| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 28th | Poor |
| Demographics | 46th | Fair |
| Amenities | 12th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2830 131st St, Toledo, OH, 43611, US |
| Region / Metro | Toledo |
| Year of Construction | 1972 |
| Units | 56 |
| Transaction Date | 2005-08-25 |
| Transaction Price | $1,175,000 |
| Buyer | DOWELL RONALD R |
| Seller | YOSEMITE EQUITY HOLDINGS LTD |
2830 131st St Toledo Multifamily Value-Add Potential
Stabilizing neighborhood fundamentals and relatively attainable rents suggest durable renter demand, according to WDSuite’s CRE market data. The asset’s positioning in an inner-suburban pocket of Toledo supports steady leasing with room for operational improvement.
This inner-suburb of Toledo offers pragmatic livability for workforce renters. Restaurants are present at a meaningful density versus many peers in the metro, while other daily amenities like cafes, groceries, parks, and pharmacies are thinner locally. School options trend below national norms, so family-oriented leasing may hinge more on unit quality and value than on district draw.
For multifamily investors, neighborhood occupancy sits near the metro middle and has improved over the last five years, signaling firmer leasing conditions without overheating. Renter-occupied housing represents a smaller share of the stock, indicating a more owner-leaning area; that typically means steadier but shallower multifamily demand depth and the need for product that clearly outcompetes nearby ownership alternatives.
Within a 3-mile radius, demographics show modest population softness recently with forecasts pointing to population growth and a notable increase in households alongside smaller average household sizes. That shift typically expands the renter pool and supports occupancy stability for well-managed properties. Median contract rents in the neighborhood remain on the lower side nationally, which can aid retention while still allowing disciplined, renovation-driven rent steps.
Home values are comparatively low for the region, creating some competition from entry-level ownership. For investors, this dynamic favors strategies that emphasize functional renovations, convenience, and professional management to sustain pricing power and lease retention — a practical approach supported by commercial real estate analysis from WDSuite.
Safety indicators in this Toledo neighborhood track close to the metro median and around the national middle. Recent trends are constructive: both property and violent offense rates have moved lower year over year, which is consistent with improving conditions rather than a guaranteed trajectory. Investors should underwrite to submarket-level comps and monitor trends across Toledo’s 244 neighborhoods for continued confirmation.
Proximity to established manufacturers and corporate offices supports a stable commuter tenant base. Nearby employers include Dana, Owens Corning, and Owens-Illinois, providing a mix of engineering, advanced materials, and corporate roles that reinforce weekday demand and retention.
- Dana Holding Corporation — automotive components (3.2 miles)
- Owens Corning — building materials (5.9 miles) — HQ
- Dana — automotive components (15.3 miles)
- Dana Holding — automotive components (15.4 miles) — HQ
- Owens-Illinois — glass packaging (15.9 miles) — HQ
Built in 1972, the property is newer than much of the surrounding housing stock, offering relative competitiveness versus older inventory while leaving room for targeted modernization to unlock value-add upside. Neighborhood rents trend on the attainable side nationally, and occupancy has firmed, supporting steady leasing and manageable turnover for thoughtfully upgraded units.
Within a 3-mile radius, forecasts point to population growth, a sizable increase in households, and smaller household sizes — dynamics that typically expand the renter base and support occupancy stability. At the same time, a more owner-leaning tenure mix implies measured pricing power; success will hinge on operational execution, renovations that resonate with workforce renters, and careful expense control. According to CRE market data from WDSuite, these fundamentals are broadly in line with Toledo s inner-suburban profile.
- 1972 vintage offers competitive positioning versus older stock with clear renovation upside
- Attainable rent levels support retention while allowing value-add driven rent steps
- Forecast household growth and smaller household sizes expand the local renter pool
- Proximity to established employers underpins steady commuter demand
- Risk: competition from entry-level ownership may temper pricing power; focus on execution and amenities