| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Good |
| Demographics | 51st | Good |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2133 Stirrup Ln, Toledo, OH, 43613, US |
| Region / Metro | Toledo |
| Year of Construction | 1973 |
| Units | 60 |
| Transaction Date | 2010-02-26 |
| Transaction Price | $1,150,000 |
| Buyer | HARB ESTATE MANAGEMENT LLC |
| Seller | SKUTCH STEVEN N |
2133 Stirrup Ln, Toledo — Workforce Multifamily Opportunity
Renter demand is supported by strong daily-needs access and a competitive renter base in the neighborhood, according to WDSuite’s CRE market data. Pricing remains relatively accessible locally, which can aid tenant retention and steady occupancy.
Neighborhood performance and renter demand drivers
Located in an inner-suburban pocket of Toledo, the neighborhood carries a B+ rating and performs competitively on day-to-day convenience. Grocery access ranks near the top among 244 Toledo metro neighborhoods, and restaurant density is strong, while cafes, parks, and pharmacies are limited. For investors, this translates to solid daily-needs coverage that supports leasing, with fewer lifestyle amenities that may modestly temper premium positioning.
Neighborhood occupancy sits around the metro middle and near the national mid-range, signaling steady tenant absorption rather than outsized turnover. The share of renter-occupied housing units ranks in the top quartile among 244 Toledo neighborhoods, indicating a durable renter concentration and depth of tenant base for a 60‑unit asset.
Within a 3‑mile radius, population is edging higher and households are projected to increase while average household size trends lower. This combination points to a larger tenant base over time and potential demand for well-managed, efficiently sized units—factors that can support occupancy stability and measured rent growth for multifamily operators.
Home values are relatively accessible versus national norms, which can introduce some competition from ownership options. Even so, rent levels and rent‑to‑income dynamics suggest manageable affordability pressure for renters, supporting lease retention and reducing turnover risk when paired with disciplined renewal strategies.
Safety context and operating considerations
Relative to the metro and nation, safety indicators are mixed. Compared with many Toledo neighborhoods, crime levels trend on the higher side (below the metro median among 244 neighborhoods), and national comparisons place the area below average. That said, recent data show a meaningful year‑over‑year decline in violent offenses, a constructive trend for long‑term operations and resident retention.
Investors should underwrite prudent security measures and active property management. The improving trajectory suggests risk can be managed with appropriate on‑site practices while monitoring neighborhood trends over subsequent leasing cycles.
A mix of manufacturing and corporate office employers underpins local renter demand and commute convenience. Notable nearby employment nodes include Dana Holding Corporation, Owens Corning, Dana, and Owens‑Illinois.
- Dana Holding Corporation — automotive components (3.3 miles)
- Owens Corning — building materials (6.2 miles) — HQ
- Dana — automotive components (11.8 miles)
- Owens-Illinois — glass packaging (13.7 miles) — HQ
Investment view
The asset’s location benefits from a renter concentration that ranks in the top quartile among 244 Toledo neighborhoods and neighborhood occupancy near the market middle—conditions that support stable leasing and cash flow resilience. According to CRE market data from WDSuite, local rent levels and rent‑to‑income dynamics remain manageable, reinforcing retention while allowing for disciplined rent optimization.
Daily‑needs access is strong (notably groceries and restaurants), and 3‑mile demographics point to modest population growth, a projected increase in households, and smaller average household sizes—signals consistent with a gradually expanding renter pool. The submarket’s relatively accessible ownership costs may add competition, making asset-level execution, amenities, and renewal strategies important to sustain pricing power.
- Competitive renter base and steady neighborhood occupancy support income stability
- Manageable rent‑to‑income levels aid retention and measured pricing power
- 3‑mile trends (more households, smaller sizes) expand the tenant pool over time
- Risk: Safety sits below metro and national averages; prudent on‑site management recommended
- Risk: Accessible ownership options can compete with rentals—focus on unit finishes and renewals