| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 24th | Poor |
| Demographics | 23rd | Poor |
| Amenities | 41st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2063 Vermont Ave, Toledo, OH, 43620, US |
| Region / Metro | Toledo |
| Year of Construction | 1979 |
| Units | 96 |
| Transaction Date | 2017-05-01 |
| Transaction Price | $2,668,800 |
| Buyer | WOODDRUFF LIHTC L P |
| Seller | WOODLRUFF VILLAGE LTD |
2063 Vermont Ave Toledo Multifamily Opportunity
Renter concentration nearby supports a durable tenant base, though leasing execution matters given softer neighborhood occupancy, according to WDSuite’s CRE market data. This asset’s location offers daily-needs convenience with groceries and pharmacies close by.
Located in Toledo’s inner-suburb fabric, the property sits in a neighborhood with strong daily-needs access: grocery and pharmacy density ranks in the top decile nationally, while cafes, restaurants, and parks are sparse. For investors, that mix often supports workforce housing demand but may limit lifestyle-driven rent premiums versus amenity-rich corridors.
The neighborhood’s renter-occupied share is high (among the top-tier in the metro), indicating depth in the tenant pool and potential leasing velocity. At the same time, neighborhood occupancy trends are below the metro median, suggesting that hands-on marketing, concessions management, and renewals strategy will be important to sustain occupancy stability.
Vintage matters: built in 1979, the property is materially newer than the area’s older housing stock (average vintage skews to the 1920s). That relative youth can be competitively helpful versus pre-war buildings, while still requiring planning for aging systems and selective modernization to meet current renter expectations.
Demographic statistics are aggregated within a 3-mile radius. Recent years show flat-to-down population trends, but WDSuite’s projections indicate growth in total population and a notable increase in households over the next five years. A larger household base can expand the renter pool and support leasing, though a rising owner share in forecasts implies some competition from entry-level ownership. Median rents remain accessible relative to incomes, which can aid retention but reduces near-term pricing power; thoughtful lease management is key.
Safety indicators are weaker than many Toledo neighborhoods (ranked closer to the bottom among 244 metro neighborhoods), placing the area below metro averages and in a lower national percentile for safety. Investors should factor this into leasing and operations plans, as it can influence marketing and tenant retention strategies.
That said, WDSuite’s data shows directional improvement: estimated violent offenses declined significantly year over year, and property offenses also eased. Monitoring trend continuity and coordinating with property-level lighting, access control, and community engagement can help manage risk.
Proximity to major employers supports workforce housing demand and commute convenience, with nearby anchors in building materials and diversified manufacturing featured below.
- Owens Corning — building materials HQ and corporate functions (1.2 miles) — HQ
- Dana Holding Corporation — auto components corporate offices (3.1 miles)
- Dana — automotive components offices (10.1 miles)
- Owens-Illinois — glass packaging corporate offices (10.7 miles) — HQ
This 96-unit asset offers scale in a renter-heavy pocket of Toledo with strong daily-needs access and a tenant base tied to nearby industrial and corporate employers. Based on CRE market data from WDSuite, neighborhood occupancy runs below metro levels, so value will hinge on disciplined leasing, renewals, and service delivery rather than outsized rent growth. The 1979 vintage is newer than much of the surrounding stock, providing a competitive edge versus pre-war buildings while still warranting targeted system updates and interior refreshes.
Within a 3-mile radius, projections point to population growth and a meaningful rise in household counts over the next five years, which can expand the renter pool and support occupancy stability. Ownership remains relatively accessible in this submarket, which can cap pricing power at the margins; however, approachable rents and commute access to anchor employers can sustain demand and retention.
- Renter-heavy neighborhood supports a deeper tenant base and leasing velocity.
- 1979 vintage is competitively newer than surrounding pre-war stock, with targeted modernization upside.
- Daily-needs access (groceries, pharmacies) aids resident convenience and retention.
- Near major employers (Owens Corning, Dana, Owens-Illinois) supporting workforce housing demand.
- Risks: below-metro neighborhood occupancy and safety indicators require proactive leasing and security-focused operations.