| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Good |
| Demographics | 29th | Poor |
| Amenities | 19th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1407 Brookview Dr, Toledo, OH, 43615, US |
| Region / Metro | Toledo |
| Year of Construction | 1979 |
| Units | 24 |
| Transaction Date | 2011-03-07 |
| Transaction Price | $1,350,000 |
| Buyer | TSCHANNEN ERNEST E |
| Seller | K & R REAL ESTATE MANAGEMENT LLC |
1407 Brookview Dr Toledo Multifamily Investment
Neighborhood-level occupancy has been steady and renter concentration is high, supporting a durable tenant base according to WDSuite’s CRE market data. This balanced backdrop, paired with measured lease-up expectations informed by commercial real estate analysis, positions the asset for pragmatic, operations-first execution.
The property sits in an Inner Suburb of Toledo where neighborhood occupancy trends are above the national median, and the share of renter-occupied units is notably high. For investors, that points to a deeper pool of prospective tenants and potential stability in lease renewals, though pricing power should be managed with attention to local income dynamics.
Amenity access is mixed: neighborhood grocery availability is competitive among Toledo neighborhoods (ranked 80 out of 244; 62nd percentile nationally), while parks, pharmacies, cafes, and childcare options are sparse, indicating a more car-oriented location. Restaurant density is around the metro middle, which can support day-to-day convenience but may not be a differentiator in marketing.
Home values in the immediate area are on the lower end compared with national norms, and neighborhood-level rents are modest. This context often supports retention and helps manage affordability pressure (rent-to-income near one-quarter locally), but it can temper near-term rent growth aspirations and requires disciplined expense control to sustain returns.
Demographic statistics aggregated within a 3-mile radius show a recent dip in population alongside a small rise in household counts, implying smaller household sizes and a steady renter pool. Forward-looking projections in the same 3-mile radius indicate increases in both population and households, which would expand the tenant base and help support occupancy stability if realized, based on CRE market data from WDSuite.
Safety indicators are below metro averages for Toledo, with neighborhood crime conditions ranking in the lower tier among 244 metro neighborhoods and comparing weakly to national benchmarks. That said, recent trends point to improvement, with a year-over-year decline in estimated violent offenses suggesting conditions may be easing.
Investors should underwrite to the local operating reality—enhanced site-level security, lighting, and resident engagement programs can be useful tools—and track continuing trend lines rather than block-level snapshots.
Proximity to established corporate offices underpins working-household demand and commute convenience, led by automotive, building materials, and packaging employers noted below.
- Dana — automotive supplier (4.8 miles)
- Dana Holding — automotive supplier (4.8 miles) — HQ
- Owens Corning — building materials (5.4 miles) — HQ
- Owens-Illinois — glass packaging (6.5 miles) — HQ
- Dana Holding Corporation — automotive supplier (7.7 miles)
This 24-unit asset benefits from a renter-heavy neighborhood and occupancy levels that sit above national medians, supporting day-to-day leasing stability. Neighborhood rents are modest, which can aid retention and smooth collections, but it also means rent growth should be pursued through targeted operational improvements and careful unit positioning rather than aggressive mark-to-market assumptions. According to CRE market data from WDSuite, amenity access is serviceable for groceries but limited for parks and pharmacies, underscoring the importance of on-site conveniences and efficient property management.
Within a 3-mile radius, recent household growth alongside slight population contraction indicates smaller household sizes and a steady renter pool; projections point to expansion in both households and population, which would widen the tenant base and support occupancy if realized. Underwriting should reflect local income levels and a value-driven leasing strategy, with expense discipline central to maintaining yield in a lower-rent environment.
- Renter-heavy neighborhood and above-median occupancy support stable leasing
- Modest neighborhood rents favor retention; prioritize operational efficiency for NOI
- 3-mile projections indicate a larger tenant base, aiding future occupancy
- Nearby corporate offices bolster workforce housing demand and leasing velocity
- Risk: Safety metrics trail metro; proactive site security and resident engagement recommended