2867 N Detroit Ave · Toledo, OH 43610

$24,900

4 bd · 2.0 ba · 2,128 sqft · MultiFamily public records · 113 Days on market

Built 1901 3,500 sqft lot

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Why this score? — see what drove the D+ 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 +7.5/15.0
• Appreciation +7.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Multi-family units

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

Listing remarks MLS

Great investment opportunity at 2867 N. Detroit! This spacious duplex offers over 2,000 square feet and is a true blank slate ready for a full renovation, making it ideal for investors or rehabbers looking to add value. Both units feature large living areas and nicely sized bedrooms with strong rental potential once updated, and some building materials will remain with the property to help jump-start your project. Conveniently located directly across from Glenwood Elementary School, just minutes from Ottawa Park, and a short drive to Downtown Toledo, this property offers a prime location with easy access to parks, schools, and city amenities—bring your vision and unlock the potential!

Key facts

• Easy access
• Full renovation
• Large living areas

Tags

• FULL RENOVATION
• LARGE LIVING AREAS
• STRONG RENTAL POTENTIAL
• PRIME LOCATION
• EASY ACCESS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $25k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $705/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• Recommended offer: $23k (9.0% below list) — sets the bar for market timing.
• Cap rate 74.3% 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: 30 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).
• At $2,020/mo this rent would consume 63% of the median local household income ($38k/yr) (locally 16% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $1k of equity ($172 loan paydown + $1k appreciation (4.7% 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 (4.7% appreciation + 3.0% 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 113 days — a 9% lower offer ($23k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $18k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $22,659 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% 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 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 8.11% ✓
• Cap rate: 74.27%
• Cash-on-cash: 242.78%
• DSCR: 11.80
• GRM: 1.0

CMA / ARV

• ARV (median comp): $74,056
• List price: $24,900
• Delta: -66.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
625 Arcadia Ave	0.35mi	4/2.0	2,242 (+5%)	14mo	$64,000	$29	63
2434 Lawrence Ave	0.50mi	4/2.0	1,965 (-8%)	6mo	$94,000	$48	59
2369 Maplewood Ave	0.57mi	5/2.0 (+1)	2,202 (+4%)	14mo	$60,000	$27	51
1301 Goodale Ave	0.68mi	4/2.0	2,000 (-6%)	16mo	$62,000	$31	45
1320 Goodale Ave	0.70mi	4/2.0	2,292 (+8%)	16mo	$45,000	$20	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.65% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 14.64×
• Total profit: $95,118
• Equity at exit: $13,580

10-year hold

• IRR: —
• Equity multiple: 31.15×
• Total profit: $210,194
• Equity at exit: $23,010

Cash invested: $6,972 (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 43610

• Home prices YoY: 3.8%
• Active inventory: 30
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $2,020 high
• Mortgage (P&I): −$131
• Tax from tax record: −$44 /mo · $532/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $1,411

Break-even live

Break-even rent $234

Max offer price $24,900

Occupancy floor 25%

Sensitivity live

Price	-10% $1,425	-5% $1,418	+0% $1,411	+5% $1,404	+10% $1,396
Rent	-10% $1,251	-5% $1,331	+0% $1,411	+5% $1,490	+10% $1,570
Rate	-1.0pp $1,423	-0.5pp $1,417	base $1,411	+0.5pp $1,404	+1.0pp $1,398

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,020
Total (2 units)			$2,020

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2907 Rockwood Pl Toledo, OH	3.0	1.0	1494	$1,100	$0.74	15d	1	0.23mi
614 Cadillac Ct Toledo, OH	3.0	1.0	1581	$1,075	$0.68	24d	1	0.46mi
610 Cadillac Ct Toledo, OH	3.0	1.0	1409	$1,050	$0.75	24d	1	0.46mi
1436 Palmetto Ave Toledo, OH	3.0	1.0	1678	$1,400	$0.83	24d	1	0.82mi
119 Winthrop St Toledo, OH	3.0	1.0	1734	$1,350	$0.78	24d	1	0.97mi
38 E Central Ave Toledo, OH	5.0	2.0	1510	$1,500	$0.99	44d	1	0.98mi
3905 Peru St Toledo, OH	4.0	3.0	1548	$1,300	$0.84	22d	1	1.16mi
1477 W Sylvania Ave Toledo, OH	3.0	1.0	1570	$1,250	$0.80	44d	1	1.37mi
2621 Chestnut St Toledo, OH	3.0	1.0	1444	$1,250	$0.87	44d	1	1.47mi
4120 Parrakeet Ave Toledo, OH	3.0	2.0	1410	$1,450	$1.03	44d	1	1.48mi

