509 Dover Pl · Toledo, OH 43605

$79,000

2 bd · 1.0 ba · 836 sqft · SingleFamily public records · 8 Days on market

Built 1922 3,200 sqft lot $94/sqft · 24% above area Est $64k · 24% 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 +29.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.4/10.0
• Rent growth +3.8/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move in ready with updates where it matters - updated windows, floors, roof, plumbing, furnace and electric. This property will make a perfect starter home or a great investment or an Air BNB ( close to the refinery and I-280). Schedule your showing today!!

Key facts

• 3,200 sq ft lot
• Parking
• Built 1922

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $270 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($983 rent vs $79k).
• Cap rate 10.4% 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-, 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; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 49% 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 $546 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 19y ago; this cycle's ask has dropped $11k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $4k; list at $79k implies a 1656% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,000

Questions for the listing agent

1. Built in 1922 — 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: 1.24% ✓
• Cap rate: 10.40%
• Cash-on-cash: 14.65%
• DSCR: 1.65
• GRM: 6.7

CMA / ARV

• ARV (median comp): $63,669
• List price: $79,000
• Delta: 39.78%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
651 Dearborn Ave	0.24mi	2/1.0	858 (+3%)	1mo	$41,000	$48	84
2121 Nevada St	0.12mi	2/1.0	731 (-13%)	4mo	$69,000	$94	71
318 Heffner St	0.30mi	2/1.0	798 (-4%)	10mo	$72,500	$91	70
2252 Digby St	0.43mi	3/1.0 (+1)	864 (+3%)	1mo	$49,475	$57	68
2325 Wilkes Rd	0.57mi	2/1.0	844 (+1%)	5mo	$123,750	$147	68
1915 Navarre Ave	0.42mi	2/1.0	872 (+4%)	10mo	$65,000	$75	65
319 White St	0.65mi	2/1.0	848 (+1%)	4mo	$40,000	$47	64
567 Dearborn Ave	0.38mi	2/1.0	779 (-7%)	10mo	$67,100	$86	63
218 Midvale Ave	0.52mi	2/1.0	864 (+3%)	12mo	$89,900	$104	60
616 Spring Grove Ave	0.46mi	3/1.0 (+1)	920 (+10%)	6mo	$36,000	$39	52
636 White St	0.65mi	3/1.0 (+1)	912 (+9%)	8mo	$52,000	$57	43
531 Plymouth St	0.66mi	2/1.0	720 (-14%)	11mo	$6,000	$8	37

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: 7.6%
• Equity multiple: 1.31×
• Total profit: $6,790
• Equity at exit: $11,779

10-year hold

• IRR: 18.8%
• Equity multiple: 2.73×
• Total profit: $38,358
• Equity at exit: $6,830

Cash invested: $22,120 (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: 6.7×

Monthly cashflow live

• Estimated rent: $983 high
• Mortgage (P&I): −$414
• Tax from tax record: −$59 /mo · $710/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $270

