| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 24th | Poor |
| Demographics | 23rd | Poor |
| Amenities | 41st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2293 Kent St, Toledo, OH, 43620, US |
| Region / Metro | Toledo |
| Year of Construction | 1973 |
| Units | 119 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2293 Kent St Toledo Multifamily Investment
Renter concentration in the immediate neighborhood is high, supporting a broad tenant base even as overall occupancy trends run below metro norms, according to WDSuite’s CRE market data. Proximity to downtown employers positions the asset for workforce demand and leasing resilience through cycles.
The property sits in an Inner Suburb of Toledo where neighborhood occupancy is below the metro median (ranked 216 out of 244 neighborhoods), suggesting leasing can be competitive and management-intensive. However, renter-occupied housing is concentrated (ranked 11 of 244), indicating a deep tenant pool that can support multifamily demand and retention with the right pricing and operations, based on commercial real estate analysis from WDSuite.
Daily-needs access is a relative strength: grocery and pharmacy density ranks near the top among Toledo neighborhoods (both in the top 15 of 244), while cafes, restaurants, and parks are sparse. For investors, this mix points to convenience for residents’ essentials but less support from lifestyle amenities, which may influence marketing, tenant mix, and achievable premiums.
The asset’s 1973 vintage is newer than the neighborhood’s older housing stock (average construction year 1926). This generally improves competitive positioning versus prewar properties, though systems and interiors may still benefit from targeted renovations and capex planning to meet contemporary renter expectations and reduce maintenance exposure.
Within a 3-mile radius, households have inched up recently despite modest population softness, and projections show a meaningful increase in households over the next five years. This implies a larger tenant base ahead and potential support for occupancy stability. Median home values in the immediate neighborhood are low by national standards, which can create some competition with entry-level ownership; careful lease management and product differentiation will be important. School quality measures track below national peers, which may shape demand more toward workforce and value-oriented segments.
Relative to the metro, the neighborhood ranks toward the higher-crime end of the spectrum (crime rank 224 out of 244 Toledo neighborhoods). Nationally, safety metrics sit in lower percentiles, indicating below-average safety compared to neighborhoods nationwide. Recent trend data shows year-over-year improvement in violent offense rates, which is a constructive signal but not a full reversal; investors should underwrite security measures and turnover assumptions accordingly.
Nearby corporate offices anchor employment and support renter demand via short commutes, led by Owens Corning and Dana’s operations, with additional scale from Owens-Illinois. These employers underpin steady workforce housing needs in the area.
- Owens Corning — corporate offices (1.35 miles) — HQ
- Dana Holding Corporation — corporate offices (2.8 miles)
- Dana — corporate offices (10.3 miles)
- Dana Holding — corporate offices (10.3 miles) — HQ
- Owens-Illinois — corporate offices (10.9 miles) — HQ
This 119-unit, 1973-vintage community offers exposure to a renter-heavy Toledo neighborhood where proximity to major employers supports durable workforce demand. While neighborhood occupancy trends rank below metro median levels, a strong concentration of renter-occupied units indicates depth in the tenant pool. According to CRE market data from WDSuite, daily-needs retail (grocery, pharmacy) is a local strength, while limited lifestyle amenities and below-average school ratings suggest an emphasis on value-oriented positioning.
For long-term investors, the asset’s relative youth versus older neighborhood stock provides a platform for targeted value-add and systems upgrades to enhance competitiveness. Underwriting should incorporate conservative lease-up and security planning given local safety rankings, with emphasis on operations, tenant retention, and cost control to offset a market that requires active management.
- Renter-heavy submarket supports a broad tenant base and potential retention.
- 1973 vintage offers value-add and modernization opportunities versus older local stock.
- Strong access to daily-needs retail; workforce demand reinforced by nearby corporate offices.
- Risks: below-metro occupancy ranking and lower safety metrics warrant conservative underwriting and active management.