| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 24th | Poor |
| Demographics | 23rd | Poor |
| Amenities | 41st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 332 Beacon St, Toledo, OH, 43620, US |
| Region / Metro | Toledo |
| Year of Construction | 1987 |
| Units | 38 |
| Transaction Date | 2016-04-01 |
| Transaction Price | $3,162,500 |
| Buyer | BEACON PLACE USA LLC |
| Seller | GOODELL JOSEPH E |
332 Beacon St, Toledo OH Multifamily Investment
Renter concentration is high in the immediate neighborhood and the asset s 1987 vintage competes against older local stock, according to WDSuite s CRE market data. Positioning near downtown employers supports demand, though lease-up may require careful pricing and management.
Located in Toledo s inner-suburb fabric, the area is competitive among Toledo neighborhoods (82 of 244 on amenities) with strong day-to-day convenience from grocery and pharmacy density compared to national norms, while parks, restaurants, and cafes are limited. Average school ratings trend low versus the metro, which can influence household mix and marketing strategy for family renters.
Neighborhood occupancy trends run below the metro median, but renter-occupied share is high (71.3% of housing units), indicating a deep tenant base and durable multifamily demand. Median rent-to-income levels suggest relatively modest affordability pressure locally, which can aid retention but may temper near-term pricing power.
Within a 3-mile radius, households have been broadly stable with modest declines in recent years, while forward projections indicate growth in both households and income levels by 2028, supporting a larger tenant base and potential rent growth. Contract rents in this 3-mile radius have risen over the past five years and are projected to continue increasing, according to WDSuite s market data.
Vintage matters here: with an average neighborhood construction year near 1926, a 1987 property is newer than much of the competitive set. That can reduce near-term functional obsolescence and position value-add upgrades (systems, interiors, curb appeal) for outsized impact relative to older stock.
Safety indicators in the neighborhood track below metro and national averages, placing the area in a weaker cohort among the 244 Toledo neighborhoods. That said, recent trend data shows improvement: estimated violent-offense rates declined year over year, and property offenses edged lower as well. Investors typically account for these dynamics through on-site security practices, lighting, and resident screening, which can support leasing and retention.
Proximity to major employers underpins renter demand and commute convenience, particularly to Owens Corning and the Dana corporate footprint, with additional exposure to glass and packaging manufacturing. The following nearby employers shape the local employment base:
- Owens Corning building materials (1.2 miles) HQ
- Dana Holding Corporation auto parts (3.0 miles)
- Dana auto parts (10.2 miles)
- Dana Holding auto parts (10.2 miles) HQ
- Owens-Illinois glass & packaging (10.8 miles) HQ
332 Beacon St offers a 38-unit footprint with larger-than-typical layouts (average ~1,200 sq ft) and a 1987 vintage that is newer than much of the surrounding housing stock. This position supports competitive differentiation versus older assets while leaving room for targeted value-add to interiors and building systems. The neighborhood s high renter-occupied share signals depth in the tenant base, and proximity to established employers near downtown can bolster leasing and retention through cycle turns.
Within a 3-mile radius, recent soft population trends are projected to turn positive with growth in households and incomes by 2028, pointing to a larger renter pool and improved rent prospects. According to commercial real estate analysis from WDSuite, local rents have risen over the last five years and are expected to continue advancing, though below-metro occupancy and more accessible ownership costs nearby argue for disciplined revenue management and focused asset operations.
- Newer 1987 vintage versus older neighborhood stock supports competitive positioning
- Larger average unit sizes (~1,200 sq ft) aid renter appeal and retention
- High renter-occupied share and proximity to major employers support demand
- Forward 3-mile growth in households and incomes expands the renter pool
- Risks: below-metro occupancy, safety perceptions, and competition from lower-cost ownership options