1455 Chester St · Toledo, OH 43609

$109,900

4 bd · 2.0 ba · 1,760 sqft · MultiFamily public records · 41 Days on market

Built 1902 3,600 sqft lot $62/sqft · 44% above area Est $76k · 44% over

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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
• 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
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

GREAT CASH FLOW. QUIET LOCATION WITH LONG TERM TENANTS.

Key facts

• Major system updates
• 3,600 sq ft lot
• 2 parking spots

Tags

• FULLY RENOVATED DUPLEX
• MAJOR SYSTEM UPDATES
• IMMEDIATE RENTAL INCOME

Property features AI

Finance

• Financial info: Two-unit property — both units leased; Tenants pay electricity and gas; Owner pays insurance and lawn care

Exterior

• Parking: Off-street parking for 2 vehicles
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer
• Home design: Duplex residential income property; Two stories
• Construction: Aluminum siding; Block foundation
• Exterior features: Shingle roof

Interior

• Flooring: Carpet; Vinyl
• Heating & cooling: Forced air heating
• Interior features: Other interior features

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $110k.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive. Per door: $152/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.6% vs local median 7.7% 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: Walbridge Elementary School (math 8% / reading 22%, grade F, #1,382 of 1,584 statewide, top 88%, 280 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 (+7.8%/yr); 100 active listings in the ZIP; 11 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).

Forward outlook

• In year one you build about $2k of equity ($760 loan paydown + $824 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 $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y 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 $15k; list at $110k implies a 633% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1902 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,603 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.69% ✓
• Cap rate: 14.64%
• Cash-on-cash: 29.82%
• DSCR: 2.33
• GRM: 4.9

CMA / ARV

• ARV (median comp): $76,325
• List price: $109,900
• Delta: 43.99%
• Verdict: OVERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1266 Western Ave	0.22mi	3/2.0 (-1)	1,667 (-5%)	6mo	$26,150	$16	71
1820 Dunham St	0.62mi	4/2.0	2,000 (+14%)	9mo	$68,000	$34	41

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: 18.2%
• Equity multiple: 1.97×
• Total profit: $29,767
• Equity at exit: $36,092

10-year hold

• IRR: 25.6%
• Equity multiple: 4.69×
• Total profit: $113,609
• Equity at exit: $46,879

Cash invested: $30,772 (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 43609

• Home prices YoY: 0.3%
• Rents YoY: 7.8%
• Active inventory: 100
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,857 high
• Mortgage (P&I): −$576
• Tax from tax record: −$80 /mo · $964/yr
• Insurance: −$46
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $304

Break-even live

Break-even rent $1,472

Max offer price $109,900

Occupancy floor 79%

Sensitivity live

Price	-10% $366	-5% $335	+0% $304	+5% $273	+10% $242
Rent	-10% $157	-5% $231	+0% $304	+5% $378	+10% $451
Rate	-1.0pp $360	-0.5pp $332	base $304	+0.5pp $276	+1.0pp $247

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,856
Total (2 units)			$1,857

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
523 Nicholas St Toledo, OH	3.0	1.0	1290	$1,350	$1.05	15d	1	0.42mi
1021 Walbridge Ave Toledo, OH	3.0	1.0	1592	$975	$0.61	45d	1	0.62mi
319 N Detroit Ave Toledo, OH	3.0	1.0	1341	$845	$0.63	45d	1	0.64mi
825 Brighton Ave Toledo, OH	3.0	1.0	1533	$1,350	$0.88	45d	1	0.78mi
2424 Broadway St Toledo, OH	3.0	1.0	1416	$1,049	$0.74	15d	1	0.94mi
1122 Pinewood Ave Toledo, OH	3.0	1.0	1559	$1,150	$0.74	15d	1	1.11mi
915 Woodstock Ave Toledo, OH	3.0	1.5	1500	$1,100	$0.73	25d	1	1.25mi
1140 Palmwood Ave Toledo, OH	3.0	1.0	1292	$1,500	$1.16	45d	1	1.28mi
2802 Broadway St Unit 1 Toledo, OH	3.0	1.0	1650	$1,400	$0.85	15d	1	1.43mi
1420 Addington Rd Toledo, OH	5.0	1.5	1728	$1,500	$0.87	45d	1	1.47mi
569 Colima Dr Toledo, OH	3.0	1.0	1253	$1,300	$1.04	25d	1	1.49mi

