| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Good |
| Demographics | 51st | Good |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5120 Suder Ave, Toledo, OH, 43611, US |
| Region / Metro | Toledo |
| Year of Construction | 1979 |
| Units | 26 |
| Transaction Date | 2006-04-26 |
| Transaction Price | $1,615,000 |
| Buyer | SCHAICH TERRY L |
| Seller | GREENWICH PLAZA LLC |
5120 Suder Ave Toledo Multifamily Investment
Neighborhood occupancy trends and manageable rent-to-income levels suggest durable renter demand, according to WDSuite’s CRE market data. Focused operations and selective upgrades can position this 1979 asset to compete effectively in an inner-suburban location.
The property sits in an Inner Suburb of Toledo with a B+ neighborhood rating, where neighborhood occupancy is in the top quartile among 244 Toledo neighborhoods and above the national median. Median rents in the neighborhood track near national norms and have shown steady growth over the past five years, supporting pricing power without overextending affordability.
Everyday conveniences are accessible: grocery and pharmacy availability rank in the top quartile among 244 metro neighborhoods, while restaurants, cafes, and park density are limited within the immediate neighborhood. School ratings trend below national averages, which can influence family-driven demand but is often less determinative for smaller units or workforce-focused properties.
Within a 3-mile radius, the renter-occupied share is roughly one-third of housing units, indicating a stable tenant base for multifamily. Population has been roughly flat in recent years, but projections point to an increase in households and smaller household sizes by 2028, which typically expands the renter pool and helps support occupancy stability. Household incomes have risen, providing some cushion against rent growth and aiding retention.
Ownership costs in the neighborhood are relatively accessible compared with many U.S. areas, which can create some competition with entry-level ownership. Even so, rent-to-income levels are favorable (above the 75th national percentile for affordability), and, based on CRE market data from WDSuite, occupancy remains resilient—key for managing turnover and sustaining cash flow.
Safety indicators for the neighborhood sit near the national midpoint overall, with property crime levels modestly above national averages and violent incidents below the national median by rate. Year over year, both property and violent offense rates have declined, with the pace of improvement competitive among Toledo neighborhoods. These are neighborhood-level indicators rather than property-specific conditions.
Within the metro context (244 neighborhoods), recent improvements place the area above the metro median for positive trend momentum, though absolute safety levels are still mixed compared with neighborhoods nationwide. Investors should underwrite to sustained, incremental improvement rather than assuming rapid shifts.
The area draws from a diversified employment base anchored by advanced manufacturing and building materials, supporting workforce housing demand and commute convenience for renters. The list below highlights nearby corporate offices that influence leasing stability in this submarket.
- Dana Holding Corporation — automotive components (2.0 miles)
- Owens Corning — building materials (4.9 miles) — HQ
- Dana — automotive components (14.2 miles)
- Dana Holding — automotive components (14.2 miles) — HQ
- Owens-Illinois — glass packaging (14.9 miles) — HQ
Built in 1979, this 26‑unit asset offers potential for targeted value‑add through unit refreshes and systems modernization, with capital planning calibrated to late‑1970s construction. Neighborhood occupancy is strong relative to both the metro and nation, and rent-to-income metrics indicate manageable affordability—favorable for retention and rent optimization without overextending residents. According to CRE market data from WDSuite, the surrounding neighborhood’s grocery and pharmacy access is a relative strength, while limited parks and dining density suggest the asset competes primarily on convenience and value.
Demographic data within a 3‑mile radius points to steady renter demand: a renter-occupied share near one-third of units, rising incomes, and forecasts for more households with smaller sizes through 2028—conditions that typically expand the tenant base and support occupancy stability. Ownership costs are comparatively accessible for the region, which may create some competition with entry-level ownership; underwriting should balance this against stable neighborhood occupancy and the asset’s value‑add levers.
- Strong neighborhood occupancy and favorable rent-to-income support retention
- 1979 vintage allows targeted value-add and systems updates
- Household growth and smaller sizes (3-mile radius) expand renter pool
- Proximity to major employers supports stable workforce housing demand
- Risks: below-average school ratings and limited nearby dining/parks; accessible ownership may compete with rentals