168 Dexter St · Toledo, OH 43608

$22,500

3 bd · 1.0 ba · 1,662 sqft · SingleFamily public records · 68 Days on market

Built 1877 3,600 sqft lot $14/sqft · 53% below area ↓ 52% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent investor opportunity! This completely gutted home is a blank canvas, stripped down to the studs for your custom redesign and renovation. The major prep work is done, including newly installed windows, presenting significant potential. Originally set up as a duplex but now transitioned into a single-family home, this property can be used either way. Ideally located close to downtown, which is undergoing a great revitalization.

Key facts

• Close to downtown
• 3,600 sq ft lot
• Garage

Tags

• NEWLY INSTALLED WINDOWS
• CLOSE TO DOWNTOWN

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $22k.

Deal economics

• At list price, monthly cash flow is $732 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $22k).
• Recommended offer: $21k (6.0% below list) — sets the bar for market timing.
• Cap rate 45.3% 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-, 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 (+3.9%/yr); 59 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• At $1,123/mo this rent would consume 46% of the median local household income ($29k/yr) (locally 911% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $156 of loan paydown is wiped out by about $675 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 + 3.9% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($21k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 25y ago; this cycle's ask has dropped $7k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $17k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1877 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $21,150 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1877 — 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. 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?
8. 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.
9. 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.
10. 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: 4.99% ✓
• Cap rate: 45.33%
• Cash-on-cash: 139.42%
• DSCR: 7.20
• GRM: 1.7

CMA / ARV

• ARV (median comp): $48,243
• List price: $22,500
• Delta: -53.36%
• 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
141 Dexter St	0.06mi	4/1.0 (+1)	1,596 (-4%)	7mo	$114,900	$72	80
298 W Park St	0.51mi	3/1.0	1,626 (-2%)	4mo	$33,000	$20	70
326 Palmer St	0.36mi	3/1.0	1,536 (-8%)	4mo	$45,000	$29	67
304 Dexter St	0.14mi	4/2.5 (+1)	1,760 (+6%)	7mo	$112,000	$64	67
2919 Chestnut St	0.35mi	4/2.0 (+1)	1,726 (+4%)	2mo	$95,000	$55	66
324 Moss St	0.25mi	3/1.0	1,440 (-13%)	3mo	$49,000	$34	63
232 E Oakland St	0.38mi	4/1.5 (+1)	1,541 (-7%)	3mo	$37,000	$24	61
3119 Mulberry St	0.51mi	3/1.0	1,513 (-9%)	3mo	$60,500	$40	59
292 W Park St	0.51mi	3/1.5	1,544 (-7%)	6mo	$56,000	$36	57
2446 Fulton St	0.66mi	3/2.0	1,572 (-5%)	2mo	$108,500	$69	54
2459 Franklin Ave	0.49mi	3/1.5	1,436 (-14%)	2mo	$100,000	$70	51
620 Russell St	0.54mi	3/2.5	1,442 (-13%)	8mo	$92,500	$64	40

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 · 3.89% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.99×
• Total profit: $44,006
• Equity at exit: $3,355

10-year hold

• IRR: —
• Equity multiple: 17.30×
• Total profit: $102,660
• Equity at exit: $1,945

Cash invested: $6,300 (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 43608

• Home prices YoY: -21.3%
• Rents YoY: 3.9%
• Active inventory: 59
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,123 high
• Mortgage (P&I): −$118
• Tax est. 1.5%: −$28 /mo · $338/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $732

Break-even live

Break-even rent $197

Max offer price $22,500

Occupancy floor 30%

Sensitivity live

Price	-10% $748	-5% $740	+0% $732	+5% $724	+10% $716
Rent	-10% $643	-5% $688	+0% $732	+5% $776	+10% $821
Rate	-1.0pp $743	-0.5pp $738	base $732	+0.5pp $726	+1.0pp $720

