| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Good |
| Demographics | 51st | Good |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1841 S Ottawa Cove Dr, Toledo, OH, 43611, US |
| Region / Metro | Toledo |
| Year of Construction | 1979 |
| Units | 100 |
| Transaction Date | 2006-03-23 |
| Transaction Price | $2,691,500 |
| Buyer | OTTAWA COVE APARTMENTS II LP |
| Seller | OTTAWA COVE APARTMENTS |
1841 S Ottawa Cove Dr Toledo Multifamily with Stable Occupancy
Neighborhood occupancy is in the national top quartile, indicating steady renter demand and predictable leasing performance, based on WDSuite’s CRE market data.
Positioned in an Inner Suburb of Toledo with a B+ neighborhood rating (ranked 86 among 244 metro neighborhoods), this location benefits from above‑median stability and top‑quartile national occupancy. For a 100‑unit asset, that backdrop supports dependable collections and limits downtime relative to weaker submarkets.
The area skews toward everyday convenience: grocery and pharmacy access sit in high national percentiles, while restaurants, cafes, and parks are limited. This configuration tends to favor retention for workforce renters even if entertainment options are thinner than city core locations. School ratings trend below national norms and may temper some family‑oriented demand.
Renter concentration at the neighborhood level is moderate, and within a 3‑mile radius renters account for roughly one‑third of housing units—enough depth for leasing without overreliance on highly transient demand. Rent levels remain accessible versus incomes (high national percentile for rent‑to‑income), supporting retention and measured pricing power.
The property’s 1979 vintage is slightly newer than the neighborhood average. That can be competitive versus older stock, though planning for systems refresh and selective renovations remains prudent to capture value‑add upside and sustain curb appeal.
Within a 3‑mile radius, recent population and household counts have been broadly stable, and forecasts point to rising household counts alongside smaller average household sizes. This dynamic typically expands the renter pool and supports occupancy for well‑managed communities.
Safety benchmarks are mixed relative to national norms. Overall crime sits near the national midpoint, with property crime somewhat higher than average; however, violent‑offense rates have improved meaningfully year over year, indicating a constructive trend.
Against the Toledo metro’s 244 neighborhoods, the area is not among the top safety performers, but the pace of improvement in violent‑offense indicators (top‑quintile improvement nationally) is supportive for long‑term operations. Investors typically underwrite lighting, security, and community standards consistent with submarket practice.
Nearby employment combines manufacturing‑linked and corporate office roles that support workforce housing and commute convenience. Key employers include Dana, Owens Corning, Dana Holding, and Owens‑Illinois.
- Dana Holding Corporation — corporate offices (2.0 miles)
- Owens Corning — corporate offices (5.1 miles) — HQ
- Dana — corporate offices (14.3 miles)
- Dana Holding — corporate offices (14.3 miles) — HQ
- Owens-Illinois — corporate offices (15.0 miles) — HQ
A 100‑unit, 1979 community in a B+ Inner Suburb benefits from top‑quartile national occupancy and everyday retail access, supporting income consistency and tenant retention. Moderate renter concentration and accessible rents versus incomes suggest manageable affordability pressure and measured pricing runway.
Looking ahead, 3‑mile forecasts indicate increasing household counts and smaller household sizes—conditions that typically expand the renter pool and support occupancy. According to CRE market data from WDSuite, ownership costs in the area are relatively accessible versus national benchmarks, which can introduce some competition from entry‑level buyers but also sustain demand for flexible multifamily housing.
- Top‑quartile neighborhood occupancy underpins stable collections and lower downtime
- Strong grocery/pharmacy access aids day‑to‑day livability and retention
- 1979 vintage offers value‑add via targeted system updates and renovations
- 3‑mile outlook shows household growth and a larger renter pool supporting occupancy
- Risk: below‑median school ratings and mixed safety metrics may require active management