702 Indiana Ave · Toledo, OH 43604

$59,900

2 bd · 1.0 ba · 788 sqft · SingleFamily public records · 54 Days on market

Built 1887 6,300 sqft lot $76/sqft · 67% above area

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

Listing remarks MLS

LOOKING TO ADD TO YOUR PORTFOLIO? This home is near completion and near ready to occupy. Much of the renovation is finished. Windows and roof are about 10 years old. This property comes with an additional lot. This is a darling little bungalow. The home comes with newer hot water tank and furnace. The crawl space is deep and entered inside the home with steps.

Key facts

• Major mechanicals
• Completely updated
• 6,300 sq ft lot

Tags

• TURNKEY INVESTMENT OPPORTUNITY
• COMPLETELY UPDATED
• MAJOR MECHANICALS
• IMMEDIATE INCOME POTENTIAL

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Cable available; Electricity connected; Natural gas connected; Public water; Water connected; Internet available; Public sewer
• Home design: Single family residence; Residential property; One story
• Construction: Vinyl siding; Crawl space foundation; Built as a one-story structure
• Exterior features: Shingle roof

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: All bedrooms on the main level
• Flooring: Carpet; Plank; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; Has heating
• Interior features: 5 total rooms; Other interior features; Storage
• Laundry & utility: Accessible utilities/laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $540 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% 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-, 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: Pickett Elementary School (math 8% / reading 2%, grade F, #1,554 of 1,584 statewide, top 100%, 274 students, 0% FRL); Jesup W. Scott High School (math 8% / reading 17%, grade F, #726 of 781 statewide, top 94%, 736 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: 16 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% 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).
• At $1,195/mo this rent would consume 69% of the median local household income ($21k/yr) (locally 693% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $2k of equity ($414 loan paydown + $1k appreciation (2.4% local appreciation)).
• Lucas County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.4% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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 $30k; list at $60k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1887 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1887 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.99% ✓
• Cap rate: 17.10%
• Cash-on-cash: 38.60%
• DSCR: 2.72
• GRM: 4.2

CMA / ARV

• ARV (median comp): $35,852
• List price: $59,900
• Delta: 67.07%
• Verdict: OVERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

2.35% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 43.2%
• Equity multiple: 3.36×
• Total profit: $39,559
• Equity at exit: $24,773

10-year hold

• IRR: 43.7%
• Equity multiple: 6.68×
• Total profit: $95,289
• Equity at exit: $36,576

Cash invested: $16,772 (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 43604

• Home prices YoY: 2.1%
• Active inventory: 16
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,195 high
• Mortgage (P&I): −$314
• Tax from tax record: −$65 /mo · $782/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $540

