East Toledo - Crazy to Purchase (non-rental) Property?! (Five Points, Arlington: real estate market, lofts)

[InnerCitySoul]

A disclaimer...I've never set foot in East Toledo. I'm viewing it from afar...Augusta, Georgia to be exact. I've utilized Google Street View, various Facebook groups, Trulia listings and whatever I can find/read online. And I have to say, what I've found so far, intrigues me.

I've been following the Toledo real estate market for quite a few months. In that time, I've found numerous attractive, well maintained smaller homes in East Toledo. They're typically on smaller lots, often surrounded by other nice looking and well cared for homes. Using Google Street View, I'll "walk" the surrounding area/blocks around these homes and haven't found anything really scary or bombed out looking in the least. For the most part, although not completely, the neighborhood seems to be stable. The homes and yards often appear to be well maintained and cared for.

However, the crime maps paint a somewhat different story. Clearly East Toledo has some issues when it comes to crime. And like all areas that struggle in this regard, some areas are worse than others. In the immediate areas around the homes I've "researched," most of the crime has involved stealing stuff...larceny...property crimes. I'm not sure if that's a fair assessment or not? I've spent most of the last decade living in downtown Atlanta and currently reside in downtown Augusta, Georgia. I've never had an issue in either place, though I walk everywhere and frequently later at night. My background is in law enforcement (retired) so I'm not "put off" by typical inner-city crime maps. East Toledo seems to suffer from some of these issues, but doesn't seem to be inherently "dangerous." Again, not sure if that's an accurate assessment or not?

I like the fact that people often mention how their is a true sense of community in the neighborhood, suggesting that its location tucked away and separated from the rest of the city provides some of that cohesiveness, as well as its earlier immigrant history contributing to the same. The Marina Lofts (and Old Bag of Nails Pub) is a welcome addition to the neighborhood, as is the coming Metro Park next door. Also, several non-profits and community organizations appear to be making investments of time and money there in an effort to revitalize Main Street, as well as the neighborhood as a whole. There's no doubt the retail corridors have a lot of potential, which may, or may not ever materialize?

All in all, East Toledo seems like it might be a good fit for what I'm looking for. I especially like small(er) homes on postage stamp lots. I'm "street smart" and have a higher tolerance for colorful crime maps than the average suburbanite. I'm drawn to neighborhoods that might be overlooked by many as "down and out," but nonetheless continue to nurture the bonds of community. Neighborhoods that care about neighbors. I have NO idea if Est Toledo is any of these things. From afar, it appears like there is at least the potential for some of these thing to be true. Lastly, I should add this is not about finances and the (amazing) affordability of East Toledo. Most neighborhoods in Toledo fit well into my budget. I just have a "sense" that maybe East Toledo is an under the radar neighborhood, with nice homes, working class people who seem to care about their hood and just might be at the early stages of a turnaround?

What say you Toledo? Am I totally misreading this corner of the city? Is the crime way worse? Is the community nothing but renters? Is East Toledo just too far gone for any block clubs or neighborhood organizations to make a difference? I'd really appreciate hearing your opinions...love it or hate I'd like to know. And if not East Toledo, I'd appreciate hearing any suggestions that you might have on neighborhoods that might have some of what I'm seeking. Thanks in advance!

Paul

[ferraris]

Let me begin by saying that I no longer live in Toledo, though I do spend a lot of time there still.

East Toledo suffers from a massive stigma. It does have some good urban bones, and a nice new metropark though.

One trouble with Google Streetview tours is that you don't get a good sense for the people-side of things. Is there hustle and bustle? Is it people out shopping and kids going to school? Or people begging for change and idling in cars to buy/sell/use drugs?

I especially like small(er) homes on postage stamp lots. I'm "street smart" and have a higher tolerance for colorful crime maps than the average suburbanite. I'm drawn to neighborhoods that might be overlooked by many as "down and out," but nonetheless continue to nurture the bonds of community. Neighborhoods that care about neighbors.

I bet East Toledo meets a lot of this criteria, but it would still be pretty low on my list. I would prefer the Old South End, Old Towne, Arlington, Burroughs, Five Points, whatever the neighborhood between Westmoreland and UT Scott Park campus is called, maybe Uptown or Vistula, probably some others I am missing too...

Of course Toledo has nicer areas than those neighborhoods, but it sounds like you want cheaper "down, but not out" neighborhoods.

In particular I think Broadway in the Old South End has realized more of its potential than Main Street on the East Side, though both have plenty of room for improvement.

[Tobias C]

I dont live on the East Side nor have I spent any substantial time there but I've been there enough to get the vibe and have also worked there plenty in the past. My wife works in a law enforcement-associated position and has real time knowledge of the crime and safety in every neighborhood in the City of Toledo proper.I would say both of your guys assessments are pretty spot on.

When it comes to crime, the East Side is not a war zone or anything but it can be rough depending on where you're at. Theres violent crime. Housing projects. Theres gangs. Having shots fired within a few blocks of you should be a realistic expectation. If you're used to living in an area like this and can still get on fine then you may like it. It's one of the more diverse neighborhoods in the city, without looking up stats and I'd guess ballpark that it's pretty equally 1/3 white, black, and latino. I don't really know what the actual level of community engagement there is but I imagine theres people you could get involved with If you cared to.

I think it has the types of houses you appreciate. The east side definitely has potential for revitalization, especially along the Main St/Starr Ave corridor and on the riverfront, but I personally don't expect to see that happen in any substantial way in the near future. Theres not much housing stock of the types that would lend to gentrification of the whole neighborhood or anything (which is a good thing for the existing residents). Most private investment will go into downtown. Or areas immediately adjacent to downtown, like Uptown, Vistula, etc. The immediate riverfront on the east side is probably the only place that might see continual investment. The new Metropark is a great asset for the community. To date, I dont feel like any of the riverfront development has really lived up to its potential whatsoever, but it's not bad.

Like I said, if you like the liveliness of the inner city and can handle the rough edges, it could be a good fit.

[InnerCitySoul]

Really appreciate the thoughtful (and helpful!) replies ferraris/Tobias. I'm continuing my Toledo search on the net and will definitely dig a bit deeper into the above mentioned neighborhoods. Thanks again for your help!