| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Best |
| Demographics | 73rd | Best |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1435 Bernath Pkwy, Toledo, OH, 43615, US |
| Region / Metro | Toledo |
| Year of Construction | 1974 |
| Units | 90 |
| Transaction Date | 2013-08-05 |
| Transaction Price | $2,550,000 |
| Buyer | PINEHURST PLACE LLC |
| Seller | PINE TREE APARTMENTS LLC |
1435 Bernath Pkwy, Toledo OH Multifamily Value-Add
Neighborhood-level occupancy is strong and renter demand is deep, according to WDSuite s CRE market data, supporting stable operations for a 90-unit asset with larger average floor plans. Metrics cited refer to the surrounding neighborhood, not the specific property.
Positioned in an Inner Suburb location with an A- neighborhood rating, the area ranks 46 out of 244 Toledo neighborhoods competitive among Toledo submarkets by local standards. Occupancy in the neighborhood is elevated and sits in the top quartile nationally (86th percentile), signaling a stable leasing backdrop that can support steady cash flow for multifamily owners.
The renter-occupied share is 54.4% of housing units in the neighborhood, indicating a meaningful renter concentration and a broad tenant base for multifamily demand. Median contract rents in the immediate area are modest relative to national norms, which, paired with a rent-to-income ratio around 0.13, can help support lease retention and measured pricing power rather than aggressive rent spikes.
Within a 3-mile radius, recent population trends have been flat to slightly negative, but forecasts point to gains by 2028 alongside a notable increase in households. A larger household count typically expands the renter pool and supports occupancy stability, particularly for practical unit mixes and mid-market price points.
Local amenity access is mixed: grocery options register competitively among metro peers, while parks, pharmacies, and cafes are limited within neighborhood boundaries. Childcare access scores above the metro median. Average school ratings are not available in this dataset; investors should underwrite school-driven demand cautiously and focus on commute access and daily-needs retail as the primary draw for residents.
The asset s 1974 vintage is slightly older than the neighborhood s average (1978). That age profile often implies near-term capital planning for building systems and presents potential value-add opportunities through targeted interior upgrades in units averaging roughly 980 square feet.
Safety conditions should be evaluated with neighborhood context. This area s crime rank is 147 out of 244 Toledo neighborhoods, indicating weaker safety performance versus many metro peers. Compared with neighborhoods nationwide, safety indicators track below the national median.
Trend signals are constructive: estimated violent offense rates declined sharply year over year, and property offenses also moved lower. While these improvements are encouraging, investors should still account for security, lighting, and resident-experience measures in underwriting and operations, benchmarking against comparable Inner Suburb assets across the Toledo region.
Proximity to established corporate offices underpins renter demand through steady white- and blue-collar employment and manageable commute times. Notable nearby employers include Dana, Dana Holding, Owens-Illinois, Owens Corning, and Dana Holding Corporation.
- Dana corporate offices (3.3 miles)
- Dana Holding corporate offices (3.3 miles) HQ
- Owens-Illinois corporate offices (6.1 miles) HQ
- Owens Corning corporate offices (7.6 miles) HQ
- Dana Holding Corporation corporate offices (9.6 miles)
This 90-unit, 1974-vintage community aligns with a neighborhood that is competitive among Toledo submarkets and exhibits high occupancy a favorable backdrop for cash flow management. According to CRE market data from WDSuite, the neighborhood sits in the top quartile nationally for occupancy, while the renter-occupied share (54.4%) suggests depth in the tenant base. With median rents modest relative to income (rent-to-income near 0.13), the area supports lease retention and steady renewal strategies rather than push-heavy rent growth.
Within a 3-mile radius, forecasts indicate growth in households by 2028, which points to renter pool expansion and supports sustained occupancy for well-maintained assets. Given the 1974 vintage, investors should plan for building-systems capex and consider targeted interior improvements to capture value-add returns, leveraging larger average unit sizes to differentiate versus older, smaller stock nearby.
- High neighborhood occupancy and meaningful renter concentration support stable leasing
- Household growth within 3 miles points to a larger renter base over the medium term
- Modest rent levels versus incomes favor retention-focused revenue management
- 1974 vintage presents value-add upside alongside necessary capital planning
- Risks: safety metrics below metro average and thinner walkable amenities require active asset management