| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Good |
| Demographics | 29th | Poor |
| Amenities | 19th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4237 Airport Hwy, Toledo, OH, 43615, US |
| Region / Metro | Toledo |
| Year of Construction | 1973 |
| Units | 24 |
| Transaction Date | 2010-06-21 |
| Transaction Price | $795,000 |
| Buyer | SWAN PARK II LLC |
| Seller | NONEMAN DENNIS J |
4237 Airport Hwy, Toledo OH Multifamily Investment
Neighborhood fundamentals point to a deep renter base, with about 70.8% of housing units renter-occupied and occupancy near the national median, according to WDSuite’s CRE market data. This positioning supports demand stability for a 24-unit asset while allowing disciplined value-add execution.
Located in an Inner Suburb of Toledo, the property sits in a renter-driven neighborhood (top quartile renter concentration among 244 metro neighborhoods). For investors, this signals a broad tenant pool and potential for consistent leasing, even as individual property performance will vary with management and finish quality.
Everyday convenience is serviceable rather than destination-driven. Grocery access trends above the national median, restaurants are around the national midpoint, while parks, pharmacies, cafes, and childcare options are limited within the neighborhood boundary. School quality indicators track below national benchmarks; operators should calibrate marketing and retention strategies accordingly.
Rent levels in the neighborhood sit below national norms, and the rent-to-income ratio is relatively low, which can support retention but may temper near-term pricing power. Median home values are also low compared with national levels; in practice, this can introduce some competition from entry-level ownership, so positioning, finishes, and resident services matter for renewals.
Demographic statistics within a 3-mile radius show a modest population contraction in recent years alongside a small increase in households, indicating smaller household sizes and a shifting renter mix. Forward-looking estimates point to growth in both households and incomes over the next five years, expanding the potential renter pool and supporting occupancy and lease-up durability for well-managed assets.
Safety conditions are mixed when viewed against the broader Toledo metro. The neighborhood’s crime rank is 218 out of 244 metro neighborhoods, placing it below the metro average and in lower national percentiles for safety. That said, recent year-over-year estimates indicate declines in both violent and property offenses, suggesting directional improvement rather than a structural shift.
Investors should underwrite with conservative assumptions, emphasize on-site safety practices, and monitor submarket trends over multiple periods. Comparative positioning versus nearby Toledo neighborhoods remains an important factor for leasing and retention.
Proximity to corporate offices underpins renter demand by shortening commutes for a diverse workforce. Notable nearby employers include Dana, Dana Holding, Owens Corning, Owens-Illinois, and Dana Holding Corporation.
- Dana — corporate offices (4.6 miles)
- Dana Holding — corporate offices (4.6 miles) — HQ
- Owens Corning — corporate offices (5.7 miles) — HQ
- Owens-Illinois — corporate offices (6.4 miles) — HQ
- Dana Holding Corporation — corporate offices (7.9 miles)
4237 Airport Hwy is a 24-unit 1973 vintage asset in a renter-heavy Toledo neighborhood. The area posts occupancy near the national median and a top-quartile renter concentration among 244 metro neighborhoods, which supports a stable tenant base and recurring demand. According to CRE market data from WDSuite, neighborhood rents and rent-to-income levels are comparatively low, favoring retention but requiring disciplined renewal management to capture incremental growth.
Given its 1973 construction, investors should plan for targeted capital improvements to remain competitive versus newer stock, with potential value-add upside through interior upgrades and curb appeal. Within a 3-mile radius, household counts are projected to grow alongside incomes, expanding the renter pool and helping sustain occupancy for well-positioned properties, while low ownership costs in the area mean thoughtful unit finishes and service delivery are important to differentiate from entry-level ownership alternatives.
- Renter-heavy location supports depth of tenant demand and leasing stability
- Occupancy near national median with comparatively low rent-to-income aids retention
- 1973 vintage presents value-add pathways via targeted renovations
- 3-mile outlook shows growing households and incomes, expanding the renter pool
- Risks: below-median safety metrics and low ownership costs require sharper positioning