1117 Alcott St · Toledo, OH 43612

$125,000

4 bd · 2.0 ba · 1,560 sqft · MultiFamily public records · 10 Days on market

Built 1928 5,000 sqft lot Est $114k · 10% over

---

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 +4.0/5.0
• Livability +3.3/5.0
• ARV discount +3.1/15.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Lower unit tenant has been there over 20+ years. Upper unit tenant has been there 2 years. Upper unit has windows that were replace 2 years ago plus a new kitchen that is 2 years old.

Key facts

• Newer furnace
• New windows
• 5,000 sq ft lot

Tags

• NEWER FURNACE
• NEW WINDOWS

Property features AI

Finance

• Financial info: Property is a 2-unit building (1 unit leased, 1 vacant); Tenants pay all utilities; owner pays taxes

Exterior

• Parking: Driveway; On-street parking
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer
• Home design: Residential income duplex; Two-story (two and one half levels)
• Construction: Aluminum siding; Block foundation; Block basement
• Exterior features: Chain-link fencing; Shingle roof

Interior

• Kitchen: Electric Range; Refrigerator
• Flooring: Carpet
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: Other
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/0.5-bath units multifamily listed at $125k.

Deal economics

• At list price, monthly cash flow is $622 ($7k/yr) — positive. Per door: $311/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 12.3% 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: Whittier Elementary School (math 6% / reading 13%, grade F, #1,505 of 1,584 statewide, top 95%, 509 students, 0% FRL); Start High School (math 11% / reading 33%, grade F, #672 of 781 statewide, top 86%, 1,242 students, 50% FRL) — zoned schools average 25% FRL vs 72% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+6.0%/yr); 101 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• This rent runs 45% of the median local income ($51k/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 $864 of loan paydown is wiped out by about $4k 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 + 6.0% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 27y 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.
• Current owner paid $55k; list at $125k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.52% ✓
• Cap rate: 12.27%
• Cash-on-cash: 21.33%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $113,880
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
812 Alvison Rd	0.37mi	3/2.0 (-1)	1,778 (+14%)	1mo	$130,000	$73	54
3915 Lockwood Ave	0.53mi	3/2.0 (-1)	1,680 (+8%)	6mo	$103,100	$61	53
823 Custer Dr	0.72mi	4/2.0	1,596 (+2%)	18mo	$95,000	$60	48
4013 Caroline Ave	0.66mi	3/2.0 (-1)	1,680 (+8%)	8mo	$130,000	$77	45

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 · 6.01% rent growth · sell at horizon

5-year hold

• IRR: 17.3%
• Equity multiple: 1.72×
• Total profit: $25,341
• Equity at exit: $18,638

10-year hold

• IRR: 27.9%
• Equity multiple: 3.83×
• Total profit: $99,148
• Equity at exit: $10,808

Cash invested: $35,000 (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 43612

• Home prices YoY: -17.5%
• Rents YoY: 6.0%
• Active inventory: 101
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,902 high
• Mortgage (P&I): −$656
• Tax from tax record: −$173 /mo · $2,074/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $622

Break-even live

Break-even rent $1,115

Max offer price $125,000

Occupancy floor 62%

Sensitivity live

Price	-10% $693	-5% $658	+0% $622	+5% $587	+10% $551
Rent	-10% $472	-5% $547	+0% $622	+5% $697	+10% $772
Rate	-1.0pp $685	-0.5pp $654	base $622	+0.5pp $590	+1.0pp $557

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	0.5	$1,902
Total (2 units)			$1,902

