| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Best |
| Demographics | 54th | Good |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5560 Heatherdowns Blvd, Toledo, OH, 43614, US |
| Region / Metro | Toledo |
| Year of Construction | 1972 |
| Units | 27 |
| Transaction Date | 1998-08-04 |
| Transaction Price | $870,000 |
| Buyer | WELCH KEVIN A |
| Seller | FAY JEFFREY P |
5560 Heatherdowns Blvd Toledo Multifamily Investment
Neighborhood-level occupancy remains elevated and the renter-occupied share is high, according to WDSuite’s CRE market data, indicating steady tenant demand around this asset. Investors should focus on retention and pricing discipline as affordability is manageable and local rental rates remain moderate for the Toledo market.
Located in an inner-suburb pocket of Toledo, the property benefits from renter-driven housing dynamics at the neighborhood level. The neighborhood s occupancy is strong (96.5%), which is top quartile nationally, and the share of housing units that are renter-occupied is elevated at 74.4%, signaling a deep tenant base and generally supportive leasing fundamentals. Based on CRE market data from WDSuite, these are neighborhood metrics, not property-specific performance.
Daily needs are reasonably met: grocery and pharmacy access rank competitively among 244 Toledo neighborhoods, while restaurants are present though cafes and parks are limited. This mix supports workforce renters who prioritize convenience and value, with fewer lifestyle amenities compared with top-tier urban nodes. Average household size in the neighborhood skews small, which can favor 1–2 bedroom demand; the property s larger average unit size may appeal to downsizers or households seeking additional space.
Home values in the surrounding area are lower relative to national norms, which can increase competition from ownership options. For multifamily operators, this typically argues for careful rent positioning and service differentiation to sustain lease-up velocity and renewals. At the same time, a moderate rent-to-income backdrop (neighborhood metric) supports retention and occupancy stability, limiting downside volatility in softer macro periods.
Vintage context matters: much of the neighborhood s housing stock dates to the 1970s, and this property s 1972 construction is slightly older than the local average. That suggests ongoing capital planning and selective renovations can be accretive, with potential value-add upside through interior modernization and operational improvements that enhance competitiveness versus nearby legacy stock.
Safety trends should be evaluated with a comparative lens. The neighborhood sits below the national median for safety, and relative to the Toledo metro it performs below the metro average among 244 neighborhoods. However, property crime estimates have improved year over year, with notable declines indicating a recent downward trend in non-violent incidents. These figures are neighborhood-level indicators and should be paired with on-the-ground diligence and recent comps.
Proximity to established corporate employers underpins renter demand, supporting commute convenience and weekday occupancy. Nearby anchors include Dana, Dana Holding, Owens-Illinois, Owens Corning, and Dana Holding Corporation.
- Dana 4 D automotive components (2.1 miles)
- Dana Holding D automotive components (2.2 miles) D HQ
- Owens-Illinois D glass packaging (4.9 miles) D HQ
- Owens Corning D building materials (8.0 miles) D HQ
- Dana Holding Corporation D automotive components (10.4 miles)
This 27-unit, 1972-vintage asset sits in a Toledo inner-suburb with durable renter demand, evidenced by strong neighborhood occupancy and a high share of renter-occupied housing units. According to commercial real estate analysis from WDSuite, the area maintains steady leasing fundamentals while offering room for value creation via targeted renovations and operational execution.
Within a 3-mile radius, projections indicate household growth alongside rising incomes and rents, expanding the local tenant base and supporting occupancy stability. Lower local home values may create some competition from ownership alternatives, but a moderate rent-to-income environment supports retention if operators emphasize service quality and right-size rent increases.
- Strong neighborhood occupancy and deep renter concentration support stable leasing
- 1972 vintage offers clear value-add pathways via interior updates and modernization
- 3-mile forecasts show household and income growth, expanding the renter pool
- Proximity to established corporate anchors underpins workforce demand and retention
- Risk: more accessible ownership options require disciplined rent strategy and amenity execution