1303 Albert St · Toledo, OH 43605

$47,500

2 bd · 1.0 ba · 1,122 sqft · SingleFamily public records · 90 Days on market

Built 1920 3,400 sqft lot $42/sqft · 39% below area Est $77k · 39% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.8/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 Bed, 1 Bath rental property at a great price! Priced to sell fast!

Key facts

• 3,400 sq ft lot
• 2 parking spots
• Built 1920

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($984 rent vs $48k).
• Recommended offer: $45k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.7% 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 (+5.4%/yr); 117 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 30% of the median local income ($39k/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 $328 of loan paydown is wiped out by about $1k 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 + 5.4% rent growth), your $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,650 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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: 2.07% ✓
• Cap rate: 16.71%
• Cash-on-cash: 37.19%
• DSCR: 2.65
• GRM: 4.0

CMA / ARV

• ARV (median comp): $77,321
• List price: $47,500
• Delta: -38.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1127 Varland Ave	0.31mi	2/1.0	1,227 (+9%)	5mo	$28,050	$23	66
1723 Liberty St	0.30mi	2/1.0	954 (-15%)	5mo	$68,999	$72	57
1933 Watts Ave	0.57mi	3/1.0 (+1)	1,075 (-4%)	6mo	$176,500	$164	57
1455 Oak St	0.72mi	3/1.0 (+1)	1,116 (-0%)	5mo	$63,500	$57	56
835 Willow Ave	0.71mi	3/1.0 (+1)	1,109 (-1%)	7mo	$32,000	$29	54
1308 Halstead St	0.44mi	3/1.0 (+1)	1,246 (+11%)	6mo	$40,050	$32	51
2011 Oakdale Ave	0.68mi	2/1.0	1,008 (-10%)	1mo	$170,000	$169	51
1537 Akron St	0.66mi	3/2.0 (+1)	1,188 (+6%)	3mo	$131,500	$111	48
937 Berry St	0.51mi	3/1.0 (+1)	1,282 (+14%)	3mo	$63,000	$49	45
1129 Camden St	0.60mi	3/1.0 (+1)	1,260 (+12%)	4mo	$55,000	$44	44
1110 Camden St	0.57mi	3/1.0 (+1)	982 (-12%)	6mo	$67,000	$68	43
1813 Milroy St	0.66mi	2/1.0	960 (-14%)	4mo	$60,480	$63	41

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 · 5.37% rent growth · sell at horizon

5-year hold

• IRR: 35.9%
• Equity multiple: 2.58×
• Total profit: $20,996
• Equity at exit: $7,082

10-year hold

• IRR: 43.9%
• Equity multiple: 5.71×
• Total profit: $62,588
• Equity at exit: $4,107

Cash invested: $13,300 (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 43605

• Home prices YoY: -25.6%
• Rents YoY: 5.4%
• Active inventory: 117
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $984 high
• Mortgage (P&I): −$249
• Tax from tax record: −$96 /mo · $1,156/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $412

