416 Spring St · Toledo, OH 43608

$59,000

3 bd · 1.0 ba · 1,062 sqft · SingleFamily public records · 30 Days on market

Built 1917 5,200 sqft lot Est $57k · at est.

---

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 +6.2/15.0
• Rent growth +3.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent property with great potential, check it out today! Will be a steady income generating rental or great home!

Key facts

• Multiple schools
• Lead certified
• Near downtown toledo

Tags

• INVESTMENT OPPORTUNITY
• LEAD CERTIFIED
• NEAR DOWNTOWN TOLEDO
• MULTIPLE SCHOOLS

Property features AI

Finance

• Other: Lot approximately 0.12 acre; Living area reported as 1,062; Located in Lucas County

Exterior

• Parking: Detached garage; Two garage spaces; Driveway; On-street parking
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer; Electric service: Other
• Home design: Single-family house; Two levels / Two stories; Not attached to other structures; Located on a city street
• Construction: Aluminum siding; Steel siding; Shingle roof; Other foundation
• Exterior features: Balcony; Front porch; Rear porch; Garages on property

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Three bedrooms (all on the upper level)
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating
• Interior features: Six total rooms; Other interior features
• Laundry & utility: Washer hookup in basement; Gas dryer hookup in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $422 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $58k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.9% vs local median 7.7% 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: Spring Elementary School (math 2% / reading 8%, grade F, #1,554 of 1,584 statewide, top 100%, 231 students, 0% FRL); Woodward High School (math 2% / reading 22%, grade F, #726 of 781 statewide, top 94%, 672 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 (+3.9%/yr); 59 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 44% 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 $408 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 $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 19y 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 $19k; list at $59k implies a 211% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,115 (1.5% below list)

Questions for the listing agent

1. Built in 1917 — 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 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: 1.82% ✓
• Cap rate: 14.87%
• Cash-on-cash: 30.64%
• DSCR: 2.36
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $57,348
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2751 Lagrange St	0.19mi	3/1.0	1,080 (+2%)	7mo	$34,000	$31	82
235 Bronson Ave	0.29mi	3/2.0	1,104 (+4%)	2mo	$48,000	$43	74
533 Bronson Ave	0.30mi	3/1.0	1,018 (-4%)	6mo	$55,000	$54	74
2743 Elm St	0.05mi	3/1.0	925 (-13%)	3mo	$68,000	$74	73
3118 Elm St	0.36mi	3/1.0	1,140 (+7%)	4mo	$50,000	$44	68
3319 Maple St	0.63mi	3/1.0	1,046 (-2%)	7mo	$65,000	$62	62
40 E Oakland St	0.71mi	3/1.0	1,110 (+4%)	4mo	$53,000	$48	56
125 E Oakland St	0.69mi	2/1.0 (-1)	1,088 (+2%)	4mo	$18,000	$17	55
124 Everett St	0.37mi	2/1.0 (-1)	942 (-11%)	8mo	$47,500	$50	52
241 E Weber St	0.56mi	2/1.0 (-1)	980 (-8%)	4mo	$60,000	$61	52
238 E Pearl St	0.73mi	3/1.0	1,201 (+13%)	7mo	$67,500	$56	38
330 E Lake St	0.75mi	3/2.0	1,211 (+14%)	3mo	$72,000	$59	35

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: 26.4%
• Equity multiple: 2.11×
• Total profit: $18,301
• Equity at exit: $8,797

10-year hold

• IRR: 34.6%
• Equity multiple: 4.31×
• Total profit: $54,700
• Equity at exit: $5,101

Cash invested: $16,520 (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: 4.6×

Monthly cashflow live

• Estimated rent: $1,075 high
• Mortgage (P&I): −$309
• Tax from tax record: −$94 /mo · $1,126/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $422

Break-even live

Break-even rent $541

Max offer price $59,000

Occupancy floor 56%

Sensitivity live

Price	-10% $455	-5% $438	+0% $422	+5% $405	+10% $388
Rent	-10% $337	-5% $379	+0% $422	+5% $464	+10% $507
Rate	-1.0pp $451	-0.5pp $437	base $422	+0.5pp $406	+1.0pp $391

