2019 Kensington Rd · Toledo, OH 43607

$105,000

2 bd · 2.0 ba · 1,372 sqft · MultiFamily public records · 41 Days on market

Built 1935 3,300 sqft lot $77/sqft · 16% below area Est $125k · 16% 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 +30.0/30.0
• ARV discount +14.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

This great investment opportunity is just over a mile from the University of Toledo! It offers (ready to be finished) hardwood flooring throughout, separate water heaters and electrical panels. With a little TLC, this duplex is a great opportunity for investors and owner occupants alike. We have priced this place to sell, so get in there fast! All offers will be reviewed once the home has been on the market for 7 days (May 15th). The seller still retains the right to accept any offer beforehand. No escalation clauses accepted.

Key facts

• Gross rental income
• Immediate returns
• Stable tenants

Tags

• CASH-FLOWING DUPLEX
• TENANT-OCCUPIED
• GROSS RENTAL INCOME
• STRONG LOCATION
• STABLE TENANTS
• IMMEDIATE RETURNS

Property features AI

Finance

• Financial info: Two-unit property (1 unit leased, 1 unit vacant); Tenant pays electricity and gas; Owner pays exterior maintenance, gas, repairs, sewer, water, insurance, snow removal, taxes, and lawn care

Exterior

• Parking: 3 total parking spaces; Driveway; Gravel parking area; On-street parking
• Utilities: Electricity connected; Natural gas connected; Public water; Sanitary sewer connected
• Home design: Residential income property (duplex); Two-story; 1 building
• Construction: Vinyl siding; Block foundation
• Exterior features: Shingle roof

Interior

• Kitchen: Refrigerator; Electric range connection; Gas range connection; Water heater
• Flooring: Wood flooring
• Heating & cooling: Forced air heating; Electric heating
• Interior features: Other interior features; Full basement
• Laundry & utility: Electric dryer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $105k.

Deal economics

• At list price, monthly cash flow is $721 ($9k/yr) — positive. Per door: $361/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.5% 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: Old Orchard Elementary School (math 12% / reading 23%, grade F, #1,328 of 1,584 statewide, top 84%, 390 students, 0% FRL); Start High School (math 11% / reading 33%, grade F, #672 of 781 statewide, top 86%, 1,242 students, 50% 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 (+8.2%/yr); 83 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% 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 $1,830/mo this rent would consume 53% of the median local household income ($41k/yr) (locally 1157% 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 $726 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 + 8.0% rent growth), your $29k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 3y 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 $65k; list at $105k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,850 (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 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.74% ✓
• Cap rate: 14.53%
• Cash-on-cash: 29.43%
• DSCR: 2.31
• GRM: 4.8

CMA / ARV

• ARV (median comp): $124,955
• List price: $105,000
• Delta: -15.97%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1919 Kensington Rd	0.06mi	2/2.0	1,360 (-1%)	21mo	$96,000	$71	78

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: 29.5%
• Equity multiple: 2.31×
• Total profit: $38,612
• Equity at exit: $15,656

10-year hold

• IRR: 39.6%
• Equity multiple: 5.66×
• Total profit: $136,889
• Equity at exit: $9,078

Cash invested: $29,400 (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 43607

• Home prices YoY: -27.5%
• Rents YoY: 8.2%
• Active inventory: 83
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,830 high
• Mortgage (P&I): −$551
• Tax from tax record: −$130 /mo · $1,562/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $721

Break-even live

Break-even rent $917

Max offer price $105,000

Occupancy floor 56%

Sensitivity live

Price	-10% $781	-5% $751	+0% $721	+5% $691	+10% $662
Rent	-10% $577	-5% $649	+0% $721	+5% $793	+10% $866
Rate	-1.0pp $774	-0.5pp $748	base $721	+0.5pp $694	+1.0pp $666

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$1,830
Total (2 units)			$1,830