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: $5,625
• Closing costs: $675
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
152 Austin St Toledo, OH	4.0	1.5	1370	$1,150	$0.84	24d	1	0.27mi
2621 Chestnut St Toledo, OH	3.0	1.0	1444	$1,250	$0.87	45d	1	0.40mi
59 E Hudson St Toledo, OH	3.0	1.0	1368	$1,100	$0.80	45d	1	0.45mi
31 W Oakland St Toledo, OH	4.0	1.0	1188	$1,249	$1.05	24d	1	0.47mi
516 E Hudson St Toledo, OH	3.0	1.0	1204	$1,098	$0.91	15d	1	0.57mi
524 E Hudson St Toledo, OH	3.0	1.0	1150	$895	$0.78	22d	1	0.58mi
524 E Hudson St Toledo, OH	2.0	1.0	1050	$825	$0.79	45d	1	0.58mi
424 E Lake St Toledo, OH	3.0	1.0	1228	$1,075	$0.88	15d	1	0.62mi
1337 Moore St Toledo, OH	3.0	1.5	1194	$995	$0.83	22d	1	0.67mi
425 Boston Pl Unit A Toledo, OH	2.0	1.0	1200	$895	$0.75	24d	1	0.69mi
119 Winthrop St Toledo, OH	3.0	1.0	1734	$1,350	$0.78	24d	1	0.73mi
710 E Lake St Toledo, OH	3.0	1.0	1242	$1,000	$0.81	15d	1	0.85mi
610 Cadillac Ct Toledo, OH	3.0	1.0	1409	$1,050	$0.75	24d	1	0.92mi
2907 Rockwood Pl Toledo, OH	3.0	1.0	1494	$1,100	$0.74	15d	1	0.92mi
614 Cadillac Ct Toledo, OH	3.0	1.0	1581	$1,075	$0.68	24d	1	0.92mi
830 Homer Ave Toledo, OH	3.0	1.0	1208	$895	$0.74	45d	1	0.96mi
2131 Franklin Ave Toledo, OH	2.0	2.0	1255	$900	$0.72	45d	1	0.97mi
1031 N Michigan St Toledo, OH	3.0	2.0	1488	$1,195	$0.80	24d	1	1.19mi
3606 Doyle St Toledo, OH	3.0	2.0	1650	$1,100	$0.67	45d	1	1.19mi
3439 Jeannette Ave Toledo, OH	3.0	1.0	1098	$1,095	$1.00	45d	1	1.25mi
2447 Maplewood Ave Toledo, OH	2.0	1.0	1538	$897	$0.58	45d	1	1.29mi
724 Mulberry St Toledo, OH	4.0	1.0	1530	$995	$0.65	45d	1	1.31mi
3905 Peru St Toledo, OH	4.0	3.0	1548	$1,300	$0.84	22d	1	1.37mi
3950 Woodhaven Dr Toledo, OH	2.0	1.0	1072	$745	$0.69	24d	1	1.38mi
626 Walnut St Toledo, OH	3.0	1.0	1088	$995	$0.91	45d	1	1.39mi
960 W Delaware Ave Toledo, OH	3.0	1.0	1224	$1,050	$0.86	24d	1	1.42mi
322 14th St Apt 203 Toledo, OH	3.0	1.5	1065	$1,000	$0.94	15d	1	1.44mi
1536 N Erie St Toledo, OH	4.0	1.0	1600	$1,300	$0.81	45d	1	1.46mi
1449 N Huron St Toledo, OH	4.0	2.0	1430	$1,045	$0.73	15d	1	1.47mi

Listing history 28 events

1. 2026-06-15
   status $22,500 Pending 68 DOM
2. 2026-06-14
   days on market $22,500 Active 68 DOM
3. 2026-06-10
   days on market $22,500 Active 65 DOM
4. 2026-06-09
   days on market $22,500 Active 64 DOM
5. 2026-06-08
   days on market $22,500 Active 63 DOM
6. 2026-06-07
   days on market $22,500 Active 62 DOM
7. 2026-06-05
   days on market $22,500 Active 59 DOM
8. 2026-06-03
   days on market $22,500 Active 58 DOM
9. 2026-06-02
   days on market $22,500 Active 57 DOM
10. 2026-06-01
    days on market $22,500 Active 56 DOM
11. 2026-05-31
    days on market $22,500 Active 55 DOM
12. 2026-05-30
    days on market $22,500 Active 54 DOM
13. 2026-05-05
    price $22,500 439-char remark

    Show marketing remark (439 chars)

    Excellent investor opportunity! This completely gutted home is a blank canvas, stripped down to the studs for your custom redesign and renovation. The major prep work is done, including newly installed windows, presenting significant potential. Originally set up as a duplex but now transitioned into a single-family home, this property can be used either way. Ideally located close to downtown, which is undergoing a great revitalization.

