| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Fair |
| Demographics | 41st | Fair |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1000 W State Line Rd, Toledo, OH, 43612, US |
| Region / Metro | Toledo |
| Year of Construction | 1985 |
| Units | 36 |
| Transaction Date | 1998-09-15 |
| Transaction Price | $465,000 |
| Buyer | PEACOCK TED D |
| Seller | HEF INC |
1000 W State Line Rd Toledo 36-Unit Multifamily
Neighborhood occupancy trends point to stable renter demand in this inner-suburban pocket of Toledo, according to WDSuite s CRE market data, with metrics measured at the neighborhood level rather than the property. The asset s positioning favors workforce housing dynamics and operational consistency over speculative growth.
This inner suburb of Toledo scores C+ overall and sits above the metro median for park access (85th percentile nationally), while restaurants are reasonably accessible (67th percentile). Daily conveniences like grocery, pharmacy, and cafes are thinner in the immediate neighborhood, so residents typically rely on short drives for errands. School ratings trend below metro norms, which may influence unit mix and leasing strategies for family households.
At the neighborhood level, occupancy is in a mid-range band, and median contract rents track on the lower side for the metro. That combination supports a value-oriented renter base and can aid leasing velocity, though it limits top-end pricing power. The share of housing units that are renter-occupied is roughly half, signaling a sizable tenant pool and demand depth for multifamily, while still competing with nearby ownership options.
The property s 1985 vintage is newer than the neighborhood s average construction year (1972). That relative youth can be a competitive advantage versus older stock, while still planning for selective renovations and system updates to strengthen positioning against comparable Class B assets.
Demographics aggregated within a 3-mile radius show a steady population base with a modest increase in households and smaller average household sizes projected through 2028, indicating gradual renter pool expansion and support for occupancy stability. In a lower-cost ownership market, elevated homeownership accessibility can create some competition, but moderate rent-to-income levels suggest manageable affordability pressure that can aid retention and reduce turnover risk.
Safety indicators for this neighborhood are below metro averages among 244 Toledo neighborhoods, and compare weaker nationally. However, year-over-year trends show improvement, with notable declines in estimated violent and property offenses, indicating momentum that investors should monitor over multiple periods rather than a single data point.
Framed comparatively, the area does not sit in the top quartile nationally for safety, but recent reductions in estimated incidents place it above metro median for improvement pace. For underwriting, prudent assumptions around security measures and insurance, plus attention to lighting and access control, can help support tenant retention.
Proximity to established manufacturers and corporate offices supports a blue-collar and office workforce renter base, aiding retention through commute convenience. Notable nearby employers include Dana, Dana Holding Corporation, Owens Corning, and Owens Illinois.
- Dana Holding Corporation corporate offices (2.2 miles)
- Owens Corning corporate offices (6.0 miles) HQ
- Dana corporate offices (12.9 miles)
- Dana Holding corporate offices (12.9 miles) HQ
- Owens Illinois corporate offices (14.5 miles) HQ
Built in 1985, this 36-unit asset is relatively newer than much of the nearby housing stock, offering competitive positioning against older Class B/C properties while leaving room for targeted value-add to modernize interiors and systems. According to CRE market data from WDSuite, neighborhood-level occupancy sits in a stable band and median rents skew affordable for the metro, which supports leasing velocity and lowers exposure to abrupt rent downsides.
Within a 3-mile radius, demographics indicate steady population with projected growth in households and smaller household sizes through 2028, expanding the renter pool and supporting occupancy stability over time. The market s lower home values can increase competition from ownership alternatives, but moderate rent-to-income levels favor retention and predictable cash flow, provided operators manage renewals carefully and calibrate pricing to the submarket s value orientation. Key watch items include amenity gaps, school quality, and safety trends, all of which are manageable with pragmatic operations and capex planning.
- Relative vintage advantage (1985) versus older neighborhood stock with practical value-add potential
- Stable neighborhood occupancy and value-oriented rents support leasing consistency
- 3-mile household growth and smaller household sizes expand the renter pool
- Workforce demand supported by nearby manufacturers and corporate offices
- Risks: amenity gaps, school quality, and below-metro safety metrics require conservative underwriting