2425 Caledonia St · Toledo, OH 43605

$89,900

3 bd · 1.0 ba · 1,238 sqft · SingleFamily public records · 14 Days on market

Built 1925 3,600 sqft lot Est $73k · 23% 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 +27.8/30.0
• DSCR +9.8/10.0
• 1% rule +6.5/10.0
• 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

Listing remarks

Move-in ready 3-bedroom home offering 1,238 square feet with beautiful hardwood floors throughout and numerous updates. Features include one full bath and 2 beds on the main floor and a clean freshly painted basement providing additional usable space. Recent improvements include NEW windows and NEW central air, along with a recently improved furnace and hot water tank (2017). Enjoy the fenced backyard and convenient location. A well-maintained home with charm, character, and major mechanical updates already completed.

Key facts

• 3,600 sq ft lot
• 3 parking spots
• Built 1925

Property features AI

Finance

• Other: Lot approximately 0.08 acres (3,600 sq ft); Road frontage on a city street

Exterior

• Parking: On-street parking for 3 vehicles
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Fiber available; WiFi available; Internet available
• Home design: Single-family house; One and one-half levels (2 stories total); No attached units or common walls; Residential zoning (10-RD6)
• Construction: Aluminum siding; Block foundation; Shingle roof; Year built source: public records
• Exterior features: Deck; Front porch; Shed(s); Chain link and wood fencing

Interior

• Kitchen: Gas range
• Bedrooms: Bedroom on upper level (35 x 11); Bedroom on main level (10 x 11); Bedroom on main level (13 x 12)
• Flooring: Hardwood; Linoleum; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Crown molding; Storage in exterior but accessible from interior areas
• Laundry & utility: Laundry area (other)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 10.0% 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: Birmingham Elementary School (math 8% / reading 12%, grade F, #1,471 of 1,584 statewide, top 95%, 299 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); 117 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• This rent runs 32% of the median local income ($39k/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 $622 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 $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,900

Questions for the listing agent

1. Built in 1925 — 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: 1.15% ✓
• Cap rate: 9.97%
• Cash-on-cash: 13.12%
• DSCR: 1.58
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $73,042
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2232 Caledonia St	0.24mi	3/1.0	1,273 (+3%)	11mo	$75,000	$59	75
2137 Valentine St	0.36mi	3/1.0	1,272 (+3%)	6mo	$47,500	$37	74
2418 Valentine St	0.04mi	3/1.0	1,339 (+8%)	14mo	$79,500	$59	73
2315 Caledonia St	0.14mi	3/1.0	1,370 (+11%)	4mo	$12,000	$9	72
2617 York St	0.22mi	3/1.0	1,154 (-7%)	9mo	$78,000	$68	71
2550 York St	0.10mi	3/1.0	1,398 (+13%)	6mo	$113,700	$81	69
2125 Valentine St	0.38mi	3/1.0	1,265 (+2%)	12mo	$59,000	$47	69
2220 Genesee St	0.30mi	3/2.0	1,362 (+10%)	6mo	$80,000	$59	60
310 Whittemore St	0.45mi	3/3.0	1,296 (+5%)	4mo	$79,800	$62	60
2023 Woodford St	0.49mi	2/1.0 (-1)	1,152 (-7%)	3mo	$26,000	$23	58
266 Milford St	0.66mi	3/1.0	1,060 (-14%)	6mo	$120,000	$113	40
2002 Bakewell St	0.54mi	3/1.0	1,414 (+14%)	14mo	$42,500	$30	40

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: 5.5%
• Equity multiple: 1.22×
• Total profit: $5,458
• Equity at exit: $13,404

10-year hold

• IRR: 16.7%
• Equity multiple: 2.51×
• Total profit: $38,091
• Equity at exit: $7,773

Cash invested: $25,172 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,037 high
• Mortgage (P&I): −$471
• Tax from tax record: −$35 /mo · $418/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $275

Break-even live

Break-even rent $688

Max offer price $89,900

Occupancy floor 68%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2453 Caledonia St Toledo, OH	2.0	1.0	1179	$810	$0.69	14d	1	0.06mi
622 Whitlock Ave Toledo, OH	3.0	1.0	925	$1,195	$1.29	43d	1	0.30mi
1964 Burr St Toledo, OH	3.0	1.0	1159	$1,250	$1.08	43d	1	0.73mi
1848 Genesee St Toledo, OH	3.0	1.0	1069	$1,200	$1.12	43d	1	0.73mi
1848 Genesee St Toledo, OH	3.0	1.0	1069	$1,300	$1.22	23d	1	0.73mi
1951 N Summit St Unit 2 Toledo, OH	2.0	1.0	835	$800	$0.96	43d	1	0.95mi
413 Sandusky St Toledo, OH	2.0	1.0	900	$775	$0.86	23d	1	0.97mi
3148 Corduroy Rd Oregon, OH	1.0–2.0	1.0–1.5	800	$870	$1.09	14d	1	1.02mi
2932 N Ontario St Toledo, OH	2.0	1.0	750	$750	$1.00	23d	1	1.16mi
128 Carbon St Toledo, OH	3.0	1.0	1113	$1,200	$1.08	23d	1	1.37mi
221 Licking St Unit 2 Toledo, OH	3.0	1.0	1048	$1,099	$1.05	23d	1	1.44mi

Listing history 16 events

1. 2026-06-18
   days on market $89,900 Active 14 DOM
2. 2026-06-17
   days on market $89,900 Active 13 DOM
3. 2026-06-16
   days on market $89,900 Active 12 DOM
4. 2026-06-15
   days on market $89,900 Active 11 DOM
5. 2026-06-14
   days on market $89,900 Active 9 DOM
6. 2026-06-10
   days on market $89,900 Active 6 DOM
7. 2026-06-09
   days on market $89,900 Active 5 DOM
8. 2026-06-08
   days on market $89,900 Active 4 DOM
9. 2026-06-07
   days on market $89,900 Active 3 DOM
10. 2026-06-05
    statusdays on market $89,900 Active 1 DOM
11. 2026-06-03
    days on market $89,900 Coming Soon 8 DOM
12. 2026-06-02
    days on market $89,900 Coming Soon 7 DOM
13. 2026-06-01
    days on market $89,900 Coming Soon 6 DOM
14. 2026-05-31
    days on market $89,900 Coming Soon 5 DOM
15. 2026-05-30
    days on market $89,900 Coming Soon 4 DOM
16. 2026-05-26
    historical $89,900

ⓘ 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: $418 · $35/mo
• Projected year-2 tax: $910 · $76/mo
• Expected delta: +$492/yr (+$41/mo · 117.9%)

ⓘ 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: $12,439
• − Mortgage interest: −$5,036
• − Property taxes: −$418
• − Insurance: −$450
• − Repairs & maintenance: −$995
• − Management: −$995
• − Depreciation: −$2,615
• Taxable income: $1,931
• Est. tax owed @ 24.0%: −$463
• After-tax cash flow: $2,839/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

1 event — show timeline

• 2026-05-26 Coming Soon $89,900 NORIS

Property tax history

+3.5%/yr

Latest (2025): $418 · -0.3% YoY. Source: county tax records.