| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 24th | Poor |
| Demographics | 23rd | Poor |
| Amenities | 41st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2001 Canton Ave, Toledo, OH, 43620, US |
| Region / Metro | Toledo |
| Year of Construction | 1988 |
| Units | 52 |
| Transaction Date | 2016-04-01 |
| Transaction Price | $3,162,500 |
| Buyer | BEACON PLACE USA LLC |
| Seller | VANCLEEF GARY |
2001 Canton Ave Toledo Multifamily Investment
Renter concentration is high in the surrounding neighborhood, supporting a broad tenant base even as local occupancy trends run below many Toledo submarkets, according to WDSuite’s CRE market data.
Located in Toledo’s inner-suburb fabric, the property sits in a neighborhood with a high share of renter-occupied housing (neighborhood metric, not property-specific), signaling depth for multifamily demand and day-to-day leasing velocity. However, the neighborhood 1s occupancy rate ranks 216 of 244 within the Toledo metro, indicating below-median stabilization and the need for proactive leasing and retention strategies.
Retail conveniences are anchored by strong grocery and pharmacy access. The neighborhood ranks 14 of 244 in grocery store density and 13 of 244 in pharmacy density, placing both in the 90th+ national percentiles and offering everyday services that support resident retention. In contrast, cafes, restaurants, parks, and childcare options rank at or near the bottom of the metro, so on-site amenities and community programming may play a larger role in resident satisfaction.
The average neighborhood construction vintage is 1926. With a 1988 build, this asset is newer than much of the local stock, positioning it competitively versus older buildings. Investors should still plan for targeted system modernizations and common-area upgrades typical for late-1980s assets to sustain occupancy and rent trade-outs.
Within a 3-mile radius, demographic data show modest population contraction historically but a forecasted increase in both population and households through 2028, pointing to a larger tenant base and potential renter pool expansion over time. Median contract rents have risen historically and are projected to continue increasing, while the area 1s value-to-income dynamics and rent-to-income levels suggest investors should balance pricing power with affordability and lease management considerations. These dynamics are based on commercial real estate analysis from WDSuite and reflect neighborhood and 3-mile market conditions, not the subject property 1s performance.
Safety metrics for the neighborhood trail many parts of the Toledo metro. The neighborhood 1s crime rank is 224 out of 244, placing it below the metro median and below national safety percentiles. National comparisons indicate lower relative safety than many neighborhoods nationwide.
Recent trend data provide some context: estimated violent offense rates declined by 35.2% year over year, a meaningful improvement that moves the area closer to metro norms even though absolute levels remain elevated. Investors typically account for this by emphasizing lighting, access control, and resident engagement, and by underwriting slightly higher security and turnover assumptions relative to stronger-ranked Toledo neighborhoods.
Proximity to major employers helps support workforce housing demand and commute convenience, notably Owens Corning, Dana, and Owens-Illinois. These anchors can aid leasing durability and daytime population density for the surrounding area.
- Owens Corning corporate offices (1.1 miles) HQ
- Dana Holding Corporation corporate offices (3.0 miles)
- Dana Holding corporate offices (10.3 miles) HQ
- Owens-Illinois corporate offices (10.8 miles) HQ
Built in 1988 with 52 units, the property is newer than the neighborhood 1s prewar housing base, offering relative competitiveness versus older stock while leaving room for modernization to drive rent premiums. Neighborhood metrics show a high share of renter-occupied housing, supporting a deep tenant base, but local occupancy ranks below the metro median—suggesting investors should emphasize leasing execution and resident retention. According to CRE market data from WDSuite, strong grocery and pharmacy access and proximity to major employers underpin day-to-day livability, while 3-mile forecasts point to population and household growth that can support long-run demand.
Forward-looking 3-mile trends—rising household counts, income gains, and projected rent growth—support sustained renter demand, though investors should balance pricing with affordability to protect lease stability. Neighborhood safety ranks below many Toledo areas despite recent improvement, warranting prudent operating assumptions and capital plans that enhance security and community experience.
- 1988 vintage competes well versus older local stock; selective upgrades can unlock value
- High neighborhood renter concentration supports depth of tenant demand
- Everyday retail access (grocery, pharmacy) and nearby corporate anchors bolster retention
- 3-mile forecasts indicate population and household growth, supporting occupancy stability over time
- Risks: below-median neighborhood occupancy and safety rankings; manage via active leasing, security, and affordability-aware pricing