Break-even live

Break-even rent $512

Max offer price $59,900

Occupancy floor 50%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 Nebraska Ave Toledo, OH	1.0	1.0	664	$1,129	$1.70	14d	1	0.54mi
1026 Oakwood Ave Toledo, OH	2.0	1.0	1100	$850	$0.77	44d	1	0.55mi
1825 Collingwood Blvd Toledo, OH	1.0	1.0	710	$850	$1.20	14d	1	0.55mi
142 23rd St Toledo, OH	1.0	1.0–1.5	508	$1,395	$2.75	44d	1	0.59mi
2115 Collingwood Blvd Toledo, OH	2.0	1.0	676	$765	$1.13	23d	1	0.83mi
34 S Erie St Unit 209 Toledo, OH	1.0	1.0	930	$1,375	$1.48	23d	1	0.92mi
15 S Ontario St Apt 409 Toledo, OH	1.0	1.0	984	$1,695	$1.72	44d	1	0.93mi
425 W Bancroft St Toledo, OH	1.0	1.0	711	$725	$1.02	44d	1	0.94mi
322 14th St Apt 203 Toledo, OH	3.0	1.5	1065	$1,000	$0.94	14d	1	0.94mi
34 S Erie St Unit 107 Toledo, OH	1.0	1.0	1103	$1,300	$1.18	23d	1	0.94mi
34 S Erie St Unit 202 Toledo, OH	1.0	1.0	894	$1,275	$1.43	23d	1	0.94mi
34 S Erie St Unit 409 Toledo, OH	1.0	1.0	930	$1,375	$1.48	44d	1	0.94mi
34 S Erie St Apt 602 Toledo, OH	1.0	1.0	894	$1,315	$1.47	44d	1	0.94mi
34 S Erie St Unit 611 Toledo, OH	1.0	1.0	990	$1,300	$1.31	44d	1	0.94mi
409 W Bancroft St Toledo, OH	2.0	1.0	730	$880	$1.21	44d	1	0.95mi
332 14th St Unit 303 Toledo, OH	3.0	1.5	1040	$1,000	$0.96	44d	1	0.95mi
223 Charles St Toledo, OH	2.0	1.0	612	$875	$1.43	44d	1	1.00mi
1 S Erie St Toledo, OH	1.0	1.0	846	$1,410	$1.67	14d	1	1.00mi
625 Virginia St Toledo, OH	2.0	1.0	1000	$800	$0.80	44d	1	1.04mi
625 Virginia St Toledo, OH	2.0	1.0	1000	$850	$0.85	14d	1	1.04mi
23 N Summit St Toledo, OH	1.0	1.0	838	$1,475	$1.76	14d	2	1.22mi
513 Adams St Toledo, OH	1.0–2.0	1.0	1175	$1,424	$1.21	14d	11	1.27mi
200 N St Clair St Toledo, OH	2.0	1.0–2.0	835	$2,550	$3.05	14d	15	1.28mi
426 Beacon St Toledo, OH	1.0–2.0	1.0–1.5	809	$882	$1.09	14d	10	1.30mi
123 Water St Unit 411 Toledo, OH	1.0	1.0	747	$1,380	$1.85	23d	1	1.30mi
123 Water St Unit 307 Toledo, OH	1.0	1.0	914	$1,445	$1.58	44d	1	1.30mi
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	44d	1	1.38mi
416 Maumee Ave Unit D Toledo, OH	1.0	1.0	622	$475	$0.76	44d	1	1.41mi
1785 Tecumseh St Toledo, OH	2.0	1.0	930	$900	$0.97	44d	1	1.44mi
827 Colburn St Toledo, OH	2.0	1.0	1092	$750	$0.69	44d	1	1.48mi

Listing history 29 events

1. 2026-06-18
   days on market $59,900 Active 54 DOM
2. 2026-06-17
   days on market $59,900 Active 53 DOM
3. 2026-06-16
   days on market $59,900 Active 52 DOM
4. 2026-06-15
   days on market $59,900 Active 51 DOM
5. 2026-06-14
   days on market $59,900 Active 49 DOM
6. 2026-06-10
   days on market $59,900 Active 46 DOM
7. 2026-06-09
   days on market $59,900 Active 45 DOM
8. 2026-06-08
   days on market $59,900 Active 44 DOM
9. 2026-06-07
   days on market $59,900 Active 43 DOM
10. 2026-06-05
    days on market $59,900 Active 40 DOM
11. 2026-06-03
    days on market $59,900 Active 39 DOM
12. 2026-06-02
    days on market $59,900 Active 38 DOM
13. 2026-06-01
    days on market $59,900 Active 37 DOM
14. 2026-05-31
    days on market $59,900 Active 36 DOM
15. 2026-05-30
    days on market $59,900 Active 35 DOM
16. 2026-04-25
    listed $59,900 Active 343-char remark
17. 2025-10-14
    price $30,000 362-char remark

    Show marketing remark (317 chars)

    Great location for this little gem. Needs some tlc. Newer Windows. Newer Roof. Comes with additional lot! Tons of potential close to lots of amenities. Would be great for first time home buyer or investment opportunity. Can be sold as a package deal with 670 &672 Indiana Ave (duplex) and 668 Indiana Ave (duplex)

18. 2025-10-14
    price $30,000

    Show marketing remark (317 chars)

    Great location for this little gem. Needs some tlc. Newer Windows. Newer Roof. Comes with additional lot! Tons of potential close to lots of amenities. Would be great for first time home buyer or investment opportunity. Can be sold as a package deal with 670 &672 Indiana Ave (duplex) and 668 Indiana Ave (duplex)

19. 2024-12-26
    soldstatus $30,000
20. 2024-11-26
    soldstatus $30,000 Closed 362-char remark

    Show marketing remark (362 chars)

    LOOKING TO ADD TO YOUR PORTFOLIO? This home is near completion and near ready to occupy. Much of the renovation is finished. Windows and roof are about 10 years old. This property comes with an additional lot. This is a darling little bungalow. The home comes with newer hot water tank and furnace. The crawl space is deep and entered inside the home with steps.

21. 2024-10-21
    status Pending 362-char remark

    Show marketing remark (362 chars)

    LOOKING TO ADD TO YOUR PORTFOLIO? This home is near completion and near ready to occupy. Much of the renovation is finished. Windows and roof are about 10 years old. This property comes with an additional lot. This is a darling little bungalow. The home comes with newer hot water tank and furnace. The crawl space is deep and entered inside the home with steps.

