| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Best |
| Demographics | 73rd | Best |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6600 Convent Blvd, Sylvania, OH, 43560, US |
| Region / Metro | Sylvania |
| Year of Construction | 1988 |
| Units | 98 |
| Transaction Date | 1990-12-26 |
| Transaction Price | $2,850,000 |
| Buyer | --- |
| Seller | --- |
6600 Convent Blvd Sylvania Multifamily Investment
Neighborhood fundamentals point to steady renter demand supported by schools, amenities, and nearby employers, according to WDSuite’s CRE market data. The asset’s suburban setting and renter concentration in the area support leasing durability through cycles.
Sylvania’s Inner Suburb location scores well on overall livability, with the neighborhood ranked 14 out of 244 in the Toledo metro (top quartile among 244 metro neighborhoods). For investors, that positioning signals durable demand drivers and relative competitiveness versus other Toledo submarkets.
Local amenity access is a strength: neighborhood child care and grocery availability track in the 90th-plus national percentiles, and park access is also strong. Schools average 4.0 out of 5, ranking 13 of 244 in the metro and near the top quartile nationally — a profile that can support family-oriented renter retention and longer tenancies.
Multifamily dynamics are mixed but serviceable. Neighborhood occupancy is moderate, while the share of housing units that are renter-occupied is comparatively elevated for the metro (around the 80th national percentile), indicating a deeper tenant base for apartments and consistent leasing activity.
Demographic statistics aggregated within a 3-mile radius show modest population growth over the last five years and a projected increase in households over the next five, with smaller average household sizes expected. Together, these trends point to a larger tenant base and more renters entering the market, which supports occupancy stability and future demand. Median household incomes in the 3-mile area are solid and rising, helping maintain rent-to-income levels that can aid retention and reduce turnover risk.
Vintage also favors competitive positioning: the property’s 1988 construction is newer than the neighborhood’s average stock from the late 1970s, which can reduce near-term functional obsolescence versus older product, though select modernization or system updates may still be warranted to meet current renter expectations.
Safety indicators compare favorably in a national context. The neighborhood sits in a higher national safety percentile, and recent trends show meaningful year-over-year declines in both property and violent offenses, according to WDSuite’s data. This directional improvement, while not a guarantee, supports perception stability and can aid leasing and retention relative to areas with worsening trends.
As always, conditions can vary by block and over time; investors should assess property-level measures and recent comparables to understand how neighborhood trends translate to on-site performance.
Proximity to established corporate employers underpins local renter demand and commute convenience, particularly for households working at Owens Corning, Dana, and Owens-Illinois, with Thermo Fisher Scientific adding regional depth.
- Owens Corning — building materials (9.7 miles) — HQ
- Dana Holding — automotive components (9.7 miles) — HQ
- Owens-Illinois — glass & packaging (12.8 miles) — HQ
- Thermo Fisher Scientific — life sciences (39.7 miles)
This 98-unit, 1988-vintage asset benefits from a suburban neighborhood ranked in the top quartile among Toledo metro peers, strong K–12 positioning, and amenity access that supports family and workforce renters. According to CRE market data from WDSuite, neighborhood renter concentration is comparatively high for the metro, helping sustain depth of demand even as overall occupancy trends remain moderate. The property’s newer vintage versus local stock enhances competitive standing against older product, while 3-mile demographics point to incremental population growth, a notable rise in households, and declining household sizes — all consistent with a larger tenant base over time.
Income levels in the surrounding 3-mile area are healthy, and rent-to-income readings suggest manageable affordability pressure, which can support retention and reduce concessions risk. Counterbalancing factors include moderate neighborhood occupancy and accessible ownership options in parts of the metro, which may temper pricing power in certain vintages or unit mixes.
- Competitive Inner Suburb location with top-quartile metro ranking and strong school positioning
- 1988 vintage is newer than neighborhood average, offering relative competitiveness versus older stock
- Deeper renter-occupied share in the neighborhood supports leasing stability and tenant base depth
- Risk: moderate neighborhood occupancy and accessible ownership options could cap near-term pricing power