205 Eastern Ave · Toledo, OH 43609

$72,000

3 bd · 1.0 ba · 1,236 sqft · SingleFamily public records · 265 Days on market

Built 1910 3,001 sqft lot $58/sqft · 69% 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
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• Appreciation +5.4/10.0
• Rent growth +4.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks MLS

NOTICE: We are not considering seller financing or creative financing offers that do not consist of us in recorded first lien position with a minimum of 30% down. Thank you for understanding! This property is being sold as part of an 46-unit portfolio or a 7-unit sub-portfolio. In place cap is ~8.5%, pro forma cap is ~11.0%, and occupancy is 100%. Asking price for the 46-unit portfolio is $3.57M and asking price for the 5-unit sub-portfolio is $597.5K. The sub-portfolio includes 205 Eastern, 323 Langdon, 2388 York, 1512 Vinal, 142 S Detroit, 56 E Pearl, and 920 Rogers. The entire 46-unit list can be found in the attachments. Property is occupied and photos are from the last time it was vacant.

Key facts

• 3,001 sq ft lot
• Garage
• Built 1910

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $72k.

Deal economics

• At list price, monthly cash flow is $372 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $72k).
• Recommended offer: $63k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 7.5% 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 (+7.8%/yr); 100 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 30% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $1k of equity ($498 loan paydown + $540 appreciation (0.8% 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 (0.8% appreciation + 7.8% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 265 days — a 12% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $15k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 265 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 1910 — 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: 1.48% ✓
• Cap rate: 12.50%
• Cash-on-cash: 22.16%
• DSCR: 1.99
• GRM: 5.6

CMA / ARV

• ARV (median comp): $42,621
• List price: $72,000
• Delta: 68.93%
• 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
204 South Ave	0.28mi	3/1.0	1,204 (-3%)	1mo	$115,000	$96	82
518 South Ave	0.42mi	3/1.0	1,255 (+2%)	6mo	$64,000	$51	73
223 Linden Pl	0.43mi	3/1.0	1,242 (+0%)	12mo	$24,900	$20	70
251 Knower St	0.26mi	3/1.0	1,119 (-10%)	4mo	$30,000	$27	68
717 Segur Ave	0.61mi	2/1.0 (-1)	1,188 (-4%)	2mo	$79,000	$66	58
215 Walbridge Ave	0.19mi	2/1.0 (-1)	1,104 (-11%)	13mo	$45,000	$41	57
435 Crittenden Ave	0.29mi	3/2.0	1,404 (+14%)	4mo	$75,000	$53	57
413 Walbridge Ave	0.29mi	3/2.0	1,384 (+12%)	7mo	$27,450	$20	57
650 Curtis St	0.72mi	3/1.0	1,300 (+5%)	3mo	$39,000	$30	55
511 Congress St	0.65mi	3/1.0	1,109 (-10%)	6mo	$55,000	$50	47
559 Prouty Ave	0.60mi	3/1.0	1,407 (+14%)	6mo	$5,200	$4	44
627 Curtis St	0.68mi	3/1.0	1,114 (-10%)	16mo	$52,000	$47	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.75% appreciation · 7.8% rent growth · sell at horizon

5-year hold

• IRR: 27.7%
• Equity multiple: 2.47×
• Total profit: $29,565
• Equity at exit: $23,645

10-year hold

• IRR: 33.3%
• Equity multiple: 5.62×
• Total profit: $93,130
• Equity at exit: $30,712

Cash invested: $20,160 (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 43609

• Home prices YoY: 0.3%
• Rents YoY: 7.8%
• Active inventory: 100
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,064 high
• Mortgage (P&I): −$378
• Tax from tax record: −$60 /mo · $725/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $372

Break-even live

Break-even rent $592

Max offer price $72,000

Occupancy floor 60%

Sensitivity live

Price	-10% $413	-5% $393	+0% $372	+5% $352	+10% $332
Rent	-10% $288	-5% $330	+0% $372	+5% $414	+10% $456
Rate	-1.0pp $409	-0.5pp $391	base $372	+0.5pp $354	+1.0pp $335

