329 E Lake St · Toledo, OH 43608

$111,000

6 bd · 2.0 ba · 2,280 sqft · MultiFamily public records · 34 Days on market

Built 1912 4,500 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
• Rent growth +3.5/5.0
• 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

Vacant duplex offering two spacious units, each with 3 bedrooms and 1 full bathroom. The upper unit is move-in ready, while the lower unit requires minor cosmetic updates—an excellent value-add opportunity for investors. Both units were previously rented at $850 per month, providing strong income potential. Ideal for an investor looking to add to their portfolio or a buyer interested in house hacking once repairs are completed. Property is being sold AS-IS, cash only. Please note: there is a crack in the main water line at the street, and the water is currently turned off. Buyer to assume responsibility for all repairs.

Key facts

• Enclosed porches
• New pex plumbing
• Rehabbed duplex

Tags

• TURNKEY DUPLEX OPPORTUNITY
• REHABBED DUPLEX
• ENCLOSED PORCHES
• NEW PEX PLUMBING
• FULLY REMODELED KITCHENS

Property features AI

Finance

• Financial info: Two-unit building; Two vacant units; One building

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Tenant pays all utilities
• Home design: Residential income property (duplex); Two levels / 2 stories
• Construction: Vinyl siding
• Exterior features: Shingle roof

Interior

• Kitchen: Gas oven
• Flooring: Carpet; Vinyl
• Heating & cooling: Forced air heating; Window air conditioning units; Has heating; Has cooling
• Interior features: Other interior features; Has basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $111k.

Deal economics

• At list price, monthly cash flow is $833 ($10k/yr) — positive. Per door: $416/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $111k).
• Recommended offer: $108k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.3% vs local median 7.5% 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: Spring Elementary School (math 2% / reading 8%, grade F, #1,554 of 1,584 statewide, top 100%, 231 students, 0% FRL); Woodward High School (math 2% / reading 22%, grade F, #726 of 781 statewide, top 94%, 672 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 (+3.9%/yr); 59 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 $2,030/mo this rent would consume 83% of the median local household income ($29k/yr) (locally 911% 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 $767 of loan paydown is wiped out by about $3k 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 + 3.9% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 27y 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 $65k; list at $111k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $107,670 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% 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 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.83% ✓
• Cap rate: 15.29%
• Cash-on-cash: 32.14%
• DSCR: 2.43
• GRM: 4.6

CMA / ARV

• ARV (median comp): $56,520
• List price: $111,000
• Delta: 96.39%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.89% rent growth · sell at horizon

5-year hold

• IRR: 28.2%
• Equity multiple: 2.19×
• Total profit: $36,906
• Equity at exit: $16,550

10-year hold

• IRR: 36.2%
• Equity multiple: 4.48×
• Total profit: $108,214
• Equity at exit: $9,597

Cash invested: $31,080 (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 43608

• Home prices YoY: -21.3%
• Rents YoY: 3.9%
• Active inventory: 59
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,030 high
• Mortgage (P&I): −$582
• Tax from tax record: −$143 /mo · $1,714/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $833

Break-even live

Break-even rent $976

Max offer price $111,000

Occupancy floor 54%

Sensitivity live

Price	-10% $895	-5% $864	+0% $833	+5% $801	+10% $770
Rent	-10% $672	-5% $752	+0% $833	+5% $913	+10% $993
Rate	-1.0pp $888	-0.5pp $861	base $833	+0.5pp $804	+1.0pp $775

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,030
Total (2 units)			$2,030

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: $27,750
• Closing costs: $3,330
• Reserves months: —
• Total cash needed: —

Listing history 44 events

1. 2026-06-21
   days on market $111,000 Active 34 DOM
2. 2026-06-18
   days on market $111,000 Active 31 DOM
3. 2026-06-17
   days on market $111,000 Active 30 DOM
4. 2026-06-16
   days on market $111,000 Active 29 DOM
5. 2026-06-15
   days on market $111,000 Active 28 DOM
6. 2026-06-14
   days on market $111,000 Active 26 DOM
7. 2026-06-10
   statusdays on market $111,000 Active 23 DOM
8. 2026-06-01
   status $111,000 Pending 22 DOM
9. 2026-05-06
   historical
10. 2026-05-06
    listed $114,999 Active 730-char remark
11. 2026-04-29
    listed $114,900 Active
12. 2026-04-28
    historical
13. 2026-03-04
    soldstatus $65,000
14. 2026-02-18
    soldstatus $65,000 Closed

    Show marketing remark (633 chars)

    Vacant duplex offering two spacious units, each with 3 bedrooms and 1 full bathroom. The upper unit is move-in ready, while the lower unit requires minor cosmetic updates—an excellent value-add opportunity for investors. Both units were previously rented at $850 per month, providing strong income potential. Ideal for an investor looking to add to their portfolio or a buyer interested in house hacking once repairs are completed. Property is being sold AS-IS, cash only. Please note: there is a crack in the main water line at the street, and the water is currently turned off. Buyer to assume responsibility for all repairs.

15. 2026-02-06
    status Pending

    Show marketing remark (633 chars)

    Vacant duplex offering two spacious units, each with 3 bedrooms and 1 full bathroom. The upper unit is move-in ready, while the lower unit requires minor cosmetic updates—an excellent value-add opportunity for investors. Both units were previously rented at $850 per month, providing strong income potential. Ideal for an investor looking to add to their portfolio or a buyer interested in house hacking once repairs are completed. Property is being sold AS-IS, cash only. Please note: there is a crack in the main water line at the street, and the water is currently turned off. Buyer to assume responsibility for all repairs.