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2030 Wyndhurst Rd Toledo, OH	2.0	1.0	1042	$950	$0.91	44d	1	0.06mi
2037 Alvin St Toledo, OH	3.0	1.0	1260	$1,175	$0.93	44d	1	0.08mi
2637 Greenway St Toledo, OH	2.0	1.0	1082	$900	$0.83	44d	1	0.09mi
2535 W Bancroft St Unit 8 Toledo, OH	2.0	1.0	900	$895	$0.99	44d	1	0.14mi
2632 Algonquin Pkwy Toledo, OH	3.0	1.5	1568	$800	$0.51	24d	1	0.76mi
1133 Parkside Blvd Toledo, OH	2.0	1.0	960	$850	$0.89	44d	1	0.76mi
2704 Kenwood Blvd Toledo, OH	1.0–3.0	1.0	825	$1,196	$1.45	14d	71	0.79mi
2356 Torrey Hill Dr Unit 11 Toledo, OH	2.0	1.0	1050	$800	$0.76	44d	1	0.84mi
932 Turner Ave Toledo, OH	2.0	1.0	960	$1,295	$1.35	14d	1	0.85mi
2650 Christie St Toledo, OH	1.0–2.0	1.0	800	$849	$1.06	44d	1	0.87mi
1919 Ottawa Dr Unit 7 Toledo, OH	2.0	1.0	900	$800	$0.89	44d	1	0.89mi
2734 Powhattan Pkwy Toledo, OH	2.0	1.0	1144	$900	$0.79	44d	1	0.90mi
2322 Upton Ave Toledo, OH	3.0	1.0	1000	$1,300	$1.30	44d	1	0.91mi
915 Woodstock Ave Toledo, OH	3.0	1.5	1500	$1,100	$0.73	24d	1	0.97mi
2117 Clinton St Toledo, OH	3.0	1.0	1256	$1,115	$0.89	44d	1	1.02mi
1738 Milburn Ave Toledo, OH	2.0	1.0	1016	$650	$0.64	24d	1	1.07mi
3835 Monroe St Toledo, OH	2.0	1.0	1002	$950	$0.95	44d	1	1.13mi
3803 Monroe St Toledo, OH	2.0	1.0	942	$850	$0.90	44d	1	1.13mi
2956 Central Ave Toledo, OH	2.0	2.0	1018	$1,495	$1.47	24d	1	1.30mi
2956 Central Ave Toledo, OH	2.0	1.0	999	$1,445	$1.45	44d	1	1.30mi
1785 Tecumseh St Toledo, OH	2.0	1.0	930	$900	$0.97	44d	1	1.46mi

Listing history 41 events

1. 2026-06-18
   days on market $105,000 Active 41 DOM
2. 2026-06-17
   days on market $105,000 Active 40 DOM
3. 2026-06-16
   days on market $105,000 Active 39 DOM
4. 2026-06-15
   days on market $105,000 Active 38 DOM
5. 2026-06-14
   days on market $105,000 Active 36 DOM
6. 2026-06-10
   days on market $105,000 Active 33 DOM
7. 2026-06-09
   days on market $105,000 Active 32 DOM
8. 2026-06-08
   days on market $105,000 Active 31 DOM
9. 2026-06-07
   days on market $105,000 Active 30 DOM
10. 2026-06-05
    days on market $105,000 Active 27 DOM
11. 2026-06-03
    days on market $105,000 Active 26 DOM
12. 2026-06-02
    days on market $105,000 Active 25 DOM
13. 2026-06-01
    days on market $105,000 Active 24 DOM
14. 2026-05-31
    days on market $105,000 Active 23 DOM
15. 2026-05-30
    days on market $105,000 Active 22 DOM
16. 2026-05-08
    listed $105,000 Active 522-char remark
17. 2026-01-20
    historical
18. 2026-01-18
    historical $550
19. 2026-01-07
    price $550
20. 2025-12-06
    status Active
21. 2025-11-26
    listed $565
22. 2025-11-19
    historical $600
23. 2025-11-05
    historical Contingent
24. 2025-10-30
    price $600
25. 2025-10-29
    price $110,000
26. 2025-10-06
    price $113,000
27. 2025-09-17
    listed $665
28. 2025-09-15
    price $117,500
29. 2025-08-29
    listed $119,900 Active
30. 2024-06-27
    historical $650
31. 2024-06-13
    price $650
32. 2024-06-12
    listed $675
33. 2023-10-08
    historical $620
34. 2023-08-24
    listed $620
35. 2023-06-27
    soldstatus $65,000
36. 2023-06-19
    soldstatus $65,000 Closed

    Show marketing remark (532 chars)

    This great investment opportunity is just over a mile from the University of Toledo! It offers (ready to be finished) hardwood flooring throughout, separate water heaters and electrical panels. With a little TLC, this duplex is a great opportunity for investors and owner occupants alike. We have priced this place to sell, so get in there fast! All offers will be reviewed once the home has been on the market for 7 days (May 15th). The seller still retains the right to accept any offer beforehand. No escalation clauses accepted.

