2040 Joffre Ave · Toledo, OH 43607

$75,000

4 bd · 1.0 ba · 1,608 sqft · SingleFamily public records · 148 Days on market

Built 1922 4,400 sqft lot $47/sqft · 12% above area Est $67k · 12% 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 +4.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• ARV discount +2.1/15.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The purchase price has been reduced to reflect conditions revealed during buyer's inspections. Seller shall make no repairs, corrections, replacements, or additional price reductions as a result of any further inspection findings. Any inspections conducted by Buyer shall be for Buyers information only. Great opportunity to add a cash flowing rental to your portfolio. This 4 bedroom, 1.5 bath home offers an updated kitchen and an updated half bath with plenty of space for comfortable living. The property is currently occupied by a long-term tenant paying $1,000 per month in rent plus water, with a lease in place through 9/2026. Same tenant for approximately 10 years and they would like to stay. Interior photos are intentionally not provided in order to respect the tenant's privacy and safety. Perfect for a first-time investor or a seasoned landlord looking for stable income on day one.

Key facts

• 4,400 sq ft lot
• 2 parking spots
• Built 1922

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $567 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.4% 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 (+8.2%/yr); 83 active listings in the ZIP; 12 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 40% of the median local income ($41k/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 $519 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 + 8.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y ago; this cycle's ask has dropped $10k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $49k; list at $75k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 148 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1922 — 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: 1.83% ✓
• Cap rate: 15.37%
• Cash-on-cash: 32.41%
• DSCR: 2.44
• GRM: 4.6

CMA / ARV

• ARV (median comp): $66,940
• List price: $75,000
• Delta: 12.04%
• 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
1844 Freeman St	0.25mi	3/1.5 (-1)	1,630 (+1%)	1mo	$40,000	$25	78
2114 Parkdale Ave	0.08mi	3/1.0 (-1)	1,737 (+8%)	2mo	$125,000	$72	76
2144 Hawthorne St	0.32mi	3/1.0 (-1)	1,564 (-3%)	3mo	$40,000	$26	73
2053 Calumet Ave	0.03mi	3/1.0 (-1)	1,840 (+14%)	5mo	$55,000	$30	65
1264 Fernwood Ave	0.72mi	4/1.0	1,614 (+0%)	2mo	$125,000	$77	64
1513 Waverly Ave	0.49mi	3/1.5 (-1)	1,578 (-2%)	7mo	$123,400	$78	62
1938 Fernwood Ave	0.48mi	3/1.0 (-1)	1,502 (-7%)	3mo	$95,900	$64	60
1131 Montrose Ave	0.66mi	3/1.0 (-1)	1,642 (+2%)	7mo	$35,000	$21	55
2272 Rosedale Ave	0.36mi	3/1.5 (-1)	1,436 (-11%)	6mo	$92,500	$64	53
1424 Addington Rd	0.56mi	3/1.5 (-1)	1,726 (+7%)	3mo	$153,198	$89	52
1308 Grand Ave	0.65mi	4/1.5	1,468 (-9%)	6mo	$27,500	$19	48
1116 Woodstock Ave	0.75mi	3/2.0 (-1)	1,694 (+5%)	4mo	$72,000	$43	44

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 33.0%
• Equity multiple: 2.49×
• Total profit: $31,221
• Equity at exit: $11,183

10-year hold

• IRR: 42.6%
• Equity multiple: 6.08×
• Total profit: $106,707
• Equity at exit: $6,485

Cash invested: $21,000 (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 43607

• Home prices YoY: -27.5%
• Rents YoY: 8.2%
• Active inventory: 83
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,369 high
• Mortgage (P&I): −$393
• Tax from tax record: −$90 /mo · $1,081/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $567

Break-even live

Break-even rent $651

Max offer price $75,000

Occupancy floor 54%

Sensitivity live

Price	-10% $610	-5% $588	+0% $567	+5% $546	+10% $525
Rent	-10% $459	-5% $513	+0% $567	+5% $621	+10% $675
Rate	-1.0pp $605	-0.5pp $586	base $567	+0.5pp $548	+1.0pp $528

