1015 Varland Ave · Toledo, OH 43605

$89,900

3 bd · 1.0 ba · 1,341 sqft · SingleFamily public records · 50 Days on market

Built 1897 3,400 sqft lot $67/sqft · 70% above area

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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 +27.8/30.0
• DSCR +9.8/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• 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

Don't miss your chance. Nice 3 bedroom home for the money cheaper then renting. This home is rented now mo to mo for $650.mo tenant pays all utilities and would like to stay. Privacy fenced in back yard. Across from the park, close to bus line , & community center. Please give good notice for showings. Furnace & HWT about 10yrs Roof and windows 12 yrs No showings after 5:00pm

Key facts

• Immediate cash flow
• Currently leased
• 3,400 sq ft lot

Tags

• IMMEDIATE CASH FLOW
• CURRENTLY LEASED
• TURNKEY INVESTMENT OPPORTUNITY

Property features AI

Exterior

• Parking: On-street parking (1 total)
• Utilities: Electricity connected; Natural gas connected; Public water; Sanitary sewer connected
• Home design: Single-family house; One and one-half levels; No shared/common walls
• Construction: Vinyl siding; Block foundation; Shingle roof; Built year from public records
• Exterior features: Front porch; Partial wood fencing; Corner lot

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Primary bedroom on the upper level; Two additional bedrooms on the upper level
• Flooring: Carpet; Luxury vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: 6 total rooms; Other interior features; Partial, unfinished basement
• Laundry & utility: Washer hookup; Electric dryer hookup on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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: East Broadway Elementary School (math 4% / reading 11%, grade F, #1,518 of 1,584 statewide, top 96%, 411 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; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 34% 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 $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.
• At projected returns (-3.0% appreciation + 5.4% rent growth), your $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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 $28k; list at $90k implies a 221% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1897 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.22% ✓
• Cap rate: 9.96%
• Cash-on-cash: 13.08%
• DSCR: 1.58
• GRM: 6.8

CMA / ARV

• ARV (median comp): $52,906
• List price: $89,900
• Delta: 69.92%
• 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
937 Berry St	0.18mi	3/1.0	1,282 (-4%)	3mo	$63,000	$49	82
1207 E Broadway St	0.18mi	3/1.0	1,400 (+4%)	7mo	$102,000	$73	79
1308 Halstead St	0.21mi	3/1.0	1,246 (-7%)	6mo	$40,050	$32	74
1129 Camden St	0.30mi	3/1.0	1,260 (-6%)	4mo	$55,000	$44	73
1127 Varland Ave	0.08mi	2/1.0 (-1)	1,227 (-8%)	5mo	$28,050	$23	73
847 Mckinley Ave	0.46mi	3/1.0	1,412 (+5%)	7mo	$110,000	$78	64
1230 Hirzel St	0.23mi	4/2.0 (+1)	1,496 (+12%)	3mo	$140,000	$94	58
1122 Vinal St	0.39mi	4/1.0 (+1)	1,180 (-12%)	1mo	$123,400	$105	56
833 Kingston Ave	0.53mi	3/1.0	1,202 (-10%)	3mo	$140,000	$116	56
715 Raymer Blvd	0.52mi	3/2.0	1,481 (+10%)	3mo	$71,500	$48	52
1537 Akron St	0.74mi	3/2.0	1,188 (-11%)	3mo	$131,500	$111	40
1439 Holmes St	0.66mi	4/2.0 (+1)	1,506 (+12%)	7mo	$152,000	$101	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: 5.6%
• Equity multiple: 1.22×
• Total profit: $5,594
• Equity at exit: $13,404

10-year hold

• IRR: 17.0%
• Equity multiple: 2.55×
• Total profit: $38,936
• 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 43605

• Home prices YoY: -25.6%
• Rents YoY: 5.4%
• Active inventory: 117
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,099 high
• Mortgage (P&I): −$471
• Tax from tax record: −$85 /mo · $1,022/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $274

