2388 York St · Toledo, OH 43605

$80,000

4 bd · 1.0 ba · 1,246 sqft · SingleFamily public records · 260 Days on market

Built 1912 3,598 sqft lot $64/sqft · 17% above area Est $68k · 17% 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 +3.8/5.0
• 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

NOTICE: We are not considering seller financing or creative financing offers that do not consist of us in recorded first lien position with a minimum of 30% down. Thank you for understanding! This property is being sold as part of an 46-unit portfolio or a 7-unit sub-portfolio. In place cap is ~8.5%, pro forma cap is ~11.0%, and occupancy is 100%. Asking price for the 46-unit portfolio is $3.57M and asking price for the 5-unit sub-portfolio is $597.5K. The sub-portfolio includes 205 Eastern, 323 Langdon, 2388 York, 1512 Vinal, 142 S Detroit, 56 E Pearl, and 920 Rogers. The entire 46-unit list can be found in the attachments. Property is occupied and photos are from the last time it was vacant.

Key facts

• 3,598 sq ft lot
• Built 1912
• Listed 260 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.7% 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 fast (+5.4%/yr); 117 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 40% of the median local income ($39k/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 $553 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 + 5.4% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 260 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y ago; this cycle's ask has dropped $18k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $41k; list at $80k implies a 95% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 260 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 1912 — 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: 1.65% ✓
• Cap rate: 13.68%
• Cash-on-cash: 26.37%
• DSCR: 2.17
• GRM: 5.1

CMA / ARV

• ARV (median comp): $68,212
• List price: $80,000
• Delta: 17.28%
• 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
2137 Valentine St	0.32mi	3/1.0 (-1)	1,272 (+2%)	6mo	$47,500	$37	72
2232 Caledonia St	0.26mi	3/1.0 (-1)	1,273 (+2%)	11mo	$75,000	$59	70
2315 Caledonia St	0.17mi	3/1.0 (-1)	1,370 (+10%)	4mo	$12,000	$9	67
2125 Valentine St	0.34mi	3/1.0 (-1)	1,265 (+2%)	12mo	$59,000	$47	67
2550 York St	0.21mi	3/1.0 (-1)	1,398 (+12%)	6mo	$113,700	$81	60
2617 York St	0.33mi	3/1.0 (-1)	1,154 (-7%)	9mo	$78,000	$68	60
146 Esther St	0.70mi	3/1.0 (-1)	1,255 (+1%)	1mo	$71,500	$57	60
2220 Genesee St	0.22mi	3/2.0 (-1)	1,362 (+9%)	6mo	$80,000	$59	60
310 Whittemore St	0.41mi	3/3.0 (-1)	1,296 (+4%)	4mo	$79,800	$62	58
1839 Genesee St	0.70mi	3/1.0 (-1)	1,351 (+8%)	5mo	$32,000	$24	44
2002 Bakewell St	0.49mi	3/1.0 (-1)	1,414 (+14%)	14mo	$42,500	$30	38
266 Milford St	0.67mi	3/1.0 (-1)	1,060 (-15%)	6mo	$120,000	$113	34

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: 22.8%
• Equity multiple: 1.97×
• Total profit: $21,623
• Equity at exit: $11,928

10-year hold

• IRR: 32.3%
• Equity multiple: 4.26×
• Total profit: $73,134
• Equity at exit: $6,917

Cash invested: $22,400 (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: 117
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,319 high
• Mortgage (P&I): −$420
• Tax from tax record: −$97 /mo · $1,159/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $492

Break-even live

Break-even rent $695

Max offer price $80,000

Occupancy floor 58%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
622 Whitlock Ave Toledo, OH	3.0	1.0	925	$1,195	$1.29	44d	1	0.43mi
1964 Burr St Toledo, OH	3.0	1.0	1159	$1,250	$1.08	44d	1	0.69mi
1848 Genesee St Toledo, OH	3.0	1.0	1069	$1,200	$1.12	44d	1	0.71mi
1848 Genesee St Toledo, OH	3.0	1.0	1069	$1,300	$1.22	23d	1	0.71mi
128 Carbon St Toledo, OH	3.0	1.0	1113	$1,200	$1.08	23d	1	1.33mi
1449 N Huron St Toledo, OH	4.0	2.0	1430	$1,045	$0.73	14d	1	1.41mi
221 Licking St Unit 2 Toledo, OH	3.0	1.0	1048	$1,099	$1.05	23d	1	1.41mi

