2938 Chase St · Toledo, OH 43611

$59,900

3 bd · 1.0 ba · 834 sqft · SingleFamily public records · 31 Days on market

Built 1901 7,200 sqft lot Est $58k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +6.3/15.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits with this income producing long term rental property. Owner retiring and downsizing portfolio would like to sell as a package with 161 Mettler, 2933 Mulberry and 1970 N Ontario for $185,000 but with strong offer may separate and sell as single. Package include 4 single family homes. Call today for more info!

Key facts

• Covered front porch
• Double fenced-in lot
• Oversized yard

Tags

• DOUBLE FENCED-IN LOT
• LARGE LIVING ROOM
• SEPARATE UTILITY ROOM
• COVERED FRONT PORCH
• STORAGE ROOM OFF BACK PORCH
• OVERSIZED YARD

Property features AI

Exterior

• Parking: Driveway with concrete surface
• Utilities: Electricity connected; Natural gas connected; Public water; Public sanitary sewer
• Home design: Single-family residence; One story; No attached units or common walls
• Construction: Aluminum siding; Shingle roof; Crawl space foundation; Built as a one-level home
• Exterior features: Private yard; Covered porch

Interior

• Kitchen: Kitchen on the main level (approx. 12' x 11')
• Bedrooms: Three bedrooms on the main level (two bedrooms approx. 7' x 9'; one bedroom approx. 12' x 13')
• Flooring: Laminate flooring
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating
• Interior features: Five total rooms; Other interior features
• Laundry & utility: Laundry features listed as other

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 $400 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.3% 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-, 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: Sherman Elementary School (math 2% / reading 8%, grade F, #1,554 of 1,584 statewide, top 100%, 293 students, 0% FRL); Woodward High School (math 2% / reading 22%, grade F, #726 of 781 statewide, top 94%, 672 students, 0% FRL) — zoned schools average 0% FRL vs 72% district-wide (72 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 66 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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 31 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $35k; list at $60k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1901 — 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. 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.
7. 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.
8. 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: 1.70% ✓
• Cap rate: 14.30%
• Cash-on-cash: 28.59%
• DSCR: 2.27
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $58,380
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2816 N Michigan St	0.18mi	2/1.0 (-1)	774 (-7%)	5mo	$64,362	$83	71
2422 N Ontario St	0.48mi	2/1.0 (-1)	814 (-2%)	2mo	$55,000	$68	67
3228 E Manhattan Blvd	0.55mi	2/1.0 (-1)	785 (-6%)	9mo	$55,000	$70	52
3511 N Erie St	0.58mi	3/1.0	925 (+11%)	6mo	$105,000	$114	50
729 Chicago St	0.74mi	2/1.0 (-1)	764 (-8%)	6mo	$45,000	$59	41
3404 E Manhattan Blvd	0.56mi	2/1.0 (-1)	920 (+10%)	14mo	$79,600	$87	40
3522 Wallace Blvd	0.64mi	3/1.0	940 (+13%)	11mo	$29,000	$31	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.9%
• Equity multiple: 1.94×
• Total profit: $15,757
• Equity at exit: $8,931

10-year hold

• IRR: 30.9%
• Equity multiple: 3.77×
• Total profit: $46,537
• 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: 66
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,019 high
• Mortgage (P&I): −$314
• Tax from tax record: −$67 /mo · $800/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $400

Break-even live

Break-even rent $514

Max offer price $59,900

Occupancy floor 56%

Sensitivity live

Price	-10% $434	-5% $417	+0% $400	+5% $383	+10% $366
Rent	-10% $319	-5% $359	+0% $400	+5% $440	+10% $480
Rate	-1.0pp $430	-0.5pp $415	base $400	+0.5pp $384	+1.0pp $368

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 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2932 N Ontario St Toledo, OH	2.0	1.0	750	$750	$1.00	24d	1	0.07mi
413 Sandusky St Toledo, OH	2.0	1.0	900	$775	$0.86	24d	1	0.35mi
3563 E Manhattan Blvd Toledo, OH	1.0–2.0	1.0	707	$850	$1.20	15d	1	0.72mi
1951 N Summit St Unit 2 Toledo, OH	2.0	1.0	835	$800	$0.96	45d	1	0.99mi
2514 York St Unit Back Toledo, OH	2.0	1.0	696	$850	$1.22	15d	1	1.07mi
3405 Beaumont Dr Toledo, OH	2.0	1.0	855	$745	$0.87	15d	1	1.11mi
3439 Jeannette Ave Toledo, OH	3.0	1.0	1098	$1,095	$1.00	45d	1	1.23mi
3474 Maher St Toledo, OH	2.0	1.0	736	$1,125	$1.53	45d	1	1.28mi
622 Whitlock Ave Toledo, OH	3.0	1.0	925	$1,195	$1.29	45d	1	1.35mi

