| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Good |
| Demographics | 38th | Poor |
| Amenities | 11th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1060 Garden Lake Pkwy, Toledo, OH, 43614, US |
| Region / Metro | Toledo |
| Year of Construction | 2008 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1060 Garden Lake Pkwy Toledo Multifamily, 2008 Vintage
According to WDSuite’s CRE market data, neighborhood occupancy is competitive in the Toledo metro and supports stable leasing, while the 2008 construction positions this asset favorably versus older local stock.
Located in an Inner Suburb of Toledo with a C+ neighborhood rating, the area shows competitive occupancy performance among 244 metro neighborhoods and a high national percentile for occupancy. That backdrop, per WDSuite, indicates steady renter demand that can aid renewal rates and limit downtime.
The property’s 2008 vintage is newer than the neighborhood’s older housing stock (average year built 1943), which can enhance competitive positioning and reduce near‑term capital needs relative to legacy assets. Investors should still plan for periodic system updates and light modernization to support rent objectives.
Renter-occupied share in the neighborhood is about half of housing units, a renter concentration that supports a deeper tenant base for multifamily operators. Within a 3‑mile radius, household counts have held roughly stable in recent years and are projected to increase meaningfully alongside a decline in average household size, which expands the number of households and can support renter pool expansion and occupancy stability.
Amenity access is limited for daily needs (few groceries, pharmacies, parks, and cafes within the immediate neighborhood), though restaurant density is comparatively stronger versus many areas. Home values are relatively low in the neighborhood context, which can introduce some competition from entry-level ownership; however, rent-to-income levels are moderate, suggesting room for disciplined pricing without outsized retention risk. These dynamics, based on WDSuite’s commercial real estate analysis, point to a workforce-oriented renter base with pragmatic value positioning.
Safety trends should be evaluated in context. The neighborhood ranks in the lower half of Toledo’s 244 neighborhoods for safety, indicating comparatively higher crime than many parts of the metro. Nationally, both property and violent offense rates sit in lower percentiles, signaling elevated risk versus many U.S. neighborhoods.
That said, recent year-over-year shifts show meaningful improvement, with both property and violent offense estimates trending down. For investors, this mix suggests underwriting with conservative assumptions, monitoring trend continuity, and emphasizing standard security measures and resident engagement to support retention.
Nearby anchors span building materials and automotive manufacturing, providing diversified employment nodes that support workforce housing demand and practical commute times for residents: Owens Corning, Dana, and Owens-Illinois are the primary draws listed below.
- Owens Corning — building materials (3.7 miles) — HQ
- Dana — auto parts (6.2 miles)
- Dana Holding — auto parts (6.2 miles) — HQ
- Dana Holding Corporation — auto parts (6.6 miles)
- Owens-Illinois — glass packaging (6.9 miles) — HQ
Built in 2008 and totaling 20 units, this asset competes favorably against an older local housing base while serving a renter pool that, per WDSuite, benefits from competitive neighborhood occupancy and moderate rent-to-income levels. Within a 3‑mile radius, projections call for population growth and a notable increase in households as average household size declines, supporting a larger tenant base and sustained occupancy.
Home values in the neighborhood are relatively low, which can create some competition from ownership, yet the area functions as workforce housing with proximity to major employers. According to CRE market data from WDSuite, occupancy at the neighborhood level remains strong versus many Toledo submarkets and compares well nationally, suggesting potential for steady cash flow with disciplined rent management. Investors should underwrite standard capital for mid‑life systems and remain mindful of safety trends, which have recently improved but still warrant conservative assumptions.
- 2008 vintage offers competitive positioning versus older neighborhood stock with manageable near‑term capex
- Competitive neighborhood occupancy and moderate rent-to-income support leasing stability
- 3‑mile radius shows projected household growth and smaller household sizes, expanding the renter base
- Proximity to Owens Corning, Dana, and Owens-Illinois underpins workforce demand
- Risks: limited nearby amenities and below-average safety metrics call for conservative underwriting and asset management