Listing history 18 events

1. 2026-06-18
   days on market $24,900 Active 113 DOM
2. 2026-06-17
   days on market $24,900 Active 112 DOM
3. 2026-06-16
   days on market $24,900 Active 111 DOM
4. 2026-06-15
   days on market $24,900 Active 110 DOM
5. 2026-06-14
   days on market $24,900 Active 108 DOM
6. 2026-06-10
   days on market $24,900 Active 105 DOM
7. 2026-06-09
   days on market $24,900 Active 104 DOM
8. 2026-06-08
   days on market $24,900 Active 103 DOM
9. 2026-06-07
   days on market $24,900 Active 102 DOM
10. 2026-06-05
    days on market $24,900 Active 99 DOM
11. 2026-06-03
    days on market $24,900 Active 98 DOM
12. 2026-06-02
    days on market $24,900 Active 97 DOM
13. 2026-06-01
    days on market $24,900 Active 96 DOM
14. 2026-05-31
    days on market $24,900 Active 95 DOM
15. 2026-05-30
    days on market $24,900 Active 94 DOM
16. 2026-03-24
    price $27,000 699-char remark

    Show marketing remark (699 chars)

    Great investment opportunity at 2867 N. Detroit! This spacious duplex offers over 2,000 square feet and is a true blank slate ready for a full renovation, making it ideal for investors or rehabbers looking to add value. Both units feature large living areas and nicely sized bedrooms with strong rental potential once updated, and some building materials will remain with the property to help jump-start your project. Conveniently located directly across from Glenwood Elementary School, just minutes from Ottawa Park, and a short drive to Downtown Toledo, this property offers a prime location with easy access to parks, schools, and city amenities—bring your vision and unlock the potential!

17. 2026-02-25
    listed $30,000 Active 699-char remark

    Show marketing remark (699 chars)

    Great investment opportunity at 2867 N. Detroit! This spacious duplex offers over 2,000 square feet and is a true blank slate ready for a full renovation, making it ideal for investors or rehabbers looking to add value. Both units feature large living areas and nicely sized bedrooms with strong rental potential once updated, and some building materials will remain with the property to help jump-start your project. Conveniently located directly across from Glenwood Elementary School, just minutes from Ottawa Park, and a short drive to Downtown Toledo, this property offers a prime location with easy access to parks, schools, and city amenities—bring your vision and unlock the potential!

18. 1985-11-01
    soldstatus $18,000

ⓘ 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: $532 · $44/mo
• Projected year-2 tax: $532 · $44/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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,240
• − Mortgage interest: −$1,395
• − Property taxes: −$532
• − Insurance: −$124
• − Repairs & maintenance: −$1,939
• − Management: −$1,939
• − Depreciation: −$724
• Taxable income: $17,586
• Est. tax owed @ 24.0%: −$4,221
• After-tax cash flow: $12,706/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 · 437,818 people
• City population: 280,811
• Metro: Toledo, OH
• Population (ZIP): 4,057
• Household income: $38,369
• Rent vs Own: 41.4% rent · 58.6% own
• Severe rent burden: 15.7

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: Majority Black (64%)
• Race & ethnicity: Black 64% White 29% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Romanian 5% Iranian 3% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

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: ▲ 4.65%
• Current HPI: 126.1457
• Rent YoY: —
• Metro: —
• 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

+50.0% since first listed

3 events — show timeline

• 2026-03-24 Price Changed $27,000 NORIS
• 2026-02-25 Listed $30,000 NORIS
• 1985-11-01 Sold (Public Records) $18,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $532 · -19.4% YoY. Source: county tax records.