| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Good |
| Demographics | 29th | Poor |
| Amenities | 19th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3965 Airport Hwy, Toledo, OH, 43615, US |
| Region / Metro | Toledo |
| Year of Construction | 1977 |
| Units | 42 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3965 Airport Hwy, Toledo Multifamily Investment
Neighborhood occupancy remains steady at 93.2%, and a high share of renter-occupied units supports tenant demand depth, according to WDSuite’s CRE market data.
Located in Toledo’s inner-suburb corridor, 3965 Airport Hwy sits in a renter-heavy neighborhood where 70.8% of housing units are renter-occupied. For multifamily owners, that concentration points to a sizable tenant base and potential leasing stability, while the neighborhood occupancy rate of 93.2% indicates demand near metro norms.
Daily convenience is supported by grocery access that is competitive among Toledo neighborhoods (ranked 80 out of 244), and restaurant density sits above the metro median (ranked 111 out of 244). Cafe, park, and pharmacy options are limited locally (ranks near the bottom of 244), and average school quality metrics trail national benchmarks. Investors should underwrite around these amenity and school factors when positioning for target renter profiles.
Demographic statistics aggregated within a 3-mile radius show a modest population contraction in recent years but a projected increase in households through 2028, which points to smaller household sizes and a potential renter pool expansion. Contract rents in the area remain relatively accessible versus incomes, and a rent-to-income ratio around 0.24 suggests manageable affordability pressures that can aid retention and lease management.
The property’s 1977 vintage is slightly older than the neighborhood average (1979), implying routine capital planning and selective value-add opportunities to keep finishes, systems, and curb appeal competitive against newer stock.
Safety indicators for the neighborhood track below national averages, with violent and property offense levels sitting in lower national percentiles. That said, recent trend data shows improvement, including a year-over-year decline in estimated violent offenses of about -30.7% and a -9.3% reduction in property offenses, based on CRE market data from WDSuite. Investors should reflect these dynamics in underwriting, balancing recent improvements against a still-elevated risk profile compared with many U.S. neighborhoods.
Employment anchors within a short drive include headquarters and major corporate offices in manufacturing and materials, which can support workforce renter demand and reduce commute frictions. The list below highlights nearby Dana Holding, Owens Corning, Owens-Illinois, and Marathon Petroleum.
- Dana Holding — automotive components (4.7 miles) — HQ
- Owens Corning — building materials (5.6 miles) — HQ
- Owens-Illinois — glass packaging (6.5 miles) — HQ
- Marathon Petroleum — energy (40.4 miles) — HQ
This 42-unit, 1977-vintage asset benefits from a renter-heavy neighborhood and steady occupancy around metro norms, providing a sizable tenant base and potential leasing durability. According to commercial real estate analysis from WDSuite, nearby grocery and restaurant access compares reasonably within the Toledo metro, while limited cafes, parks, and weaker school metrics suggest focusing on workforce and value-driven renter segments.
Forward-looking 3-mile demographics point to household growth and smaller household sizes by 2028, which can expand the renter pool and support occupancy. Given the older vintage, targeted renovations and systems upgrades can enhance competitiveness and drive value-add outcomes, while underwriting should account for below-average safety indicators and amenity limitations.
- Renter-heavy neighborhood (70.8% renter-occupied) supports tenant base depth and leasing stability.
- Occupancy near metro norms (93.2%) with grocery and restaurant access competitive within Toledo.
- 1977 vintage offers value-add potential via renovations and system improvements.
- 3-mile outlook indicates household growth and smaller household sizes, supporting renter pool expansion.
- Risks: below-average safety metrics and limited parks/cafes; tailor amenities and resident services accordingly.