2619 Locust St · Toledo, OH 43608

$94,500

5 bd · 2.0 ba · 2,358 sqft · MultiFamily public records · 16 Days on market

Built 1904 3,600 sqft lot

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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
• Rent growth +3.5/5.0
• Livability +3.3/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Well-maintained duplex offering spacious units, updated features, and strong rental potential. Perfect for investors ir buyers looking to live in one unit and rent the other. Convenient location close to schools, shopping, and major routes. Don't miss this move in ready investment!

Key facts

• Updated features
• Convenient location
• Spacious units

Tags

• SPACIOUS UNITS
• UPDATED FEATURES
• STRONG RENTAL POTENTIAL
• CONVENIENT LOCATION
• MOVE IN READY INVESTMENT

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $94k.

Deal economics

• At list price, monthly cash flow is $897 ($11k/yr) — positive. Per door: $449/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $94k).
• Recommended offer: $93k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.7% 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 (+3.9%/yr); 58 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• At $1,934/mo this rent would consume 79% of the median local household income ($29k/yr) (locally 911% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $653 of loan paydown is wiped out by about $3k 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 + 3.9% rent growth), your $26k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 27y ago; this cycle's ask has dropped $12k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $11k; list at $94k implies a 759% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,082 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 2.05% ✓
• Cap rate: 17.69%
• Cash-on-cash: 40.69%
• DSCR: 2.81
• GRM: 4.1

CMA / ARV

• ARV (median comp): $54,585
• List price: $94,500
• Delta: 73.12%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2278 Warren St	0.55mi	5/2.0	2,380 (+1%)	4mo	$845,000	$355	69
106 Melrose Ave	0.37mi	5/2.0	2,158 (-8%)	2mo	$75,000	$35	67
2824 Chestnut St	0.40mi	4/2.0 (-1)	2,055 (-13%)	2mo	$81,000	$39	53

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 · 3.89% rent growth · sell at horizon

5-year hold

• IRR: 38.2%
• Equity multiple: 2.65×
• Total profit: $43,600
• Equity at exit: $14,090

10-year hold

• IRR: 45.1%
• Equity multiple: 5.49×
• Total profit: $118,919
• Equity at exit: $8,171

Cash invested: $26,460 (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 43608

• Home prices YoY: -21.3%
• Rents YoY: 3.9%
• Active inventory: 58
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,934 high
• Mortgage (P&I): −$496
• Tax from tax record: −$96 /mo · $1,147/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $897

Break-even live

Break-even rent $798

Max offer price $94,500

Occupancy floor 49%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,934
Total (2 units)			$1,934

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: $23,625
• Closing costs: $2,835
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1536 N Erie St Toledo, OH	4.0	1.0	1600	$1,300	$0.81	44d	1	1.27mi

Listing history 39 events

1. 2026-06-18
   days on market $94,500 Active 16 DOM
2. 2026-06-17
   days on market $94,500 Active 15 DOM
3. 2026-06-16
   days on market $94,500 Active 14 DOM
4. 2026-06-15
   days on market $94,500 Active 13 DOM
5. 2026-06-14
   days on market $94,500 Active 11 DOM
6. 2026-06-10
   days on market $94,500 Active 8 DOM
7. 2026-06-09
   days on market $94,500 Active 7 DOM
8. 2026-06-08
   days on market $94,500 Active 6 DOM
9. 2026-06-07
   days on market $94,500 Active 5 DOM
10. 2026-06-05
    days on market $94,500 Active 2 DOM
11. 2026-06-03
    pricedays on market $94,500 Active 1 DOM
12. 2026-05-31
    days on market $99,000 Active 87 DOM
13. 2026-05-30
    days on market $99,000 Active 86 DOM
14. 2026-05-05
    status Active 282-char remark

    Show marketing remark (282 chars)

    Well-maintained duplex offering spacious units, updated features, and strong rental potential. Perfect for investors ir buyers looking to live in one unit and rent the other. Convenient location close to schools, shopping, and major routes. Don't miss this move in ready investment!

15. 2026-04-27
    historical Contingent 282-char remark

    Show marketing remark (282 chars)

    Well-maintained duplex offering spacious units, updated features, and strong rental potential. Perfect for investors ir buyers looking to live in one unit and rent the other. Convenient location close to schools, shopping, and major routes. Don't miss this move in ready investment!

16. 2026-03-06
    status Active 282-char remark

    Show marketing remark (282 chars)

    Well-maintained duplex offering spacious units, updated features, and strong rental potential. Perfect for investors ir buyers looking to live in one unit and rent the other. Convenient location close to schools, shopping, and major routes. Don't miss this move in ready investment!

17. 2026-01-15
    price $99,000 282-char remark

    Show marketing remark (282 chars)

    Well-maintained duplex offering spacious units, updated features, and strong rental potential. Perfect for investors ir buyers looking to live in one unit and rent the other. Convenient location close to schools, shopping, and major routes. Don't miss this move in ready investment!

18. 2025-12-10
    status Active 282-char remark

    Show marketing remark (282 chars)

    Well-maintained duplex offering spacious units, updated features, and strong rental potential. Perfect for investors ir buyers looking to live in one unit and rent the other. Convenient location close to schools, shopping, and major routes. Don't miss this move in ready investment!

19. 2025-12-06
    status Pending 282-char remark

    Show marketing remark (282 chars)

    Well-maintained duplex offering spacious units, updated features, and strong rental potential. Perfect for investors ir buyers looking to live in one unit and rent the other. Convenient location close to schools, shopping, and major routes. Don't miss this move in ready investment!

