3923 Burnham Ave · Toledo, OH 43612

$78,000

3 bd · 1.0 ba · 1,016 sqft · SingleFamily public records · 16 Days on market

Built 1907 3,200 sqft lot $77/sqft · 11% above area Est $70k · 11% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Rent growth +4.0/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

GET INSIDE. NICE INTERIOR FOR PRICE. NEW ROOF ON BACK PORCH. WOULD BE A TREMENDOUS INVESTMENT. SHOULD RENT IN $600-$650 RANGE. EXCELLANT BUY. GET IN AND MAKE AN OFFER. PROPERTY BEING SOLD "AS IS"

Key facts

• 3,200 sq ft lot
• Garage
• Built 1907

Property features AI

Finance

• Other: Property type: Residential single-family residence; Levels: Two
• HOA & community: Curbs; Street lights; Sidewalks

Exterior

• Parking: 1-car garage; Driveway
• Utilities: Electricity connected; Natural gas connected; Public sewer; Public water
• Home design: Single-family house; Two stories; Not attached to other structures; Public road frontage on a city street (asphalt)
• Construction: Aluminum siding; Block foundation
• Exterior features: Shingle roof; Garage(s)

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Bedroom 2 (Upper); Bedroom 3 (Upper)
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Natural gas heating
• Interior features: Entrance foyer; Living room; Dining room; Basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $358 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $77k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.8% 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: Whittier Elementary School (math 6% / reading 13%, grade F, #1,505 of 1,584 statewide, top 95%, 509 students, 0% FRL); Start High School (math 11% / reading 33%, grade F, #672 of 781 statewide, top 86%, 1,242 students, 50% 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 (+6.0%/yr); 92 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); 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $539 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 + 6.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 8 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.

Risks & watch-outs

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

Recommended offer $76,830 (1.5% below list)

Questions for the listing agent

1. Built in 1907 — 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: 1.45% ✓
• Cap rate: 11.80%
• Cash-on-cash: 19.66%
• DSCR: 1.87
• GRM: 5.7

CMA / ARV

• ARV (median comp): $70,000
• List price: $78,000
• Delta: 11.43%
• 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
4048 Asbury Dr	0.18mi	3/1.0	1,091 (+7%)	0mo	$89,600	$82	79
4121 Vermaas Ave	0.21mi	3/1.0	1,122 (+10%)	5mo	$82,000	$73	69
610 Dryden Dr	0.37mi	3/1.5	1,087 (+7%)	2mo	$71,500	$66	67
4444 Bellevista Dr	0.59mi	3/1.0	1,029 (+1%)	5mo	$140,000	$136	66
4129 Asbury Dr	0.26mi	3/1.0	1,139 (+12%)	3mo	$80,000	$70	65
4406 Asbury Dr	0.47mi	4/2.0 (+1)	1,089 (+7%)	2mo	$115,000	$106	55
4139 Walker Ave	0.33mi	2/1.0 (-1)	868 (-15%)	0mo	$73,000	$84	55
4352 Packard Rd	0.48mi	2/1.5 (-1)	926 (-9%)	2mo	$56,650	$61	54
4606 Burnham Ave	0.70mi	3/2.0	982 (-3%)	5mo	$95,000	$97	54
4449 Burnham Ave	0.56mi	3/1.0	1,150 (+13%)	2mo	$119,900	$104	50
520 Waggoner Blvd	0.66mi	2/1.0 (-1)	896 (-12%)	2mo	$110,000	$123	43
4316 N Lockwood Ave	0.65mi	3/1.0	1,152 (+13%)	6mo	$105,000	$91	42

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 · 6.01% rent growth · sell at horizon

5-year hold

• IRR: 15.1%
• Equity multiple: 1.63×
• Total profit: $13,697
• Equity at exit: $11,630

10-year hold

• IRR: 25.9%
• Equity multiple: 3.60×
• Total profit: $56,759
• Equity at exit: $6,744

Cash invested: $21,840 (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 43612

