| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Good |
| Demographics | 29th | Poor |
| Amenities | 19th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3847 Airport Hwy, Toledo, OH, 43615, US |
| Region / Metro | Toledo |
| Year of Construction | 1975 |
| Units | 52 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3847 Airport Hwy Toledo Value-Add Multifamily
High renter concentration and steady neighborhood occupancy support durable leasing, according to WDSuite s CRE market data. Positioning and operations will matter, but demand depth favors stabilized cash flow over time.
Located in Toledo s inner-suburb corridor, the property sits in a renter-heavy neighborhood where 70.8% of housing units are renter-occupied. That depth of the tenant base typically supports leasing stability and turnover management for multifamily owners. Neighborhood occupancy is 93.2%, which is near the metro median (ranked 126 out of 244) and modestly above the national midpoint (60th percentile), suggesting demand that can underpin consistent operations.
Local amenity density is mixed. Grocery access is competitive among Toledo neighborhoods (ranked 80 out of 244), while parks, pharmacies, and caf e9s are comparatively limited at the neighborhood scale. For investors, this implies marketing should emphasize convenience to regional retail corridors rather than walk-to neighborhood amenities.
The average construction year across nearby stock trends late-1970s, and this asset s 1975 vintage is slightly older. That typically points to capital planning around systems and interiors and potential value-add repositioning to differentiate against similar 1970s product.
Within a 3-mile radius, demographics indicate a shifting renter pool: households have grown in recent years while average household size edged lower, increasing the number of household decision-makers. Forward-looking data shows projected population growth and a substantial increase in households by 2028, which can expand the tenant base and support occupancy. Median incomes in the 3-mile area are projected to rise, and asking rents are also projected to increase, reinforcing revenue potential while requiring attention to affordability thresholds for retention.
Neighborhood safety trends are mixed relative to peers. The area ranks 218 out of 244 Toledo neighborhoods for crime, indicating below-average safety locally and a position below the national median (36th percentile) when compared with neighborhoods nationwide. Recent momentum, however, shows improvement: estimated violent offenses decreased year over year (about 30%), and property offenses also trended lower (about 9%).
Investors typically account for this context through property-level measures and resident engagement while underwriting to market realities. Monitoring trend direction and submarket comparables can help calibrate exposure and retention strategies.
Proximity to established corporate offices supports a steady commuter renter base and can aid retention for workforce housing. Nearby anchors include Dana, Dana Holding, Owens Corning, and Owens-Illinois.
- Dana corporate offices (4.8 miles)
- Dana Holding corporate offices (4.8 miles) HQ
- Owens Corning corporate offices (5.5 miles) HQ
- Owens-Illinois corporate offices (6.5 miles) HQ
This 52-unit asset built in 1975 offers a classic value-add profile in a renter-dense neighborhood where occupancy runs near the metro median and above the national midpoint. High renter concentration signals depth of demand, while a slightly older vintage points to interior and systems updates that can unlock competitive positioning and rent resiliency versus similar late-1970s stock. According to CRE market data from WDSuite, neighborhood occupancy and the area s renter-occupied share provide a foundation for stable leasing, with corporate employment nodes nearby supporting commuter demand.
Underwriting should balance demand depth with two practical considerations: safety metrics that trail metro averages and a high-cost-of-capital environment for renovations. Low local home values relative to national norms can introduce competition from ownership, but they also set a clear pricing lane for well-managed rental housing; rent-to-income levels suggest room for carefully managed increases, provided operators prioritize retention and value delivery.
- Renter-heavy neighborhood supports a larger tenant base and occupancy stability.
- 1975 vintage creates value-add and modernization upside versus comparable 1970s stock.
- Proximity to Dana, Owens Corning, and Owens-Illinois underpins commuter demand and retention.
- Pricing power framed by low local home values and rent-to-income levels; focus on lease management for retention.
- Risks: safety rank below metro average and amenity limitations at the neighborhood scale.