20. 2025-12-06
    historical 282-char remark

    Show marketing remark (282 chars)

    Well-maintained duplex offering spacious units, updated features, and strong rental potential. Perfect for investors ir buyers looking to live in one unit and rent the other. Convenient location close to schools, shopping, and major routes. Don't miss this move in ready investment!

21. 2025-12-05
    listed $106,000 Active 282-char remark

    Show marketing remark (282 chars)

    Well-maintained duplex offering spacious units, updated features, and strong rental potential. Perfect for investors ir buyers looking to live in one unit and rent the other. Convenient location close to schools, shopping, and major routes. Don't miss this move in ready investment!

22. 2025-10-14
    price $33,000 237-char remark

    Show marketing remark (237 chars)

    WAS OWNER OCCUPIED FOR MANY YEARS, HOT WATER BASEBOARD HEAT DOWN, GFA HEAT UP. ALL COPPER PLMBG. 1 CAR GARAGE W/ATTACHED WORK AREA. SEPERATE 100 AMP SERVICES WITH BREAKERS. LOWER UNIT HAS LARGE MASTERW/3 CLOSETS. LARGE UP- DATED KITCHEN.

23. 2025-10-14
    price $11,000

    Show marketing remark (237 chars)

    WAS OWNER OCCUPIED FOR MANY YEARS, HOT WATER BASEBOARD HEAT DOWN, GFA HEAT UP. ALL COPPER PLMBG. 1 CAR GARAGE W/ATTACHED WORK AREA. SEPERATE 100 AMP SERVICES WITH BREAKERS. LOWER UNIT HAS LARGE MASTERW/3 CLOSETS. LARGE UP- DATED KITCHEN.

24. 2024-11-13
    historical
25. 2024-08-16
    listed $29,900 Active
26. 2024-06-06
    status Pending
27. 2024-06-05
    soldstatus $11,000 Closed
28. 2024-05-26
    historical Contingent
29. 2024-05-06
    price $18,397
30. 2024-05-01
    price $20,397
31. 2024-04-19
    price $25,397
32. 2024-04-10
    listed $30,397 Active
33. 2012-08-03
    historical
34. 2008-02-03
    listed $37,900
35. 1999-05-25
    soldstatus $42,500
36. 1999-05-21
    soldstatus $33,000 237-char remark

    Show marketing remark (237 chars)

    WAS OWNER OCCUPIED FOR MANY YEARS, HOT WATER BASEBOARD HEAT DOWN, GFA HEAT UP. ALL COPPER PLMBG. 1 CAR GARAGE W/ATTACHED WORK AREA. SEPERATE 100 AMP SERVICES WITH BREAKERS. LOWER UNIT HAS LARGE MASTERW/3 CLOSETS. LARGE UP- DATED KITCHEN.

37. 1999-03-16
    soldstatus $15,000
38. 1999-03-15
    listed $37,000 237-char remark

    Show marketing remark (237 chars)

    WAS OWNER OCCUPIED FOR MANY YEARS, HOT WATER BASEBOARD HEAT DOWN, GFA HEAT UP. ALL COPPER PLMBG. 1 CAR GARAGE W/ATTACHED WORK AREA. SEPERATE 100 AMP SERVICES WITH BREAKERS. LOWER UNIT HAS LARGE MASTERW/3 CLOSETS. LARGE UP- DATED KITCHEN.

39. 1996-09-24
    soldstatus $16,000

ⓘ 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: $1,147 · $96/mo
• Projected year-2 tax: $1,311 · $109/mo
• Expected delta: +$163/yr (+$14/mo · 14.2%)

ⓘ 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: $23,208
• − Mortgage interest: −$5,293
• − Property taxes: −$1,147
• − Insurance: −$472
• − Repairs & maintenance: −$1,857
• − Management: −$1,857
• − Depreciation: −$2,749
• Taxable income: $9,832
• Est. tax owed @ 24.0%: −$2,360
• After-tax cash flow: $8,408/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): 13,593
• Household income: $29,275
• Rent vs Own: 44.6% rent · 55.4% own
• Severe rent burden: 911.0

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 0.60)
• Race & ethnicity: Black 57% White 25% Two or more races 9% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Spanish 7%

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: ▼ -37.73%
• Current HPI: 139.4964
• Rent YoY: ▲ 3.89%
• 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

+518.8% since first listed

26 events — show timeline

• 2026-05-05 Relisted — NORIS
• 2026-04-27 Contingent — NORIS
• 2026-03-06 Relisted — NORIS
• 2026-01-15 Price Changed $99,000 NORIS
• 2025-12-10 Relisted — NORIS
• 2025-12-06 Pending — NORIS
• 2025-12-06 Listing Removed — NORIS
• 2025-12-05 Listed $106,000 NORIS
• 2025-10-14 Price Changed $33,000 NORIS
• 2025-10-14 Price Changed $11,000 NORIS
• 2024-11-13 Listing Removed — NORIS
• 2024-08-16 Listed $29,900 NORIS
• 2024-06-06 Pending — NORIS
• 2024-06-05 Sold (MLS) $11,000 NORIS
• 2024-05-26 Contingent — NORIS
• 2024-05-06 Price Changed $18,397 NORIS
• 2024-05-01 Price Changed $20,397 NORIS
• 2024-04-19 Price Changed $25,397 NORIS
• 2024-04-10 Listed $30,397 NORIS
• 2012-08-03 Listing Removed — NORIS
• 2008-02-03 Listed $37,900 NORIS
• 1999-05-25 Sold (Public Records) $42,500 Public Records
• 1999-05-21 Sold (MLS) $33,000 NORIS
• 1999-03-16 Sold (Public Records) $15,000 Public Records
• 1999-03-15 Listed $37,000 NORIS
• 1996-09-24 Sold (Public Records) $16,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $1,147 · +19.9% YoY. Source: county tax records.