Listing history 33 events

1. 2026-06-18
   days on market $80,000 Active 260 DOM
2. 2026-06-17
   days on market $80,000 Active 259 DOM
3. 2026-06-16
   days on market $80,000 Active 258 DOM
4. 2026-06-15
   days on market $80,000 Active 257 DOM
5. 2026-06-14
   days on market $80,000 Active 255 DOM
6. 2026-06-10
   days on market $80,000 Active 252 DOM
7. 2026-06-09
   days on market $80,000 Active 251 DOM
8. 2026-06-08
   days on market $80,000 Active 250 DOM
9. 2026-06-07
   days on market $80,000 Active 249 DOM
10. 2026-06-05
    days on market $80,000 Active 246 DOM
11. 2026-06-03
    days on market $80,000 Active 245 DOM
12. 2026-06-02
    days on market $80,000 Active 244 DOM
13. 2026-06-01
    days on market $80,000 Active 243 DOM
14. 2026-05-31
    days on market $80,000 Active 242 DOM
15. 2026-05-30
    days on market $80,000 Active 241 DOM
16. 2026-01-14
    price $89,000 703-char remark

    Show marketing remark (703 chars)

    NOTICE: We are not considering seller financing or creative financing offers that do not consist of us in recorded first lien position with a minimum of 30% down. Thank you for understanding! This property is being sold as part of an 46-unit portfolio or a 7-unit sub-portfolio. In place cap is ~8.5%, pro forma cap is ~11.0%, and occupancy is 100%. Asking price for the 46-unit portfolio is $3.57M and asking price for the 5-unit sub-portfolio is $597.5K. The sub-portfolio includes 205 Eastern, 323 Langdon, 2388 York, 1512 Vinal, 142 S Detroit, 56 E Pearl, and 920 Rogers. The entire 46-unit list can be found in the attachments. Property is occupied and photos are from the last time it was vacant.

17. 2025-11-10
    price $93,430 703-char remark

    Show marketing remark (703 chars)

    NOTICE: We are not considering seller financing or creative financing offers that do not consist of us in recorded first lien position with a minimum of 30% down. Thank you for understanding! This property is being sold as part of an 46-unit portfolio or a 7-unit sub-portfolio. In place cap is ~8.5%, pro forma cap is ~11.0%, and occupancy is 100%. Asking price for the 46-unit portfolio is $3.57M and asking price for the 5-unit sub-portfolio is $597.5K. The sub-portfolio includes 205 Eastern, 323 Langdon, 2388 York, 1512 Vinal, 142 S Detroit, 56 E Pearl, and 920 Rogers. The entire 46-unit list can be found in the attachments. Property is occupied and photos are from the last time it was vacant.

18. 2025-10-14
    price $41,000 373-char remark

    Show marketing remark (373 chars)

    3 bedroom, 1 bath home in a great location! Large living room, nice sized dining room and fenced in yard. Updated furnace and hot water tank both being 3 years old. Chimney liner was installed less than 2 years ago. Long term tenant paying $750 per month, paying all utilities and doing the lawn care. Call today for your private showing. This home is priced to sell!

19. 2025-10-14
    price $32,000

    Show marketing remark (373 chars)

    3 bedroom, 1 bath home in a great location! Large living room, nice sized dining room and fenced in yard. Updated furnace and hot water tank both being 3 years old. Chimney liner was installed less than 2 years ago. Long term tenant paying $750 per month, paying all utilities and doing the lawn care. Call today for your private showing. This home is priced to sell!

20. 2025-10-14
    price $11,000

    Show marketing remark (373 chars)

    3 bedroom, 1 bath home in a great location! Large living room, nice sized dining room and fenced in yard. Updated furnace and hot water tank both being 3 years old. Chimney liner was installed less than 2 years ago. Long term tenant paying $750 per month, paying all utilities and doing the lawn care. Call today for your private showing. This home is priced to sell!

21. 2025-09-25
    listed $98,500 Active 703-char remark

    Show marketing remark (703 chars)

    NOTICE: We are not considering seller financing or creative financing offers that do not consist of us in recorded first lien position with a minimum of 30% down. Thank you for understanding! This property is being sold as part of an 46-unit portfolio or a 7-unit sub-portfolio. In place cap is ~8.5%, pro forma cap is ~11.0%, and occupancy is 100%. Asking price for the 46-unit portfolio is $3.57M and asking price for the 5-unit sub-portfolio is $597.5K. The sub-portfolio includes 205 Eastern, 323 Langdon, 2388 York, 1512 Vinal, 142 S Detroit, 56 E Pearl, and 920 Rogers. The entire 46-unit list can be found in the attachments. Property is occupied and photos are from the last time it was vacant.

