| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 48th | Fair |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2140 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 |
2140 Country Trce Toledo Multifamily Investment
Neighborhood occupancy trends are above the metro median, supporting stable leasing dynamics, according to WDSuite’s CRE market data. The inner-suburb location offers durable renter demand with room for value-focused execution.
Situated in Toledo’s inner suburbs, the neighborhood holds an A- rating and ranks within the top quartile among 244 metro neighborhoods, indicating stronger-than-typical fundamentals for the area. Neighborhood occupancy is above the metro median and competitive nationally, a positive signal for sustaining collections and limiting downtime between turns.
Renter-occupied share in the neighborhood sits in the top quartile nationally, pointing to a deep tenant base for a 22-unit asset. Median contract rents in the area are middle-of-the-pack nationally, which helps preserve retention while still allowing for measured rent positioning. With a rent-to-income profile near national mid-range, lease management can focus on resident experience and renewal capture rather than pushing aggressive premiums.
Local amenity access is mixed: grocery options are competitive among Toledo neighborhoods and above average nationally, restaurant density is competitive within the metro, and childcare access is top quartile locally. At the same time, cafes, parks, and pharmacies are limited in the immediate neighborhood by metro standards. For investors, this suggests on-site conveniences and curated services may be effective differentiators.
The property’s 1988 vintage is slightly newer than the neighborhood average year of construction, supporting relative competitiveness versus older stock. Investors should still plan for targeted system updates and common-area refreshes to maintain positioning against newer deliveries.
Demographic statistics aggregated within a 3-mile radius show modest population growth recently and a projected increase in both households and incomes through 2028, expanding the renter pool and supporting occupancy stability. While ownership costs in this part of Lucas County are more accessible than in high-cost coastal markets, that can introduce competition from entry-level homeownership; thoughtful amenity and service offerings can help sustain retention.
Neighborhood safety indicators lag the national median, and the area ranks in the lower half among 244 Toledo neighborhoods. However, recent trends show a meaningful one-year decline in estimated property offenses, which is a constructive directional signal. Investors should underwrite to conservative security and lighting plans and monitor trends at the neighborhood level rather than drawing block-level conclusions.
The employment base within commuting distance blends manufacturing, building materials, packaging, life sciences, and energy, supporting a varied renter pool and stable demand for workforce and middle-income housing.
- Dana — auto parts manufacturing (6.4 miles) — HQ
- Owens Corning — building materials (8.6 miles) — HQ
- Owens-Illinois — glass packaging (9.5 miles) — HQ
- Thermo Fisher Scientific — life sciences (43.1 miles)
- Marathon Petroleum — energy (43.1 miles) — HQ
Positioned in an inner-suburb corridor with above-median neighborhood occupancy and a top-quartile metro ranking, this 22-unit asset benefits from a deep local renter base and broadly attainable rent positioning. According to CRE market data from WDSuite, neighborhood rents sit near national mid-range while renter concentration is elevated, supporting steady absorption and renewal potential.
Built in 1988, the property is slightly newer than the local average, offering competitive standing versus older stock with room for targeted value-add through system upgrades and common-area modernization. Demographic trends within a 3-mile radius point to growth in households and incomes through 2028, expanding the tenant base and supporting occupancy stability, while investors should account for amenity gaps and measured safety risk in operations and underwriting.
- Above-median neighborhood occupancy and strong metro ranking support stable leasing
- Elevated renter concentration indicates depth of tenant demand
- 1988 vintage offers value-add potential via targeted system and common-area upgrades
- 3-mile household and income growth outlook supports retention and pricing discipline
- Risks: limited nearby cafes/parks/pharmacies and below-median safety metrics require proactive management