231 E Central · Toledo, OH 43608

$53,000

2 bd · 1.0 ba · 997 sqft · SingleFamily public records · 120 Days on market

Built 1902 3,300 sqft lot $53/sqft · 29% above area Est $41k · 29% 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

Cozy 2 bedroom 1 bathroom home. This home features a new roof, with a spacious kitchen and bathroom. Long term tenant. Sold as is.

Key facts

• Spacious kitchen
• Spacious bathroom
• New roof

Tags

• NEW ROOF
• SPACIOUS KITCHEN
• SPACIOUS BATHROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $53k.

Deal economics

• At list price, monthly cash flow is $342 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($873 rent vs $53k).
• Recommended offer: $48k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.0% 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); 59 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; lower-income renter base — watch delinquency; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• This rent runs 36% of the median local income ($29k/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 $366 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 $15k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y ago; this cycle's ask has dropped $5k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $46k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $48,230 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.65% ✓
• Cap rate: 14.04%
• Cash-on-cash: 27.66%
• DSCR: 2.23
• GRM: 5.1

CMA / ARV

• ARV (median comp): $41,070
• List price: $53,000
• Delta: 29.05%
• 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
241 E Weber St	0.18mi	2/1.0	980 (-2%)	4mo	$60,000	$61	85
3377 Lagrange St	0.42mi	2/1.0	1,030 (+3%)	4mo	$80,000	$78	72
3319 Franklin Ave	0.45mi	2/1.0	958 (-4%)	3mo	$45,000	$47	70
125 E Oakland St	0.30mi	2/1.0	1,088 (+9%)	4mo	$18,000	$17	67
235 Bronson Ave	0.10mi	3/2.0 (+1)	1,104 (+11%)	2mo	$48,000	$43	66
17 W Pearl St	0.50mi	3/1.0 (+1)	966 (-3%)	2mo	$16,900	$17	65
2743 Elm St	0.34mi	3/1.0 (+1)	925 (-7%)	3mo	$68,000	$74	64
358 E Manhattan Blvd	0.49mi	3/1.0 (+1)	1,032 (+4%)	6mo	$65,000	$63	62
3118 Elm St	0.17mi	3/1.0 (+1)	1,140 (+14%)	4mo	$50,000	$44	60
40 E Oakland St	0.34mi	3/1.0 (+1)	1,110 (+11%)	4mo	$53,000	$48	57
3550 Wersell Ave	0.61mi	3/1.0 (+1)	1,054 (+6%)	3mo	$48,000	$46	55
150 W Park St	0.52mi	2/1.0	1,124 (+13%)	4mo	$12,000	$11	51

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: 22.7%
• Equity multiple: 1.94×
• Total profit: $13,991
• Equity at exit: $7,902

10-year hold

• IRR: 31.3%
• Equity multiple: 3.93×
• Total profit: $43,543
• Equity at exit: $4,582

Cash invested: $14,840 (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: 59
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $873 high
• Mortgage (P&I): −$278
• Tax from tax record: −$48 /mo · $572/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$183
• Net cashflow: $342

Break-even live

Break-even rent $440

Max offer price $53,000

Occupancy floor 56%

Sensitivity live

Price	-10% $372	-5% $357	+0% $342	+5% $327	+10% $312
Rent	-10% $273	-5% $308	+0% $342	+5% $377	+10% $411
Rate	-1.0pp $369	-0.5pp $356	base $342	+0.5pp $328	+1.0pp $314

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: $13,250
• Closing costs: $1,590
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
319 Dexter St Toledo, OH	2.0	1.0	990	$1,005	$1.02	44d	1	0.15mi
227 Everett St Toledo, OH	2.0	1.0	914	$850	$0.93	44d	1	0.20mi
3010 Warsaw St Toledo, OH	1.0	1.0	806	$525	$0.65	22d	1	0.23mi
329 Mettler St Toledo, OH	2.0	1.0	908	$975	$1.07	15d	1	0.27mi
420 Everett St Toledo, OH	2.0	1.0	1000	$975	$0.97	24d	1	0.28mi
2807 Chestnut St Unit 2 Toledo, OH	1.0	1.0	745	$495	$0.66	22d	1	0.35mi
340 E Lake St Toledo, OH	2.0	1.0	683	$775	$1.13	24d	1	0.41mi
524 E Hudson St Toledo, OH	2.0	1.0	1050	$825	$0.79	44d	1	0.41mi
333 E Lake St Toledo, OH	2.0	1.0	800	$495	$0.62	24d	1	0.43mi
225 Palmer St Toledo, OH	2.0	1.0	924	$895	$0.97	44d	1	0.45mi
405 E Manhattan Blvd Toledo, OH	2.0	1.0	1000	$900	$0.90	15d	1	0.53mi
3439 Jeannette Ave Toledo, OH	3.0	1.0	1098	$1,095	$1.00	44d	1	1.09mi
3474 Maher St Toledo, OH	2.0	1.0	736	$1,125	$1.53	44d	1	1.09mi
426 Beacon St Toledo, OH	1.0–2.0	1.0–1.5	809	$882	$1.09	15d	10	1.15mi
3405 Beaumont Dr Toledo, OH	2.0	1.0	855	$745	$0.87	15d	1	1.16mi
409 W Bancroft St Toledo, OH	2.0	1.0	730	$880	$1.21	44d	1	1.29mi
425 W Bancroft St Toledo, OH	1.0	1.0	711	$725	$1.02	44d	1	1.30mi
625 Virginia St Toledo, OH	2.0	1.0	1000	$850	$0.85	15d	1	1.34mi
625 Virginia St Toledo, OH	2.0	1.0	1000	$800	$0.80	44d	1	1.34mi
3950 Woodhaven Dr Toledo, OH	2.0	1.0	1072	$745	$0.69	24d	1	1.35mi
4013 Caroline Ave Toledo, OH	1.0	1.0	840	$800	$0.95	22d	1	1.39mi
2115 Collingwood Blvd Toledo, OH	2.0	1.0	676	$765	$1.13	24d	1	1.42mi
630 Mulberry St Toledo, OH	2.0	1.0	1000	$950	$0.95	24d	1	1.42mi
626 Walnut St Toledo, OH	3.0	1.0	1088	$995	$0.91	44d	1	1.48mi

