842 Nesslewood Ave · Toledo, OH 43610

$68,900

3 bd · 2.0 ba · 1,732 sqft · MultiFamily public records · 27 Days on market

Built 1897 3,800 sqft lot $40/sqft · at area comps Est $69k · at est. ↓ 7% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +7.3/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Coming Soon! Check out this charming 3-bedroom, 2-bath home featuring one full bath and a convenient half bath on the main level. Just off the living room, you'll find a cozy den with beautiful wooden doors and glass windows, perfect for a home office, reading room, or additional living space. This home also offers a large enclosed porch ideal for relaxing or entertaining, along with a spacious side yard providing plenty of outdoor potential.

Key facts

• 3,800 sq ft lot
• Built 1897
• Listed 27 days

Property features AI

Exterior

• Parking: Small lot behind the house; Alley access; Gravel off-street parking
• Utilities: Public water; Public sewer; Other utilities
• Home design: Single-family house; Two stories; Not attached; no common walls
• Construction: Vinyl siding and other exterior materials; Block foundation; Shingle roof; Built as a residential single-family structure
• Exterior features: Enclosed porch; Wood fencing; Corner lot; Concrete road frontage

Interior

• Kitchen: Kitchen on main level (15 x 15); Dishwasher; Refrigerator
• Bedrooms: Two upper-level bedrooms (12 x 13 and 12 x 12); Additional upper-level room (18 x 15) — flexible use
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Natural gas heating; Gas cooling
• Interior features: Five total rooms; Full basement
• Laundry & utility: Washer/dryer hookup in basement; Dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $69k.

Deal economics

• At list price, monthly cash flow is $450 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $68k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.1% 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: Glenwood Elementary School (math 2% / reading 12%, grade F, #1,527 of 1,584 statewide, top 98%, 300 students, 0% FRL); Jesup W. Scott High School (math 8% / reading 17%, grade F, #726 of 781 statewide, top 94%, 736 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: 30 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 37% of the median local income ($38k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $4k of equity ($476 loan paydown + $3k appreciation (4.7% 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 (4.7% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($68k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $67,866 (1.5% below list)

Questions for the listing agent

1. Built in 1897 — 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 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: 1.70% ✓
• Cap rate: 14.13%
• Cash-on-cash: 27.98%
• DSCR: 2.24
• GRM: 4.9

CMA / ARV

• ARV (median comp): $68,952
• List price: $68,900
• Delta: -0.08%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3020 N Detroit Ave	0.11mi	4/2.0 (+1)	1,795 (+4%)	14mo	$72,000	$40	72
2434 Lawrence Ave	0.58mi	4/2.0 (+1)	1,965 (+14%)	6mo	$94,000	$48	40

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

Projected returns pro-forma

4.65% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.8%
• Equity multiple: 3.24×
• Total profit: $43,168
• Equity at exit: $37,576

10-year hold

• IRR: 35.3%
• Equity multiple: 6.52×
• Total profit: $106,454
• Equity at exit: $63,669

Cash invested: $19,292 (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 43610

• Home prices YoY: 3.8%
• Active inventory: 30
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,172 high
• Mortgage (P&I): −$361
• Tax from tax record: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $450

Break-even live

Break-even rent $603

Max offer price $68,900

Occupancy floor 57%

Sensitivity live

Price	-10% $489	-5% $469	+0% $450	+5% $430	+10% $411
Rent	-10% $357	-5% $404	+0% $450	+5% $496	+10% $542
Rate	-1.0pp $485	-0.5pp $467	base $450	+0.5pp $432	+1.0pp $414

