333 Palmer St · Toledo, OH 43608

$70,000

3 bd · 1.5 ba · 1,578 sqft · SingleFamily public records · 243 Days on market

Built 1902 3,498 sqft lot $44/sqft · 47% above area Est $47k · 47% 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
• Rent growth +3.5/5.0
• Livability +3.3/5.0
• 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

Investors and handyman take note! This charming north Toledo home has 3 cozy bedrooms, 1.5 baths, and a two-car garage. This property offers endless potential for those looking to add their own touch and bring the home to its full potential. The spacious bedrooms offer ample room for customization and comfortable living. The garage provides plenty of storage space. This is an ideal investment opportunity that is not to be missed. With a little bit of TLC and vision, this property can become a dream home.

Key facts

• 3,498 sq ft lot
• 2 garage spots
• Built 1902

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $444 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.9% 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: Rents rising (+3.9%/yr); 58 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $1,174/mo this rent would consume 48% 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 $484 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 + 3.9% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 243 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $16k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $70k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $61,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 243 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 1902 — 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: 1.68% ✓
• Cap rate: 13.90%
• Cash-on-cash: 27.17%
• DSCR: 2.21
• GRM: 5.0

CMA / ARV

• ARV (median comp): $47,496
• List price: $70,000
• Delta: 47.38%
• 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
326 Palmer St	0.03mi	3/1.0	1,536 (-3%)	4mo	$45,000	$29	89
324 Moss St	0.09mi	3/1.0	1,440 (-9%)	3mo	$49,000	$34	76
3119 Mulberry St	0.52mi	3/1.0	1,513 (-4%)	3mo	$60,500	$40	64
2446 Fulton St	0.73mi	3/2.0	1,572 (-0%)	2mo	$108,500	$69	61
2459 Franklin Ave	0.51mi	3/1.5	1,436 (-9%)	2mo	$100,000	$70	60
2919 Chestnut St	0.35mi	4/2.0 (+1)	1,726 (+9%)	2mo	$95,000	$55	59
232 E Oakland St	0.68mi	4/1.5 (+1)	1,541 (-2%)	3mo	$37,000	$24	57
304 Dexter St	0.28mi	4/2.5 (+1)	1,760 (+12%)	7mo	$112,000	$64	53
207 E Bancroft St	0.67mi	4/1.5 (+1)	1,436 (-9%)	2mo	$85,000	$59	47
121 Machen St	0.63mi	3/1.5	1,384 (-12%)	6mo	$92,000	$66	46
2933 Mulberry St	0.43mi	2/1.0 (-1)	1,362 (-14%)	7mo	$40,000	$29	44
1510 Walnut St	0.57mi	4/2.0 (+1)	1,388 (-12%)	4mo	$58,000	$42	43

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: 22.2%
• Equity multiple: 1.92×
• Total profit: $17,995
• Equity at exit: $10,437

10-year hold

• IRR: 30.8%
• Equity multiple: 3.89×
• Total profit: $56,562
• Equity at exit: $6,052

Cash invested: $19,600 (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: 5.0×

Monthly cashflow live

• Estimated rent: $1,174 high
• Mortgage (P&I): −$367
• Tax from tax record: −$88 /mo · $1,051/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $444

