| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Best |
| Demographics | 55th | Good |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5900 Walnut Cir, Toledo, OH, 43615, US |
| Region / Metro | Toledo |
| Year of Construction | 1981 |
| Units | 66 |
| Transaction Date | 2008-12-18 |
| Transaction Price | $1,794,500 |
| Buyer | EMPIRIAN CKT LLC |
| Seller | BUSH CLOISTERS LLC |
5900 Walnut Cir Toledo 66-Unit Multifamily
Neighborhood occupancy is steady and renter demand is supported by a high share of renter-occupied units, according to WDSuite’s CRE market data. Household growth projected within a 3-mile radius points to a larger tenant base that can help sustain leasing momentum.
The property sits in an Inner Suburb of Toledo with a B+ neighborhood rating (ranked 78 out of 244 metro neighborhoods), indicating competitive fundamentals among local submarkets. Neighborhood occupancy is 94%, placing it in the top third nationally for stability, while renter-occupied housing represents a majority share at 56% — a high renter concentration that supports depth of demand for multifamily assets.
Livability is shaped by practical access rather than dense retail clusters. Restaurants are comparatively prevalent for the area (competitive by metro standards), while grocery, parks, cafes, and pharmacies are thinner locally, which suggests residents may rely on a broader trade area for some errands. Childcare availability trends strong for the neighborhood, a positive for working households and weekday traffic.
Within a 3-mile radius, population has been essentially flat in recent years, but forecasts call for meaningful increases in both population and households through the next five years. A larger household count typically translates to a larger renter pool and supports occupancy stability. Median incomes in the 3-mile area have been rising, and neighborhood rent-to-income levels sit near the national midpoint, suggesting manageable affordability pressure that can aid retention.
Vintage context: the asset was built in 1981, slightly older than the neighborhood average vintage (early 1980s). Investors should plan for targeted capital expenditures and potential value-add upgrades to interior finishes and building systems to strengthen competitive positioning against newer stock.
Safety indicators for the neighborhood track around the national middle overall. Compared with neighborhoods nationwide, recent violent and property crime readings sit in lower national percentiles, but both categories have shown notable year-over-year declines, indicating improving trend momentum.
Within the Toledo metro context, the area performs around average, and trend improvement is a constructive signal for resident retention and leasing stability. As always, investors should underwrite with current, property-level security measures and monitor ongoing local trends alongside metro benchmarks.
Proximity to established corporate employers underpins a stable commuter tenant base and supports lease retention. Nearby anchors include auto components, glass packaging, building materials, and energy refining headquarters.
- Dana Holding — auto parts (3.6 miles) — HQ
- Owens-Illinois — glass packaging (6.5 miles) — HQ
- Owens Corning — building materials (7.9 miles) — HQ
- Marathon Petroleum — energy refining (40.2 miles) — HQ
5900 Walnut Cir offers scale at 66 units with neighborhood fundamentals that favor renter demand. According to CRE market data from WDSuite, the surrounding neighborhood maintains solid occupancy and a high renter-occupied share, which supports depth of tenant demand. The 3-mile area shows rising incomes and a forecasted increase in households, pointing to a larger renter pool that can help sustain leasing and reduce downtime.
Built in 1981, the asset is slightly older than nearby stock, creating value-add potential through strategic renovations and systems upgrades. The neighborhood’s rent-to-income dynamics sit near the national midpoint, a setup that can support retention while allowing for measured rent optimization. Thinner grocery and park access locally suggests residents tap a wider trade area, which should be considered in amenity planning and marketing.
- Stable neighborhood occupancy and majority renter-occupied housing support demand depth
- Forecast growth in households within 3 miles expands the tenant base and supports leasing
- 1981 vintage provides value-add potential via interior and building-systems upgrades
- Rising area incomes and mid-range rent-to-income aid retention and pricing discipline
- Risks: mixed amenity density and improving-but-middling safety metrics warrant conservative underwriting