| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 901 S Byrne Rd, Toledo, OH, 43609, US |
| Region / Metro | Toledo |
| Year of Construction | 1978 |
| Units | 55 |
| Transaction Date | 2005-07-19 |
| Transaction Price | $4,548,600 |
| Buyer | TOLEDO PROPERTIES OWNER LLC |
| Seller | TOLEDO PROPERTIES LLC |
901 S Byrne Rd Toledo 55-Unit Multifamily
Neighborhood occupancy is about 94% with a high renter-occupied share near 79%, pointing to a deep tenant base, according to WDSuite’s CRE market data.
This Inner Suburb location offers a practical renter profile for workforce housing. Neighborhood occupancy stands at 94.2%, and renter-occupied units account for roughly 78.7% of housing stock — a very high renter concentration that supports multifamily demand and lease stability (measured at the neighborhood level, not the property).
Everyday retail within the immediate neighborhood is limited (few grocery, pharmacy, and childcare options), but restaurant density is comparatively stronger than many areas nationally. For investors, this mix suggests residents may rely on broader trade areas for errands while benefiting from dining options nearby.
Within a 3-mile radius, households have grown modestly in recent years and are projected to expand further, with population expected to increase by about 7% and average household size trending smaller by 2028. This combination typically enlarges the renter pool and can support occupancy stability. Median contract rents in the 3-mile area have risen and are forecast to continue increasing, while a neighborhood-level rent-to-income ratio near 0.23 indicates manageable affordability pressure that can aid retention.
Median home values in the neighborhood are low relative to national norms, which can introduce some competition from ownership options and temper pricing power. However, the area’s strong renter concentration and stable occupancy provide counterbalance for multifamily operators focused on resident retention and consistent leasing.
Safety indicators are mixed when viewed against national benchmarks. Overall crime levels sit around the national middle (47th percentile), while violent offense rates are weaker (around the 10th percentile nationally). Recent trends are improving, with estimated one-year declines in both violent and property offenses, which is constructive for perception and leasing but should still be underwritten conservatively.
Compared with the Toledo metro’s 244 neighborhoods, this area does not rank among the top safety performers; investors should account for active property management and resident engagement to support retention and community standards over the hold period.
Proximity to regional employers supports a steady commuter tenant base, with a concentration in manufacturing and materials. Nearby anchors include Owens Corning, Dana, and Owens-Illinois, which can reinforce leasing durability for workforce-oriented units.
- Owens Corning — building materials HQ (5.0 miles) — HQ
- Dana — auto components (5.2 miles)
- Dana Holding — auto components (5.2 miles) — HQ
- Owens-Illinois — packaging/glass HQ (6.7 miles) — HQ
- Dana Holding Corporation — auto components (7.3 miles)
Built in 1978, the property is newer than much of the surrounding housing stock, positioning it competitively versus older vintage assets while still offering potential to modernize systems and finishes for value-add upside. Strong neighborhood renter concentration and a reported ~94% neighborhood occupancy underpin demand resilience, while a manageable rent-to-income ratio suggests room for disciplined rent management and retention. Based on CRE market data from WDSuite, the broader 3-mile area shows rising and forecasted household counts with smaller household sizes, which typically broadens the renter base and supports occupancy stability.
Key considerations include a lean nearby amenity base and a low-cost ownership market that can compete with rentals on the margin, along with safety metrics that trail national averages despite recent improvement. These factors call for prudent underwriting, targeted capital planning, and active management to sustain leasing momentum.
- 1978 vintage offers competitive positioning versus older local stock and value-add potential through modernization
- High neighborhood renter concentration and ~94% neighborhood occupancy support demand stability
- 3-mile area shows growing household counts and smaller household sizes, expanding the renter pool
- Manageable rent-to-income dynamics can aid retention and measured rent growth
- Risks: limited immediate amenities, competitive low-cost ownership alternatives, and below-median safety metrics despite improving trends