| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 24th | Poor |
| Demographics | 23rd | Poor |
| Amenities | 41st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2081 Canton Ave, Toledo, OH, 43620, US |
| Region / Metro | Toledo |
| Year of Construction | 1988 |
| Units | 34 |
| Transaction Date | 2016-04-01 |
| Transaction Price | $3,162,500 |
| Buyer | BEACON PLACE USA LLC |
| Seller | VANCLEEF GARY |
2081 Canton Ave Toledo Multifamily Investment
Renter concentration in the surrounding neighborhood is high, supporting a deeper tenant base even as neighborhood occupancy trails broader norms, according to WDSuite’s CRE market data. The asset’s 1988 vintage is newer than much of the local housing stock, offering relative competitiveness with scope for targeted modernization.
This Inner Suburb location in Toledo balances everyday convenience with workforce housing dynamics. Grocery and pharmacy access scores competitive among Toledo neighborhoods (ranked 82 of 244 overall for amenities), and both categories sit in high national percentiles, which supports day-to-day livability for residents and reduces errand-time friction for renters.
The building’s 1988 construction is newer than the neighborhood’s older average housing vintage (1926). For investors, this typically means improved baseline systems and layouts versus pre-war stock, while still planning for aging mechanicals and selective renovations to meet current renter expectations.
Tenure patterns point to multifamily demand: the neighborhood shows a high share of renter-occupied housing units (71.3%), indicating depth in the local renter pool and a broader audience for lease-up and renewals. However, the neighborhood occupancy rate (79.5%) signals softer leasing conditions relative to national performance; underwriting should assume competitive positioning and active asset management.
Within a 3-mile radius, current data show modest population contraction in recent years but forecasts indicate population growth and a sizable increase in households by 2028. A rising household count, alongside slightly smaller average household sizes, expands the potential renter pool and can support occupancy stability for well-managed multifamily assets.
Home values in the immediate area are comparatively low in a national context. That can create some competition from ownership alternatives, but it also sustains demand for more accessible rental options and supports lease retention where properties deliver quality, convenience, and professional management. Rent-to-income metrics suggest monitoring affordability pressure and employing disciplined lease management.
Safety indicators are a consideration here. The neighborhood ranks 224 out of 244 Toledo neighborhoods for overall crime, placing it below metro averages and in lower national percentiles for safety. Even so, year-over-year trends show improvement, with violent offense rates decreasing and property offenses also easing, according to CRE market data from WDSuite.
In practical terms, investors should account for security-focused operations and resident communication. Comparative improvement trends can help support leasing when paired with visible property-level measures and strong management practices.
Proximity to established corporate offices supports a commuter renter base and can aid retention for workforce-oriented units. Nearby employers include Owens Corning, Dana, Dana Holding Corporation, and Owens-Illinois.
- Owens Corning — corporate offices (1.16 miles) — HQ
- Dana Holding Corporation — corporate offices (2.98 miles)
- Dana — corporate offices (10.37 miles)
- Owens-Illinois — corporate offices (10.88 miles) — HQ
The investment case centers on durable renter demand from a high share of renter-occupied units in the neighborhood, relative convenience to daily services, and proximity to anchor employers. The property’s 1988 vintage is newer than much of the surrounding housing stock, offering a competitive baseline with scope for targeted value-add and modernization. While neighborhood occupancy is softer, the 3-mile demographic outlook points to growth in households, which can expand the renter pool. According to CRE market data from WDSuite, these factors collectively support a defensible positioning for a professionally managed workforce asset.
Key considerations include underwriting for elevated operating attention due to lower neighborhood safety percentiles and weaker school ratings, as well as thoughtful pricing given comparatively low area home values and rent-to-income pressure. Execution should focus on security-forward operations, unit refreshes that resonate with local renters, and asset management that prioritizes retention.
- Newer 1988 asset versus older neighborhood stock, with targeted renovation upside
- High renter-occupied share supports a deeper tenant base and leasing resilience
- Proximity to major corporate offices and daily services underpins demand
- Household growth within 3 miles expands the future renter pool
- Risks: softer neighborhood occupancy and lower safety percentiles require active management