| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 29th | Poor |
| Demographics | 6th | Poor |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3315 Mayo St, Toledo, OH, 43611, US |
| Region / Metro | Toledo |
| Year of Construction | 2012 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3315 Mayo St, Toledo OH — 40-Unit Multifamily
Built in 2012, this asset competes well against older neighborhood stock while a high neighborhood renter concentration supports a deeper tenant base, according to WDSuite’s CRE market data from ongoing commercial real estate analysis.
Located in an Inner Suburb of Toledo, the property benefits from solid day-to-day conveniences: neighborhood grocery access and park coverage rank in the upper ranges metro-wide, while sit-down dining, cafes, and pharmacies are limited. For investors, that mix points to practical livability for workforce renters more than lifestyle-driven traffic.
The neighborhood’s housing stock trends older (average vintage 1945), making a 2012-built, 40-unit property comparatively competitive on curb appeal and systems. Newer vintage can reduce near-term capital exposure while still allowing targeted value-add or modernization to sharpen positioning versus legacy assets.
Neighborhood-level occupancy is measured at the neighborhood and sits below typical metro benchmarks, but renter-occupied share is high (indicating elevated renter concentration), which supports demand depth for multifamily. Median home values in the area are low relative to national norms; in this high-access ownership context, renter retention and pricing strategies should emphasize product differentiation and convenience to mitigate competition from ownership options.
Demographic statistics are aggregated within a 3-mile radius. Recent years show a modest population dip, yet forecasts indicate population growth and a notable increase in household counts alongside smaller average household sizes, pointing to a larger tenant base and more one- to two-person household formations that support occupancy stability for well-positioned units. Contract rents in the area remain low relative to incomes, which implies manageable affordability pressure and potential room for disciplined rent optimization as quality and service justify it, based on CRE market data from WDSuite.
Safety trends are mixed. Relative to other Toledo metro neighborhoods (244 total), crime ranks in the lower tiers, indicating higher incident rates than many peers. Nationally, the neighborhood sits below average for safety. However, violent-offense trends improved year over year, placing that improvement measure in a stronger national bracket, which suggests recent momentum rather than a structural shift.
For investors, this calls for pragmatic asset management: emphasize site-level security, lighting, and resident engagement to support retention, while recognizing that neighborhood safety performance is below metro averages but has shown improvement on violent-offense trends.
The area draws from a stable industrial and corporate base that supports workforce housing demand and commute convenience, notably from Dana’s regional presence, Owens Corning, and Owens-Illinois. The following nearby employers anchor consistent renter traffic.
- Dana Holding Corporation — automotive components (2.8 miles)
- Owens Corning — building materials (3.4 miles) — HQ
- Dana — automotive components (13.1 miles)
- Dana Holding — automotive components (13.2 miles) — HQ
- Owens-Illinois — packaging & glass (13.4 miles) — HQ
As a 2012 construction in a neighborhood dominated by older housing, the property offers relative competitive positioning with potential for targeted value-add. Neighborhood renter concentration is elevated, supporting a deeper tenant pool even as neighborhood occupancy trails metro norms. Within a 3-mile radius, households are projected to grow and average household size to decline, expanding the renter pool and supporting lease-up and retention for appropriately priced product.
Low neighborhood-level rents versus incomes indicate modest affordability pressure, which can support disciplined rent growth tied to quality upgrades and management. According to CRE market data from WDSuite, local conveniences skew toward groceries and parks rather than dining/entertainment, aligning the demand profile with practical, workforce-oriented renters; investors should account for this in marketing and amenity programming.
- 2012 vintage stands out versus older neighborhood stock, reducing near-term capex and enabling focused value-add.
- Elevated neighborhood renter concentration supports demand depth and potential occupancy stability with effective management.
- 3-mile outlook shows population and household growth with smaller household sizes, expanding the renter base.
- Low rent-to-income dynamics suggest room for disciplined pricing tied to product quality and service.
- Risk: neighborhood safety ranks below metro averages and lifestyle amenities are limited; plan for security measures and targeted leasing to workforce renters.