| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Fair |
| Demographics | 35th | Poor |
| Amenities | 39th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5360 Secor Rd, Toledo, OH, 43623, US |
| Region / Metro | Toledo |
| Year of Construction | 1978 |
| Units | 42 |
| Transaction Date | 2005-09-09 |
| Transaction Price | $1,300,000 |
| Buyer | MCGREGOR MEADOWS LTD |
| Seller | MEADOWS MCGREGOR |
5360 Secor Rd Toledo Multifamily Investment Opportunity
Neighborhood occupancy has held in the low-90s with a moderate renter base, according to WDSuite’s CRE market data, suggesting steady tenant demand for a 42-unit asset at this address. Positioned in an inner-suburban pocket of Toledo, the thesis centers on durable leasing supported by proximity to major employers and everyday amenities.
This inner-suburban location combines everyday convenience with balanced leasing fundamentals for investors. Neighborhood occupancy is around the low-90s and has trended upward in recent years, indicating stable absorption rather than late-cycle softness. Median rents in the area remain accessible relative to local incomes, which can support retention and measured pricing power rather than aggressive lease-up assumptions.
Amenity access is mixed. Grocery options are strong—competitive among Toledo neighborhoods (ranked 12 out of 244), a top-quartile outcome nationally. However, parks, cafes, and pharmacies are limited within the immediate area, so resident appeal leans more on drivability and proximity to retail corridors than on walkability. Average school ratings in the neighborhood track below national norms, which may matter for family renters and should be reflected in leasing strategies.
The property’s 1978 vintage is newer than the neighborhood’s average construction year (1959). That positioning can help against older local stock, while still warranting capital planning for systems modernization and selective upgrades to maintain competitiveness in turns and renewals.
Renter concentration is in the mid-30% range for housing units, which is above the national median and competitive among Toledo submarkets, signaling a meaningful tenant base for multifamily product. Within a 3-mile radius, recent population counts have been broadly stable, with forecasts pointing to incremental population growth and a notable increase in household counts alongside smaller average household sizes—factors that can expand the renter pool and support occupancy stability over the medium term. These dynamics are based on commercial real estate analysis from WDSuite and suggest demand depth for well-managed, mid-market units.
Safety indicators are mixed when benchmarked nationally. Overall crime levels track near the national midpoint, while violent-offense measures sit below national safety norms. Notably, both violent and property offense rates show year-over-year improvement, with property incidents declining more sharply—an encouraging directional trend. These are neighborhood-wide readings rather than property-specific conditions and should be incorporated into underwriting via prudent security measures and tenant-screening practices.
- Dana Holding Corporation — corporate offices (4.5 miles)
- Owens Corning — corporate offices (6.5 miles) — HQ
- Dana — corporate offices (10.7 miles)
- Dana Holding — corporate offices (10.7 miles) — HQ
- Owens-Illinois — corporate offices (12.9 miles) — HQ
Positioned in an inner-suburban node with solid grocery access and commuter convenience, the asset benefits from a renter base that is meaningful for the metro and neighborhood occupancy that has held around the low-90s. According to CRE market data from WDSuite, rent levels remain manageable relative to incomes, which can support renewal probability and steady collections rather than price-driven turnover.
Built in 1978, the property is newer than much of the surrounding stock, offering a competitive edge versus older assets while still presenting value-add potential through targeted interior updates and systems improvements. Demographic trends aggregated within a 3-mile radius point to modest population growth and a larger household count over the outlook period—conditions that can expand the tenant base and support durable leasing.
- Stable neighborhood occupancy and renter depth support consistent leasing
- 1978 vintage offers competitive positioning with clear modernization upside
- Accessible rents relative to incomes aid retention and collections
- Proximity to major employers underpins workforce housing demand
- Risks: limited walkable amenities and below-average school ratings may temper family renter appeal