| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 48th | Fair |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1800 N McCord Rd, Toledo, OH, 43615, US |
| Region / Metro | Toledo |
| Year of Construction | 1982 |
| Units | 60 |
| Transaction Date | 2008-02-29 |
| Transaction Price | $11,000,000 |
| Buyer | TALMADGE MANOR INC |
| Seller | GIANT OAKS LLC |
1800 N McCord Rd Toledo, OH Multifamily Investment
Stable neighborhood occupancy and a deep renter base support consistent leasing, according to WDSuite’s CRE market data. Positioning focuses on workforce demand with room for value-add given the 1982 vintage.
Situated in an Inner Suburb of Toledo with an A- neighborhood rating, this location ranks 47 out of 244 metro neighborhoods—top quartile among Toledo areas—indicating competitive fundamentals for multifamily. Neighborhood occupancy is measured at 94.8% (neighborhood metric, not the property), placing it in the upper tier nationally for stability, per WDSuite’s CRE market data.
Daily needs are well-covered by groceries (nationally strong presence) and a reasonable mix of restaurants, while cafes, parks, and pharmacies are comparatively limited. For investors, this translates to practical convenience for residents without a heavy reliance on discretionary amenity drivers; leasing is more likely tied to housing value, access, and commute patterns than lifestyle retail.
Renter-occupied housing concentration is elevated for the neighborhood at 57.7%, ranking 19 of 244 in the metro and in a high national percentile—supporting depth of tenant demand for multifamily. The local rent-to-income ratio around 15% suggests manageable rent burdens relative to incomes, a positive for lease retention and renewal strategies.
Within a 3-mile radius, demographics indicate recent growth in both population and households, with projections pointing to further increases by 2028. A larger household base and rising incomes imply a gradually expanding renter pool that can support occupancy and measured rent growth. The property’s 1982 construction is slightly older than the neighborhood’s average vintage (1984), which can create value-add potential through targeted renovations and system upgrades to improve competitive positioning.
Ownership costs appear moderate for the region, which can introduce some competition from entry-level ownership. For multifamily investors, this typically favors steady demand at value-driven price points and requires disciplined pricing and amenity programming to sustain absorption and retention.
Safety indicators are mixed in a way that warrants a balanced view. Within the Toledo metro, the neighborhood’s crime rank is 207 out of 244 (a higher rank here signals comparatively lower crime levels vs. other metro neighborhoods). Nationally, however, it sits around the 38th percentile, indicating more risk relative to many U.S. neighborhoods. This combination suggests local competitiveness within the metro but a middle-to-lower national position.
Recent trends are also nuanced: estimated property offenses declined notably year over year, while estimated violent offenses showed an uptick. For underwriting, this points to monitoring near-term trends and applying standard safety-related operational measures (lighting, access control, resident engagement) rather than assuming linear improvement.
The area draws from a diverse employment base anchored by major corporate offices in and around Toledo, supporting commuter convenience and resident retention. Key nearby employers include Dana, Owens Corning, Owens-Illinois, and Marathon Petroleum.
- Dana Holding — corporate offices (6.1 miles) — HQ
- Owens Corning — corporate offices (8.7 miles) — HQ
- Dana Holding Corporation — corporate offices (9.2 miles)
- Owens-Illinois — corporate offices (9.2 miles) — HQ
- Marathon Petroleum — corporate offices (42.8 miles) — HQ
This 60-unit, 1982-vintage asset benefits from a competitive Inner Suburb location where neighborhood occupancy is strong and renter-occupied housing concentration is high, supporting a durable tenant base. According to CRE market data from WDSuite, local rent burdens are relatively manageable, reinforcing renewal potential and day-to-day leasing stability. The slightly older vintage versus neighborhood norms suggests actionable value-add through unit modernization and selective system upgrades.
Within a 3-mile radius, population and household counts have been expanding and are projected to continue rising, which points to a larger renter pool over the medium term. Ownership costs are moderate for the region, so pricing and amenity positioning should emphasize value to remain competitive with entry-level ownership while capturing steady demand from workforce renters.
- Competitive neighborhood fundamentals and stable occupancy support consistent leasing performance
- Elevated renter-occupied share indicates depth of demand for multifamily units
- 1982 vintage offers value-add potential via renovations and targeted CapEx
- 3-mile demographic growth suggests a gradually expanding tenant base
- Risks: moderate national safety standing and competition from accessible ownership options require disciplined pricing and operations