• Home prices YoY: -17.5%
• Rents YoY: 6.0%
• Active inventory: 92
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,133 high
• Mortgage (P&I): −$409
• Tax from tax record: −$96 /mo · $1,147/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $358

Break-even live

Break-even rent $680

Max offer price $78,000

Occupancy floor 63%

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: $19,500
• Closing costs: $2,340
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3950 Woodhaven Dr Toledo, OH	2.0	1.0	1072	$745	$0.69	23d	1	0.08mi
4039 Vermaas Ave Toledo, OH	2.0	1.0	900	$900	$1.00	23d	1	0.13mi
4124 Vermaas Ave Toledo, OH	2.0	1.0	1245	$997	$0.80	43d	1	0.19mi
4129 Vermaas Ave Toledo, OH	3.0	1.5	1385	$1,250	$0.90	43d	1	0.20mi
4140 Caroline Ave Toledo, OH	3.0	1.5	1378	$1,650	$1.20	23d	1	0.25mi
4220 Caroline Ave Toledo, OH	3.0	1.0	944	$1,095	$1.16	43d	1	0.30mi
1016 Mallett St Unit 1 Toledo, OH	2.0	1.0	1300	$900	$0.69	43d	1	0.34mi
1014 Berdan Ave Toledo, OH	3.0	1.0	1215	$1,200	$0.99	43d	1	0.37mi
4158 Mayfield Dr Toledo, OH	2.0	1.0	960	$850	$0.89	14d	1	0.44mi
4406 Asbury Dr Toledo, OH	4.0	2.0	1089	$1,550	$1.42	14d	1	0.45mi
3615 Berkeley Dr Toledo, OH	3.0	1.0	1096	$1,400	$1.28	14d	1	0.48mi
4138 N Lockwood Ave Toledo, OH	2.0	1.0	1300	$1,050	$0.81	23d	1	0.53mi
3915 Willys Pkwy Unit 3915 Toledo, OH	3.0	1.0	1080	$800	$0.74	21d	1	0.63mi
4459 N Haven Ave Toledo, OH	3.0	1.0	1416	$1,200	$0.85	14d	1	0.71mi
3541 Willys Pkwy Toledo, OH	3.0	1.0	1113	$1,400	$1.26	43d	1	0.73mi
610 Cadillac Ct Toledo, OH	3.0	1.0	1409	$1,050	$0.75	23d	1	0.74mi
3805 Hoiles Ave Toledo, OH	3.0	1.0	1370	$1,025	$0.75	23d	1	0.77mi
3725 Hoiles Ave Toledo, OH	3.0	1.0	1180	$1,245	$1.06	23d	1	0.78mi
244 Sunset Blvd Toledo, OH	2.0	1.0	726	$1,045	$1.44	21d	1	0.79mi
3713 Hazelhurst Ave Toledo, OH	3.0	1.5	1352	$1,700	$1.26	43d	1	0.85mi
4223 Birchall Rd Toledo, OH	3.0	1.0	1338	$1,395	$1.04	23d	1	0.89mi
3606 Revere Dr Toledo, OH	4.0	1.0	1320	$1,500	$1.14	43d	1	0.93mi
4120 Parrakeet Ave Toledo, OH	3.0	2.0	1410	$1,450	$1.03	43d	1	0.94mi
31 W Oakland St Toledo, OH	4.0	1.0	1188	$1,249	$1.05	23d	1	0.96mi
3901 Leybourn Ave Toledo, OH	3.0	1.0	840	$1,150	$1.37	23d	1	1.00mi
4038 Lyman Ave Toledo, OH	3.0	1.0	1175	$1,395	$1.19	43d	1	1.02mi
1489 Berdan Ave Toledo, OH	3.0	1.0	1068	$1,250	$1.17	43d	1	1.03mi
59 E Hudson St Toledo, OH	3.0	1.0	1368	$1,100	$0.80	43d	1	1.03mi
2907 Rockwood Pl Toledo, OH	3.0	1.0	1494	$1,100	$0.74	14d	1	1.06mi
3817 Burton Ave Toledo, OH	3.0	1.0	754	$1,015	$1.35	21d	1	1.06mi
1338 Crestwood Rd Toledo, OH	3.0	1.0	1000	$1,250	$1.25	14d	1	1.08mi
823 Custer Dr Unit Upstairs Toledo, OH	2.0	1.0	700	$925	$1.32	14d	1	1.14mi
425 Boston Pl Unit A Toledo, OH	2.0	1.0	1200	$895	$0.75	23d	1	1.15mi
333 E Lake St Toledo, OH	2.0	1.0	800	$495	$0.62	23d	1	1.23mi
4614 Commonwealth Ave Toledo, OH	3.0	1.5	1459	$1,295	$0.89	14d	1	1.28mi
405 E Manhattan Blvd Toledo, OH	2.0	1.0	1000	$900	$0.90	14d	1	1.29mi
5207 Bennett Rd Toledo, OH	2.0	2.0	1109	$1,200	$1.08	14d	1	1.33mi
424 E Lake St Toledo, OH	3.0	1.0	1228	$1,075	$0.88	14d	1	1.36mi
1732 Talbot St Toledo, OH	2.0	1.0	840	$995	$1.18	23d	1	1.38mi
1705 Marlow Rd Toledo, OH	2.0	1.0	738	$1,000	$1.36	23d	1	1.38mi

