3056 Chase St · Toledo, OH 43611

$28,000

2 bd · 2.0 ba · 1,196 sqft · MultiFamily public records · 23 Days on market

Built 1969 4,800 sqft lot ↓ 49% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

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

Durable Apartments- Nice Income. Can be purchased as a package deal with 509 New York , 3047 N Erie, ,319 Pontiac, 3129 Chase,, 3021 Chase, 3033 N Erie

Key facts

• Close to parks
• Close to schools
• Previously a duplex

Tags

• PREVIOUSLY A DUPLEX
• CLOSE TO DOWNTOWN
• CLOSE TO PARKS
• CLOSE TO SCHOOLS

Property features AI

Finance

• Financial info: Two-unit building (both units currently vacant); One building total; Tenants and owner responsibilities: other

Exterior

• Parking: Alley access; On-street parking; Concrete parking pad
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Residential income property (duplex); One-story; Single-level entry
• Construction: Brick construction; Shingle roof; Slab foundation; Built as a duplex
• Exterior features: Corner lot

Interior

• Kitchen: No appliances included
• Flooring: Laminate flooring
• Heating & cooling: Heating provided (type: other); Cooling provided (type: other)
• Interior features: Other interior features

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $28k.

Deal economics

• At list price, monthly cash flow is $516 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($899 rent vs $28k).
• Recommended offer: $28k (1.5% below list) — sets the bar for market timing.
• Cap rate 28.4% 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: Woodward High School (math 2% / reading 22%, grade F, #726 of 781 statewide, top 94%, 672 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; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 17% 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 $194 of loan paydown is wiped out by about $840 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 $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y 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 $8k; list at $28k implies a 273% gain — meaningful room to come down on a strong offer.

Recommended offer $27,580 (1.5% below list)

Questions for the listing agent

1. Built in 1969 — 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 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: 3.21% ✓
• Cap rate: 28.39%
• Cash-on-cash: 78.91%
• DSCR: 4.51
• GRM: 2.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 79.0%
• Equity multiple: 4.61×
• Total profit: $28,313
• Equity at exit: $4,175

10-year hold

• IRR: 82.5%
• Equity multiple: 9.55×
• Total profit: $66,994
• Equity at exit: $2,421

Cash invested: $7,840 (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: 2.6×

Monthly cashflow live

• Estimated rent: $899 high
• Mortgage (P&I): −$147
• Tax from tax record: −$36 /mo · $433/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $516

Break-even live

Break-even rent $246

Max offer price $28,000

Occupancy floor 38%

Sensitivity live

Price	-10% $531	-5% $523	+0% $516	+5% $508	+10% $500
Rent	-10% $445	-5% $480	+0% $516	+5% $551	+10% $587
Rate	-1.0pp $530	-0.5pp $523	base $516	+0.5pp $508	+1.0pp $501

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: $7,000
• Closing costs: $840
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2932 N Ontario St Toledo, OH	2.0	1.0	750	$750	$1.00	24d	1	0.19mi
413 Sandusky St Toledo, OH	2.0	1.0	900	$775	$0.86	24d	1	0.52mi
3563 E Manhattan Blvd Toledo, OH	1.0–2.0	1.0	707	$850	$1.20	14d	1	0.56mi
2023 N Erie St Toledo, OH	1.0	1.0	951	$685	$0.72	22d	1	0.99mi
1951 N Summit St Unit 2 Toledo, OH	2.0	1.0	835	$800	$0.96	44d	1	1.16mi
3405 Beaumont Dr Toledo, OH	2.0	1.0	855	$745	$0.87	14d	1	1.18mi
2453 Caledonia St Toledo, OH	2.0	1.0	1179	$810	$0.69	14d	1	1.21mi
3439 Jeannette Ave Toledo, OH	3.0	1.0	1098	$1,095	$1.00	44d	1	1.29mi
3474 Maher St Toledo, OH	2.0	1.0	736	$1,125	$1.53	44d	1	1.33mi
622 Whitlock Ave Toledo, OH	3.0	1.0	925	$1,195	$1.29	44d	1	1.43mi

