3339 Elm St · Toledo, OH 43608

$40,000

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 3 Days on market

Built 1902 3,000 sqft lot Est $46k · 14% under

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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
• ARV discount +13.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Rented for $950 per month. $1,500 Deposit. 5 year Lead Certificate issues July 2022. Owner is currently cleaning up the premises. Tenants pay gas & electric.

Key facts

• Turnkey property
• Remodeled bathroom
• New flooring

Tags

• NEW FLOORING
• REMODELED BATHROOM
• UPDATED KITCHEN
• MODERN FINISHES
• TURNKEY PROPERTY
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Located in Lucas County, subdivision Lagrange Manor; Public-record living area approximately 1,008; Address: 3339 Elm St, Toledo, OH 43608

Exterior

• Parking: Alley access; Driveway
• Utilities: Electricity connected; Natural gas connected; Public water; Sanitary sewer connected
• Home design: Single-family residence; One and one-half levels; No shared/common walls; Residential property
• Construction: Aluminum, vinyl, and steel siding; Crawl space foundation
• Exterior features: Shingle roof; Shed(s)

Interior

• Kitchen: Electric and gas range connections
• Bedrooms: Upper-level bedrooms (two rooms roughly 17x12 and 17x13); Lower-level bedroom (about 7x7); Main-level bedroom/other room (about 18x7)
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Six total rooms; Other interior features
• Laundry & utility: Electric dryer hookup; Gas dryer hookup; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $511 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Cap rate 21.6% 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-, 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: Leverette Elementary School (math 3% / reading 13%, grade F, #1,517 of 1,584 statewide, top 96%, 429 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: Rents rising (+3.9%/yr); 58 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 41% 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).
• This rent runs 41% of the median local income ($29k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 24y ago 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.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $40,000

Questions for the listing agent

1. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.51% ✓
• Cap rate: 21.63%
• Cash-on-cash: 54.78%
• DSCR: 3.44
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $46,368
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3550 Wersell Ave	0.26mi	3/1.0	1,054 (+5%)	3mo	$48,000	$46	78
3377 Lagrange St	0.34mi	2/1.0 (-1)	1,030 (+2%)	4mo	$80,000	$78	72
17 W Pearl St	0.53mi	3/1.0	966 (-4%)	2mo	$16,900	$17	67
125 E Oakland St	0.34mi	2/1.0 (-1)	1,088 (+8%)	4mo	$18,000	$17	62
3118 Elm St	0.29mi	3/1.0	1,140 (+13%)	4mo	$50,000	$44	61
3319 Franklin Ave	0.50mi	2/1.0 (-1)	958 (-5%)	3mo	$45,000	$47	61
40 E Oakland St	0.42mi	3/1.0	1,110 (+10%)	4mo	$53,000	$48	60
235 Bronson Ave	0.43mi	3/2.0	1,104 (+10%)	2mo	$48,000	$43	58
2743 Elm St	0.62mi	3/1.0	925 (-8%)	3mo	$68,000	$74	55
910 Woodward Ave	0.62mi	3/2.0	1,104 (+10%)	4mo	$34,000	$31	48
1019 E Manhattan Blvd	0.70mi	2/1.5 (-1)	923 (-8%)	4mo	$67,000	$73	43
150 W Park St	0.71mi	2/1.0 (-1)	1,124 (+12%)	4mo	$12,000	$11	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: 54.0%
• Equity multiple: 3.41×
• Total profit: $27,009
• Equity at exit: $5,964

10-year hold

• IRR: 59.5%
• Equity multiple: 7.19×
• Total profit: $69,319
• Equity at exit: $3,458

Cash invested: $11,200 (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: 58
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,005 high
• Mortgage (P&I): −$210
• Tax from tax record: −$56 /mo · $674/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $511

