811 Collins St · Toledo, OH 43610

$121,000

6 bd · 1.5 ba · 2,546 sqft · MultiFamily public records · 260 Days on market

Built 1907 3,202 sqft lot $48/sqft · 82% above area

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +7.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

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 10-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 $768.5K. The sub-portfolio includes 1820 Marne, 2002 Brame, 343 Heffner, 1215 Woodstock, 323 Champion, 3350 Maple, 811 Collins, 17 E Oakland, and 522 Saint Louis. 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

• Forced air heating
• Detached parking
• Shingle roof

Tags

• FORCED AIR HEATING
• NATURAL GAS FUEL
• CENTRAL AIR
• VINYL EXTERIOR
• SHINGLE ROOF
• DETACHED PARKING

What this means for you Summary

Snapshot

• This is a 6-bed/1.5-bath multifamily listed at $121k.

Deal economics

• At list price, monthly cash flow is $54k ($643k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($69k rent vs $121k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 538.1% 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: 30 active listings in the ZIP; lower-income renter base — watch delinquency; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• At $69,000/mo this rent would consume 2158% of the median local household income ($38k/yr) (locally 16% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $6k of equity ($837 loan paydown + $6k appreciation (4.7% 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 (4.7% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 260 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y ago; this cycle's ask is 14567% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $57k; list at $121k implies a 112% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,480 (12.0% below list)

Questions for the listing agent

1. It's been on market 260 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 1907 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 57.02% ✓
• Cap rate: 538.11%
• Cash-on-cash: 1899.33%
• DSCR: 85.51
• GRM: 0.1

CMA / ARV

• ARV (median comp): $64,272
• List price: $121,000
• Delta: 88.26%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
406 Islington St	0.52mi	6/2.0	2,800 (+10%)	23mo	$34,000	$12	38
2369 Maplewood Ave	0.50mi	5/2.0 (-1)	2,202 (-14%)	14mo	$60,000	$27	35

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

Projected returns pro-forma

4.65% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 102.59×
• Total profit: $3,441,908
• Equity at exit: $65,991

10-year hold

• IRR: —
• Equity multiple: 221.05×
• Total profit: $7,455,365
• Equity at exit: $111,814

Cash invested: $33,880 (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 43610

• Home prices YoY: 3.8%
• Active inventory: 30
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $69,000 medium
• Mortgage (P&I): −$635
• Tax from tax record: −$201 /mo · $2,407/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$14,490
• Net cashflow: $53,624

Break-even live

Break-even rent $1,121

Max offer price $121,000

Occupancy floor 17%

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

Units	Beds	Baths	Est. rent
▸ 46× units	6	2	$69,000
Total (46 units)			$69,000

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: $30,250
• Closing costs: $3,630
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-18
   days on market $121,000 Active 260 DOM
2. 2026-06-17
   days on market $121,000 Active 259 DOM
3. 2026-06-16
   days on market $121,000 Active 258 DOM
4. 2026-06-15
   days on market $121,000 Active 257 DOM
5. 2026-06-14
   days on market $121,000 Active 255 DOM
6. 2026-06-10
   days on market $121,000 Active 252 DOM
7. 2026-06-09
   days on market $121,000 Active 251 DOM
8. 2026-06-08
   days on market $121,000 Active 250 DOM
9. 2026-06-07
   days on market $121,000 Active 249 DOM
10. 2026-06-05
    days on market $121,000 Active 246 DOM
11. 2026-06-03
    days on market $121,000 Active 245 DOM
12. 2026-06-02
    days on market $121,000 Active 244 DOM
13. 2026-06-01
    days on market $121,000 Active 243 DOM
14. 2026-05-31
    days on market $121,000 Active 242 DOM
15. 2026-05-30
    days on market $121,000 Active 241 DOM
16. 2026-04-22
    historical $775
17. 2026-03-12
    price $775
18. 2026-03-11
    listed $825
19. 2026-01-14
    price $143,500 739-char remark

    Show marketing remark (739 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 10-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 $768.5K. The sub-portfolio includes 1820 Marne, 2002 Brame, 343 Heffner, 1215 Woodstock, 323 Champion, 3350 Maple, 811 Collins, 17 E Oakland, and 522 Saint Louis. The entire 46-unit list can be found in the attachments. Property is occupied and photos are from the last time it was vacant.

20. 2025-11-10
    price $151,000 739-char remark

    Show marketing remark (739 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 10-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 $768.5K. The sub-portfolio includes 1820 Marne, 2002 Brame, 343 Heffner, 1215 Woodstock, 323 Champion, 3350 Maple, 811 Collins, 17 E Oakland, and 522 Saint Louis. 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. 2025-10-14
    price $57,000 253-char remark

    Show marketing remark (253 chars)

    Location, Character, and Charm to say the least! Spacious 3 Bedroom units with a rent potential of $850 per unit. Utilities are separate. Could be sold separately or as a package with 627 Curtis, 643 Curtis, 1706 Freeman, 1122 Parkside, and 421 Spencer.

