1123 Liberty St · Toledo, OH 43605

$74,900

2 bd · 1.0 ba · 1,254 sqft · SingleFamily public records · 10 Days on market

Built 1922 7,400 sqft lot Est $71k · at est.

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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 +27.4/30.0
• DSCR +9.6/10.0
• 1% rule +8.2/10.0
• ARV discount +5.3/15.0
• 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

Listing remarks MLS

Very nice clean two bedroom home situated on a huge double lot with a big two car garage! Why pay rent when you can own this great home! EZ to show, call today to line up your private showing.

Key facts

• 7,400 sq ft lot
• 2 garage spots
• Built 1922

Property features AI

Exterior

• Parking: Detached garage; Driveway; 2-car garage (garage has 2 spaces); Total parking for 4 vehicles
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Block foundation
• Exterior features: Shingle roof; Vinyl siding

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: Bedroom 2 on the main level
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Window unit cooling
• Interior features: Ceiling fans; Hardwood floors; Basement present
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($986 rent vs $75k).
• Cap rate 9.8% vs local median 7.6% in Toledo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• This rent runs 30% of the median local income ($39k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $518 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 + 5.4% rent growth), your $21k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $52k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,900

Questions for the listing agent

1. Built in 1922 — 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: 1.32% ✓
• Cap rate: 9.80%
• Cash-on-cash: 12.53%
• DSCR: 1.56
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $71,478
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1127 Varland Ave	0.20mi	2/1.0	1,227 (-2%)	5mo	$28,050	$23	83
1308 Halstead St	0.35mi	3/1.0 (+1)	1,246 (-1%)	6mo	$40,050	$32	73
937 Berry St	0.38mi	3/1.0 (+1)	1,282 (+2%)	3mo	$63,000	$49	71
1129 Camden St	0.50mi	3/1.0 (+1)	1,260 (+0%)	4mo	$55,000	$44	68
1207 E Broadway St	0.10mi	3/1.0 (+1)	1,400 (+12%)	7mo	$102,000	$73	65
833 Kingston Ave	0.71mi	3/1.0 (+1)	1,202 (-4%)	3mo	$140,000	$116	53
1537 Akron St	0.64mi	3/2.0 (+1)	1,188 (-5%)	3mo	$131,500	$111	50
835 Willow Ave	0.59mi	3/1.0 (+1)	1,109 (-12%)	7mo	$32,000	$29	43
1455 Oak St	0.67mi	3/1.0 (+1)	1,116 (-11%)	5mo	$63,500	$57	41
847 Mckinley Ave	0.65mi	3/1.0 (+1)	1,412 (+13%)	7mo	$110,000	$78	38
635 Milton St	0.72mi	3/1.0 (+1)	1,096 (-13%)	4mo	$36,500	$33	37
1933 Watts Ave	0.69mi	3/1.0 (+1)	1,075 (-14%)	6mo	$176,500	$164	34

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: 5.1%
• Equity multiple: 1.20×
• Total profit: $4,263
• Equity at exit: $11,168

10-year hold

• IRR: 16.7%
• Equity multiple: 2.54×
• Total profit: $32,214
• Equity at exit: $6,476

Cash invested: $20,972 (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: 6.3×

Monthly cashflow live

• Estimated rent: $986 high
• Mortgage (P&I): −$393
• Tax from tax record: −$136 /mo · $1,634/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $219

