1202 Nevada St · Toledo, OH 43605

$245,000

9 bd · 6.0 ba · 6,912 sqft · MultiFamily public records · 36 Days on market

Built 1897 3,593 sqft lot

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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
• Rent growth +3.8/5.0
• Livability +3.3/5.0
• 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 (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Includes 2 parcels, 09-65467 & 09-65474, which consist of ONE (1) multi family unit and TWO (2) single family homes. All 3 buildings occupy both parcels for $49,900 (8 units total). Multi family unit has 6 of 6 units leased. Both single family homes on Willard need rehab. Highly motivated seller! 1202 Nevada, 609 & 611 Willard.

Key facts

• 3,593 sq ft lot
• Built 1897
• Listed 35 days

Property features AI

Finance

• Other: Lot size approximately 0.08 acre
• Financial info: 6 total units (all leased); Tenants pay electricity and gas; Owner pays water and sewer

Exterior

• Parking: Alley access; Driveway
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Residential income property (apartment/multi-family); Two-story building; Single building
• Construction: Aluminum siding; Other foundation (not specified); Built as multi-family apartment
• Exterior features: Shingle roof; Corner lot

Interior

• Flooring: Other flooring (not specified)
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: Other interior features (not specified)
• Laundry & utility: Laundry features (not specified)

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $245k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $348/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $245k).
• Recommended offer: $238k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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: Raymer Elementary School (math 14% / reading 16%, grade F, #1,377 of 1,584 statewide, top 87%, 424 students, 0% FRL); Waite High School (math 12% / reading 24%, grade F, #687 of 781 statewide, top 88%, 997 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: Rents rising fast (+5.4%/yr); 119 active listings in the ZIP; lower-income renter base — watch delinquency; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• At $3,709/mo this rent would consume 114% 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 $2k of loan paydown is wiped out by about $7k 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 $69k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 20y 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.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $237,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1897 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.51% ✓
• Cap rate: 11.41%
• Cash-on-cash: 18.27%
• DSCR: 1.81
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.37% rent growth · sell at horizon

5-year hold

• IRR: 12.8%
• Equity multiple: 1.53×
• Total profit: $36,040
• Equity at exit: $36,530

10-year hold

• IRR: 23.6%
• Equity multiple: 3.28×
• Total profit: $156,737
• Equity at exit: $21,183

Cash invested: $68,600 (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: 119
• Price-to-rent: 16.5×

Monthly cashflow live

• Estimated rent: $3,709 medium
• Mortgage (P&I): −$1,285
• Tax from tax record: −$499 /mo · $5,987/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$779
• Net cashflow: $1,044

Break-even live

Break-even rent $2,387

Max offer price $245,000

Occupancy floor 67%

Sensitivity live

Price	-10% $1,183	-5% $1,114	+0% $1,044	+5% $975	+10% $906
Rent	-10% $751	-5% $898	+0% $1,044	+5% $1,191	+10% $1,337
Rate	-1.0pp $1,168	-0.5pp $1,107	base $1,044	+0.5pp $981	+1.0pp $916

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$3,708
Total (3 units)			$3,709

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-21
   pricedays on market $245,000 Active 36 DOM
2. 2026-06-18
   days on market $250,000 Active 33 DOM
3. 2026-06-17
   days on market $250,000 Active 32 DOM
4. 2026-06-16
   days on market $250,000 Active 31 DOM
5. 2026-06-15
   days on market $250,000 Active 30 DOM
6. 2026-06-14
   days on market $250,000 Active 28 DOM
7. 2026-06-10
   days on market $250,000 Active 25 DOM
8. 2026-06-09
   days on market $250,000 Active 24 DOM
9. 2026-06-08
   days on market $250,000 Active 23 DOM
10. 2026-06-07
    days on market $250,000 Active 22 DOM
11. 2026-06-05
    days on market $250,000 Active 19 DOM
12. 2026-06-03
    days on market $250,000 Active 18 DOM
13. 2026-06-02
    days on market $250,000 Active 17 DOM
14. 2026-06-01
    days on market $250,000 Active 16 DOM
15. 2026-05-31
    days on market $250,000 Active 15 DOM
16. 2026-05-30
    days on market $250,000 Active 14 DOM
17. 2026-05-14
    listed $250,000 Active
18. 2026-02-17
    soldstatus $230,000
19. 2026-02-17
    soldstatus $230,000
20. 2026-02-11
    soldstatus $180,000
21. 2025-10-14
    price $8,500 338-char remark

    Show marketing remark (338 chars)

    Includes 2 parcels, 09-65467 & 09-65474, which consist of ONE (1) multi family unit and TWO (2) single family homes. All 3 buildings occupy both parcels for $49,900 (8 units total). Multi family unit has 6 of 6 units leased. Both single family homes on Willard need rehab. Highly motivated seller! 1202 Nevada, 609 & 611 Willard.

