4302 Monroe St · Toledo, OH 43606

$265,000

16 bd · 16.0 ba · 4,707 sqft · MultiFamily public records · 89 Days on market

Built 1945 6,107 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
• Livability +3.3/5.0
• Rent growth +3.1/5.0
• 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 (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Investors! Check out this ALL BRICK 4-unit building seconds away from Toledo Hospital and Westgate area. Each 1 bedroom unit has an updated kitchen & beautiful hardwood floors throughout. New roof 2017. Four car garage with openers. Coin-operated washer & dryer. 3rd floor walk-up attic. Each unit has marked storage closets in basement. Well maintained & professionally managed.Unit 1 is vacant for showings and fully ready to rent. Collect $2700+ per month fully leased.

Key facts

• Hardwood flooring
• All brick building
• Keyless entry

Tags

• ALL BRICK BUILDING
• KEYLESS ENTRY
• HARDWOOD FLOORING
• EAT IN KITCHEN
• SEPARATE STORAGE
• COIN OP WASHER DRYER

Property features AI

Finance

• Financial info: Quadruplex with 4 total units (3 leased, 1 vacant); Tenants pay electricity; Owner pays common area maintenance, exterior maintenance, gas, repairs, sewer, water, snow removal, taxes, and lawn care

Exterior

• Parking: Detached garage; On-street parking; 4 garage spaces (4 parking total)
• Security: Keyless entry
• Utilities: Natural gas connected; Public water; Public sewer; Circuit breaker electric
• Home design: Residential income property (quadruplex); Two levels
• Construction: Brick construction; Block foundation; Basement: block, unfinished
• Exterior features: Shingle roof; Garage structures; Corner lot; City street frontage; Concrete road surface

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Flooring: Carpet; Hardwood
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units
• Interior features: Other
• Laundry & utility: Laundry in basement; Coin laundry

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.0-bath units multifamily listed at $265k.

Deal economics

• At list price, monthly cash flow is $2k ($30k/yr) — positive. Per door: $623/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $265k).
• Recommended offer: $249k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.6% 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: Old Orchard Elementary School (math 12% / reading 23%, grade F, #1,328 of 1,584 statewide, top 84%, 390 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 (+2.3%/yr); 93 active listings in the ZIP; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• At $5,601/mo this rent would consume 100% of the median local household income ($67k/yr) (locally 843% 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 $2k of loan paydown is wiped out by about $8k 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 + 2.3% rent growth), your $74k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($249k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y 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 $182k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $249,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 2.11% ✓
• Cap rate: 17.58%
• Cash-on-cash: 40.30%
• DSCR: 2.79
• GRM: 3.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.29% rent growth · sell at horizon

5-year hold

• IRR: 35.9%
• Equity multiple: 2.51×
• Total profit: $111,940
• Equity at exit: $39,512

10-year hold

• IRR: 42.3%
• Equity multiple: 4.86×
• Total profit: $286,361
• Equity at exit: $22,912

Cash invested: $74,200 (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 43606

• Home prices YoY: -15.5%
• Rents YoY: 2.3%
• Active inventory: 93
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $5,601 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$433 /mo · $5,194/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,176
• Net cashflow: $2,492

Break-even live

Break-even rent $2,447

Max offer price $265,000

Occupancy floor 51%

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$5,600
Total (4 units)			$5,601

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-04-23
   historical Contingent
2. 2026-02-11
   listed $265,000 Active
3. 2025-10-14
   price $182,000 486-char remark

   Show marketing remark (486 chars)

   Investors! Check out this ALL BRICK 4-unit building seconds away from Toledo Hospital and Westgate area. Each 1 bedroom unit has an updated kitchen & beautiful hardwood floors throughout. New roof 2017. Four car garage with openers. Coin-operated washer & dryer. 3rd floor walk-up attic. Each unit has marked storage closets in basement. Well maintained & professionally managed.Unit 1 is vacant for showings and fully ready to rent. Collect $2700+ per month fully leased.

4. 2022-11-29
   soldstatus $182,000
5. 2022-11-10
   soldstatus $182,000 Closed 486-char remark

   Show marketing remark (486 chars)

   Investors! Check out this ALL BRICK 4-unit building seconds away from Toledo Hospital and Westgate area. Each 1 bedroom unit has an updated kitchen & beautiful hardwood floors throughout. New roof 2017. Four car garage with openers. Coin-operated washer & dryer. 3rd floor walk-up attic. Each unit has marked storage closets in basement. Well maintained & professionally managed.Unit 1 is vacant for showings and fully ready to rent. Collect $2700+ per month fully leased.

6. 2022-11-09
   status Pending 486-char remark

   Show marketing remark (486 chars)

   Investors! Check out this ALL BRICK 4-unit building seconds away from Toledo Hospital and Westgate area. Each 1 bedroom unit has an updated kitchen & beautiful hardwood floors throughout. New roof 2017. Four car garage with openers. Coin-operated washer & dryer. 3rd floor walk-up attic. Each unit has marked storage closets in basement. Well maintained & professionally managed.Unit 1 is vacant for showings and fully ready to rent. Collect $2700+ per month fully leased.

