| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Best |
| Demographics | 55th | Good |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5862 Firethorne Dr, Toledo, OH, 43615, US |
| Region / Metro | Toledo |
| Year of Construction | 1988 |
| Units | 56 |
| Transaction Date | 2008-12-18 |
| Transaction Price | $1,794,500 |
| Buyer | EMPIRIAN CKT LLC |
| Seller | BUSH CLOISTERS LLC |
5862 Firethorne Dr Toledo Multifamily Investment
Neighborhood occupancy is above the metro median with a deep renter base, according to WDSuite’s CRE market data, supporting stable leasing fundamentals. This inner-suburb location in Toledo offers steady renter demand with pragmatic rent levels relative to incomes.
The property sits in an Inner Suburb of Toledo rated B+ among 244 metro neighborhoods, indicating balanced fundamentals rather than a purely cyclical profile. Neighborhood occupancy trends are above the metro median and in the upper half nationally, which supports baseline stability for a 56‑unit asset. Renter-occupied housing accounts for a majority of neighborhood units, placing the area in the top quartile nationally for renter concentration and signaling a sizable tenant base for multifamily.
Vintage is 1988, slightly newer than the neighborhood’s average construction year (1983). Relative to older local stock, this positioning can improve competitive standing and reduce near-term capital needs; however, investors should still plan for system modernization and common-area refresh to sustain leasing velocity over a longer hold.
Local livability skews more auto-oriented: restaurants are comparatively present versus national norms, while everyday retail like groceries, pharmacies, and parks are thinner within the immediate neighborhood. For investors, that mix suggests resident convenience by car rather than walkable retail, which can affect marketing and amenity strategy.
Within a 3‑mile radius, demographics are steady with modest recent population change and a slight increase in households, expanding the local renter pool. Projections through 2028 point to notable growth in households and rising incomes, which should support rent levels and occupancy. Median contract rent in the 3‑mile area has risen over the past five years and is projected to continue growing, per commercial real estate analysis from WDSuite, while rent-to-income ratios at the neighborhood level indicate manageable affordability pressure that can aid retention.
Safety indicators are mixed and should be evaluated in context. Compared with the 244 neighborhoods in the Toledo metro, the area sits around the middle of the pack on overall crime. Nationally, violent and property incident rates track below the safest percentiles, but recent one‑year trends show meaningful declines in both categories, suggesting improvement momentum. Investors should underwrite with conservative assumptions while noting the directionality of change.
Proximity to established corporate employers supports a broad commuter tenant base and can aid retention. Key anchors within a regional commute include Dana Holding, Owens‑Illinois, Owens Corning, and Marathon Petroleum.
- Dana Holding — auto parts (3.8 miles) — HQ
- Owens-Illinois — packaging & glass (6.7 miles) — HQ
- Owens Corning — building materials (7.9 miles) — HQ
- Marathon Petroleum — energy (40.4 miles) — HQ
5862 Firethorne Dr offers a 56‑unit, 1988‑vintage profile in a B+ Inner Suburb with neighborhood occupancy above the metro median and a nationally strong renter concentration. This combination supports steady demand and leasing resilience relative to older local stock, while still leaving room for targeted refresh to sustain competitive positioning.
Within a 3‑mile radius, households have inched upward and are projected to expand meaningfully by 2028 alongside income gains, pointing to a larger tenant base and support for rent growth. According to CRE market data from WDSuite, neighborhood rents and occupancy sit in the stronger half of national benchmarks, while the homeownership market remains relatively accessible—an environment that can temper pricing power but still sustain demand for well‑managed multifamily.
- Above-metro-median neighborhood occupancy supports baseline stability
- 1988 vintage offers relative competitiveness with value‑add upside via modernization
- Growing 3‑mile household base and rising incomes expand the renter pool
- Strong renter concentration in the neighborhood deepens tenant demand
- Risks: car‑oriented retail mix and middling safety levels, though trends are improving