| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 29th | Poor |
| Demographics | 35th | Poor |
| Amenities | 29th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4431 Hill Ave, Toledo, OH, 43615, US |
| Region / Metro | Toledo |
| Year of Construction | 1978 |
| Units | 51 |
| Transaction Date | 2020-12-22 |
| Transaction Price | $1,200,000 |
| Buyer | TOLEDO HOMES FOR RENT LLC |
| Seller | MUTUAL DEVELOPMENT CO INC |
4431 Hill Ave, Toledo OH Multifamily Investment
According to WDSuite’s CRE market data, renter concentration and improving neighborhood occupancy trends point to a durable tenant base with room for operational upside.
Situated in an Inner Suburb of Toledo with a C+ neighborhood rating, the area around 4431 Hill Ave skews rental, with renter-occupied housing representing a top-quartile share among 244 Toledo neighborhoods. For multifamily owners, this depth of renter demand can support leasing velocity and day-to-day occupancy management.
Neighborhood occupancy sits below the metro median but has improved over the past five years, suggesting stabilization off a weaker base. Median asking rents in the neighborhood track below national medians, which can help sustain absorption while limiting pricing power in softer periods.
Local amenity density is mixed: cafes, groceries, and parks are limited within the immediate neighborhood, while childcare and pharmacies are comparatively abundant versus national norms. For investors, this combination points to car-oriented living with essential services nearby, and potential long-term upside if retail nodes continue to infill.
Within a 3-mile radius, households have grown modestly even as population edged down, indicating smaller household sizes and a stable pool of renters. Forecasts call for increases in both population and total households through 2028, expanding the prospective tenant base and supporting occupancy resilience.
The asset’s 1978 vintage is slightly newer than the neighborhood average construction year, which can be competitive versus older stock; however, investors should still plan for systems modernization and targeted renovations to meet today’s renter expectations.
Home values in the neighborhood are low by national standards. This creates a more accessible ownership market that can compete with entry-level rentals, reinforcing the importance of value positioning, unit upgrades, and resident experience to drive retention.
WDSuite’s data places the neighborhood around the metro median for crime (127 out of 244), translating to roughly average conditions within Toledo and near the national middle of the pack. For multifamily operators, this typically supports mainstream renter demand rather than niche positioning.
Recent trends are constructive: both property and violent offense rates have declined year over year, indicating a positive direction of travel. While safety can vary block-to-block and should be validated at the site level, the current trajectory suggests gradually improving conditions relative to prior periods.
Proximity to Toledo’s corporate offices underpins workforce housing demand and commute convenience, with nearby employment centered on Dana and Owens corporate campuses.
- Dana — corporate offices (5.4 miles)
- Dana Holding — corporate offices (5.4 miles) — HQ
- Owens Corning — corporate offices (5.8 miles) — HQ
- Dana Holding Corporation — corporate offices (7.4 miles)
- Owens-Illinois — corporate offices (7.6 miles) — HQ
Built in 1978, the property is slightly newer than the neighborhood average, offering a competitive edge versus older local stock while still presenting opportunities for systems updates and value-add renovations. Based on CRE market data from WDSuite, neighborhood occupancy has trended upward from a weaker base, and renter concentration is comparatively high for the metro — both supportive of steady tenant demand.
Within a 3-mile radius, forecasts point to population growth and a sizable increase in households by 2028, expanding the renter pool and supporting occupancy stability. Counterbalancing factors include a high rent-to-income environment and a low-cost ownership market, which can temper pricing power and elevate retention risk without careful lease management and amenity positioning.
- Renter concentration supports depth of demand and leasing stability
- Upward occupancy trend offers operational upside from a low base
- 1978 vintage enables targeted value-add and systems modernization
- 3-mile forecasts indicate a larger tenant base by 2028
- Risk: elevated rent-to-income and accessible ownership may constrain pricing power and retention