127 University Blvd Unit 127 & 129 · Toledo, OH 43614

$214,900

4 bd · 2.0 ba · — sqft · Condo · 247 Days on market

Built 1907 Fair condition ↓ 4% since listing

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.2/30.0
• Rent growth +4.5/5.0
• Livability +3.3/5.0
• Condition / age +2.2/5.0
• Schools +1.6/10.0
• 1% rule +1.4/10.0
• DSCR +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained duplex in Harvard Terrace. Stable rental history. Garage parking. Great investment opportunity! Don't miss out!

Key facts

• 6,200 sq ft lot
• 2 garage spots
• Built 1907

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath condo listed at $215k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-392 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (26.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (35.6% below list).
• Recommended offer: $138k (35.6% below list) — sets the bar for 1% rule.
• Cap rate 4.1% vs local median 7.6% in Toledo — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 fast (+8.0%/yr); 71 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $6k 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 247 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $138,380 (35.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 247 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.64% ✗
• Cap rate: 4.10%
• Cash-on-cash: -7.82%
• DSCR: 0.65
• GRM: 12.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -24.6%
• Equity multiple: 0.13×
• Total profit: $-52,451
• Equity at exit: $32,042

10-year hold

• IRR: -10.0%
• Equity multiple: 0.26×
• Total profit: $-44,446
• Equity at exit: $18,581

Cash invested: $60,172 (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 43614

• Home prices YoY: -22.4%
• Rents YoY: 8.0%
• Active inventory: 71
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $1,384 high
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,224/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $-392

Break-even live

Break-even rent $1,880

Max offer price $158,188

Occupancy floor —

Sensitivity live

Price	-10% $-243	-5% $-318	+0% $-392	+5% $-466	+10% $-540
Rent	-10% $-501	-5% $-447	+0% $-392	+5% $-337	+10% $-283
Rate	-1.0pp $-284	-0.5pp $-337	base $-392	+0.5pp $-448	+1.0pp $-504

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2802 Broadway St Unit 1 Toledo, OH	3.0	1.0	1650	$1,400	$0.85	14d	1	0.08mi
825 Brighton Ave Toledo, OH	3.0	1.0	1533	$1,350	$0.88	44d	1	0.64mi
2424 Broadway St Toledo, OH	3.0	1.0	1416	$1,049	$0.74	14d	1	0.80mi
1309 Corry Ave Toledo, OH	3.0	1.0	—	$1,300	—	24d	1	0.82mi
724 Spencer St Toledo, OH	3.0	1.5	1127	$1,100	$0.98	44d	1	0.82mi
1510 Watova Rd Toledo, OH	3.0	1.0	1197	$1,495	$1.25	22d	1	0.95mi
532 Carlton St Toledo, OH	3.0	1.0	1130	$1,050	$0.93	44d	1	1.00mi
523 Nicholas St Toledo, OH	3.0	1.0	1290	$1,350	$1.05	14d	1	1.00mi
1418 Colburn St Toledo, OH	3.0	1.0	992	$1,200	$1.21	14d	1	1.07mi
1127 Harding Dr Toledo, OH	3.0	1.0	—	$1,125	—	44d	1	1.09mi
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	44d	1	1.34mi
569 Colima Dr Toledo, OH	3.0	1.0	1253	$1,300	$1.04	24d	1	1.36mi
619 Durango Dr Toledo, OH	3.0	1.0	1276	$1,350	$1.06	44d	1	1.36mi
1021 Walbridge Ave Toledo, OH	3.0	1.0	1592	$975	$0.61	44d	1	1.45mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $214,900 Active 247 DOM
2. 2026-06-17
   days on market $214,900 Active 246 DOM
3. 2026-06-16
   days on market $214,900 Active 245 DOM
4. 2026-06-15
   days on market $214,900 Active 244 DOM
5. 2026-06-14
   days on market $214,900 Active 242 DOM
6. 2026-06-10
   days on market $214,900 Active 239 DOM
7. 2026-06-09
   days on market $214,900 Active 238 DOM
8. 2026-06-08
   days on market $214,900 Active 237 DOM
9. 2026-06-07
   days on market $214,900 Active 236 DOM
10. 2026-06-05
    days on market $214,900 Active 233 DOM
11. 2026-06-03
    days on market $214,900 Active 232 DOM
12. 2026-06-02
    days on market $214,900 Active 231 DOM
13. 2026-06-01
    days on market $214,900 Active 230 DOM
14. 2026-05-31
    days on market $214,900 Active 229 DOM
15. 2026-05-30
    days on market $214,900 Active 228 DOM
16. 2026-02-26
    price $214,900 131-char remark

    Show marketing remark (131 chars)

    Well maintained duplex in Harvard Terrace. Stable rental history. Garage parking. Great investment opportunity! Don't miss out!

17. 2025-11-05
    price $219,900 131-char remark

    Show marketing remark (131 chars)

    Well maintained duplex in Harvard Terrace. Stable rental history. Garage parking. Great investment opportunity! Don't miss out!

18. 2025-10-13
    listed $224,900 Active 131-char remark

    Show marketing remark (131 chars)

    Well maintained duplex in Harvard Terrace. Stable rental history. Garage parking. Great investment opportunity! Don't miss out!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,606
• − Mortgage interest: −$12,038
• − Property taxes: −$3,224
• − Insurance: −$1,074
• − Repairs & maintenance: −$1,328
• − Management: −$1,328
• − Depreciation: −$6,252
• Taxable loss: −$8,639
• Est. tax savings @ 24.0%: +$2,073
• After-tax cash flow: $-2,630/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.

Condition & rehab AI · 6 photos

Fair 45/100 Moderate rehab

A fair condition, moderate rehab needed to improve curb appeal and value. Consider painting and trimming for a better look.

Repairs flagged

• Major Exterior siding — Significant weathering and discoloration
• Major Landscaping — Overgrown bushes need trimming

Value-add opportunities

• Both Paint exterior walls — Enhances curb appeal and value
• Both Trim bushes — Improves landscaping and enhances curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Significant weathering and discoloration	Major	$15,000–50,000
Landscaping · Overgrown bushes need trimming	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Paint exterior walls — Enhances curb appeal and value ↑
• Both Trim bushes — Improves landscaping and enhances curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 29,075
• Household income: $58,961
• Rent vs Own: 40.7% rent · 59.3% own
• Severe rent burden: 1407.0

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 (67%)
• Race & ethnicity: White 67% Black 21% Hispanic / Latino 7% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Romanian 8% Italian 5% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Other Indo-European 1% 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: ▼ -61.96%
• Current HPI: 214.7031
• Rent YoY: ▲ 8.03%
• 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

-4.4% since first listed

3 events — show timeline

• 2026-02-26 Price Changed $214,900 NORIS
• 2025-11-05 Price Changed $219,900 NORIS
• 2025-10-13 Listed $224,900 NORIS