| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Good |
| Demographics | 51st | Good |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2325 Shoreland Ave, Toledo, OH, 43611, US |
| Region / Metro | Toledo |
| Year of Construction | 1974 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2325 Shoreland Ave, Toledo OH Multifamily Investment
Neighborhood occupancy has been resilient and sits in the top quartile nationally, according to WDSuite’s CRE market data, supporting stable cash flow potential for a 24‑unit asset in an Inner Suburb location.
The property sits in a B+ rated Inner Suburb neighborhood of Toledo with occupancy measured for the neighborhood at 96.9% and ranked 51 out of 244 metro neighborhoods — a position that places it in the top quartile nationally for stabilization. For investors, that points to consistent leasing and lower downtime risk relative to many U.S. submarkets.
Local amenity access skews practical rather than lifestyle-oriented: grocery and pharmacy density ranks 31 and 28 out of 244, respectively, indicating convenient daily needs coverage, while cafes, restaurants, and parks sit at the bottom of the metro distribution. This mix supports day-to-day livability for renters but suggests limited walk-to entertainment, with leasing more likely driven by value, convenience, and commute patterns than lifestyle clustering.
Neighborhood renter concentration is 25.9% of housing units, signaling a smaller but dependable renter base for multifamily relative to more renter-heavy areas. Median household income sits above national mid-range levels, and the neighborhood rent-to-income ratio of 0.11 indicates manageable affordability pressure, which can aid retention and reduce turnover sensitivity during renewals.
Demographic indicators aggregated within a 3‑mile radius show recent softness in population and household counts, but forecasts call for renewed population growth alongside a notable increase in households and smaller average household sizes by 2028. For investors, that combination implies a larger tenant base over time and supports occupancy stability even if per-household space needs change. Median contract rents in the neighborhood have risen over the past five years and are projected to continue advancing, a trend that supports income growth potential when paired with disciplined lease management.
Ownership costs locally are relatively accessible compared with high‑cost metros, which can introduce competition from entry‑level ownership. Even so, elevated five‑year home value gains alongside strong grocery/pharmacy access and proximity to major employers should continue to reinforce steady renter demand and lease-up predictability.
Neighborhood safety metrics are mixed when compared across the metro and the nation. The area’s crime rank is 141 out of 244 Toledo neighborhoods, which is around the metro median. Nationally, overall crime sits near the middle of the pack, while violent offense comparisons are weaker than average. Importantly, recent trend data shows improvement: estimated violent offenses declined over the last year with performance in the top quintile of national improvement, and property offenses also trended down.
For investors, the takeaway is directional progress amid mid‑pack regional standing. Underwriting should incorporate prudent security, lighting, and property management practices to support resident satisfaction, with attention to ongoing trend monitoring rather than block‑level assumptions.
Proximity to established corporate employers underpins workforce rental demand and commute convenience, led by Dana and Owens Corning, with additional exposure to Owens‑Illinois. These nodes help support leasing depth and retention for nearby multifamily.
- Dana Holding Corporation — corporate offices (2.7 miles)
- Owens Corning — corporate offices (5.5 miles) — HQ
- Dana — corporate offices (14.9 miles)
- Dana Holding — corporate offices (14.9 miles) — HQ
- Owens-Illinois — corporate offices (15.5 miles) — HQ
Built in 1974, the asset presents a straightforward value‑add and capital planning opportunity: interiors, common areas, and building systems can be selectively modernized to enhance competitive positioning against both newer stock and well‑kept peers. Neighborhood fundamentals show occupancy in the top quartile nationally with a moderate renter concentration, practical amenity access (strong for groceries and pharmacies), and rent levels that remain manageable relative to local incomes — conditions that support retention and reduce volatility through cycles.
Looking ahead, 3‑mile demographics point to a larger household count by 2028 with smaller average household sizes, indicating more renters entering the market and supporting steady tenant demand. According to CRE market data from WDSuite, neighborhood rents have risen over the past five years and are projected to continue progressing, aligning with an underwriting case centered on operational improvements, modest rent increases, and measured expense control. Key considerations include safety metrics that are improving but remain mid‑pack in the metro and a homeownership landscape that can compete with entry‑level rent levels.
- Stabilized neighborhood with occupancy in the top quartile nationally, supporting steady leasing
- 1974 vintage offers clear value‑add levers via interior refresh and system upgrades
- Practical amenity access (grocery/pharmacy) and nearby employers bolster workforce demand
- 3‑mile outlook shows growth in households and smaller household sizes, expanding the renter base
- Risks: mid‑pack safety metrics and accessible ownership options warrant conservative underwriting