| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 32nd | Fair |
| Demographics | 32nd | Poor |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1850 S Byrne Rd, Toledo, OH, 43614, US |
| Region / Metro | Toledo |
| Year of Construction | 1974 |
| Units | 60 |
| Transaction Date | 2009-10-05 |
| Transaction Price | $1,350,000 |
| Buyer | CROSSGATES APARTMENTS LLC |
| Seller | DUNBAR LLC |
1850 S Byrne Rd, Toledo OH Multifamily Opportunity
Neighborhood fundamentals point to steady renter demand, with occupancy competitive among Toledo submarkets according to WDSuite's CRE market data. Positioned for durable cash flow with room for operational upgrades in a B- suburban setting.
Neighborhood dynamics and renter demand
This B- rated suburban neighborhood ranks 129 out of 244 Toledo neighborhoods, placing it above the metro median for overall performance. Occupancy in the neighborhood is competitive among Toledo neighborhoods (rank 69 of 244) and sits in the top quartile nationally, a constructive backdrop for maintaining leased units and minimizing downtime, based on CRE market data from WDSuite.
Rent levels are mid-market locally (neighborhood median rents track above the 50th percentile nationally), while rent-to-income sits around one-fifth, suggesting manageable affordability pressure that can support retention and disciplined pricing. Median home values are lower than national norms, which can introduce some competition from ownership; however, this also helps sustain demand for more accessible rental options and supports leasing velocity for well-maintained product.
The property's 1974 vintage is slightly newer than the neighborhood's average construction year (1967). That positioning can be competitive versus older stock while still warranting targeted capital planning for systems modernization or value-add common-area and interior improvements to capture rent premiums.
Livability, amenities, and schools
Amenity access trends mixed: pharmacy density is strong (rank 30 of 244; top quintile nationally), and childcare access ranks 28 of 244 (above most peer areas), but restaurant, grocery, and park densities are limited in the immediate neighborhood. For investors, this mix suggests a convenience-oriented setting that may appeal to households prioritizing essential services, while on-site amenities can help offset lighter retail immediacy.
Average school ratings are below national norms (15th percentile), which can temper family-driven demand. That said, stable occupancy and a broad renter base can still underpin performance for workforce-oriented unit mixes.
Demographics within a 3-mile radius
Within 3 miles, households have increased recently even as average household size has edged lower, indicating smaller households and a potential broadening of the renter pool. Looking ahead to 2028, WDSuite projects population growth and a notable increase in households, which points to a larger tenant base and supports occupancy stability for well-positioned multifamily assets.
Safety context
Relative to the Toledo metro, the neighborhood's crime rank is 84 out of 244, indicating above-metro-average safety compared with many local peers. Nationally, the area sits around the 60th percentile for safety, suggesting a position modestly better than the national middle, according to WDSuite.
Recent trend data indicates a notable year-over-year decline in violent offenses (top decile improvement nationally), which, if sustained, can support renter sentiment and leasing stability. As always, investors should assess property-level security practices and sub-area patterns as part of standard diligence.
Employment anchors and commute drivers
Nearby corporate offices create a diversified white-collar employment base that supports renter demand and retention, notably from Dana, Dana Holding, Owens-Illinois, and Owens Corning.
- Dana — corporate offices (4.3 miles)
- Dana Holding — corporate offices (4.3 miles) — HQ
- Owens-Illinois — corporate offices (5.4 miles) — HQ
- Owens Corning — corporate offices (5.5 miles) — HQ
Investment thesis
1850 S Byrne Rd offers scale at 60 units with neighborhood occupancy competitive across the Toledo metro and top-quartile nationally, indicating a supportive backdrop for stabilized cash flow. Built in 1974, the asset is slightly newer than the area's average vintage, providing a useful baseline relative to older comparables, while leaving room for targeted renovations to enhance positioning and capture premiums. According to CRE market data from WDSuite, local rent levels are mid-market with rent-to-income near one-fifth, which supports retention while allowing disciplined rent management.
Within a 3-mile radius, smaller household sizes and projected growth in both population and households through 2028 point to a larger tenant base over time. Proximity to established employers further supports leasing stability for workforce-oriented unit mixes, though lighter immediate retail amenities and below-average school ratings warrant thoughtful on-site amenity programming and marketing.
- Competitive neighborhood occupancy and top-quartile national positioning support leasing stability.
- 1974 vintage is slightly newer than local average, with clear value-add and systems modernization pathways.
- Mid-market rents and rent-to-income near one-fifth aid retention and measured pricing power.
- 3-mile outlook points to population and household growth, expanding the renter pool.
- Risks: lighter immediate retail and below-average school ratings may require stronger on-site amenities and targeted leasing strategy.