37. 2023-05-16
    status Pending

    Show marketing remark (532 chars)

    This great investment opportunity is just over a mile from the University of Toledo! It offers (ready to be finished) hardwood flooring throughout, separate water heaters and electrical panels. With a little TLC, this duplex is a great opportunity for investors and owner occupants alike. We have priced this place to sell, so get in there fast! All offers will be reviewed once the home has been on the market for 7 days (May 15th). The seller still retains the right to accept any offer beforehand. No escalation clauses accepted.

38. 2023-05-16
    price $65,000

    Show marketing remark (532 chars)

    This great investment opportunity is just over a mile from the University of Toledo! It offers (ready to be finished) hardwood flooring throughout, separate water heaters and electrical panels. With a little TLC, this duplex is a great opportunity for investors and owner occupants alike. We have priced this place to sell, so get in there fast! All offers will be reviewed once the home has been on the market for 7 days (May 15th). The seller still retains the right to accept any offer beforehand. No escalation clauses accepted.

39. 2023-05-08
    listed $60,000 Active

    Show marketing remark (532 chars)

    This great investment opportunity is just over a mile from the University of Toledo! It offers (ready to be finished) hardwood flooring throughout, separate water heaters and electrical panels. With a little TLC, this duplex is a great opportunity for investors and owner occupants alike. We have priced this place to sell, so get in there fast! All offers will be reviewed once the home has been on the market for 7 days (May 15th). The seller still retains the right to accept any offer beforehand. No escalation clauses accepted.

40. 2022-12-07
    historical
41. 2022-11-18
    historical

ⓘ 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: $1,562 · $130/mo
• Projected year-2 tax: $1,600 · $133/mo
• Expected delta: +$38/yr (+$3/mo · 2.4%)

ⓘ 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: $21,960
• − Mortgage interest: −$5,882
• − Property taxes: −$1,562
• − Insurance: −$525
• − Repairs & maintenance: −$1,757
• − Management: −$1,757
• − Depreciation: −$3,055
• Taxable income: $7,423
• Est. tax owed @ 24.0%: −$1,781
• After-tax cash flow: $6,872/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): 19,469
• Household income: $41,335
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 1157.0

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 0.57)
• Race & ethnicity: Black 59% White 27% Two or more races 6% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Other Indo-European 1% Spanish 1% Russian/Polish/Slavic 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: ▼ -66.58%
• Current HPI: 175.2772
• Rent YoY: ▲ 8.19%
• 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

+75.0% since first listed

26 events — show timeline

• 2026-05-08 Listed $105,000 NORIS
• 2026-01-20 Listing Removed — NORIS
• 2026-01-18 Rental Removed $550 APPFOLIO
• 2026-01-07 Price Changed $550 APPFOLIO
• 2025-12-06 Relisted — NORIS
• 2025-11-26 Listed for Rent $565 APPFOLIO
• 2025-11-19 Rental Removed $600 APPFOLIO
• 2025-11-05 Contingent — NORIS
• 2025-10-30 Price Changed $600 APPFOLIO
• 2025-10-29 Price Changed $110,000 NORIS
• 2025-10-06 Price Changed $113,000 NORIS
• 2025-09-17 Listed for Rent $665 APPFOLIO
• 2025-09-15 Price Changed $117,500 NORIS
• 2025-08-29 Listed $119,900 NORIS
• 2024-06-27 Rental Removed $650 APPFOLIO
• 2024-06-13 Price Changed $650 APPFOLIO
• 2024-06-12 Listed for Rent $675 APPFOLIO
• 2023-10-08 Rental Removed $620 APPFOLIO
• 2023-08-24 Listed for Rent $620 APPFOLIO
• 2023-06-27 Sold (Public Records) $65,000 Public Records
• 2023-06-19 Sold (MLS) $65,000 NORIS
• 2023-05-16 Pending — NORIS
• 2023-05-16 Price Changed $65,000 NORIS
• 2023-05-08 Listed $60,000 NORIS
• 2022-12-07 Listing Removed — NORIS
• 2022-11-18 Coming Soon — NORIS

Property tax history

+0.8%/yr

Latest (2025): $1,562 · -0.1% YoY. Source: county tax records.