| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Good |
| Demographics | 51st | Good |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2329 Shoreland Ave, Toledo, OH, 43611, US |
| Region / Metro | Toledo |
| Year of Construction | 1974 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2329 Shoreland Ave Toledo Multifamily Investment
Neighborhood occupancy runs competitive for Toledo and supports steady leasing, according to WDSuite’s CRE market data, with renter demand reinforced by manageable rent-to-income levels that favor retention.
Situated in Toledo’s inner-suburb fabric, the area around 2329 Shoreland Ave offers practical livability drivers for workforce renters. Grocery and pharmacy access tests strong versus peers (both in the mid‑80s national percentiles), while restaurants, cafes, and parks are comparatively sparse. Investors should underwrite convenience for daily needs as a plus, with limited lifestyle amenities as a neutral-to-modest headwind for premium rents.
Occupancy in the neighborhood is competitive among Toledo’s 244 neighborhoods and sits in the top quartile nationally, per WDSuite. Median asking rents remain moderate locally and have risen over the last five years, suggesting stable pricing power without outsized affordability pressure. The neighborhood’s overall profile ranks above the metro median, giving it solid footing within the Toledo market without relying on trendier submarket dynamics.
Tenure skews more owner-occupied, with renter-occupied housing accounting for 25.9% of units in the neighborhood. For multifamily owners, this indicates a defined but not saturated renter pool and typically supports steadier occupancy over outsized turnover. Home values are comparatively accessible in the area, which can introduce competition from entry-level ownership; however, a low rent-to-income ratio (0.11) supports retention and renewals for well-managed properties.
Demographics within a 3‑mile radius show recent softness in population and household counts but forecast growth over the next five years, alongside smaller average household sizes. That mix implies a potential renter pool expansion and supports occupancy stability for well-located assets as more, smaller households seek rental options.
Safety indicators for the neighborhood track near the national middle overall, per WDSuite. Property crime has eased year over year, and violent offenses show notable improvement momentum. Nationally, the neighborhood sits close to the median for overall crime incidence, with violent‑crime levels below national norms but improving at a top‑quartile pace.
For underwriting, this points to risk that is manageable relative to broader Toledo and trending in a favorable direction. Operators can lean on well‑lit common areas, access control, and community engagement to support resident confidence and leasing consistency.
Proximity to established corporate employers underpins a diversified employment base and commute convenience for renters, led by Dana’s operations and major manufacturers Owens Corning and Owens‑Illinois.
- Dana Holding Corporation — automotive supplier offices (2.7 miles)
- Owens Corning — building materials HQ (5.5 miles) — HQ
- Dana — automotive (14.9 miles)
- Dana Holding — automotive (14.9 miles) — HQ
- Owens-Illinois — glass packaging (15.5 miles) — HQ
This 24‑unit asset benefits from a Toledo neighborhood that ranks above the metro median, with occupancy competitive locally and in the top quartile nationally. Daily‑needs access (groceries, pharmacies) is strong, while limited parks and cafe density temper lifestyle premiums. A low rent‑to‑income ratio supports retention and renewal strategies, while moderate rent levels offer room for disciplined value creation through operations and targeted unit upgrades.
Within a 3‑mile radius, recent softness in population and households is projected to reverse, with smaller household sizes pointing to a larger renter base over time. Homeownership remains comparatively accessible, which can constrain top‑end rent growth; however, according to CRE market data from WDSuite, steady occupancy and improving safety trends provide a foundation for durable cash flow with careful expense control and asset management.
- Competitive neighborhood occupancy supports stable leasing
- Strong daily‑needs access (groceries, pharmacies) for residents
- Low rent‑to‑income ratio favors tenant retention and renewals
- Forecast renter pool expansion with smaller household sizes (3‑mile radius)
- Risks: owner‑tilted tenure and accessible ownership can cap rent upside; limited parks/cafes may temper premiums