528 Carlton St · Toledo, OH 43609

$100,000

3 bd · 1.0 ba · 1,133 sqft · SingleFamily public records · 9 Days on market

Built 1923 3,400 sqft lot Est $83k · 21% over

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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 +24.2/30.0
• DSCR +7.8/10.0
• 1% rule +6.2/10.0
• Appreciation +5.4/10.0
• Rent growth +4.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

South Toledo property that needs your sweat equity. Large dining room with deck. Has potential as a rental property and homeowner.

Key facts

• 3,400 sq ft lot
• Garage
• Built 1923

Property features AI

Finance

• HOA & community: Neighborhood sidewalks

Exterior

• Parking: Detached garage; Off-street parking; Garage provides about 1.5 car spaces
• Utilities: Electricity connected (100 amp service); Natural gas connected; Public water; Public sewer
• Home design: Single-family house; Two levels
• Construction: Vinyl siding; Shingle roof; Block foundation and crawl space; Built year sourced from public records
• Exterior features: Private yard; Front porch; Privacy fencing

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: Two upstairs bedrooms plus an additional upper-level room
• Flooring: Combination of carpet and wood
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fans for added cooling
• Interior features: Ceiling fans; Storm doors; Living room (Main) approximately 21 x 12; Dining room (Main) approximately 14 x 13; Kitchen (Main) approximately 14 x 10; Additional upper-level room approximately 13 x 11; Bedroom 2 (Upper) approximately 12 x 8; Bedroom 3 (Upper) approximately 11 x 10; Total of 6 rooms
• Laundry & utility: Washer/dryer area located in the basement; Water heater included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $199 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).

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: Arlington Elementary School (math 12% / reading 14%, grade F, #1,429 of 1,584 statewide, top 90%, 327 students, 0% FRL); Bowsher High School (math 23% / reading 45%, grade F, #596 of 781 statewide, top 76%, 1,240 students, 49% FRL) — zoned schools average 25% FRL vs 72% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+7.8%/yr); 100 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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 ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $1k of equity ($691 loan paydown + $749 appreciation (0.8% 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 (0.8% appreciation + 7.8% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 19y ago; this cycle's ask is 133% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $43k; list at $100k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1923 — 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 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: 1.12% ✓
• Cap rate: 8.68%
• Cash-on-cash: 8.54%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $82,709
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
317 Eldred Ave	0.34mi	3/1.5	1,108 (-2%)	1mo	$45,000	$41	78
1402 Prouty Ave	0.19mi	3/1.0	1,030 (-9%)	1mo	$50,000	$49	75
819 Lodge Ave	0.33mi	3/2.0	1,190 (+5%)	1mo	$65,000	$55	72
624 Carlton St	0.11mi	3/2.0	1,013 (-11%)	2mo	$134,888	$133	72
855 Brighton Ave	0.41mi	3/1.0	1,070 (-6%)	2mo	$97,500	$91	70
752 Hampton Ave	0.35mi	2/1.5 (-1)	1,182 (+4%)	2mo	$85,900	$73	68
819 Geneva Ave	0.45mi	3/1.0	1,212 (+7%)	2mo	$105,000	$87	66
1152 Colton St	0.49mi	3/1.0	1,046 (-8%)	1mo	$65,000	$62	64
219 Storrs	0.53mi	3/1.0	1,056 (-7%)	2mo	$81,800	$77	62
537 Lynnhaven Dr	0.58mi	3/2.0	1,088 (-4%)	1mo	$150,000	$138	62
1023 Shadowlawn Dr	0.61mi	3/1.0	1,193 (+5%)	2mo	$72,000	$60	61
119 Whiting Ave	0.61mi	3/1.0	1,224 (+8%)	2mo	$45,000	$37	56

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

Projected returns pro-forma

0.75% appreciation · 7.8% rent growth · sell at horizon

5-year hold

• IRR: 13.1%
• Equity multiple: 1.68×
• Total profit: $19,043
• Equity at exit: $32,841

10-year hold

• IRR: 20.0%
• Equity multiple: 3.72×
• Total profit: $76,052
• Equity at exit: $42,656

Cash invested: $28,000 (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 43609

• Home prices YoY: 0.3%
• Rents YoY: 7.8%
• Active inventory: 100
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,123 high
• Mortgage (P&I): −$524
• Tax from tax record: −$122 /mo · $1,464/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $199

Break-even live

Break-even rent $871

Max offer price $100,000

Occupancy floor 77%

Sensitivity live

Price	-10% $256	-5% $228	+0% $199	+5% $171	+10% $143
Rent	-10% $111	-5% $155	+0% $199	+5% $244	+10% $288
Rate	-1.0pp $250	-0.5pp $225	base $199	+0.5pp $173	+1.0pp $147