14. 2026-05-05
    price $22,000 439-char remark

    Show marketing remark (439 chars)

    Excellent investor opportunity! This completely gutted home is a blank canvas, stripped down to the studs for your custom redesign and renovation. The major prep work is done, including newly installed windows, presenting significant potential. Originally set up as a duplex but now transitioned into a single-family home, this property can be used either way. Ideally located close to downtown, which is undergoing a great revitalization.

15. 2026-04-14
    status Active 439-char remark

    Show marketing remark (439 chars)

    Excellent investor opportunity! This completely gutted home is a blank canvas, stripped down to the studs for your custom redesign and renovation. The major prep work is done, including newly installed windows, presenting significant potential. Originally set up as a duplex but now transitioned into a single-family home, this property can be used either way. Ideally located close to downtown, which is undergoing a great revitalization.

16. 2026-04-11
    historical Contingent 439-char remark

    Show marketing remark (439 chars)

    Excellent investor opportunity! This completely gutted home is a blank canvas, stripped down to the studs for your custom redesign and renovation. The major prep work is done, including newly installed windows, presenting significant potential. Originally set up as a duplex but now transitioned into a single-family home, this property can be used either way. Ideally located close to downtown, which is undergoing a great revitalization.

17. 2026-04-06
    listed $29,900 Active 439-char remark

    Show marketing remark (439 chars)

    Excellent investor opportunity! This completely gutted home is a blank canvas, stripped down to the studs for your custom redesign and renovation. The major prep work is done, including newly installed windows, presenting significant potential. Originally set up as a duplex but now transitioned into a single-family home, this property can be used either way. Ideally located close to downtown, which is undergoing a great revitalization.

18. 2026-03-19
    historical
19. 2025-11-28
    listed $44,900 Active
20. 2025-10-14
    price $42,000
21. 2025-10-14
    price $17,000
22. 2017-02-28
    soldstatus $17,000
23. 2017-02-10
    price $22,900
24. 2016-06-01
    listed $22,900
25. 2015-01-18
    historical
26. 2014-07-18
    listed $34,900
27. 2002-01-17
    soldstatus $42,000
28. 2001-06-16
    listed $46,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $13,481
• − Mortgage interest: −$1,260
• − Property taxes: −$338
• − Insurance: −$112
• − Repairs & maintenance: −$1,078
• − Management: −$1,078
• − Depreciation: −$655
• Taxable income: $8,959
• Est. tax owed @ 24.0%: −$2,150
• After-tax cash flow: $6,634/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): 13,593
• Household income: $29,275
• Rent vs Own: 44.6% rent · 55.4% own
• Severe rent burden: 911.0

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 0.60)
• Race & ethnicity: Black 57% White 25% Two or more races 9% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Spanish 7%

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: ▼ -37.73%
• Current HPI: 139.4964
• Rent YoY: ▲ 3.89%
• 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

-52.0% since first listed

16 events — show timeline

• 2026-05-05 Price Changed $22,500 NORIS
• 2026-05-05 Price Changed $22,000 NORIS
• 2026-04-14 Relisted — NORIS
• 2026-04-11 Contingent — NORIS
• 2026-04-06 Listed $29,900 NORIS
• 2026-03-19 Listing Removed — NORIS
• 2025-11-28 Listed $44,900 NORIS
• 2025-10-14 Price Changed $42,000 NORIS
• 2025-10-14 Price Changed $17,000 NORIS
• 2017-02-28 Sold (MLS) $17,000 NORIS
• 2017-02-10 Price Changed $22,900 NORIS
• 2016-06-01 Listed $22,900 NORIS
• 2015-01-18 Listing Removed — NORIS
• 2014-07-18 Listed $34,900 NORIS
• 2002-01-17 Sold (Public Records) $42,000 Public Records
• 2001-06-16 Listed $46,900 NORIS

Property tax history

+1.0%/yr

Latest (2025): $1,133 · +1.2% YoY. Source: county tax records.