2335 Airport Hwy · Toledo, OH 43609

$84,900

3 bd · 1.0 ba · 1,270 sqft · SingleFamily public records · 102 Days on market

Built 1923 3,400 sqft lot $67/sqft · 15% below area Est $100k · 15% under

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Why this score? — see what drove the A- 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 +14.2/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• 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

Listing remarks MLS

Strong income producing single family home. Long standing tenant on $950/mo lease. Well maintained 3/bed 1/bath in South Toledo. This home offers a comfortable and functional layout with a spacious living room, an easy-flow dining area, and a kitchen with space for everyday use. The bedrooms are nicely sized, and the home has been thoughtfully kept. Updates include new roof (2017) and new furnace (2017). Detached garage offers additional parking space, with electricity available. Conveniently located minutes from downtown, restaurants, schools, and major roadways, this home offers excellent long-term potential.

Key facts

• 3,400 sq ft lot
• Garage
• Built 1923

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $365 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $77k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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-, 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); 99 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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 34% 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 $1k of equity ($587 loan paydown + $636 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 $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $85k implies a 236% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,259 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 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 1923 — 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: 1.43% ✓
• Cap rate: 11.45%
• Cash-on-cash: 18.42%
• DSCR: 1.82
• GRM: 5.8

CMA / ARV

• ARV (median comp): $99,776
• List price: $84,900
• Delta: -14.91%
• 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
541 Apple Ave	0.06mi	3/1.0	1,378 (+8%)	6mo	$125,000	$91	78
2437 Airport Hwy	0.19mi	3/2.0	1,190 (-6%)	6mo	$105,000	$88	72
414 Bender Dr	0.17mi	3/1.0	1,414 (+11%)	5mo	$93,000	$66	69
321 Mayberry St	0.34mi	3/1.5	1,362 (+7%)	6mo	$68,000	$50	65
256 Decatur St	0.40mi	3/2.0	1,364 (+7%)	1mo	$100,500	$74	64
226 Somerset St	0.49mi	3/1.0	1,186 (-7%)	5mo	$53,000	$45	62
812 National Ave	0.59mi	3/1.5	1,315 (+4%)	4mo	$105,000	$80	61
531 Shasta Dr	0.47mi	3/1.0	1,143 (-10%)	5mo	$53,000	$46	57
2837 Airport Hwy	0.54mi	3/2.0	1,386 (+9%)	3mo	$142,900	$103	54
1836 Finch St	0.67mi	3/2.0	1,188 (-6%)	3mo	$85,950	$72	52
537 Lynnhaven Dr	0.55mi	3/2.0	1,088 (-14%)	1mo	$150,000	$138	46
838 Wylie Ave	0.52mi	2/1.0 (-1)	1,104 (-13%)	6mo	$123,000	$111	44

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: 23.9%
• Equity multiple: 2.26×
• Total profit: $29,960
• Equity at exit: $27,882

10-year hold

• IRR: 29.9%
• Equity multiple: 5.15×
• Total profit: $98,643
• Equity at exit: $36,215

Cash invested: $23,772 (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: 99
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,214 high
• Mortgage (P&I): −$445
• Tax from tax record: −$114 /mo · $1,362/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $365