22. 2025-10-13
    price $130,000 144-char remark

    Show marketing remark (144 chars)

    $3100 rent per month! Expenses: taxes-$365, water- $150, Property management $365 NOI= $2220 per month! Great opportunity, solid income producer

23. 2025-10-09
    historical
24. 2025-06-10
    price $295,000
25. 2025-05-14
    listed $325,000 Active
26. 2025-05-09
    historical
27. 2024-12-19
    listed $500
28. 2014-10-29
    soldstatus $25,500
29. 2014-10-28
    soldstatus $8,500 338-char remark

    Show marketing remark (338 chars)

    Includes 2 parcels, 09-65467 & 09-65474, which consist of ONE (1) multi family unit and TWO (2) single family homes. All 3 buildings occupy both parcels for $49,900 (8 units total). Multi family unit has 6 of 6 units leased. Both single family homes on Willard need rehab. Highly motivated seller! 1202 Nevada, 609 & 611 Willard.

30. 2014-06-05
    listed $49,900 338-char remark

    Show marketing remark (338 chars)

    Includes 2 parcels, 09-65467 & 09-65474, which consist of ONE (1) multi family unit and TWO (2) single family homes. All 3 buildings occupy both parcels for $49,900 (8 units total). Multi family unit has 6 of 6 units leased. Both single family homes on Willard need rehab. Highly motivated seller! 1202 Nevada, 609 & 611 Willard.

31. 2014-03-14
    historical
32. 2014-01-17
    listed $79,000
33. 2013-12-31
    historical
34. 2013-03-27
    listed $94,900
35. 2013-03-26
    historical
36. 2012-09-26
    listed $125,000
37. 2011-02-18
    soldstatus $130,000 144-char remark

    Show marketing remark (144 chars)

    $3100 rent per month! Expenses: taxes-$365, water- $150, Property management $365 NOI= $2220 per month! Great opportunity, solid income producer

38. 2011-02-17
    soldstatus $130,000
39. 2011-02-17
    soldstatus $130,000
40. 2010-06-22
    listed $135,000 144-char remark

    Show marketing remark (144 chars)

    $3100 rent per month! Expenses: taxes-$365, water- $150, Property management $365 NOI= $2220 per month! Great opportunity, solid income producer

41. 2010-04-24
    historical
42. 2010-02-14
    listed $135,000
43. 2009-12-30
    historical
44. 2009-05-12
    listed $179,900
45. 2008-11-12
    historical
46. 2007-12-13
    listed $220,000
47. 2007-11-21
    historical
48. 2007-08-21
    listed $225,000
49. 2007-05-11
    historical
50. 2006-11-10
    listed $179,900

ⓘ 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: $5,987 · $499/mo
• Projected year-2 tax: $5,987 · $499/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 6/10 Major FEMA zone X (unshaded) · 69% 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: $44,508
• − Mortgage interest: −$13,724
• − Property taxes: −$5,987
• − Insurance: −$1,225
• − Repairs & maintenance: −$3,561
• − Management: −$3,561
• − Depreciation: −$7,127
• Taxable income: $9,324
• Est. tax owed @ 24.0%: −$2,238
• After-tax cash flow: $10,294/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

+244.8% since first listed

35 events — show timeline

• 2026-05-14 Listed $250,000 NORIS
• 2026-02-17 Sold (Public Records) $230,000 Public Records
• 2026-02-17 Sold (Public Records) $230,000 Public Records
• 2026-02-11 Sold (Public Records) $180,000 Public Records
• 2025-10-14 Price Changed $8,500 NORIS
• 2025-10-13 Price Changed $130,000 NORIS
• 2025-10-09 Listing Removed — NORIS
• 2025-06-10 Price Changed $295,000 NORIS
• 2025-05-14 Listed $325,000 NORIS
• 2025-05-09 Coming Soon — NORIS
• 2024-12-19 Listed $500 NORIS
• 2014-10-29 Sold (Public Records) $25,500 Public Records
• 2014-10-28 Sold (MLS) $8,500 NORIS
• 2014-06-05 Listed $49,900 NORIS
• 2014-03-14 Listing Removed — NORIS
• 2014-01-17 Listed $79,000 NORIS
• 2013-12-31 Listing Removed — NORIS
• 2013-03-27 Listed $94,900 NORIS
• 2013-03-26 Listing Removed — NORIS
• 2012-09-26 Listed $125,000 NORIS
• 2011-02-18 Sold (MLS) $130,000 NORIS
• 2011-02-17 Sold (Public Records) $130,000 Public Records
• 2011-02-17 Sold (Public Records) $130,000 Public Records
• 2010-06-22 Listed $135,000 NORIS
• 2010-04-24 Listing Removed — NORIS
• 2010-02-14 Listed $135,000 NORIS
• 2009-12-30 Listing Removed — NORIS
• 2009-05-12 Listed $179,900 NORIS
• 2008-11-12 Listing Removed — NORIS
• 2007-12-13 Listed $220,000 NORIS
• 2007-11-21 Listing Removed — NORIS
• 2007-08-21 Listed $225,000 NORIS
• 2007-05-11 Listing Removed — NORIS
• 2006-11-10 Listed $179,900 NORIS
• 2006-10-27 Sold (Public Records) $72,500 Public Records

Property tax history

+3.4%/yr

Latest (2025): $5,987 · +2.2% YoY. Source: county tax records.