Break-even live

Break-even rent $752

Max offer price $89,900

Occupancy floor 70%

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 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
921 Berry St Toledo, OH	4.0	1.0	1204	$1,350	$1.12	14d	1	0.22mi
908 Forsythe St Unit Downstairs Toledo, OH	3.0	1.0	1164	$950	$0.82	43d	1	0.22mi
908 Forsythe St Unit Upstairs Toledo, OH	2.0	1.0	1164	$900	$0.77	14d	1	0.22mi
606 Earl St Toledo, OH	3.0	1.5	1700	$1,150	$0.68	21d	1	0.27mi
1106 White St Toledo, OH	3.0	1.0	1200	$1,015	$0.85	14d	1	0.27mi
948 White St Toledo, OH	3.0	1.0	1024	$1,135	$1.11	14d	1	0.34mi
946 Butler St Toledo, OH	2.0	1.0	944	$650	$0.69	43d	1	0.38mi
1505 Navarre Ave Toledo, OH	3.0	1.0	1331	$1,145	$0.86	43d	1	0.48mi
834 Oak St Toledo, OH	3.0	1.0	1064	$900	$0.85	43d	1	0.61mi
1537 Remington St Toledo, OH	3.0	1.0	1064	$1,095	$1.03	43d	1	0.68mi
1614 Nevada St Toledo, OH	2.0	1.0	1172	$1,000	$0.85	21d	1	0.71mi
537 Potter St Toledo, OH	2.0	1.0	1200	$625	$0.52	23d	1	0.81mi
29 Garfield Pl Toledo, OH	4.0	2.0	1300	$1,250	$0.96	14d	1	0.84mi
653 Oswald St Toledo, OH	2.0	1.0	920	$800	$0.87	43d	1	0.95mi
732 Coyne Ave Toledo, OH	3.0	1.0	968	$1,145	$1.18	14d	1	1.01mi
722 Coyne Ave Toledo, OH	2.0	1.0	900	$1,000	$1.11	14d	1	1.02mi
420 Platt St Toledo, OH	2.0	1.0	1499	$685	$0.46	21d	1	1.06mi
2129 Nevada St Toledo, OH	3.0	1.0	1352	$1,200	$0.89	14d	1	1.07mi
20 Greenwood Ave Toledo, OH	3.0	1.0	1496	$1,150	$0.77	14d	1	1.07mi
414 Platt St Unit ST-3 Toledo, OH	3.0	1.0	1500	$1,150	$0.77	23d	1	1.07mi
245 Plymouth St Toledo, OH	3.0	1.0	1600	$1,125	$0.70	14d	1	1.10mi
470 2nd St Unit 1 Toledo, OH	2.0	1.0	950	$799	$0.84	43d	1	1.15mi
2074 Starr Ave Toledo, OH	3.0	1.0	1115	$1,025	$0.92	23d	1	1.16mi
223 Valleywood Dr Toledo, OH	2.0	1.0	1098	$1,099	$1.00	23d	1	1.18mi
2337 Burnside Ave Oregon, OH	2.0	1.0	1025	$1,150	$1.12	14d	1	1.39mi
1306 Mott Ave Toledo, OH	3.0	1.5	1282	$1,149	$0.90	43d	1	1.40mi
1305 Mott Ave Toledo, OH	3.0	1.0	1080	$1,000	$0.93	43d	1	1.41mi
2401 Burnside Ave Oregon, OH	2.0	1.0	1025	$1,150	$1.12	14d	1	1.43mi
221 Licking St Unit 2 Toledo, OH	3.0	1.0	1048	$1,099	$1.05	23d	1	1.44mi
625 Riverside Dr Toledo, OH	1.0–2.0	1.0–2.0	860	$1,767	$2.05	14d	37	1.50mi

Listing history 27 events

1. 2026-06-18
   days on market $89,900 Active 50 DOM
2. 2026-06-17
   days on market $89,900 Active 49 DOM
3. 2026-06-16
   days on market $89,900 Active 48 DOM
4. 2026-06-15
   days on market $89,900 Active 47 DOM
5. 2026-06-14
   days on market $89,900 Active 45 DOM
6. 2026-06-10
   days on market $89,900 Active 42 DOM
7. 2026-06-09
   days on market $89,900 Active 41 DOM
8. 2026-06-08
   days on market $89,900 Active 40 DOM
9. 2026-06-07
   days on market $89,900 Active 39 DOM
10. 2026-06-05
    days on market $89,900 Active 36 DOM
11. 2026-06-03
    days on market $89,900 Active 35 DOM
12. 2026-06-02
    days on market $89,900 Active 34 DOM
13. 2026-06-01
    days on market $89,900 Active 33 DOM
14. 2026-05-31
    days on market $89,900 Active 32 DOM
15. 2026-05-30
    days on market $89,900 Active 31 DOM
16. 2026-04-01
    listed $89,900 Active 283-char remark
17. 2025-10-14
    price $28,000 386-char remark

