$93,500
346 Leland Ave, Toledo, OH 43609
Current Rent **
$1,320
Projected Rent **
$2,690
Unit 1 Details
- Current Rent: $680
- Bedroom: 2 bd
- Bathroom: 1 ba
- Square Footage: 2224 sqft
- Occupied: Yes
- Needs Repairs: No
- Off MLS: Yes
Unit 2 Details
- Current Rent: $640
- Bedroom: 1 bd
- Bathroom: 1 ba
- Square Footage: 0 sqft
- Occupied: Yes
- Needs Repairs: No
- Off MLS: Yes
π‘ Investment Opportunity β Fully Occupied Duplex in Toledo, OH! π₯
Weβre thrilled to present an incredible investment opportunityβa fully occupied 2-unit duplex in a prime Toledo location with strong cash flow potential!
π° Key Financials:
β
Purchase Price: $93,500 ($46,750 per door)
β
ARV (After Repair Value): $140,000+ (based on recent comps)
β
Actual Cap Rate: 13.29%
β
Pro Forma Cap Rate: 28.23%
β
Actual NOI: $12,414/year
β
Pro Forma NOI: $26,397/year
π Property Details:
πΉ Fully Occupied β 100% Current Occupancy
πΉ Unit Mix:
β’ 346 Leland Ave: 2 Bed / 1 Bath β Rented at $680/month
β’ 348 Leland Ave: 2 Bed / 1 Bath β Rented at $640/month
πΉ Total Building Size: 2,224 Sq Ft
πΉ Lot Size: 3,092 Sq Ft
πΉ Building Class: C-Class (in a rapidly improving area)
πΉ Lease Terms: Month-to-month leases (flexibility for rent adjustments)
π§ Renovations & Repairs:
β
Recent Upgrades:
β New Roof
β Updated Plumbing
β Fully Renovated Electrical System
π§ Repairs Needed:
β’ Minor fire damage in the upstairs unitβincludes cleanup, wall repairs, and roof patching (estimated $20,000 by a local contractor)
π Why Invest?
β Low Operating Costs β Taxes: $450/year, Insurance: $450/year, Tenants pay utilities!
β Professional Property Management Available β Ready for a smooth transition.
β Growing Market β Toledo is a top "Opportunity City" (Forbes), attracting new businesses & residents.
π₯ This is a CASH-FLOWING, VALUE-ADD OPPORTUNITY you donβt want to miss! π₯
π© Interested? Contact us today for more details or to schedule a showing!
Location:
346 Leland Ave, Toledo, OH 43609
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* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.
** Current rent and projected rent are provided by the lister.
† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.
‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.
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