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2621 Chestnut St Toledo, OH	3.0	1.0	1444	$1,250	$0.87	45d	1	0.03mi
420 Everett St Toledo, OH	2.0	1.0	1000	$975	$0.97	25d	1	0.13mi
329 Mettler St Toledo, OH	2.0	1.0	908	$975	$1.07	15d	1	0.14mi
227 Everett St Toledo, OH	2.0	1.0	914	$850	$0.93	45d	1	0.23mi
225 Palmer St Toledo, OH	2.0	1.0	924	$895	$0.97	45d	1	0.24mi
319 Dexter St Toledo, OH	2.0	1.0	990	$1,005	$1.02	45d	1	0.25mi
1337 Moore St Toledo, OH	3.0	1.5	1194	$995	$0.83	22d	1	0.30mi
152 Austin St Toledo, OH	4.0	1.5	1370	$1,150	$0.84	25d	1	0.33mi
516 E Hudson St Toledo, OH	3.0	1.0	1204	$1,098	$0.91	15d	1	0.64mi
524 E Hudson St Toledo, OH	3.0	1.0	1150	$895	$0.78	22d	1	0.64mi
524 E Hudson St Toledo, OH	2.0	1.0	1050	$825	$0.79	45d	1	0.64mi
424 E Lake St Toledo, OH	3.0	1.0	1228	$1,075	$0.88	15d	1	0.75mi
59 E Hudson St Toledo, OH	3.0	1.0	1368	$1,100	$0.80	45d	1	0.78mi
333 E Lake St Toledo, OH	2.0	1.0	800	$495	$0.62	25d	1	0.79mi
710 E Lake St Toledo, OH	3.0	1.0	1242	$1,000	$0.81	15d	1	0.83mi
31 W Oakland St Toledo, OH	4.0	1.0	1188	$1,249	$1.05	25d	1	0.84mi
426 Beacon St Toledo, OH	1.0–2.0	1.0–1.5	809	$882	$1.09	15d	10	0.84mi
1031 N Michigan St Toledo, OH	3.0	2.0	1488	$1,195	$0.80	25d	1	0.86mi
405 E Manhattan Blvd Toledo, OH	2.0	1.0	1000	$900	$0.90	15d	1	0.86mi
830 Homer Ave Toledo, OH	3.0	1.0	1208	$895	$0.74	45d	1	0.88mi
2131 Franklin Ave Toledo, OH	2.0	2.0	1255	$900	$0.72	45d	1	0.92mi
425 Boston Pl Unit A Toledo, OH	2.0	1.0	1200	$895	$0.75	25d	1	1.01mi
630 Mulberry St Toledo, OH	2.0	1.0	1000	$950	$0.95	25d	1	1.02mi
626 Walnut St Toledo, OH	3.0	1.0	1088	$995	$0.91	45d	1	1.10mi
1449 N Huron St Toledo, OH	4.0	2.0	1430	$1,045	$0.73	15d	1	1.10mi
3439 Jeannette Ave Toledo, OH	3.0	1.0	1098	$1,095	$1.00	45d	1	1.13mi
3474 Maher St Toledo, OH	2.0	1.0	736	$1,125	$1.53	45d	1	1.16mi
401 W Bancroft St Toledo, OH	4.0	1.0	927	$865	$0.93	25d	1	1.16mi
3405 Beaumont Dr Toledo, OH	2.0	1.0	855	$745	$0.87	15d	1	1.17mi
409 W Bancroft St Toledo, OH	2.0	1.0	730	$880	$1.21	45d	1	1.18mi
1119 N Summit St Toledo, OH	1.0–2.0	1.0–2.0	1023	$1,750	$1.71	15d	2	1.22mi
1119 N Summit St Toledo, OH	2.0	2.0	1500	$1,890	$1.26	45d	1	1.22mi
1119 N Summit St Toledo, OH	2.0	2.0	1226	$1,750	$1.43	25d	1	1.22mi
2907 Rockwood Pl Toledo, OH	3.0	1.0	1494	$1,100	$0.74	15d	1	1.24mi
610 Cadillac Ct Toledo, OH	3.0	1.0	1409	$1,050	$0.75	25d	1	1.28mi
332 14th St Unit 303 Toledo, OH	3.0	1.5	1040	$1,000	$0.96	45d	1	1.30mi
322 14th St Apt 203 Toledo, OH	3.0	1.5	1065	$1,000	$0.94	15d	1	1.30mi
625 Virginia St Toledo, OH	2.0	1.0	1000	$800	$0.80	45d	1	1.32mi
625 Virginia St Toledo, OH	2.0	1.0	1000	$850	$0.85	15d	1	1.32mi
1951 N Summit St Unit 2 Toledo, OH	2.0	1.0	835	$800	$0.96	45d	1	1.41mi