    Show marketing remark (386 chars)

    Don't miss your chance. Nice 3 bedroom home for the money cheaper then renting. This home is rented now mo to mo for $650.mo tenant pays all utilities and would like to stay. Privacy fenced in back yard. Across from the park, close to bus line , & community center. Please give good notice for showings. Furnace & HWT about 10yrs Roof and windows 12 yrs No showings after 5:00pm

18. 2024-02-05
    historical $995
19. 2024-01-31
    price $995
20. 2024-01-21
    listed $1,095
21. 2021-07-29
    status Pending 386-char remark

    Show marketing remark (386 chars)

    Don't miss your chance. Nice 3 bedroom home for the money cheaper then renting. This home is rented now mo to mo for $650.mo tenant pays all utilities and would like to stay. Privacy fenced in back yard. Across from the park, close to bus line , & community center. Please give good notice for showings. Furnace & HWT about 10yrs Roof and windows 12 yrs No showings after 5:00pm

22. 2021-07-29
    soldstatus $28,000 Closed 386-char remark

    Show marketing remark (386 chars)

    Don't miss your chance. Nice 3 bedroom home for the money cheaper then renting. This home is rented now mo to mo for $650.mo tenant pays all utilities and would like to stay. Privacy fenced in back yard. Across from the park, close to bus line , & community center. Please give good notice for showings. Furnace & HWT about 10yrs Roof and windows 12 yrs No showings after 5:00pm

23. 2021-07-20
    listed Contingent 386-char remark

    Show marketing remark (386 chars)

    Don't miss your chance. Nice 3 bedroom home for the money cheaper then renting. This home is rented now mo to mo for $650.mo tenant pays all utilities and would like to stay. Privacy fenced in back yard. Across from the park, close to bus line , & community center. Please give good notice for showings. Furnace & HWT about 10yrs Roof and windows 12 yrs No showings after 5:00pm

24. 2021-06-19
    listed $32,500 386-char remark

    Show marketing remark (386 chars)

    Don't miss your chance. Nice 3 bedroom home for the money cheaper then renting. This home is rented now mo to mo for $650.mo tenant pays all utilities and would like to stay. Privacy fenced in back yard. Across from the park, close to bus line , & community center. Please give good notice for showings. Furnace & HWT about 10yrs Roof and windows 12 yrs No showings after 5:00pm

25. 1993-12-09
    soldstatus $11,280
26. 1989-06-23
    soldstatus $18,737
27. 1975-10-07
    soldstatus $17,000

ⓘ 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: $1,022 · $85/mo
• Projected year-2 tax: $1,212 · $101/mo
• Expected delta: +$190/yr (+$16/mo · 18.6%)

ⓘ 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: $13,193
• − Mortgage interest: −$5,036
• − Property taxes: −$1,022
• − Insurance: −$450
• − Repairs & maintenance: −$1,055
• − Management: −$1,055
• − Depreciation: −$2,615
• Taxable income: $1,959
• Est. tax owed @ 24.0%: −$470
• After-tax cash flow: $2,823/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

+428.8% since first listed

12 events — show timeline

• 2026-04-01 Listed $89,900 NORIS
• 2025-10-14 Price Changed $28,000 NORIS
• 2024-02-05 Rental Removed $995 APPFOLIO
• 2024-01-31 Price Changed $995 APPFOLIO
• 2024-01-21 Listed for Rent $1,095 APPFOLIO
• 2021-07-29 Pending — NORIS
• 2021-07-29 Sold (MLS) $28,000 NORIS
• 2021-07-20 Listed — NORIS
• 2021-06-19 Listed $32,500 NORIS
• 1993-12-09 Sold (Public Records) $11,280 Public Records
• 1989-06-23 Sold (Public Records) $18,737 Public Records
• 1975-10-07 Sold (Public Records) $17,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $1,022 · +1.6% YoY. Source: county tax records.