| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Best |
| Demographics | 36th | Poor |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1720 Secor Rd, Toledo, OH, 43607, US |
| Region / Metro | Toledo |
| Year of Construction | 1973 |
| Units | 73 |
| Transaction Date | 1988-01-11 |
| Transaction Price | $1,216,800 |
| Buyer | --- |
| Seller | MARSHALL CHARLES O JR ET |
1720 Secor Rd, Toledo OH — Multifamily Investor Snapshot
Neighborhood renter demand is durable, with occupancy improving in recent years and a deep renter-occupied base, according to WDSuite’s CRE market data. Positioning and operations will matter more than amenities, but stable tenancy supports consistent cash flow potential.
The property sits in an Inner Suburb of Toledo where daily needs are close at hand: grocery stores, parks, and pharmacies rank in the higher tiers locally and compare favorably to national norms, while restaurants are relatively dense. Café and childcare options are thinner in the immediate area, so resident appeal will lean on essentials and access rather than specialty retail.
Neighborhood occupancy is in the high 80s and has trended upward over the past five years, and the share of housing units that are renter-occupied is among the highest in the metro (top percentile nationally). For investors, this indicates a sizable tenant base and supports leasing stability when paired with competitive pricing and management.
Schools in the surrounding area average about mid-range performance (around the 60th percentile nationally), which can aid retention for residents prioritizing education. Compared with the broader Toledo metro, this neighborhood is competitive on amenities but sits near the metro median overall (rank 71 out of 244 neighborhoods; B+ rating).
Built in 1973, the asset is newer than the neighborhood’s average housing vintage (1950s era). That positioning can be an advantage versus older stock, while still warranting a pragmatic capital plan for systems modernization and selective value‑add to improve rentability and durability.
Demographic statistics aggregated within a 3‑mile radius show a modest population dip in recent years alongside a small increase in households, pointing to smaller household sizes and a steady renter pool. WDSuite’s outlook anticipates household growth and higher median incomes in the 3‑mile area over the next five years, which would expand the local tenant base and support occupancy and rent growth if realized.
Safety conditions are mixed relative to the region. Neighborhood crime ranks in the lower tier compared with Toledo’s 244 neighborhoods (i.e., below the metro average), and safety levels are below national norms. However, year‑over‑year trends point to improvement, with both property and violent offense rates declining, according to WDSuite’s CRE market data.
For underwriting, this suggests weighing conservative assumptions for security measures and marketing, while recognizing recent momentum. Positioning with lighting, access control, and resident engagement can help support retention in an area that is improving but still trails metro leaders.
Nearby anchor employers provide a diversified employment base within a short commute, supporting workforce housing demand and lease retention. Key nodes include Owens Corning, Dana’s regional operations, and Owens‑Illinois.
- Owens Corning — building materials HQ (4.6 miles) — HQ
- Dana Holding Corporation — automotive components (5.5 miles)
- Dana — automotive components (7.2 miles)
- Dana Holding — automotive components (7.2 miles) — HQ
- Owens‑Illinois — glass packaging HQ (9.0 miles) — HQ
1720 Secor Rd is a 1973, mid‑vintage asset in a renter‑heavy neighborhood where occupancy has strengthened and essentials‑oriented amenities are competitive. The combination of a deep renter base, improving neighborhood occupancy, and proximity to major employers supports a stable leasing thesis, while the vintage creates scope for targeted value‑add and systems upgrades to enhance rentability.
Within a 3‑mile radius, recent patterns show slightly fewer residents but more households and a younger‑skewing adult share, pointing to a steady or expanding renter pool over time. According to CRE market data from WDSuite, ownership costs in the area remain relatively accessible compared with high‑cost metros, keeping rent‑to‑income levels workable and suggesting balanced pricing power when paired with prudent lease management. Key risks include below‑average safety versus the metro and income sensitivity in parts of the neighborhood, warranting conservative underwriting and focused operations.
- Renter‑heavy neighborhood and improving occupancy support leasing stability
- 1973 vintage offers value‑add and systems modernization upside versus older local stock
- Essentials‑oriented amenity access and proximity to major employers aid retention
- 3‑mile demographics point to more households and an expanding renter pool, supporting demand
- Risk: below‑metro safety and income sensitivity require disciplined underwriting and active management