726 Colima Dr · Toledo, OH 43609

$123,900

3 bd · 1.0 ba · 1,192 sqft · SingleFamily public records · 33 Days on market

Built 1927 8,764 sqft lot Est $88k · 40% over

---

Why this score? — see what drove the D+ 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 +20.8/30.0
• DSCR +6.6/10.0
• Appreciation +5.4/10.0
• 1% rule +4.8/10.0
• Rent growth +4.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0

Listing remarks

Charming, well maintained, two story home on a double lot is full of character. Front covered porch with swing. Living room features decorative fireplace & curved archways to dining room & stairwell. Crown molding in living & dining rooms. Beautifully updated kitchen has a closet with built in table, nice white cupboards & all appliances stay. Solid oak doors, rich woodwork throughout. Hardwood floors in all bedrooms. Ceiling fans throughout. Relax on the rear deck & patio overlooking the fenced lot. Washer, dryer and freezer in basement stay! Updates include: hot water tank '17, A/C '16, furnace '15, roof tear-off '13, electrical box '10. Seller is also provid

Key facts

• Front covered porch
• Decorative fireplace
• Curved archways

Tags

• DOUBLE LOT
• FRONT COVERED PORCH
• DECORATIVE FIREPLACE
• CURVED ARCHWAYS
• CROWN MOLDING
• UPDATED KITCHEN

Property features AI

Exterior

• Parking: Detached garage; 2 garage spaces; Concrete driveway with ribbon detail; 2 total parking spaces
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer
• Home design: Single-family house; Two levels (2 stories); Not attached to other structures
• Construction: Shingle roof; Asphalt construction material; Block foundation; Built year from public records
• Exterior features: Deck; Covered front porch; Rear patio; Split rail fencing; Lot about 0.20 acres; Additional parcel included

Interior

• Kitchen: Dishwasher; Electric oven; Disposal; Refrigerator; Free‑standing freezer
• Bedrooms: Upper-level bedroom (12 x 11) with ceiling fan; Upper-level Bedroom 2 (11 x 11) with ceiling fan; Upper-level Bedroom 3 (10 x 8) with ceiling fan
• Flooring: Hardwood; Carpet; Linoleum; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fans throughout; Crown molding; Storm windows and screens; 1 fireplace in the living room; 6 total rooms; Basement present
• Laundry & utility: Washer and dryer included; Laundry sink in basement; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $124k.

Deal economics

• At list price, monthly cash flow is $171 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (1.9% below list).
• Recommended offer: $120k (3.0% below list) — sets the bar for market timing.

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: Burroughs Elementary School (math 12% / reading 22%, grade F, #1,337 of 1,584 statewide, top 86%, 311 students, 0% FRL); Bowsher High School (math 23% / reading 45%, grade F, #596 of 781 statewide, top 76%, 1,240 students, 49% 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 (+7.8%/yr); 99 active listings in the ZIP; 23 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).
• This rent runs 34% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $2k of equity ($857 loan paydown + $929 appreciation (0.8% local appreciation)).
• Lucas County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.8% appreciation + 7.8% rent growth), your $35k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($120k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,183 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.98% ✗
• Cap rate: 7.95%
• Cash-on-cash: 5.91%
• DSCR: 1.26
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $88,208
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2437 Airport Hwy	0.20mi	3/2.0	1,190 (-0%)	6mo	$105,000	$88	81
725 S Westwood Ave	0.09mi	3/2.0	1,148 (-4%)	9mo	$125,000	$109	79
2828 South Ave	0.41mi	3/1.0	1,200 (+1%)	7mo	$58,500	$49	74
532 Colima Dr	0.22mi	3/1.0	1,052 (-12%)	4mo	$56,500	$54	67
576 Bronx Dr	0.14mi	3/1.0	1,016 (-15%)	8mo	$64,350	$63	62
531 Shasta Dr	0.74mi	3/1.0	1,143 (-4%)	5mo	$53,000	$46	55
838 Wylie Ave	0.62mi	2/1.0 (-1)	1,104 (-7%)	6mo	$123,000	$111	49
812 National Ave	0.73mi	3/1.5	1,315 (+10%)	4mo	$105,000	$80	44
638 Foredale Ave	0.75mi	3/1.0	1,078 (-10%)	8mo	$75,000	$70	43
2244 Dunham St	0.60mi	3/1.0	1,028 (-14%)	9mo	$95,000	$92	41
321 Mayberry St	0.69mi	3/1.5	1,362 (+14%)	6mo	$68,000	$50	37
256 Decatur St	0.75mi	3/2.0	1,364 (+14%)	1mo	$100,500	$74	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.75% appreciation · 7.8% rent growth · sell at horizon

5-year hold

• IRR: 9.9%
• Equity multiple: 1.51×
• Total profit: $17,822
• Equity at exit: $40,689

10-year hold

• IRR: 16.9%
• Equity multiple: 3.27×
• Total profit: $78,764
• Equity at exit: $52,850

Cash invested: $34,692 (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 43609

• Home prices YoY: 0.3%
• Rents YoY: 7.8%
• Active inventory: 99
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,216 high
• Mortgage (P&I): −$650
• Tax from tax record: −$88 /mo · $1,057/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $171

