| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Good |
| Demographics | 51st | Good |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2132 Stirrup Ln, Toledo, OH, 43613, US |
| Region / Metro | Toledo |
| Year of Construction | 1990 |
| Units | 88 |
| Transaction Date | 2018-09-07 |
| Transaction Price | $4,800,000 |
| Buyer | HURON RIVER TOLEDO LLC |
| Seller | TM HOJ LLC |
2132 Stirrup Ln, Toledo — 88-Unit 1990 Multifamily
Neighborhood occupancy is slightly above national norms and the renter-occupied share near 45% points to a stable tenant base in this inner-suburban pocket, according to WDSuite’s CRE market data. These dynamics support steady leasing conditions for an 88-unit asset without relying on aggressive rent growth.
Situated in Toledo’s inner suburbs with a B+ neighborhood rating, the area ranks 74 out of 244 metro neighborhoods—competitive among Toledo neighborhoods—signaling balanced fundamentals for workforce-oriented multifamily. Neighborhood occupancy trends sit a bit above the national median, with only a modest five-year softening, suggesting generally resilient demand rather than outsized volatility.
The 1990 vintage positions the property newer than the neighborhood’s typical housing stock (average construction year skews 1970s). That age advantage can support leasing competitiveness versus older nearby inventory, while still warranting selective capital planning for systems and common-area modernization to sustain rentability.
Household and population metrics aggregated within a 3-mile radius indicate incremental population growth with a projected increase over the next five years and a small rise in total households, implying a gradually expanding renter pool. The local renter-occupied share around the mid-40% range suggests a sufficiently deep demand base to backfill turnover and support occupancy stability.
Local conveniences are a mixed but serviceable package: grocery access is strong (top quartile metro rank and high national standing), restaurants are plentiful, and childcare access ranks among the better segments of the metro. However, cafes, parks, and pharmacies are sparse within neighborhood boundaries. For investors, this mix points to everyday essentials that aid retention, even if lifestyle amenities are not a marquee draw.
On affordability, neighborhood-level rent-to-income readings are comparatively modest, which can support lease retention and measured pricing power. At the same time, more accessible ownership costs in this part of Lucas County can create some competition with entry-level homebuying, which places a premium on maintaining property quality and service levels to preserve occupancies.
Safety signals are mixed but improving. Relative to the Toledo metro, the neighborhood’s crime ranking sits in the upper tier (203 out of 244), indicating above-metro-average positioning. Nationally, though, safety metrics land below the median, so investor expectations should be calibrated to local rather than national comparables.
Trend-wise, WDSuite’s data shows a meaningful year-over-year decline in estimated violent offenses and a modest decline in property offenses, both constructive for long-term risk assessment. These are neighborhood-level indicators and can vary by block; prudent underwriting would pair this trajectory with standard on-site security, lighting, and access-control considerations.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience, notably from Dana and Owens-affiliated employers and a major glass manufacturer. These anchors can help underpin leasing stability for workforce housing.
- Dana Holding Corporation — corporate offices (3.3 miles)
- Owens Corning — corporate offices (6.2 miles) — HQ
- Dana — corporate offices (11.9 miles)
- Owens-Illinois — corporate offices (13.8 miles) — HQ
1990 construction across 88 units offers a competitive edge versus older neighborhood stock while remaining a manageable vintage for targeted value-add. Neighborhood-level occupancy sits slightly above national norms, and a renter-occupied share near the mid-40% range supports depth of demand and backfill capacity. According to CRE market data from WDSuite, amenity access is anchored by strong grocery and restaurant density, which aids day-to-day livability despite fewer cafes, parks, and pharmacies within neighborhood bounds.
Investor considerations include measured household and population growth within a 3-mile radius—suggesting a gradually expanding tenant base—balanced against nationally middling safety benchmarks and potential competition from relatively accessible ownership. Focused capital planning, operational execution, and selective upgrades can sustain occupancy and support durable cash flow without relying on outsized rent lifts.
- Newer-than-area vintage (1990) supports leasing competitiveness versus older stock
- Neighborhood occupancy slightly above national norms supports stability
- Deep renter base and everyday amenities (notably grocery/restaurant density) aid retention
- Gradual 3-mile population and household growth indicates a slowly expanding tenant pool
- Risks: below-median national safety positioning and some competition from accessible ownership options