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4459 N Haven Ave Toledo, OH	3.0	1.0	1416	$1,200	$0.85	15d	1	0.07mi
4406 Asbury Dr Toledo, OH	4.0	2.0	1089	$1,550	$1.42	15d	1	0.35mi
4129 Vermaas Ave Toledo, OH	3.0	1.5	1385	$1,250	$0.90	45d	1	0.48mi
4223 Birchall Rd Toledo, OH	3.0	1.0	1338	$1,395	$1.04	25d	1	0.49mi
3915 Willys Pkwy Unit 3915 Toledo, OH	3.0	1.0	1080	$800	$0.74	22d	1	0.59mi
4140 Caroline Ave Toledo, OH	3.0	1.5	1378	$1,650	$1.20	25d	1	0.60mi
4120 Parrakeet Ave Toledo, OH	3.0	2.0	1410	$1,450	$1.03	45d	1	0.61mi
1014 Berdan Ave Toledo, OH	3.0	1.0	1215	$1,200	$0.99	45d	1	0.69mi
4614 Commonwealth Ave Toledo, OH	3.0	1.5	1459	$1,295	$0.89	15d	1	0.70mi
3905 Peru St Toledo, OH	4.0	3.0	1548	$1,300	$0.84	22d	1	0.70mi
4038 Lyman Ave Toledo, OH	3.0	1.0	1175	$1,395	$1.19	45d	1	0.71mi
1477 W Sylvania Ave Toledo, OH	3.0	1.0	1570	$1,250	$0.80	45d	1	0.72mi
3805 Hoiles Ave Toledo, OH	3.0	1.0	1370	$1,025	$0.75	25d	1	0.76mi
3725 Hoiles Ave Toledo, OH	3.0	1.0	1180	$1,245	$1.06	25d	1	0.78mi
3615 Berkeley Dr Toledo, OH	3.0	1.0	1096	$1,400	$1.28	15d	1	0.80mi
3713 Hazelhurst Ave Toledo, OH	3.0	1.5	1352	$1,700	$1.26	45d	1	0.84mi
3541 Willys Pkwy Toledo, OH	3.0	1.0	1113	$1,400	$1.26	45d	1	0.90mi
1489 Berdan Ave Toledo, OH	3.0	1.0	1068	$1,250	$1.17	45d	1	0.93mi
4315 Garden Park Dr Toledo, OH	3.0	1.0	1268	$1,423	$1.12	25d	1	0.95mi
3606 Revere Dr Toledo, OH	4.0	1.0	1320	$1,500	$1.14	45d	1	0.97mi
614 Cadillac Ct Toledo, OH	3.0	1.0	1581	$1,075	$0.68	25d	1	1.32mi
610 Cadillac Ct Toledo, OH	3.0	1.0	1409	$1,050	$0.75	25d	1	1.33mi
1731 Mansfield Rd Toledo, OH	3.0	1.0	1138	$1,195	$1.05	25d	1	1.33mi
3683 Upton Ave Toledo, OH	3.0	1.0	1119	$1,100	$0.98	45d	1	1.39mi

Listing history 7 events

1. 2026-06-21
   days on market $125,000 Active 10 DOM
2. 2026-06-18
   days on market $125,000 Active 7 DOM
3. 2026-06-17
   days on market $125,000 Active 6 DOM
4. 2026-06-16
   days on market $125,000 Active 5 DOM
5. 2026-06-15
   days on market $125,000 Active 4 DOM
6. 2026-06-14
   remarks 78-char remark
7. 2026-06-14
   listed $125,000 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: $2,074 · $173/mo
• Projected year-2 tax: $2,074 · $173/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 ≥101°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: $22,824
• − Mortgage interest: −$7,002
• − Property taxes: −$2,074
• − Insurance: −$625
• − Repairs & maintenance: −$1,826
• − Management: −$1,826
• − Depreciation: −$3,636
• Taxable income: $5,835
• Est. tax owed @ 24.0%: −$1,400
• After-tax cash flow: $6,065/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): 28,480
• Household income: $50,728
• Rent vs Own: 45.4% rent · 54.6% own
• Severe rent burden: 1203.0

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: Majority White (63%)
• Race & ethnicity: White 63% Black 23% Two or more races 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Romanian 9% Lithuanian 3% Italian 1%
• Foreign-born: 2% · 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: ▼ -50.05%
• Current HPI: 235.5389
• Rent YoY: ▲ 6.01%
• 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

+61.3% since first listed

17 events — show timeline

• 2026-06-11 Listed $125,000 NORIS
• 2025-10-14 Price Changed $55,000 NORIS
• 2024-01-12 Pending — NORIS
• 2024-01-12 Listing Removed — NORIS
• 2023-12-27 Relisted — NORIS
• 2023-12-07 Contingent — NORIS
• 2023-10-04 Listed $119,900 NORIS
• 2019-06-07 Sold (Public Records) $55,000 Public Records
• 2019-05-24 Sold (MLS) $55,000 NORIS
• 2019-04-22 Listed $64,500 NORIS
• 2018-12-09 Listing Removed — NORIS
• 2018-08-07 Listing Removed — NORIS
• 2018-08-06 Listed $69,500 NORIS
• 2018-06-10 Listed $73,500 NORIS
• 2000-06-01 Sold (Public Records) $70,000 Public Records
• 1999-11-19 Listing Removed — NORIS
• 1999-08-18 Listed $77,500 NORIS

Property tax history

+2.3%/yr

Latest (2025): $2,074 · +3.7% YoY. Source: county tax records.