| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 48th | Fair |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2050 Country Trce, Toledo, OH, 43615, US |
| Region / Metro | Toledo |
| Year of Construction | 1988 |
| Units | 22 |
| Transaction Date | 2006-02-01 |
| Transaction Price | $7,000,000 |
| Buyer | CTA INVESTORS LLC |
| Seller | COUNTRY TRACE APARTMENTS INC |
2050 Country Trce Toledo Multifamily Investment Opportunity
Neighborhood metrics point to steady renter demand and competitive among Toledo neighborhoods occupancy, according to WDSuite’s CRE market data, supporting income stability for a 22‑unit asset in an inner‑suburb setting.
Located in Toledo’s inner suburb fabric, the area registers competitive among Toledo neighborhoods amenity access (rank 70 of 244 metro neighborhoods) with everyday services supported by grocery options, while parks, cafes, and pharmacies are thinner locally. For multifamily, the neighborhood’s occupancy rate is solid and competitive within the metro, which helps underpin cash‑flow consistency versus more volatile submarkets.
The property’s 1988 vintage is slightly newer than the neighborhood’s average 1984 construction year. That positioning can be advantageous versus older stock, though investors should still plan for modernization of building systems typical of late‑1980s assets to maintain leasing competitiveness.
Renter concentration is elevated at the neighborhood level (57.7% of housing units renter‑occupied), indicating a deep tenant base that supports absorption and renewal prospects. Median contract rents in the area sit in a middle band for the metro, with a rent‑to‑income profile that suggests manageable affordability pressure, which can aid lease retention.
Within a 3‑mile radius, demographics show population and household growth alongside rising incomes, pointing to a larger tenant base over time. Forecasts indicate continued increases in households and incomes, which supports occupancy stability and measured pricing power for well‑maintained units. These trends align with Toledo’s broader inner‑suburban patterns, based on CRE market data from WDSuite.
Safety indicators are mixed. Relative to the Toledo metro, the neighborhood’s crime rank (207 out of 244 neighborhoods) suggests performance above the metro average, while national percentiles place the area below the midpoint nationally. Recent data shows a notable year‑over‑year decline in estimated property offenses, an improvement trend investors may monitor for durability.
Given the variance between metro ranking and national percentiles, prudent underwriting should assume typical inner‑suburban risk management: emphasize lighting, access control, and resident screening, and track local trend lines rather than block‑level assumptions.
Nearby anchor employers span automotive and industrial manufacturing, building materials, glass packaging, energy, and life sciences — a diversified base that supports workforce housing demand and commute convenience for renters.
- Dana Holding — automotive & industrial manufacturing (6.3 miles) — HQ
- Owens Corning — building materials (8.6 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 22‑unit, late‑1980s asset benefits from a renter‑oriented neighborhood with competitive metro occupancy and a deep tenant base. The 1988 vintage is slightly newer than the neighborhood average, offering relative positioning versus older stock while still warranting targeted capital planning for aging systems and modernization to protect rent roll durability.
Within a 3‑mile radius, population and household growth — alongside rising household incomes and forecast rent gains — point to ongoing renter pool expansion that can support occupancy stability and disciplined rent management. According to CRE market data from WDSuite, neighborhood dynamics such as elevated renter concentration and mid‑range contract rents reinforce demand depth without extreme affordability pressure.
- Competitive metro occupancy and elevated renter concentration support income stability
- 1988 vintage offers relative competitiveness with clear modernization/value‑add pathways
- 3‑mile growth in households and incomes expands the tenant base and retention potential
- Diversified nearby employers underpin workforce housing demand and leasing continuity
- Risks: thinner amenity set and nationally middling safety metrics require active management