Break-even live

Break-even rent $752

Max offer price $84,900

Occupancy floor 65%

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
569 Colima Dr Toledo, OH	3.0	1.0	1253	$1,300	$1.04	23d	1	0.23mi
581 Colima Dr Toledo, OH	2.0	1.0	900	$1,100	$1.22	14d	1	0.24mi
619 Durango Dr Toledo, OH	3.0	1.0	1276	$1,350	$1.06	44d	1	0.31mi
2314 Airline Ave Toledo, OH	3.0	1.0	1123	$1,478	$1.32	23d	1	0.33mi
307 Danberry St Toledo, OH	2.0	1.0	988	$950	$0.96	44d	1	0.33mi
825 Brighton Ave Toledo, OH	3.0	1.0	1533	$1,350	$0.88	44d	1	1.03mi
523 Nicholas St Toledo, OH	3.0	1.0	1290	$1,350	$1.05	14d	1	1.09mi
705 Nicholas St Toledo, OH	2.0	1.0	1037	$900	$0.87	44d	1	1.10mi
532 Carlton St Toledo, OH	3.0	1.0	1130	$1,050	$0.93	44d	1	1.12mi
724 Spencer St Toledo, OH	3.0	1.5	1127	$1,100	$0.98	44d	1	1.18mi
1785 Tecumseh St Toledo, OH	2.0	1.0	930	$900	$0.97	44d	1	1.22mi
319 N Detroit Ave Toledo, OH	3.0	1.0	1341	$845	$0.63	44d	1	1.25mi
1510 Watova Rd Toledo, OH	3.0	1.0	1197	$1,495	$1.25	21d	1	1.27mi
1418 Colburn St Toledo, OH	3.0	1.0	992	$1,200	$1.21	14d	1	1.28mi
3406 Gibraltar Heights Dr Toledo, OH	2.0	1.0–2.0	678	$919	$1.35	14d	14	1.33mi
3349 Airport Hwy Toledo, OH	1.0–2.0	1.0	791	$885	$1.12	44d	1	1.33mi
2802 Broadway St Unit 1 Toledo, OH	3.0	1.0	1650	$1,400	$0.85	14d	1	1.34mi
2594 Broadway St Toledo, OH	2.0	1.0	1076	$825	$0.77	44d	1	1.39mi
3348 Arlington Ave Apt 10 Toledo, OH	2.0	1.0	900	$795	$0.88	44d	1	1.39mi
915 Woodstock Ave Toledo, OH	3.0	1.5	1500	$1,100	$0.73	23d	1	1.41mi
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	44d	1	1.41mi
1255 S Byrne Rd Toledo, OH	1.0–3.0	1.0–2.0	1080	$1,529	$1.42	14d	1	1.43mi
916 S Byrne Rd Toledo, OH	2.0	1.0	900	$899	$1.00	21d	1	1.47mi

Listing history 22 events

1. 2026-06-09
   status $84,900 Pending 102 DOM
2. 2026-06-08
   days on market $84,900 Contingent 102 DOM
3. 2026-06-07
   days on market $84,900 Contingent 101 DOM
4. 2026-06-05
   days on market $84,900 Contingent 98 DOM
5. 2026-06-03
   days on market $84,900 Contingent 97 DOM
6. 2026-06-02
   days on market $84,900 Contingent 96 DOM
7. 2026-06-01
   days on market $84,900 Contingent 95 DOM
8. 2026-05-31
   days on market $84,900 Contingent 94 DOM
9. 2026-05-30
   statusdays on market $84,900 Contingent 93 DOM
10. 2026-05-05
    status Active 619-char remark

    Show marketing remark (619 chars)

    Strong income producing single family home. Long standing tenant on $950/mo lease. Well maintained 3/bed 1/bath in South Toledo. This home offers a comfortable and functional layout with a spacious living room, an easy-flow dining area, and a kitchen with space for everyday use. The bedrooms are nicely sized, and the home has been thoughtfully kept. Updates include new roof (2017) and new furnace (2017). Detached garage offers additional parking space, with electricity available. Conveniently located minutes from downtown, restaurants, schools, and major roadways, this home offers excellent long-term potential.

11. 2026-05-01
    historical Contingent 619-char remark

    Show marketing remark (619 chars)

    Strong income producing single family home. Long standing tenant on $950/mo lease. Well maintained 3/bed 1/bath in South Toledo. This home offers a comfortable and functional layout with a spacious living room, an easy-flow dining area, and a kitchen with space for everyday use. The bedrooms are nicely sized, and the home has been thoughtfully kept. Updates include new roof (2017) and new furnace (2017). Detached garage offers additional parking space, with electricity available. Conveniently located minutes from downtown, restaurants, schools, and major roadways, this home offers excellent long-term potential.

12. 2026-04-20
    price $84,900 619-char remark

    Show marketing remark (619 chars)

    Strong income producing single family home. Long standing tenant on $950/mo lease. Well maintained 3/bed 1/bath in South Toledo. This home offers a comfortable and functional layout with a spacious living room, an easy-flow dining area, and a kitchen with space for everyday use. The bedrooms are nicely sized, and the home has been thoughtfully kept. Updates include new roof (2017) and new furnace (2017). Detached garage offers additional parking space, with electricity available. Conveniently located minutes from downtown, restaurants, schools, and major roadways, this home offers excellent long-term potential.

13. 2026-04-09
    status Active 619-char remark

    Show marketing remark (619 chars)

    Strong income producing single family home. Long standing tenant on $950/mo lease. Well maintained 3/bed 1/bath in South Toledo. This home offers a comfortable and functional layout with a spacious living room, an easy-flow dining area, and a kitchen with space for everyday use. The bedrooms are nicely sized, and the home has been thoughtfully kept. Updates include new roof (2017) and new furnace (2017). Detached garage offers additional parking space, with electricity available. Conveniently located minutes from downtown, restaurants, schools, and major roadways, this home offers excellent long-term potential.

