1601 Nevada St · Toledo, OH 43605

$95,000

4 bd · 2.0 ba · 1,976 sqft · MultiFamily public records · 70 Days on market

Built 1913 4,100 sqft lot $48/sqft · 29% above area Est $74k · 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 +3.8/5.0
• 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

Multi-family units

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

Listing remarks MLS

Twinplex, 2 Beds each, newer furnaces in separate basements. Pex plumbing, updated electric panels, units need some TLC to be rent ready. Electric is on for 1603, all other utilities are off, take a flashlight. Seller financed mortgage considered.

Key facts

• Pex plumbing
• Newer furnaces
• 4,100 sq ft lot

Tags

• NEWER FURNACES
• PEX PLUMBING
• UPDATED ELECTRIC PANELS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $95k.

Deal economics

• At list price, monthly cash flow is $857 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.1% 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-, 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; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• At $1,921/mo this rent would consume 59% of the median local household income ($39k/yr) (locally 1257% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k 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 $27k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 25y 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 $47k; list at $95k implies a 104% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1913 — 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 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: 2.02% ✓
• Cap rate: 17.12%
• Cash-on-cash: 38.66%
• DSCR: 2.72
• GRM: 4.1

CMA / ARV

• ARV (median comp): $73,771
• List price: $95,000
• Delta: 28.78%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1326 Idaho St	0.21mi	4/2.0	1,854 (-6%)	24mo	$70,000	$38	60
425 Arden Pl	0.67mi	4/2.0	1,936 (-2%)	13mo	$60,000	$31	55
583 Dearborn Ave	0.42mi	4/2.0	2,264 (+15%)	12mo	$112,500	$50	46
912 E Broadway St	0.59mi	4/2.0	2,160 (+9%)	14mo	$67,500	$31	46
1030 E Broadway St	0.73mi	4/2.0	2,095 (+6%)	12mo	$105,000	$50	46
621 Nevada St	0.61mi	5/2.0 (+1)	1,736 (-12%)	11mo	$104,900	$60	37

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: 37.5%
• Equity multiple: 2.65×
• Total profit: $43,908
• Equity at exit: $14,165

10-year hold

• IRR: 45.3%
• Equity multiple: 5.84×
• Total profit: $128,844
• Equity at exit: $8,214

Cash invested: $26,600 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,921 high
• Mortgage (P&I): −$498
• Tax from tax record: −$123 /mo · $1,474/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $857

Break-even live

Break-even rent $836

Max offer price $95,000

Occupancy floor 50%

Sensitivity live

Price	-10% $911	-5% $884	+0% $857	+5% $830	+10% $803
Rent	-10% $705	-5% $781	+0% $857	+5% $933	+10% $1,009
Rate	-1.0pp $905	-0.5pp $881	base $857	+0.5pp $832	+1.0pp $807

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,920
Total (2 units)			$1,921

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1505 Navarre Ave Toledo, OH	3.0	1.0	1331	$1,145	$0.86	44d	1	0.25mi
2129 Nevada St Toledo, OH	3.0	1.0	1352	$1,200	$0.89	14d	1	0.51mi
245 Plymouth St Toledo, OH	3.0	1.0	1600	$1,125	$0.70	14d	1	0.52mi
29 Garfield Pl Toledo, OH	4.0	2.0	1300	$1,250	$0.96	14d	1	0.65mi
414 Platt St Unit ST-3 Toledo, OH	3.0	1.0	1500	$1,150	$0.77	24d	1	0.74mi
606 Earl St Toledo, OH	3.0	1.5	1700	$1,150	$0.68	21d	1	0.84mi
1306 Mott Ave Toledo, OH	3.0	1.5	1282	$1,149	$0.90	44d	1	0.85mi
20 Greenwood Ave Toledo, OH	3.0	1.0	1496	$1,150	$0.77	14d	1	1.17mi