Listing history 26 events

1. 2026-05-10
   listed $78,000 Active 181-char remark
2. 2025-10-14
   price $44,000 205-char remark

   Show marketing remark (269 chars)

   Completely renovated! Cash flow! This home has been completely re-done with a NEW roof, siding, electrical, furnace, water heater, flooring, paint, over, and refrigerator! With a detached garage and fenced in backyard, this home has endless, money-making possibilities.

3. 2025-10-14
   price $77,900

   Show marketing remark (269 chars)

   Completely renovated! Cash flow! This home has been completely re-done with a NEW roof, siding, electrical, furnace, water heater, flooring, paint, over, and refrigerator! With a detached garage and fenced in backyard, this home has endless, money-making possibilities.

4. 2024-11-26
   soldstatus $77,900
5. 2024-11-19
   soldstatus $77,900 Closed

   Show marketing remark (269 chars)

   Completely renovated! Cash flow! This home has been completely re-done with a NEW roof, siding, electrical, furnace, water heater, flooring, paint, over, and refrigerator! With a detached garage and fenced in backyard, this home has endless, money-making possibilities.

6. 2024-11-18
   status Pending

   Show marketing remark (269 chars)

   Completely renovated! Cash flow! This home has been completely re-done with a NEW roof, siding, electrical, furnace, water heater, flooring, paint, over, and refrigerator! With a detached garage and fenced in backyard, this home has endless, money-making possibilities.

7. 2024-10-16
   historical Contingent

   Show marketing remark (269 chars)

   Completely renovated! Cash flow! This home has been completely re-done with a NEW roof, siding, electrical, furnace, water heater, flooring, paint, over, and refrigerator! With a detached garage and fenced in backyard, this home has endless, money-making possibilities.

8. 2024-10-15
   status Active

   Show marketing remark (269 chars)

   Completely renovated! Cash flow! This home has been completely re-done with a NEW roof, siding, electrical, furnace, water heater, flooring, paint, over, and refrigerator! With a detached garage and fenced in backyard, this home has endless, money-making possibilities.

9. 2024-10-09
   historical Contingent

   Show marketing remark (269 chars)

   Completely renovated! Cash flow! This home has been completely re-done with a NEW roof, siding, electrical, furnace, water heater, flooring, paint, over, and refrigerator! With a detached garage and fenced in backyard, this home has endless, money-making possibilities.

10. 2024-10-07
    listed $78,900 Active

    Show marketing remark (269 chars)

    Completely renovated! Cash flow! This home has been completely re-done with a NEW roof, siding, electrical, furnace, water heater, flooring, paint, over, and refrigerator! With a detached garage and fenced in backyard, this home has endless, money-making possibilities.