7. 2022-09-16
   historical Contingent 486-char remark

   Show marketing remark (486 chars)

   Investors! Check out this ALL BRICK 4-unit building seconds away from Toledo Hospital and Westgate area. Each 1 bedroom unit has an updated kitchen & beautiful hardwood floors throughout. New roof 2017. Four car garage with openers. Coin-operated washer & dryer. 3rd floor walk-up attic. Each unit has marked storage closets in basement. Well maintained & professionally managed.Unit 1 is vacant for showings and fully ready to rent. Collect $2700+ per month fully leased.

8. 2022-08-30
   listed $224,900 Active 486-char remark

   Show marketing remark (486 chars)

   Investors! Check out this ALL BRICK 4-unit building seconds away from Toledo Hospital and Westgate area. Each 1 bedroom unit has an updated kitchen & beautiful hardwood floors throughout. New roof 2017. Four car garage with openers. Coin-operated washer & dryer. 3rd floor walk-up attic. Each unit has marked storage closets in basement. Well maintained & professionally managed.Unit 1 is vacant for showings and fully ready to rent. Collect $2700+ per month fully leased.

9. 2021-05-13
   soldstatus $150,000
10. 2021-05-10
    soldstatus $150,000 392-char remark

    Show marketing remark (392 chars)

    Great investment opportunity! Check out this 4-unit each over 1300 Sq feet of living space. the roof was installed in 2017. Each 1 bedroom unit has an updated kitchen and well maintained. Four car garage with openers. Coin-operated washer & dryer. 3rd floor walk-up attic. Each unit has marked storage closest in basement. This ALL brick building with occupied tenants won't last long!!!

11. 2021-05-08
    price $150,000 392-char remark

    Show marketing remark (392 chars)

    Great investment opportunity! Check out this 4-unit each over 1300 Sq feet of living space. the roof was installed in 2017. Each 1 bedroom unit has an updated kitchen and well maintained. Four car garage with openers. Coin-operated washer & dryer. 3rd floor walk-up attic. Each unit has marked storage closest in basement. This ALL brick building with occupied tenants won't last long!!!

12. 2021-03-08
    listed $149,888 392-char remark

    Show marketing remark (392 chars)

    Great investment opportunity! Check out this 4-unit each over 1300 Sq feet of living space. the roof was installed in 2017. Each 1 bedroom unit has an updated kitchen and well maintained. Four car garage with openers. Coin-operated washer & dryer. 3rd floor walk-up attic. Each unit has marked storage closest in basement. This ALL brick building with occupied tenants won't last long!!!

13. 2006-01-04
    soldstatus $111,122
14. 2005-12-30
    soldstatus $111,122
15. 2005-11-04
    listed $111,122
16. 2005-11-02
    historical
17. 2005-04-12
    listed $155,000
18. 1997-05-02
    soldstatus $106,600

ⓘ 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: $5,194 · $433/mo
• Projected year-2 tax: $5,194 · $433/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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $67,212
• − Mortgage interest: −$14,844
• − Property taxes: −$5,194
• − Insurance: −$1,325
• − Repairs & maintenance: −$5,377
• − Management: −$5,377
• − Depreciation: −$7,709
• Taxable income: $27,386
• Est. tax owed @ 24.0%: −$6,573
• After-tax cash flow: $23,330/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): 24,898
• Household income: $66,917
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 843.0

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 0.57)
• Race & ethnicity: White 59% Black 29% Two or more races 7% Hispanic / Latino 4% Asian 3%
• Common ancestry: Romanian 6% Italian 2% Lithuanian 1%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 92% English-only · Arabic 2% Other Indo-European 2% Spanish 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: ▼ -41.19%
• Current HPI: 224.695
• Rent YoY: ▲ 2.29%
• 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

+148.6% since first listed

18 events — show timeline

• 2026-04-23 Contingent — NORIS
• 2026-02-11 Listed $265,000 NORIS
• 2025-10-14 Price Changed $182,000 NORIS
• 2022-11-29 Sold (Public Records) $182,000 Public Records
• 2022-11-10 Sold (MLS) $182,000 NORIS
• 2022-11-09 Pending — NORIS
• 2022-09-16 Contingent — NORIS
• 2022-08-30 Listed $224,900 NORIS
• 2021-05-13 Sold (Public Records) $150,000 Public Records
• 2021-05-10 Sold (MLS) $150,000 NORIS
• 2021-05-08 Price Changed $150,000 NORIS
• 2021-03-08 Listed $149,888 NORIS
• 2006-01-04 Sold (Public Records) $111,122 Public Records
• 2005-12-30 Sold (MLS) $111,122 NORIS
• 2005-11-04 Listed $111,122 NORIS
• 2005-11-02 Listing Removed — NORIS
• 2005-04-12 Listed $155,000 NORIS
• 1997-05-02 Sold (Public Records) $106,600 Public Records

Property tax history

+2.0%/yr

Latest (2025): $5,194 · +5.0% YoY. Source: county tax records.