22. 2022-11-10
    status Pending 373-char remark

    Show marketing remark (373 chars)

    3 bedroom, 1 bath home in a great location! Large living room, nice sized dining room and fenced in yard. Updated furnace and hot water tank both being 3 years old. Chimney liner was installed less than 2 years ago. Long term tenant paying $750 per month, paying all utilities and doing the lawn care. Call today for your private showing. This home is priced to sell!

23. 2022-11-08
    soldstatus $41,000 Closed 373-char remark

    Show marketing remark (373 chars)

    3 bedroom, 1 bath home in a great location! Large living room, nice sized dining room and fenced in yard. Updated furnace and hot water tank both being 3 years old. Chimney liner was installed less than 2 years ago. Long term tenant paying $750 per month, paying all utilities and doing the lawn care. Call today for your private showing. This home is priced to sell!

24. 2022-10-14
    historical Contingent 373-char remark

    Show marketing remark (373 chars)

    3 bedroom, 1 bath home in a great location! Large living room, nice sized dining room and fenced in yard. Updated furnace and hot water tank both being 3 years old. Chimney liner was installed less than 2 years ago. Long term tenant paying $750 per month, paying all utilities and doing the lawn care. Call today for your private showing. This home is priced to sell!

25. 2022-07-25
    price $44,000 373-char remark

    Show marketing remark (373 chars)

    3 bedroom, 1 bath home in a great location! Large living room, nice sized dining room and fenced in yard. Updated furnace and hot water tank both being 3 years old. Chimney liner was installed less than 2 years ago. Long term tenant paying $750 per month, paying all utilities and doing the lawn care. Call today for your private showing. This home is priced to sell!

26. 2022-05-13
    listed $49,000 Active 373-char remark

    Show marketing remark (373 chars)

    3 bedroom, 1 bath home in a great location! Large living room, nice sized dining room and fenced in yard. Updated furnace and hot water tank both being 3 years old. Chimney liner was installed less than 2 years ago. Long term tenant paying $750 per month, paying all utilities and doing the lawn care. Call today for your private showing. This home is priced to sell!

27. 2022-05-08
    historical $49,000 373-char remark

    Show marketing remark (373 chars)

    3 bedroom, 1 bath home in a great location! Large living room, nice sized dining room and fenced in yard. Updated furnace and hot water tank both being 3 years old. Chimney liner was installed less than 2 years ago. Long term tenant paying $750 per month, paying all utilities and doing the lawn care. Call today for your private showing. This home is priced to sell!

28. 2020-09-15
    soldstatus $32,000
29. 2020-08-06
    listed $34,900
30. 2020-06-10
    historical
31. 2019-12-08
    listed $19,900
32. 2019-04-23
    soldstatus $11,000
33. 2019-03-29
    listed $12,000

ⓘ 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: $1,159 · $97/mo
• Projected year-2 tax: $1,203 · $100/mo
• Expected delta: +$45/yr (+$4/mo · 3.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% 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: $15,823
• − Mortgage interest: −$4,481
• − Property taxes: −$1,159
• − Insurance: −$400
• − Repairs & maintenance: −$1,266
• − Management: −$1,266
• − Depreciation: −$2,327
• Taxable income: $4,924
• Est. tax owed @ 24.0%: −$1,182
• After-tax cash flow: $4,725/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

+641.7% since first listed

18 events — show timeline

• 2026-01-14 Price Changed $89,000 NORIS
• 2025-11-10 Price Changed $93,430 NORIS
• 2025-10-14 Price Changed $41,000 NORIS
• 2025-10-14 Price Changed $32,000 NORIS
• 2025-10-14 Price Changed $11,000 NORIS
• 2025-09-25 Listed $98,500 NORIS
• 2022-11-10 Pending — NORIS
• 2022-11-08 Sold (MLS) $41,000 NORIS
• 2022-10-14 Contingent — NORIS
• 2022-07-25 Price Changed $44,000 NORIS
• 2022-05-13 Listed $49,000 NORIS
• 2022-05-08 Coming Soon $49,000 NORIS
• 2020-09-15 Sold (MLS) $32,000 NORIS
• 2020-08-06 Listed $34,900 NORIS
• 2020-06-10 Listing Removed — NORIS
• 2019-12-08 Listed $19,900 NORIS
• 2019-04-23 Sold (MLS) $11,000 NORIS
• 2019-03-29 Listed $12,000 NORIS

Property tax history

+4.8%/yr

Latest (2025): $1,159 · +16.4% YoY. Source: county tax records.