729 Chicago St · Toledo, OH 43611

$55,000

2 bd · 1.0 ba · 764 sqft · SingleFamily public records · 10 Days on market

Built 1923 3,100 sqft lot Est $45k · 22% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2 bedroom home is ready for a new owner. Brand new flooring and light fixtures. This home is a nice addition to an investment portfolio. Additional parking lot no longer for sale.

Key facts

• 3,100 sq ft lot
• Built 1923
• Listed 10 days

Property features AI

Exterior

• Parking: Asphalt driveway with alley access and additional parking
• Utilities: Electricity connected (100 Amp service); Natural gas available; Public water; Public sewer; Cable available; WiFi available
• Home design: Single-family house; One story; No shared/common walls; Entry level is main
• Construction: Aluminum siding; Block foundation; Full block basement
• Exterior features: Private yard; Front porch; Shingle roof

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Second bedroom on main level; All bedrooms on main level
• Flooring: Vinyl flooring
• Bathrooms: 1 bathroom
• Heating & cooling: Forced air heating
• Interior features: Five total rooms; Other interior features
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $371 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($926 rent vs $55k).
• Cap rate 14.4% 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: Riverside Elementary School (math 8% / reading 12%, grade F, #1,471 of 1,584 statewide, top 95%, 361 students, 0% FRL); Jesup W. Scott High School (math 8% / reading 17%, grade F, #726 of 781 statewide, top 94%, 736 students, 0% FRL) — zoned schools average 0% FRL vs 72% district-wide (72 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 64 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• This rent is only 18% of the median local income ($62k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 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 + 3.0% rent growth), your $15k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 24y 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 $45k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $55,000

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.68% ✓
• Cap rate: 14.39%
• Cash-on-cash: 28.90%
• DSCR: 2.29
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $45,076
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
729 Chicago St	0.00mi	2/1.0	764 (0%)	6mo	$45,000	$59	95
2422 N Ontario St	0.27mi	2/1.0	814 (+6%)	2mo	$55,000	$68	74
2816 N Michigan St	0.59mi	2/1.0	774 (+1%)	5mo	$64,362	$83	66
1823 Booth Ave	0.72mi	2/1.0	760 (-0%)	22mo	$20,900	$28	47
1631 N Erie St	0.72mi	2/1.0	856 (+12%)	4mo	$17,000	$20	43
1519 Clay Ave	0.70mi	2/1.0	704 (-8%)	19mo	$33,000	$47	39
1828 Homer Ave	0.75mi	2/1.0	850 (+11%)	17mo	$68,000	$80	32

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.3%
• Equity multiple: 1.96×
• Total profit: $14,713
• Equity at exit: $8,201

10-year hold

• IRR: 31.2%
• Equity multiple: 3.81×
• Total profit: $43,240
• Equity at exit: $4,755

Cash invested: $15,400 (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 43611

• Home prices YoY: -24.4%
• Active inventory: 64
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $926 high
• Mortgage (P&I): −$288
• Tax from tax record: −$50 /mo · $594/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $371

