1464 Sunshine St · Oregon, OH 43616

$110,000

3 bd · 3.0 ba · 1,512 sqft · MultiFamily public records · 43 Days on market

Built 1897 7,500 sqft lot Est $118k · 7% under

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Why this score? — see what drove the B 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 +10.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.6/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Welcome to a fantastic investment opportunity in the Oregon School District! This property boasts incredible potential as a long-termrental, offering the perfect chance to expand your real estate portfolio. This 3-unit property offers a unique chance at this package dealwith its neighboring property! Long-term tenants already in place to provide a steady stream of rental income.

Key facts

• 7,500 sq ft lot
• 4 parking spots
• Built 1897

Property features AI

Finance

• Financial info: Triplex with 3 total units (2 leased, 1 vacant); Tenant pays other utilities; owner pays electricity, gas, sewer, and water

Exterior

• Parking: Assigned parking; Concrete driveway; Other parking; Total 4 parking spaces
• Utilities: Electricity connected; Public water; Sanitary sewer connected
• Home design: Residential income property; Triplex; One story
• Construction: Brick and wood siding construction; Crawl space and slab foundation
• Exterior features: Shingle roof; Level lot

Interior

• Kitchen: Refrigerator; Water heater
• Flooring: Laminate
• Heating & cooling: Propane heating; Radiator heating; Has heating
• Interior features: Other
• Laundry & utility: Other

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1-bath units multifamily listed at $110k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $465/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.5% vs local median 3.2% in Oregon — 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 76/100 on livability (#210 in OH, #3,303 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, amenities F, commute F.
• Oregon City (rural): math 48% / reading 59% proficiency, ranked #384 of 656 in OH (top 58%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Coy Elementary School (math 67% / reading 57%, grade B, #590 of 1,584 statewide, top 41%, 323 students, 47% FRL); Clay High School (math 27% / reading 69%, grade D, #429 of 781 statewide, top 55%, 1,139 students, 39% FRL).
• Market conditions: 79 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• This rent runs 40% of the median local income ($82k/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 $761 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 4y 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 $62k; list at $110k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1897 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. Crime grade is D 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: 2.48% ✓
• Cap rate: 21.51%
• Cash-on-cash: 54.34%
• DSCR: 3.42
• GRM: 3.4

CMA / ARV

• ARV (median comp): $118,378
• List price: $110,000
• Delta: -7.08%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 52.5%
• Equity multiple: 3.31×
• Total profit: $71,041
• Equity at exit: $16,401

10-year hold

• IRR: 57.8%
• Equity multiple: 6.73×
• Total profit: $176,407
• Equity at exit: $9,511

Cash invested: $30,800 (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 43616

• Home prices YoY: -20.9%
• Active inventory: 79
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,729 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$139 /mo · $1,663/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$573
• Net cashflow: $1,395

Break-even live

Break-even rent $964

Max offer price $110,000

Occupancy floor 44%

Sensitivity live

Price	-10% $1,457	-5% $1,426	+0% $1,395	+5% $1,363	+10% $1,332
Rent	-10% $1,179	-5% $1,287	+0% $1,395	+5% $1,502	+10% $1,610
Rate	-1.0pp $1,450	-0.5pp $1,423	base $1,395	+0.5pp $1,366	+1.0pp $1,337

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$2,730
Total (3 units)			$2,729

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1106 White St Toledo, OH	3.0	1.0	1200	$1,015	$0.85	14d	1	0.90mi
1505 Navarre Ave Toledo, OH	3.0	1.0	1331	$1,145	$0.86	44d	1	1.02mi
2129 Nevada St Toledo, OH	3.0	1.0	1352	$1,200	$0.89	14d	1	1.10mi
908 Forsythe St Unit Downstairs Toledo, OH	3.0	1.0	1164	$950	$0.82	44d	1	1.15mi
908 Forsythe St Unit Upstairs Toledo, OH	2.0	1.0	1164	$900	$0.77	14d	1	1.16mi
921 Berry St Toledo, OH	4.0	1.0	1204	$1,350	$1.12	14d	1	1.17mi
1537 Remington St Toledo, OH	3.0	1.0	1064	$1,095	$1.03	44d	1	1.18mi
1614 Nevada St Toledo, OH	2.0	1.0	1172	$1,000	$0.85	21d	1	1.18mi
606 Earl St Toledo, OH	3.0	1.5	1700	$1,150	$0.68	21d	1	1.21mi
2074 Starr Ave Toledo, OH	3.0	1.0	1115	$1,025	$0.92	24d	1	1.35mi

Listing history 38 events

1. 2026-06-18
   days on market $110,000 Active 43 DOM
2. 2026-06-17
   days on market $110,000 Active 42 DOM
3. 2026-06-16
   days on market $110,000 Active 41 DOM
4. 2026-06-15
   days on market $110,000 Active 40 DOM
5. 2026-06-14
   days on market $110,000 Active 38 DOM
6. 2026-06-13
   days on market $110,000 Active 37 DOM
7. 2026-06-10
   days on market $110,000 Active 35 DOM
8. 2026-06-09
   days on market $110,000 Active 34 DOM
9. 2026-06-08
   days on market $110,000 Active 33 DOM
10. 2026-06-07
    days on market $110,000 Active 32 DOM
11. 2026-06-03
    days on market $110,000 Active 28 DOM
12. 2026-06-02
    days on market $110,000 Active 27 DOM
13. 2026-06-01
    days on market $110,000 Active 26 DOM
14. 2026-05-31
    days on market $110,000 Active 25 DOM
15. 2026-05-30
    days on market $110,000 Active 24 DOM
16. 2026-05-14
    historical Contingent 834-char remark
17. 2026-05-06
    listed $110,000 Active 834-char remark
18. 2026-04-30
    historical
19. 2026-02-27
    listed $260,000 Active
20. 2025-10-14
    price $62,500

    Show marketing remark (381 chars)

    Welcome to a fantastic investment opportunity in the Oregon School District! This property boasts incredible potential as a long-termrental, offering the perfect chance to expand your real estate portfolio. This 3-unit property offers a unique chance at this package dealwith its neighboring property! Long-term tenants already in place to provide a steady stream of rental income.