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: $18,000
• Closing costs: $2,160
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
244 Knower St Toledo, OH	3.0	1.0	1120	$995	$0.89	15d	1	0.23mi
337 Broadway St Unit 201 Toledo, OH	2.0	1.0	1455	$1,650	$1.13	24d	1	0.40mi
827 Colburn St Toledo, OH	2.0	1.0	1092	$750	$0.69	44d	1	0.84mi
837 Colburn St Unit 2 Toledo, OH	2.0	1.0	1158	$695	$0.60	24d	1	0.85mi
837 Colburn St Unit 1 Toledo, OH	2.0	1.0	1178	$700	$0.59	44d	1	0.85mi
20 Greenwood Ave Toledo, OH	3.0	1.0	1496	$1,150	$0.77	15d	1	0.87mi
771 Orchard St Unit 7715 Toledo, OH	2.0	1.0	1086	$645	$0.59	24d	1	0.88mi
834 Oak St Toledo, OH	3.0	1.0	1064	$900	$0.85	44d	1	1.01mi
950 Oak St Unit 1 Toledo, OH	2.0	1.0	725	$700	$0.97	44d	1	1.03mi
537 Potter St Toledo, OH	2.0	1.0	1200	$625	$0.52	24d	1	1.15mi
200 N St Clair St Toledo, OH	2.0	1.0–2.0	835	$2,550	$3.05	15d	15	1.16mi
946 Butler St Toledo, OH	2.0	1.0	944	$650	$0.69	44d	1	1.21mi
513 Adams St Toledo, OH	1.0–2.0	1.0	1175	$1,424	$1.21	15d	11	1.34mi
470 2nd St Unit 1 Toledo, OH	2.0	1.0	950	$799	$0.84	44d	1	1.39mi
29 Garfield Pl Toledo, OH	4.0	2.0	1300	$1,250	$0.96	15d	1	1.39mi
921 Berry St Toledo, OH	4.0	1.0	1204	$1,350	$1.12	15d	1	1.42mi
908 Forsythe St Unit Upstairs Toledo, OH	2.0	1.0	1164	$900	$0.77	15d	1	1.45mi
908 Forsythe St Unit Downstairs Toledo, OH	3.0	1.0	1164	$950	$0.82	44d	1	1.45mi
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	44d	1	1.46mi
332 14th St Unit 303 Toledo, OH	3.0	1.5	1040	$1,000	$0.96	44d	1	1.46mi
322 14th St Apt 203 Toledo, OH	3.0	1.5	1065	$1,000	$0.94	15d	1	1.46mi
1537 Remington St Toledo, OH	3.0	1.0	1064	$1,095	$1.03	44d	1	1.49mi

Listing history 26 events

1. 2026-06-21
   days on market $72,000 Active 265 DOM
2. 2026-06-18
   days on market $72,000 Active 262 DOM
3. 2026-06-17
   days on market $72,000 Active 261 DOM
4. 2026-06-16
   days on market $72,000 Active 260 DOM
5. 2026-06-15
   days on market $72,000 Active 259 DOM
6. 2026-06-14
   days on market $72,000 Active 257 DOM
7. 2026-06-10
   days on market $72,000 Active 254 DOM
8. 2026-06-09
   days on market $72,000 Active 253 DOM
9. 2026-06-08
   days on market $72,000 Active 252 DOM
10. 2026-06-07
    days on market $72,000 Active 251 DOM
11. 2026-06-05
    days on market $72,000 Active 248 DOM
12. 2026-06-03
    days on market $72,000 Active 247 DOM
13. 2026-06-02
    days on market $72,000 Active 246 DOM
14. 2026-06-01
    days on market $72,000 Active 245 DOM
15. 2026-05-31
    days on market $72,000 Active 244 DOM
16. 2026-05-30
    days on market $72,000 Active 243 DOM
17. 2026-01-14
    price $80,000 703-char remark

    Show marketing remark (703 chars)

    NOTICE: We are not considering seller financing or creative financing offers that do not consist of us in recorded first lien position with a minimum of 30% down. Thank you for understanding! This property is being sold as part of an 46-unit portfolio or a 7-unit sub-portfolio. In place cap is ~8.5%, pro forma cap is ~11.0%, and occupancy is 100%. Asking price for the 46-unit portfolio is $3.57M and asking price for the 5-unit sub-portfolio is $597.5K. The sub-portfolio includes 205 Eastern, 323 Langdon, 2388 York, 1512 Vinal, 142 S Detroit, 56 E Pearl, and 920 Rogers. The entire 46-unit list can be found in the attachments. Property is occupied and photos are from the last time it was vacant.

18. 2025-11-10
    price $84,160 703-char remark

    Show marketing remark (703 chars)

    NOTICE: We are not considering seller financing or creative financing offers that do not consist of us in recorded first lien position with a minimum of 30% down. Thank you for understanding! This property is being sold as part of an 46-unit portfolio or a 7-unit sub-portfolio. In place cap is ~8.5%, pro forma cap is ~11.0%, and occupancy is 100%. Asking price for the 46-unit portfolio is $3.57M and asking price for the 5-unit sub-portfolio is $597.5K. The sub-portfolio includes 205 Eastern, 323 Langdon, 2388 York, 1512 Vinal, 142 S Detroit, 56 E Pearl, and 920 Rogers. The entire 46-unit list can be found in the attachments. Property is occupied and photos are from the last time it was vacant.

