Looking for the best places to invest in Toledo? Nestled on the corner of Lake Erie, this Ohio city is the perfect mix of exciting, urban entertainment and small-town, midwestern charm. With easy access to the Great Lakes as well as a convenient location on the Maumee River waterfront, Toledo is not only a gateway to the other nearby major cities, it’s also a gateway to the great outdoors. Don’t be totally fooled by the small-town vibe, though. Toledo also has its own strong economy with a large labor force in manufacturing, health services, and tradesmen work, just to name a few of the many thriving industries. Combine all of this with accessible home prices and steady rental rates, and it’s no wonder Toledo is an ideal city for investors to keep on their radar. It’s an expansive city with many different areas to choose from, however. Some that investors may not even be aware of. In this article, we’ll list some of the best places to invest in Toledo and what types of properties, neighborhoods, and price ranges you can expect there.
Ottawa Hills
Where is it located?
First up on our list is the neighborhood known as Ottawa Hills. Just twelve minutes west of the city center, this neighborhood is a hub for all Toledo has to offer. Residents of Ottawa Hills have direct access to I-475, connecting them easily to the rest of the city and making for an easy commute for parents and young professionals working in the city. Additionally, Ottawa Hills is situated in an area with many parks and golf courses, giving residents access to an abundance of outdoor activities to enjoy.
What types of properties are available?
Mostly comprised of A-class, single-family homes and condos, the properties in Ottawa Hills are largely renovated homes that are move-in ready. These properties are ideal for investors who aren’t looking to take on an intensive renovation project. The homes in Ottawa Hills are priced above average for the city of Toledo, but given the options and accessibility of this suburb, the premium makes sense. There are a few properties that are priced closer to what is average for the city, though. So if you keep an eye out and are willing to take on a property that needs a bit of work, you could find the perfect fit in this neighborhood.
What other benefits are there?
For residents, one of the greatest benefits is the close proximity to Wildwood Preserve Park, which is a network of biking and hiking trails for locals to enjoy. This makes living in the suburbs feel a bit more rural, giving residents access to plenty of outdoor activities. The schools in Ottawa Hills are also highly rated, making this a magnet for families looking to live in an area with some of the best educational amenities. This is a great sign for investors looking to make a profit on a property in an in-demand neighborhood.
Southwyck
Where is it located?
As the name implies, the neighborhood of Southwyck is located south of the city center. Thirteen minutes south, to be exact. Southwyck is one of the Toledo neighborhoods that touches the Maumee river, which gives it an abundance of green space and waterfront. Essentially, it’s a gem in this urban area. The neighborhood is also home to an abundance of entertainment options for residents to explore, such as the Toledo Zoo and Stranahan Theater & Great Hall
What types of properties are available?
Most of the properties available in Southwyck are B-class, single-family homes and condos. The properties here are a bit older than you might see in other neighborhoods, but many appear to be quite well-kept. Housing size is typically 2-4 bedrooms in Southwyck, which makes it a great place for families and young professionals alike. The homes in Southwyck are priced about average for the city, so if you’re looking for an accessible neighborhood, then this might just be the sweet spot.
What other benefits are there?
Close proximity to the Maumee river is definitely a perk when it comes to overall Toledo living. But Southwyck not only has waterfront access, it is also surrounded by five large greenspaces, including Swan Creek Metro Park. This makes the area a real suburban nature haven. This fact can be felt in the properties available here as well. Many of the homes are situated on roomy lots that allow for large yards, which always offer up the opportunity to build ADUs, for investors looking to earn extra profit.
Perrysburg
Where is it located?
Across the river from Southwyck is a city known as Perrysburg. Located south of the Maumee River and intertwined in all of the major highways that run through Toledo, Perrysburg is 12 miles away from the city center. This means it’s well within the commutable distance for working parents and young professionals. Perrysburg features a historic downtown area and plenty of waterfront, considering the entire northern border is the Maumee River. Residents of the area enjoy all the perks of more suburban or, in some parts, rural living, while still maintaining access to all of the conveniences of the city.
What types of properties are available?
Perrysburg is almost entirely made up of A-class, single-family homes. The area is pretty sparsely populated, meaning there aren’t a lot of condo or townhome options available. Even though Perrysburg is a bit outside the city, the extra space means larger homes and lot sizes that can come at a bit of a premium. However, given the affluence of the neighborhood, you can typically expect homes here to be well-maintained, protecting your investment in the long run.
What other benefits are there?
Perrysburg has been recognized as one of Toledo’s best communities to live in, due to the small-town feel and neighborly support. Perrysburg is also known for a collection of locally owned, small businesses that contribute to the city's charm. These shops give residents the opportunity to buy locally when they can and commute into Toledo for any other needs. The neighborhood is also remarkably safe and has good schools, which make it an in-demand area for families and young professionals alike.
Downtown
Where is it located?
As the name would suggest, the downtown Toledo area is in the heart of the city, and bustling with all of the urban culture that Toledo has to offer. Like other neighborhoods on this list, downtown also has a considerable stretch of waterfront with the Maumee river running along the southern border. Downtown is one of the more walkable areas in Toledo, making it a great place for residents who like to keep their circle small and remain close to their favorite shops, restaurants, and entertainment options.
What types of properties are available?
Given the density of the downtown area, there are more apartments and condos available. However, like in any midwestern city, there are still single-family homes available for investors who are not looking to buy into the multifamily scene. Homes in the downtown area range from B- to C-class and are typically much less expensive than the rest of the city. That means the heart of Toledo could be an great place to get your foot in the door as an investor.
What other benefits are there?
An added benefit is the fact that there are more than a few college campuses in the area: University of Toledo and Davis College, to name a few. This means there will always be a revolving door of students, faculty, and staff who need housing near the campuses. So, if you’re looking to become a landlord in Toledo, this might be an ideal place to try out the city.
Waterville
Where is it located?
Last on our list and the furthest away from the city center is the suburb known as Waterville. It’s an approximately 20-minute drive southwest of the city, following the Maumee River. This waterfront community and sprawling suburb is an up-and-coming neighborhood for investors to explore. The residents of Waterville have access to not only the riverfront, but an abundance of greenspaces, such as Farnsworth MetroPark and the Weirs Rapids river area. There are also two golf courses nearby, providing ample opportunity to get outside and play.
What types of properties are available?
There’s a variety of properties available in Waterville, ranging from A- to B-class, single-family homes. Because it is a true up-and-coming neighborhood, these properties are usually new-builds or recently renovated. If you’re not interested in a DIY project, Waterville has an abundance of brand new properties to choose from, all in an idyllic suburb that more and more people are moving to every year. The homes in Waterville are priced about average for the Toledo area. And considering how much space comes with the community, this is basically a steal.
What other benefits are there?
Schools in Waterville are ranked above average for the city of Toledo. This is a huge draw for families looking to raise their children outside of the hustle and bustle of a city center, without retreating too far into the countryside. Again, you’ll find all of the extra space that benefits investors as well. If you’re looking to add an ADU to a large lot, Waterville is an excellent place to explore.
Final Thoughts: Best Places to Invest in Toledo
Among the best places to invest in Toledo, investors can expect to find mid-level, C-class properties, all the way up to those in the A++-class. Essentially, this city provides both more affordable options and higher income opportunities. Long story short: They each have their own unique pros and cons. To get the best feel for where you’d like to invest, it always helps to talk to an expert who has boots-on-the-ground knowledge and knows each neighborhood like the back of their hand. Our Toledo team is always happy to help and answer any questions you might have. If you’d like to learn more about the Toledo market as a whole, including population insight, renal market trends, and more, download our Toledo Market Deep Dive.
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