Break-even live

Break-even rent $358

Max offer price $40,000

Occupancy floor 44%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
333 E Lake St Toledo, OH	2.0	1.0	800	$495	$0.62	23d	1	0.10mi
424 E Lake St Toledo, OH	3.0	1.0	1228	$1,075	$0.88	14d	1	0.10mi
405 E Manhattan Blvd Toledo, OH	2.0	1.0	1000	$900	$0.90	14d	1	0.17mi
516 E Hudson St Toledo, OH	3.0	1.0	1204	$1,098	$0.91	14d	1	0.18mi
524 E Hudson St Toledo, OH	3.0	1.0	1150	$895	$0.78	21d	1	0.20mi
524 E Hudson St Toledo, OH	2.0	1.0	1050	$825	$0.79	44d	1	0.20mi
59 E Hudson St Toledo, OH	3.0	1.0	1368	$1,100	$0.80	44d	1	0.36mi
710 E Lake St Toledo, OH	3.0	1.0	1242	$1,000	$0.81	14d	1	0.44mi
319 Dexter St Toledo, OH	2.0	1.0	990	$1,005	$1.02	44d	1	0.48mi
227 Everett St Toledo, OH	2.0	1.0	914	$850	$0.93	44d	1	0.54mi
31 W Oakland St Toledo, OH	4.0	1.0	1188	$1,249	$1.05	23d	1	0.55mi
420 Everett St Toledo, OH	2.0	1.0	1000	$975	$0.97	23d	1	0.56mi
830 Homer Ave Toledo, OH	3.0	1.0	1208	$895	$0.74	44d	1	0.60mi
329 Mettler St Toledo, OH	2.0	1.0	908	$975	$1.07	14d	1	0.60mi
2621 Chestnut St Toledo, OH	3.0	1.0	1444	$1,250	$0.87	44d	1	0.73mi
152 Austin St Toledo, OH	4.0	1.5	1370	$1,150	$0.84	23d	1	0.79mi
225 Palmer St Toledo, OH	2.0	1.0	924	$895	$0.97	44d	1	0.80mi
3474 Maher St Toledo, OH	2.0	1.0	736	$1,125	$1.53	44d	1	0.86mi
3439 Jeannette Ave Toledo, OH	3.0	1.0	1098	$1,095	$1.00	44d	1	0.88mi
1337 Moore St Toledo, OH	3.0	1.5	1194	$995	$0.83	21d	1	0.90mi
3405 Beaumont Dr Toledo, OH	2.0	1.0	855	$745	$0.87	14d	1	0.97mi
425 Boston Pl Unit A Toledo, OH	2.0	1.0	1200	$895	$0.75	23d	1	1.06mi
610 Cadillac Ct Toledo, OH	3.0	1.0	1409	$1,050	$0.75	23d	1	1.09mi
2907 Rockwood Pl Toledo, OH	3.0	1.0	1494	$1,100	$0.74	14d	1	1.23mi
3950 Woodhaven Dr Toledo, OH	2.0	1.0	1072	$745	$0.69	23d	1	1.24mi
4140 Caroline Ave Toledo, OH	3.0	1.5	1378	$1,650	$1.20	23d	1	1.32mi
4220 Caroline Ave Toledo, OH	3.0	1.0	944	$1,095	$1.16	44d	1	1.35mi
4039 Vermaas Ave Toledo, OH	2.0	1.0	900	$900	$1.00	23d	1	1.39mi
4124 Vermaas Ave Toledo, OH	2.0	1.0	1245	$997	$0.80	44d	1	1.40mi
4129 Vermaas Ave Toledo, OH	3.0	1.5	1385	$1,250	$0.90	44d	1	1.43mi
244 Sunset Blvd Toledo, OH	2.0	1.0	726	$1,045	$1.44	21d	1	1.46mi
2131 Franklin Ave Toledo, OH	2.0	2.0	1255	$900	$0.72	44d	1	1.49mi

Listing history 3 events

1. 2026-06-15
   statusdays on market $40,000 Pending 3 DOM
2. 2026-06-14
   remarks 534-char remark
3. 2026-06-14
   listed $40,000 Active 2 DOM

ⓘ 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: $674 · $56/mo
• Projected year-2 tax: $674 · $56/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,058
• − Mortgage interest: −$2,241
• − Property taxes: −$674
• − Insurance: −$200
• − Repairs & maintenance: −$965
• − Management: −$965
• − Depreciation: −$1,164
• Taxable income: $5,851
• Est. tax owed @ 24.0%: −$1,404
• After-tax cash flow: $4,731/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

+35.6% since first listed

20 events — show timeline

• 2026-06-11 Listed $40,000 NORIS
• 2025-12-22 Listing Removed — NORIS
• 2025-10-14 Price Changed $37,500 NORIS
• 2025-10-09 Price Changed $27,500 NORIS
• 2025-08-26 Price Changed $54,900 NORIS
• 2025-08-19 Listed $64,900 NORIS
• 2025-06-05 Listing Removed — NORIS
• 2025-05-19 Listed $43,000 NORIS
• 2022-12-29 Sold (Public Records) $37,500 Public Records
• 2022-12-22 Pending — NORIS
• 2022-12-22 Sold (MLS) $37,500 NORIS
• 2022-10-31 Contingent — NORIS
• 2022-08-23 Listed $46,900 NORIS
• 2022-02-05 Price Changed $750 RENT.
• 2016-11-21 Sold (MLS) $13,200 NORIS
• 2016-09-10 Listed $13,200 NORIS
• 2002-08-20 Sold (Public Records) $27,500 Public Records
• 2002-08-19 Sold (MLS) $27,500 NORIS
• 2002-07-01 Price Changed $29,500 NORIS
• 2002-04-19 Listed $29,500 NORIS

Property tax history

+3.4%/yr

Latest (2025): $674 · +2.6% YoY. Source: county tax records.