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
532 Carlton St Toledo, OH	3.0	1.0	1130	$1,050	$0.93	45d	1	0.02mi
523 Nicholas St Toledo, OH	3.0	1.0	1290	$1,350	$1.05	15d	1	0.05mi
1418 Colburn St Toledo, OH	3.0	1.0	992	$1,200	$1.21	15d	1	0.14mi
705 Nicholas St Toledo, OH	2.0	1.0	1037	$900	$0.87	45d	1	0.19mi
724 Spencer St Toledo, OH	3.0	1.5	1127	$1,100	$0.98	45d	1	0.21mi
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	45d	1	0.35mi
1734 Arlington Ave Toledo, OH	2.0	1.0	700	$800	$1.14	15d	1	0.58mi
2424 Broadway St Toledo, OH	3.0	1.0	1416	$1,049	$0.74	15d	1	0.58mi
2594 Broadway St Toledo, OH	2.0	1.0	1076	$825	$0.77	45d	1	0.70mi
2044 Arlington Ave Toledo, OH	2.0	1.0	800	$825	$1.03	22d	1	0.91mi
837 Colburn St Unit 2 Toledo, OH	2.0	1.0	1158	$695	$0.60	25d	1	0.94mi
837 Colburn St Unit 1 Toledo, OH	2.0	1.0	1178	$700	$0.59	45d	1	0.94mi
827 Colburn St Toledo, OH	2.0	1.0	1092	$750	$0.69	45d	1	0.96mi
319 N Detroit Ave Toledo, OH	3.0	1.0	1341	$845	$0.63	45d	1	0.99mi
307 Danberry St Toledo, OH	2.0	1.0	988	$950	$0.96	45d	1	1.00mi
771 Orchard St Unit 7715 Toledo, OH	2.0	1.0	1086	$645	$0.59	25d	1	1.01mi
1785 Tecumseh St Toledo, OH	2.0	1.0	930	$900	$0.97	45d	1	1.09mi
2314 Airline Ave Toledo, OH	3.0	1.0	1123	$1,478	$1.32	25d	1	1.16mi
569 Colima Dr Toledo, OH	3.0	1.0	1253	$1,300	$1.04	25d	1	1.36mi
581 Colima Dr Toledo, OH	2.0	1.0	900	$1,100	$1.22	15d	1	1.36mi
619 Durango Dr Toledo, OH	3.0	1.0	1276	$1,350	$1.06	45d	1	1.42mi

Listing history 18 events

1. 2026-06-21
   days on market $100,000 Active 9 DOM
2. 2026-06-19
   price $100,000 Active 6 DOM
3. 2026-06-18
   days on market $120,000 Active 6 DOM
4. 2026-06-17
   days on market $120,000 Active 5 DOM
5. 2026-06-16
   days on market $120,000 Active 4 DOM
6. 2026-06-15
   days on market $120,000 Active 3 DOM
7. 2026-06-14
   statusdays on market $120,000 Active 1 DOM
8. 2026-06-10
   days on market $120,000 Coming Soon 12 DOM
9. 2026-06-09
   days on market $120,000 Coming Soon 11 DOM
10. 2026-06-08
    days on market $120,000 Coming Soon 10 DOM
11. 2026-06-07
    days on market $120,000 Coming Soon 9 DOM
12. 2026-06-05
    days on market $120,000 Coming Soon 6 DOM
13. 2026-06-03
    days on market $120,000 Coming Soon 5 DOM
14. 2026-06-02
    days on market $120,000 Coming Soon 4 DOM
15. 2026-06-01
    days on market $120,000 Coming Soon 3 DOM
16. 2026-05-31
    days on market $120,000 Coming Soon 2 DOM
17. 2026-05-30
    remarks 699-char remark
18. 2026-05-30
    listed $120,000 Coming Soon 1 DOM

ⓘ 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: $1,464 · $122/mo
• Projected year-2 tax: $1,512 · $126/mo
• Expected delta: +$48/yr (+$4/mo · 3.3%)

ⓘ 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: $13,479
• − Mortgage interest: −$5,602
• − Property taxes: −$1,464
• − Insurance: −$500
• − Repairs & maintenance: −$1,078
• − Management: −$1,078
• − Depreciation: −$2,909
• Taxable income: $847
• Est. tax owed @ 24.0%: −$203
• After-tax cash flow: $2,188/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): 21,404
• Household income: $42,313
• Rent vs Own: 55.7% rent · 44.3% own
• Severe rent burden: 1603.0

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 0.66)
• Race & ethnicity: White 47% Black 29% Hispanic / Latino 17% Two or more races 9%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Arabic 1% 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: ▲ 0.75%
• Current HPI: 235.2515
• Rent YoY: ▲ 7.80%
• 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

+225.2% since first listed

15 events — show timeline

• 2026-05-29 Coming Soon $120,000 NORIS
• 2025-10-13 Price Changed $10,700 NORIS
• 2016-08-25 Sold (Public Records) $42,900 Public Records
• 2016-08-23 Sold (MLS) $42,900 NORIS
• 2012-05-15 Listed $42,900 NORIS
• 2011-12-01 Listing Removed — NORIS
• 2010-07-14 Listed $65,000 NORIS
• 2009-11-25 Sold (MLS) $10,700 NORIS
• 2009-05-07 Listed $12,500 NORIS
• 2009-05-06 Listing Removed — NORIS
• 2009-02-02 Listed $19,900 NORIS
• 2007-04-08 Listing Removed — NORIS
• 2007-03-14 Sold (Public Records) $66,000 Public Records
• 2007-01-08 Listed $64,900 NORIS
• 1995-12-18 Sold (Public Records) $36,900 Public Records

Property tax history

+2.6%/yr

Latest (2025): $1,464 · +0.7% YoY. Source: county tax records.