| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Good |
| Demographics | 29th | Poor |
| Amenities | 19th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1016 S Byrne Rd, Toledo, OH, 43609, US |
| Region / Metro | Toledo |
| Year of Construction | 1972 |
| Units | 35 |
| Transaction Date | 2022-02-28 |
| Transaction Price | $2,730,000 |
| Buyer | LINDA SUSAN ARMS 24 LLC |
| Seller | DOYCHEV BUILDING GROUP INC |
1016 S Byrne Rd Toledo Workforce Multifamily
Neighborhood occupancy sits in the low 90s, supporting steady lease-up and retention according to WDSuite’s CRE market data, while an elevated renter-occupied share indicates depth in the local tenant base.
Positioned in Toledo’s inner-suburban fabric, the property benefits from a renter-driven neighborhood profile that supports multifamily demand. Neighborhood occupancy is around the low-90% range, and the area shows a high concentration of renter-occupied housing units, which generally bolsters the tenant pipeline and helps stabilize turnover in comparable assets.
Amenities are mixed: grocery access is competitive among Toledo neighborhoods (ranked 80 out of 244 in the metro), and restaurants track above the metro median (111 of 244), while cafes, parks, and pharmacies are relatively sparse locally. For investors, this suggests day-to-day convenience for residents without the premium amenity density seen in top-quartile sub-areas.
School scores in the immediate area track below national averages based on WDSuite’s data, which can influence family-driven demand but is often less determinative for workforce-oriented properties. Median contract rents in the neighborhood sit below national medians, pointing to value positioning and potentially steadier lease retention versus higher-cost submarkets.
Within a 3-mile radius, recent years show population edging down while household counts increased modestly, indicating smaller household sizes and a stable to expanding renter pool. Looking forward, WDSuite’s forecasts call for additional household growth by 2028, which supports occupancy stability for well-managed multifamily assets even as ownership remains relatively accessible in the broader area.
The 1972 vintage is older than the neighborhood’s average construction year (1979), signaling potential value-add via unit and system upgrades; investors should plan for targeted capital improvements to enhance competitive positioning and capture renovation-driven rent lifts while maintaining affordability appeal.
Safety indicators trend below the metro average: the neighborhood ranks 218 out of 244 Toledo neighborhoods for overall crime, placing it on the weaker end locally and below the national midpoint. That said, recent WDSuite data shows a meaningful year-over-year decline in violent incidents and a decrease in property offenses, suggesting improving momentum.
Investors should underwrite appropriate security measures, lighting, and property management practices, and consider how the trend of declining incidents could support leasing and retention over the hold period if improvements continue.
Nearby employment is anchored by manufacturing and materials companies in the Toledo core, supporting a sizable workforce renter base and commute convenience for residents. Notable employers include Owens Corning, Dana, Dana Holding, and Owens-Illinois.
- Owens Corning — building materials (5.1 miles) — HQ
- Dana — auto parts (5.1 miles)
- Dana Holding — auto parts (5.1 miles) — HQ
- Owens-Illinois — glass packaging (6.6 miles) — HQ
- Dana Holding Corporation — auto parts (7.4 miles)
This 35-unit, 1972-vintage asset offers a workforce housing profile supported by a high renter concentration in the neighborhood and occupancy around the low-90% range. According to CRE market data from WDSuite, the area’s rent levels and home values position rentals as an accessible option, helping sustain tenant demand and limiting lease-up risk for well-managed properties.
The vintage points to clear value-add potential through unit renovations and targeted system upgrades, with pricing power best realized by balancing improvements against area affordability to protect retention. While amenity density is moderate and safety metrics trail the metro average, proximity to major employers in the Toledo core supports consistent renter inflows and day-to-day commute convenience.
- Elevated renter-occupied housing share supports a deeper tenant base and steady leasing.
- Occupancy in the low-90% range indicates demand stability for comparable assets.
- 1972 vintage provides value-add potential via unit updates and building system improvements.
- Workforce employment anchors nearby (materials, auto parts, packaging) underpin renter demand.
- Risks: below-metro safety rankings and modest amenity density require prudent management and underwriting.