| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 29th | Poor |
| Demographics | 35th | Poor |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 401 Southgate Circle Dr, Toledo, OH, 43615, US |
| Region / Metro | Toledo |
| Year of Construction | 1981 |
| Units | 116 |
| Transaction Date | 2012-09-07 |
| Transaction Price | $2,195,000 |
| Buyer | SOUTHGATE WOODS 2011 LLC |
| Seller | SOUTHGATE WOODS APARTMENTS LP |
401 Southgate Circle Dr Toledo Multifamily Investment
Neighborhood renter-occupied share sits in the top quartile locally, supporting a deeper tenant base even as neighborhood occupancy trends remain below metro norms, according to WDSuite’s CRE market data.
Located in Toledo’s inner-suburban fabric, the immediate neighborhood carries a C+ rating and ranks 153 out of 244 metro neighborhoods, placing it below the metro median but still competitive for workforce housing. The area’s renter-occupied share ranks 51 of 244 (top quartile among metro neighborhoods), pointing to a meaningful pool of multifamily demand, while neighborhood occupancy has trailed peers in recent years but has improved over the last five years. All neighborhood figures reflect the broader area, not this specific property.
Daily-needs access is mixed. Childcare and pharmacies rank in the metro’s top quartile (22nd and 18th of 244), which supports family-oriented and long-term renter convenience. Food-and-beverage and park density are comparatively thin within the neighborhood, so resident draw hinges more on value, commute patterns, and essential services than on lifestyle clusters.
Within a 3-mile radius, households have ticked up modestly despite a slight population dip, indicating smaller average household sizes and a stable-to-expanding renter pool. Forecasts point to growth in both population and households by 2028, which would expand the tenant base and support occupancy stability if realized. Median rents in the 3-mile area have risen over the last five years, and incomes have advanced, reinforcing the case for steady demand management.
Ownership costs in the neighborhood are relatively low by national context, which can introduce some competition from entry-level ownership. For multifamily investors, that dynamic tends to emphasize value positioning, resident experience, and lease retention strategies over pure pricing power.
The property’s 1981 vintage is newer than the neighborhood’s average construction year (1974). That positioning can offer a competitive edge versus older stock while still warranting targeted capital planning for aging systems and selective modernization to enhance leasing velocity.
Safety indicators for the neighborhood sit near the metro midpoint, with a crime rank of 127 out of 244 Toledo neighborhoods. Year over year, both property and violent offense rates have declined meaningfully, suggesting an improving trend compared with recent history. These results are neighborhood-level, not property-specific, and should be monitored alongside on-the-ground management practices.
Proximity to established corporate offices supports renter demand through commute convenience and a diversified employment base. Nearby anchors include Dana, Dana Holding, Owens Corning, Owens-Illinois, and Dana Holding Corporation.
- Dana — corporate offices (5.0 miles)
- Dana Holding — corporate offices (5.0 miles) — HQ
- Owens Corning — corporate offices (6.1 miles) — HQ
- Owens-Illinois — corporate offices (7.2 miles) — HQ
- Dana Holding Corporation — corporate offices (7.7 miles)
401 Southgate Circle Dr brings 116 units of 1981-vintage product to an inner-suburban Toledo location where renter concentration is in the metro’s top quartile, indicating depth in the tenant base. Neighborhood occupancy levels have lagged metro norms but have improved over the last five years, suggesting better leasing conditions when paired with effective operations and value-focused positioning. Based on CRE market data from WDSuite, essential-service access is a relative strength (childcare and pharmacies), while lifestyle amenities are thinner, reinforcing a pragmatic, workforce-oriented appeal.
The 3-mile radius shows modest household growth alongside smaller household sizes and projected gains through 2028, which would expand the renter pool and support occupancy stability. Low local ownership costs may create competition from entry-level buying, so returns are likely to hinge on disciplined renovations, cost control, and resident retention rather than aggressive rent growth.
- Renter-occupied share among top-quartile metro neighborhoods supports a deeper tenant base.
- 1981 vintage offers competitive positioning versus older stock with targeted modernization upside.
- Essential-service access (childcare, pharmacies) underpins leasing stability for workforce renters.
- 3-mile forecasts indicate population and household growth, supporting renter pool expansion.
- Risk: neighborhood occupancy is below metro norms and lifestyle amenities are limited—execution and value positioning are critical.