| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Good |
| Demographics | 52nd | Good |
| Amenities | 54th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1610 Westland Gardens Rd, Toledo, OH, 43615, US |
| Region / Metro | Toledo |
| Year of Construction | 1980 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1610 Westland Gardens Rd Toledo Multifamily Opportunity
Neighborhood occupancy near 96% indicates stable renter demand in this suburban pocket of Toledo, according to WDSuite’s CRE market data.
Positioned in a suburban neighborhood rated A- and ranked 40 of 244 within the Toledo metro, the property benefits from a location that sits in the top quartile metro-wide for overall livability. For investors, this typically translates to steadier leasing and less volatility relative to lower-ranked areas.
Local daily needs are well-covered: grocery access and pharmacies rank in the mid-to-high range metro-wide and in the upper national percentiles, while park access is also strong. Dining density scores competitively for the metro, though cafes and childcare are relatively sparse — a nuance to consider when positioning amenities and services.
Neighborhood occupancy is 96.2% (neighborhood-level), which supports an expectation of leasing stability. The renter-occupied share sits around the lower-to-mid range for the metro (about one-quarter of units), suggesting a moderate renter base that can favor retention for well-managed communities, especially where unit finishes and maintenance outperform nearby options.
Three-mile demographics point to a growing tenant base: population and households have expanded in recent years, with projections calling for continued population growth and a notable increase in households by 2028. This dynamic, coupled with a rent-to-income ratio around 0.12 at the neighborhood level, indicates relatively manageable affordability pressure — constructive for lease renewals and occupancy management.
Home values in the neighborhood are lower relative to income by national standards, which can make ownership more accessible and create some competition for renters. For multifamily operators, this favors value-oriented positioning, family-friendly layouts, and service quality that reinforces the convenience advantage of renting.
School ratings in the area track near the national middle, which neither adds a premium nor poses a major drag. For family-oriented floor plans, emphasizing maintenance reliability, parking, and proximity to parks may be more influential than school-tier alone in driving leasing decisions.
Safety indicators are mixed but improving. The neighborhood’s crime standing is around the metro median (122 of 244 Toledo neighborhoods), and overall crime levels sit modestly better than the national midpoint. Violent incidents benchmark below national safety percentiles, yet year-over-year trends show meaningful improvement, with both violent and property offense rates declining.
For underwriting, treat safety as a watch item rather than a structural deterrent: recent downward momentum in estimated offense rates is constructive, but performance will likely hinge on on-site lighting, access controls, and resident screening to sustain leasing and retention.
Proximity to major corporate offices — Dana, Owens Corning, Owens-Illinois, Marathon Petroleum, and Thermo Fisher Scientific — supports a broad employment base and commute convenience for renters.
- Dana Holding — corporate offices (6.1 miles) — HQ
- Owens Corning — corporate offices (7.5 miles) — HQ
- Owens-Illinois — corporate offices (9.0 miles) — HQ
- Marathon Petroleum — corporate offices (42.8 miles) — HQ
- Thermo Fisher Scientific — corporate offices (43.5 miles)
This 100-unit, 1980-vintage asset sits in a top-quartile Toledo neighborhood where occupancy at the neighborhood level is strong, supporting cash flow stability and consistent leasing. Three-mile demographics indicate population growth to date and a projected increase in households through 2028, expanding the local renter pool. According to CRE market data from WDSuite, the neighborhood’s rent-to-income ratio near 0.12 suggests manageable affordability pressure, which can aid renewal rates and pricing discipline.
The 1980 vintage points to clear value-add avenues — modernization of interiors, common areas, and select building systems — to enhance competitive positioning. While lower home values relative to income can increase competition from ownership options, emphasizing service reliability, family-friendly layouts, and convenience can sustain demand, particularly given the area’s access to parks, daily needs, and nearby corporate headquarters.
- Neighborhood-level occupancy and growing 3-mile households support leasing stability.
- 1980 vintage offers value-add potential via renovations and systems upgrades.
- Rent-to-income near 0.12 indicates lower affordability pressure and supports retention.
- Nearby corporate HQs within roughly 10 miles broaden the renter base.
- Risk: accessible homeownership and uneven amenity mix may temper pricing power — focus on differentiation and service quality.