| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Good |
| Demographics | 29th | Poor |
| Amenities | 19th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3931 Airport Hwy, Toledo, OH, 43615, US |
| Region / Metro | Toledo |
| Year of Construction | 1976 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3931 Airport Hwy Toledo 60-Unit Multifamily Investment
Neighborhood occupancy trends are steady with a deep renter base, supporting durable leasing fundamentals according to WDSuite’s CRE market data. Positioning at value-oriented rents can capture demand while maintaining tenant retention in this inner-suburban Toledo location.
This inner-suburban pocket of Toledo offers practical livability for workforce renters. Grocery access is competitive among Toledo neighborhoods (ranked 80 of 244), while restaurants track near national averages; broader amenities such as parks, cafes, and childcare are thinner, which suggests residents rely on nearby corridors for services. School ratings in the surrounding area trail national norms, a consideration for family-oriented leasing strategies.
For investors, the neighborhood’s occupancy is around the metro midpoint and above the national median, indicating resilient baseline demand even without destination amenities. Renter concentration is notably high (top national percentile), expanding the potential tenant pool and supporting leasing stability for multifamily assets.
Within a 3-mile radius, recent years show households up modestly while population edged down, pointing to smaller household sizes and sustained demand for rental housing. Forward-looking estimates indicate population and household growth with further reductions in average household size and rising incomes, which can broaden the renter pool and support renewals and lease-up. Median home values are lower than national norms, meaning ownership is comparatively accessible; multifamily operators should focus on value and convenience to minimize competition from entry-level ownership while preserving pricing power.
The property’s 1976 vintage is slightly older than the neighborhood’s average build year, creating clear value-add angles through targeted unit upgrades and systems modernization to improve competitiveness versus newer stock.
Relative to the Toledo metro, this neighborhood ranks toward the lower end on safety (ranked 218 out of 244 neighborhoods), and it trails most neighborhoods nationally on both property and violent offense benchmarks. While current levels are elevated compared with national baselines, recent year-over-year data show a meaningful decline in violent incident rates, suggesting improving momentum. Investors should underwrite prudent security measures and asset-level design choices that support resident comfort and retention.
Proximity to established corporate offices supports a stable workforce renter base and commute convenience. Key nearby employers include Dana, Dana Holding, Owens Corning, Owens-Illinois, and Dana Holding Corporation.
- Dana — corporate offices (4.7 miles)
- Dana Holding — corporate offices (4.7 miles) — HQ
- Owens Corning — corporate offices (5.6 miles) — HQ
- Owens-Illinois — corporate offices (6.5 miles) — HQ
- Dana Holding Corporation — corporate offices (7.8 miles)
3931 Airport Hwy brings 60 units in an inner-suburban Toledo location where neighborhood occupancy is around the metro midpoint and above national medians, and renter concentration is high, supporting a deep tenant base. According to CRE market data from WDSuite, nearby amenities are serviceable but not destination-grade, so value, convenience, and upgrade-driven competitiveness are the primary levers for performance.
The 1976 vintage points to actionable value-add through interior refreshes and selective building systems updates to strengthen positioning against newer supply. Within a 3-mile radius, smaller household sizes, projected growth in population and households, and rising incomes support demand for rental units and renewal stability, while comparatively accessible ownership options argue for disciplined rent setting and resident experience to limit move-outs to entry-level home purchases.
- High renter concentration and steady neighborhood occupancy reinforce leasing durability
- 1976 vintage enables targeted value-add and systems modernization to lift competitiveness
- 3-mile trade area outlook shows growing households and incomes, supporting tenant demand
- Workforce location near major corporate offices underpins day-to-day renter demand
- Risks: safety metrics below metro averages and potential competition from accessible ownership