963 Mc Kinley Ave · Toledo, OH 43605

$79,900

4 bd · 2.0 ba · 2,588 sqft · MultiFamily public records · 90 Days on market

Built 1914 Est $107k · 25% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Duplex priced to sell! Each unit has 2 bedrooms/1 bathroom. Good investment property for the price.

Key facts

• 2 parking spots
• Built 1914
• Listed 90 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $80k.

Deal economics

• At list price, monthly cash flow is $978 ($12k/yr) — positive. Per door: $489/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 21.0% 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-, 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 (+5.4%/yr); 117 active listings in the ZIP; lower-income renter base — watch delinquency; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• At $1,960/mo this rent would consume 60% of the median local household income ($39k/yr) (locally 1257% 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 $552 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 $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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 $40k; list at $80k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 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 1914 — 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: 2.45% ✓
• Cap rate: 20.98%
• Cash-on-cash: 52.46%
• DSCR: 3.33
• GRM: 3.4

CMA / ARV

• ARV (median comp): $106,923
• List price: $79,900
• Delta: -25.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
969 Berry St	0.25mi	5/2.0 (+1)	2,354 (-9%)	16mo	$122,500	$52	55
810 Euclid Ave	0.65mi	4/2.0	2,396 (-7%)	11mo	$62,500	$26	48
702 Clark St	0.45mi	4/2.0	2,242 (-13%)	11mo	$62,500	$28	48

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: 53.2%
• Equity multiple: 3.42×
• Total profit: $54,171
• Equity at exit: $11,913

10-year hold

• IRR: 59.3%
• Equity multiple: 7.62×
• Total profit: $148,158
• Equity at exit: $6,908

Cash invested: $22,372 (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: $1,960 high
• Mortgage (P&I): −$419
• Tax from tax record: −$118 /mo · $1,417/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $978

Break-even live

Break-even rent $722

Max offer price $79,900

Occupancy floor 45%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,960
Total (2 units)			$1,960

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   days on market $79,900 Active 90 DOM
2. 2026-06-17
   days on market $79,900 Active 89 DOM
3. 2026-06-16
   days on market $79,900 Active 88 DOM
4. 2026-06-15
   days on market $79,900 Active 87 DOM
5. 2026-06-14
   days on market $79,900 Active 85 DOM
6. 2026-06-10
   days on market $79,900 Active 82 DOM
7. 2026-06-09
   days on market $79,900 Active 81 DOM
8. 2026-06-09
   status $79,900 Active 80 DOM
9. 2026-06-08
   days on market $79,900 Contingent 80 DOM
10. 2026-06-07
    days on market $79,900 Contingent 79 DOM
11. 2026-06-05
    days on market $79,900 Contingent 76 DOM
12. 2026-06-03
    days on market $79,900 Contingent 75 DOM
13. 2026-06-02
    days on market $79,900 Contingent 74 DOM
14. 2026-06-01
    days on market $79,900 Contingent 73 DOM
15. 2026-05-31
    days on market $79,900 Contingent 72 DOM
16. 2026-05-30
    days on market $79,900 Contingent 71 DOM
17. 2026-05-15
    historical Contingent 99-char remark

    Show marketing remark (99 chars)

    Duplex priced to sell! Each unit has 2 bedrooms/1 bathroom. Good investment property for the price.

18. 2026-03-20
    listed $79,900 Active 99-char remark

    Show marketing remark (99 chars)

    Duplex priced to sell! Each unit has 2 bedrooms/1 bathroom. Good investment property for the price.

19. 2025-11-30
    historical
20. 2025-11-11
    price $86,000
21. 2025-10-02
    price $95,900
22. 2025-09-02
    price $105,900
23. 2025-08-02
    listed $109,900 Active
24. 2025-07-25
    historical
25. 2025-06-30
    status Active
26. 2025-05-02
    status Pending
27. 2025-03-31
    historical Contingent
28. 2025-02-14
    listed $120,000 Active
29. 1999-02-25
    soldstatus $40,000
30. 1995-08-04
    soldstatus $23,900

ⓘ 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: $1,417 · $118/mo
• Projected year-2 tax: $1,417 · $118/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: $23,520
• − Mortgage interest: −$4,476
• − Property taxes: −$1,417
• − Insurance: −$400
• − Repairs & maintenance: −$1,882
• − Management: −$1,882
• − Depreciation: −$2,324
• Taxable income: $11,141
• Est. tax owed @ 24.0%: −$2,674
• After-tax cash flow: $9,063/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

+234.3% since first listed

14 events — show timeline

• 2026-05-15 Contingent — NORIS
• 2026-03-20 Listed $79,900 NORIS
• 2025-11-30 Listing Removed — NORIS
• 2025-11-11 Price Changed $86,000 NORIS
• 2025-10-02 Price Changed $95,900 NORIS
• 2025-09-02 Price Changed $105,900 NORIS
• 2025-08-02 Listed $109,900 NORIS
• 2025-07-25 Listing Removed — NORIS
• 2025-06-30 Relisted — NORIS
• 2025-05-02 Pending — NORIS
• 2025-03-31 Contingent — NORIS
• 2025-02-14 Listed $120,000 NORIS
• 1999-02-25 Sold (Public Records) $40,000 Public Records
• 1995-08-04 Sold (Public Records) $23,900 Public Records

Property tax history

+1.8%/yr

Latest (2025): $1,417 · +1.8% YoY. Source: county tax records.