| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Best |
| Demographics | 66th | Best |
| Amenities | 69th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2850 Wilford Dr, Toledo, OH, 43615, US |
| Region / Metro | Toledo |
| Year of Construction | 2002 |
| Units | 46 |
| Transaction Date | 2018-01-10 |
| Transaction Price | $424,000 |
| Buyer | DERBY SQUARE LLC |
| Seller | DERBY VILLAGE APARTMENTS LLC |
2850 Wilford Dr Toledo Multifamily Investment
Neighborhood occupancy near 98% indicates stable renter demand and supports income durability, according to WDSuite’s CRE market data.
Situated in Toledo’s inner suburbs, the property benefits from a neighborhood that ranks highly within the metro and performs strongly versus national peers. Neighborhood occupancy is in the top decile nationally, suggesting steady leasing conditions and lower downtime risk for operators, per WDSuite market data. Note: occupancy and amenity metrics reference the neighborhood, not the property.
Local amenity density leans favorable for daily needs and convenience retail. Cafes and restaurants score in high national percentiles, and groceries are also comparatively dense, which can support resident retention. Park access within the immediate neighborhood is limited, which may be a minor livability trade-off to monitor for family-oriented renter segments.
Vintage context matters: the area’s average construction year is 1989, while this asset was built in 2002. Newer relative vintage can be competitively positioned against older stock, though investors should still plan for system updates and selective modernization as part of long‑term capital planning.
Demographics aggregated within a 3‑mile radius point to a growing tenant base and income tailwinds. Recent population and household growth, alongside rising median incomes, indicate a larger pool of qualified renters, which can support occupancy stability and measured rent advancement. Within the same 3‑mile radius, about one‑third of housing units are renter‑occupied, signaling a meaningful renter concentration that underpins multifamily demand.
Ownership costs in the neighborhood are elevated relative to local incomes in some segments but remain more accessible than many coastal markets. This context, combined with a low rent‑to‑income reading at the neighborhood level, suggests manageable affordability pressure for renters and potential pricing power for well‑amenitized units without overextending lease management risk.
Safety indicators for the neighborhood are favorable in a metro context and sit above the national middle of the pack, according to WDSuite. Nationally, the area is in a higher safety percentile than many neighborhoods, and both property and violent offense rates show notable year‑over‑year improvement, placing recent trend changes in a top decile improvement cohort nationwide. These are neighborhood‑level signals and should be evaluated alongside property‑specific security measures.
Within the Toledo metro’s 244 neighborhoods, this location is competitive on safety benchmarks rather than an outlier at either extreme. For investors, the directional improvement supports resident retention and leasing stability, while ongoing monitoring remains prudent as part of standard asset management.
Proximity to major employers supports a diversified renter base and practical commute times, notably to Dana, Owens Corning, Owens‑Illinois, Thermo Fisher Scientific, and Marathon Petroleum. This mix of automotive, building materials, packaging, life sciences, and energy roles can help sustain leasing depth and retention.
- Dana Holding — automotive supplier (7.2 miles) — HQ
- Owens Corning — building materials (8.5 miles) — HQ
- Owens-Illinois — glass packaging (10.3 miles) — HQ
- Thermo Fisher Scientific — life sciences (42.3 miles)
- Marathon Petroleum — energy & refining (44.0 miles) — HQ
Built in 2002, this 46‑unit asset stands newer than the neighborhood’s average vintage, offering a relative competitive edge versus older product while still benefiting from neighborhood occupancy near the top of national benchmarks. According to CRE market data from WDSuite, neighborhood rent burdens are low, which supports lease retention and measured rent growth for assets that maintain quality and convenience.
Within a 3‑mile radius, population and household counts have been trending upward with further growth projected, pointing to a larger tenant base over the medium term. Local amenity density (food, beverage, and grocery) reinforces day‑to‑day livability, while accessible homeownership conditions in parts of the metro introduce some competitive pressure that owners can offset with thoughtful unit finishes and operational execution.
- Neighborhood occupancy in a high national percentile supports income stability
- 2002 vintage provides relative competitiveness vs. older local stock with selective modernization upside
- 3‑mile demographic growth expands the renter pool and underpins leasing depth
- Amenity‑rich corridor (cafes, restaurants, groceries) aids retention and pricing power
- Risks: some competition from ownership options and limited nearby park space; maintain capex and asset positioning