None · Toledo, OH 43612

$105,000

3 bd · 1.0 ba · 1,290 sqft · SingleFamily · 155 Days on market

Built 1925 5,201 sqft lot Est $134k · 22% under ↓ 10% since listing

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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 +24.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +6.5/10.0
• Rent growth +4.0/5.0
• Schools +3.5/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

NOTICE: We are not considering seller financing or creative financing offers that do not consist of us in recorded first lien position with a minimum of 30% down. Thank you for understanding! This property is being sold as part of an 46-unit portfolio or a 5-unit sub-portfolio. In place cap is ~8.5%, pro forma cap is ~11.0%, and occupancy is 100%. Asking price for the 46-unit portfolio is $3.57M and asking price for the 11-unit sub-portfolio is $1,045,000. The sub-portfolio includes 549 Spencer, 560 Williamsville, 26 Magyar, 3256 Jeannette, 1413 Colburn, 1912 Greenwood, 2074 Price, 4321 Burnham, 4345 Burnham, 615 Cuthbert Rd, and 4228 N Lockwood. The entire 46-unit list can be found in the

Key facts

• 5,201 sq ft lot
• Garage
• Built 1925

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $227 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.

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.
• Washington Local (urban): math 37% / reading 47% proficiency, ranked #528 of 656 in OH (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.0%/yr); 92 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $726 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 + 6.0% rent growth), your $29k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $12k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.15% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.26%
• DSCR: 1.41
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $134,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
—	0.00mi	3/1.0	1,290 (0%)	0mo	$85,000	$66	100
47 W Crawford Ave	0.52mi	3/1.0	1,280 (-1%)	3mo	$122,000	$95	72
31 W Capistrano Ave	0.51mi	3/1.5	1,252 (-3%)	1mo	$140,000	$112	68
306 Warrington Rd	0.36mi	3/1.0	1,176 (-9%)	10mo	$137,000	$116	60
238 E Northgate Pkwy	0.47mi	2/1.5 (-1)	1,336 (+4%)	7mo	$119,666	$90	59
301 E Northgate Pkwy	0.50mi	3/1.0	1,192 (-8%)	9mo	$115,000	$96	56
118 W Poinsetta Ave	0.61mi	3/1.0	1,252 (-3%)	13mo	$129,900	$104	56
110 Pasadena Blvd	0.68mi	3/1.5	1,333 (+3%)	7mo	$88,000	$66	55
303 W Crawford Ave	0.72mi	3/1.0	1,197 (-7%)	4mo	$129,000	$108	50
23 W Capistrano Ave	0.49mi	3/2.0	1,156 (-10%)	7mo	$92,000	$80	50
42 California Blvd	0.58mi	3/1.0	1,102 (-15%)	11mo	$125,000	$113	39
232 W Capistrano Ave	0.69mi	3/1.0	1,118 (-13%)	13mo	$146,000	$131	35

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 · 6.01% rent growth · sell at horizon

5-year hold

• IRR: 1.0%
• Equity multiple: 1.04×
• Total profit: $1,215
• Equity at exit: $15,656

10-year hold

• IRR: 13.5%
• Equity multiple: 2.23×
• Total profit: $36,159
• Equity at exit: $9,078

Cash invested: $29,400 (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 43612

• Home prices YoY: -17.5%
• Rents YoY: 6.0%
• Active inventory: 92
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,206 high
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $227

Break-even live

Break-even rent $919

Max offer price $105,000

Occupancy floor 76%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5207 Bennett Rd Toledo, OH	2.0	2.0	1109	$1,200	$1.08	14d	1	0.95mi
4220 Caroline Ave Toledo, OH	3.0	1.0	944	$1,095	$1.16	44d	1	1.27mi
4140 Caroline Ave Toledo, OH	3.0	1.5	1378	$1,650	$1.20	23d	1	1.31mi
4406 Asbury Dr Toledo, OH	4.0	2.0	1089	$1,550	$1.42	14d	1	1.33mi
927 W Northgate Pkwy Toledo, OH	2.0	1.0	896	$1,100	$1.23	14d	1	1.42mi
4124 Vermaas Ave Toledo, OH	2.0	1.0	1245	$997	$0.80	44d	1	1.42mi
4129 Vermaas Ave Toledo, OH	3.0	1.5	1385	$1,250	$0.90	44d	1	1.44mi
3905 Peru St Toledo, OH	4.0	3.0	1548	$1,300	$0.84	21d	1	1.46mi
4039 Vermaas Ave Toledo, OH	2.0	1.0	900	$900	$1.00	23d	1	1.48mi
3950 Woodhaven Dr Toledo, OH	2.0	1.0	1072	$745	$0.69	23d	1	1.49mi
405 E Manhattan Blvd Toledo, OH	2.0	1.0	1000	$900	$0.90	14d	1	1.49mi

Listing history 6 events

1. 2026-03-16
   status Pending
2. 2026-01-14
   price $105,000
3. 2025-12-24
   status Active
4. 2025-12-12
   status Pending
5. 2025-11-10
   price $113,440
6. 2025-09-29
   listed $116,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $14,469
• − Mortgage interest: −$5,882
• − Property taxes: −$1,575
• − Insurance: −$525
• − Repairs & maintenance: −$1,157
• − Management: −$1,157
• − Depreciation: −$3,055
• Taxable income: $1,117
• Est. tax owed @ 24.0%: −$268
• After-tax cash flow: $2,454/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: Washington Local
• NCES district ID: 3904823
• Math proficiency: 37% ▼ -20.00%
• Reading proficiency: 47% ▼ -11.00%
• Median HH income: $42,105
• Composite: 35.36/100
• National rank: #4957
• State rank: #528 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): 28,480
• Household income: $50,728
• Rent vs Own: 45.4% rent · 54.6% own
• Severe rent burden: 1203.0

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: Majority White (63%)
• Race & ethnicity: White 63% Black 23% Two or more races 10% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Romanian 9% Lithuanian 3% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% 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: ▼ -50.05%
• Current HPI: 235.5389
• Rent YoY: ▲ 6.01%
• 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

-9.9% since first listed

6 events — show timeline

• 2026-03-16 Pending — NORIS
• 2026-01-14 Price Changed $105,000 NORIS
• 2025-12-24 Relisted — NORIS
• 2025-12-12 Pending — NORIS
• 2025-11-10 Price Changed $113,440 NORIS
• 2025-09-29 Listed $116,500 NORIS