1117 Woodland Ave

• **Lead paint and asbestos:** Given the age of the property (built in 1887), there's a high likelihood of lead paint and asbestos being present. Remediation costs can range from $2,000 to $10,000+ depending on the extent of the problem. These costs are not included in the property's listing price. • **Sewer system issues:** Toledo's combined sewer overflow system means the property might be susceptible to basement backups during heavy rain, which could lead to property damage and cleanup costs. • **Flood risk:** The property's proximity to Lake Erie may expose it to flood risks, especially during periods of high lake levels. Flood insurance should be considered, with premiums ranging from $500 to $2,000 per year, depending on the risk assessment. • **Property taxes and city services:** Property tax rates can vary in Toledo, and the quality of city services (trash collection, snow removal) should be verified. If these costs are higher than anticipated, the total cost of ownership will increase. • **Market volatility:** Toledo's economy has historically been reliant on manufacturing, making property values vulnerable to economic fluctuations. A potential downturn could negatively impact the property's value and rental income. • **Neighborhood safety:** Crime rates can vary in different Toledo neighborhoods. Thoroughly researching the specific area's safety is crucial, as higher crime rates can affect property values and rental demand. • **Vacant properties:** Some areas of Toledo have a higher number of vacant properties, which can negatively impact the property's value and safety. The presence of vacant properties near the subject property should be verified.