Break-even live

Break-even rent $641

Max offer price $79,000

Occupancy floor 68%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2074 Starr Ave Toledo, OH	3.0	1.0	1115	$1,025	$0.92	23d	1	0.12mi
722 Coyne Ave Toledo, OH	2.0	1.0	900	$1,000	$1.11	14d	1	0.30mi
732 Coyne Ave Toledo, OH	3.0	1.0	968	$1,145	$1.18	14d	1	0.32mi
571 Howland Ave Toledo, OH	2.0	1.0	874	$875	$1.00	44d	1	0.32mi
508 Howland Ave Toledo, OH	3.0	1.0	840	$1,000	$1.19	44d	1	0.33mi
578 Dearborn Ave Unit 2 Toledo, OH	1.0	1.0	660	$750	$1.14	23d	1	0.34mi
557 Valleywood Dr Toledo, OH	3.0	1.0	848	$1,100	$1.30	44d	1	0.49mi
223 Valleywood Dr Toledo, OH	2.0	1.0	1098	$1,099	$1.00	23d	1	0.62mi
1311 Mason St Unit 2 Toledo, OH	1.0	1.0	950	$703	$0.74	14d	1	0.65mi
724 Plymouth St Toledo, OH	2.0	1.0	819	$750	$0.92	44d	1	0.76mi
724 Plymouth St Toledo, OH	1.0	1.0	850	$750	$0.88	14d	1	0.76mi
1123 Nevada St Toledo, OH	2.0	1.0	792	$900	$1.14	14d	1	0.77mi
948 White St Toledo, OH	3.0	1.0	1024	$1,135	$1.11	14d	1	0.79mi
315 Parker Ave Unit 3 Toledo, OH	1.0	1.0	1029	$799	$0.78	23d	1	0.83mi
653 Oswald St Toledo, OH	2.0	1.0	920	$800	$0.87	44d	1	0.91mi
251 Graham St Apt A Toledo, OH	2.0	1.0	625	$850	$1.36	44d	1	0.91mi
221 Licking St Unit 2 Toledo, OH	3.0	1.0	1048	$1,099	$1.05	23d	1	0.97mi
1305 Mott Ave Toledo, OH	3.0	1.0	1080	$1,000	$0.93	44d	1	1.04mi
21 Magyar St Toledo, OH	2.0	1.0	680	$1,050	$1.54	44d	1	1.05mi
1103 S Wheeling St Oregon, OH	2.0	1.0	825	$1,049	$1.27	44d	1	1.05mi
128 Carbon St Toledo, OH	3.0	1.0	1113	$1,200	$1.08	23d	1	1.09mi
414 Platt St Unit ST-1 Toledo, OH	1.0	1.0	800	$800	$1.00	44d	1	1.11mi
1848 Genesee St Toledo, OH	3.0	1.0	1069	$1,200	$1.12	44d	1	1.12mi
1848 Genesee St Toledo, OH	3.0	1.0	1069	$1,300	$1.22	23d	1	1.12mi
1205 Liberty St Unit NA Toledo, OH	3.0	1.0	864	$1,195	$1.38	44d	1	1.17mi
451 5th St Apt 1 Toledo, OH	1.0	1.0	850	$650	$0.76	44d	1	1.20mi
912 Willow Ave Toledo, OH	1.0	1.0	900	$850	$0.94	44d	1	1.25mi
3101 Navarre Ave Oregon, OH	1.0	1.0	707	$825	$1.17	14d	1	1.27mi
470 2nd St Unit 1 Toledo, OH	2.0	1.0	950	$799	$0.84	44d	1	1.28mi
2750 Pickle Rd Oregon, OH	2.0	1.0	800	$1,434	$1.79	23d	1	1.30mi
2750 Pickle Rd Oregon, OH	2.0	1.0	800	$953	$1.19	14d	1	1.30mi
537 Potter St Toledo, OH	1.0	1.0	1000	$600	$0.60	44d	1	1.30mi
946 Butler St Toledo, OH	2.0	1.0	944	$650	$0.69	44d	1	1.34mi
2039 Genesee St Toledo, OH	1.0	1.0	660	$625	$0.95	44d	1	1.35mi
1537 Carlyle St Toledo, OH	2.0	1.0	800	$800	$1.00	23d	1	1.44mi
834 Oak St Toledo, OH	3.0	1.0	1064	$900	$0.85	44d	1	1.45mi
2337 Burnside Ave Oregon, OH	2.0	1.0	1025	$1,150	$1.12	14d	1	1.46mi
2401 Burnside Ave Oregon, OH	2.0	1.0	1025	$1,150	$1.12	14d	1	1.47mi
625 Riverside Dr Toledo, OH	1.0–2.0	1.0–2.0	860	$1,767	$2.05	14d	37	1.49mi

Listing history 37 events

1. 2026-06-18
   days on market $79,000 Active 8 DOM
2. 2026-06-17
   days on market $79,000 Active 7 DOM
3. 2026-06-16
   days on market $79,000 Active 6 DOM
4. 2026-06-15
   days on market $79,000 Active 5 DOM
5. 2026-06-14
   remarks 289-char remark
6. 2026-06-14
   pricedays on marketlisting id $79,000 Active 3 DOM
7. 2026-06-09
   days on market $89,000 Active 116 DOM
8. 2026-06-08
   days on market $89,000 Active 115 DOM
9. 2026-06-07
   days on market $89,000 Active 114 DOM
10. 2026-06-05
    days on market $89,000 Active 111 DOM
11. 2026-06-03
    days on market $89,000 Active 110 DOM
12. 2026-06-02
    days on market $89,000 Active 109 DOM
13. 2026-06-01
    days on market $89,000 Active 108 DOM
14. 2026-05-31
    days on market $89,000 Active 107 DOM
15. 2026-05-30
    days on market $89,000 Active 106 DOM
16. 2026-05-12
    price $89,000 257-char remark

    Show marketing remark (257 chars)

    Move in ready with updates where it matters - updated windows, floors, roof, plumbing, furnace and electric. This property will make a perfect starter home or a great investment or an Air BNB ( close to the refinery and I-280). Schedule your showing today!!

