| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 48th | Fair |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2015 N McCord Rd, Toledo, OH, 43615, US |
| Region / Metro | Toledo |
| Year of Construction | 1981 |
| Units | 79 |
| Transaction Date | 1998-10-01 |
| Transaction Price | $1,550,000 |
| Buyer | TG LAND LLC |
| Seller | GREENGLEN APARTMENTS OF TOLEDO LTD |
2015 N McCord Rd, Toledo OH Multifamily Investment
Inner-suburb fundamentals point to steady renter demand and occupancy resilience, according to WDSuite’s CRE market data, with neighborhood-level metrics supportive of stable operations.
Located in Toledo’s Inner Suburb, the property benefits from a neighborhood rated A- and ranked 47 of 244 in the metro—top quartile among Toledo neighborhoods—signaling balanced livability and investment appeal for multifamily.
Access to daily needs is a relative strength: grocery density ranks 50 of 244 (top quartile in the metro), while restaurants are competitive among Toledo neighborhoods. Non-essentials are thinner—cafes and parks/pharmacies register at the low end—so the value proposition leans more toward convenience retail than lifestyle amenities.
Neighborhood occupancy stands at 94.8% (neighborhood-level estimate), placing it competitive among Toledo sub-areas and supportive of revenue stability. Renter concentration is 57.7% of housing units being renter-occupied, indicating a deep tenant base for multifamily operators.
The building’s 1981 vintage is slightly older than the neighborhood average (1984), which points to routine capital planning and potential value-add through targeted renovations. With an average unit size near 552 sq. ft., smaller household sizes in the broader area can support demand for efficient floor plans.
Within a 3-mile radius, demographics show recent population and household growth with a projected increase through 2028, expanding the local renter pool. Median incomes have risen, and rent levels remain relatively accessible for the metro, which can aid retention while still allowing disciplined rent management.
Home values sit in the middle of regional ranges, and the rent-to-income profile indicates manageable affordability pressure. In practice, that tends to support lease stability and reduce turnover risk relative to high-cost ownership submarkets.
Safety conditions are mixed when viewed against the metro and national context. The neighborhood’s crime rank is 207 out of 244 within Toledo, indicating higher crime than many local peers. Nationally, its overall crime positioning aligns with a lower percentile, and violent offense measures sit in a weaker national band.
Trend-wise, property offense estimates have declined by about 30% year over year and are better than the metro median for improvement, suggesting recent momentum in the right direction. Investors should underwrite with standard precautions—controlled access, lighting, and proactive management—while recognizing the recent improvement trajectory.
Proximity to major employers underpins a diversified renter base and commute convenience, particularly to Dana, Owens Corning, Owens-Illinois, Marathon Petroleum, and Thermo Fisher Scientific.
- Dana Holding — automotive components (6.3 miles) — HQ
- Owens Corning — building materials (8.8 miles) — HQ
- Owens-Illinois — glass packaging (9.5 miles) — HQ
- Marathon Petroleum — energy (43.1 miles) — HQ
- Thermo Fisher Scientific — life sciences (43.2 miles)
This 79-unit property in Toledo’s Inner Suburb aligns with steady neighborhood fundamentals: competitive occupancy at the neighborhood level, a renter-occupied housing share that supports a deep tenant base, and grocery/restaurant access that fits workforce housing patterns. Based on CRE market data from WDSuite, local rents and rent-to-income positioning suggest manageable affordability pressure, which can aid retention while still allowing disciplined pricing.
Constructed in 1981, the asset is slightly older than nearby stock, creating potential for targeted renovations and system upgrades to drive NOI. Within a 3-mile radius, recent population and household growth—along with rising incomes and projected renter pool expansion—supports demand durability over the medium term. Operators should balance these strengths with prudent assumptions around safety programming and amenity positioning.
- Neighborhood occupancy is competitive in the metro, supporting revenue stability
- Renter-occupied share indicates depth of tenant demand for multifamily
- 1981 vintage offers value-add potential via targeted renovations and modernization
- 3-mile radius shows growth in households and incomes, reinforcing leasing and retention
- Risk: below-metro safety positioning and limited lifestyle amenities require active management