1662 Brownstone Blvd Apt 311 · Toledo, OH 43614

$70,000

2 bd · 1.5 ba · 1,208 sqft · Condo public records · 20 Days on market

Built 1974 $58/sqft · 43% below area Est $123k · 43% under $212/mo HOA · 19% of rent

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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 +25.7/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +8.6/10.0
• Rent growth +4.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute South Toledo 2 bed 1.5 bath condo. Garden level unit features LR, DR, master bedroom with tons of closets and access to full bath and in unit washer/dryer hook-ups. Unit currently rented for $875/mo on month to month lease.

Key facts

• $212 HOA
• 2 parking spots
• Built 1974

🏷️ Possibly a rental listed for sale. The $70,000 price doesn't fit this home's estimated sale value (~$122,899) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $70k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 7.6% in Toledo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $484 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 + 8.0% rent growth), your $20k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 27y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; list at $70k implies a 119% gain — meaningful room to come down on a strong offer.

Recommended offer $68,950 (1.5% below list)

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.59% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.25%
• DSCR: 1.46
• GRM: 5.2

CMA / ARV

• ARV (median comp): $122,899
• List price: $70,000
• Delta: -43.53%
• Verdict: UNDERPRICED
• Comps: 20 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 6.5%
• Equity multiple: 1.27×
• Total profit: $5,368
• Equity at exit: $10,437

10-year hold

• IRR: 21.0%
• Equity multiple: 3.34×
• Total profit: $45,873
• Equity at exit: $6,052

Cash invested: $19,600 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,116 high
• Mortgage (P&I): −$367
• Tax from tax record: −$106 /mo · $1,268/yr
• Insurance: −$29
• HOA: −$212
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $167

Break-even live

Break-even rent $904

Max offer price $70,000

Occupancy floor 80%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1801 Brownstone Blvd Toledo, OH	1.0–2.0	1.0–1.5	1054	$1,199	$1.14	21d	1	0.05mi
1812 Glen Valley Dr Toledo, OH	1.0–3.0	1.0–1.5	845	$935	$1.11	44d	1	0.46mi
5123 Ryan Rd Toledo, OH	1.0–2.0	1.0–2.0	830	$999	$1.20	21d	1	0.50mi
2223 Foxbourne Rd Toledo, OH	2.0	1.0	887	$885	$1.00	21d	2	0.61mi
5359 Cresthaven Ln Apt 5 Toledo, OH	1.0	1.0	715	$675	$0.94	44d	1	0.67mi
2342 Old Stone Ct Toledo, OH	1.0–2.0	1.0–2.0	881	$995	$1.13	14d	1	0.76mi
5713 Tibaron Ln #112 Toledo, OH	2.0	1.5	946	$1,175	$1.24	23d	1	0.79mi
5727 Tibaron Ln Toledo, OH	1.0–2.0	1.0–2.0	738	$1,195	$1.62	23d	1	0.82mi
2425 Cheyenne Blvd Toledo, OH	2.0–3.0	1.0–2.0	1055	$1,029	$0.98	8d	1	0.85mi
5427 Glenridge Dr Unit 5433 Toledo, OH	2.0	1.5	1200	$1,249	$1.04	44d	1	0.88mi
1163 Bernath Unit 1163 Toledo, OH	2.0	1.5	1200	$1,185	$0.99	23d	1	0.91mi
5420 Heatherdowns Blvd Toledo, OH	1.0–2.0	1.0–2.0	1050	$1,295	$1.23	12d	1	0.91mi
1220 Four Seasons Dr Toledo, OH	2.0	2.0	1000	$1,145	$1.15	23d	1	0.92mi
5526 Heatherdowns Blvd #8 Toledo, OH	2.0	1.5	1115	$950	$0.85	14d	1	0.95mi
5534 Heatherdowns Blvd Unit 5540 Toledo, OH	2.0	1.0	1000	$850	$0.85	23d	1	0.96mi
5926 Walnut Cir Unit C12 Toledo, OH	2.0	1.5	1330	$1,395	$1.05	23d	1	1.06mi
4835 Heatherdowns Blvd Toledo, OH	1.0–2.0	1.0–1.5	845	$965	$1.14	14d	1	1.10mi
5943 Walnut Cir Dr Toledo, OH	1.0–2.0	1.0–1.5	1000	$1,395	$1.40	21d	3	1.12mi
5648 Ryewyck Dr Toledo, OH	2.0	1.0	1000	$1,000	$1.00	12d	1	1.14mi
5623 Ryewyck Dr Toledo, OH	2.0	1.0	1160	$999	$0.86	44d	1	1.15mi
4874 S Village Dr Toledo, OH	1.0–2.0	1.0	900	$1,120	$1.24	14d	1	1.18mi
5901 Ryewyck Dr Toledo, OH	2.0	1.0	900	$900	$1.00	12d	1	1.24mi
2250 Perrysburg Holland Rd Maumee, OH	2.0	1.0	727	$904	$1.24	8d	1	1.36mi
5702 Angola Rd Toledo, OH	3.0	2.0	1056	$1,249	$1.18	23d	1	1.48mi
5001 South Ave Toledo, OH	3.0	2.0	1312	$1,424	$1.09	14d	1	1.48mi

