291 E Broadway St · Toledo, OH 43605

$154,000

6 bd · 3.0 ba · 3,432 sqft · MultiFamily public records · 205 Days on market

Built 1913 8,821 sqft lot

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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 +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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: 46 units. estimate disagrees with records

Listing remarks MLS

3 unit duplex. 2 units are occupied. One is month to month and the other is until 1/31/2023. Brings in a total rent when fully occupied of $2,040. Great investment opportunity.

Key facts

• 8,821 sq ft lot
• Garage
• Built 1913

Property features AI

Finance

• Other: Property is residential income (apartment/triplex); Lot approximately 0.2025 acres (8,821 sq ft); Located on a corner lot
• Financial info: Multi-family: 3 total units in 1 building; Tenants pay electricity and gas; owner pays water
• HOA & community: No HOA or community details provided

Exterior

• Parking: Has garage (1 garage space)
• Security: No security features provided
• Utilities: Public water; Sanitary sewer; Electricity available and connected (circuit breakers)
• Home design: Residential income property (apartment / triplex); Two levels / 2 stories
• Construction: Built with other construction materials; Block foundation; Shingle roof
• Exterior features: Corner lot

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: No bedroom-level details provided
• Flooring: Other flooring
• Bathrooms: No bathroom details provided
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Additional interior features listed as 'Other'; Water heater
• Laundry & utility: No laundry appliance details provided

What this means for you Summary

Snapshot

• This is a 46 × 6-bed/3.0-bath units multifamily listed at $154k.

Deal economics

• At list price, monthly cash flow is $42k ($509k/yr) — positive. Per door: $922/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($55k rent vs $154k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 336.9% 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: Raymer Elementary School (math 14% / reading 16%, grade F, #1,377 of 1,584 statewide, top 87%, 424 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; lower-income renter base — watch delinquency; 415 units permitted in Lucas County in 2024 (122 in 5+ unit buildings).
• At $54,951/mo this rent would consume 1686% 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 $1k of loan paydown is wiped out by about $5k 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 $43k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 205 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y ago; this cycle's ask has dropped $36k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $93k; list at $154k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 205 days. Have you received any prior offers? Is the seller open to a 12% 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 1913 — 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: 35.68% ✓
• Cap rate: 336.89%
• Cash-on-cash: 1180.72%
• DSCR: 53.54
• GRM: 0.2

CMA / ARV

• ARV (on-the-fly): $72,072
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
414 Platt St	0.20mi	5/3.0 (-1)	3,038 (-12%)	17mo	$64,000	$21	52

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: —
• Equity multiple: 66.22×
• Total profit: $2,812,169
• Equity at exit: $22,962

10-year hold

• IRR: —
• Equity multiple: 151.96×
• Total profit: $6,509,288
• Equity at exit: $13,315

Cash invested: $43,120 (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: 10.7×

Monthly cashflow live

• Estimated rent: $54,951 medium
• Mortgage (P&I): −$808
• Tax from tax record: −$112 /mo · $1,348/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$11,540
• Net cashflow: $42,427

Break-even live

Break-even rent $1,246

Max offer price $154,000

Occupancy floor 18%

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

Units	Beds	Baths	Est. rent
▸ 46× units	6	3	$54,970
Total (46 units)			$54,951

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: $38,500
• Closing costs: $4,620
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-18
   days on market $154,000 Active 205 DOM
2. 2026-06-17
   days on market $154,000 Active 204 DOM
3. 2026-06-16
   days on market $154,000 Active 203 DOM
4. 2026-06-15
   days on market $154,000 Active 202 DOM
5. 2026-06-14
   statusdays on market $154,000 Active 200 DOM
6. 2026-04-19
   status Pending
7. 2026-01-14
   price $154,000
8. 2025-11-10
   price $162,000
9. 2025-10-14
   price $93,000 176-char remark

   Show marketing remark (346 chars)

   Great floor plan for this modern 3 Unit building, each unit has their own private basement along with a quality 2 story, 2 bedroom setup. Tenants are setup to pay their own gas/electric, owner would pay water/sewer/lawn. Whole building has been vandalized, no furnaces, water heaters, or electric service connected. Great building after upgrades.

10. 2025-10-14
    price $30,000 346-char remark

    Show marketing remark (346 chars)

    Great floor plan for this modern 3 Unit building, each unit has their own private basement along with a quality 2 story, 2 bedroom setup. Tenants are setup to pay their own gas/electric, owner would pay water/sewer/lawn. Whole building has been vandalized, no furnaces, water heaters, or electric service connected. Great building after upgrades.

11. 2025-10-13
    price $23,000
12. 2025-09-30
    listed $190,000 Active
13. 2022-09-20
    soldstatus $93,000
14. 2022-09-09
    soldstatus $93,000 Closed 176-char remark

    Show marketing remark (176 chars)

    3 unit duplex. 2 units are occupied. One is month to month and the other is until 1/31/2023. Brings in a total rent when fully occupied of $2,040. Great investment opportunity.