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2117 Clinton St Toledo, OH	3.0	1.0	1256	$1,115	$0.89	44d	1	0.12mi
1420 Addington Rd Toledo, OH	5.0	1.5	1728	$1,500	$0.87	44d	1	0.56mi
915 Woodstock Ave Toledo, OH	3.0	1.5	1500	$1,100	$0.73	24d	1	0.86mi
2037 Alvin St Toledo, OH	3.0	1.0	1260	$1,175	$0.93	44d	1	0.86mi
1436 Palmetto Ave Toledo, OH	3.0	1.0	1678	$1,400	$0.83	24d	1	0.89mi
1140 Palmwood Ave Toledo, OH	3.0	1.0	1292	$1,500	$1.16	44d	1	0.91mi
2632 Algonquin Pkwy Toledo, OH	3.0	1.5	1568	$800	$0.51	24d	1	1.02mi
1122 Pinewood Ave Toledo, OH	3.0	1.0	1559	$1,150	$0.74	14d	1	1.04mi
1573 Jermain Dr Toledo, OH	3.0	1.0	1254	$1,195	$0.95	14d	1	1.11mi
960 W Delaware Ave Toledo, OH	3.0	1.0	1224	$1,050	$0.86	24d	1	1.20mi
319 N Detroit Ave Toledo, OH	3.0	1.0	1341	$845	$0.63	44d	1	1.21mi
1718 Giant St Toledo, OH	3.0	1.0	1080	$1,395	$1.29	14d	1	1.29mi

Listing history 16 events

1. 2026-05-07
   status Pending 898-char remark

   Show marketing remark (898 chars)

   The purchase price has been reduced to reflect conditions revealed during buyer's inspections. Seller shall make no repairs, corrections, replacements, or additional price reductions as a result of any further inspection findings. Any inspections conducted by Buyer shall be for Buyers information only. Great opportunity to add a cash flowing rental to your portfolio. This 4 bedroom, 1.5 bath home offers an updated kitchen and an updated half bath with plenty of space for comfortable living. The property is currently occupied by a long-term tenant paying $1,000 per month in rent plus water, with a lease in place through 9/2026. Same tenant for approximately 10 years and they would like to stay. Interior photos are intentionally not provided in order to respect the tenant's privacy and safety. Perfect for a first-time investor or a seasoned landlord looking for stable income on day one.

2. 2026-04-19
   price $75,000 898-char remark

   Show marketing remark (898 chars)

   The purchase price has been reduced to reflect conditions revealed during buyer's inspections. Seller shall make no repairs, corrections, replacements, or additional price reductions as a result of any further inspection findings. Any inspections conducted by Buyer shall be for Buyers information only. Great opportunity to add a cash flowing rental to your portfolio. This 4 bedroom, 1.5 bath home offers an updated kitchen and an updated half bath with plenty of space for comfortable living. The property is currently occupied by a long-term tenant paying $1,000 per month in rent plus water, with a lease in place through 9/2026. Same tenant for approximately 10 years and they would like to stay. Interior photos are intentionally not provided in order to respect the tenant's privacy and safety. Perfect for a first-time investor or a seasoned landlord looking for stable income on day one.

3. 2026-02-15
   status Active 898-char remark

   Show marketing remark (898 chars)

   The purchase price has been reduced to reflect conditions revealed during buyer's inspections. Seller shall make no repairs, corrections, replacements, or additional price reductions as a result of any further inspection findings. Any inspections conducted by Buyer shall be for Buyers information only. Great opportunity to add a cash flowing rental to your portfolio. This 4 bedroom, 1.5 bath home offers an updated kitchen and an updated half bath with plenty of space for comfortable living. The property is currently occupied by a long-term tenant paying $1,000 per month in rent plus water, with a lease in place through 9/2026. Same tenant for approximately 10 years and they would like to stay. Interior photos are intentionally not provided in order to respect the tenant's privacy and safety. Perfect for a first-time investor or a seasoned landlord looking for stable income on day one.

