| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Fair |
| Demographics | 60th | Good |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3125 Ilger Ave, Toledo, OH, 43606, US |
| Region / Metro | Toledo |
| Year of Construction | 1982 |
| Units | 48 |
| Transaction Date | 2017-03-07 |
| Transaction Price | $663,100 |
| Buyer | HAMPTON COURT LLC |
| Seller | HAMPTON COURT LTD |
3125 Ilger Ave Toledo Multifamily Investment
Renter-occupied housing is elevated in the surrounding neighborhood, supporting a deeper tenant base and steadier leasing, according to WDSuite’s CRE market data. Neighborhood occupancy has remained broadly stable, suggesting predictable operations for a 48-unit asset.
Located in an Inner Suburb of Toledo rated A (ranked 37 out of 244 metro neighborhoods), the area combines everyday convenience with investment fundamentals that are competitive among Toledo neighborhoods. According to CRE market data from WDSuite, neighborhood occupancy is 90.9% (neighborhood-level, not the property), and renter-occupied housing represents 54.7% of units—both supportive of multifamily demand depth and day-to-day leasing velocity.
Amenities are a relative strength: the neighborhood sits near the top of the metro for grocery, restaurant, and cafe density (ranks 6–7 out of 244), while parks and childcare options are comparatively limited. Average school ratings in the area trend competitive locally (rank 31 of 244; top quartile nationally), which can aid family retention without commanding premium pricing.
Within a 3-mile radius, recent data show modest population softness over the last cycle but an outlook that points to a larger household base and higher median incomes ahead, indicating a broader renter pool and support for occupancy stability. Median contract rents at the neighborhood level track mid-market, and a rent-to-income profile around 0.18 suggests manageable affordability pressure from a landlord perspective, aiding renewal strategies and minimizing turnover risk.
The property’s 1982 vintage is newer than the neighborhood’s older housing stock (average construction year 1954). This positioning can enhance competitiveness versus legacy assets, while still leaving room for targeted modernization—particularly common areas and building systems—to capture incremental rent and reduce near-term CapEx variability. In a market with relatively low home values, ownership can be accessible, which may temper pricing power; the counterbalance is a sizable renter base that sustains demand for well-managed units.
Safety conditions should be evaluated with care. At the neighborhood level, crime ranks 180 out of 244 Toledo neighborhoods—below the metro median—and national safety percentiles indicate the area performs weaker than many U.S. neighborhoods. That said, WDSuite’s data show meaningful year-over-year declines in both violent and property offenses locally, an improving trend investors can monitor as part of ongoing risk management.
For underwriting, practical measures such as lighting, access control, and community engagement can help support tenant retention and reduce non-revenue time. Compare security-related OpEx and insurance assumptions to similar Inner Suburb assets across the Toledo metro to keep pro formas aligned with current conditions.
Nearby corporate offices provide a diversified employment base and convenient commutes that support renter demand and lease retention. Key employers within a commutable radius include Dana, Owens Corning, and Owens-Illinois.
- Dana Holding Corporation — corporate offices (4.6 miles)
- Owens Corning — corporate offices (5.1 miles) — HQ
- Dana — corporate offices (8.8 miles)
- Dana Holding — corporate offices (8.8 miles) — HQ
- Owens-Illinois — corporate offices (10.8 miles) — HQ
3125 Ilger Ave offers durable renter demand drivers in an Inner Suburb location with strong everyday amenities and a renter-occupied housing share that supports a deeper tenant base. The 1982 vintage is newer than much of the local stock, positioning the asset competitively versus older properties while leaving room for targeted value-add to common areas and building systems. Neighborhood occupancy of 90.9% and mid-market rents (both neighborhood-level metrics) point to steady operations rather than speculative lease-up. Home values in the area are relatively low, which can create some competition from ownership; balancing that, the sizable renter cohort underpins ongoing multifamily demand.
Forward signals within a 3-mile radius indicate an expanding household base and income growth, translating into a larger renter pool and support for rent and occupancy management. According to WDSuite’s multifamily property research, these dynamics align with Toledo’s mid-tier positioning nationally while offering room for operational upside through renovations, expense control, and professional management.
- Renter demand depth: elevated neighborhood renter-occupied share supports leasing and renewals.
- Competitive positioning: 1982 construction competes well against older local stock with value-add potential.
- Amenity convenience: strong access to groceries and dining helps retention without luxury premiums.
- Risks: below-metro safety ranking and accessible homeownership warrant conservative rent growth, security planning, and insurance stress tests.