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: $17,225
• Closing costs: $2,067
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2907 Rockwood Pl Toledo, OH	3.0	1.0	1494	$1,100	$0.74	14d	1	0.29mi
614 Cadillac Ct Toledo, OH	3.0	1.0	1581	$1,075	$0.68	24d	1	0.40mi
610 Cadillac Ct Toledo, OH	3.0	1.0	1409	$1,050	$0.75	24d	1	0.40mi
960 W Delaware Ave Toledo, OH	3.0	1.0	1224	$1,050	$0.86	24d	1	0.50mi
425 Boston Pl Unit A Toledo, OH	2.0	1.0	1200	$895	$0.75	24d	1	0.52mi
2447 Maplewood Ave Toledo, OH	2.0	1.0	1538	$897	$0.58	44d	1	0.58mi
3615 Berkeley Dr Toledo, OH	3.0	1.0	1096	$1,400	$1.28	14d	1	0.67mi
3541 Willys Pkwy Toledo, OH	3.0	1.0	1113	$1,400	$1.26	44d	1	0.70mi
1014 Berdan Ave Toledo, OH	3.0	1.0	1215	$1,200	$0.99	44d	1	0.78mi
1436 Palmetto Ave Toledo, OH	3.0	1.0	1678	$1,400	$0.83	24d	1	0.83mi
3606 Revere Dr Toledo, OH	4.0	1.0	1320	$1,500	$1.14	44d	1	0.87mi
31 W Oakland St Toledo, OH	4.0	1.0	1188	$1,249	$1.05	24d	1	0.91mi
3725 Hoiles Ave Toledo, OH	3.0	1.0	1180	$1,245	$1.06	24d	1	0.92mi
3805 Hoiles Ave Toledo, OH	3.0	1.0	1370	$1,025	$0.75	24d	1	0.94mi
3713 Hazelhurst Ave Toledo, OH	3.0	1.5	1352	$1,700	$1.26	44d	1	0.94mi
1573 Jermain Dr Toledo, OH	3.0	1.0	1254	$1,195	$0.95	14d	1	0.95mi
3915 Willys Pkwy Unit 3915 Toledo, OH	3.0	1.0	1080	$800	$0.74	22d	1	0.99mi
3950 Woodhaven Dr Toledo, OH	2.0	1.0	1072	$745	$0.69	24d	1	1.02mi
3905 Peru St Toledo, OH	4.0	3.0	1548	$1,300	$0.84	22d	1	1.04mi
1489 Berdan Ave Toledo, OH	3.0	1.0	1068	$1,250	$1.17	44d	1	1.08mi
1016 Mallett St Unit 1 Toledo, OH	2.0	1.0	1300	$900	$0.69	44d	1	1.09mi
119 Winthrop St Toledo, OH	3.0	1.0	1734	$1,350	$0.78	24d	1	1.10mi
1718 Giant St Toledo, OH	3.0	1.0	1080	$1,395	$1.29	14d	1	1.10mi
59 E Hudson St Toledo, OH	3.0	1.0	1368	$1,100	$0.80	44d	1	1.10mi
4124 Vermaas Ave Toledo, OH	2.0	1.0	1245	$997	$0.80	44d	1	1.17mi
4129 Vermaas Ave Toledo, OH	3.0	1.5	1385	$1,250	$0.90	44d	1	1.17mi
4138 N Lockwood Ave Toledo, OH	2.0	1.0	1300	$1,050	$0.81	24d	1	1.18mi
152 Austin St Toledo, OH	4.0	1.5	1370	$1,150	$0.84	24d	1	1.23mi
4140 Caroline Ave Toledo, OH	3.0	1.5	1378	$1,650	$1.20	24d	1	1.23mi
1477 W Sylvania Ave Toledo, OH	3.0	1.0	1570	$1,250	$0.80	44d	1	1.23mi
1731 Mansfield Rd Toledo, OH	3.0	1.0	1138	$1,195	$1.05	24d	1	1.24mi
4120 Parrakeet Ave Toledo, OH	3.0	2.0	1410	$1,450	$1.03	44d	1	1.33mi
4038 Lyman Ave Toledo, OH	3.0	1.0	1175	$1,395	$1.19	44d	1	1.34mi
2131 Franklin Ave Toledo, OH	2.0	2.0	1255	$900	$0.72	44d	1	1.38mi
4223 Birchall Rd Toledo, OH	3.0	1.0	1338	$1,395	$1.04	24d	1	1.39mi
4406 Asbury Dr Toledo, OH	4.0	2.0	1089	$1,550	$1.42	14d	1	1.42mi
3683 Upton Ave Toledo, OH	3.0	1.0	1119	$1,100	$0.98	44d	1	1.46mi
1026 Oakwood Ave Toledo, OH	2.0	1.0	1100	$850	$0.77	44d	1	1.48mi

Listing history 16 events

1. 2026-06-18
   days on market $68,900 Active 27 DOM
2. 2026-06-17
   days on market $68,900 Active 26 DOM
3. 2026-06-16
   days on market $68,900 Active 25 DOM
4. 2026-06-15
   days on market $68,900 Active 24 DOM
5. 2026-06-14
   days on market $68,900 Active 22 DOM
6. 2026-06-10
   days on market $68,900 Active 19 DOM
7. 2026-06-09
   days on market $68,900 Active 18 DOM
8. 2026-06-08
   days on market $68,900 Active 17 DOM
9. 2026-06-07
   days on market $68,900 Active 16 DOM
10. 2026-06-05
    pricedays on market $68,900 Active 13 DOM
11. 2026-06-03
    days on market $73,900 Active 12 DOM
12. 2026-06-02
    days on market $73,900 Active 11 DOM
13. 2026-06-01
    days on market $73,900 Active 10 DOM
14. 2026-05-31
    days on market $73,900 Active 9 DOM
15. 2026-05-30
    days on market $73,900 Active 8 DOM
16. 2026-05-15
    historical $73,900 446-char remark

ⓘ 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: $1,035 · $86/mo
• Projected year-2 tax: $1,055 · $88/mo
• Expected delta: +$20/yr (+$2/mo · 1.9%)

ⓘ 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: $14,067
• − Mortgage interest: −$3,859
• − Property taxes: −$1,035
• − Insurance: −$344
• − Repairs & maintenance: −$1,125
• − Management: −$1,125
• − Depreciation: −$2,004
• Taxable income: $4,573
• Est. tax owed @ 24.0%: −$1,098
• After-tax cash flow: $4,300/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 · 437,818 people
• City population: 280,811
• Metro: Toledo, OH
• Population (ZIP): 4,057
• Household income: $38,369
• Rent vs Own: 41.4% rent · 58.6% own
• Severe rent burden: 15.7

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 Black (64%)
• Race & ethnicity: Black 64% White 29% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Romanian 5% Iranian 3% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

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: ▲ 4.65%
• Current HPI: 126.1457
• Rent YoY: —
• Metro: —
• 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

-6.8% since first listed

3 events — show timeline

• 2026-06-03 Price Changed $68,900 NORIS
• 2026-05-22 Listed $73,900 NORIS
• 2026-05-15 Coming Soon $73,900 NORIS

Property tax history

+2.6%/yr

Latest (2025): $1,035 · -8.8% YoY. Source: county tax records.