| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 18th | Poor |
| Demographics | 30th | Poor |
| Amenities | 16th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 911 Dorr St, Toledo, OH, 43607, US |
| Region / Metro | Toledo |
| Year of Construction | 1978 |
| Units | 48 |
| Transaction Date | 2015-01-05 |
| Transaction Price | $2,600,000 |
| Buyer | NEW TOWN APARTMENTS 2013 LP |
| Seller | NEW TOWN LP |
911 Dorr St, Toledo OH Multifamily Investment
Positioned in a renter-heavy pocket near central Toledo, this 48-unit asset benefits from steady neighborhood renter demand and improving occupancy trends, according to WDSuite’s CRE market data. Income-oriented investors may see durable leasing supported by accessible rents and proximity to major employers.
Livability leans practical: the neighborhood skews Suburban with limited retail and dining density, while childcare coverage is comparatively strong for the metro. School quality benchmarks sit below national medians, which may temper family-driven demand but can still support workforce-oriented leasing.
Relative to the Toledo metro’s 244 neighborhoods, overall neighborhood standing is below the metro median, and amenities are also below national medians. That said, neighborhood occupancy has trended upward in recent years, signaling healthier absorption and leasing stability versus its own prior period (based on CRE market data from WDSuite). Median rent levels remain accessible in a regional context, supporting retention but limiting outsized pricing power.
The local housing stock is older on average, which positions a 1978-vintage building as newer than much of the surrounding inventory—potentially competitive on baseline systems and finishes. Investors should still plan for ongoing modernization to meet renter expectations and enhance curb appeal.
Tenure patterns indicate a meaningful share of renter-occupied housing at the neighborhood level, supporting a viable tenant base for multifamily. Within a 3-mile radius, demographics show a broad mix of age cohorts and a renter pool that comprises just over half of occupied units, which can help sustain leasing. Over the last five years, population softened slightly but household counts edged up; looking ahead, forecasts point to household growth by mid-decade, implying a larger tenant base and support for occupancy. Elevated ownership costs are not the primary constraint here; rather, relatively low home values can create some competition with entry-level ownership, so leasing strategies should emphasize convenience, unit quality, and service.
Compared with Toledo’s 244 neighborhoods, this area’s crime metrics sit below the metro median and below national medians, indicating elevated incident rates. However, recent year-over-year trends show notable declines in both property and violent offenses, suggesting conditions have been improving rather than deteriorating. Investors should underwrite prudent security and lighting upgrades and account for operating practices that support resident safety and retention.
Proximity to established corporate offices supports commuter convenience and broad workforce housing demand. The anchors below represent nearby employers that can help reinforce tenant retention and steady leasing.
- Owens Corning — corporate offices (1.6 miles) — HQ
- Dana Holding Corporation — corporate offices (3.9 miles)
- Dana — corporate offices (8.9 miles)
- Owens-Illinois — corporate offices (9.6 miles) — HQ
This 1978-vintage, 48-unit property offers a straightforward workforce housing thesis: accessible neighborhood rents, a sizable local renter base, and proximity to major employers support occupancy stability. The asset is newer than much of the surrounding housing stock, which can be an advantage against older comparables, while targeted renovations and curb appeal upgrades can capture value-add upside. According to CRE market data from WDSuite, neighborhood occupancy has improved in recent years, and 3-mile demographics point to rising household counts ahead—factors that can expand the renter pool and backfill turnover.
Key considerations include below-median school ratings, limited neighborhood amenities, and crime levels that remain above metro averages despite recent declines. Ownership costs are relatively low in this part of Lucas County, so leasing and asset management should emphasize convenience, maintenance responsiveness, and unit quality to mitigate competition from entry-level ownership.
- Workforce housing positioning with accessible rents supports retention and steady leasing
- 1978 vintage is newer than much of the local stock, with practical value-add potential
- Nearby corporate offices expand the commuter tenant base and support occupancy
- Forward-looking 3-mile household growth indicates a larger renter pool over the medium term
- Risks: below-median school ratings, limited amenities, and elevated crime require active management and security planning