924 Blum St · Toledo, OH 43607

$25,000

2 bd · 1.0 ba · 925 sqft · SingleFamily public records · 141 Days on market

Built 1877 2,500 sqft lot $27/sqft · 30% below area Est $36k · 30% under ↓ 39% since listing

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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
• 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
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom home with living room, dining room, den, 1.5 baths, basement and more. Call today to schedule your appointment to see all the possibility's this home offers.

Key facts

• 2,500 sq ft lot
• Built 1877
• Listed 141 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $682 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Cap rate 39.0% 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; 30 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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 32% 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 $173 of loan paydown is wiped out by about $750 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 141 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1877 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $22,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 141 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 1877 — 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: 4.40% ✓
• Cap rate: 39.05%
• Cash-on-cash: 116.98%
• DSCR: 6.20
• GRM: 1.9

CMA / ARV

• ARV (median comp): $35,624
• List price: $25,000
• Delta: -29.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 Wellington St	0.41mi	2/1.0	859 (-7%)	3mo	$4,500	$5	66
1338 Pinewood Ave	0.64mi	2/1.0	900 (-3%)	17mo	$9,000	$10	51
1350 Pere St	0.73mi	2/1.0	936 (+1%)	23mo	$27,500	$29	44
58 City Park	0.66mi	3/1.0 (+1)	1,008 (+9%)	7mo	$45,000	$45	44
1524 Vance St	0.75mi	3/1.0 (+1)	920 (-0%)	22mo	$33,000	$36	41
1041 Whittier St	0.63mi	3/1.0 (+1)	968 (+5%)	21mo	$55,000	$57	41
566 Palmwood Ave	0.68mi	3/1.0 (+1)	1,036 (+12%)	12mo	$55,000	$53	33

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: —
• Equity multiple: 7.46×
• Total profit: $45,249
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 18.42×
• Total profit: $121,926
• Equity at exit: $2,162

Cash invested: $7,000 (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: 1.9×

Monthly cashflow live

• Estimated rent: $1,100 high
• Mortgage (P&I): −$131
• Tax from tax record: −$45 /mo · $541/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $682

Break-even live

Break-even rent $236

Max offer price $25,000

Occupancy floor 33%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1026 Oakwood Ave Toledo, OH	2.0	1.0	1100	$850	$0.77	43d	1	0.67mi
400 Nebraska Ave Toledo, OH	1.0	1.0	664	$1,129	$1.70	14d	1	0.78mi
223 Charles St Toledo, OH	2.0	1.0	612	$875	$1.43	43d	1	0.78mi
1825 Collingwood Blvd Toledo, OH	1.0	1.0	710	$850	$1.20	14d	1	0.95mi
142 23rd St Toledo, OH	1.0	1.0–1.5	508	$1,395	$2.75	43d	1	0.99mi
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	43d	1	1.00mi
1785 Tecumseh St Toledo, OH	2.0	1.0	930	$900	$0.97	43d	1	1.07mi
1521 Emma St Unit LABS 1521 Emma St, B 43051619729 Toledo, OH	1.0	1.0	975	$900	$0.92	43d	1	1.10mi
2115 Collingwood Blvd Toledo, OH	2.0	1.0	676	$765	$1.13	23d	1	1.20mi
34 S Erie St Unit 209 Toledo, OH	1.0	1.0	930	$1,375	$1.48	23d	1	1.22mi
15 S Ontario St Apt 409 Toledo, OH	1.0	1.0	984	$1,695	$1.72	43d	1	1.23mi
34 S Erie St Unit 611 Toledo, OH	1.0	1.0	990	$1,300	$1.31	43d	1	1.23mi
34 S Erie St Unit 202 Toledo, OH	1.0	1.0	894	$1,275	$1.43	23d	1	1.23mi
34 S Erie St Unit 107 Toledo, OH	1.0	1.0	1103	$1,300	$1.18	23d	1	1.23mi
34 S Erie St Unit 409 Toledo, OH	1.0	1.0	930	$1,375	$1.48	43d	1	1.23mi
34 S Erie St Apt 602 Toledo, OH	1.0	1.0	894	$1,315	$1.47	43d	1	1.23mi
827 Colburn St Toledo, OH	2.0	1.0	1092	$750	$0.69	43d	1	1.25mi
1418 Colburn St Toledo, OH	3.0	1.0	992	$1,200	$1.21	14d	1	1.26mi
1 S Erie St Toledo, OH	1.0	1.0	846	$1,410	$1.67	14d	1	1.30mi
416 Maumee Ave Unit D Toledo, OH	1.0	1.0	622	$475	$0.76	43d	1	1.32mi
425 W Bancroft St Toledo, OH	1.0	1.0	711	$725	$1.02	43d	1	1.32mi
409 W Bancroft St Toledo, OH	2.0	1.0	730	$880	$1.21	43d	1	1.33mi
1037 Orchard St Toledo, OH	2.0	1.0	696	$820	$1.18	21d	1	1.34mi
322 14th St Apt 203 Toledo, OH	3.0	1.5	1065	$1,000	$0.94	14d	1	1.34mi
332 14th St Unit 303 Toledo, OH	3.0	1.5	1040	$1,000	$0.96	43d	1	1.35mi
625 Virginia St Toledo, OH	2.0	1.0	1000	$850	$0.85	14d	1	1.37mi
625 Virginia St Toledo, OH	2.0	1.0	1000	$800	$0.80	43d	1	1.37mi
771 Orchard St Unit 7715 Toledo, OH	2.0	1.0	1086	$645	$0.59	23d	1	1.39mi
538 Nicholas St Unit B Toledo, OH	1.0	1.0	600	$600	$1.00	43d	1	1.39mi
244 Knower St Toledo, OH	3.0	1.0	1120	$995	$0.89	14d	1	1.47mi