Listing history 30 events

1. 2026-06-21
   days on market $59,900 Active 31 DOM
2. 2026-06-18
   days on market $59,900 Active 28 DOM
3. 2026-06-17
   days on market $59,900 Active 27 DOM
4. 2026-06-16
   days on market $59,900 Active 26 DOM
5. 2026-06-15
   days on market $59,900 Active 25 DOM
6. 2026-06-14
   days on market $59,900 Active 23 DOM
7. 2026-06-10
   days on market $59,900 Active 20 DOM
8. 2026-06-09
   days on market $59,900 Active 19 DOM
9. 2026-06-08
   days on market $59,900 Active 18 DOM
10. 2026-06-07
    days on market $59,900 Active 17 DOM
11. 2026-06-05
    days on market $59,900 Active 14 DOM
12. 2026-06-03
    days on market $59,900 Active 13 DOM
13. 2026-06-02
    days on market $59,900 Active 12 DOM
14. 2026-06-01
    days on market $59,900 Active 11 DOM
15. 2026-05-31
    days on market $59,900 Active 10 DOM
16. 2026-05-30
    days on market $59,900 Active 9 DOM
17. 2026-05-22
    historical Contingent
18. 2026-05-20
    listed $59,900 Active
19. 2025-12-31
    soldstatus $35,000 Closed 331-char remark

    Show marketing remark (331 chars)

    Opportunity awaits with this income producing long term rental property. Owner retiring and downsizing portfolio would like to sell as a package with 161 Mettler, 2933 Mulberry and 1970 N Ontario for $185,000 but with strong offer may separate and sell as single. Package include 4 single family homes. Call today for more info!

20. 2025-12-15
    status Pending 331-char remark

    Show marketing remark (331 chars)

    Opportunity awaits with this income producing long term rental property. Owner retiring and downsizing portfolio would like to sell as a package with 161 Mettler, 2933 Mulberry and 1970 N Ontario for $185,000 but with strong offer may separate and sell as single. Package include 4 single family homes. Call today for more info!

21. 2025-11-17
    price $42,000 331-char remark

    Show marketing remark (331 chars)

    Opportunity awaits with this income producing long term rental property. Owner retiring and downsizing portfolio would like to sell as a package with 161 Mettler, 2933 Mulberry and 1970 N Ontario for $185,000 but with strong offer may separate and sell as single. Package include 4 single family homes. Call today for more info!

22. 2025-09-03
    price $48,000 331-char remark

    Show marketing remark (331 chars)

    Opportunity awaits with this income producing long term rental property. Owner retiring and downsizing portfolio would like to sell as a package with 161 Mettler, 2933 Mulberry and 1970 N Ontario for $185,000 but with strong offer may separate and sell as single. Package include 4 single family homes. Call today for more info!

23. 2025-08-09
    price $52,000 331-char remark

    Show marketing remark (331 chars)

    Opportunity awaits with this income producing long term rental property. Owner retiring and downsizing portfolio would like to sell as a package with 161 Mettler, 2933 Mulberry and 1970 N Ontario for $185,000 but with strong offer may separate and sell as single. Package include 4 single family homes. Call today for more info!

24. 2025-07-26
    listed $59,900 Active 331-char remark

    Show marketing remark (331 chars)

    Opportunity awaits with this income producing long term rental property. Owner retiring and downsizing portfolio would like to sell as a package with 161 Mettler, 2933 Mulberry and 1970 N Ontario for $185,000 but with strong offer may separate and sell as single. Package include 4 single family homes. Call today for more info!

25. 2008-03-31
    soldstatus $27,750
26. 1998-09-08
    soldstatus $45,000
27. 1996-12-20
    soldstatus $29,000
28. 1994-03-18
    soldstatus $78,500
29. 1988-12-08
    soldstatus $11,000
30. 1987-11-24
    soldstatus $6,000

ⓘ 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: $800 · $67/mo
• Projected year-2 tax: $867 · $72/mo
• Expected delta: +$67/yr (+$6/mo · 8.4%)

ⓘ 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: $12,233
• − Mortgage interest: −$3,355
• − Property taxes: −$800
• − Insurance: −$300
• − Repairs & maintenance: −$979
• − Management: −$979
• − Depreciation: −$1,743
• Taxable income: $4,079
• Est. tax owed @ 24.0%: −$979
• After-tax cash flow: $3,817/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

+898.3% since first listed

14 events — show timeline

• 2026-05-22 Contingent — NORIS
• 2026-05-20 Listed $59,900 NORIS
• 2025-12-31 Sold (MLS) $35,000 NORIS
• 2025-12-15 Pending — NORIS
• 2025-11-17 Price Changed $42,000 NORIS
• 2025-09-03 Price Changed $48,000 NORIS
• 2025-08-09 Price Changed $52,000 NORIS
• 2025-07-26 Listed $59,900 NORIS
• 2008-03-31 Sold (Public Records) $27,750 Public Records
• 1998-09-08 Sold (Public Records) $45,000 Public Records
• 1996-12-20 Sold (Public Records) $29,000 Public Records
• 1994-03-18 Sold (Public Records) $78,500 Public Records
• 1988-12-08 Sold (Public Records) $11,000 Public Records
• 1987-11-24 Sold (Public Records) $6,000 Public Records

Property tax history

+0.4%/yr

Latest (2025): $800 · +3.7% YoY. Source: county tax records.