Break-even live

Break-even rent $612

Max offer price $70,000

Occupancy floor 57%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2621 Chestnut St Toledo, OH	3.0	1.0	1444	$1,250	$0.87	44d	1	0.12mi
152 Austin St Toledo, OH	4.0	1.5	1370	$1,150	$0.84	23d	1	0.22mi
1337 Moore St Toledo, OH	3.0	1.5	1194	$995	$0.83	21d	1	0.38mi
119 Winthrop St Toledo, OH	3.0	1.0	1734	$1,350	$0.78	23d	1	0.67mi
516 E Hudson St Toledo, OH	3.0	1.0	1204	$1,098	$0.91	14d	1	0.72mi
524 E Hudson St Toledo, OH	3.0	1.0	1150	$895	$0.78	21d	1	0.73mi
524 E Hudson St Toledo, OH	2.0	1.0	1050	$825	$0.79	44d	1	0.73mi
59 E Hudson St Toledo, OH	3.0	1.0	1368	$1,100	$0.80	44d	1	0.79mi
2131 Franklin Ave Toledo, OH	2.0	2.0	1255	$900	$0.72	44d	1	0.80mi
31 W Oakland St Toledo, OH	4.0	1.0	1188	$1,249	$1.05	23d	1	0.81mi
424 E Lake St Toledo, OH	3.0	1.0	1228	$1,075	$0.88	14d	1	0.83mi
1031 N Michigan St Toledo, OH	3.0	2.0	1488	$1,195	$0.80	23d	1	0.84mi
425 Boston Pl Unit A Toledo, OH	2.0	1.0	1200	$895	$0.75	23d	1	0.92mi
710 E Lake St Toledo, OH	3.0	1.0	1242	$1,000	$0.81	14d	1	0.93mi
724 Mulberry St Toledo, OH	4.0	1.0	1530	$995	$0.65	44d	1	0.97mi
830 Homer Ave Toledo, OH	3.0	1.0	1208	$895	$0.74	44d	1	1.00mi
626 Walnut St Toledo, OH	3.0	1.0	1088	$995	$0.91	44d	1	1.06mi
1536 N Erie St Toledo, OH	4.0	1.0	1600	$1,300	$0.81	44d	1	1.13mi
1449 N Huron St Toledo, OH	4.0	2.0	1430	$1,045	$0.73	14d	1	1.13mi
2907 Rockwood Pl Toledo, OH	3.0	1.0	1494	$1,100	$0.74	14d	1	1.15mi
322 14th St Apt 203 Toledo, OH	3.0	1.5	1065	$1,000	$0.94	14d	1	1.20mi
1119 N Summit St Toledo, OH	1.0–2.0	1.0–2.0	1023	$1,750	$1.71	14d	2	1.21mi
1119 N Summit St Toledo, OH	2.0	2.0	1226	$1,750	$1.43	23d	1	1.22mi
1119 N Summit St Toledo, OH	2.0	2.0	1500	$1,890	$1.26	44d	1	1.22mi
610 Cadillac Ct Toledo, OH	3.0	1.0	1409	$1,050	$0.75	23d	1	1.22mi
614 Cadillac Ct Toledo, OH	3.0	1.0	1581	$1,075	$0.68	23d	1	1.22mi
3439 Jeannette Ave Toledo, OH	3.0	1.0	1098	$1,095	$1.00	44d	1	1.26mi
3606 Doyle St Toledo, OH	3.0	2.0	1650	$1,100	$0.67	44d	1	1.28mi
513 Adams St Toledo, OH	1.0–2.0	1.0	1175	$1,424	$1.21	14d	11	1.37mi
2447 Maplewood Ave Toledo, OH	2.0	1.0	1538	$897	$0.58	44d	1	1.41mi
601 Chicago St Toledo, OH	3.0	2.0	1924	$1,300	$0.68	23d	1	1.47mi

Listing history 13 events

1. 2026-06-01
   days on market $70,000 Active 243 DOM
2. 2026-05-31
   days on market $70,000 Active 242 DOM
3. 2026-05-30
   days on market $70,000 Active 241 DOM
4. 2026-05-09
   price $78,000
5. 2025-10-14
   price $35,000 510-char remark

   Show marketing remark (510 chars)

   Investors and handyman take note! This charming north Toledo home has 3 cozy bedrooms, 1.5 baths, and a two-car garage. This property offers endless potential for those looking to add their own touch and bring the home to its full potential. The spacious bedrooms offer ample room for customization and comfortable living. The garage provides plenty of storage space. This is an ideal investment opportunity that is not to be missed. With a little bit of TLC and vision, this property can become a dream home.

6. 2025-09-27
   listed $86,500 Active
7. 2023-03-22
   soldstatus $35,000 Closed 510-char remark

   Show marketing remark (510 chars)

   Investors and handyman take note! This charming north Toledo home has 3 cozy bedrooms, 1.5 baths, and a two-car garage. This property offers endless potential for those looking to add their own touch and bring the home to its full potential. The spacious bedrooms offer ample room for customization and comfortable living. The garage provides plenty of storage space. This is an ideal investment opportunity that is not to be missed. With a little bit of TLC and vision, this property can become a dream home.