16. 2026-01-28
    listed $65,000 Active

    Show marketing remark (633 chars)

    Vacant duplex offering two spacious units, each with 3 bedrooms and 1 full bathroom. The upper unit is move-in ready, while the lower unit requires minor cosmetic updates—an excellent value-add opportunity for investors. Both units were previously rented at $850 per month, providing strong income potential. Ideal for an investor looking to add to their portfolio or a buyer interested in house hacking once repairs are completed. Property is being sold AS-IS, cash only. Please note: there is a crack in the main water line at the street, and the water is currently turned off. Buyer to assume responsibility for all repairs.

17. 2025-11-07
    historical Contingent
18. 2025-10-14
    status Active
19. 2025-10-14
    price $65,362
20. 2025-10-14
    price $39,000
21. 2025-10-03
    historical
22. 2025-10-03
    status Pending
23. 2025-08-06
    status Active
24. 2025-07-29
    historical Contingent
25. 2025-07-24
    listed $72,500 Active
26. 2025-01-22
    historical $750
27. 2024-11-26
    price $750
28. 2024-11-02
    listed $850
29. 2022-04-20
    soldstatus $97,500
30. 2022-04-14
    status Pending
31. 2022-04-12
    soldstatus $97,500 Closed
32. 2022-04-11
    price $97,500
33. 2022-03-30
    historical Contingent
34. 2022-03-28
    listed $80,000 Active
35. 2022-03-07
    historical $80,000
36. 2008-02-12
    soldstatus $65,362
37. 2008-02-04
    soldstatus $65,362
38. 2007-07-18
    listed $69,000
39. 1999-10-04
    soldstatus $39,000
40. 1999-09-28
    soldstatus $39,000
41. 1999-03-17
    listed $42,900
42. 1990-05-29
    soldstatus $40,000
43. 1989-08-03
    soldstatus $40,000
44. 1986-11-13
    soldstatus $37,000

ⓘ 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: $1,714 · $143/mo
• Projected year-2 tax: $1,723 · $144/mo
• Expected delta: +$9/yr (+$1/mo · 0.5%)

ⓘ 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,360
• − Mortgage interest: −$6,218
• − Property taxes: −$1,714
• − Insurance: −$555
• − Repairs & maintenance: −$1,949
• − Management: −$1,949
• − Depreciation: −$3,229
• Taxable income: $8,747
• Est. tax owed @ 24.0%: −$2,099
• After-tax cash flow: $7,891/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): 13,593
• Household income: $29,275
• Rent vs Own: 44.6% rent · 55.4% own
• Severe rent burden: 911.0

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 0.60)
• Race & ethnicity: Black 57% White 25% Two or more races 9% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 91% English-only · Spanish 7%

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: ▼ -37.73%
• Current HPI: 139.4964
• Rent YoY: ▲ 3.89%
• 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

+200.0% since first listed

41 events — show timeline

• 2026-06-09 Relisted — NORIS
• 2026-06-01 Pending — NORIS
• 2026-06-01 Listed $111,000 NORIS
• 2026-05-29 Sold (MLS) — NORIS
• 2026-05-26 Price Changed $111,000 NORIS
• 2026-05-06 Listing Removed — NORIS
• 2026-05-06 Listed $114,999 NORIS
• 2026-04-29 Listed $114,900 NORIS
• 2026-04-28 Coming Soon — NORIS
• 2026-03-04 Sold (Public Records) $65,000 Public Records
• 2026-02-18 Sold (MLS) $65,000 NORIS
• 2026-02-06 Pending — NORIS
• 2026-01-28 Listed $65,000 NORIS
• 2025-11-07 Contingent — NORIS
• 2025-10-14 Relisted — NORIS
• 2025-10-14 Price Changed $65,362 NORIS
• 2025-10-14 Price Changed $39,000 NORIS
• 2025-10-03 Listing Removed — NORIS
• 2025-10-03 Pending — NORIS
• 2025-08-06 Relisted — NORIS
• 2025-07-29 Contingent — NORIS
• 2025-07-24 Listed $72,500 NORIS
• 2025-01-22 Rental Removed $750 APPFOLIO
• 2024-11-26 Price Changed $750 APPFOLIO
• 2024-11-02 Listed for Rent $850 APPFOLIO
• 2022-04-20 Sold (Public Records) $97,500 Public Records
• 2022-04-14 Pending — NORIS
• 2022-04-12 Sold (MLS) $97,500 NORIS
• 2022-04-11 Price Changed $97,500 NORIS
• 2022-03-30 Contingent — NORIS
• 2022-03-28 Listed $80,000 NORIS
• 2022-03-07 Coming Soon $80,000 NORIS
• 2008-02-12 Sold (MLS) $65,362 NORIS
• 2008-02-04 Sold (Public Records) $65,362 Public Records
• 2007-07-18 Listed $69,000 NORIS
• 1999-10-04 Sold (MLS) $39,000 NORIS
• 1999-09-28 Sold (Public Records) $39,000 Public Records
• 1999-03-17 Listed $42,900 NORIS
• 1990-05-29 Sold (Public Records) $40,000 Public Records
• 1989-08-03 Sold (Public Records) $40,000 Public Records
• 1986-11-13 Sold (Public Records) $37,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $1,714 · +31.1% YoY. Source: county tax records.