| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Best |
| Demographics | 55th | Good |
| Amenities | 16th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6316 W Bancroft St, Toledo, OH, 43615, US |
| Region / Metro | Toledo |
| Year of Construction | 1979 |
| Units | 120 |
| Transaction Date | 1993-07-15 |
| Transaction Price | $2,987,500 |
| Buyer | --- |
| Seller | --- |
6316 W Bancroft St Toledo Apartment Investment
Neighborhood data points to a durable renter base and steady occupancy at the submarket level, according to WDSuite’s CRE market data, with rent levels that support retention rather than churn.
Positioned in Toledo’s Inner Suburb, the immediate neighborhood carries a B+ rating and ranks 68 out of 244 locally, making it competitive among Toledo neighborhoods. Grocery and pharmacy access are strengths (both in the top quartile nationally), while cafes, restaurants, and parks are limited nearby—an operational consideration for resident experience and marketing.
At the neighborhood level, renter-occupied housing accounts for roughly 44.8% of units, which is top quartile nationally and signals a meaningful tenant base for multifamily. The neighborhood occupancy rate is around 90%, indicating generally stable leasing conditions at this scale, though property performance will depend on asset quality and management.
Demographics within a 3-mile radius show recent population and household growth, with projections indicating further increases in households—supportive of renter pool expansion and lease-up resilience. Rising incomes alongside gradually increasing contract rents suggest room for measured revenue management without overextending affordability.
The property’s 1979 construction is slightly newer than the neighborhood’s average vintage (1977). For investors, that positioning can remain competitive versus older stock, though common-area refreshes, in-unit updates, and systems modernization may still be prudent to sustain occupancy and rent premiums.
Safety indicators are mixed but trending better. The area sits roughly mid-pack within the Toledo metro (106 out of 244 neighborhoods), and its national standing is modestly above the median. Year over year, violent incidents have declined notably, placing the neighborhood in the top quartile nationally for improvement, while property-related incidents have also improved at a pace slightly above national norms.
Investors should interpret these as directional signals rather than block-level guarantees; continued monitoring of local trends and property-level security measures can help support resident retention and asset performance.
Proximity to established employers supports workforce housing demand and commute convenience, including Dana, Owens Corning, Owens-Illinois, Thermo Fisher Scientific, and Marathon Petroleum.
- Dana — automotive supplier (6.6 miles) — HQ
- Owens Corning — building materials (8.3 miles) — HQ
- Owens-Illinois — glass packaging (9.7 miles) — HQ
- Thermo Fisher Scientific — life sciences (42.9 miles)
- Marathon Petroleum — energy (43.4 miles) — HQ
This 120-unit asset offers scale in a neighborhood with a meaningful renter concentration and steady occupancy at the local level. Within a 3-mile radius, population and household growth—paired with rising incomes—point to a larger tenant base over time, supporting leasing stability and measured rent optimization. Based on CRE market data from WDSuite, the area’s strong grocery/pharmacy access and improving safety trend further reinforce day-to-day livability advantages that can aid retention.
Built in 1979, the property is slightly newer than the neighborhood’s average vintage. That positioning can remain competitive against older product, and targeted value-add—interiors, common areas, and building systems—may enhance NOI while keeping rent-to-income in a range that sustains retention. Limited nearby lifestyle amenities (cafes/parks) and moderate metro safety standing are watch items, suggesting the thesis should emphasize operations, finishes, and resident services.
- Scale and location back a deep tenant base with neighborhood renter concentration and stable occupancy
- 3-mile growth and rising incomes support renter pool expansion and pricing power without overreliance on concessions
- 1979 vintage enables targeted value-add to drive NOI while maintaining competitive positioning versus older stock
- Strong grocery/pharmacy access aids day-to-day livability and lease retention
- Risks: fewer lifestyle amenities nearby and mid-metro safety standing require active management and resident experience initiatives