227 Marion St · Toledo, OH 43609

$69,900

2 bd · 1.0 ba · 940 sqft · SingleFamily public records · 6 Days on market

Built 1910 4,200 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.4/10.0
• Rent growth +4.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks MLS

Renovated 2 bed 1 bath ready for an Investor or new home owner. Fresh paint throughout home. Updated Kitchen and bathroom. New light fixtures in all rooms. New roof, and newer windows. Lifeproof vinyl floors throughout home. New carpet in both bedrooms. Home sits on a fenced double lot. Being sold "As Is." American Home Shield home warranty for one year.

Key facts

• Covered front porch
• Tenant occupied
• Recent updates

Tags

• INVESTMENT OPPORTUNITY
• TENANT OCCUPIED
• RECENT UPDATES
• COVERED FRONT PORCH

Property features AI

Exterior

• Parking: Gravel parking for 2 vehicles
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer; Cable available; Fiber not available
• Home design: Single-family residence; One story
• Construction: Wood siding exterior; Block foundation; Built (year per public records)
• Exterior features: Shingle roof

Interior

• Kitchen: Kitchen on main level
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: 5 total rooms; Other interior features; Basement present (block foundation)
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $394 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 13.1% 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: Arlington Elementary School (math 12% / reading 14%, grade F, #1,429 of 1,584 statewide, top 90%, 327 students, 0% FRL); Jesup W. Scott High School (math 8% / reading 17%, grade F, #726 of 781 statewide, top 94%, 736 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 (+7.8%/yr); 99 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• This rent runs 31% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $1k of equity ($483 loan paydown + $524 appreciation (0.8% local appreciation)).
• Lucas County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.8% appreciation + 7.8% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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 $40k; list at $70k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $69,900

Questions for the listing agent

1. Built in 1910 — 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: 1.56% ✓
• Cap rate: 13.06%
• Cash-on-cash: 24.18%
• DSCR: 2.08
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $45,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
710 Western Ave	0.09mi	2/1.0	1,028 (+9%)	8mo	$72,500	$71	73
517 Knower St	0.38mi	3/1.0 (+1)	966 (+3%)	1mo	$65,000	$67	72
267 Leland Ave	0.50mi	2/1.0	969 (+3%)	9mo	$87,000	$90	64
58 City Park	0.31mi	3/1.0 (+1)	1,008 (+7%)	7mo	$45,000	$45	63
616 Pleasant Pl	0.53mi	3/1.5 (+1)	941 (+0%)	6mo	$45,000	$48	62
356 Sumner St	0.59mi	2/1.0	910 (-3%)	8mo	$24,900	$27	60
930 Colburn St	0.60mi	3/1.0 (+1)	938 (-0%)	12mo	$45,000	$48	57
109 Wellington St	0.66mi	2/1.0	859 (-9%)	3mo	$4,500	$5	52
638 Knower St	0.29mi	3/1.0 (+1)	1,035 (+10%)	16mo	$12,100	$12	52
910 Orchard St	0.67mi	2/1.0	888 (-6%)	10mo	$25,000	$28	51
570 Orchard St	0.56mi	2/1.5	836 (-11%)	7mo	$40,000	$48	48
315 Sumner St	0.60mi	2/1.0	860 (-8%)	15mo	$27,000	$31	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.75% appreciation · 7.8% rent growth · sell at horizon

5-year hold

• IRR: 30.0%
• Equity multiple: 2.59×
• Total profit: $31,094
• Equity at exit: $22,956

10-year hold

• IRR: 35.4%
• Equity multiple: 5.93×
• Total profit: $96,545
• Equity at exit: $29,816

Cash invested: $19,572 (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 43609

• Home prices YoY: 0.3%
• Rents YoY: 7.8%
• Active inventory: 99
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,090 high
• Mortgage (P&I): −$367
• Tax from tax record: −$71 /mo · $855/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $394