11. 2023-10-20
    soldstatus $29,900 Closed
12. 2023-10-09
    status Pending
13. 2023-10-09
    status Active
14. 2023-10-09
    status Pending
15. 2023-10-04
    listed $29,900 Active
16. 2022-11-03
    historical
17. 2022-10-19
    price $30,000
18. 2022-09-21
    price $33,000
19. 2022-08-24
    listed $38,000 Active
20. 2007-04-25
    historical
21. 2006-10-25
    listed $64,900
22. 2004-10-05
    soldstatus $44,000
23. 2004-09-30
    soldstatus $44,000 205-char remark

    Show marketing remark (205 chars)

    GET INSIDE. NICE INTERIOR FOR PRICE. NEW ROOF ON BACK PORCH. WOULD BE A TREMENDOUS INVESTMENT. SHOULD RENT IN $600-$650 RANGE. EXCELLANT BUY. GET IN AND MAKE AN OFFER. PROPERTY BEING SOLD "AS IS"

24. 2004-06-08
    listed $49,900 205-char remark

    Show marketing remark (205 chars)

    GET INSIDE. NICE INTERIOR FOR PRICE. NEW ROOF ON BACK PORCH. WOULD BE A TREMENDOUS INVESTMENT. SHOULD RENT IN $600-$650 RANGE. EXCELLANT BUY. GET IN AND MAKE AN OFFER. PROPERTY BEING SOLD "AS IS"

25. 1998-05-19
    soldstatus $40,000
26. 1988-10-26
    soldstatus $14,000

ⓘ 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: $1,182 · $98/mo
• Expected delta: +$35/yr (+$3/mo · 3.1%)

ⓘ 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,593
• − Mortgage interest: −$4,369
• − Property taxes: −$1,147
• − Insurance: −$390
• − Repairs & maintenance: −$1,087
• − Management: −$1,087
• − Depreciation: −$2,269
• Taxable income: $3,243
• Est. tax owed @ 24.0%: −$778
• After-tax cash flow: $3,515/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): 28,480
• Household income: $50,728
• Rent vs Own: 45.4% rent · 54.6% own
• Severe rent burden: 1203.0

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: Majority White (63%)
• Race & ethnicity: White 63% Black 23% Two or more races 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Romanian 9% Lithuanian 3% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% 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: ▼ -50.05%
• Current HPI: 235.5389
• Rent YoY: ▲ 6.01%
• 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

+457.1% since first listed

27 events — show timeline

• 2026-05-28 Pending — NORIS
• 2026-05-10 Listed $78,000 NORIS
• 2025-10-14 Price Changed $44,000 NORIS
• 2025-10-14 Price Changed $77,900 NORIS
• 2024-11-26 Sold (Public Records) $77,900 Public Records
• 2024-11-19 Sold (MLS) $77,900 NORIS
• 2024-11-18 Pending — NORIS
• 2024-10-16 Contingent — NORIS
• 2024-10-15 Relisted — NORIS
• 2024-10-09 Contingent — NORIS
• 2024-10-07 Listed $78,900 NORIS
• 2023-10-20 Sold (MLS) $29,900 NORIS
• 2023-10-09 Pending — NORIS
• 2023-10-09 Relisted — NORIS
• 2023-10-09 Pending — NORIS
• 2023-10-04 Listed $29,900 NORIS
• 2022-11-03 Listing Removed — MLSNOW
• 2022-10-19 Price Changed $30,000 MLSNOW
• 2022-09-21 Price Changed $33,000 MLSNOW
• 2022-08-24 Listed $38,000 MLSNOW
• 2007-04-25 Listing Removed — NORIS
• 2006-10-25 Listed $64,900 NORIS
• 2004-10-05 Sold (Public Records) $44,000 Public Records
• 2004-09-30 Sold (MLS) $44,000 NORIS
• 2004-06-08 Listed $49,900 NORIS
• 1998-05-19 Sold (Public Records) $40,000 Public Records
• 1988-10-26 Sold (Public Records) $14,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $1,147 · +1.0% YoY. Source: county tax records.