19. 2025-10-14
    price $36,000 361-char remark

    Show marketing remark (361 chars)

    Cute 3 bed 1 bath South Toledo home. Currently rented for $650/mo on month to month lease. Lucas County Lead Safe certification. Home is part of a 19 property package being sold either together (at a possible discount) or individually. See attachment for complete list, rental amounts, lease dates and lead safe certs. Call today to add these to your portfolio!

20. 2025-09-24
    listed $87,000 Active 703-char remark

    Show marketing remark (703 chars)

    NOTICE: We are not considering seller financing or creative financing offers that do not consist of us in recorded first lien position with a minimum of 30% down. Thank you for understanding! This property is being sold as part of an 46-unit portfolio or a 7-unit sub-portfolio. In place cap is ~8.5%, pro forma cap is ~11.0%, and occupancy is 100%. Asking price for the 46-unit portfolio is $3.57M and asking price for the 5-unit sub-portfolio is $597.5K. The sub-portfolio includes 205 Eastern, 323 Langdon, 2388 York, 1512 Vinal, 142 S Detroit, 56 E Pearl, and 920 Rogers. The entire 46-unit list can be found in the attachments. Property is occupied and photos are from the last time it was vacant.

21. 2022-02-02
    soldstatus $709,000
22. 2022-01-31
    soldstatus $36,000 Closed 361-char remark

    Show marketing remark (361 chars)

    Cute 3 bed 1 bath South Toledo home. Currently rented for $650/mo on month to month lease. Lucas County Lead Safe certification. Home is part of a 19 property package being sold either together (at a possible discount) or individually. See attachment for complete list, rental amounts, lease dates and lead safe certs. Call today to add these to your portfolio!

23. 2022-01-26
    status Pending 361-char remark

    Show marketing remark (361 chars)

    Cute 3 bed 1 bath South Toledo home. Currently rented for $650/mo on month to month lease. Lucas County Lead Safe certification. Home is part of a 19 property package being sold either together (at a possible discount) or individually. See attachment for complete list, rental amounts, lease dates and lead safe certs. Call today to add these to your portfolio!

24. 2021-11-04
    historical Contingent 361-char remark

    Show marketing remark (361 chars)

    Cute 3 bed 1 bath South Toledo home. Currently rented for $650/mo on month to month lease. Lucas County Lead Safe certification. Home is part of a 19 property package being sold either together (at a possible discount) or individually. See attachment for complete list, rental amounts, lease dates and lead safe certs. Call today to add these to your portfolio!

25. 2021-10-29
    listed $40,000 Active 361-char remark

    Show marketing remark (361 chars)

    Cute 3 bed 1 bath South Toledo home. Currently rented for $650/mo on month to month lease. Lucas County Lead Safe certification. Home is part of a 19 property package being sold either together (at a possible discount) or individually. See attachment for complete list, rental amounts, lease dates and lead safe certs. Call today to add these to your portfolio!

26. 1998-08-13
    soldstatus $17,800

ⓘ 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: $725 · $60/mo
• Projected year-2 tax: $924 · $77/mo
• Expected delta: +$199/yr (+$17/mo · 27.5%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,764
• − Mortgage interest: −$4,033
• − Property taxes: −$725
• − Insurance: −$360
• − Repairs & maintenance: −$1,021
• − Management: −$1,021
• − Depreciation: −$2,095
• Taxable income: $3,509
• Est. tax owed @ 24.0%: −$842
• After-tax cash flow: $3,626/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): 21,404
• Household income: $42,313
• Rent vs Own: 55.7% rent · 44.3% own
• Severe rent burden: 1603.0

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 0.66)
• Race & ethnicity: White 47% Black 29% Hispanic / Latino 17% Two or more races 9%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Arabic 1% French/Haitian/Cajun 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: ▲ 0.75%
• Current HPI: 235.2515
• Rent YoY: ▲ 7.80%
• 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

+349.4% since first listed

10 events — show timeline

• 2026-01-14 Price Changed $80,000 NORIS
• 2025-11-10 Price Changed $84,160 NORIS
• 2025-10-14 Price Changed $36,000 NORIS
• 2025-09-24 Listed $87,000 NORIS
• 2022-02-02 Sold (Public Records) $709,000 Public Records
• 2022-01-31 Sold (MLS) $36,000 NORIS
• 2022-01-26 Pending — NORIS
• 2021-11-04 Contingent — NORIS
• 2021-10-29 Listed $40,000 NORIS
• 1998-08-13 Sold (Public Records) $17,800 Public Records

Property tax history

+1.7%/yr

Latest (2025): $725 · +2.1% YoY. Source: county tax records.