4. 2026-01-25
   status Pending 898-char remark

   Show marketing remark (898 chars)

   The purchase price has been reduced to reflect conditions revealed during buyer's inspections. Seller shall make no repairs, corrections, replacements, or additional price reductions as a result of any further inspection findings. Any inspections conducted by Buyer shall be for Buyers information only. Great opportunity to add a cash flowing rental to your portfolio. This 4 bedroom, 1.5 bath home offers an updated kitchen and an updated half bath with plenty of space for comfortable living. The property is currently occupied by a long-term tenant paying $1,000 per month in rent plus water, with a lease in place through 9/2026. Same tenant for approximately 10 years and they would like to stay. Interior photos are intentionally not provided in order to respect the tenant's privacy and safety. Perfect for a first-time investor or a seasoned landlord looking for stable income on day one.

5. 2026-01-17
   status Active 898-char remark

   Show marketing remark (898 chars)

   The purchase price has been reduced to reflect conditions revealed during buyer's inspections. Seller shall make no repairs, corrections, replacements, or additional price reductions as a result of any further inspection findings. Any inspections conducted by Buyer shall be for Buyers information only. Great opportunity to add a cash flowing rental to your portfolio. This 4 bedroom, 1.5 bath home offers an updated kitchen and an updated half bath with plenty of space for comfortable living. The property is currently occupied by a long-term tenant paying $1,000 per month in rent plus water, with a lease in place through 9/2026. Same tenant for approximately 10 years and they would like to stay. Interior photos are intentionally not provided in order to respect the tenant's privacy and safety. Perfect for a first-time investor or a seasoned landlord looking for stable income on day one.

6. 2026-01-07
   historical Contingent 898-char remark

   Show marketing remark (898 chars)

   The purchase price has been reduced to reflect conditions revealed during buyer's inspections. Seller shall make no repairs, corrections, replacements, or additional price reductions as a result of any further inspection findings. Any inspections conducted by Buyer shall be for Buyers information only. Great opportunity to add a cash flowing rental to your portfolio. This 4 bedroom, 1.5 bath home offers an updated kitchen and an updated half bath with plenty of space for comfortable living. The property is currently occupied by a long-term tenant paying $1,000 per month in rent plus water, with a lease in place through 9/2026. Same tenant for approximately 10 years and they would like to stay. Interior photos are intentionally not provided in order to respect the tenant's privacy and safety. Perfect for a first-time investor or a seasoned landlord looking for stable income on day one.

7. 2025-11-14
   listed $85,000 Active 898-char remark

   Show marketing remark (898 chars)

   The purchase price has been reduced to reflect conditions revealed during buyer's inspections. Seller shall make no repairs, corrections, replacements, or additional price reductions as a result of any further inspection findings. Any inspections conducted by Buyer shall be for Buyers information only. Great opportunity to add a cash flowing rental to your portfolio. This 4 bedroom, 1.5 bath home offers an updated kitchen and an updated half bath with plenty of space for comfortable living. The property is currently occupied by a long-term tenant paying $1,000 per month in rent plus water, with a lease in place through 9/2026. Same tenant for approximately 10 years and they would like to stay. Interior photos are intentionally not provided in order to respect the tenant's privacy and safety. Perfect for a first-time investor or a seasoned landlord looking for stable income on day one.

8. 2025-10-14
   price $49,000 322-char remark

   Show marketing remark (322 chars)

   West Toledo location! This well maintained home has decorative fireplace, hardwood flooring and carpet throughout. Located near access to the freeway, University of Toledo, Toledo Hospital, Ottawa Park and Downtown Toledo. Long term tenants have occupied the home for over 6 years. Great rental income or a place to live.

9. 2021-09-07
   soldstatus $49,000
10. 2021-09-02
    historical 322-char remark

    Show marketing remark (322 chars)

    West Toledo location! This well maintained home has decorative fireplace, hardwood flooring and carpet throughout. Located near access to the freeway, University of Toledo, Toledo Hospital, Ottawa Park and Downtown Toledo. Long term tenants have occupied the home for over 6 years. Great rental income or a place to live.

