124 Yale Dr · Toledo, OH 43614

$199,900

4 bd · 2.0 ba · 2,584 sqft · MultiFamily public records · 23 Days on market

Built 1923 7,500 sqft lot Est $222k · 10% under

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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 +26.6/30.0
• ARV discount +12.0/15.0
• DSCR +9.1/10.0
• 1% rule +7.0/10.0
• Rent growth +4.5/5.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Very nice size apartments in this great neighborhood close to the park & Zoo. Both have hardwood floors, basement hookup for laundry and front porch area. Off street parking. Start collecting rent or Live in one rent the other you will love it. Please no showings before 11:00 am

Key facts

• 7,500 sq ft lot
• Built 1923
• Listed 23 days

Property features AI

Finance

• Other: Property used as residential income
• Financial info: Two-unit building (both units leased); Tenant pays electricity, gas, and internet; Owner pays exterior maintenance, HVAC maintenance, repairs, roof maintenance, sewer, trash collection, water, insurance, taxes, and lawn care
• HOA & community: No HOA information provided

Exterior

• Parking: Concrete driveway; On-street parking
• Security: No security features listed
• Utilities: Electricity connected; Public water; Public sewer (sanitary); Internet connected
• Home design: Residential income property (duplex); Two-story; Two total stories
• Construction: Vinyl siding; Block foundation; Block basement; Shingle roof; Built as a duplex
• Exterior features: Front porch; Landscaped lot; River frontage

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Contains multiple bedrooms (details not provided)
• Flooring: Wood flooring
• Bathrooms: Bathroom information not provided
• Heating & cooling: Forced air heating; Heating present
• Interior features: Entrance foyer; Walk-in closets; French doors; Living room fireplace (one of two)
• Laundry & utility: Washer and dryer included; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $536 ($6k/yr) — positive. Per door: $268/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 7.6% in Toledo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Harvard Elementary School (math 17% / reading 27%, grade F, #1,242 of 1,584 statewide, top 80%, 311 students, 0% FRL); Bowsher High School (math 23% / reading 45%, grade F, #596 of 781 statewide, top 76%, 1,240 students, 49% FRL) — zoned schools average 25% FRL vs 72% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+8.0%/yr); 71 active listings in the ZIP; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• At $2,401/mo this rent would consume 49% of the median local household income ($59k/yr) (locally 1407% 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 $1k of loan paydown is wiped out by about $6k 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 $56k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y 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 $138k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $196,901 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.20% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.48%
• DSCR: 1.51
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $222,224
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1439 Vassar Dr	0.25mi	4/2.0	2,444 (-5%)	7mo	$210,000	$86	74

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: 6.3%
• Equity multiple: 1.26×
• Total profit: $14,437
• Equity at exit: $29,806

10-year hold

• IRR: 19.7%
• Equity multiple: 3.04×
• Total profit: $114,350
• Equity at exit: $17,284

Cash invested: $55,972 (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 43614

• Home prices YoY: -22.4%
• Rents YoY: 8.0%
• Active inventory: 71
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $2,401 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$230 /mo · $2,754/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $536

Break-even live

Break-even rent $1,723

Max offer price $199,900

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,402
Total (2 units)			$2,401

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-15
   statusdays on market $199,900 Pending 23 DOM
2. 2026-06-14
   days on market $199,900 Contingent 22 DOM
3. 2026-06-10
   days on market $199,900 Contingent 19 DOM
4. 2026-06-09
   days on market $199,900 Contingent 18 DOM
5. 2026-06-08
   days on market $199,900 Contingent 17 DOM
6. 2026-06-07
   days on market $199,900 Contingent 16 DOM
7. 2026-06-05
   days on market $199,900 Contingent 13 DOM
8. 2026-06-03
   days on market $199,900 Contingent 12 DOM
9. 2026-06-02
   days on market $199,900 Contingent 11 DOM
10. 2026-06-01
    days on market $199,900 Contingent 10 DOM
11. 2026-05-31
    days on market $199,900 Contingent 9 DOM
12. 2026-05-30
    days on market $199,900 Contingent 8 DOM
13. 2026-05-22
    listed $199,900 Active
14. 2026-05-17
    historical $199,900
15. 2025-10-14
    price $137,500 283-char remark

    Show marketing remark (534 chars)

    Knock, knock, knock that's opportunity to own this classic 1920's duplex in highly desirable Harvard Terrace with tons of character. Stunning wide oak molding, doors and hardwood floors. Living room hosts beautiful decorative fireplace that could be gas. Grand covered porches. Built in cabinetry for storage. Each unit 2 bedrooms, 1 bath. Off street parking. Laundry hookups in basement. Separate gas and electric. Close proximity to river and park, view them from front yard. Live in one, rent the other! Tenants are month to month

16. 2025-10-14
    price $127,000 534-char remark

    Show marketing remark (534 chars)

    Knock, knock, knock that's opportunity to own this classic 1920's duplex in highly desirable Harvard Terrace with tons of character. Stunning wide oak molding, doors and hardwood floors. Living room hosts beautiful decorative fireplace that could be gas. Grand covered porches. Built in cabinetry for storage. Each unit 2 bedrooms, 1 bath. Off street parking. Laundry hookups in basement. Separate gas and electric. Close proximity to river and park, view them from front yard. Live in one, rent the other! Tenants are month to month

17. 2025-10-14
    price $71,280

    Show marketing remark (534 chars)

    Knock, knock, knock that's opportunity to own this classic 1920's duplex in highly desirable Harvard Terrace with tons of character. Stunning wide oak molding, doors and hardwood floors. Living room hosts beautiful decorative fireplace that could be gas. Grand covered porches. Built in cabinetry for storage. Each unit 2 bedrooms, 1 bath. Off street parking. Laundry hookups in basement. Separate gas and electric. Close proximity to river and park, view them from front yard. Live in one, rent the other! Tenants are month to month

