| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Best |
| Demographics | 63rd | Best |
| Amenities | 46th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3525 Navarre Ave, Oregon, OH, 43616, US |
| Region / Metro | Oregon |
| Year of Construction | 1978 |
| Units | 54 |
| Transaction Date | 1994-08-10 |
| Transaction Price | $1,025,000 |
| Buyer | WURSTER THOMAS B |
| Seller | TREEGREEN APARTMENTS |
3525 Navarre Ave Oregon OH Multifamily Investment
Neighborhood occupancy is healthy and renter affordability appears manageable, supporting steady leasing dynamics, according to WDSuite’s CRE market data. This location offers stable workforce demand with potential value-add upside from a 1978 vintage asset.
The property sits in the Oregon submarket of the Toledo metro, where neighborhood-level occupancy is reported at 94.9% (neighborhood metric, not property-specific) based on CRE market data from WDSuite. Within a 3-mile radius, an estimated 35% of housing units are renter-occupied, indicating a modest but dependable tenant base that can support renewal and lease-up stability.
Livability signals are mixed to positive. Restaurant and grocery access track near or slightly above national norms, and pharmacies score in a higher national percentile, while parks and dedicated childcare options are thinner locally. Public school quality trends strong, with the neighborhood competitive among Toledo, OH neighborhoods (13 of 244) and in the top quartile nationally by average school rating — factors that can aid retention for family-oriented renters.
Relative cost dynamics favor sustained rental demand management. The neighborhood’s rent-to-income ratio trends low versus national benchmarks, suggesting lower affordability pressure on tenants and potentially steadier collections, while a value-to-income profile points to a comparatively accessible ownership market that can create competition for move-up renters. For investors, this typically argues for disciplined revenue management and amenity upgrades to maintain pricing power.
Vintage matters: the asset’s 1978 construction predates the area’s average construction year (1994). That age gap often signals near- to medium-term capital planning needs but also opens value-add paths through unit interiors, building systems, and curb appeal to compete effectively against newer nearby stock.
Safety indicators benchmark favorably at the national level, with the neighborhood trending above the U.S. average on overall and violent-crime percentiles, per WDSuite. Recent readings also point to year-over-year declines in estimated violent and property offenses, a constructive directional trend for long-term leasing stability. Conditions can vary block to block, so investors typically underwrite to property-level controls and lighting, along with resident screening and partnerships with local public safety where appropriate.
Nearby anchor employers include corporate headquarters and major offices that underpin a steady commuter base and support workforce housing demand: Owens Corning, Dana, and Owens-Illinois within a regional drive, plus Marathon Petroleum farther out.
- Owens Corning — building materials HQ (3.7 miles) — HQ
- Dana Holding Corporation — automotive components (6.1 miles)
- Owens-Illinois — glass packaging (12.1 miles) — HQ
- Dana — automotive components (12.8 miles)
- Marathon Petroleum — energy (42.6 miles) — HQ
This 54-unit, 1978-vintage asset offers a straightforward value-add thesis in a neighborhood showing healthy renter demand and occupancy stability at the area level. Based on CRE market data from WDSuite, neighborhood occupancy remains solid, and a renter-occupied share within 3 miles provides depth for steady leasing, while rent-to-income conditions suggest manageable affordability pressure that can support collections and retention.
The surrounding area’s school quality trends competitive locally and strong nationally, which can bolster family renter stickiness. Ownership costs are comparatively accessible in the neighborhood context, which may limit outsized rent growth but can be countered with focused renovations and amenity positioning to defend occupancy and drive measured NOI gains over time.
- Neighborhood occupancy reads healthy, supporting ongoing stability (neighborhood metric, not property-specific).
- 1978 vintage creates clear value-add levers across interiors and systems to compete with newer stock.
- Competitive school ratings and adequate daily amenities aid resident retention.
- Rent-to-income dynamics indicate manageable affordability pressure, supporting collections and lease renewals.
- Risks: relatively accessible ownership options and limited park/childcare amenities may cap pricing power without upgrades.