2012 Balkan Pl · Toledo, OH 43613

$89,900

2 bd · 1.0 ba · 672 sqft · SingleFamily public records · 27 Days on market

Built 1943 4,100 sqft lot $134/sqft · 69% above area Est $79k · 14% over

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Why this score? — see what drove the D- 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 +17.2/30.0
• DSCR +5.4/10.0
• 1% rule +4.5/10.0
• Rent growth +3.3/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +1.4/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Turnkey investment opportunity in West Toledo. This 3-bedroom, 1-bath home is currently rented for $1,200 per month, providing consistent rental income from day one. A great option for both seasoned investors and buyers looking to begin building a portfolio, this property offers the appeal of an occupied rental with solid long-term potential. With strong rental demand for affordable single-family homes, this could be a valuable addition to your investment strategy

Key facts

• 4,100 sq ft lot
• Garage
• Built 1943

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $65 ($780/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $85k (5.0% below list).
• Recommended offer: $85k (5.0% below list) — sets the bar for 1% rule.

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 (+3.3%/yr); 111 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• This rent is only 16% of the median local income ($64k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 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.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $57k; list at $90k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $85,408 (5.0% below list)

Questions for the listing agent

1. Built in 1943 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.95% ✗
• Cap rate: 7.16%
• Cash-on-cash: 3.10%
• DSCR: 1.14
• GRM: 8.8

CMA / ARV

• ARV (median comp): $79,193
• List price: $89,900
• Delta: 13.52%
• 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
2022 Berdan Ave	0.06mi	2/1.0	712 (+6%)	4mo	$45,198	$63	84
1735 Barrows St	0.33mi	2/1.0	664 (-1%)	7mo	$94,900	$143	77
1831 Talbot St	0.22mi	2/1.0	720 (+7%)	3mo	$52,000	$72	75
1828 Brame Pl	0.33mi	2/1.0	716 (+6%)	5mo	$56,000	$78	70
1752 Marne Ave	0.52mi	2/1.0	640 (-5%)	1mo	$47,600	$74	67
1748 Georgia Ave	0.56mi	2/1.0	648 (-4%)	2mo	$68,500	$106	66
3821 Jackman Rd	0.39mi	2/1.0	736 (+10%)	2mo	$62,000	$84	64
4037 Commonwealth Ave	0.69mi	2/1.0	686 (+2%)	3mo	$106,000	$155	62
1738 Berkshire Pl	0.35mi	2/1.0	624 (-7%)	12mo	$35,000	$56	61
1740 Marlow Rd	0.39mi	2/1.0	726 (+8%)	11mo	$42,500	$59	59
4025 Belmar Ave	0.62mi	2/1.0	723 (+8%)	2mo	$97,000	$134	57
1744 Barrows St	0.32mi	2/1.0	754 (+12%)	14mo	$94,000	$125	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 · 3.3% rent growth · sell at horizon

5-year hold

• IRR: -11.1%
• Equity multiple: 0.60×
• Total profit: $-10,165
• Equity at exit: $13,404

10-year hold

• IRR: -1.4%
• Equity multiple: 0.90×
• Total profit: $-2,432
• Equity at exit: $7,773

Cash invested: $25,172 (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 43613

• Home prices YoY: -20.7%
• Rents YoY: 3.3%
• Active inventory: 111
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $854 high
• Mortgage (P&I): −$471
• Tax from tax record: −$101 /mo · $1,210/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$179
• Net cashflow: $65

