1607 Indiana Ave · Toledo, OH 43607

$71,900

4 bd · 1.0 ba · 1,703 sqft · SingleFamily public records · 114 Days on market

Built 1912 6,400 sqft lot Est $106k · 32% 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 +15.0/15.0
• 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

Listing remarks MLS

Well-maintained income property with a long-term Section 8 tenant in place, offering immediate cash flow from day one. Currently utilized as a single-family residence with one tenant occupying the entire home, however the property is legally configured as a duplex and could easily be converted back to two separate units for increased rental income. Solid condition throughout and cared for over the years. Great opportunity for investors or owner-occupants looking to house hack.

Key facts

• Solid condition
• Great opportunity
• 6,400 sq ft lot

Tags

• SINGLE-FAMILY RESIDENCE
• LEGALLY CONFIGURED DUPLEX
• SOLID CONDITION
• GREAT OPPORTUNITY

🏷️ Possibly a rental listed for sale. The $71,900 price doesn't fit this home's estimated sale value (~$105,883) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $72k.

Deal economics

• At list price, monthly cash flow is $626 ($8k/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: $65k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.7% 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-, 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 (+8.2%/yr); 83 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% 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 40% of the median local income ($41k/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 $497 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y 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 $72k implies a 379% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,429 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1912 — 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: 1.93% ✓
• Cap rate: 16.74%
• Cash-on-cash: 37.32%
• DSCR: 2.66
• GRM: 4.3

CMA / ARV

• ARV (median comp): $105,883
• List price: $71,900
• Delta: -32.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
834 N Detroit Ave	0.15mi	4/1.0	1,552 (-9%)	5mo	$35,000	$23	74
1434 Nebraska Ave	0.37mi	3/1.0 (-1)	1,666 (-2%)	6mo	$50,000	$30	69
1264 Fernwood Ave	0.50mi	4/1.0	1,614 (-5%)	2mo	$125,000	$77	66
1131 Montrose Ave	0.38mi	3/1.0 (-1)	1,642 (-4%)	7mo	$35,000	$21	66
1518 Buckingham St	0.50mi	5/2.0 (+1)	1,728 (+2%)	2mo	$110,000	$64	64
1116 Woodstock Ave	0.52mi	3/2.0 (-1)	1,694 (-0%)	4mo	$72,000	$43	63
1424 Addington Rd	0.56mi	3/1.5 (-1)	1,726 (+1%)	3mo	$153,198	$89	62
1938 Fernwood Ave	0.50mi	3/1.0 (-1)	1,502 (-12%)	3mo	$95,900	$64	50
1513 Waverly Ave	0.57mi	3/1.5 (-1)	1,578 (-7%)	7mo	$123,400	$78	48
1133 N Blum St	0.65mi	4/1.0	1,923 (+13%)	3mo	$40,000	$21	46
2004 Calumet Ave	0.70mi	4/1.5	1,557 (-9%)	7mo	$50,000	$32	45
1812 Joffre Ave	0.54mi	4/2.0	1,450 (-15%)	7mo	$95,927	$66	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 38.7%
• Equity multiple: 2.77×
• Total profit: $35,565
• Equity at exit: $10,721

10-year hold

• IRR: 47.5%
• Equity multiple: 6.75×
• Total profit: $115,709
• Equity at exit: $6,217

Cash invested: $20,132 (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: 4.3×

Monthly cashflow live

• Estimated rent: $1,387 high
• Mortgage (P&I): −$377
• Tax from tax record: −$63 /mo · $755/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $626

Break-even live

Break-even rent $595

Max offer price $71,900

Occupancy floor 50%

Sensitivity live

Price	-10% $667	-5% $646	+0% $626	+5% $606	+10% $585
Rent	-10% $517	-5% $571	+0% $626	+5% $681	+10% $736
Rate	-1.0pp $662	-0.5pp $644	base $626	+0.5pp $608	+1.0pp $589

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: $17,975
• Closing costs: $2,157
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
319 N Detroit Ave Toledo, OH	3.0	1.0	1341	$845	$0.63	44d	1	0.44mi
915 Woodstock Ave Toledo, OH	3.0	1.5	1500	$1,100	$0.73	24d	1	0.51mi
1420 Addington Rd Toledo, OH	5.0	1.5	1728	$1,500	$0.87	44d	1	0.54mi
1122 Pinewood Ave Toledo, OH	3.0	1.0	1559	$1,150	$0.74	14d	1	0.64mi
1140 Palmwood Ave Toledo, OH	3.0	1.0	1292	$1,500	$1.16	44d	1	0.67mi
2117 Clinton St Toledo, OH	3.0	1.0	1256	$1,115	$0.89	44d	1	0.84mi
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	44d	1	1.24mi
2037 Alvin St Toledo, OH	3.0	1.0	1260	$1,175	$0.93	44d	1	1.25mi
2314 Airline Ave Toledo, OH	3.0	1.0	1123	$1,478	$1.32	24d	1	1.36mi
523 Nicholas St Toledo, OH	3.0	1.0	1290	$1,350	$1.05	14d	1	1.39mi
532 Carlton St Toledo, OH	3.0	1.0	1130	$1,050	$0.93	44d	1	1.42mi

