3 Bedroom Home with Adjacent Lot Potential

This Lucas County Land Bank property represents a substantial renovation opportunity for qualified buyers seeking a value-driven project with long-term upside. Offering classic character, a flexible layout, and the rare advantage of an adjacent parcel being combined, this 1.5-story home is ideal for investors and owner-occupants who are prepared to take on a full-scale rehabilitation with a clear plan and adequate funding in place.

Located within Lucas County, this 3-bedroom, 1 full bath home with a basement provides a solid footprint and architectural features that can be restored and reimagined through a comprehensive renovation. The property is being offered through the Lucas County Land Bank, which means buyers should be prepared to meet specific purchase requirements designed to ensure responsible redevelopment and neighborhood stabilization.

Home Layout and Existing Features

The home is arranged over one and a half stories, offering a layout that supports both functional living and creative redesign. With three bedrooms, the property provides ample space for a small family, future tenants, or flexible use such as a home office, guest room, or hobby space once renovated.

Inside, the home includes several notable features that add character and renovation appeal:

A breakfast nook, offering the potential for a cozy eating area or casual gathering space
Large closets, which are a valuable feature in older homes and enhance livability once restored
A formal dining room with built-in cabinetry, a classic element that can be highlighted and refinished to add charm and resale appeal
A full basement, providing additional storage space and potential utility upgrades

These existing elements give the home a strong starting point for redevelopment, allowing buyers to preserve original character while upgrading systems, finishes, and functionality to modern standards.

Adjacent Lot Combination Adds Value

One of the most significant aspects of this offering is the adjacent lot located at 342 E Weber, which is also owned by the Lucas County Land Bank. The Land Bank is currently in the process of combining the two parcels, creating a larger overall property footprint.

This parcel combination presents meaningful advantages for future use and value, including:

Increased yard space and improved lot dimensions
Enhanced curb appeal and outdoor usability
Greater long-term resale or rental appeal
Potential flexibility for landscaping, parking, or outdoor amenities (subject to local regulations)

Opportunities to acquire homes with adjacent Land Bank–controlled parcels are limited, making this a compelling option for buyers who think strategically about land use and future value.

Major Systems Require Repair or Replacement

This property is clearly identified as a full renovation project, and buyers should plan accordingly. Several major systems are in need of repair or complete replacement, including:

Furnace
Water heater
Plumbing
Electrical systems
Roof

These system-level deficiencies mean the home is not move-in ready and will require a comprehensive rehabilitation before occupancy. As such, this property is best suited for experienced investors, contractors, or owner-occupants with renovation experience and access to sufficient capital.

The Land Bank’s transparency regarding system conditions allows buyers to accurately assess scope, cost, and timeline, which is critical for responsible redevelopment.

Renovation Plan and Proof of Funds Required

As part of the Lucas County Land Bank’s purchase requirements, any offer to purchase must include a full renovation plan along with proof of funds sufficient to complete the entire project. This ensures that buyers are financially and logistically prepared to complete the renovation and return the property to productive use.

A complete renovation plan typically outlines:

Scope of work for all major systems
Interior and exterior improvements
Estimated renovation budget
Timeline for completion

Proof of funds must demonstrate the buyer’s ability to cover acquisition and rehabilitation costs without relying on incomplete or speculative financing. Buyers should be prepared to present clear documentation with their offer.

Open to Investors and Owner-Occupants

The Lucas County Land Bank is accepting offers from both investors and owner-occupied buyers, making this an inclusive opportunity for different buyer types. Whether your goal is to renovate and resell, create a long-term rental, or restore the home as a primary residence, this property can support multiple end uses once fully rehabilitated.

For owner-occupants, the property offers the chance to create a personalized home while benefiting from Land Bank pricing and parcel consolidation. For investors, it presents a value-add project with structural character, lot expansion, and long-term market potential.

Why Land Bank Properties Appeal to Strategic Buyers

Land Bank homes are often attractive to buyers who prioritize long-term value, neighborhood impact, and redevelopment opportunity. These properties are typically priced to reflect condition and are sold with requirements that encourage responsible ownership and rehabilitation.

Key benefits include:

Transparent disclosure of property condition
Opportunities to acquire adjacent land
Focus on full rehabilitation rather than short-term holding
Potential to contribute positively to neighborhood revitalization

Buyers who understand the Land Bank process and are prepared to comply with its requirements often find these properties to be rewarding projects with meaningful upside.

Ideal Buyer Profile

This property may be best suited for:

Experienced real estate investors
Contractors or renovation professionals
Owner-occupants with construction experience
Buyers with access to full renovation funding
Purchasers seeking long-term equity through redevelopment

Because of the required repairs and documentation standards, this is not a casual or cosmetic project. However, for the right buyer, it represents a rare opportunity to restore a character home with added land value.

Important Buyer Considerations

Before submitting an offer, prospective buyers should:

Review all Land Bank purchase guidelines
Develop a realistic and detailed renovation plan
Secure proof of funds for the full project
Account for timelines, permits, and inspections
Understand that approval is subject to Land Bank review

Due diligence and preparation are essential when pursuing Land Bank properties, and buyers are encouraged to work with professionals familiar with this process.

Conclusion

This Lucas County Land Bank 3-bedroom, 1.5-story home with basement and adjacent lot potential offers a compelling redevelopment opportunity for qualified buyers ready to undertake a full renovation. With classic interior features, a flexible layout, and the added value of parcel combination, the property provides a strong foundation for transformation.

While major systems require repair or replacement, the transparent requirements and clear expectations make this an ideal project for buyers who value structure, planning, and long-term results. Whether restored as a personal residence or repositioned as an investment property, this home has the potential to become a productive and valuable asset once renovation is complete.

Interested buyers should prepare a complete renovation proposal and proof of funds and submit an offer in accordance with Lucas County Land Bank guidelines. Opportunities like this reward preparation, vision, and commitment to quality redevelopment.