Listing history 31 events

1. 2026-06-21
   days on market $109,900 Active 41 DOM
2. 2026-06-18
   days on market $109,900 Active 38 DOM
3. 2026-06-17
   days on market $109,900 Active 37 DOM
4. 2026-06-16
   days on market $109,900 Active 36 DOM
5. 2026-06-15
   days on market $109,900 Active 35 DOM
6. 2026-06-14
   days on market $109,900 Active 33 DOM
7. 2026-06-10
   days on market $109,900 Active 30 DOM
8. 2026-06-09
   days on market $109,900 Active 29 DOM
9. 2026-06-08
   days on market $109,900 Active 28 DOM
10. 2026-06-07
    days on market $109,900 Active 27 DOM
11. 2026-06-05
    days on market $109,900 Active 24 DOM
12. 2026-06-03
    days on market $109,900 Active 23 DOM
13. 2026-06-02
    days on market $109,900 Active 22 DOM
14. 2026-06-01
    days on market $109,900 Active 21 DOM
15. 2026-05-31
    days on market $109,900 Active 20 DOM
16. 2026-05-30
    days on market $109,900 Active 19 DOM
17. 2026-05-04
    listed $114,900 Active 459-char remark
18. 2025-10-14
    price $30,000 55-char remark

    Show marketing remark (55 chars)

    GREAT CASH FLOW. QUIET LOCATION WITH LONG TERM TENANTS.

19. 2025-10-13
    price $6,000

    Show marketing remark (260 chars)

    GREAT BUY FOR THIS 2 FAM BLDG WITH 2 BRMS EACH. NEEDS SOME REPAIRS & UPDATES BUT GOOD VALUE WITH YOUR IMPROVEMENTS. CORPORATE OWNED, SOLD AS-IS. SUBJ TO SELLERS PURCH ADDEND. BUYER TO PAY COSTS OF CONV FEE & TITLE REPORT. FAX CASH OFFER W/POF TOGETHER.

20. 2025-06-10
    soldstatus $15,000
21. 2010-02-26
    soldstatus $6,000

    Show marketing remark (260 chars)

    GREAT BUY FOR THIS 2 FAM BLDG WITH 2 BRMS EACH. NEEDS SOME REPAIRS & UPDATES BUT GOOD VALUE WITH YOUR IMPROVEMENTS. CORPORATE OWNED, SOLD AS-IS. SUBJ TO SELLERS PURCH ADDEND. BUYER TO PAY COSTS OF CONV FEE & TITLE REPORT. FAX CASH OFFER W/POF TOGETHER.

22. 2009-12-28
    listed $7,900

    Show marketing remark (260 chars)

    GREAT BUY FOR THIS 2 FAM BLDG WITH 2 BRMS EACH. NEEDS SOME REPAIRS & UPDATES BUT GOOD VALUE WITH YOUR IMPROVEMENTS. CORPORATE OWNED, SOLD AS-IS. SUBJ TO SELLERS PURCH ADDEND. BUYER TO PAY COSTS OF CONV FEE & TITLE REPORT. FAX CASH OFFER W/POF TOGETHER.

23. 2008-11-17
    historical
24. 2008-06-08
    listed $19,900
25. 2004-06-23
    soldstatus $30,000 55-char remark

    Show marketing remark (55 chars)

    GREAT CASH FLOW. QUIET LOCATION WITH LONG TERM TENANTS.

26. 2004-06-23
    soldstatus $30,000

    Show marketing remark (55 chars)

    GREAT CASH FLOW. QUIET LOCATION WITH LONG TERM TENANTS.

27. 2004-02-11
    listed $35,000 55-char remark

    Show marketing remark (55 chars)

    GREAT CASH FLOW. QUIET LOCATION WITH LONG TERM TENANTS.

28. 2003-11-01
    historical
29. 2003-09-19
    listed $39,900
30. 2003-06-17
    soldstatus $25,000
31. 2003-04-17
    soldstatus $33,000

ⓘ 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: $964 · $80/mo
• Projected year-2 tax: $1,339 · $112/mo
• Expected delta: +$375/yr (+$31/mo · 39.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% 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: $22,284
• − Mortgage interest: −$6,156
• − Property taxes: −$964
• − Insurance: −$6,074
• − Repairs & maintenance: −$1,783
• − Management: −$1,783
• − Depreciation: −$3,197
• Taxable income: $2,327
• Est. tax owed @ 24.0%: −$559
• After-tax cash flow: $3,092/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

+233.0% since first listed

16 events — show timeline

• 2026-05-29 Price Changed $109,900 NORIS
• 2026-05-04 Listed $114,900 NORIS
• 2025-10-14 Price Changed $30,000 NORIS
• 2025-10-13 Price Changed $6,000 NORIS
• 2025-06-10 Sold (Public Records) $15,000 Public Records
• 2010-02-26 Sold (MLS) $6,000 NORIS
• 2009-12-28 Listed $7,900 NORIS
• 2008-11-17 Listing Removed — NORIS
• 2008-06-08 Listed $19,900 NORIS
• 2004-06-23 Sold (Public Records) $30,000 Public Records
• 2004-06-23 Sold (MLS) $30,000 NORIS
• 2004-02-11 Listed $35,000 NORIS
• 2003-11-01 Listing Removed — NORIS
• 2003-09-19 Listed $39,900 NORIS
• 2003-06-17 Sold (Public Records) $25,000 Public Records
• 2003-04-17 Sold (Public Records) $33,000 Public Records

Property tax history

+8.2%/yr

Latest (2025): $964 · +1.5% YoY. Source: county tax records.