1624 Pool St · Toledo, OH 43605

$94,900

3 bd · 2.0 ba · 1,826 sqft · MultiFamily public records · 3 Days on market

Built 1907 4,200 sqft lot Est $111k · 15% 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 +14.2/15.0
• 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

Multi-family units

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

Listing remarks MLS

Handyman Special! Wall furnaces in both units. Please provide proof of funds with offer.

Key facts

• 4,200 sq ft lot
• Built 1907
• Listed 3 days

Property features AI

Finance

• Other: Lot approximately 0.1 acre
• Financial info: Two-unit building (both units leased); Tenants pay electricity and gas; owner pays water

Exterior

• Parking: Parking in back of duplex; Alley access and off-street parking
• Utilities: Electricity connected (circuit breakers); Natural gas connected; Public water; Sanitary sewer
• Home design: Residential income duplex; Two-story duplex
• Construction: Vinyl siding; Block foundation; Built with public-record living area of 1,826
• Exterior features: Shingle roof

Interior

• Kitchen: Water heater
• Bedrooms: Upper level bedrooms; Basement-level bedrooms
• Flooring: Carpet; Luxury vinyl
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units
• Interior features: Other interior features; Full basement
• Laundry & utility: Upper level laundry; Basement laundry

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $95k.

Deal economics

• At list price, monthly cash flow is $817 ($10k/yr) — positive. Per door: $408/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Cap rate 16.6% 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-, 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: Oakdale Elementary School (math 13% / reading 21%, grade F, #1,337 of 1,584 statewide, top 86%, 385 students, 0% FRL); Waite High School (math 12% / reading 24%, grade F, #687 of 781 statewide, top 88%, 997 students, 0% FRL) — zoned schools average 0% FRL vs 72% district-wide (72 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+5.4%/yr); 117 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• At $1,893/mo this rent would consume 58% of the median local household income ($39k/yr) (locally 1257% 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 $656 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 + 5.4% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 22y 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.
• Current owner paid $82k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $94,900

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 1907 — 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: 1.99% ✓
• Cap rate: 16.62%
• Cash-on-cash: 36.88%
• DSCR: 2.64
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $111,386
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1644 Pool St	0.03mi	4/2.0 (+1)	1,607 (-12%)	5mo	$98,500	$61	70
1022 Liberty St	0.68mi	4/2.0 (+1)	1,604 (-12%)	20mo	$67,500	$42	26

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: 35.5%
• Equity multiple: 2.55×
• Total profit: $41,293
• Equity at exit: $14,150

10-year hold

• IRR: 43.5%
• Equity multiple: 5.63×
• Total profit: $123,004
• Equity at exit: $8,205

Cash invested: $26,572 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,893 high
• Mortgage (P&I): −$498
• Tax from tax record: −$142 /mo · $1,700/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $817

Break-even live

Break-even rent $859

Max offer price $94,900

Occupancy floor 52%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,894
Total (2 units)			$1,893

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
606 Earl St Toledo, OH	3.0	1.5	1700	$1,150	$0.68	21d	1	0.77mi
1505 Navarre Ave Toledo, OH	3.0	1.0	1331	$1,145	$0.86	43d	1	1.31mi
20 Greenwood Ave Toledo, OH	3.0	1.0	1496	$1,150	$0.77	14d	1	1.44mi

Listing history 4 events

1. 2026-06-18
   days on market $94,900 Active 3 DOM
2. 2026-06-17
   days on market $94,900 Active 2 DOM
3. 2026-06-15
   remarks 94-char remark
4. 2026-06-15
   listed $94,900 Active 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: $1,700 · $142/mo
• Projected year-2 tax: $1,700 · $142/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: $22,716
• − Mortgage interest: −$5,316
• − Property taxes: −$1,700
• − Insurance: −$474
• − Repairs & maintenance: −$1,817
• − Management: −$1,817
• − Depreciation: −$2,761
• Taxable income: $8,830
• Est. tax owed @ 24.0%: −$2,119
• After-tax cash flow: $7,680/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

+582.7% since first listed

26 events — show timeline

• 2026-06-15 Listed $94,900 NORIS
• 2025-10-14 Price Changed $13,000 NORIS
• 2025-10-14 Price Changed $52,000 NORIS
• 2025-10-14 Price Changed $82,000 NORIS
• 2025-10-13 Price Changed $7,500 NORIS
• 2023-04-19 Pending — NORIS
• 2023-04-19 Sold (MLS) $82,000 NORIS
• 2023-01-20 Contingent — NORIS
• 2023-01-06 Listed $82,900 NORIS
• 2022-09-30 Listing Removed — NORIS
• 2022-06-10 Listed — NORIS
• 2017-04-17 Sold (Public Records) $175,000 Public Records
• 2017-02-23 Listing Removed — NORIS
• 2016-02-04 Sold (Public Records) $75,000 Public Records
• 2014-09-21 Listed $35,000 NORIS
• 2010-07-26 Sold (MLS) $7,500 NORIS
• 2010-04-22 Listed $9,900 NORIS
• 2009-06-01 Listing Removed — NORIS
• 2009-01-12 Listed $30,000 NORIS
• 2008-08-10 Listing Removed — NORIS
• 2007-08-29 Listed $64,900 NORIS
• 2007-07-02 Sold (Public Records) $52,000 Public Records
• 2007-07-01 Sold (MLS) $52,000 NORIS
• 2007-01-10 Listed $55,000 NORIS
• 2004-12-10 Sold (MLS) $13,000 NORIS
• 2004-10-22 Listed $13,900 NORIS

Property tax history

+2.0%/yr

Latest (2025): $1,700 · -7.0% YoY. Source: county tax records.