Break-even live

Break-even rent $462

Max offer price $47,500

Occupancy floor 53%

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: $11,875
• Closing costs: $1,425
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1205 Liberty St Unit NA Toledo, OH	3.0	1.0	864	$1,195	$1.38	44d	1	0.11mi
1537 Carlyle St Toledo, OH	2.0	1.0	800	$800	$1.00	23d	1	0.33mi
1106 White St Toledo, OH	3.0	1.0	1200	$1,015	$0.85	14d	1	0.45mi
1411 Oakmont St Toledo, OH	1.0	1.0	750	$800	$1.07	14d	1	0.47mi
908 Forsythe St Unit Downstairs Toledo, OH	3.0	1.0	1164	$950	$0.82	44d	1	0.54mi
908 Forsythe St Unit Upstairs Toledo, OH	2.0	1.0	1164	$900	$0.77	14d	1	0.54mi
948 White St Toledo, OH	3.0	1.0	1024	$1,135	$1.11	14d	1	0.55mi
1537 Remington St Toledo, OH	3.0	1.0	1064	$1,095	$1.03	44d	1	0.59mi
946 Butler St Toledo, OH	2.0	1.0	944	$650	$0.69	44d	1	0.65mi
912 Willow Ave Toledo, OH	1.0	1.0	900	$850	$0.94	44d	1	0.65mi
1505 Navarre Ave Toledo, OH	3.0	1.0	1331	$1,145	$0.86	44d	1	0.67mi
724 Plymouth St Toledo, OH	1.0	1.0	850	$750	$0.88	14d	1	0.72mi
724 Plymouth St Toledo, OH	2.0	1.0	819	$750	$0.92	44d	1	0.72mi
950 Oak St Unit 1 Toledo, OH	2.0	1.0	725	$700	$0.97	44d	1	0.79mi
834 Oak St Toledo, OH	3.0	1.0	1064	$900	$0.85	44d	1	0.90mi
1614 Nevada St Toledo, OH	2.0	1.0	1172	$1,000	$0.85	21d	1	0.91mi
1123 Nevada St Toledo, OH	2.0	1.0	792	$900	$1.14	14d	1	0.91mi
557 Valleywood Dr Toledo, OH	3.0	1.0	848	$1,100	$1.30	44d	1	0.96mi
571 Howland Ave Toledo, OH	2.0	1.0	874	$875	$1.00	44d	1	0.99mi
732 Coyne Ave Toledo, OH	3.0	1.0	968	$1,145	$1.18	14d	1	1.04mi
508 Howland Ave Toledo, OH	3.0	1.0	840	$1,000	$1.19	44d	1	1.06mi
722 Coyne Ave Toledo, OH	2.0	1.0	900	$1,000	$1.11	14d	1	1.06mi
1311 Mason St Unit 2 Toledo, OH	1.0	1.0	950	$703	$0.74	14d	1	1.10mi
537 Potter St Toledo, OH	2.0	1.0	1200	$625	$0.52	23d	1	1.12mi
537 Potter St Toledo, OH	1.0	1.0	1000	$600	$0.60	44d	1	1.12mi
2337 Burnside Ave Oregon, OH	2.0	1.0	1025	$1,150	$1.12	14d	1	1.14mi
2129 Nevada St Toledo, OH	3.0	1.0	1352	$1,200	$0.89	14d	1	1.15mi
2401 Burnside Ave Oregon, OH	2.0	1.0	1025	$1,150	$1.12	14d	1	1.18mi
653 Oswald St Toledo, OH	2.0	1.0	920	$800	$0.87	44d	1	1.24mi
315 Parker Ave Unit 3 Toledo, OH	1.0	1.0	1029	$799	$0.78	23d	1	1.27mi
2074 Starr Ave Toledo, OH	3.0	1.0	1115	$1,025	$0.92	23d	1	1.30mi
451 5th St Apt 1 Toledo, OH	1.0	1.0	850	$650	$0.76	44d	1	1.31mi
420 Platt St Toledo, OH	2.0	1.0	1499	$685	$0.46	21d	1	1.37mi
20 Greenwood Ave Toledo, OH	3.0	1.0	1496	$1,150	$0.77	14d	1	1.37mi
414 Platt St Unit ST-1 Toledo, OH	1.0	1.0	800	$800	$1.00	44d	1	1.38mi
414 Platt St Unit ST-3 Toledo, OH	3.0	1.0	1500	$1,150	$0.77	23d	1	1.38mi
223 Valleywood Dr Toledo, OH	2.0	1.0	1098	$1,099	$1.00	23d	1	1.42mi
1103 S Wheeling St Oregon, OH	2.0	1.0	825	$1,049	$1.27	44d	1	1.43mi
470 2nd St Unit 1 Toledo, OH	2.0	1.0	950	$799	$0.84	44d	1	1.46mi
2480 Tracy Rd Northwood, OH	1.0–2.0	1.0	717	$1,015	$1.41	14d	1	1.49mi