11. 2021-09-01
    soldstatus $49,000 Closed 322-char remark

    Show marketing remark (322 chars)

    West Toledo location! This well maintained home has decorative fireplace, hardwood flooring and carpet throughout. Located near access to the freeway, University of Toledo, Toledo Hospital, Ottawa Park and Downtown Toledo. Long term tenants have occupied the home for over 6 years. Great rental income or a place to live.

12. 2021-08-30
    status Pending 322-char remark

    Show marketing remark (322 chars)

    West Toledo location! This well maintained home has decorative fireplace, hardwood flooring and carpet throughout. Located near access to the freeway, University of Toledo, Toledo Hospital, Ottawa Park and Downtown Toledo. Long term tenants have occupied the home for over 6 years. Great rental income or a place to live.

13. 2021-08-23
    historical Contingent 322-char remark

    Show marketing remark (322 chars)

    West Toledo location! This well maintained home has decorative fireplace, hardwood flooring and carpet throughout. Located near access to the freeway, University of Toledo, Toledo Hospital, Ottawa Park and Downtown Toledo. Long term tenants have occupied the home for over 6 years. Great rental income or a place to live.

14. 2021-08-13
    status Active 322-char remark

    Show marketing remark (322 chars)

    West Toledo location! This well maintained home has decorative fireplace, hardwood flooring and carpet throughout. Located near access to the freeway, University of Toledo, Toledo Hospital, Ottawa Park and Downtown Toledo. Long term tenants have occupied the home for over 6 years. Great rental income or a place to live.

15. 2021-08-06
    historical Contingent 322-char remark

    Show marketing remark (322 chars)

    West Toledo location! This well maintained home has decorative fireplace, hardwood flooring and carpet throughout. Located near access to the freeway, University of Toledo, Toledo Hospital, Ottawa Park and Downtown Toledo. Long term tenants have occupied the home for over 6 years. Great rental income or a place to live.

16. 2021-07-30
    listed $59,900 Active 322-char remark

    Show marketing remark (322 chars)

    West Toledo location! This well maintained home has decorative fireplace, hardwood flooring and carpet throughout. Located near access to the freeway, University of Toledo, Toledo Hospital, Ottawa Park and Downtown Toledo. Long term tenants have occupied the home for over 6 years. Great rental income or a place to live.

ⓘ 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: $1,081 · $90/mo
• Projected year-2 tax: $1,126 · $94/mo
• Expected delta: +$44/yr (+$4/mo · 4.1%)

ⓘ 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: $16,432
• − Mortgage interest: −$4,201
• − Property taxes: −$1,081
• − Insurance: −$375
• − Repairs & maintenance: −$1,315
• − Management: −$1,315
• − Depreciation: −$2,182
• Taxable income: $5,964
• Est. tax owed @ 24.0%: −$1,431
• After-tax cash flow: $5,374/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): 19,469
• Household income: $41,335
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 1157.0

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 0.57)
• Race & ethnicity: Black 59% White 27% Two or more races 6% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Other Indo-European 1% Spanish 1% Russian/Polish/Slavic 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: ▼ -66.58%
• Current HPI: 175.2772
• Rent YoY: ▲ 8.19%
• 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

+25.2% since first listed

16 events — show timeline

• 2026-05-07 Pending — NORIS
• 2026-04-19 Price Changed $75,000 NORIS
• 2026-02-15 Relisted — NORIS
• 2026-01-25 Pending — NORIS
• 2026-01-17 Relisted — NORIS
• 2026-01-07 Contingent — NORIS
• 2025-11-14 Listed $85,000 NORIS
• 2025-10-14 Price Changed $49,000 NORIS
• 2021-09-07 Sold (Public Records) $49,000 Public Records
• 2021-09-02 Listing Removed — NORIS
• 2021-09-01 Sold (MLS) $49,000 NORIS
• 2021-08-30 Pending — NORIS
• 2021-08-23 Contingent — NORIS
• 2021-08-13 Relisted — NORIS
• 2021-08-06 Contingent — NORIS
• 2021-07-30 Listed $59,900 NORIS

Property tax history

+4.2%/yr

Latest (2025): $1,081 · +1.1% YoY. Source: county tax records.