Break-even live

Break-even rent $999

Max offer price $123,900

Occupancy floor 81%

Sensitivity live

Price	-10% $241	-5% $206	+0% $171	+5% $136	+10% $101
Rent	-10% $75	-5% $123	+0% $171	+5% $219	+10% $267
Rate	-1.0pp $233	-0.5pp $202	base $171	+0.5pp $139	+1.0pp $106

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: $30,975
• Closing costs: $3,717
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
619 Durango Dr Toledo, OH	3.0	1.0	1276	$1,350	$1.06	44d	1	0.05mi
581 Colima Dr Toledo, OH	2.0	1.0	900	$1,100	$1.22	14d	1	0.11mi
569 Colima Dr Toledo, OH	3.0	1.0	1253	$1,300	$1.04	24d	1	0.12mi
2314 Airline Ave Toledo, OH	3.0	1.0	1123	$1,478	$1.32	24d	1	0.60mi
307 Danberry St Toledo, OH	2.0	1.0	988	$950	$0.96	44d	1	0.65mi
2044 Arlington Ave Toledo, OH	2.0	1.0	800	$825	$1.03	22d	1	0.66mi
3310 Arlington Ave Unit 4 Toledo, OH	2.0	1.0	850	$795	$0.94	44d	1	0.99mi
3310 Arlington Ave Unit 8 Toledo, OH	2.0	1.0	850	$850	$1.00	14d	1	0.99mi
3320 Arlington Ave Apt 2 Toledo, OH	2.0	1.0	850	$795	$0.94	24d	1	1.01mi
3406 Gibraltar Heights Dr Toledo, OH	2.0	1.0–2.0	678	$919	$1.35	14d	14	1.02mi
3349 Airport Hwy Toledo, OH	1.0–2.0	1.0	791	$885	$1.12	44d	1	1.03mi
3313 Arlington Ave Toledo, OH	1.0–2.0	1.0	778	$900	$1.16	14d	8	1.04mi
1734 Arlington Ave Toledo, OH	2.0	1.0	700	$800	$1.14	14d	1	1.06mi
3348 Arlington Ave Apt 10 Toledo, OH	2.0	1.0	900	$795	$0.88	44d	1	1.06mi
1510 Watova Rd Toledo, OH	3.0	1.0	1197	$1,495	$1.25	22d	1	1.07mi
1255 S Byrne Rd Toledo, OH	1.0–3.0	1.0–2.0	1080	$1,529	$1.42	14d	1	1.10mi
1223 Oak Hill Ct Toledo, OH	1.0–2.0	1.0	800	$989	$1.24	14d	1	1.10mi
916 S Byrne Rd Toledo, OH	2.0	1.0	900	$899	$1.00	22d	1	1.16mi
705 Nicholas St Toledo, OH	2.0	1.0	1037	$900	$0.87	44d	1	1.35mi
523 Nicholas St Toledo, OH	3.0	1.0	1290	$1,350	$1.05	14d	1	1.36mi
532 Carlton St Toledo, OH	3.0	1.0	1130	$1,050	$0.93	44d	1	1.39mi
724 Spencer St Toledo, OH	3.0	1.5	1127	$1,100	$0.98	44d	1	1.42mi
3042 Cragmoor Ave Toledo, OH	3.0	1.0	1250	$1,800	$1.44	44d	1	1.48mi

Listing history 13 events

1. 2026-06-14
   statusdays on market $123,900 Pending 33 DOM
2. 2026-06-10
   days on market $123,900 Contingent 31 DOM
3. 2026-06-09
   days on market $123,900 Contingent 30 DOM
4. 2026-06-08
   days on market $123,900 Contingent 29 DOM
5. 2026-06-07
   days on market $123,900 Contingent 28 DOM
6. 2026-06-05
   days on market $123,900 Contingent 25 DOM
7. 2026-06-03
   days on market $123,900 Contingent 24 DOM
8. 2026-06-02
   days on market $123,900 Contingent 23 DOM
9. 2026-06-01
   days on market $123,900 Contingent 22 DOM
10. 2026-05-31
    days on market $123,900 Contingent 21 DOM
11. 2026-05-30
    days on market $123,900 Contingent 20 DOM
12. 2026-05-14
    historical Contingent
13. 2026-05-08
    listed $123,900 Active

ⓘ 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: $1,057 · $88/mo
• Projected year-2 tax: $1,495 · $125/mo
• Expected delta: +$438/yr (+$37/mo · 41.4%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,587
• − Mortgage interest: −$6,940
• − Property taxes: −$1,057
• − Insurance: −$620
• − Repairs & maintenance: −$1,167
• − Management: −$1,167
• − Depreciation: −$3,604
• Taxable income: $32
• Est. tax owed @ 24.0%: −$8
• After-tax cash flow: $2,043/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): 21,404
• Household income: $42,313
• Rent vs Own: 55.7% rent · 44.3% own
• Severe rent burden: 1603.0

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 0.66)
• Race & ethnicity: White 47% Black 29% Hispanic / Latino 17% Two or more races 9%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Arabic 1% 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: ▲ 0.75%
• Current HPI: 235.2515
• Rent YoY: ▲ 7.80%
• 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

2 events — show timeline

• 2026-05-14 Contingent — NORIS
• 2026-05-08 Listed $123,900 NORIS

Property tax history

+3.2%/yr

Latest (2025): $1,057 · -0.6% YoY. Source: county tax records.