21. 2025-09-21
    historical
22. 2025-05-19
    status Active
23. 2025-05-12
    historical Contingent
24. 2025-03-21
    listed $70,000 Active
25. 2023-04-25
    soldstatus $62,500
26. 2023-04-21
    soldstatus $62,500 Closed

    Show marketing remark (381 chars)

    Welcome to a fantastic investment opportunity in the Oregon School District! This property boasts incredible potential as a long-termrental, offering the perfect chance to expand your real estate portfolio. This 3-unit property offers a unique chance at this package dealwith its neighboring property! Long-term tenants already in place to provide a steady stream of rental income.

27. 2023-04-17
    status Pending

    Show marketing remark (381 chars)

    Welcome to a fantastic investment opportunity in the Oregon School District! This property boasts incredible potential as a long-termrental, offering the perfect chance to expand your real estate portfolio. This 3-unit property offers a unique chance at this package dealwith its neighboring property! Long-term tenants already in place to provide a steady stream of rental income.

28. 2023-04-10
    historical Contingent

    Show marketing remark (381 chars)

    Welcome to a fantastic investment opportunity in the Oregon School District! This property boasts incredible potential as a long-termrental, offering the perfect chance to expand your real estate portfolio. This 3-unit property offers a unique chance at this package dealwith its neighboring property! Long-term tenants already in place to provide a steady stream of rental income.

29. 2023-03-27
    listed $75,000 Active

    Show marketing remark (381 chars)

    Welcome to a fantastic investment opportunity in the Oregon School District! This property boasts incredible potential as a long-termrental, offering the perfect chance to expand your real estate portfolio. This 3-unit property offers a unique chance at this package dealwith its neighboring property! Long-term tenants already in place to provide a steady stream of rental income.

30. 2023-03-22
    status Active
31. 2023-03-22
    historical
32. 2023-03-10
    historical Contingent
33. 2023-02-27
    status Active
34. 2022-12-06
    historical Contingent
35. 2022-12-04
    price $75,000
36. 2022-11-03
    price $99,900
37. 2022-09-20
    price $125,000
38. 2022-09-19
    listed $99,900 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: $1,663 · $139/mo
• Projected year-2 tax: $1,690 · $141/mo
• Expected delta: +$26/yr (+$2/mo · 1.6%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,748
• − Mortgage interest: −$6,162
• − Property taxes: −$1,663
• − Insurance: −$550
• − Repairs & maintenance: −$2,620
• − Management: −$2,620
• − Depreciation: −$3,200
• Taxable income: $15,933
• Est. tax owed @ 24.0%: −$3,824
• After-tax cash flow: $12,911/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: Oregon City
• NCES district ID: 3904460
• Math proficiency: 48% ▼ -20.00%
• Reading proficiency: 59% ▼ -7.00%
• Median HH income: $53,972
• Composite: 46.03/100
• National rank: #2524
• State rank: #384 of 656 in OH

Livability — Oregon

• Score: 76/100
• State rank: #210
• US rank: #3303

Category grades

Amenities F Commute F Cost of living A+ Crime D Employment C+ Housing A+ Health & safety A+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oregon, OH
• County: Lucas County · 380,724 people
• City population: 20,309
• Metro: Toledo, OH
• Population (ZIP): 20,309
• Household income: $81,829
• Rent vs Own: 24.1% rent · 75.9% own
• Severe rent burden: 395.0

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 8% Two or more races 6% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 8% Lithuanian 6% Slovak 2%
• Foreign-born: 3% · Canada, Vietnam, China
• Languages at home: 95% English-only · Spanish 2% Vietnamese 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: ▼ -56.90%
• Current HPI: 214.6328
• 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

+10.1% since first listed

24 events — show timeline

• 2026-05-24 Relisted — NORIS
• 2026-05-14 Contingent — NORIS
• 2026-05-06 Listed $110,000 NORIS
• 2026-04-30 Listing Removed — NORIS
• 2026-02-27 Listed $260,000 NORIS
• 2025-10-14 Price Changed $62,500 NORIS
• 2025-09-21 Listing Removed — NORIS
• 2025-05-19 Relisted — NORIS
• 2025-05-12 Contingent — NORIS
• 2025-03-21 Listed $70,000 NORIS
• 2023-04-25 Sold (Public Records) $62,500 Public Records
• 2023-04-21 Sold (MLS) $62,500 NORIS
• 2023-04-17 Pending — NORIS
• 2023-04-10 Contingent — NORIS
• 2023-03-27 Listed $75,000 NORIS
• 2023-03-22 Relisted — NORIS
• 2023-03-22 Listing Removed — NORIS
• 2023-03-10 Contingent — NORIS
• 2023-02-27 Relisted — NORIS
• 2022-12-06 Contingent — NORIS
• 2022-12-04 Price Changed $75,000 NORIS
• 2022-11-03 Price Changed $99,900 NORIS
• 2022-09-20 Price Changed $125,000 NORIS
• 2022-09-19 Listed $99,900 NORIS

Property tax history

+3.1%/yr

Latest (2025): $1,663 · +4.6% YoY. Source: county tax records.