| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Best |
| Demographics | 60th | Good |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4824 Lerado Rd, Toledo, OH, 43623, US |
| Region / Metro | Toledo |
| Year of Construction | 1977 |
| Units | 54 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4824 Lerado Rd Toledo Multifamily Investment Opportunity
Positioned in an inner-suburb pocket of Toledo with competitive neighborhood fundamentals, this 54-unit asset benefits from steady renter demand and accessible price points, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb neighborhood rated A and ranked 15th of 244 within the Toledo metro — top quartile among metro neighborhoods. Local amenities are a clear strength: restaurants and daily needs score well above national norms, with strong coverage of groceries, pharmacies, and cafés supporting resident convenience and leasing appeal. Park access is limited in the immediate area, so private or nearby programmed open space can help offset that gap for tenants.
Neighborhood rents trend below national medians (neighborhood contract rents sit in lower national percentiles), which supports value positioning and can aid retention while still allowing measured rent growth as units are improved. Neighborhood occupancy is closer to the national mid-range, suggesting operators should prioritize leasing execution and renewal management to sustain stability versus relying solely on market lift.
Renter concentration is meaningful: approximately 35.9% of housing units in the neighborhood are renter-occupied (higher than many U.S. areas), indicating a solid tenant base for multifamily. At the same time, the local homeownership market reflects mid-range home values and value-to-income dynamics, which generally sustains reliance on rental housing without unduly constraining mobility — a setup that can support pricing power on renovated product while maintaining depth of demand.
Within a 3-mile radius, demographic data indicate a stable population recently, with projections calling for population and household growth over the next five years. Rising median incomes and an expanding household count point to a larger tenant base and improved capacity to absorb modest rent increases, reinforcing occupancy stability for well-managed communities.
Schools in the broader area rate below national averages, which is a consideration for family-oriented leasing. For workforce and lifestyle renters, however, the dense retail and service mix nearby often carries more weight in day-to-day livability and convenience.
Safety indicators for the neighborhood are mixed but improving. Overall crime trends around the metro median (rank near the midpoint among 244 Toledo neighborhoods), and the area sits slightly above the national middle in comparative safety. According to WDSuite’s CRE market data, estimated violent and property offense rates have declined year over year, with violent offense showing a notable downward move. For investors, the trajectory is constructive; continued monitoring and standard security measures can help sustain leasing confidence.
Nearby employment is anchored by manufacturing and building materials headquarters alongside life sciences, supporting workforce housing demand and commute convenience for residents. The list below highlights key employers within commuting distance that can underpin leasing and retention.
- Dana Holding Corporation — auto components (6.2 miles)
- Owens Corning — building materials (7.4 miles) — HQ
- Dana — auto components (9.3 miles)
- Owens-Illinois — glass packaging (11.9 miles) — HQ
- Thermo Fisher Scientific — life sciences (40.5 miles)
This 54-unit community offers a practical combination of renter demand depth, amenity-rich surroundings, and value positioning relative to national rent levels. The neighborhood ranks in the top quartile among 244 Toledo metro neighborhoods and features strong access to daily needs and dining, which supports leasing velocity and renewals. Home values sit in a mid-range context, while a meaningful share of renter-occupied housing units points to a dependable tenant base.
Within a 3-mile radius, projections indicate population growth and a sizable increase in households over the next five years, suggesting renter pool expansion and support for occupancy stability. Based on commercial real estate analysis drawn from WDSuite’s CRE market data, operators who execute targeted interior upgrades and disciplined lease management can capture measured rent gains without overextending affordability.
- Top-quartile neighborhood in Toledo with strong retail and service access supporting tenant convenience
- Renter-occupied share indicates solid demand depth for multifamily and renewal traction
- 3-mile forecasts show population and household growth, reinforcing occupancy stability
- Value positioning vs. national rents creates room for ROI on targeted renovations
- Risks: limited park access, school ratings below national averages, and occupancy nearer the national mid-range require attentive leasing and asset management