Listing history 39 events

1. 2026-06-18
   days on market $95,000 Active 70 DOM
2. 2026-06-17
   days on market $95,000 Active 69 DOM
3. 2026-06-16
   days on market $95,000 Active 68 DOM
4. 2026-06-15
   days on market $95,000 Active 67 DOM
5. 2026-06-14
   days on market $95,000 Active 65 DOM
6. 2026-06-10
   days on market $95,000 Active 62 DOM
7. 2026-06-09
   days on market $95,000 Active 61 DOM
8. 2026-06-08
   days on market $95,000 Active 60 DOM
9. 2026-06-07
   days on market $95,000 Active 59 DOM
10. 2026-06-05
    days on market $95,000 Active 56 DOM
11. 2026-06-03
    days on market $95,000 Active 55 DOM
12. 2026-06-02
    days on market $95,000 Active 54 DOM
13. 2026-06-01
    days on market $95,000 Active 53 DOM
14. 2026-05-31
    days on market $95,000 Active 52 DOM
15. 2026-05-30
    days on market $95,000 Active 51 DOM
16. 2026-04-08
    listed $95,000 Active 247-char remark

    Show marketing remark (247 chars)

    Twinplex, 2 Beds each, newer furnaces in separate basements. Pex plumbing, updated electric panels, units need some TLC to be rent ready. Electric is on for 1603, all other utilities are off, take a flashlight. Seller financed mortgage considered.

17. 2025-12-03
    historical
18. 2025-10-14
    price $46,600
19. 2025-09-22
    listed $95,000 Active
20. 2023-08-17
    historical $600
21. 2023-08-04
    price $600
22. 2023-05-05
    soldstatus $46,600
23. 2023-05-03
    soldstatus $46,600 Closed
24. 2023-03-15
    historical Contingent
25. 2022-12-06
    status Active
26. 2022-11-27
    historical
27. 2022-08-12
    status Active
28. 2022-08-04
    historical Contingent
29. 2022-06-27
    listed $49,500 Active
30. 2021-04-23
    soldstatus $43,000
31. 2021-04-02
    listed $43,000
32. 2021-03-09
    historical
33. 2021-01-11
    listed $45,000
34. 2001-07-15
    historical
35. 2001-01-18
    listed $48,900
36. 1994-05-04
    soldstatus $30,000
37. 1991-03-11
    soldstatus $30,000
38. 1989-09-19
    soldstatus $34,000
39. 1981-05-14
    soldstatus $21,000

ⓘ 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: $1,474 · $123/mo
• Projected year-2 tax: $1,478 · $123/mo
• Expected delta: +$4/yr ($0/mo · 0.3%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 49% 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,052
• − Mortgage interest: −$5,321
• − Property taxes: −$1,474
• − Insurance: −$475
• − Repairs & maintenance: −$1,844
• − Management: −$1,844
• − Depreciation: −$2,764
• Taxable income: $9,330
• Est. tax owed @ 24.0%: −$2,239
• After-tax cash flow: $8,045/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

+352.4% since first listed

24 events — show timeline

• 2026-04-08 Listed $95,000 NORIS
• 2025-12-03 Listing Removed — NORIS
• 2025-10-14 Price Changed $46,600 NORIS
• 2025-09-22 Listed $95,000 NORIS
• 2023-08-17 Rental Removed $600 APPFOLIO
• 2023-08-04 Price Changed $600 APPFOLIO
• 2023-05-05 Sold (Public Records) $46,600 Public Records
• 2023-05-03 Sold (MLS) $46,600 NORIS
• 2023-03-15 Contingent — NORIS
• 2022-12-06 Relisted — NORIS
• 2022-11-27 Listing Removed — NORIS
• 2022-08-12 Relisted — NORIS
• 2022-08-04 Contingent — NORIS
• 2022-06-27 Listed $49,500 NORIS
• 2021-04-23 Sold (MLS) $43,000 NORIS
• 2021-04-02 Listed $43,000 NORIS
• 2021-03-09 Listing Removed — NORIS
• 2021-01-11 Listed $45,000 NORIS
• 2001-07-15 Listing Removed — NORIS
• 2001-01-18 Listed $48,900 NORIS
• 1994-05-04 Sold (Public Records) $30,000 Public Records
• 1991-03-11 Sold (Public Records) $30,000 Public Records
• 1989-09-19 Sold (Public Records) $34,000 Public Records
• 1981-05-14 Sold (Public Records) $21,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $1,474 · +0.9% YoY. Source: county tax records.