Break-even live

Break-even rent $772

Max offer price $89,900

Occupancy floor 87%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2027 Berkshire Pl Toledo, OH	2.0	1.0	600	$845	$1.41	23d	1	0.14mi
1705 Marlow Rd Toledo, OH	2.0	1.0	738	$1,000	$1.36	23d	1	0.44mi
3940 Jackman Rd Unit B Toledo, OH	1.0	1.0	600	$650	$1.08	43d	1	0.46mi
3801 Torrance Dr Unit 3801 4 Toledo, OH	1.0	1.0	750	$600	$0.80	23d	1	0.49mi
3640 Douglas Rd Toledo, OH	1.0	1.0	720	$784	$1.09	43d	1	0.60mi
3160 Matson Apt 27 Toledo, OH	1.0	1.0	567	$725	$1.28	21d	1	0.69mi
3150 Matson Unit 17 Toledo, OH	1.0	1.0	567	$799	$1.41	21d	1	0.70mi
3433 Douglas Rd Unit 3 Toledo, OH	1.0	1.0	750	$755	$1.01	13d	1	0.70mi
4435 Jackman Rd Toledo, OH	1.0–2.0	1.0	725	$922	$1.27	13d	3	0.82mi
2716 Hoehler Dr Toledo, OH	1.0	1.0	720	$600	$0.83	43d	1	0.99mi
2650 Christie St Toledo, OH	1.0–2.0	1.0	800	$849	$1.06	43d	1	1.28mi
2241 W Laskey Rd Toledo, OH	1.0	1.0	600	$695	$1.16	13d	1	1.29mi
4836 Douglas Rd Unit 6 Toledo, OH	1.0	1.0	600	$695	$1.16	23d	1	1.30mi
3805 Berkeley Unit 3 Toledo, OH	1.0	1.0	700	$735	$1.05	13d	1	1.30mi
2255 W Laskey Rd Unit 14 Toledo, OH	2.0	1.0	650	$775	$1.19	21d	1	1.32mi
2255 W Laskey Rd Apt 10 Toledo, OH	2.0	1.0	650	$775	$1.19	13d	1	1.32mi
4912 Douglas Rd Unit 2459-2F Toledo, OH	1.0	1.0	495	$650	$1.31	43d	1	1.36mi
3070 Carskaddon Ave Toledo, OH	1.0–2.0	1.0	805	$1,150	$1.43	13d	1	1.39mi
3045 Ilger Ave Toledo, OH	1.0–2.0	1.0	585	$789	$1.35	13d	8	1.40mi
2956 Central Ave Toledo, OH	1.0	1.0	747	$1,235	$1.65	13d	1	1.43mi
2704 Kenwood Blvd Toledo, OH	1.0–3.0	1.0	825	$1,196	$1.45	13d	71	1.46mi

Listing history 14 events

1. 2026-05-14
   status Pending 468-char remark

   Show marketing remark (468 chars)

   Turnkey investment opportunity in West Toledo. This 3-bedroom, 1-bath home is currently rented for $1,200 per month, providing consistent rental income from day one. A great option for both seasoned investors and buyers looking to begin building a portfolio, this property offers the appeal of an occupied rental with solid long-term potential. With strong rental demand for affordable single-family homes, this could be a valuable addition to your investment strategy

2. 2026-05-07
   price $89,900 468-char remark

   Show marketing remark (468 chars)

   Turnkey investment opportunity in West Toledo. This 3-bedroom, 1-bath home is currently rented for $1,200 per month, providing consistent rental income from day one. A great option for both seasoned investors and buyers looking to begin building a portfolio, this property offers the appeal of an occupied rental with solid long-term potential. With strong rental demand for affordable single-family homes, this could be a valuable addition to your investment strategy

3. 2026-04-21
   listed $99,900 Active 468-char remark

   Show marketing remark (468 chars)

   Turnkey investment opportunity in West Toledo. This 3-bedroom, 1-bath home is currently rented for $1,200 per month, providing consistent rental income from day one. A great option for both seasoned investors and buyers looking to begin building a portfolio, this property offers the appeal of an occupied rental with solid long-term potential. With strong rental demand for affordable single-family homes, this could be a valuable addition to your investment strategy

4. 2025-10-14
   price $57,000 602-char remark

   Show marketing remark (602 chars)

   This WILL be the BEST home you will tour! Let's start in the basement, you'll love the epoxy coated floor - very clean - you won't think twice about letting the littles play down there! Large living room with brand new carpet and paint! Kitchen w/new cupboards and countertops! Pantry & Extra Above Cupboards Stay - Use Where You Want! Large stainless farmhouse style sink! 2 beds on main floor and full bath! All carpet is new throughout! Upstairs is a generous dormer bedroom w/sitting area outside of it! Updated Bathroom! Back yard deck for enjoyment! Det. 1.5 Car Garage too! Home Warranty!

