| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Best |
| Demographics | 62nd | Good |
| Amenities | 15th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2551 Heather Hills Rd, Toledo, OH, 43614, US |
| Region / Metro | Toledo |
| Year of Construction | 1973 |
| Units | 24 |
| Transaction Date | 2004-07-15 |
| Transaction Price | $2,485,000 |
| Buyer | CONSOLIDATED HEATHER LLC |
| Seller | COLUMBIA HEATHER LTD |
2551 Heather Hills Rd Toledo Multifamily Investment
Neighborhood-level occupancy around 96.6% indicates steady renter demand and income durability, according to WDSuite’s CRE market data, with stability driven by a deep base of renter-occupied housing in the immediate area.
The property sits in an Inner Suburb pocket of Toledo rated B+, where neighborhood occupancy ranks 58 out of 244 metro neighborhoods — above the metro median and in the top quartile nationally for stability. Rent levels in the immediate neighborhood track near national midranges, suggesting room for disciplined revenue management without relying on outsized rent spikes.
Local amenity density is mixed: restaurants are competitive within the metro (ranked 15 of 244; top quartile locally and strong nationally), while everyday walkable services like cafes, groceries, parks, and pharmacies are thinner inside the neighborhood footprint. For investors, this points to car-oriented convenience along nearby corridors rather than true walk-to retail, which can influence marketing and amenity positioning.
Vintage matters. The property’s 1973 construction is older than the neighborhood’s average stock (1985), implying potential capital planning around systems, common areas, and unit interiors. That age profile also creates value-add upside where thoughtful renovations can sharpen competitive positioning against newer inventory.
Tenure dynamics support multifamily demand: a high share of housing units in the neighborhood are renter-occupied (ranked 13 of 244; top tier locally and high nationally), which signals a deep tenant base and supports leasing velocity. At the same time, relatively accessible ownership costs in the area (home values sit lower in national context) may create some competition from entry-level ownership, so retention and pricing strategy should emphasize convenience and upgraded finishes.
Demographic statistics aggregated within a 3-mile radius indicate modest population growth in recent years with a larger increase in households and a projected expansion through 2028. That pattern points to a gradually widening renter pool and supports occupancy stability over a multiyear hold, especially with rent-to-income levels that suggest manageable affordability pressure and potential for steady lease retention.
Safety trends are mixed but improving in context. The neighborhood s overall crime standing sits near the metro median (ranked 120 out of 244 Toledo neighborhoods) and roughly around the middle nationally. Recent year-over-year movement is favorable, with both violent and property offense rates trending down.
In national comparison, current levels benchmark closer to the lower half for safety, but improvements are notable: estimated violent offense rates declined materially year over year (top quintile improvement nationally), and property offenses also fell at a pace that outperformed many areas nationwide. For investors, this trajectory suggests monitoring remains prudent, yet the direction of change has been constructive.
The surrounding Toledo employment base blends headquarters and major corporate offices that help sustain renter demand through commute-friendly access. Notable nearby employers include Dana, Dana Holding, Owens-Illinois, and Owens Corning.
- Dana corporate offices (2.6 miles)
- Dana Holding corporate offices (2.6 miles) HQ
- Owens-Illinois corporate offices (4.5 miles) HQ
- Owens Corning corporate offices (7.3 miles) HQ
- Dana Holding Corporation corporate offices (9.9 miles)
2551 Heather Hills Rd offers a practical, defensible play in a Toledo Inner Suburb with solid neighborhood occupancy and a deep renter base. Based on CRE market data from WDSuite, the area s occupancy ranks above the metro median and in the top quartile nationally, while the property s 1973 vintage positions it for targeted value-add where refreshed interiors and building systems can strengthen competitive standing against newer stock. A 3-mile radius shows modest recent population gains and a larger increase in households, with forecasts pointing to further renter pool expansion and supportive rent growth over the medium term.
Affordability appears manageable in this submarket, which can aid lease retention and stabilize collections, though relatively accessible ownership costs may limit outsized pricing power. Amenity density skews toward restaurants over daily-needs retail inside the neighborhood footprint, suggesting a car-oriented renter profile and opportunities to compete on convenience, parking, and in-unit upgrades.
- Occupancy strength above metro median supports income durability and leasing stability.
- 1973 vintage creates clear value-add pathways via interior upgrades and systems.
- 3-mile demographic outlook indicates renter pool expansion that can support steady absorption.
- Employer base with nearby corporate HQs underpins workforce demand and retention.
- Risks: limited walkable services and relatively accessible ownership options may temper pricing power; sustained asset reinvestment is important.