| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Fair |
| Demographics | 46th | Fair |
| Amenities | 48th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 101 Silverside Dr, Toledo, OH, 43612, US |
| Region / Metro | Toledo |
| Year of Construction | 1982 |
| Units | 70 |
| Transaction Date | 2017-03-07 |
| Transaction Price | $1,589,700 |
| Buyer | NORTH TOIWNE LLC |
| Seller | NORTH TOWNE VILLAGE LTD |
101 Silverside Dr, Toledo OH Multifamily Investment
Stabilized neighborhood fundamentals and an attainable renter profile support durable demand, according to WDSuite’s CRE market data. 1982 vintage and mid-size scale position the asset for competitive operations with potential value-add upside.
The property sits in a B+ rated Toledo neighborhood (ranked 80 of 244), which is competitive among Toledo neighborhoods on overall livability. Daily needs are convenient: grocery access ranks well within the metro, restaurants are present, and childcare density is strong, while parks and cafes are thinner—typical for this area’s suburban-rural edge. Compared with national peers, amenities land around the middle of the pack.
Neighborhood occupancy is near the metro midpoint, suggesting steady but not tight leasing conditions that reward hands-on management and renewal focus. The local renter concentration is moderate at the neighborhood level, while the broader 3-mile area shows a deeper renter base, indicating a wider catchment for leasing and marketing. Median rents in the neighborhood skew accessible relative to incomes, which tends to support retention but can temper near-term pricing power.
The asset’s 1982 construction is newer than the neighborhood’s average vintage (1970s). That positioning can help competitiveness versus older stock, though systems and common areas may still warrant targeted upgrades to drive rent premiums and reduce longer-term capital risk.
Within a 3-mile radius, population and households have grown, with projections calling for further population growth and a notable increase in household count alongside smaller average household sizes. For investors, that points to a larger tenant base and more renters entering the market over time, supporting occupancy stability and lease-up velocity for well-positioned units.
Home values in the neighborhood are lower than national norms, which can create some competition from entry-level ownership. For multifamily, this typically means leasing strategies should emphasize convenience, flexibility, and move-in readiness to sustain pricing and retention.
Safety metrics for the neighborhood trail nationwide averages, but year-over-year trends show improvement. Violent offense estimates declined notably over the last year, landing in a stronger improvement tier compared with many U.S. neighborhoods, and property offense rates also moved lower. In the metro context (ranked against 244 Toledo neighborhoods), this area sits below the metro median for safety today, so investors should plan for standard security measures, lighting, and community engagement to support resident comfort.
The area draws on a diverse employment base anchored by manufacturing and building materials, supporting workforce housing demand and reasonable commute times for residents. Nearby employers include Dana and Owens Corning, with additional corporate hubs across the metro.
- Dana Holding Corporation — automotive components (1.3 miles)
- Owens Corning — building materials (5.2 miles) — HQ
- Dana — automotive components (12.8 miles)
- Dana Holding — automotive components (12.8 miles) — HQ
- Owens-Illinois — glass/packaging (14.1 miles) — HQ
This 70-unit, 1982-vintage property provides scale in a neighborhood with steady leasing dynamics and a renter pool supported by nearby employers. According to CRE market data from WDSuite, neighborhood rents remain accessible relative to incomes—helpful for renewal stability—while the broader 3-mile area indicates a larger, gradually expanding tenant base. The vintage is newer than surrounding stock from the 1970s, offering a competitive edge with targeted modernization to drive premiums.
Forward-looking demographics within 3 miles point to population growth, an increase in households, and smaller household sizes—conditions that typically expand the renter pool and support occupancy over time. At the same time, lower local home values can increase competition from ownership, so emphasizing convenience, resident services, and refreshed interiors can sustain leasing velocity and pricing power.
- Neighborhood positioning competitive within Toledo with accessible rents supporting renewal stability
- 1982 vintage newer than local average, with value-add potential through targeted updates
- 3-mile trends indicate renter pool expansion, aiding occupancy and leasing performance
- Employer proximity (Dana, Owens Corning) supports workforce housing demand and retention
- Risk: Lower ownership costs locally can compete with rentals—active leasing and amenity focus recommended