| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Fair |
| Demographics | 55th | Good |
| Amenities | 53rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5635 Secor Rd, Toledo, OH, 43623, US |
| Region / Metro | Toledo |
| Year of Construction | 1976 |
| Units | 60 |
| Transaction Date | 2019-06-12 |
| Transaction Price | $3,973,000 |
| Buyer | ALEXIS SECOR APARTMENTS LTD |
| Seller | R J LLOYD & CO LTD |
5635 Secor Rd Toledo Multifamily Investment Opportunity
Neighborhood occupancy trends are competitive within the Toledo metro and support steady leasing, according to WDSuite’s CRE market data. Positioned in an inner-suburb setting with stable renter demand and manageable rent-to-income levels, the asset offers pragmatic long-term holding potential.
This inner-suburb location in Toledo balances everyday convenience with stable rental fundamentals. Restaurants, parks, and pharmacies are more available than in many areas nationally, while cafes and full-service grocery options are thinner nearby. For investors, this mix suggests practical livability for tenants alongside room for incremental amenity-led value-add strategies.
Neighborhood occupancy is strong (ranked 81 of 244 metro neighborhoods), placing it competitive among Toledo neighborhoods and above national norms for similar areas. Renter-occupied housing comprises roughly one-quarter of local units, indicating a defined but not saturated renter base that can support consistent leasing without relying on heavy concessions.
Within a 3-mile radius, demographics show a broad age spread and stable overall population with modest shifts in household composition. Household incomes have risen over recent periods, and projections indicate an increase in households alongside smaller average household size—factors that typically expand the renter pool and help support occupancy stability and renewal rates.
Home values in the immediate neighborhood are relatively accessible versus national benchmarks, which can create some competition with ownership. At the same time, median contract rents remain modest and rent-to-income ratios are favorable, limiting affordability pressure and supporting retention. School ratings trend on the lower side, which may affect family-driven demand, but the area’s convenience and employment access help sustain renter interest.
Safety indicators place the neighborhood near the middle of the Toledo distribution, while landing below the national median. Notably, estimated rates for both property and violent offenses have declined year over year, with improvement outpacing many peer areas nationwide. For underwriting, this suggests risk that is manageable with routine, property-level measures and continued monitoring of local trends.
The area draws on a diverse corporate base that supports renter demand through steady white- and blue-collar employment and reasonable commutes. Key nearby employers include Dana, Owens Corning, and Owens-Illinois, reflecting durable industrial and materials corporate offices.
- Dana Holding Corporation — corporate offices (4.6 miles)
- Owens Corning — corporate offices (6.8 miles) — HQ
- Dana — corporate offices (11.0 miles)
- Dana Holding — corporate offices (11.0 miles) — HQ
- Owens-Illinois — corporate offices (13.2 miles) — HQ
The property’s Toledo inner-suburb setting benefits from competitive neighborhood occupancy and a defined renter base, supporting cash flow durability. Modest rents relative to household incomes translate to limited affordability pressure, while an improving safety trend and accessible daily amenities underpin retention. Based on CRE market data from WDSuite, the neighborhood performs above the metro median on several livability factors, with restaurants, parks, and pharmacies comparatively accessible even as grocery and cafe density remains thinner.
Demographics aggregated within a 3-mile radius point to an expanding household count and smaller household sizes over the outlook period, which can enlarge the tenant base for 1–2 bedroom units and support occupancy stability. Lower relative home values may create some competition with ownership, but they also tend to keep rent-to-income ratios favorable, aiding lease renewals and pricing resilience.
- Competitive neighborhood occupancy supports steady leasing and renewals
- Favorable rent-to-income dynamics reinforce retention and reduce concession risk
- 3-mile demographics point to more households and smaller sizes, broadening the renter pool
- Proximity to established corporate offices supports employment-driven demand
- Risks: lower school ratings and accessible homeownership can compete with renting; grocery/cafe options are thinner