824 Bartley Pl · Toledo, OH 43609

$34,999

5 bd · 2.0 ba · 1,514 sqft · MultiFamily public records · 98 Days on market

Built 1917 3,200 sqft lot $23/sqft · 49% below area Est $68k · 49% under

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Why this score? — see what drove the C 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 +15.0/15.0
• Appreciation +5.4/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

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

Great opportunity for investors or owner-occupants! Solid property with strong potential and flexible options. Seller open to creative financing terms. Property sold AS-IS.

Key facts

• 3,200 sq ft lot
• 2 parking spots
• Built 1917

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $35k.

Deal economics

• At list price, monthly cash flow is $907 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $35k).
• Recommended offer: $32k (9.0% below list) — sets the bar for market timing.
• Cap rate 37.4% 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; lower-income renter base — watch delinquency; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• This rent runs 44% 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 $504 of equity ($242 loan paydown + $262 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $35k implies a 159% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $31,849 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 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 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 4.40% ✓
• Cap rate: 37.38%
• Cash-on-cash: 111.02%
• DSCR: 5.94
• GRM: 1.9

CMA / ARV

• ARV (median comp): $68,494
• List price: $34,999
• Delta: -48.90%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 7.72×
• Total profit: $65,828
• Equity at exit: $11,494

10-year hold

• IRR: —
• Equity multiple: 18.68×
• Total profit: $173,305
• Equity at exit: $14,929

Cash invested: $9,800 (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: 1.9×

Monthly cashflow live

• Estimated rent: $1,539 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$111 /mo · $1,331/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $907

Break-even live

Break-even rent $391

Max offer price $34,999

Occupancy floor 36%

Sensitivity live

Price	-10% $926	-5% $917	+0% $907	+5% $897	+10% $887
Rent	-10% $785	-5% $846	+0% $907	+5% $967	+10% $1,028
Rate	-1.0pp $924	-0.5pp $916	base $907	+0.5pp $898	+1.0pp $888

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $34,999 Active 98 DOM
2. 2026-06-18
   days on market $34,999 Active 95 DOM
3. 2026-06-17
   days on market $34,999 Active 94 DOM
4. 2026-06-16
   days on market $34,999 Active 93 DOM
5. 2026-06-15
   days on market $34,999 Active 92 DOM
6. 2026-06-14
   remarks 195-char remark
7. 2026-06-14
   pricedays on market $34,999 Active 90 DOM
8. 2026-06-10
   days on market $29,999 Active 87 DOM
9. 2026-06-09
   days on market $29,999 Active 86 DOM
10. 2026-06-08
    days on market $29,999 Active 85 DOM
11. 2026-06-07
    days on market $29,999 Active 84 DOM
12. 2026-06-05
    days on market $29,999 Active 81 DOM
13. 2026-06-03
    days on market $29,999 Active 80 DOM
14. 2026-06-02
    days on market $29,999 Active 79 DOM
15. 2026-06-01
    days on market $29,999 Active 78 DOM
16. 2026-05-31
    days on market $29,999 Active 77 DOM
17. 2026-05-30
    days on market $29,999 Active 76 DOM
18. 2026-04-02
    price $29,999 172-char remark

    Show marketing remark (172 chars)

    Great opportunity for investors or owner-occupants! Solid property with strong potential and flexible options. Seller open to creative financing terms. Property sold AS-IS.

19. 2026-04-01
    status Active 172-char remark

    Show marketing remark (172 chars)

    Great opportunity for investors or owner-occupants! Solid property with strong potential and flexible options. Seller open to creative financing terms. Property sold AS-IS.

20. 2026-03-19
    status Pending 172-char remark

    Show marketing remark (172 chars)

    Great opportunity for investors or owner-occupants! Solid property with strong potential and flexible options. Seller open to creative financing terms. Property sold AS-IS.

21. 2026-02-18
    listed $39,999 Active 172-char remark

    Show marketing remark (172 chars)

    Great opportunity for investors or owner-occupants! Solid property with strong potential and flexible options. Seller open to creative financing terms. Property sold AS-IS.

22. 1992-01-08
    soldstatus $13,500
23. 1986-08-19
    soldstatus $12,500

ⓘ 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: $1,331 · $111/mo
• Projected year-2 tax: $1,331 · $111/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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,466
• − Mortgage interest: −$1,960
• − Property taxes: −$1,331
• − Insurance: −$175
• − Repairs & maintenance: −$1,477
• − Management: −$1,477
• − Depreciation: −$1,018
• Taxable income: $11,027
• Est. tax owed @ 24.0%: −$2,646
• After-tax cash flow: $8,233/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

+140.0% since first listed

6 events — show timeline

• 2026-04-02 Price Changed $29,999 NORIS
• 2026-04-01 Relisted — NORIS
• 2026-03-19 Pending — NORIS
• 2026-02-18 Listed $39,999 NORIS
• 1992-01-08 Sold (Public Records) $13,500 Public Records
• 1986-08-19 Sold (Public Records) $12,500 Public Records

Property tax history

+4.6%/yr

Latest (2025): $1,331 · +1.7% YoY. Source: county tax records.