2536 N Erie St · Toledo, OH 43611

$59,900

3 bd · 1.0 ba · 954 sqft · SingleFamily public records · 147 Days on market

Built 1887 2,800 sqft lot $63/sqft · 28% above area Est $47k · 28% 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
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• 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

3 bedroom, 1 bathroom traditional home. Updated mechanicals. Convenient location. Nice sized rooms. Traditional layout. Painted one year ago. Just needs minor touch ups from tenant who moved out.

Key facts

• Updated mechanicals
• Convenient location
• 2,800 sq ft lot

Tags

• UPDATED MECHANICALS
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $374 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($992 rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.8% 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-, 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: 64 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $414 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 + 3.0% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1887 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 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 1887 — 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: 1.66% ✓
• Cap rate: 13.79%
• Cash-on-cash: 26.79%
• DSCR: 2.19
• GRM: 5.0

CMA / ARV

• ARV (median comp): $46,808
• List price: $59,900
• Delta: 27.97%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2422 N Ontario St	0.17mi	2/1.0 (-1)	814 (-15%)	2mo	$55,000	$68	60
813 Galena St	0.56mi	2/1.0 (-1)	990 (+4%)	15mo	$14,000	$14	50
1919 N Ontario St	0.71mi	3/1.0	890 (-7%)	8mo	$27,000	$30	49

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.7%
• Equity multiple: 1.84×
• Total profit: $14,153
• Equity at exit: $8,931

10-year hold

• IRR: 28.9%
• Equity multiple: 3.57×
• Total profit: $43,080
• Equity at exit: $5,179

Cash invested: $16,772 (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 43611

• Home prices YoY: -24.4%
• Active inventory: 64
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $992 high
• Mortgage (P&I): −$314
• Tax from tax record: −$70 /mo · $844/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $374

Break-even live

Break-even rent $518

Max offer price $59,900

Occupancy floor 57%

Sensitivity live

Price	-10% $408	-5% $391	+0% $374	+5% $357	+10% $341
Rent	-10% $296	-5% $335	+0% $374	+5% $414	+10% $453
Rate	-1.0pp $405	-0.5pp $390	base $374	+0.5pp $359	+1.0pp $343

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
413 Sandusky St Toledo, OH	2.0	1.0	900	$775	$0.86	24d	1	0.02mi
2932 N Ontario St Toledo, OH	2.0	1.0	750	$750	$1.00	24d	1	0.35mi
1951 N Summit St Unit 2 Toledo, OH	2.0	1.0	835	$800	$0.96	44d	1	0.65mi
2514 York St Unit Back Toledo, OH	2.0	1.0	696	$850	$1.22	15d	1	0.94mi
3563 E Manhattan Blvd Toledo, OH	1.0–2.0	1.0	707	$850	$1.20	15d	1	1.06mi
3405 Beaumont Dr Toledo, OH	2.0	1.0	855	$745	$0.87	15d	1	1.06mi
3439 Jeannette Ave Toledo, OH	3.0	1.0	1098	$1,095	$1.00	44d	1	1.18mi
3474 Maher St Toledo, OH	2.0	1.0	736	$1,125	$1.53	44d	1	1.24mi
622 Whitlock Ave Toledo, OH	3.0	1.0	925	$1,195	$1.29	44d	1	1.24mi
1848 Genesee St Toledo, OH	3.0	1.0	1069	$1,300	$1.22	24d	1	1.24mi
1848 Genesee St Toledo, OH	3.0	1.0	1069	$1,200	$1.12	44d	1	1.24mi
21 Magyar St Toledo, OH	2.0	1.0	680	$1,050	$1.54	44d	1	1.31mi
630 Mulberry St Toledo, OH	2.0	1.0	1000	$950	$0.95	24d	1	1.47mi

Listing history 16 events

1. 2026-06-18
   days on market $59,900 Active 147 DOM
2. 2026-06-17
   days on market $59,900 Active 146 DOM
3. 2026-06-16
   days on market $59,900 Active 145 DOM
4. 2026-06-15
   days on market $59,900 Active 144 DOM
5. 2026-06-14
   days on market $59,900 Active 142 DOM
6. 2026-06-10
   days on market $59,900 Active 139 DOM
7. 2026-06-09
   days on market $59,900 Active 138 DOM
8. 2026-06-08
   days on market $59,900 Active 137 DOM
9. 2026-06-07
   days on market $59,900 Active 136 DOM
10. 2026-06-05
    days on market $59,900 Active 133 DOM
11. 2026-06-03
    days on market $59,900 Active 132 DOM
12. 2026-06-02
    days on market $59,900 Active 131 DOM
13. 2026-06-01
    days on market $59,900 Active 130 DOM
14. 2026-05-31
    days on market $59,900 Active 129 DOM
15. 2026-05-30
    days on market $59,900 Active 128 DOM
16. 2026-01-22
    listed $59,900 Active 202-char remark

    Show marketing remark (202 chars)

    3 bedroom, 1 bathroom traditional home. Updated mechanicals. Convenient location. Nice sized rooms. Traditional layout. Painted one year ago. Just needs minor touch ups from tenant who moved out.

ⓘ 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: $844 · $70/mo
• Projected year-2 tax: $889 · $74/mo
• Expected delta: +$45/yr (+$4/mo · 5.4%)

ⓘ 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,906
• − Mortgage interest: −$3,355
• − Property taxes: −$844
• − Insurance: −$300
• − Repairs & maintenance: −$952
• − Management: −$952
• − Depreciation: −$1,743
• Taxable income: $3,760
• Est. tax owed @ 24.0%: −$902
• After-tax cash flow: $3,591/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): 18,664
• Household income: $62,042
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 298.0

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: Predominantly White (77%)
• Race & ethnicity: White 77% Black 11% Hispanic / Latino 8% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 13% Lithuanian 5% Slovak 2%
• Foreign-born: 1% · 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: ▼ -79.15%
• Current HPI: 245.2841
• Rent YoY: —
• 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

1 event — show timeline

• 2026-01-22 Listed $59,900 NORIS

Property tax history

+3.6%/yr

Latest (2025): $844 · +15.4% YoY. Source: county tax records.