Listing history 31 events

1. 2026-06-18
   days on market $47,500 Active 90 DOM
2. 2026-06-17
   days on market $47,500 Active 89 DOM
3. 2026-06-16
   days on market $47,500 Active 88 DOM
4. 2026-06-15
   days on market $47,500 Active 87 DOM
5. 2026-06-14
   days on market $47,500 Active 85 DOM
6. 2026-06-10
   days on market $47,500 Active 82 DOM
7. 2026-06-09
   days on market $47,500 Active 81 DOM
8. 2026-06-08
   days on market $47,500 Active 80 DOM
9. 2026-06-07
   days on market $47,500 Active 79 DOM
10. 2026-06-05
    days on market $47,500 Active 76 DOM
11. 2026-06-03
    days on market $47,500 Active 75 DOM
12. 2026-06-02
    pricedays on market $47,500 Active 74 DOM
13. 2026-06-01
    days on market $49,900 Active 73 DOM
14. 2026-05-31
    days on market $49,900 Active 72 DOM
15. 2026-05-30
    days on market $49,900 Active 71 DOM
16. 2026-03-20
    listed $49,900 Active 68-char remark

    Show marketing remark (68 chars)

    2 Bed, 1 Bath rental property at a great price! Priced to sell fast!

17. 2025-11-30
    historical
18. 2025-11-11
    price $54,900
19. 2025-10-14
    price $7,500
20. 2025-10-02
    price $59,900
21. 2025-08-02
    listed $65,000 Active
22. 2025-07-25
    historical
23. 2025-06-30
    status Active
24. 2025-05-02
    status Pending
25. 2025-03-31
    historical Contingent
26. 2025-02-14
    listed $65,000 Active
27. 2019-08-15
    soldstatus $275,000
28. 2014-02-28
    soldstatus $7,500
29. 2014-01-24
    price $14,900
30. 2014-01-17
    listed $14,900
31. 1996-02-22
    soldstatus $6,800

ⓘ 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: $1,156 · $96/mo
• Projected year-2 tax: $1,156 · $96/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 ≥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: $11,808
• − Mortgage interest: −$2,661
• − Property taxes: −$1,156
• − Insurance: −$238
• − Repairs & maintenance: −$945
• − Management: −$945
• − Depreciation: −$1,382
• Taxable income: $4,483
• Est. tax owed @ 24.0%: −$1,076
• After-tax cash flow: $3,870/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): 24,441
• Household income: $39,118
• Rent vs Own: 51.9% rent · 48.1% own
• Severe rent burden: 1257.0

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 0.61)
• Race & ethnicity: White 57% Hispanic / Latino 21% Black 14% Two or more races 14%
• Hispanic origin (detail): Mexican 17% Puerto Rican 2%
• Common ancestry: Romanian 3% Lithuanian 2% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 91% English-only · Spanish 7% Arabic 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: ▼ -47.85%
• Current HPI: 138.6894
• Rent YoY: ▲ 5.37%
• 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

+633.8% since first listed

16 events — show timeline

• 2026-03-20 Listed $49,900 NORIS
• 2025-11-30 Listing Removed — NORIS
• 2025-11-11 Price Changed $54,900 NORIS
• 2025-10-14 Price Changed $7,500 NORIS
• 2025-10-02 Price Changed $59,900 NORIS
• 2025-08-02 Listed $65,000 NORIS
• 2025-07-25 Listing Removed — NORIS
• 2025-06-30 Relisted — NORIS
• 2025-05-02 Pending — NORIS
• 2025-03-31 Contingent — NORIS
• 2025-02-14 Listed $65,000 NORIS
• 2019-08-15 Sold (Public Records) $275,000 Public Records
• 2014-02-28 Sold (MLS) $7,500 NORIS
• 2014-01-24 Price Changed $14,900 NORIS
• 2014-01-17 Listed $14,900 NORIS
• 1996-02-22 Sold (Public Records) $6,800 Public Records

Property tax history

+12.8%/yr

Latest (2025): $1,156 · +0.7% YoY. Source: county tax records.