3 bedroom 1 bath home with a garage

This Lucas County Land Bank property presents a rare and compelling opportunity for investors, contractors, and qualified owner-occupants seeking a value-driven renovation project in Toledo, Ohio. Located in the Auburndale subdivision, this 3-bedroom, 1-bath single-family home with a full basement and a 2-car garage offers a solid footprint, functional layout, and strong upside for those prepared to address major system repairs or replacements.

Built in 1882, the home reflects the enduring construction style of its era while providing a blank canvas for modernization. With 1,084 square feet of interior living space, alley access parking, and public utilities already in place, this property is positioned as a strategic acquisition for buyers who understand how to create value through thoughtful rehabilitation.

Key Property Highlights

Program: Lucas County Land Bank

Location: Toledo, OH – Auburndale subdivision

Home Type: Single-Family Residence

Bedrooms: 3

Bathrooms: 1 Full

Living Area: 1,084 sq ft

Basement: Full basement

Garage: 2-car garage

Parking: Alley access + driveway

Lot Size: Approx. 6,098 sq ft

Year Built: 1882

Zoning: Single Family

Utilities: Public water, sanitary sewer, natural gas

Heating: Forced air, natural gas

Cooling: None

Price per Sq Ft: Approx. $5

Tax Assessed Value: $31,200

Annual Taxes: $1,070

Listing Terms: Cash only

A True Value-Add Opportunity

This property is clearly identified as one where major systems are in need of repair or replacement, making it best suited for buyers who are comfortable managing comprehensive renovations. This includes, but is not limited to, mechanical systems, interior updates, and overall modernization.

For experienced investors, this type of opportunity allows:

Full control over renovation scope and materials

Strategic budgeting without paying premiums for partial updates

The ability to reposition the property in the market after completion

Rather than inheriting outdated or mismatched improvements, buyers can approach this home as a ground-up rehabilitation, ensuring that every upgrade aligns with their investment strategy or long-term goals.

Functional Interior Layout

Despite its age, the home features a highly functional and efficient floor plan, all located on the main level, which simplifies both renovation planning and future occupancy.

Interior room breakdown includes:

Living Room (14 x 11): A central gathering space with flexibility for modern layouts

Kitchen (10 x 11): Compact and efficient, ideal for a complete redesign

Dining Room (10 x 11): Defined dining space, a desirable feature for resale and rentals

Bedroom 1 (10 x 13): Comfortable primary bedroom

Bedroom 2 (11 x 7): Ideal for guest room, office, or flex space

Bedroom 3 (11 x 12): Well-sized additional bedroom

Additional Room (9 x 7): Potential mudroom, storage area, or laundry enhancement

The laundry is located on the main level, a feature that appeals to many buyers and tenants and can be enhanced during renovation.

Full Basement Advantage

The property includes a full basement, which significantly increases its utility and long-term value. Basements are especially valuable for:

Storage

Mechanical systems

Potential finishing (subject to local regulations and feasibility)

A full basement also simplifies upgrades to plumbing, electrical, and HVAC systems during the rehabilitation process.

Garage and Parking

The 2-car garage, accessed via the alley, is a standout feature for a home of this size and age. Secure parking is highly desirable in both owner-occupied and rental markets, and the combination of garage space plus driveway and uncovered parking enhances overall usability.

Lot and Neighborhood Context

Situated on a 6,098-square-foot lot, the property provides manageable outdoor space that is easy to maintain while still offering room for functional yard use. The Auburndale subdivision is a residential area with established homes, making it suitable for long-term ownership strategies once renovations are complete.

Utilities and Infrastructure

The home is already connected to public water and sanitary sewer, which reduces development complexity compared to properties requiring well or septic systems. Natural gas service is in place, supporting efficient heating solutions once systems are updated.

Lucas County Land Bank Program Considerations

As a Lucas County Land Bank property, buyers should expect structured requirements and expectations. These properties are often intended to promote neighborhood stabilization and responsible redevelopment.

Typically, Land Bank purchases may require:

Renovation plans

Proof of funds

Compliance with program guidelines

This makes the property particularly attractive to buyers who are prepared, organized, and committed to completing a full renovation.

Investment Potential

With a price per square foot around $5, this property is positioned far below replacement cost, leaving substantial room for:

Renovation expenses

Equity creation

Market appreciation

The tax assessed value of $31,200 provides a baseline indicator of value, which can be significantly enhanced through proper rehabilitation. Low acquisition cost combined with a functional layout and garage makes this property a strong candidate for:

Long-term rental

Resale after renovation

Portfolio expansion

Ideal Buyer Profile

This opportunity is best suited for:

Experienced investors

Contractors or builders

Qualified owner-occupants comfortable with full renovations

Cash buyers, as required by listing terms

This is not a move-in-ready home. Buyers should be prepared for a comprehensive scope of work and associated costs.

Due Diligence

All buyers are encouraged to conduct their own due diligence, including inspections, cost estimates, and review of Land Bank requirements. Property information is provided for marketing purposes and should be independently verified.

Final Thoughts

This 3-bedroom, 1-bath Lucas County Land Bank home with a 2-car garage represents a classic high-upside rehabilitation opportunity in Toledo. With its solid size, full basement, garage parking, and extremely low price per square foot, it offers the right buyer a chance to create meaningful value through renovation.

For those prepared to address major system updates and complete a full rehab, this property stands out as a practical and strategic investment in an established neighborhood. Vision, planning, and execution will be key—but the potential reward makes this a project well worth consideration.

Listed on Zillow