Rehab Cost per Sqft for Toledo market?

Question

Hi

I’m planning to do a flip or BRRRR in the Toledo Ohio market and wanted to see if anyone here has completed a full gut renovation in this area preferably 2024- to date. If so, what has been your average rehab cost per sqft for a full gut renovation?

For reference, I’ve attached images showing the types of properties and conditions I’m targeting. Any insight or recent experience would be greatly appreciated.

Engelo Rumora · Answer

I saw this one.

43609 zip code.

It's an "ok" area.

C class.

If I was buying, I'd pretty much want it for close to nothing.

There is lot's of risk taking on such a "skeleton" project.

Stay diligent.

If you have a solid crew, you are looking at $30,000 - $40,000 rehab.

ARV is maybe $70,000 for a 2 bed.

Not enough meat on this one.

Thanks and all the best

Eric Puffenberger · Answer

I haven't done a down to the stud renovation in Toledo yet. But I wanted to warn you about Toledo Edison. Most houses that are down to the studs need the utilities redone and turned back on. Toledo Edison is our power provider and they are very difficult to work with. You could be waiting 3 months or longer just to get power to the house. Unfortunately, Toledo Edison works on their own timeline. Just something to consider.

Arman Ahmed · Answer

Great question — Toledo full gut numbers have definitely shifted over the past year. From what I’ve seen on recent 2024–present projects, most full gut renovations (down to studs with MEP, roof/windows as needed, and mid-grade finishes) are landing somewhere in the $75–$110 per sqft range, depending heavily on scope, contractor availability, and how much structural or mechanical work pops up.

The biggest swing items lately seem to be electrical/HVAC upgrades, structural surprises, and material pricing, especially on older housing stock. Projects that stayed closer to cosmetic-plus or avoided major layout changes tended to come in on the lower end, while true gut + reconfiguration pushed costs up quickly.

Rehab Cost per Sqft for Toledo market?

Rehab Cost per Sqft for Toledo market?

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