Listing history 26 events

1. 2026-06-18
   days on market $28,000 Active 23 DOM
2. 2026-06-17
   days on market $28,000 Active 22 DOM
3. 2026-06-16
   days on market $28,000 Active 21 DOM
4. 2026-06-15
   days on market $28,000 Active 20 DOM
5. 2026-06-14
   days on market $28,000 Active 18 DOM
6. 2026-06-10
   days on market $28,000 Active 15 DOM
7. 2026-06-09
   days on market $28,000 Active 14 DOM
8. 2026-06-08
   days on market $28,000 Active 13 DOM
9. 2026-06-07
   days on market $28,000 Active 12 DOM
10. 2026-06-05
    days on market $28,000 Active 9 DOM
11. 2026-06-03
    days on market $28,000 Active 8 DOM
12. 2026-06-02
    days on market $28,000 Active 7 DOM
13. 2026-06-01
    days on market $28,000 Active 6 DOM
14. 2026-05-31
    days on market $28,000 Active 5 DOM
15. 2026-05-30
    days on market $28,000 Active 4 DOM
16. 2026-05-26
    listed $28,000 Active
17. 2025-10-13
    price $10,000 151-char remark

    Show marketing remark (151 chars)

    Durable Apartments- Nice Income. Can be purchased as a package deal with 509 New York , 3047 N Erie, ,319 Pontiac, 3129 Chase,, 3021 Chase, 3033 N Erie

18. 2020-09-15
    soldstatus $7,500
19. 2010-12-06
    soldstatus $50,000
20. 2010-11-30
    soldstatus $10,000 151-char remark

    Show marketing remark (151 chars)

    Durable Apartments- Nice Income. Can be purchased as a package deal with 509 New York , 3047 N Erie, ,319 Pontiac, 3129 Chase,, 3021 Chase, 3033 N Erie

21. 2010-05-22
    listed $14,000 151-char remark

    Show marketing remark (151 chars)

    Durable Apartments- Nice Income. Can be purchased as a package deal with 509 New York , 3047 N Erie, ,319 Pontiac, 3129 Chase,, 3021 Chase, 3033 N Erie

22. 2008-08-27
    soldstatus $80,850
23. 2008-08-25
    soldstatus $13,750 380-char remark

    Show marketing remark (380 chars)

    ABSOLUTE AUCTION!! MULTIUNIT INVESTMENT PROPERTIES(13 TWINPLEXES, 24-UNIT APT & 12-UNIT APARTMENT--62 TOTAL RENTABLE UNITS) EACH SELLING TO HIGH BIDDER. BUY ONE OR BUY THEM ALL! 12-UNIT & 24 UNIT APTSELL TOGETHER. THURSDAY, JULY 31ST, 6:00PM AT CLARION WESTGATE HOTEL. VISIT AUCTION WEBSITE FOR TERMS/DETAILS. VERY WELL MAINTAINED BRICK TWINPLEX. AN EXCELLENT OPPORTUNITY!

24. 2008-06-25
    listed $13,750 380-char remark

    Show marketing remark (380 chars)

    ABSOLUTE AUCTION!! MULTIUNIT INVESTMENT PROPERTIES(13 TWINPLEXES, 24-UNIT APT & 12-UNIT APARTMENT--62 TOTAL RENTABLE UNITS) EACH SELLING TO HIGH BIDDER. BUY ONE OR BUY THEM ALL! 12-UNIT & 24 UNIT APTSELL TOGETHER. THURSDAY, JULY 31ST, 6:00PM AT CLARION WESTGATE HOTEL. VISIT AUCTION WEBSITE FOR TERMS/DETAILS. VERY WELL MAINTAINED BRICK TWINPLEX. AN EXCELLENT OPPORTUNITY!

25. 2006-12-28
    historical
26. 2006-07-11
    listed $55,000

ⓘ 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: $433 · $36/mo
• Projected year-2 tax: $435 · $36/mo
• Expected delta: +$2/yr ($0/mo · 0.4%)

ⓘ 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: $10,787
• − Mortgage interest: −$1,568
• − Property taxes: −$433
• − Insurance: −$140
• − Repairs & maintenance: −$863
• − Management: −$863
• − Depreciation: −$815
• Taxable income: $6,105
• Est. tax owed @ 24.0%: −$1,465
• After-tax cash flow: $4,721/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

-49.1% since first listed

11 events — show timeline

• 2026-05-26 Listed $28,000 NORIS
• 2025-10-13 Price Changed $10,000 NORIS
• 2020-09-15 Sold (Public Records) $7,500 Public Records
• 2010-12-06 Sold (Public Records) $50,000 Public Records
• 2010-11-30 Sold (MLS) $10,000 NORIS
• 2010-05-22 Listed $14,000 NORIS
• 2008-08-27 Sold (Public Records) $80,850 Public Records
• 2008-08-25 Sold (MLS) $13,750 NORIS
• 2008-06-25 Listed $13,750 NORIS
• 2006-12-28 Listing Removed — NORIS
• 2006-07-11 Listed $55,000 NORIS

Property tax history

-5.1%/yr

Latest (2025): $433 · -54.3% YoY. Source: county tax records.