18. 2022-08-04
    soldstatus $137,500
19. 2022-08-02
    soldstatus $137,500 Closed 283-char remark

    Show marketing remark (283 chars)

    Very nice size apartments in this great neighborhood close to the park & Zoo. Both have hardwood floors, basement hookup for laundry and front porch area. Off street parking. Start collecting rent or Live in one rent the other you will love it. Please no showings before 11:00 am

20. 2022-06-17
    historical Contingent 283-char remark

    Show marketing remark (283 chars)

    Very nice size apartments in this great neighborhood close to the park & Zoo. Both have hardwood floors, basement hookup for laundry and front porch area. Off street parking. Start collecting rent or Live in one rent the other you will love it. Please no showings before 11:00 am

21. 2022-05-18
    listed $139,500 Active 283-char remark

    Show marketing remark (283 chars)

    Very nice size apartments in this great neighborhood close to the park & Zoo. Both have hardwood floors, basement hookup for laundry and front porch area. Off street parking. Start collecting rent or Live in one rent the other you will love it. Please no showings before 11:00 am

22. 2021-12-24
    status Pending 534-char remark

    Show marketing remark (534 chars)

    Knock, knock, knock that's opportunity to own this classic 1920's duplex in highly desirable Harvard Terrace with tons of character. Stunning wide oak molding, doors and hardwood floors. Living room hosts beautiful decorative fireplace that could be gas. Grand covered porches. Built in cabinetry for storage. Each unit 2 bedrooms, 1 bath. Off street parking. Laundry hookups in basement. Separate gas and electric. Close proximity to river and park, view them from front yard. Live in one, rent the other! Tenants are month to month

23. 2021-12-23
    soldstatus $127,000 Closed 534-char remark

    Show marketing remark (534 chars)

    Knock, knock, knock that's opportunity to own this classic 1920's duplex in highly desirable Harvard Terrace with tons of character. Stunning wide oak molding, doors and hardwood floors. Living room hosts beautiful decorative fireplace that could be gas. Grand covered porches. Built in cabinetry for storage. Each unit 2 bedrooms, 1 bath. Off street parking. Laundry hookups in basement. Separate gas and electric. Close proximity to river and park, view them from front yard. Live in one, rent the other! Tenants are month to month

24. 2021-12-10
    historical Contingent 534-char remark

    Show marketing remark (534 chars)

    Knock, knock, knock that's opportunity to own this classic 1920's duplex in highly desirable Harvard Terrace with tons of character. Stunning wide oak molding, doors and hardwood floors. Living room hosts beautiful decorative fireplace that could be gas. Grand covered porches. Built in cabinetry for storage. Each unit 2 bedrooms, 1 bath. Off street parking. Laundry hookups in basement. Separate gas and electric. Close proximity to river and park, view them from front yard. Live in one, rent the other! Tenants are month to month

25. 2021-10-29
    listed $134,900 Active 534-char remark

    Show marketing remark (534 chars)

    Knock, knock, knock that's opportunity to own this classic 1920's duplex in highly desirable Harvard Terrace with tons of character. Stunning wide oak molding, doors and hardwood floors. Living room hosts beautiful decorative fireplace that could be gas. Grand covered porches. Built in cabinetry for storage. Each unit 2 bedrooms, 1 bath. Off street parking. Laundry hookups in basement. Separate gas and electric. Close proximity to river and park, view them from front yard. Live in one, rent the other! Tenants are month to month

26. 2018-09-14
    soldstatus $71,280
27. 2018-07-26
    listed $72,500
28. 1989-05-02
    soldstatus $60,000
29. 1960-01-18
    soldstatus $17,000

ⓘ 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: $2,754 · $230/mo
• Projected year-2 tax: $2,936 · $245/mo
• Expected delta: +$182/yr (+$15/mo · 6.6%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,812
• − Mortgage interest: −$11,198
• − Property taxes: −$2,754
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,305
• − Management: −$2,305
• − Depreciation: −$5,815
• Taxable income: $3,435
• Est. tax owed @ 24.0%: −$824
• After-tax cash flow: $5,603/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): 29,075
• Household income: $58,961
• Rent vs Own: 40.7% rent · 59.3% own
• Severe rent burden: 1407.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Black 21% Hispanic / Latino 7% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Romanian 8% Italian 5% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Other Indo-European 1% Spanish 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: ▼ -61.96%
• Current HPI: 214.7031
• Rent YoY: ▲ 8.03%
• 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

+1075.9% since first listed

17 events — show timeline

• 2026-05-22 Listed $199,900 NORIS
• 2026-05-17 Coming Soon $199,900 NORIS
• 2025-10-14 Price Changed $137,500 NORIS
• 2025-10-14 Price Changed $127,000 NORIS
• 2025-10-14 Price Changed $71,280 NORIS
• 2022-08-04 Sold (Public Records) $137,500 Public Records
• 2022-08-02 Sold (MLS) $137,500 NORIS
• 2022-06-17 Contingent — NORIS
• 2022-05-18 Listed $139,500 NORIS
• 2021-12-24 Pending — NORIS
• 2021-12-23 Sold (MLS) $127,000 NORIS
• 2021-12-10 Contingent — NORIS
• 2021-10-29 Listed $134,900 NORIS
• 2018-09-14 Sold (MLS) $71,280 NORIS
• 2018-07-26 Listed $72,500 NORIS
• 1989-05-02 Sold (Public Records) $60,000 Public Records
• 1960-01-18 Sold (Public Records) $17,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $2,754 · -0.3% YoY. Source: county tax records.