17. 2026-02-13
    listed $89,900 Active 257-char remark

    Show marketing remark (257 chars)

    Move in ready with updates where it matters - updated windows, floors, roof, plumbing, furnace and electric. This property will make a perfect starter home or a great investment or an Air BNB ( close to the refinery and I-280). Schedule your showing today!!

18. 2025-10-13
    price $4,500 126-char remark

    Show marketing remark (126 chars)

    Wonderful 2 bedroom bungalow. Your magic touch could make this place of your dream. Call today to set up your personal preview

19. 2023-08-29
    historical
20. 2023-06-28
    listed $64,900 Active
21. 2012-06-01
    soldstatus $4,500 126-char remark

    Show marketing remark (126 chars)

    Wonderful 2 bedroom bungalow. Your magic touch could make this place of your dream. Call today to set up your personal preview

22. 2012-03-29
    listed $4,900 126-char remark

    Show marketing remark (126 chars)

    Wonderful 2 bedroom bungalow. Your magic touch could make this place of your dream. Call today to set up your personal preview

23. 2012-03-26
    historical
24. 2012-01-26
    listed $9,900
25. 2012-01-17
    historical
26. 2011-11-18
    listed $15,900
27. 2011-10-22
    historical
28. 2011-09-22
    listed $25,000
29. 2011-09-11
    historical
30. 2011-06-11
    listed $25,000
31. 2011-05-12
    soldstatus $10,000
32. 2011-04-07
    historical
33. 2011-03-10
    listed $15,000
34. 2007-07-26
    historical
35. 2007-01-26
    listed $33,000
36. 1993-01-15
    soldstatus $29,700
37. 1989-03-22
    soldstatus $27,400

ⓘ 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: $710 · $59/mo
• Projected year-2 tax: $971 · $81/mo
• Expected delta: +$261/yr (+$22/mo · 36.8%)

ⓘ 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: $11,794
• − Mortgage interest: −$4,425
• − Property taxes: −$710
• − Insurance: −$395
• − Repairs & maintenance: −$944
• − Management: −$944
• − Depreciation: −$2,298
• Taxable income: $2,079
• Est. tax owed @ 24.0%: −$499
• After-tax cash flow: $2,742/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

+224.8% since first listed

22 events — show timeline

• 2026-05-12 Price Changed $89,000 NORIS
• 2026-02-13 Listed $89,900 NORIS
• 2025-10-13 Price Changed $4,500 NORIS
• 2023-08-29 Listing Removed — NORIS
• 2023-06-28 Listed $64,900 NORIS
• 2012-06-01 Sold (MLS) $4,500 NORIS
• 2012-03-29 Listed $4,900 NORIS
• 2012-03-26 Listing Removed — NORIS
• 2012-01-26 Listed $9,900 NORIS
• 2012-01-17 Listing Removed — NORIS
• 2011-11-18 Listed $15,900 NORIS
• 2011-10-22 Listing Removed — NORIS
• 2011-09-22 Listed $25,000 NORIS
• 2011-09-11 Listing Removed — NORIS
• 2011-06-11 Listed $25,000 NORIS
• 2011-05-12 Sold (Public Records) $10,000 Public Records
• 2011-04-07 Listing Removed — NORIS
• 2011-03-10 Listed $15,000 NORIS
• 2007-07-26 Listing Removed — NORIS
• 2007-01-26 Listed $33,000 NORIS
• 1993-01-15 Sold (Public Records) $29,700 Public Records
• 1989-03-22 Sold (Public Records) $27,400 Public Records

Property tax history

+2.4%/yr

Latest (2025): $710 · +2.4% YoY. Source: county tax records.