5. 2025-10-09
   price $39,500
6. 2020-09-22
   soldstatus $57,000 602-char remark

   Show marketing remark (602 chars)

   This WILL be the BEST home you will tour! Let's start in the basement, you'll love the epoxy coated floor - very clean - you won't think twice about letting the littles play down there! Large living room with brand new carpet and paint! Kitchen w/new cupboards and countertops! Pantry & Extra Above Cupboards Stay - Use Where You Want! Large stainless farmhouse style sink! 2 beds on main floor and full bath! All carpet is new throughout! Upstairs is a generous dormer bedroom w/sitting area outside of it! Updated Bathroom! Back yard deck for enjoyment! Det. 1.5 Car Garage too! Home Warranty!

7. 2020-09-03
   listed $62,500 602-char remark

   Show marketing remark (602 chars)

   This WILL be the BEST home you will tour! Let's start in the basement, you'll love the epoxy coated floor - very clean - you won't think twice about letting the littles play down there! Large living room with brand new carpet and paint! Kitchen w/new cupboards and countertops! Pantry & Extra Above Cupboards Stay - Use Where You Want! Large stainless farmhouse style sink! 2 beds on main floor and full bath! All carpet is new throughout! Upstairs is a generous dormer bedroom w/sitting area outside of it! Updated Bathroom! Back yard deck for enjoyment! Det. 1.5 Car Garage too! Home Warranty!

8. 2007-03-15
   soldstatus $39,500
9. 2006-12-15
   listed $49,900
10. 2006-12-06
    historical
11. 2006-09-08
    listed $64,900
12. 2002-05-23
    soldstatus $81,600
13. 1997-10-22
    soldstatus $53,000
14. 1990-01-30
    soldstatus $37,000

ⓘ 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: $1,210 · $101/mo
• Projected year-2 tax: $1,306 · $109/mo
• Expected delta: +$96/yr (+$8/mo · 7.9%)

ⓘ 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: $10,249
• − Mortgage interest: −$5,036
• − Property taxes: −$1,210
• − Insurance: −$450
• − Repairs & maintenance: −$820
• − Management: −$820
• − Depreciation: −$2,615
• Taxable loss: −$702
• Est. tax savings @ 24.0%: +$168
• After-tax cash flow: $948/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): 30,780
• Household income: $64,384
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 917.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Black 15% Two or more races 10% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 9% Lithuanian 3% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% 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: ▼ -62.37%
• Current HPI: 239.1345
• Rent YoY: ▲ 3.30%
• 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

+143.0% since first listed

14 events — show timeline

• 2026-05-14 Pending — NORIS
• 2026-05-07 Price Changed $89,900 NORIS
• 2026-04-21 Listed $99,900 NORIS
• 2025-10-14 Price Changed $57,000 NORIS
• 2025-10-09 Price Changed $39,500 NORIS
• 2020-09-22 Sold (MLS) $57,000 NORIS
• 2020-09-03 Listed $62,500 NORIS
• 2007-03-15 Sold (MLS) $39,500 NORIS
• 2006-12-15 Listed $49,900 NORIS
• 2006-12-06 Listing Removed — NORIS
• 2006-09-08 Listed $64,900 NORIS
• 2002-05-23 Sold (Public Records) $81,600 Public Records
• 1997-10-22 Sold (Public Records) $53,000 Public Records
• 1990-01-30 Sold (Public Records) $37,000 Public Records

Property tax history

+0.7%/yr

Latest (2025): $1,210 · -7.8% YoY. Source: county tax records.