22. 2025-09-27
    listed $170,000 Active 739-char remark

    Show marketing remark (739 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 10-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 $768.5K. The sub-portfolio includes 1820 Marne, 2002 Brame, 343 Heffner, 1215 Woodstock, 323 Champion, 3350 Maple, 811 Collins, 17 E Oakland, and 522 Saint Louis. The entire 46-unit list can be found in the attachments. Property is occupied and photos are from the last time it was vacant.

23. 2025-08-05
    historical $825
24. 2025-07-30
    listed $825
25. 2025-07-29
    historical $875
26. 2025-05-24
    listed $875
27. 2025-05-20
    historical $875
28. 2025-05-09
    price $875
29. 2025-05-01
    listed $900
30. 2023-07-26
    soldstatus $57,000
31. 2023-06-29
    soldstatus $57,000 Closed 253-char remark

    Show marketing remark (253 chars)

    Location, Character, and Charm to say the least! Spacious 3 Bedroom units with a rent potential of $850 per unit. Utilities are separate. Could be sold separately or as a package with 627 Curtis, 643 Curtis, 1706 Freeman, 1122 Parkside, and 421 Spencer.

32. 2023-06-28
    status Pending 253-char remark

    Show marketing remark (253 chars)

    Location, Character, and Charm to say the least! Spacious 3 Bedroom units with a rent potential of $850 per unit. Utilities are separate. Could be sold separately or as a package with 627 Curtis, 643 Curtis, 1706 Freeman, 1122 Parkside, and 421 Spencer.

33. 2023-06-20
    historical Contingent 253-char remark

    Show marketing remark (253 chars)

    Location, Character, and Charm to say the least! Spacious 3 Bedroom units with a rent potential of $850 per unit. Utilities are separate. Could be sold separately or as a package with 627 Curtis, 643 Curtis, 1706 Freeman, 1122 Parkside, and 421 Spencer.

34. 2023-04-04
    listed $62,000 Active 253-char remark

    Show marketing remark (253 chars)

    Location, Character, and Charm to say the least! Spacious 3 Bedroom units with a rent potential of $850 per unit. Utilities are separate. Could be sold separately or as a package with 627 Curtis, 643 Curtis, 1706 Freeman, 1122 Parkside, and 421 Spencer.

35. 2023-01-14
    historical
36. 2022-10-14
    listed $84,900 Active

ⓘ 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: $2,407 · $201/mo
• Projected year-2 tax: $2,407 · $201/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $828,000
• − Mortgage interest: −$6,778
• − Property taxes: −$2,407
• − Insurance: −$605
• − Repairs & maintenance: −$66,240
• − Management: −$66,240
• − Depreciation: −$3,520
• Taxable income: $682,210
• Est. tax owed @ 24.0%: −$163,730
• After-tax cash flow: $479,763/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 · 437,818 people
• City population: 280,811
• Metro: Toledo, OH
• Population (ZIP): 4,057
• Household income: $38,369
• Rent vs Own: 41.4% rent · 58.6% own
• Severe rent burden: 15.7

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: Majority Black (64%)
• Race & ethnicity: Black 64% White 29% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Romanian 5% Iranian 3% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

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: ▲ 4.65%
• Current HPI: 126.1457
• Rent YoY: —
• Metro: —
• 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

+69.0% since first listed

21 events — show timeline

• 2026-04-22 Rental Removed $775 TENANTTURNER2
• 2026-03-12 Price Changed $775 TENANTTURNER2
• 2026-03-11 Listed for Rent $825 TENANTTURNER2
• 2026-01-14 Price Changed $143,500 NORIS
• 2025-11-10 Price Changed $151,000 NORIS
• 2025-10-14 Price Changed $57,000 NORIS
• 2025-09-27 Listed $170,000 NORIS
• 2025-08-05 Rental Removed $825 TENANTTURNER2
• 2025-07-30 Listed for Rent $825 TENANTTURNER2
• 2025-07-29 Rental Removed $875 TENANTTURNER2
• 2025-05-24 Listed for Rent $875 TENANTTURNER2
• 2025-05-20 Rental Removed $875 TENANTTURNER2
• 2025-05-09 Price Changed $875 TENANTTURNER2
• 2025-05-01 Listed for Rent $900 TENANTTURNER2
• 2023-07-26 Sold (Public Records) $57,000 Public Records
• 2023-06-29 Sold (MLS) $57,000 NORIS
• 2023-06-28 Pending — NORIS
• 2023-06-20 Contingent — NORIS
• 2023-04-04 Listed $62,000 NORIS
• 2023-01-14 Listing Removed — NORIS
• 2022-10-14 Listed $84,900 NORIS

Property tax history

+3.7%/yr

Latest (2025): $2,407 · +12.1% YoY. Source: county tax records.