| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Good |
| Demographics | 38th | Poor |
| Amenities | 11th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2047 Garden Lake Dr, Toledo, OH, 43614, US |
| Region / Metro | Toledo |
| Year of Construction | 1998 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2047 Garden Lake Dr, Toledo OH Multifamily Investment
Neighborhood occupancy trends are competitive among Toledo submarkets, supporting steady leasing and tenant retention, according to WDSuite s CRE market data. This 20-unit asset offers mid-scale operations in an inner-suburb location where renter demand is reinforced by balanced renter concentration and modest rent levels.
Located in Toledo s inner-suburb fabric, the neighborhood carries a C+ rating and performs above the metro median on occupancy, with neighborhood occupancy measured at the neighborhood level rather than the property itself. Relative to the broader Toledo, OH metro (244 neighborhoods), this area is competitive on restaurant access while showing limited in-neighborhood grocery, park, and pharmacy options, implying residents rely on nearby corridors for daily needs.
The local housing stock skews older, with an average construction year around the mid-20th century across the neighborhood; the subject s 1998 vintage is newer than much of the surrounding supply. For investors, that positioning can enhance leasing competitiveness versus older comparables, while still planning for mid-life capital items and selective modernization to drive rent premiums.
Tenure dynamics indicate a substantial share of renter-occupied housing units in the neighborhood, which points to a meaningful tenant base and demand depth for multifamily. Median contract rents in the neighborhood sit on the modest side relative to income levels, which can support lease retention and reduce turnover volatility.
Within a 3-mile radius, demographics show recent population softness but a projected increase in households alongside smaller average household sizes. This trajectory typically expands the renter pool and supports occupancy stability over the medium term, based on CRE market data from WDSuite.
Neighborhood safety benchmarks sit below national medians on both property and violent offenses, but recent year-over-year declines indicate improving trends relative to nationwide patterns. Compared with other Toledo neighborhoods (244 total), the area is not among the top-ranked for safety, yet the downward trajectory in estimated offense rates provides a constructive signal for investors monitoring operational risk.
For underwriting, this suggests prudent security measures and resident engagement remain important, while the improving direction can help support retention and marketing over time. All figures reference neighborhood-level conditions rather than the subject property.
Proximity to established corporate employers underpins a diverse employment base and practical commute options for renters, supporting leasing stability. Nearby anchors include Owens Corning, Dana, and Owens-Illinois.
- Owens Corning building materials (3.6 miles) HQ
- Dana automotive components (6.3 miles)
- Dana Holding automotive components (6.3 miles) HQ
- Dana Holding Corporation automotive components (6.7 miles)
- Owens-Illinois glass & packaging (6.8 miles) HQ
This 20-unit property offers operational scale with average unit sizes conducive to workforce demand. Neighborhood-level occupancy performs competitively within the Toledo metro and renter-occupied share is meaningful, reinforcing depth of the tenant base. The 1998 construction is newer than much of the surrounding stock, suggesting relative leasing competitiveness with potential to capture value via targeted interior updates and mid-life system planning. According to CRE market data from WDSuite, local rents trend modest relative to incomes, supporting retention and steadier cash flows.
Forward-looking demographics within a 3-mile radius point to an increase in households and smaller household sizes, a combination that typically supports renter pool expansion and occupancy stability. Investors should balance these fundamentals against neighborhood safety benchmarks that trail national medians and limited in-neighborhood retail, which may influence resident preferences and operating practices.
- Competitive neighborhood occupancy and sizable renter base support stable leasing
- 1998 vintage offers relative competitiveness with value-add potential via targeted upgrades
- Modest rents versus income bolster retention and cash flow durability
- 3-mile household growth and smaller household sizes expand the renter pool
- Risks: below-national safety benchmarks and limited local amenities warrant active management