| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 48th | Fair |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6606 Dorr St, Toledo, OH, 43615, US |
| Region / Metro | Toledo |
| Year of Construction | 1987 |
| Units | 84 |
| Transaction Date | 2008-02-29 |
| Transaction Price | $11,000,000 |
| Buyer | TALMADGE MANOR INC |
| Seller | GIANT OAKS LLC |
6606 Dorr St Toledo Multifamily Investment Opportunity
Neighborhood fundamentals point to stable renter demand and above-median occupancy for the area, according to WDSuite’s CRE market data, supporting a durable income profile for a well-managed 84-unit asset.
Located in Toledo’s inner-suburban fabric, the property sits in a neighborhood rated A- and ranked 47 out of 244 locally, placing it in the top quartile among metro neighborhoods for overall balance of housing, demographics, and amenities based on WDSuite’s CRE market data. Area occupancy is above the metro median, supporting income stability for multifamily operators.
Everyday convenience is solid: restaurant density is competitive among Toledo neighborhoods (rank 83 of 244), and grocery access is similarly competitive (rank 50 of 244). Café and park presence are limited (both ranked 244 of 244), and pharmacies are sparse, so on-site offerings and resident services can help differentiate the asset.
Renter-occupied housing comprises 57.7% of units locally (93rd percentile nationally), indicating a deep tenant base and consistent leasing velocity. Median contract rents are moderate relative to local incomes (rent-to-income near 0.15), which can aid retention while allowing disciplined revenue management.
Demographics aggregated within a 3-mile radius show recent population and household growth, with households up an estimated 4% over five years and projections calling for further expansion by 2028. This points to a larger tenant base over time and supports occupancy stability as new households seek rental options.
The building’s 1987 vintage is slightly newer than the neighborhood’s average construction year (1984). That positioning can provide a competitive edge versus older stock, while still warranting targeted updates to interiors and building systems to enhance rentability and reduce near-term CapEx surprises.
Safety indicators are mixed relative to the metro and nation. The neighborhood’s crime rank sits in the lower tier of the Toledo metro (rank 207 out of 244), indicating higher reported crime than many local peers. Nationally, safety percentiles are below average. Investors should underwrite with prudent security and operations planning and compare insurance/pricing assumptions to recent comps.
Trend-wise, property offenses have declined materially year over year (improvement reflected by a stronger reduction percentile nationally), while violent offense measures remain an area to monitor. Framing risk in comparative terms and emphasizing lighting, access control, and resident engagement can support leasing and retention.
Proximity to major employers supports blue- and white-collar renter demand and reasonable commute times, with a concentration in automotive, building materials, packaging, energy, and life sciences.
- Dana Holding — automotive parts (6.0 miles) — HQ
- Owens Corning — building materials (8.6 miles) — HQ
- Owens-Illinois — glass packaging (9.2 miles) — HQ
- Marathon Petroleum — energy (42.8 miles) — HQ
- Thermo Fisher Scientific — life sciences (43.5 miles)
6606 Dorr St offers investors an inner-suburban Toledo location with above-median neighborhood occupancy, a deep renter pool, and everyday retail access that supports leasing durability. The local renter-occupied share (57.7%) and moderate rent-to-income dynamics point to a broad tenant base and manageable affordability pressure, which can translate into steadier retention for well-operated assets. The 1987 vintage is slightly newer than the neighborhood average, suggesting competitive positioning versus older stock while leaving room for targeted value-add through interior upgrades and systems modernization. These factors align with stable income fundamentals observed in comparable submarkets.
Looking forward, demographics within a 3-mile radius indicate population growth and an increase in households, expanding the renter pool and supporting occupancy stability over the medium term. According to CRE market data from WDSuite, the neighborhood ranks in the top quartile locally for overall balance, reinforcing its role as a durable workforce housing location while acknowledging amenity gaps (parks, cafés, pharmacies) that operators can offset with on-site services and convenience features.
- Above-median neighborhood occupancy supports cash flow consistency
- High renter-occupied share indicates depth of tenant demand
- 1987 vintage allows targeted value-add to enhance competitiveness
- 3-mile demographic growth signals expanding renter pool
- Risks: below-average safety rankings and limited park/café/pharmacy access require proactive operations