Listing history 36 events

1. 2026-06-21
   days on market $59,000 Active 30 DOM
2. 2026-06-18
   days on market $59,000 Active 27 DOM
3. 2026-06-17
   days on market $59,000 Active 26 DOM
4. 2026-06-16
   days on market $59,000 Active 25 DOM
5. 2026-06-15
   days on market $59,000 Active 24 DOM
6. 2026-06-14
   days on market $59,000 Active 22 DOM
7. 2026-06-10
   days on market $59,000 Active 19 DOM
8. 2026-06-09
   days on market $59,000 Active 18 DOM
9. 2026-06-08
   days on market $59,000 Active 17 DOM
10. 2026-06-07
    days on market $59,000 Active 16 DOM
11. 2026-06-05
    days on market $59,000 Active 13 DOM
12. 2026-06-03
    days on market $59,000 Active 12 DOM
13. 2026-06-02
    days on market $59,000 Active 11 DOM
14. 2026-06-01
    days on market $59,000 Active 10 DOM
15. 2026-05-31
    days on market $59,000 Active 9 DOM
16. 2026-05-30
    days on market $59,000 Active 8 DOM
17. 2026-05-22
    listed $59,000 Active
18. 2025-10-14
    price $19,000 117-char remark

    Show marketing remark (187 chars)

    Investors! Great turnkey property! Currently rented at $675/mo. Will also consider selling as a package deal with 521 White St, 526 White St, 1675 Nebraska and 1406 Greenwood Ave. Toledo.

19. 2025-10-14
    price $20,000 187-char remark

    Show marketing remark (187 chars)

    Investors! Great turnkey property! Currently rented at $675/mo. Will also consider selling as a package deal with 521 White St, 526 White St, 1675 Nebraska and 1406 Greenwood Ave. Toledo.

20. 2025-10-14
    price $5,500

    Show marketing remark (187 chars)

    Investors! Great turnkey property! Currently rented at $675/mo. Will also consider selling as a package deal with 521 White St, 526 White St, 1675 Nebraska and 1406 Greenwood Ave. Toledo.

21. 2019-02-05
    soldstatus $19,000 117-char remark

    Show marketing remark (117 chars)

    Excellent property with great potential, check it out today! Will be a steady income generating rental or great home!

22. 2019-01-20
    listed $21,000 117-char remark

    Show marketing remark (117 chars)

    Excellent property with great potential, check it out today! Will be a steady income generating rental or great home!

23. 2017-08-25
    soldstatus $20,000 187-char remark

    Show marketing remark (187 chars)

    Investors! Great turnkey property! Currently rented at $675/mo. Will also consider selling as a package deal with 521 White St, 526 White St, 1675 Nebraska and 1406 Greenwood Ave. Toledo.

24. 2017-08-07
    soldstatus $100,000
25. 2017-05-16
    listed $23,000 187-char remark

    Show marketing remark (187 chars)

    Investors! Great turnkey property! Currently rented at $675/mo. Will also consider selling as a package deal with 521 White St, 526 White St, 1675 Nebraska and 1406 Greenwood Ave. Toledo.

26. 2015-08-14
    soldstatus $5,500
27. 2015-07-31
    price $7,000
28. 2015-06-11
    listed $7,000
29. 2008-08-29
    soldstatus $6,500
30. 2008-08-01
    price $6,500
31. 2008-06-02
    listed $6,138
32. 2008-05-18
    historical
33. 2008-02-20
    listed $18,300
34. 2008-02-16
    historical
35. 2007-11-30
    listed $21,090
36. 1992-09-04
    soldstatus $31,900

ⓘ 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: $1,126 · $94/mo
• Projected year-2 tax: $1,126 · $94/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 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: $12,904
• − Mortgage interest: −$3,305
• − Property taxes: −$1,126
• − Insurance: −$295
• − Repairs & maintenance: −$1,032
• − Management: −$1,032
• − Depreciation: −$1,716
• Taxable income: $4,398
• Est. tax owed @ 24.0%: −$1,055
• After-tax cash flow: $4,006/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

+85.0% since first listed

20 events — show timeline

• 2026-05-22 Listed $59,000 NORIS
• 2025-10-14 Price Changed $19,000 NORIS
• 2025-10-14 Price Changed $20,000 NORIS
• 2025-10-14 Price Changed $5,500 NORIS
• 2019-02-05 Sold (MLS) $19,000 NORIS
• 2019-01-20 Listed $21,000 NORIS
• 2017-08-25 Sold (MLS) $20,000 NORIS
• 2017-08-07 Sold (Public Records) $100,000 Public Records
• 2017-05-16 Listed $23,000 NORIS
• 2015-08-14 Sold (MLS) $5,500 NORIS
• 2015-07-31 Price Changed $7,000 NORIS
• 2015-06-11 Listed $7,000 NORIS
• 2008-08-29 Sold (MLS) $6,500 NORIS
• 2008-08-01 Price Changed $6,500 NORIS
• 2008-06-02 Listed $6,138 NORIS
• 2008-05-18 Listing Removed — NORIS
• 2008-02-20 Listed $18,300 NORIS
• 2008-02-16 Listing Removed — NORIS
• 2007-11-30 Listed $21,090 NORIS
• 1992-09-04 Sold (Public Records) $31,900 Public Records

Property tax history

+3.3%/yr

Latest (2025): $1,126 · +3.4% YoY. Source: county tax records.