| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Good |
| Demographics | 29th | Poor |
| Amenities | 19th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4404 Airport Hwy, Toledo, OH, 43615, US |
| Region / Metro | Toledo |
| Year of Construction | 1981 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4404 Airport Hwy Toledo 72-Unit Multifamily Investment
Neighborhood renter concentration is high and occupancy has been steady, supporting durable tenant demand near key employers, according to WDSuite s CRE market data. Pricing sits toward the lower end of the metro, which can aid lease-up while limiting near-term rent lift.
Situated in Toledo s inner suburb corridor, the property benefits from a predominantly renter-driven neighborhood: approximately 70.8% of housing units are renter-occupied. For investors, this indicates a broad tenant base and potential leasing resilience. Neighborhood occupancy is around 93% and sits above the national middle of the pack, per WDSuite s commercial real estate analysis, suggesting stable absorption across comparable assets in the area.
Vintage positioning matters: the community was built in 1981, slightly newer than the neighborhood s average stock from the late 1970s. That can temper immediate capital needs versus older assets while still leaving room for system upgrades and targeted renovations to improve competitive standing.
Local costs favor renters. Median contract rents in the neighborhood trend below many U.S. peer areas, and the median home value is comparatively low for the region. This mix typically supports occupancy but can cap pricing power if entry-level ownership remains attainable. Operators should leverage value-add differentiation rather than rely solely on broad market rent growth.
Within a 3-mile radius, recent years show a modest decline in population alongside a small increase in households, pointing to smaller household sizes and steady demand for rental units. Forecasts indicate notable population growth and a sizeable increase in households by 2028, which would expand the renter pool and support occupancy stability if realized, based on CRE market data from WDSuite.
Safety conditions in the surrounding neighborhood trail regional and national averages. The area ranks in the lower quartile for crime among 244 Toledo metro neighborhoods, indicating comparatively higher incident rates. Nationally, it falls below the median for safety.
Trend signals are mixed but improving: recent data show a meaningful year-over-year decline in violent offenses, placing the area in a stronger improvement tier nationally, while property crime has eased at roughly a mid-pack national pace. Investors typically account for this with security features, lighting, and active management to support tenant retention.
Proximity to major employers underpins workforce housing demand and commute convenience, notably across auto components and materials manufacturers. The nearby base includes Dana, Dana Holding, Owens Corning, Owens-Illinois, and Dana Holding Corporation.
- Dana auto components (4.4 miles)
- Dana Holding auto components (4.4 miles) HQ
- Owens Corning building materials (6.1 miles) HQ
- Owens-Illinois glass packaging (6.4 miles) HQ
- Dana Holding Corporation auto components (8.2 miles)
This 72-unit, 1981-vintage asset offers a pragmatic value-add path in a renter-heavy neighborhood where occupancy trends have been resilient. Median rents track below many national peers, helping sustain demand, while the property s slightly newer vintage versus the neighborhood average suggests moderate capex with targeted modernization to enhance competitive position.
Within a 3-mile radius, households have inched higher even as population edged down, and forward projections point to population growth and a larger household base, supporting a broader tenant pool over time. According to CRE market data from WDSuite, neighborhood occupancy sits above national mid-range levels, but low ownership costs nearby may temper rent growth, making operational execution and renovation strategy the key levers.
- Renter-heavy neighborhood and above-median occupancy support stable leasing
- 1981 vintage enables targeted value-add and systems upgrades
- Employer proximity (auto and materials) underpins workforce demand
- Household growth projections within 3 miles expand the renter pool
- Risks: below-average safety, lower incomes, and homeownership competition may limit pricing power