HOA detail condo

• Monthly dues: $212 · $2,544/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 35 events

1. 2026-06-18
   days on market $70,000 Active 20 DOM
2. 2026-06-17
   days on market $70,000 Active 19 DOM
3. 2026-06-16
   days on market $70,000 Active 18 DOM
4. 2026-06-15
   days on market $70,000 Active 17 DOM
5. 2026-06-14
   pricedays on market $70,000 Active 15 DOM
6. 2026-06-10
   days on market $72,500 Active 12 DOM
7. 2026-06-09
   days on market $72,500 Active 11 DOM
8. 2026-06-08
   days on market $72,500 Active 10 DOM
9. 2026-06-07
   days on market $72,500 Active 9 DOM
10. 2026-06-05
    days on market $72,500 Active 6 DOM
11. 2026-06-03
    days on market $72,500 Active 5 DOM
12. 2026-06-02
    days on market $72,500 Active 4 DOM
13. 2026-06-01
    days on market $72,500 Active 3 DOM
14. 2026-05-31
    days on market $72,500 Active 2 DOM
15. 2026-05-30
    pricedays on marketlisting id $72,500 Active 1 DOM
16. 2026-05-04
    price $69,400 228-char remark

    Show marketing remark (228 chars)

    Cute South Toledo 2 bed 1.5 bath condo. Garden level unit features LR, DR, master bedroom with tons of closets and access to full bath and in unit washer/dryer hook-ups. Unit currently rented for $875/mo on month to month lease.

17. 2026-04-17
    price $69,900 228-char remark

    Show marketing remark (228 chars)

    Cute South Toledo 2 bed 1.5 bath condo. Garden level unit features LR, DR, master bedroom with tons of closets and access to full bath and in unit washer/dryer hook-ups. Unit currently rented for $875/mo on month to month lease.

18. 2026-03-26
    price $72,500 228-char remark

    Show marketing remark (228 chars)

    Cute South Toledo 2 bed 1.5 bath condo. Garden level unit features LR, DR, master bedroom with tons of closets and access to full bath and in unit washer/dryer hook-ups. Unit currently rented for $875/mo on month to month lease.

19. 2026-03-10
    listed $75,000 Active 228-char remark

    Show marketing remark (228 chars)

    Cute South Toledo 2 bed 1.5 bath condo. Garden level unit features LR, DR, master bedroom with tons of closets and access to full bath and in unit washer/dryer hook-ups. Unit currently rented for $875/mo on month to month lease.

20. 2025-12-02
    historical
21. 2025-11-05
    listed $75,000 Active
22. 2025-10-14
    price $43,000
23. 2025-10-14
    price $32,000
24. 2018-06-01
    soldstatus $32,000
25. 2018-05-25
    soldstatus $32,000
26. 2018-01-27
    listed $34,900
27. 2013-01-31
    soldstatus $25,000
28. 2000-07-25
    soldstatus $43,000
29. 2000-07-21
    soldstatus $43,000
30. 2000-05-23
    listed $47,500
31. 2000-01-01
    historical
32. 1999-10-27
    listed $45,000
33. 1999-10-14
    historical
34. 1999-04-14
    listed $43,500
35. 1991-02-22
    soldstatus $36,000

ⓘ 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: $1,268 · $106/mo
• Projected year-2 tax: $1,268 · $106/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: $13,386
• − Mortgage interest: −$3,921
• − Property taxes: −$1,268
• − Insurance: −$350
• − Repairs & maintenance: −$1,071
• − Management: −$1,071
• − HOA: −$2,544
• − Depreciation: −$2,036
• Taxable income: $1,125
• Est. tax owed @ 24.0%: −$270
• After-tax cash flow: $1,738/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): 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

+92.8% since first listed

20 events — show timeline

• 2026-05-04 Price Changed $69,400 NORIS
• 2026-04-17 Price Changed $69,900 NORIS
• 2026-03-26 Price Changed $72,500 NORIS
• 2026-03-10 Listed $75,000 NORIS
• 2025-12-02 Listing Removed — NORIS
• 2025-11-05 Listed $75,000 NORIS
• 2025-10-14 Price Changed $43,000 NORIS
• 2025-10-14 Price Changed $32,000 NORIS
• 2018-06-01 Sold (Public Records) $32,000 Public Records
• 2018-05-25 Sold (MLS) $32,000 NORIS
• 2018-01-27 Listed $34,900 NORIS
• 2013-01-31 Sold (Public Records) $25,000 Public Records
• 2000-07-25 Sold (Public Records) $43,000 Public Records
• 2000-07-21 Sold (MLS) $43,000 NORIS
• 2000-05-23 Listed $47,500 NORIS
• 2000-01-01 Listing Removed — NORIS
• 1999-10-27 Listed $45,000 NORIS
• 1999-10-14 Listing Removed — NORIS
• 1999-04-14 Listed $43,500 NORIS
• 1991-02-22 Sold (Public Records) $36,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $1,268 · +0.7% YoY. Source: county tax records.