Updated Condo Near University of
For Sale
$113,000
4515 W Bancroft Street, Toledo, OH 43615
Cozy 3-bedroom condo near University of Toledo, tenant-occupied.
Property Size1,120 SF
Days on Market432
Property Features for 4515 W Bancroft Street
General Information
Standard status
Active
Size
1,120 SF
Property subtype
Condominium
Site & Location
Neighborhood
Dick Cromwell, President; Keith Sparrow, Secretary
Amenities
Central Air
Natural Gas
Forced Air
Dishwasher
Water Heater
Dryer
Refrigerator
Washer
Pool, Shingles
Building Details
Building Size
1,120 SF
Year Built
1981
Stories
2
Listing Agency:
Key Realty
Listed By:
Olive Fang-Yun Wu
(419) 318-9372
Source:
Kw
Added: Aug 22, 2025
Changed: Oct 25
Last Checked: Oct 26 at 9:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Key Realty
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Investment Insights
Based on property information with market context.
This is a cozy condo featuring 3 bedrooms and 1.5 bathrooms. The property is located within a well-maintained community characterized by mature landscaping. Residents have access to a pool for recreational use during the summer. The condo was updated in 2021, including newer appliances and air conditioning. Parking is provided with an assigned carport and one additional parking space. The property is conveniently situated near the University of Toledo and the University Park Trail. The unit is currently tenant-occupied, presenting an opportunity for investors to assume the existing lease. The legal address for the property is Unit 9, while the mailing address is Unit 10.
Key Highlights
- Updated in 2021 with newer appliances and A/C.
- Conveniently located near the University of Toledo and University Park Trail.
- Tenant‑occupied with assumable lease, ideal for investors.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,438
Cap Rate
8.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$188,760
$188.8K
Cap Rate 7%
$134,829
$134.8K
Cap Rate 9%
$104,867
$104.9K
Market Conditions
NOI Build-Up for 1,120 SF
Gross rent
$17.9K $15.96/SF
− Vacancy
−$715 −$0.64/SF
EGI
$17.2K $15.32/SF
− OpEx
−$7.7K −$6.89/SF
NOI
$9.4K $8.43/SF
Area
Toledo, OH
Vacancy
4.00%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$188,760
Cap Rate 7%
$134,829
Cap Rate 9%
$104,867
Alternative Uses
Best Use
Apartment 5plus
$134.8K
$118.0K – $157.3K
NOI $9,438 @ 7.0% cap · market cap 8.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$186.4K
$163.1K – $217.5K
NOI $13,048 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
126
Businesses Nearby
Explore this area
Business Placement
Demographics for 43615, OH
39,449
Population
19,620
Households
2
Avg Household Size
40
Median Age
28%
College-Educated
93%
High-School Grad
16.5 sq mi
ZIP Area
2,391
Density / Sq Mi
$58,466
Median Household Income
$38,196
Median Earnings
$1,014
Median Rent
$137,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Cozy 3-bedroom condo near University of Toledo, tenant-occupied.
Where is this apartment building located?
The property is located at 4515 W Bancroft Street Toledo, OH.
What is the asking price?
The asking price for this property is $113,000.
What are key features of this property?
This property features: Updated in 2021 with newer appliances and A/C.; Conveniently located near the University of Toledo and University Park Trail.; Tenant‑occupied with assumable lease, ideal for investors.