Break-even live

Break-even rent $591

Max offer price $69,900

Occupancy floor 59%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
223 Charles St Toledo, OH	2.0	1.0	612	$875	$1.43	43d	1	0.27mi
416 Maumee Ave Unit D Toledo, OH	1.0	1.0	622	$475	$0.76	43d	1	0.37mi
827 Colburn St Toledo, OH	2.0	1.0	1092	$750	$0.69	43d	1	0.50mi
244 Knower St Toledo, OH	3.0	1.0	1120	$995	$0.89	13d	1	0.54mi
771 Orchard St Unit 7715 Toledo, OH	2.0	1.0	1086	$645	$0.59	23d	1	0.61mi
400 Nebraska Ave Toledo, OH	1.0	1.0	664	$1,129	$1.70	13d	1	0.80mi
1037 Orchard St Toledo, OH	2.0	1.0	696	$820	$1.18	21d	1	0.83mi
1321 Gordon St Toledo, OH	3.0	1.0	1121	$1,050	$0.94	43d	1	0.96mi
34 S Erie St Unit 202 Toledo, OH	1.0	1.0	894	$1,275	$1.43	23d	1	1.05mi
34 S Erie St Unit 107 Toledo, OH	1.0	1.0	1103	$1,300	$1.18	23d	1	1.05mi
34 S Erie St Unit 409 Toledo, OH	1.0	1.0	930	$1,375	$1.48	43d	1	1.05mi
34 S Erie St Apt 602 Toledo, OH	1.0	1.0	894	$1,315	$1.47	43d	1	1.05mi
34 S Erie St Unit 611 Toledo, OH	1.0	1.0	990	$1,300	$1.31	43d	1	1.05mi
34 S Erie St Unit 209 Toledo, OH	1.0	1.0	930	$1,375	$1.48	23d	1	1.05mi
15 S Ontario St Apt 409 Toledo, OH	1.0	1.0	984	$1,695	$1.72	43d	1	1.09mi
1 S Erie St Toledo, OH	1.0	1.0	846	$1,410	$1.67	13d	1	1.12mi
1418 Colburn St Toledo, OH	3.0	1.0	992	$1,200	$1.21	13d	1	1.13mi
1521 Emma St Unit LABS 1521 Emma St, B 43051619729 Toledo, OH	1.0	1.0	975	$900	$0.92	43d	1	1.22mi
23 N Summit St Toledo, OH	1.0	1.0	838	$1,475	$1.76	13d	2	1.25mi
538 Nicholas St Unit B Toledo, OH	1.0	1.0	600	$600	$1.00	43d	1	1.34mi
123 Water St Unit 411 Toledo, OH	1.0	1.0	747	$1,380	$1.85	23d	1	1.35mi
123 Water St Unit 307 Toledo, OH	1.0	1.0	914	$1,445	$1.58	43d	1	1.35mi
705 Nicholas St Toledo, OH	2.0	1.0	1037	$900	$0.87	43d	1	1.38mi
200 N St Clair St Toledo, OH	2.0	1.0–2.0	835	$2,550	$3.05	13d	15	1.42mi

Listing history 6 events

1. 2026-06-18
   days on market $69,900 Active 6 DOM
2. 2026-06-17
   days on market $69,900 Active 5 DOM
3. 2026-06-16
   days on market $69,900 Active 4 DOM
4. 2026-06-15
   days on market $69,900 Active 3 DOM
5. 2026-06-14
   remarks 463-char remark
6. 2026-06-14
   listed $69,900 Active 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: $855 · $71/mo
• Projected year-2 tax: $973 · $81/mo
• Expected delta: +$118/yr (+$10/mo · 13.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 65% 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: $13,082
• − Mortgage interest: −$3,915
• − Property taxes: −$855
• − Insurance: −$350
• − Repairs & maintenance: −$1,047
• − Management: −$1,047
• − Depreciation: −$2,033
• Taxable income: $3,835
• Est. tax owed @ 24.0%: −$921
• After-tax cash flow: $3,811/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): 21,404
• Household income: $42,313
• Rent vs Own: 55.7% rent · 44.3% own
• Severe rent burden: 1603.0

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 0.66)
• Race & ethnicity: White 47% Black 29% Hispanic / Latino 17% Two or more races 9%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Arabic 1% French/Haitian/Cajun 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: ▲ 0.75%
• Current HPI: 235.2515
• Rent YoY: ▲ 7.80%
• 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

+417.8% since first listed

7 events — show timeline

• 2026-06-12 Listed $69,900 NORIS
• 2025-10-14 Price Changed $40,000 NORIS
• 2022-12-06 Pending — NORIS
• 2022-12-06 Sold (MLS) $40,000 NORIS
• 2022-10-28 Contingent — NORIS
• 2022-09-17 Listed $48,500 NORIS
• 1995-10-04 Sold (Public Records) $13,500 Public Records

Property tax history

+4.0%/yr

Latest (2025): $855 · +1.7% YoY. Source: county tax records.