| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Fair |
| Demographics | 41st | Fair |
| Amenities | 13th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3716 Hill Ave, Toledo, OH, 43607, US |
| Region / Metro | Toledo |
| Year of Construction | 1982 |
| Units | 51 |
| Transaction Date | 2019-06-19 |
| Transaction Price | $1,091,000 |
| Buyer | TOLEDO 202 1 LP |
| Seller | ST GEORGES ANTIOCHIAN ORTHODOX HSNG CORP |
3716 Hill Ave, Toledo OH Multifamily Investment
Neighborhood multifamily occupancy is 92.7%, with a renter-occupied share near the majority, suggesting a stable tenant base in this inner-suburb location, according to WDSuite s CRE market data. Positioned for cash-flow focus with room for selective upgrades rather than lease-up risk.
Located in an Inner Suburb of Toledo, the neighborhood sits above the national midpoint for occupancy (92.7% for the neighborhood, not the property), indicating demand resilience relative to broader markets. Renter-occupied housing makes up an estimated 53.8% of neighborhood units (top decile nationally), which supports depth of the tenant pool and generally steadier leasing dynamics for multifamily.
Within a 3-mile radius, recent history shows a modest population dip alongside a small increase in households, and projections point to population growth and a sizable increase in households over the next five years. Smaller average household sizes are also expected, which typically expands the renter pool and supports occupancy stability. Median contract rents in the area track below national levels, and a rent-to-income ratio around 0.13 suggests relatively low affordability pressure that can aid retention and measured pricing power.
Amenity density is mixed: restaurants are comparatively prevalent versus both metro and national norms, while grocery, parks, childcare, and pharmacy options are thinner in the immediate neighborhood. For investors, this combination often implies car-oriented living and competitive positioning for properties offering on-site conveniences or proximity to key corridors.
Median home values in the neighborhood are lower than national norms. In practice, a more accessible ownership market can introduce competition for some renters, but it also allows multifamily to compete on convenience and flexibility; lease management should emphasize retention and service quality over aggressive rent steps. School ratings trend below metro averages; while not a direct proxy for performance, this can shape unit mix appeal and marketing focus.
Neighborhood safety indicators track close to the national middle overall. Recent trend data show notable year-over-year declines in both violent and property offenses, a constructive signal for investor risk assessment. These figures reflect neighborhood-level patterns within the Toledo metro and should be used as directional context rather than property-specific guarantees.
Compared with neighborhoods nationwide, the area sits around the median for overall safety, with improvement momentum that is favorable for perceptions and leasing. As always, investors should underwrite with property-level measures in mind (lighting, access control, cameras) to sustain retention and protect NOI as conditions evolve.
Nearby corporate anchors provide a diversified employment base that supports renter demand and commute convenience, notably in building materials, automotive, glass packaging, and energy. Employers include Owens Corning, multiple Dana operations, Owens-Illinois, and Marathon Petroleum.
- Owens Corning building materials (5.0 miles) HQ
- Dana automotive (5.9 miles)
- Dana Holding automotive (5.9 miles) HQ
- Dana Holding Corporation automotive (6.7 miles)
- Owens-Illinois glass packaging (7.7 miles) HQ
- Marathon Petroleum energy (41.6 miles) HQ
Built in 1982, the property is newer than the neighborhood s average vintage, offering relative competitiveness versus older stock while leaving room for targeted modernization of systems and finishes. Neighborhood occupancy of 92.7% (neighborhood metric) and a high renter-occupied share support a durable tenant base; median rents remain below national levels, supporting retention and prudent rent steps. Based on commercial real estate analysis and CRE market data from WDSuite, the surrounding 3-mile area shows a recent shift toward more households and projected growth ahead, which typically broadens the renter pool.
Amenity density is uneven strong restaurant presence but limited daily-needs options nearby so properties that emphasize on-site convenience and access can differentiate. Lower neighborhood home values can create some ownership competition; however, relatively low rent-to-income levels suggest manageable affordability pressure that supports occupancy and renewals when paired with disciplined operations.
- 1982 vintage competitive versus older local stock, with value-add via selective upgrades
- Neighborhood occupancy near 93% and high renter concentration support leasing stability
- 3-mile outlook shows household growth and smaller household sizes, expanding the renter pool
- Below-national rents and low rent-to-income levels aid retention and measured pricing power
- Risks: uneven amenity access and more accessible ownership may temper rent growth underwrite to service quality and renewal execution