| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Good |
| Demographics | 38th | Poor |
| Amenities | 11th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1055 Garden Lake Pkwy, Toledo, OH, 43614, US |
| Region / Metro | Toledo |
| Year of Construction | 2008 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1055 Garden Lake Pkwy Toledo 2008-Built 28-Unit Multifamily
Neighborhood occupancy is competitive among Toledo neighborhoods, and renter demand is supported by a top-quartile renter concentration for the area, according to CRE market data from WDSuite. Newer construction relative to local stock points to durable positioning with potential for stable operations.
Built in 2008, the property is materially newer than nearby housing, where the average vintage skews to the 1940s. For investors, that typically means a more competitive asset versus older stock and a clearer path to prioritize selective upgrades over heavy near-term capital projects.
Local livability is mixed: restaurants are reasonably represented compared with peers across the metro, while other amenities such as grocery, parks, and pharmacies are sparse in the immediate neighborhood. From an investment lens, this tends to position the asset as practical workforce housing rather than an amenity-driven play, with resident appeal tied to value and access rather than retail density.
Occupancy in the neighborhood ranks competitive among Toledo neighborhoods (65 of 244), a constructive backdrop for lease stability. The share of renter-occupied housing units is in the top quartile among 244 metro neighborhoods (50.9% share; rank 33), indicating a deep tenant base that supports absorption and renewals for multifamily. Median contract rents in the neighborhood sit below national norms, and the rent-to-income profile suggests manageable affordability pressure, which can aid retention and steady collections.
Within a 3-mile radius, demographics show households have inched higher over the past five years despite modest population contraction, and forecasts point to a meaningful increase in households by 2028. This dynamic—smaller average household size with more total households—can expand the renter pool and support occupancy over time. Home values in the area are relatively low for the nation, which can create some competition from entry-level ownership; however, that also reinforces the role of multifamily as a more accessible monthly payment option, supporting leasing velocity and renewals.
Safety conditions warrant measured expectations. The neighborhood’s crime profile ranks below the metro median (166 out of 244), and national positioning is weaker than average. However, recent year-over-year trends indicate notable improvement in both violent and property offense rates, suggesting some easing in incident frequency versus last year.
For investors, comparative framing is most useful: this area is not among Toledo’s safer neighborhoods today, but the improving trajectory provides a constructive signal to monitor alongside property-level security measures and resident screening practices.
Proximity to established corporate employers underpins steady renter demand, with convenient commutes to Owens Corning, Dana, and Owens-Illinois supporting workforce housing fundamentals.
- Owens Corning — building materials HQ (3.7 miles) — HQ
- Dana — automotive systems offices (6.2 miles)
- Dana Holding — automotive systems HQ (6.2 miles) — HQ
- Dana Holding Corporation — automotive systems offices (6.6 miles)
- Owens-Illinois — glass packaging HQ (6.9 miles) — HQ
The investment case centers on a 2008 vintage asset in an inner-suburban Toledo neighborhood where occupancy performance is competitive across the metro. Based on CRE market data from WDSuite, the immediate area maintains a top-quartile renter concentration, which supports depth of tenant demand. Newer construction relative to the local 1940s-average housing stock enhances competitive positioning versus older comparables and can moderate near-term capital exposure while leaving room for targeted value-add.
Within a 3-mile radius, households have grown modestly and are projected to rise further by 2028 even as average household size trends smaller—conditions that typically expand the renter pool and support occupancy stability. Restaurant access is reasonable, broader neighborhood amenities are limited, and safety ranks below the metro median—factors to underwrite through marketing, security, and operations—but the combination of attainable rents and strong renter orientation provides a practical foundation for consistent leasing.
- 2008 construction offers competitive positioning versus older local stock, with selective upgrade potential rather than heavy near-term capex.
- Competitive neighborhood occupancy and top-quartile renter concentration support tenant demand and renewal potential.
- 3-mile household growth and smaller household sizes point to a larger renter pool and steadier lease-up.
- Amenity-light location and below-median safety require thoughtful underwriting, marketing, and property-level security.