| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 18th | Poor |
| Demographics | 17th | Poor |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2506 Seaman St, Toledo, OH, 43605, US |
| Region / Metro | Toledo |
| Year of Construction | 1981 |
| Units | 51 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2506 Seaman St, Toledo OH Multifamily Investment
Steady renter demand is supported by a meaningful renter-occupied housing base and proximity to major employers, according to WDSuite’s CRE market data, suggesting durable occupancy with disciplined rent management.
This Inner Suburb location in Toledo offers functional essentials more than lifestyle flair. Neighborhood grocery and pharmacy access ranks above many areas in the region (pharmacies are top quartile nationally and groceries are above average), while cafes, restaurants, parks, and childcare are comparatively sparse. For investors, this mix points to a practical living environment that can support workforce housing but may not command premiums tied to destination amenities.
The local housing stock skews older, and the subject property’s 1981 vintage is newer than the neighborhood average. That positioning can be a competitive advantage versus pre-war inventory, though investors should plan for aging systems and selective modernization to maintain leasing velocity and reduce turnover-related capex.
Neighborhood occupancy trends trail the metro average, indicating that leasing requires active management and value-oriented positioning. However, renter concentration is elevated (high national percentile for renter-occupied share), which expands the tenant base and can support stable absorption for appropriately priced units.
Within a 3-mile radius, demographics show recent softness in population and households but improving income trends and a forecast for renter pool expansion through the next cycle. These forward-looking dynamics, based on CRE market data from WDSuite, support the case for steady demand, provided rents align with local affordability and unit finishes meet practical expectations.
Home values in the immediate area are comparatively low in a national context. For multifamily owners, a more accessible ownership market can increase competition with entry-level homebuying; at the same time, low rent-to-income ratios suggest manageable affordability pressure that can aid retention, with pricing power driven more by unit quality and operations than by scarcity.
Safety indicators in this neighborhood trail the Toledo metro average and sit below national medians, signaling that crime incidence is higher than in many peer areas. That said, year-over-year data show notable improvements in both violent and property offense rates, which is a constructive trend to monitor for potential stabilization.
Relative positioning: the neighborhood ranks in the lower tier among 244 Toledo-area neighborhoods, while national percentiles indicate below-average safety today. Investors should incorporate pragmatic measures—lighting, access control, and resident engagement—into underwriting and asset plans, and track the recent downward trend in reported offenses as a potential tailwind if it continues.
Nearby anchors include Owens Corning, Dana, and Owens-Illinois, with Marathon Petroleum within commuting range. This cluster of corporate offices supports a steady workforce renter base and can aid retention through commute convenience.
- Owens Corning — building materials HQ (2.36 miles) — HQ
- Dana Holding Corporation — automotive components (4.54 miles)
- Owens-Illinois — glass packaging (11.80 miles) — HQ
- Dana — automotive components (12.04 miles)
- Marathon Petroleum — energy & refining (43.25 miles) — HQ
With 51 units built in 1981, the property is positioned as a practical, workforce-oriented asset that is newer than much of the surrounding housing stock. That vintage offers competitive footing versus older inventory while still warranting targeted upgrades to sustain leasing performance and reduce long-term capital surprises. According to CRE market data from WDSuite, the neighborhood’s renter concentration is high, supporting depth of demand even as overall occupancy trends lag the metro and require attentive operations.
Within a 3-mile radius, demographic data indicate improving income profiles and projections for population and household growth through 2028. Combined with strong access to essentials (groceries and pharmacies) and proximity to major employers, the setting can support stable absorption and retention when rents align with local affordability. Key risks include softer neighborhood safety metrics and competitive pressure from accessible entry-level homeownership, reinforcing the importance of value-add execution and disciplined rent strategy.
- 1981 vintage newer than neighborhood norms, with value-add and systems upgrades to enhance competitiveness
- Elevated renter-occupied share supports a broader tenant base and occupancy stability
- Employer proximity (Owens Corning, Dana, Owens-Illinois) underpins workforce demand and retention
- Essentials access (grocery/pharmacy) supports day-to-day livability; premium amenity scarcity limits rent premiums
- Risks: below-metro safety positioning and competition from accessible homeownership require disciplined pricing and operations