14. 2026-04-06
    historical Contingent 619-char remark

    Show marketing remark (619 chars)

    Strong income producing single family home. Long standing tenant on $950/mo lease. Well maintained 3/bed 1/bath in South Toledo. This home offers a comfortable and functional layout with a spacious living room, an easy-flow dining area, and a kitchen with space for everyday use. The bedrooms are nicely sized, and the home has been thoughtfully kept. Updates include new roof (2017) and new furnace (2017). Detached garage offers additional parking space, with electricity available. Conveniently located minutes from downtown, restaurants, schools, and major roadways, this home offers excellent long-term potential.

15. 2026-02-26
    listed $89,900 Active 619-char remark

    Show marketing remark (619 chars)

    Strong income producing single family home. Long standing tenant on $950/mo lease. Well maintained 3/bed 1/bath in South Toledo. This home offers a comfortable and functional layout with a spacious living room, an easy-flow dining area, and a kitchen with space for everyday use. The bedrooms are nicely sized, and the home has been thoughtfully kept. Updates include new roof (2017) and new furnace (2017). Detached garage offers additional parking space, with electricity available. Conveniently located minutes from downtown, restaurants, schools, and major roadways, this home offers excellent long-term potential.

16. 2026-02-06
    historical $89,900 619-char remark

    Show marketing remark (619 chars)

    Strong income producing single family home. Long standing tenant on $950/mo lease. Well maintained 3/bed 1/bath in South Toledo. This home offers a comfortable and functional layout with a spacious living room, an easy-flow dining area, and a kitchen with space for everyday use. The bedrooms are nicely sized, and the home has been thoughtfully kept. Updates include new roof (2017) and new furnace (2017). Detached garage offers additional parking space, with electricity available. Conveniently located minutes from downtown, restaurants, schools, and major roadways, this home offers excellent long-term potential.

17. 2015-12-30
    soldstatus $25,300 364-char remark

    Show marketing remark (364 chars)

    Real Estate Auction! Friday, December 18, 2015 at 10:00 am. Bowsher HS / Burroughs Elementary! Home has a fabulous interior, all appliances, 3 beds, basement, and garage. Long-term owner occupied home that is move in ready, updates in last 4 - 10 years including roof, electrical, windows, water heater, furnace, and water lines. Must sell and ideal investor home.

18. 2015-12-01
    historical
19. 2015-11-30
    listed $25,300 364-char remark

    Show marketing remark (364 chars)

    Real Estate Auction! Friday, December 18, 2015 at 10:00 am. Bowsher HS / Burroughs Elementary! Home has a fabulous interior, all appliances, 3 beds, basement, and garage. Long-term owner occupied home that is move in ready, updates in last 4 - 10 years including roof, electrical, windows, water heater, furnace, and water lines. Must sell and ideal investor home.

20. 2015-10-13
    listed $29,900
21. 2015-10-01
    historical
22. 2014-09-15
    listed $34,900

ⓘ 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: $1,362 · $114/mo
• Projected year-2 tax: $1,362 · $114/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: $14,567
• − Mortgage interest: −$4,756
• − Property taxes: −$1,362
• − Insurance: −$424
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$2,470
• Taxable income: $3,224
• Est. tax owed @ 24.0%: −$774
• After-tax cash flow: $3,605/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

+143.3% since first listed

13 events — show timeline

• 2026-05-05 Relisted — NORIS
• 2026-05-01 Contingent — NORIS
• 2026-04-20 Price Changed $84,900 NORIS
• 2026-04-09 Relisted — NORIS
• 2026-04-06 Contingent — NORIS
• 2026-02-26 Listed $89,900 NORIS
• 2026-02-06 Coming Soon $89,900 NORIS
• 2015-12-30 Sold (MLS) $25,300 NORIS
• 2015-12-01 Listing Removed — NORIS
• 2015-11-30 Listed $25,300 NORIS
• 2015-10-13 Listed $29,900 NORIS
• 2015-10-01 Listing Removed — NORIS
• 2014-09-15 Listed $34,900 NORIS

Property tax history

+7.3%/yr

Latest (2025): $1,362 · -9.5% YoY. Source: county tax records.