| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Fair |
| Demographics | 55th | Good |
| Amenities | 53rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5125 Secor Rd, Toledo, OH, 43623, US |
| Region / Metro | Toledo |
| Year of Construction | 1975 |
| Units | 60 |
| Transaction Date | 2006-05-05 |
| Transaction Price | $4,468,000 |
| Buyer | WASSEF PROPERTY MANAGEMENT LLC |
| Seller | SECOR CEDARS LTD |
5125 Secor Rd Toledo Multifamily Investment Opportunity
Neighborhood occupancy is solid and rents are relatively accessible, supporting steady tenant retention according to WDSuite’s CRE market data.
Situated in Toledo s inner suburb, the neighborhood ranks in the top quartile among 244 metro neighborhoods (A- rating), with occupancy in the neighborhood holding near the mid-90s. For investors, this points to durable leasing conditions rather than lease-up risk.
Local amenities skew practical: strong park and pharmacy access and a healthy concentration of restaurants, but limited cafes and grocery within the immediate neighborhood. School ratings trend lower, which can influence unit mix strategy and rent positioning for family-oriented demand.
Renter-occupied share of housing units in the neighborhood is roughly one-quarter, suggesting a tenant base that leans more toward owners locally; investors should underwrite a moderate but reliable renter pool and emphasize retention. Median contract rents are on the lower side for the metro, and the rent-to-income context indicates manageable affordability pressure a positive for renewals and occupancy stability.
Within a 3-mile radius, demographics show recent softness but forecasts indicate an increase in households alongside smaller average household sizes. That combination typically expands the renter pool and supports occupancy, even if population growth is uneven, based on CRE market data from WDSuite.
Compared with neighborhoods nationwide, safety indicators sit below the national median. However, recent year trends show meaningful declines in both violent and property offenses, according to WDSuite s CRE market data an improving backdrop that investors can monitor as part of risk management.
Proximity to corporate offices underpins workforce demand and commute convenience, notably from Dana Holding Corporation, Owens Corning, Dana, Dana Holding, and Owens-Illinois.
- Dana Holding Corporation corporate offices (4.5 miles)
- Owens Corning corporate offices (6.3 miles) HQ
- Dana corporate offices (10.4 miles)
- Dana Holding corporate offices (10.4 miles) HQ
- Owens-Illinois corporate offices (12.5 miles) HQ
This 60-unit asset offers a straightforward, defensible hold in a neighborhood with above-average occupancy and practical amenity access. Lower median rents and a favorable rent-to-income context support resident retention and limit downside volatility, while larger average unit sizes (~1,046 sf) can help sustain length of stay. Within 3 miles, forward-looking signals point to an increase in households and smaller household sizes, expanding the renter pool and supporting steady absorption, according to CRE market data from WDSuite.
Key considerations include a renter base that is thinner than highly urban submarkets, school ratings that may temper rent ceilings for family-heavy mix, and limited walkable cafes and grocery that can affect marketing to lifestyle seekers. Even so, the combination of stable occupancy, accessible rents, and proximity to established employers provides a balanced case for durable cash flows with selective value-add execution.
- Neighborhood occupancy and steady renter demand support income stability
- Lower median rents and manageable rent-to-income ratios aid renewals
- Spacious average unit sizes (~1,046 sf) can bolster retention
- Workforce proximity to major corporate offices underpins leasing
- Risks: softer school ratings, accessible homeownership options, and limited walkable cafes/grocery