Listing history 19 events

1. 2026-06-18
   days on market $25,000 Active 141 DOM
2. 2026-06-17
   days on market $25,000 Active 140 DOM
3. 2026-06-16
   days on market $25,000 Active 139 DOM
4. 2026-06-15
   days on market $25,000 Active 138 DOM
5. 2026-06-14
   days on market $25,000 Active 136 DOM
6. 2026-06-10
   days on market $25,000 Active 133 DOM
7. 2026-06-09
   days on market $25,000 Active 132 DOM
8. 2026-06-08
   days on market $25,000 Active 131 DOM
9. 2026-06-07
   days on market $25,000 Active 130 DOM
10. 2026-06-05
    days on market $25,000 Active 127 DOM
11. 2026-06-03
    days on market $25,000 Active 126 DOM
12. 2026-06-02
    days on market $25,000 Active 125 DOM
13. 2026-06-01
    days on market $25,000 Active 124 DOM
14. 2026-05-31
    days on market $25,000 Active 123 DOM
15. 2026-05-30
    days on market $25,000 Active 122 DOM
16. 2026-03-28
    price $25,000 167-char remark

    Show marketing remark (167 chars)

    3 bedroom home with living room, dining room, den, 1.5 baths, basement and more. Call today to schedule your appointment to see all the possibility's this home offers.

17. 2026-02-26
    price $30,000 167-char remark

    Show marketing remark (167 chars)

    3 bedroom home with living room, dining room, den, 1.5 baths, basement and more. Call today to schedule your appointment to see all the possibility's this home offers.

18. 2026-01-28
    listed $35,000 Active 167-char remark

    Show marketing remark (167 chars)

    3 bedroom home with living room, dining room, den, 1.5 baths, basement and more. Call today to schedule your appointment to see all the possibility's this home offers.

19. 2006-11-16
    soldstatus $41,000

ⓘ 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: $541 · $45/mo
• Projected year-2 tax: $541 · $45/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: $13,200
• − Mortgage interest: −$1,400
• − Property taxes: −$541
• − Insurance: −$125
• − Repairs & maintenance: −$1,056
• − Management: −$1,056
• − Depreciation: −$727
• Taxable income: $8,294
• Est. tax owed @ 24.0%: −$1,991
• After-tax cash flow: $6,198/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

-39.0% since first listed

4 events — show timeline

• 2026-03-28 Price Changed $25,000 NORIS
• 2026-02-26 Price Changed $30,000 NORIS
• 2026-01-28 Listed $35,000 NORIS
• 2006-11-16 Sold (Public Records) $41,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $541 · +1.5% YoY. Source: county tax records.