| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Best |
| Demographics | 57th | Good |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 425 E Court St, Bowling Green, OH, 43402, US |
| Region / Metro | Bowling Green |
| Year of Construction | 1987 |
| Units | 36 |
| Transaction Date | 2008-06-17 |
| Transaction Price | $690,000 |
| Buyer | MTRE ENTERPRISES LLC |
| Seller | BOWLING GREEN STATE UNIVERSITY FOUNDATIO |
425 E Court St, Bowling Green OH Multifamily Investment
Renter demand is supported by a high renter-occupied share in the surrounding neighborhood and occupancy near the low-90s, according to WDSuite's CRE market data. The 1987 vintage offers relatively newer stock versus older area inventory, helping positioning while leaving room for targeted upgrades.
The property sits in an Inner Suburb of the Toledo, OH metro where the neighborhood is competitive among Toledo neighborhoods (ranked 41 out of 244). Restaurant density scores in the top tier locally (rank 4 of 244; 96th percentile nationally), while grocery access is strong for daily needs (rank 35 of 244; 83rd percentile nationally). Parks, cafes, and pharmacies are less dense in this immediate area, which may modestly affect walk-to conveniences, but core services are present.
The neighborhood's housing stock skews older on average (1932), making the 1987 construction relatively newer and more competitive than much of the surrounding inventory. That positioning can reduce near-term modernization needs versus older comparables, though planning for systems updates and selective repositioning remains prudent for long-term durability.
Renter concentration is high at the neighborhood level, with 71.5% of housing units renter-occupied (top decile locally). For investors, that depth of renter households helps sustain leasing velocity and occupancy stability for multifamily assets. Neighborhood occupancy is around the low-90s, consistent with steady, if not tight, conditions.
Within a 3-mile radius, demographics indicate a large 18-34 renter pool and a modest population decline alongside an increase in total households and smaller average household size. This dynamic typically expands the tenant base for smaller formats and supports absorption even when population growth is muted. Median contract rents in the radius have risen over the past five years and are projected to continue increasing, per multifamily property research from WDSuite.
Home values in the neighborhood sit below many national markets, but the value-to-income ratio is elevated locally (90th percentile nationally), signaling a higher-cost ownership landscape relative to incomes. That tends to reinforce reliance on rental options, aiding retention and pricing power for well-maintained apartments. At the same time, a higher rent-to-income ratio at the neighborhood level suggests some affordability pressure, making thoughtful lease management and amenity-value alignment important.
Recent safety indicators are favorable in national context. The neighborhood sits in the upper quartile nationally for lower violent and property offense rates, and both categories show meaningful year-over-year improvement. Property offenses are down an estimated 42.8% and violent offenses down 59.2% over the last year, according to WDSuite's CRE market data. Conditions can vary block to block, but the broader trend supports resident retention and leasing stability.
Nearby headquarters and corporate offices provide a diversified employment base that supports renter demand and commute convenience, including Owens-Illinois, Dana, Dana Holding, Owens Corning, and Marathon Petroleum.
- Owens-Illinois — packaging HQ (10.5 miles) — HQ
- Dana — automotive components (13.5 miles)
- Dana Holding — automotive components (13.5 miles) — HQ
- Owens Corning — building materials (19.5 miles) — HQ
- Marathon Petroleum — energy (23.5 miles) — HQ
425 E Court St offers 36 units built in 1987, a relative advantage versus much older neighborhood stock. That vintage supports competitive positioning with potential for value-add through targeted interior updates and systems modernization as the asset ages. Neighborhood fundamentals show a high share of renter-occupied housing and occupancy in the low-90s, reinforcing demand depth. Within 3 miles, households are rising and average household size is shrinking, which typically expands the renter base for compact formats and supports occupancy stability. According to CRE market data from WDSuite, local ownership costs relative to income remain elevated, strengthening reliance on multifamily rentals.
Key watch items include neighborhood-level affordability pressure (higher rent-to-income ratios) and modest population contraction even as households increase. Amenity gaps in parks and cafes may cap walkability premiums, making on-site features and operational execution more important to retention.
- 1987 vintage newer than area average, supporting competitive positioning with targeted value-add potential
- High neighborhood renter-occupied share and stable occupancy underpin demand depth and leasing resilience
- 3-mile radius shows more households and smaller household sizes, expanding the renter pool and supporting absorption
- Elevated ownership costs relative to income reinforce reliance on rentals, aiding pricing power for well-run assets
- Risks: neighborhood affordability pressure, slight population decline, and limited nearby parks/cafes may temper rent growth