| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Fair |
| Demographics | 44th | Fair |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1002 Jefferson Ave, Toledo, OH, 43604, US |
| Region / Metro | Toledo |
| Year of Construction | 2009 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1002 Jefferson Ave Toledo Multifamily Investment (2009)
Downtown Toledo location with proximity to major employers and a renter-heavy neighborhood supports steady leasing potential, according to WDSuite’s CRE market data. The 2009 vintage offers competitive positioning versus older local stock while still allowing targeted value-add.
Situated in Toledo’s inner-core, the property benefits from a neighborhood rated A- and ranked 44 of 244 metro neighborhoods—top quartile locally—which signals competitive fundamentals for multifamily. Neighborhood occupancy runs in a stable band (measured for the neighborhood, not the property), with modest improvement over five years that favors tenant retention assumptions over aggressive lease-up.
The 2009 construction stands notably newer than the area’s older housing stock (average vintage 1926). For investors, this points to fewer near-term capital items versus prewar assets and the ability to focus spend on modernization and revenue-driving upgrades, while recognizing that mid-life building systems may still warrant selective replacement during the hold.
Amenity access is a strength: restaurant and cafe densities are top decile nationally, and grocery and pharmacy access also rank well. The trade-off is very limited park acreage and school ratings that trail national benchmarks—factors to weigh for family-oriented demand. Neighborhood-level median contract rents remain comparatively accessible, supporting lease retention and reducing move-out risk, though near-term rent growth may lag pricier submarkets.
Within a 3-mile radius, recent population edged down while household counts held roughly flat, and WDSuite’s projections point to a meaningfully larger household base by 2028—an outlook that can expand the renter pool and support occupancy stability. Renter concentration is high at the neighborhood level (share of housing units that are renter-occupied), deepening the tenant base for workforce-oriented multifamily and informing practical commercial real estate analysis around demand durability.
Safety indicators sit below both metro and national norms for this location. The neighborhood ranks 221 of 244 within the Toledo metro, placing it among the less safe local areas. Nationally, relative positioning is also weak; however, year-over-year data show meaningful declines in both violent and property offenses, indicating improvement from a high base. Investors should underwrite enhanced security, lighting, and access controls while recognizing the recent directional trend.
The address is near a cluster of corporate offices that anchor a daily commuter base and support renter demand through short commutes and employment stability. Notable nearby employers include Owens Corning, Dana, Owens-Illinois, and Marathon Petroleum.
- Owens Corning — building materials (0.6 miles) — HQ
- Dana Holding Corporation — automotive components (3.6 miles)
- Dana Holding — automotive components (9.9 miles) — HQ
- Owens-Illinois — glass packaging (10.2 miles) — HQ
- Marathon Petroleum — energy & refining (43.0 miles) — HQ
A 48-unit, 2009-built asset in a top-quartile local neighborhood offers a balanced thesis: high renter concentration at the neighborhood level deepens the tenant base, while the newer vintage competes well against older stock and supports a targeted renovation program. Amenity density and major employers within an easy commute underpin workforce demand and leasing stability. According to CRE market data from WDSuite, neighborhood occupancy has trended steady with recent improvement, supporting a focus on retention and measured rent growth rather than heavy lease-up risk.
Forward-looking demographics within a 3-mile radius point to a larger household base by 2028, implying renter pool expansion that can sustain occupancy. Offsetting considerations include below-average safety indicators and limited parks and school performance, which call for prudent operating practices and positioning toward urban renters prioritizing access and value.
- 2009 vintage versus older neighborhood stock supports competitive positioning and selective value-add
- High neighborhood renter-occupied share indicates depth of tenant base and demand resilience
- Amenity-rich urban setting and proximity to major employers support leasing and retention
- Risks: below-average safety metrics and limited parks/school quality warrant conservative operations