Unbelievable!This home costs only $17,888 !

Affordable Opportunity in Toledo’s Roosevelt Neighborhood: 1157 W Woodruff Ave

Priced at just $17,888, this property at 1157 W Woodruff Avenue in Toledo, Ohio, offers a rare opportunity for homebuyers or investors seeking a renovation project in a promising neighborhood. Listed through the Lucas County Land Bank as part of its Homeownership Advantage Program (HAP), this four-bedroom home combines affordability with the potential to become a comfortable residence or a revitalized asset for future owner-occupants.

A Solid Framework with Room to Grow

With over 1,200 square feet of living space, the home provides a functional layout that can easily be tailored to a buyer’s vision. The property features four bedrooms and one full bathroom, making it a suitable size for families, first-time homeowners, or anyone looking for a home with room to expand. Beneath the main level lies a full basement, which adds valuable storage space and potential for additional living areas after renovation.

The house sits in the Roosevelt Neighborhood, an established residential area close to local schools, parks, and downtown Toledo amenities. Residents of this community enjoy convenient access to public transportation, shopping, and employment centers, while still being surrounded by the charm of Toledo’s historic architecture.

Major Systems Needing Attention

While the property’s price point is attractive, buyers should be aware that the home requires significant updates and repairs. According to the Land Bank, major systems are in need of repair or replacement, including the furnace, water heater and plumbing, electrical systems, roof, and foundation. These improvements will demand a dedicated renovation plan and budget, making the property best suited for those with experience in home rehabilitation or for buyers who can partner with licensed contractors.

Despite these challenges, the structure offers a solid base for restoration. Once completed, the improvements will not only increase the home’s value but also contribute to the ongoing revitalization efforts within the Roosevelt community. Homes like this one represent opportunities to transform vacant or distressed properties into vibrant, livable spaces once again.

The Homeownership Advantage Program

The Homeownership Advantage Program (HAP) is a special initiative from the Lucas County Land Bank that focuses on returning vacant properties to productive, owner-occupied use. Under this program, the Land Bank will currently only accept offers from buyers who intend to live in the home or from qualified resellers who will renovate the property for future owner-occupants. This policy helps ensure that renovated homes contribute to stable neighborhoods and that buyers are invested in the community’s long-term success.

Purchasing a Land Bank property often comes with certain requirements, such as submitting a rehabilitation plan, showing proof of renovation funds, and completing all necessary work within a designated time frame. However, these safeguards are in place to support successful homeownership and responsible property development.

Neighborhood and Lifestyle

The Roosevelt Neighborhood is known for its sense of community and affordability. Located just west of the University of Toledo, the area offers a mix of historic homes and newer developments. Its proximity to downtown Toledo, Scott Park, and Ottawa Park makes it an appealing choice for those seeking both convenience and green space. The shared driveway on the property is common in the area, reflecting the close-knit, traditional design of many Toledo neighborhoods.

A Promising Project for the Right Buyer

At $17,888, 1157 W Woodruff Ave represents one of the most budget-friendly homeownership opportunities currently available in Toledo. While it requires significant investment to reach move-in condition, the potential rewards—both financial and personal—can be substantial. For buyers willing to take on the challenge, this property offers a chance to restore a piece of Toledo’s housing heritage and create a home that truly reflects their vision.

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