Toledo made a 3-pointer on three straight possessions - by Stuckey Mosley, Nathan Boothe and Jonathan Williams - and then pulled within 45-43 on two free throws by Mosley. But Jeremie Tyler's 3-pointer started Ball State's 14-6 spurt for a 10-point lead with 11 minutes left.
The Cardinals made a season-high 13 3-pointers on 30 attempts (43 percent).
Francis Kiapway hit three from 3-point range and scored 16 points for Ball State (10-4). Davis had 13 and Calhoun 12 with seven rebounds. The Cardinals held a 38-28 lead at halftime behind Kiapway's 12 points.
Mosley paced Toledo (9-5) with 17 points and Boothe added 16.