Break-even live

Break-even rent $709

Max offer price $74,900

Occupancy floor 73%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1106 White St Toledo, OH	3.0	1.0	1200	$1,015	$0.85	14d	1	0.39mi
606 Earl St Toledo, OH	3.0	1.5	1700	$1,150	$0.68	21d	1	0.45mi
908 Forsythe St Unit Downstairs Toledo, OH	3.0	1.0	1164	$950	$0.82	43d	1	0.45mi
908 Forsythe St Unit Upstairs Toledo, OH	2.0	1.0	1164	$900	$0.77	14d	1	0.46mi
948 White St Toledo, OH	3.0	1.0	1024	$1,135	$1.11	14d	1	0.49mi
946 Butler St Toledo, OH	2.0	1.0	944	$650	$0.69	43d	1	0.57mi
912 Willow Ave Toledo, OH	1.0	1.0	900	$850	$0.94	43d	1	0.57mi
1537 Remington St Toledo, OH	3.0	1.0	1064	$1,095	$1.03	43d	1	0.59mi
1505 Navarre Ave Toledo, OH	3.0	1.0	1331	$1,145	$0.86	43d	1	0.62mi
834 Oak St Toledo, OH	3.0	1.0	1064	$900	$0.85	43d	1	0.81mi
1614 Nevada St Toledo, OH	2.0	1.0	1172	$1,000	$0.85	21d	1	0.86mi
1311 Mason St Unit 2 Toledo, OH	1.0	1.0	950	$703	$0.74	14d	1	1.03mi
537 Potter St Toledo, OH	1.0	1.0	1000	$600	$0.60	43d	1	1.03mi
537 Potter St Toledo, OH	2.0	1.0	1200	$625	$0.52	23d	1	1.03mi
732 Coyne Ave Toledo, OH	3.0	1.0	968	$1,145	$1.18	14d	1	1.04mi
722 Coyne Ave Toledo, OH	2.0	1.0	900	$1,000	$1.11	14d	1	1.05mi
2129 Nevada St Toledo, OH	3.0	1.0	1352	$1,200	$0.89	14d	1	1.13mi
653 Oswald St Toledo, OH	2.0	1.0	920	$800	$0.87	43d	1	1.17mi
315 Parker Ave Unit 3 Toledo, OH	1.0	1.0	1029	$799	$0.78	23d	1	1.20mi
2337 Burnside Ave Oregon, OH	2.0	1.0	1025	$1,150	$1.12	14d	1	1.21mi
2401 Burnside Ave Oregon, OH	2.0	1.0	1025	$1,150	$1.12	14d	1	1.25mi
2074 Starr Ave Toledo, OH	3.0	1.0	1115	$1,025	$0.92	23d	1	1.26mi
20 Greenwood Ave Toledo, OH	3.0	1.0	1496	$1,150	$0.77	14d	1	1.29mi
420 Platt St Toledo, OH	2.0	1.0	1499	$685	$0.46	21d	1	1.29mi
245 Plymouth St Toledo, OH	3.0	1.0	1600	$1,125	$0.70	14d	1	1.30mi
414 Platt St Unit ST-3 Toledo, OH	3.0	1.0	1500	$1,150	$0.77	23d	1	1.30mi
223 Valleywood Dr Toledo, OH	2.0	1.0	1098	$1,099	$1.00	23d	1	1.36mi
470 2nd St Unit 1 Toledo, OH	2.0	1.0	950	$799	$0.84	43d	1	1.38mi

Listing history 8 events

1. 2026-06-18
   days on market $74,900 Coming Soon 10 DOM
2. 2026-06-17
   days on market $74,900 Coming Soon 9 DOM
3. 2026-06-16
   days on market $74,900 Coming Soon 8 DOM
4. 2026-06-15
   days on market $74,900 Coming Soon 7 DOM
5. 2026-06-14
   days on market $74,900 Coming Soon 5 DOM
6. 2026-06-10
   days on market $74,900 Coming Soon 2 DOM
7. 2026-06-09
   remarks 344-char remark
8. 2026-06-09
   listed $74,900 Coming Soon 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: $1,634 · $136/mo
• Projected year-2 tax: $1,634 · $136/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: $11,836
• − Mortgage interest: −$4,196
• − Property taxes: −$1,634
• − Insurance: −$374
• − Repairs & maintenance: −$947
• − Management: −$947
• − Depreciation: −$2,179
• Taxable income: $1,559
• Est. tax owed @ 24.0%: −$374
• After-tax cash flow: $2,254/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

+161.0% since first listed

7 events — show timeline

• 2026-06-08 Coming Soon $74,900 NORIS
• 2025-10-09 Price Changed $51,500 NORIS
• 2002-08-21 Sold (MLS) $51,500 NORIS
• 2002-08-20 Sold (Public Records) $51,500 Public Records
• 2002-08-02 Price Changed $52,500 NORIS
• 2002-07-09 Listed $52,500 NORIS
• 1996-09-30 Sold (Public Records) $28,700 Public Records

Property tax history

+1.7%/yr

Latest (2025): $1,634 · +0.1% YoY. Source: county tax records.