| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Good |
| Demographics | 42nd | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3113 Navarre Ave, Oregon, OH, 43616, US |
| Region / Metro | Oregon |
| Year of Construction | 1980 |
| Units | 112 |
| Transaction Date | 2006-03-23 |
| Transaction Price | $2,650,000 |
| Buyer | FOUNTAIN SQUARE APARTMENTS OF OREGON LP |
| Seller | FOUNTAIN SQUARE APARTMENTS LP |
3113 Navarre Ave, Oregon OH Multifamily Opportunity
Amenity access and a sizable renter base in Oregon support demand fundamentals, according to WDSuite’s CRE market data. Neighborhood occupancy has eased in recent years, so operations and leasing execution will be central to returns.
Located in the inner suburbs of Toledo, the neighborhood around 3113 Navarre Ave carries an A- rating and ranks 53rd out of 244 metro neighborhoods — placing it in the top quartile locally. Daily convenience is a clear strength: grocery, restaurant, and pharmacy density score among the stronger concentrations in the metro, helping support resident retention and leasing velocity for multifamily assets.
Amenity access is a differentiator for this submarket, with grocery and dining options performing above the metro median and competitive nationally. While average school ratings are modest, the area’s everyday services and commute convenience can help sustain workforce housing appeal. For investors focused on multifamily property research, this mix often underpins steady traffic even when broader demand moderates.
Renter-occupied housing accounts for roughly half of neighborhood units (48% range), indicating a deep tenant base for a 112-unit asset and supportive of absorption during turns. At the same time, neighborhood occupancy sits in the mid-80s and has trended lower over five years, signaling the need for disciplined pricing, targeted upgrades, and active marketing to maintain stabilization.
The property’s 1980 vintage is slightly newer than the neighborhood’s average 1970s stock. That positioning can be competitive versus older buildings, though investors should still plan for system updates and selective renovations to defend rents and reduce downtime.
Demographic statistics aggregated within a 3-mile radius show recent softness in population and households, with forecasts pointing to renewed population growth and an increase in households by the next five-year window. Rising incomes in the local forecast and modest rent levels suggest manageable affordability pressure, which can aid lease retention, though it may temper near-term pricing power.
Safety signals are mixed when viewed across metro and national lenses. Within the Toledo metro, the neighborhood’s overall crime rank sits on the higher-crime side (ranked 56 out of 244), indicating investors should underwrite proactive security measures and thoughtful site lighting/controls. Nationally, however, comparative indicators are more favorable, with broader crime measures placing the area above midpack versus neighborhoods nationwide.
Recent trends also diverge by category: property offense rates have improved materially year over year, while violent offense metrics show a near-term uptick. For underwriting, that argues for standard risk mitigation (access control, resident screening, partnerships with local law enforcement) and conservative loss assumptions, while recognizing the positive momentum in property-related incidents.
Proximity to established employers supports workforce renter demand and commute convenience, led by building materials, automotive components, and glass manufacturing corporate offices noted below.
- Owens Corning — building materials (3.2 miles) — HQ
- Dana Holding Corporation — automotive components (5.8 miles)
- Owens-Illinois — glass containers (11.8 miles) — HQ
- Dana — automotive components (12.4 miles)
3113 Navarre Ave offers an attainable, livability-driven play supported by top-quartile amenity access among 244 Toledo neighborhoods and a meaningful renter-occupied share that broadens the tenant base. The 1980 vintage is slightly newer than the area’s average 1970s stock, suggesting competitive positioning with room for targeted value-add to modernize interiors and building systems. According to CRE market data from WDSuite, neighborhood occupancy has softened, so returns will depend on focused leasing, resident retention, and capital planning that elevates the asset above nearby comparables.
Within a 3-mile radius, recent population and household counts dipped but are forecast to grow over the next five years, which can expand the renter pool and support stabilization. Modest rent levels relative to neighborhood incomes indicate manageable affordability pressure that can aid retention, though lower ownership costs in the broader market may create some competitive headwinds for rent growth.
- Top-quartile neighborhood amenities and services among 244 Toledo neighborhoods support resident retention and leasing.
- 1980 construction offers competitive positioning versus older 1970s stock with clear value-add and systems-upgrade pathways.
- 3-mile forecasts point to population and household growth, expanding the tenant base and supporting occupancy.
- Risks: neighborhood occupancy has eased; school ratings are modest; safety indicators are mixed — underwrite conservative lease-up and standard security measures.