
• 2004-06-28 Sold (MLS) $22,000 NORIS
• 2004-04-18 Listed $26,000 NORIS

Property tax history

+2.9%/yr

Latest (2025): $983 · +7.6% YoY. Source: county tax records.