15. 2022-08-19
    status Pending 176-char remark

    Show marketing remark (176 chars)

    3 unit duplex. 2 units are occupied. One is month to month and the other is until 1/31/2023. Brings in a total rent when fully occupied of $2,040. Great investment opportunity.

16. 2022-07-28
    listed $107,900 Active 176-char remark

    Show marketing remark (176 chars)

    3 unit duplex. 2 units are occupied. One is month to month and the other is until 1/31/2023. Brings in a total rent when fully occupied of $2,040. Great investment opportunity.

17. 2022-01-13
    price $675
18. 2021-07-09
    soldstatus $120,000
19. 2018-08-06
    soldstatus $30,000
20. 2018-08-01
    soldstatus $30,000 346-char remark

    Show marketing remark (346 chars)

    Great floor plan for this modern 3 Unit building, each unit has their own private basement along with a quality 2 story, 2 bedroom setup. Tenants are setup to pay their own gas/electric, owner would pay water/sewer/lawn. Whole building has been vandalized, no furnaces, water heaters, or electric service connected. Great building after upgrades.

21. 2018-06-27
    listed $52,000 346-char remark

    Show marketing remark (346 chars)

    Great floor plan for this modern 3 Unit building, each unit has their own private basement along with a quality 2 story, 2 bedroom setup. Tenants are setup to pay their own gas/electric, owner would pay water/sewer/lawn. Whole building has been vandalized, no furnaces, water heaters, or electric service connected. Great building after upgrades.

22. 2017-07-06
    soldstatus $56,000
23. 2015-12-31
    soldstatus $25,000
24. 2013-10-01
    soldstatus $85,000
25. 2013-06-28
    soldstatus $114,500
26. 2013-04-15
    soldstatus $23,000
27. 2013-03-22
    listed $24,000
28. 2013-03-22
    historical
29. 2013-03-22
    listed $24,000
30. 2013-03-21
    historical
31. 2013-02-12
    soldstatus $40,000
32. 2012-10-04
    listed $34,000
33. 2007-12-31
    soldstatus $269,900
34. 2003-05-23
    soldstatus $143,000
35. 2003-05-23
    soldstatus $160,000

ⓘ 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: $1,348 · $112/mo
• Projected year-2 tax: $1,875 · $156/mo
• Expected delta: +$527/yr (+$44/mo · 39.1%)

ⓘ 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: $659,412
• − Mortgage interest: −$8,626
• − Property taxes: −$1,348
• − Insurance: −$770
• − Repairs & maintenance: −$52,753
• − Management: −$52,753
• − Depreciation: −$4,480
• Taxable income: $538,682
• Est. tax owed @ 24.0%: −$129,284
• After-tax cash flow: $379,843/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

+7.7% since first listed

30 events — show timeline

• 2026-04-19 Pending — NORIS
• 2026-01-14 Price Changed $154,000 NORIS
• 2025-11-10 Price Changed $162,000 NORIS
• 2025-10-14 Price Changed $93,000 NORIS
• 2025-10-14 Price Changed $30,000 NORIS
• 2025-10-13 Price Changed $23,000 NORIS
• 2025-09-30 Listed $190,000 NORIS
• 2022-09-20 Sold (Public Records) $93,000 Public Records
• 2022-09-09 Sold (MLS) $93,000 NORIS
• 2022-08-19 Pending — NORIS
• 2022-07-28 Listed $107,900 NORIS
• 2022-01-13 Price Changed $675 RENT.
• 2021-07-09 Sold (Public Records) $120,000 Public Records
• 2018-08-06 Sold (Public Records) $30,000 Public Records
• 2018-08-01 Sold (MLS) $30,000 NORIS
• 2018-06-27 Listed $52,000 NORIS
• 2017-07-06 Sold (Public Records) $56,000 Public Records
• 2015-12-31 Sold (Public Records) $25,000 Public Records
• 2013-10-01 Sold (Public Records) $85,000 Public Records
• 2013-06-28 Sold (Public Records) $114,500 Public Records
• 2013-04-15 Sold (MLS) $23,000 NORIS
• 2013-03-22 Listed $24,000 NORIS
• 2013-03-22 Listing Removed — NORIS
• 2013-03-22 Listed $24,000 NORIS
• 2013-03-21 Listing Removed — NORIS
• 2013-02-12 Sold (Public Records) $40,000 Public Records
• 2012-10-04 Listed $34,000 NORIS
• 2007-12-31 Sold (Public Records) $269,900 Public Records
• 2003-05-23 Sold (Public Records) $160,000 Public Records
• 2003-05-23 Sold (Public Records) $143,000 Public Records

Property tax history

-1.0%/yr

Latest (2025): $1,348 · +6.9% YoY. Source: county tax records.