Break-even live

Break-even rent $457

Max offer price $55,000

Occupancy floor 55%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2023 N Erie St Toledo, OH	1.0	1.0	951	$685	$0.72	21d	1	0.23mi
1951 N Summit St Unit 2 Toledo, OH	2.0	1.0	835	$800	$0.96	44d	1	0.41mi
413 Sandusky St Toledo, OH	2.0	1.0	900	$775	$0.86	23d	1	0.42mi
2932 N Ontario St Toledo, OH	2.0	1.0	750	$750	$1.00	23d	1	0.72mi
2929 N Summit St Toledo, OH	1.0	1.0	650	$550	$0.85	14d	1	0.76mi
3405 Beaumont Dr Toledo, OH	2.0	1.0	855	$745	$0.87	14d	1	0.90mi
3439 Jeannette Ave Toledo, OH	3.0	1.0	1098	$1,095	$1.00	44d	1	0.99mi
2039 Genesee St Toledo, OH	1.0	1.0	660	$625	$0.95	44d	1	1.03mi
3474 Maher St Toledo, OH	2.0	1.0	736	$1,125	$1.53	44d	1	1.06mi
630 Mulberry St Toledo, OH	2.0	1.0	1000	$950	$0.95	23d	1	1.08mi
2514 York St Unit Back Toledo, OH	2.0	1.0	696	$850	$1.22	14d	1	1.17mi
1848 Genesee St Toledo, OH	3.0	1.0	1069	$1,300	$1.22	23d	1	1.18mi
1848 Genesee St Toledo, OH	3.0	1.0	1069	$1,200	$1.12	44d	1	1.18mi
21 Magyar St Toledo, OH	2.0	1.0	680	$1,050	$1.54	44d	1	1.25mi
2807 Chestnut St Unit 2 Toledo, OH	1.0	1.0	745	$495	$0.66	21d	1	1.25mi
1119 N Summit St Toledo, OH	1.0–2.0	1.0–2.0	1023	$1,750	$1.71	14d	2	1.30mi
420 Everett St Toledo, OH	2.0	1.0	1000	$975	$0.97	23d	1	1.32mi
524 E Hudson St Toledo, OH	2.0	1.0	1050	$825	$0.79	44d	1	1.36mi
329 Mettler St Toledo, OH	2.0	1.0	908	$975	$1.07	14d	1	1.40mi
128 Carbon St Toledo, OH	3.0	1.0	1113	$1,200	$1.08	23d	1	1.40mi
3563 E Manhattan Blvd Toledo, OH	1.0–2.0	1.0	707	$850	$1.20	14d	1	1.40mi
319 Dexter St Toledo, OH	2.0	1.0	990	$1,005	$1.02	44d	1	1.44mi
622 Whitlock Ave Toledo, OH	3.0	1.0	925	$1,195	$1.29	44d	1	1.47mi
227 Everett St Toledo, OH	2.0	1.0	914	$850	$0.93	44d	1	1.47mi
251 Graham St Apt A Toledo, OH	2.0	1.0	625	$850	$1.36	44d	1	1.47mi

Listing history 8 events

1. 2026-06-18
   days on market $55,000 Active 10 DOM
2. 2026-06-17
   days on market $55,000 Active 9 DOM
3. 2026-06-16
   days on market $55,000 Active 8 DOM
4. 2026-06-15
   days on market $55,000 Active 7 DOM
5. 2026-06-14
   days on market $55,000 Active 5 DOM
6. 2026-06-10
   days on market $55,000 Active 2 DOM
7. 2026-06-09
   remarks 151-char remark
8. 2026-06-09
   listed $55,000 Active 1 DOM

ⓘ 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: $594 · $50/mo
• Projected year-2 tax: $726 · $61/mo
• Expected delta: +$132/yr (+$11/mo · 22.2%)

ⓘ 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: $11,116
• − Mortgage interest: −$3,081
• − Property taxes: −$594
• − Insurance: −$275
• − Repairs & maintenance: −$889
• − Management: −$889
• − Depreciation: −$1,600
• Taxable income: $3,787
• Est. tax owed @ 24.0%: −$909
• After-tax cash flow: $3,542/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): 18,664
• Household income: $62,042
• Rent vs Own: 28.2% rent · 71.8% own
• Severe rent burden: 298.0

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: Predominantly White (77%)
• Race & ethnicity: White 77% Black 11% Hispanic / Latino 8% Two or more races 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 13% Lithuanian 5% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 2% 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: ▼ -79.15%
• Current HPI: 245.2841
• Rent YoY: —
• 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

+243.8% since first listed

15 events — show timeline

• 2026-06-08 Listed $55,000 NORIS
• 2026-01-06 Sold (Public Records) $45,000 Public Records
• 2025-12-18 Sold (MLS) $45,000 NORIS
• 2025-12-13 Pending — NORIS
• 2025-11-16 Listed $49,900 NORIS
• 2025-11-15 Listing Removed — NORIS
• 2025-11-05 Price Changed $58,900 NORIS
• 2025-10-18 Listed $59,900 NORIS
• 2003-11-28 Listing Removed — NORIS
• 2003-09-11 Listed $35,000 NORIS
• 2003-07-23 Listing Removed — NORIS
• 2003-05-20 Listed $35,000 NORIS
• 2003-04-21 Listing Removed — NORIS
• 2002-10-21 Listed $35,000 NORIS
• 1987-09-24 Sold (Public Records) $16,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $594 · +5.2% YoY. Source: county tax records.