22. 2024-10-04
    price $34,900 362-char remark

    Show marketing remark (362 chars)

    LOOKING TO ADD TO YOUR PORTFOLIO? This home is near completion and near ready to occupy. Much of the renovation is finished. Windows and roof are about 10 years old. This property comes with an additional lot. This is a darling little bungalow. The home comes with newer hot water tank and furnace. The crawl space is deep and entered inside the home with steps.

23. 2024-09-07
    status Active 362-char remark

    Show marketing remark (362 chars)

    LOOKING TO ADD TO YOUR PORTFOLIO? This home is near completion and near ready to occupy. Much of the renovation is finished. Windows and roof are about 10 years old. This property comes with an additional lot. This is a darling little bungalow. The home comes with newer hot water tank and furnace. The crawl space is deep and entered inside the home with steps.

24. 2024-08-23
    status Pending 362-char remark

    Show marketing remark (362 chars)

    LOOKING TO ADD TO YOUR PORTFOLIO? This home is near completion and near ready to occupy. Much of the renovation is finished. Windows and roof are about 10 years old. This property comes with an additional lot. This is a darling little bungalow. The home comes with newer hot water tank and furnace. The crawl space is deep and entered inside the home with steps.

25. 2024-08-13
    listed $39,900 Active 362-char remark

    Show marketing remark (362 chars)

    LOOKING TO ADD TO YOUR PORTFOLIO? This home is near completion and near ready to occupy. Much of the renovation is finished. Windows and roof are about 10 years old. This property comes with an additional lot. This is a darling little bungalow. The home comes with newer hot water tank and furnace. The crawl space is deep and entered inside the home with steps.

26. 2022-04-17
    price $819
27. 2021-06-17
    soldstatus $30,000

    Show marketing remark (317 chars)

    Great location for this little gem. Needs some tlc. Newer Windows. Newer Roof. Comes with additional lot! Tons of potential close to lots of amenities. Would be great for first time home buyer or investment opportunity. Can be sold as a package deal with 670 &672 Indiana Ave (duplex) and 668 Indiana Ave (duplex)

28. 2021-01-20
    listed $35,000

    Show marketing remark (317 chars)

    Great location for this little gem. Needs some tlc. Newer Windows. Newer Roof. Comes with additional lot! Tons of potential close to lots of amenities. Would be great for first time home buyer or investment opportunity. Can be sold as a package deal with 670 &672 Indiana Ave (duplex) and 668 Indiana Ave (duplex)

29. 2002-01-31
    soldstatus $36,000

ⓘ 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: $782 · $65/mo
• Projected year-2 tax: $858 · $72/mo
• Expected delta: +$76/yr (+$6/mo · 9.7%)

ⓘ 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: $14,336
• − Mortgage interest: −$3,355
• − Property taxes: −$782
• − Insurance: −$300
• − Repairs & maintenance: −$1,147
• − Management: −$1,147
• − Depreciation: −$1,743
• Taxable income: $5,863
• Est. tax owed @ 24.0%: −$1,407
• After-tax cash flow: $5,067/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): 9,594
• Household income: $20,734
• Rent vs Own: 80.5% rent · 19.5% own
• Severe rent burden: 693.0

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: Black 51% White 34% Two or more races 9% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 4% · Canada, South Korea, China
• Languages at home: 95% English-only · Spanish 3% 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: ▲ 2.35%
• Current HPI: 111.6154
• Rent YoY: —
• 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

+66.4% since first listed

14 events — show timeline

• 2026-04-25 Listed $59,900 NORIS
• 2025-10-14 Price Changed $30,000 NORIS
• 2025-10-14 Price Changed $30,000 NORIS
• 2024-12-26 Sold (Public Records) $30,000 Public Records
• 2024-11-26 Sold (MLS) $30,000 NORIS
• 2024-10-21 Pending — NORIS
• 2024-10-04 Price Changed $34,900 NORIS
• 2024-09-07 Relisted — NORIS
• 2024-08-23 Pending — NORIS
• 2024-08-13 Listed $39,900 NORIS
• 2022-04-17 Price Changed $819 RENT.
• 2021-06-17 Sold (MLS) $30,000 NORIS
• 2021-01-20 Listed $35,000 NORIS
• 2002-01-31 Sold (Public Records) $36,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $782 · +7.4% YoY. Source: county tax records.