822 Delence St · Toledo, OH 43605

$114,900

5 bd · 1.0 ba · 1,395 sqft · SingleFamily public records · 61 Days on market

Built 1900 3,900 sqft lot $82/sqft · 132% above area

---

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
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• 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

Welcome to this inviting property in the heart of East Toledo. The bright foyer opens to a spacious living and dining room combo. The dining area includes a charming bay window, ceramic tile floors that extend into the eat-in kitchen, and an awesome bar-top peninsula, with new light fixtures, that?s perfect for casual dining. Make your way upstairs from the kitchen or the foyer with the split staircase. Upstairs features 3 bedrooms, an office/ 4th bedroom, and the updated restroom. The primary bedroom is massive and includes a large closet. News Include: Furnace, Hot Water Tank, Insulation, Drywall, and windows.

Key facts

• 3,900 sq ft lot
• Built 1900
• Listed 61 days

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $462 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 7.7% 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: Waite High School (math 12% / reading 24%, grade F, #687 of 781 statewide, top 88%, 997 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: Rents rising fast (+5.4%/yr); 118 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• At $1,526/mo this rent would consume 47% of the median local household income ($39k/yr) (locally 1257% 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 $794 of loan paydown is wiped out by about $3k 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 $32k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,006 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 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 1900 — 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: 1.33% ✓
• Cap rate: 11.12%
• Cash-on-cash: 17.23%
• DSCR: 1.77
• GRM: 6.3

CMA / ARV

• ARV (median comp): $49,555
• List price: $114,900
• Delta: 131.86%
• 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
452 Saint Louis St	0.29mi	5/1.0	1,418 (+2%)	6mo	$62,500	$44	78
647 Woodville Rd	0.26mi	4/1.0 (-1)	1,402 (+0%)	11mo	$60,000	$43	73
456 Fifth St	0.34mi	4/1.0 (-1)	1,417 (+2%)	10mo	$75,000	$53	68
727 Raymer Blvd	0.46mi	4/2.0 (-1)	1,408 (+1%)	9mo	$89,900	$64	61
624 White St	0.33mi	4/2.0 (-1)	1,350 (-3%)	12mo	$63,000	$47	60
503 Utah St	0.52mi	4/2.0 (-1)	1,440 (+3%)	5mo	$137,250	$95	57
40 Nevada St	0.65mi	4/2.0 (-1)	1,356 (-3%)	9mo	$60,750	$45	48
322 Valleywood Dr	0.53mi	4/1.5 (-1)	1,469 (+5%)	14mo	$81,000	$55	48
368 Plymouth St	0.33mi	4/1.5 (-1)	1,552 (+11%)	18mo	$76,000	$49	44
442 Raymer Blvd	0.39mi	4/1.0 (-1)	1,537 (+10%)	21mo	$44,000	$29	43
952 Kingston Ave	0.67mi	4/2.0 (-1)	1,485 (+6%)	9mo	$145,000	$98	42
29 Neise Ave	0.67mi	4/1.5 (-1)	1,284 (-8%)	13mo	$68,000	$53	38

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: 11.1%
• Equity multiple: 1.45×
• Total profit: $14,521
• Equity at exit: $17,132

10-year hold

• IRR: 21.9%
• Equity multiple: 3.07×
• Total profit: $66,540
• Equity at exit: $9,934

Cash invested: $32,172 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,526 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$93 /mo · $1,113/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $462

Break-even live

Break-even rent $941

Max offer price $114,900

Occupancy floor 65%

Sensitivity live

Price	-10% $527	-5% $495	+0% $462	+5% $429	+10% $397
Rent	-10% $341	-5% $402	+0% $462	+5% $522	+10% $583
Rate	-1.0pp $520	-0.5pp $491	base $462	+0.5pp $432	+1.0pp $402

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29 Garfield Pl Toledo, OH	4.0	2.0	1300	$1,250	$0.96	15d	1	0.19mi
921 Berry St Toledo, OH	4.0	1.0	1204	$1,350	$1.12	15d	1	0.52mi

Listing history 19 events

1. 2026-06-21
   days on market $114,900 Active 61 DOM
2. 2026-06-18
   days on market $114,900 Active 58 DOM
3. 2026-06-17
   days on market $114,900 Active 57 DOM
4. 2026-06-16
   days on market $114,900 Active 56 DOM
5. 2026-06-15
   days on market $114,900 Active 55 DOM
6. 2026-06-14
   days on market $114,900 Active 53 DOM
7. 2026-06-10
   days on market $114,900 Active 50 DOM
8. 2026-06-09
   days on market $114,900 Active 49 DOM
9. 2026-06-09
   price $114,900 Active 48 DOM
10. 2026-06-08
    days on market $119,900 Active 48 DOM
11. 2026-06-07
    days on market $119,900 Active 47 DOM
12. 2026-06-05
    days on market $119,900 Active 44 DOM
13. 2026-06-03
    days on market $119,900 Active 43 DOM
14. 2026-06-02
    days on market $119,900 Active 42 DOM
15. 2026-06-01
    days on market $119,900 Active 41 DOM
16. 2026-05-31
    days on market $119,900 Active 40 DOM
17. 2026-05-30
    days on market $119,900 Active 39 DOM
18. 2026-04-21
    listed $119,900 Active 619-char remark

    Show marketing remark (619 chars)

    Welcome to this inviting property in the heart of East Toledo. The bright foyer opens to a spacious living and dining room combo. The dining area includes a charming bay window, ceramic tile floors that extend into the eat-in kitchen, and an awesome bar-top peninsula, with new light fixtures, that?s perfect for casual dining. Make your way upstairs from the kitchen or the foyer with the split staircase. Upstairs features 3 bedrooms, an office/ 4th bedroom, and the updated restroom. The primary bedroom is massive and includes a large closet. News Include: Furnace, Hot Water Tank, Insulation, Drywall, and windows.

19. 2026-04-17
    historical $119,900 619-char remark

    Show marketing remark (619 chars)

    Welcome to this inviting property in the heart of East Toledo. The bright foyer opens to a spacious living and dining room combo. The dining area includes a charming bay window, ceramic tile floors that extend into the eat-in kitchen, and an awesome bar-top peninsula, with new light fixtures, that?s perfect for casual dining. Make your way upstairs from the kitchen or the foyer with the split staircase. Upstairs features 3 bedrooms, an office/ 4th bedroom, and the updated restroom. The primary bedroom is massive and includes a large closet. News Include: Furnace, Hot Water Tank, Insulation, Drywall, and windows.

ⓘ 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: $1,113 · $93/mo
• Projected year-2 tax: $1,453 · $121/mo
• Expected delta: +$340/yr (+$28/mo · 30.5%)

ⓘ 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: $18,306
• − Mortgage interest: −$6,436
• − Property taxes: −$1,113
• − Insurance: −$574
• − Repairs & maintenance: −$1,464
• − Management: −$1,464
• − Depreciation: −$3,343
• Taxable income: $3,911
• Est. tax owed @ 24.0%: −$939
• After-tax cash flow: $4,605/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

+0.0% since first listed

2 events — show timeline

• 2026-04-21 Listed $119,900 NORIS
• 2026-04-17 Coming Soon $119,900 NORIS

Property tax history

+2.8%/yr

Latest (2025): $1,113 · +13.8% YoY. Source: county tax records.