Listing history 25 events

1. 2026-06-18
   days on market $71,900 Active 114 DOM
2. 2026-06-17
   days on market $71,900 Active 113 DOM
3. 2026-06-16
   days on market $71,900 Active 112 DOM
4. 2026-06-15
   days on market $71,900 Active 111 DOM
5. 2026-06-14
   days on market $71,900 Active 109 DOM
6. 2026-06-10
   days on market $71,900 Active 106 DOM
7. 2026-06-09
   days on market $71,900 Active 105 DOM
8. 2026-06-08
   days on market $71,900 Active 104 DOM
9. 2026-06-07
   days on market $71,900 Active 103 DOM
10. 2026-06-05
    days on market $71,900 Active 100 DOM
11. 2026-06-03
    days on market $71,900 Active 99 DOM
12. 2026-06-02
    days on market $71,900 Active 98 DOM
13. 2026-06-01
    days on market $71,900 Active 97 DOM
14. 2026-05-31
    days on market $71,900 Active 96 DOM
15. 2026-05-30
    days on market $71,900 Active 95 DOM
16. 2026-03-03
    price $71,900 481-char remark

    Show marketing remark (481 chars)

    Well-maintained income property with a long-term Section 8 tenant in place, offering immediate cash flow from day one. Currently utilized as a single-family residence with one tenant occupying the entire home, however the property is legally configured as a duplex and could easily be converted back to two separate units for increased rental income. Solid condition throughout and cared for over the years. Great opportunity for investors or owner-occupants looking to house hack.

17. 2026-02-20
    listed $74,900 Active 481-char remark

    Show marketing remark (481 chars)

    Well-maintained income property with a long-term Section 8 tenant in place, offering immediate cash flow from day one. Currently utilized as a single-family residence with one tenant occupying the entire home, however the property is legally configured as a duplex and could easily be converted back to two separate units for increased rental income. Solid condition throughout and cared for over the years. Great opportunity for investors or owner-occupants looking to house hack.

18. 2025-10-14
    price $19,300 208-char remark

    Show marketing remark (208 chars)

    CROSS REFERENCE AS DUPLEX- SEPERATE ELECTRIC, FURNACE. NEW STEAM UNIT 1993. BEAUTIFUL WOOD COLUMNS ON 1ST FLOOR, 2 FULL BATHS, HAS BEEN CONVERTED TO A DUPLEX. CAN BE CHANGED BACK TO SINGLE FAMILY.INFO C# 3291

19. 2025-10-14
    price $15,000

    Show marketing remark (208 chars)

    CROSS REFERENCE AS DUPLEX- SEPERATE ELECTRIC, FURNACE. NEW STEAM UNIT 1993. BEAUTIFUL WOOD COLUMNS ON 1ST FLOOR, 2 FULL BATHS, HAS BEEN CONVERTED TO A DUPLEX. CAN BE CHANGED BACK TO SINGLE FAMILY.INFO C# 3291

20. 2002-12-09
    soldstatus $15,000
21. 2002-07-22
    listed $17,900
22. 1999-10-29
    soldstatus $19,300 208-char remark

    Show marketing remark (208 chars)

    CROSS REFERENCE AS DUPLEX- SEPERATE ELECTRIC, FURNACE. NEW STEAM UNIT 1993. BEAUTIFUL WOOD COLUMNS ON 1ST FLOOR, 2 FULL BATHS, HAS BEEN CONVERTED TO A DUPLEX. CAN BE CHANGED BACK TO SINGLE FAMILY.INFO C# 3291

23. 1999-06-09
    listed $19,500 208-char remark

    Show marketing remark (208 chars)

    CROSS REFERENCE AS DUPLEX- SEPERATE ELECTRIC, FURNACE. NEW STEAM UNIT 1993. BEAUTIFUL WOOD COLUMNS ON 1ST FLOOR, 2 FULL BATHS, HAS BEEN CONVERTED TO A DUPLEX. CAN BE CHANGED BACK TO SINGLE FAMILY.INFO C# 3291

24. 1989-09-20
    soldstatus $16,000
25. 1971-05-28
    soldstatus $15,000

ⓘ 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: $755 · $63/mo
• Projected year-2 tax: $938 · $78/mo
• Expected delta: +$184/yr (+$15/mo · 24.3%)

ⓘ 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,649
• − Mortgage interest: −$4,028
• − Property taxes: −$755
• − Insurance: −$360
• − Repairs & maintenance: −$1,332
• − Management: −$1,332
• − Depreciation: −$2,092
• Taxable income: $6,752
• Est. tax owed @ 24.0%: −$1,620
• After-tax cash flow: $5,893/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

+379.3% since first listed

10 events — show timeline

• 2026-03-03 Price Changed $71,900 NORIS
• 2026-02-20 Listed $74,900 NORIS
• 2025-10-14 Price Changed $19,300 NORIS
• 2025-10-14 Price Changed $15,000 NORIS
• 2002-12-09 Sold (MLS) $15,000 NORIS
• 2002-07-22 Listed $17,900 NORIS
• 1999-10-29 Sold (MLS) $19,300 NORIS
• 1999-06-09 Listed $19,500 NORIS
• 1989-09-20 Sold (Public Records) $16,000 Public Records
• 1971-05-28 Sold (Public Records) $15,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $755 · +4.6% YoY. Source: county tax records.