| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Best |
| Demographics | 74th | Best |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2029 Key St, Maumee, OH, 43537, US |
| Region / Metro | Maumee |
| Year of Construction | 1973 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2029 Key St, Maumee OH Multifamily Value-Add
Neighborhood occupancy ranks first among 244 Toledo neighborhoods, signaling tight renter demand according to WDSuite’s CRE market data.
Located in Maumee’s inner-suburban fabric of the Toledo metro, the property sits in a neighborhood that is competitive among Toledo neighborhoods for overall performance (B-rated, rank 95 of 244). Amenity density within the immediate neighborhood is limited, but regional retail and employment access in greater Maumee/Toledo help anchor demand.
On the housing side, neighborhood occupancy is at the top of the metro (ranked 1 of 244), which points to tight leasing conditions. The local renter concentration is 23.4% of housing units, indicating a more owner-occupied neighborhood; investors should underwrite to depth from the broader submarket while leveraging the tight occupancy backdrop for retention.
Within a 3-mile radius, households have grown modestly and are projected to increase substantially through 2028, expanding the tenant base. Forecasts call for population growth and a notable increase in household counts, which supports multifamily demand and occupancy stability even if average household size shifts.
Education and incomes are supportive for workforce and mid-market product: the neighborhood s share of residents with a bachelor s degree is 30.5% (85th percentile nationally), and median household income ranks above the metro median. Median home values in the neighborhood are in a mid-range for the region, which can sustain renter reliance on multifamily housing without creating outsized rent-to-income pressure; the neighborhood 19s rent-to-income ratio is 0.09, supporting lease retention and measured pricing power.
The property 19s 1973 construction is slightly older than the neighborhood 19s average vintage (1976), suggesting potential value-add through targeted renovations and systems upgrades to remain competitive against newer stock.
Safety metrics indicate the area is competitive among Toledo neighborhoods (crime rank 85 out of 244) and sits above the national median for safety (around the 60th percentile). Property offenses have eased markedly year over year, a constructive trend for investor risk management. Violent offense rates are closer to national midlevels with some recent volatility; prudent operators can address this via lighting, access control, and resident engagement.
Proximity to established corporate employers supports renter demand through commute convenience and job stability, including auto parts, glass packaging, and building materials headquarters and offices listed below.
- Dana auto parts (2.9 miles)
- Dana Holding auto parts (2.9 miles) HQ
- Owens-Illinois glass packaging (4.3 miles) HQ
- Owens Corning building materials (7.0 miles) HQ
- Dana Holding Corporation auto parts (9.8 miles)
This 72-unit, 1973-vintage asset offers a straightforward value-add path in a neighborhood where occupancy ranks first among 244 Toledo neighborhoods, creating a supportive backdrop for leasing stability. Based on CRE market data from WDSuite, the area combines above-median incomes and strong educational attainment with mid-range ownership costs, which reinforces a dependable tenant base and measured pricing power. Within a 3-mile radius, forecasts call for population growth and a sizeable increase in household counts by 2028, pointing to a larger renter pool and sustained demand.
While the immediate neighborhood skews more owner-occupied, the broader 3-mile area shows meaningful renter-occupied housing depth, and limited nearby amenities can be offset by access to regional employment nodes. The vintage implies selective capital planning for interiors and building systems to elevate competitive positioning and capture rent growth from modernization.
- Neighborhood occupancy at the top of the metro supports lease-up and retention
- 1973 vintage enables value-add through targeted renovations and systems upgrades
- 3-mile forecasts show household growth, expanding the tenant base and supporting demand
- Proximity to major employers underpins steady renter demand and commute convenience
- Risk: lower immediate amenity density and older building systems require thoughtful operations and capex