Listing history 32 events

1. 2026-06-21
   days on market $53,000 Active 120 DOM
2. 2026-06-18
   days on market $53,000 Active 117 DOM
3. 2026-06-17
   days on market $53,000 Active 116 DOM
4. 2026-06-16
   days on market $53,000 Active 115 DOM
5. 2026-06-15
   days on market $53,000 Active 114 DOM
6. 2026-06-14
   days on market $53,000 Active 112 DOM
7. 2026-06-10
   days on market $53,000 Active 109 DOM
8. 2026-06-09
   days on market $53,000 Active 108 DOM
9. 2026-06-08
   days on market $53,000 Active 107 DOM
10. 2026-06-07
    days on market $53,000 Active 106 DOM
11. 2026-06-05
    days on market $53,000 Active 103 DOM
12. 2026-06-03
    days on market $53,000 Active 102 DOM
13. 2026-06-02
    days on market $53,000 Active 101 DOM
14. 2026-06-01
    days on market $53,000 Active 100 DOM
15. 2026-05-31
    days on market $53,000 Active 99 DOM
16. 2026-05-30
    days on market $53,000 Active 98 DOM
17. 2026-04-07
    price $53,000 132-char remark

    Show marketing remark (132 chars)

    Cozy 2 bedroom 1 bathroom home. This home features a new roof, with a spacious kitchen and bathroom. Long term tenant. Sold as is.

18. 2026-02-21
    listed $58,000 Active 132-char remark

    Show marketing remark (132 chars)

    Cozy 2 bedroom 1 bathroom home. This home features a new roof, with a spacious kitchen and bathroom. Long term tenant. Sold as is.

19. 2025-10-14
    price $25,000 170-char remark

    Show marketing remark (170 chars)

    CUTE 1 STORY, 2 BED, NATURAL WOODWORK THROUGHOUT, 1ST FLOOR LAUNDRY, GARAGE,with new roof, new siding, furnace & paint YARD AND MORE! GREAT RENTAL OR OWNER OCCUPANT!

20. 2025-10-14
    price $46,000

    Show marketing remark (170 chars)

    CUTE 1 STORY, 2 BED, NATURAL WOODWORK THROUGHOUT, 1ST FLOOR LAUNDRY, GARAGE,with new roof, new siding, furnace & paint YARD AND MORE! GREAT RENTAL OR OWNER OCCUPANT!

21. 2023-05-01
    soldstatus $46,000 Closed
22. 2023-04-28
    soldstatus $46,000
23. 2023-04-25
    status Pending
24. 2023-02-16
    listed $49,000 Active
25. 2023-01-27
    historical
26. 2022-09-21
    price $49,000
27. 2022-08-13
    listed $55,000 Active
28. 2022-03-09
    soldstatus $54,500
29. 2003-06-06
    soldstatus $25,000 170-char remark

    Show marketing remark (170 chars)

    CUTE 1 STORY, 2 BED, NATURAL WOODWORK THROUGHOUT, 1ST FLOOR LAUNDRY, GARAGE,with new roof, new siding, furnace & paint YARD AND MORE! GREAT RENTAL OR OWNER OCCUPANT!

30. 2003-04-07
    listed $27,900 170-char remark

    Show marketing remark (170 chars)

    CUTE 1 STORY, 2 BED, NATURAL WOODWORK THROUGHOUT, 1ST FLOOR LAUNDRY, GARAGE,with new roof, new siding, furnace & paint YARD AND MORE! GREAT RENTAL OR OWNER OCCUPANT!

31. 1994-09-30
    soldstatus $11,000
32. 1988-07-29
    soldstatus $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: $572 · $48/mo
• Projected year-2 tax: $699 · $58/mo
• Expected delta: +$128/yr (+$11/mo · 22.3%)

ⓘ 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: $10,477
• − Mortgage interest: −$2,969
• − Property taxes: −$572
• − Insurance: −$265
• − Repairs & maintenance: −$838
• − Management: −$838
• − Depreciation: −$1,542
• Taxable income: $3,454
• Est. tax owed @ 24.0%: −$829
• After-tax cash flow: $3,276/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

+341.7% since first listed

16 events — show timeline

• 2026-04-07 Price Changed $53,000 NORIS
• 2026-02-21 Listed $58,000 NORIS
• 2025-10-14 Price Changed $25,000 NORIS
• 2025-10-14 Price Changed $46,000 NORIS
• 2023-05-01 Sold (MLS) $46,000 NORIS
• 2023-04-28 Sold (Public Records) $46,000 Public Records
• 2023-04-25 Pending — NORIS
• 2023-02-16 Listed $49,000 NORIS
• 2023-01-27 Listing Removed — NORIS
• 2022-09-21 Price Changed $49,000 NORIS
• 2022-08-13 Listed $55,000 NORIS
• 2022-03-09 Sold (Public Records) $54,500 Public Records
• 2003-06-06 Sold (MLS) $25,000 NORIS
• 2003-04-07 Listed $27,900 NORIS
• 1994-09-30 Sold (Public Records) $11,000 Public Records
• 1988-07-29 Sold (Public Records) $12,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $572 · +3.3% YoY. Source: county tax records.