8. 2023-02-28
   historical Contingent 510-char remark

   Show marketing remark (510 chars)

   Investors and handyman take note! This charming north Toledo home has 3 cozy bedrooms, 1.5 baths, and a two-car garage. This property offers endless potential for those looking to add their own touch and bring the home to its full potential. The spacious bedrooms offer ample room for customization and comfortable living. The garage provides plenty of storage space. This is an ideal investment opportunity that is not to be missed. With a little bit of TLC and vision, this property can become a dream home.

9. 2023-02-18
   status Active 510-char remark

   Show marketing remark (510 chars)

   Investors and handyman take note! This charming north Toledo home has 3 cozy bedrooms, 1.5 baths, and a two-car garage. This property offers endless potential for those looking to add their own touch and bring the home to its full potential. The spacious bedrooms offer ample room for customization and comfortable living. The garage provides plenty of storage space. This is an ideal investment opportunity that is not to be missed. With a little bit of TLC and vision, this property can become a dream home.

10. 2023-02-15
    status Pending 510-char remark

    Show marketing remark (510 chars)

    Investors and handyman take note! This charming north Toledo home has 3 cozy bedrooms, 1.5 baths, and a two-car garage. This property offers endless potential for those looking to add their own touch and bring the home to its full potential. The spacious bedrooms offer ample room for customization and comfortable living. The garage provides plenty of storage space. This is an ideal investment opportunity that is not to be missed. With a little bit of TLC and vision, this property can become a dream home.

11. 2023-02-15
    price $39,900 510-char remark

    Show marketing remark (510 chars)

    Investors and handyman take note! This charming north Toledo home has 3 cozy bedrooms, 1.5 baths, and a two-car garage. This property offers endless potential for those looking to add their own touch and bring the home to its full potential. The spacious bedrooms offer ample room for customization and comfortable living. The garage provides plenty of storage space. This is an ideal investment opportunity that is not to be missed. With a little bit of TLC and vision, this property can become a dream home.

12. 2023-02-15
    listed $30,000 Active 510-char remark

    Show marketing remark (510 chars)

    Investors and handyman take note! This charming north Toledo home has 3 cozy bedrooms, 1.5 baths, and a two-car garage. This property offers endless potential for those looking to add their own touch and bring the home to its full potential. The spacious bedrooms offer ample room for customization and comfortable living. The garage provides plenty of storage space. This is an ideal investment opportunity that is not to be missed. With a little bit of TLC and vision, this property can become a dream home.

13. 1985-05-28
    soldstatus $12,500

ⓘ 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: $1,051 · $88/mo
• Projected year-2 tax: $1,071 · $89/mo
• Expected delta: +$21/yr (+$2/mo · 2.0%)

ⓘ 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: $14,089
• − Mortgage interest: −$3,921
• − Property taxes: −$1,051
• − Insurance: −$350
• − Repairs & maintenance: −$1,127
• − Management: −$1,127
• − Depreciation: −$2,036
• Taxable income: $4,476
• Est. tax owed @ 24.0%: −$1,074
• After-tax cash flow: $4,250/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

+524.0% since first listed

10 events — show timeline

• 2026-05-09 Price Changed $78,000 NORIS
• 2025-10-14 Price Changed $35,000 NORIS
• 2025-09-27 Listed $86,500 NORIS
• 2023-03-22 Sold (MLS) $35,000 NORIS
• 2023-02-28 Contingent — NORIS
• 2023-02-18 Relisted — NORIS
• 2023-02-15 Pending — NORIS
• 2023-02-15 Price Changed $39,900 NORIS
• 2023-02-15 Listed $30,000 NORIS
• 1985-05-28 Sold (Public Records) $12,500 Public Records

Property tax history

+12.1%/yr

Latest (2025): $1,051 · +15.0% YoY. Source: county tax records.