308 Columbia St · Toledo, OH 43620

$130,000

64 bd · 64.0 ba · 8,547 sqft · MultiFamily public records · 64 Days on market

Built 1907 $15/sqft · 31% below area Est $187k · 30% under ↓ 6% since listing

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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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• 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 (5+ Unit). Listing-text estimate: 8 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Check out this 8 unit investment deal of the year located in the Old West End. Add to your portfolio and build equity by rehabbing the property and getting it ready for rental. Call to schedule a private showing today!!

Key facts

• Built 1907
• Listed 64 days

What this means for you Summary

Snapshot

• This is a 8 × 8-bed/8.0-bath units multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $7k ($86k/yr) — positive. Per door: $896/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 72.5% 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: 22 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 $10,211/mo this rent would consume 572% of the median local household income ($21k/yr) — 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 $899 of loan paydown is wiped out by about $4k 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 + 3.0% rent growth), your $36k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $122,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 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 1907 — 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. 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?
10. 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.
11. 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.
12. 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: 7.85% ✓
• Cap rate: 72.46%
• Cash-on-cash: 236.32%
• DSCR: 11.51
• GRM: 1.1

CMA / ARV

• ARV (median comp): $186,879
• List price: $130,000
• Delta: -30.44%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 12.97×
• Total profit: $435,641
• Equity at exit: $19,383

10-year hold

• IRR: —
• Equity multiple: 27.59×
• Total profit: $967,858
• Equity at exit: $11,240

Cash invested: $36,400 (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 43620

• Home prices YoY: -33.0%
• Active inventory: 22
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $10,211 medium
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,144
• Net cashflow: $7,168

Break-even live

Break-even rent $1,137

Max offer price $130,000

Occupancy floor 25%

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

Units	Beds	Baths	Est. rent
▸ 8× units	8	8	$10,208
Total (8 units)			$10,211

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $130,000 Active 64 DOM
2. 2026-06-17
   days on market $130,000 Active 63 DOM
3. 2026-06-16
   days on market $130,000 Active 62 DOM
4. 2026-06-15
   days on market $130,000 Active 61 DOM
5. 2026-06-14
   days on market $130,000 Active 59 DOM
6. 2026-06-10
   days on market $130,000 Active 56 DOM
7. 2026-06-09
   days on market $130,000 Active 55 DOM
8. 2026-06-08
   days on market $130,000 Active 54 DOM
9. 2026-06-07
   days on market $130,000 Active 53 DOM
10. 2026-06-05
    days on market $130,000 Active 50 DOM
11. 2026-06-03
    days on market $130,000 Active 49 DOM
12. 2026-06-02
    days on market $130,000 Active 48 DOM
13. 2026-06-01
    days on market $130,000 Active 47 DOM
14. 2026-05-31
    days on market $130,000 Active 46 DOM
15. 2026-05-30
    days on market $130,000 Active 45 DOM
16. 2026-05-07
    price $150,000 221-char remark

    Show marketing remark (221 chars)

    Check out this 8 unit investment deal of the year located in the Old West End. Add to your portfolio and build equity by rehabbing the property and getting it ready for rental. Call to schedule a private showing today!!

17. 2026-04-13
    listed $160,000 Active 221-char remark

    Show marketing remark (221 chars)

    Check out this 8 unit investment deal of the year located in the Old West End. Add to your portfolio and build equity by rehabbing the property and getting it ready for rental. Call to schedule a private showing today!!

ⓘ 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 ≥100°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: $122,532
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$650
• − Repairs & maintenance: −$9,803
• − Management: −$9,803
• − Depreciation: −$3,782
• Taxable income: $89,263
• Est. tax owed @ 24.0%: −$21,423
• After-tax cash flow: $64,596/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 · 437,818 people
• City population: 280,811
• Metro: Toledo, OH
• Population (ZIP): 5,039
• Household income: $21,405
• Rent vs Own: 70.9% rent · 29.1% own
• Severe rent burden: 2.1

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 0.60)
• Race & ethnicity: Black 51% White 36% Hispanic / Latino 9% Two or more races 7%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Romanian 4% Lithuanian 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Other Indo-European 1% Tagalog/Filipino 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: ▼ -63.87%
• Current HPI: 129.7922
• Rent YoY: —
• Metro: —
• 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

-6.2% since first listed

2 events — show timeline

• 2026-05-07 Price Changed $150,000 NORIS
• 2026-04-13 Listed $160,000 NORIS

Property tax history

+12.4%/yr

Latest (2025): $8,269 · +4.2% YoY. Source: county tax records.