| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Good |
| Demographics | 58th | Good |
| Amenities | 10th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4143 N Terrace View St, Toledo, OH, 43607, US |
| Region / Metro | Toledo |
| Year of Construction | 1977 |
| Units | 44 |
| Transaction Date | 2004-06-03 |
| Transaction Price | $2,870,000 |
| Buyer | BULLARD LEONARD C |
| Seller | TERRACEVIEW APARTMENTS LTD |
4143 N Terrace View St, Toledo OH Multifamily Opportunity
Renter demand is supported by a high neighborhood share of renter-occupied units and occupancy near local norms, according to WDSuite’s CRE market data, positioning this asset for stable leasing relative to comparable Toledo stock.
Located in an Inner Suburb of Toledo (neighborhood rating: B-), the property sits in a submarket where occupancy trends at the neighborhood level are steady and renter concentration is strong. The share of renter-occupied housing ranks in the top quartile among 244 Toledo neighborhoods and is also high by national standards, reinforcing a deeper tenant base for multifamily operators.
Livability is mixed: restaurant density is competitive versus national norms, but daily-needs retailers such as grocery, pharmacies, parks, cafes, and childcare are limited within the immediate neighborhood. For investors, this typically means resident convenience depends more on short drives to adjacent corridors rather than walkable access, which can influence leasing preferences and retention strategies.
Within a 3-mile radius, demographics indicate a sizable young adult cohort alongside smaller average household sizes, and households are projected to increase over the next five years. This trend points to a larger tenant base and supports demand for smaller floor plans—consistent with the asset’s average unit size of 450 square feet—potentially aiding occupancy stability and leasing velocity.
Home values in the neighborhood are lower relative to national benchmarks, which can make ownership more accessible and introduce competition with entry-level home purchases. At the same time, neighborhood-level rents and a rent-to-income profile that is not stretched suggest manageable affordability pressure, supporting lease retention and measured pricing power for operators.
Safety conditions should be evaluated in a comparative and trend context. The neighborhood sits below the national median for safety based on national percentiles, and recent indicators suggest an uptick in property-related incidents. While conditions can vary block to block, investors typically underwrite with added attention to security, lighting, and community management to support tenant retention.
Within the Toledo metro (244 neighborhoods), relative positioning suggests monitoring rather than alarm. For underwriting, consider historical trend lines and property-level measures that can mitigate risk, and track changes alongside broader Toledo neighborhood trends over time.
The area draws from nearby headquarters and corporate offices in building materials, auto parts, and packaging that help anchor workforce housing demand through commute convenience.
- Owens Corning — building materials (5.6 miles) — HQ
- Dana Holding Corporation — auto parts (6.3 miles)
- Dana Holding — auto parts (6.9 miles) — HQ
- Owens-Illinois — glass & packaging (9.1 miles) — HQ
- Marathon Petroleum — energy (43.1 miles) — HQ
This 44-unit asset benefits from a neighborhood with strong renter concentration and occupancy near local norms, supporting stable leasing fundamentals. Within a 3-mile radius, households are projected to grow while average household size trends smaller, implying renter pool expansion that aligns with the property’s smaller average unit sizes and positions the asset competitively for workforce housing demand.
Lower neighborhood home values may temper pricing power as some residents weigh ownership options, but manageable rent-to-income dynamics and proximity to major employers support retention. According to CRE market data from WDSuite, the surrounding neighborhood’s demand drivers are balanced by limited immediate amenities and a safety profile that tracks below the national median—factors investors can address through targeted operations and resident experience.
- Strong renter concentration and steady neighborhood occupancy support leasing stability
- Household growth and smaller household sizes (3-mile radius) expand the tenant base for smaller units
- Access to nearby headquarters and offices supports workforce renter demand and potential retention
- Risks: limited walkable amenities, below-national-median safety, and competition from accessible ownership options