| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Good |
| Demographics | 38th | Poor |
| Amenities | 11th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1035 Garden Lake Pkwy, Toledo, OH, 43614, US |
| Region / Metro | Toledo |
| Year of Construction | 2010 |
| Units | 42 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1035 Garden Lake Pkwy, Toledo OH Multifamily Investment
Stabilized renter demand in the surrounding neighborhood, with occupancy running strong according to WDSuite’s CRE market data, positions this 2010-vintage, 42-unit asset for durable cash flow.
The property sits in an Inner Suburb of Toledo where neighborhood occupancy is competitive among 244 metro neighborhoods and ranks above the metro median, supporting steady leasing conditions. Neighborhood occupancy is in the top quintile nationally, indicating a track record of keeping units filled through cycles.
Renter-occupied housing accounts for roughly half of local units, signaling a meaningful tenant base for multifamily. Median contract rents in the neighborhood remain comparatively accessible relative to incomes, which can aid retention and reduce turnover volatility from affordability pressure.
Within a 3-mile radius, recent years show a modest decline in population alongside a slight increase in household counts and smaller average household sizes. Forward-looking estimates point to additional household growth and rising incomes, expanding the renter pool and supporting occupancy stability even if population growth is uneven.
Local amenities are car-oriented: restaurant density is relatively better than other categories, while grocery, cafe, park, and pharmacy options are limited within the immediate neighborhood. For investors, this suggests demand anchored more by housing practicality and commute patterns than by walkable retail; pricing and marketing should emphasize convenience and value rather than lifestyle adjacency.
Ownership costs in the area are comparatively manageable by national standards, which can create some competition from entry-level homebuying; however, this typically supports a bifurcated demand profile where multifamily serves residents prioritizing flexibility, lower upfront costs, and maintenance-free living, sustaining a dependable renter base.
Safety indicators for the neighborhood trend mixed relative to regional and national benchmarks. Compared with neighborhoods nationwide, safety falls below average; however, estimated violent and property offense rates have improved over the past year, indicating recent positive momentum.
Within the Toledo metro, the neighborhood’s crime position (measured against 244 neighborhoods) indicates it trails the metro average, so underwriting should reflect conservative assumptions for security measures and insurance. The year-over-year declines in estimated violent and property incidents provide a constructive trend to monitor rather than a guarantee.
Proximity to a diversified set of corporate offices supports workforce housing demand and commute convenience for renters, notably from employers such as Owens Corning, Dana, and Owens-Illinois.
- Owens Corning — corporate offices (3.7 miles) — HQ
- Dana — corporate offices (6.2 miles)
- Dana Holding — corporate offices (6.2 miles) — HQ
- Dana Holding Corporation — corporate offices (6.6 miles)
- Owens-Illinois — corporate offices (7.0 miles) — HQ
Built in 2010, the asset is materially newer than much of the surrounding housing stock, positioning it competitively versus older properties while still warranting mid-life capital planning on systems and finishes. Neighborhood fundamentals are supportive: high occupancy and a renter concentration around half of units point to a sizable tenant base and steady leasing. Within a 3-mile radius, households are increasing and average household size is contracting, which typically expands the renter pool and supports occupancy stability.
Rents remain relatively accessible against incomes, and, according to CRE market data from WDSuite, neighborhood occupancy remains above the metro median, suggesting durable cash flow potential. Balanced against this are pragmatic considerations: a car-oriented amenity profile, safety metrics that trail national averages (though improving), and competition from comparatively accessible ownership options; these factors argue for disciplined underwriting and asset management rather than outsized rent growth assumptions.
- 2010 vintage offers competitive positioning versus older local stock with clear, manageable mid-life capex planning
- Strong neighborhood occupancy and meaningful renter concentration support leasing stability
- 3-mile household growth and smaller household sizes expand the renter pool and support retention
- Risks: car-oriented amenity profile, below-average safety (improving), and potential competition from accessible ownership options