| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Best |
| Demographics | 36th | Poor |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2200 Pelham Rd, Toledo, OH, 43606, US |
| Region / Metro | Toledo |
| Year of Construction | 1986 |
| Units | 76 |
| Transaction Date | 2008-01-28 |
| Transaction Price | $3,535,000 |
| Buyer | PALMER GARDENS II LP |
| Seller | PALMER GARDENS ASSOCIATES LTD |
2200 Pelham Rd Toledo 76-Unit Multifamily Investment
The surrounding neighborhood shows a high share of renter-occupied housing and improving occupancy over the past five years, supporting depth of tenant demand, based on CRE market data from WDSuite. Amenity access is anchored by parks, pharmacies, groceries, and restaurants at levels that compare well within the metro, while cafes and childcare options are limited in this pocket.
Located in an Inner Suburb of Toledo, the area holds a B+ neighborhood rating and ranks 71 out of 244 neighborhoods locally, placing it above the metro median. Amenity access is a relative strength: parks and pharmacies are top quartile nationally, restaurants are also top quartile, and grocery access is strong for the region, though cafes and childcare density are sparse. Average school ratings near 3.0 out of 5 sit slightly above the national median.
The asset’s 1986 construction is newer than much of the area’s housing stock (average vintage 1953). For investors, that typically supports competitive positioning versus older comparables, while still warranting targeted capital planning for aging systems or strategic renovations to capture potential rent premiums.
Tenure patterns indicate a high renter-occupied share in the neighborhood, signaling a broad tenant base and potential leasing stability for multifamily. Neighborhood occupancy has trended up in recent years, which can reduce downtime risk, though results vary by asset quality and pricing.
Demographics aggregated within a 3-mile radius show a modest population decline in recent years but projections point to population growth and more households by 2028, implying a larger tenant base over the medium term. Median contract rents remain comparatively accessible for the metro, but rent-to-income levels suggest careful lease management to mitigate affordability pressure and support retention.
Safety conditions trend weaker than the metro median, positioning this area toward the higher-crime end among the 244 Toledo neighborhoods. Compared with neighborhoods nationwide, safety measures sit in lower percentiles; however, recent trends show property crime declining notably and violent crime easing modestly over the past year. Investors typically underwrite with enhanced security measures and operational controls in submarkets with this profile.
Nearby corporate anchors contribute to a steady employment base and commuting convenience for renters, including Owens Corning, Dana Holding Corporation, Dana Holding, and Owens-Illinois. Their proximity can support leasing velocity and retention for workforce-oriented units.
- Owens Corning — corporate offices (4.2 miles) — HQ
- Dana Holding Corporation — corporate offices (4.6 miles)
- Dana Holding — corporate offices (8.1 miles) — HQ
- Owens-Illinois — corporate offices (9.8 miles) — HQ
This 76-unit, 1986-vintage asset sits in a renter-oriented Toledo neighborhood with improving occupancy and strong day-to-day amenities (parks, pharmacies, groceries, and restaurants) that support leasing stability. Based on CRE market data from WDSuite, the neighborhood’s renter concentration and upward occupancy trend point to durable demand, while the property’s newer vintage versus local stock can provide a competitive edge with targeted upgrades.
Within a 3-mile radius, recent population softness is offset by projections for population growth and a larger household base by 2028, indicating renter pool expansion that can support occupancy over the medium term. Rents remain comparatively accessible in the metro context, but rent-to-income dynamics warrant attentive lease and renewal management to preserve retention.
- Newer-than-area vintage (1986) offers competitive positioning and value-add potential
- High neighborhood renter concentration supports depth of tenant demand
- Amenity coverage (parks, pharmacies, groceries, restaurants) underpins leasing stability
- Medium-term outlook: projected population and household growth within 3 miles supports occupancy
- Risks: weaker relative safety metrics and affordability pressure require prudent operations and security planning