| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Good |
| Demographics | 47th | Fair |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 425 Cole St, Wauseon, OH, 43567, US |
| Region / Metro | Wauseon |
| Year of Construction | 1993 |
| Units | 35 |
| Transaction Date | 2014-01-24 |
| Transaction Price | $950,000 |
| Buyer | WAUSEON II LLC |
| Seller | WAUSEON MANOR II LIMITED PARTNERSHIP |
425 Cole St, Wauseon OH — Multifamily Investment in Toledo Suburban Node
Neighborhood occupancy sits among the highest in the Toledo metro, supporting stable leasing and retention according to WDSuite’s CRE market data. Pricing sits below regional norms, creating potential to capture steady demand without overextending affordability.
This suburban location in Wauseon carries an A- neighborhood rating (ranked 42 among 244 metro neighborhoods), indicating competitive fundamentals within the Toledo market. Grocery, park, and pharmacy access score above the metro median, while cafes are thinner—suggesting daily needs are well-covered with fewer discretionary amenities nearby. Average public school ratings trend above national medians, a positive signal for family-oriented renter demand.
Rents in the immediate area are modest versus national benchmarks, and the rent-to-income ratio registers favorably low, which can support retention and measured revenue management. At the same time, neighborhood occupancy performance is at the top of the metro peer set, a combination that points to durable renter demand and minimal structural vacancy, per commercial real estate analysis from WDSuite.
The property’s 1993 construction is newer than the neighborhood’s older housing stock (average vintage 1973). For investors, that typically means less near-term capital pressure versus pre-1980 assets, while still leaving room for targeted upgrades to enhance competitive positioning.
Tenure data indicates a renter-occupied share under one-third of housing units locally, implying a moderate renter base but not a transient market. Within a 3-mile radius, population is essentially stable, while households are projected to increase alongside smaller average household sizes—factors that can expand the renter pool and support occupancy stability over the medium term.
Relative to the Toledo metro, the neighborhood’s crime rank sits in a stronger (safer) cohort, indicating performance above the metro average. Nationally, overall safety metrics trend closer to the middle of the pack, with property-related categories comparing somewhat better than violent categories.
Recent year-over-year readings indicate an uptick in both property and violent offense estimates. For investors, this argues for routine security and lighting reviews, plus partnership with local management practices, while recognizing that—on a metro basis—the area remains competitive among Toledo neighborhoods.
Proximity to major corporate headquarters and regional offices supports a diverse employment base and commuter convenience for workforce renters. Nearby anchors include Dana Holding in automotive components, Owens-Illinois in glass packaging, Owens Corning in building materials, and Marathon Petroleum in energy refining.
- Dana Holding — automotive components (22.9 miles) — HQ
- Owens-Illinois — glass packaging (25.5 miles) — HQ
- Owens Corning — building materials (31.7 miles) — HQ
- Marathon Petroleum — energy refining (44.2 miles) — HQ
425 Cole St offers a small-scale, professionally manageable asset profile in a Toledo suburban setting where neighborhood occupancy ranks at the top of the metro peer set. Rents benchmark below national levels and rent-to-income is favorable, supporting tenant retention and the potential for disciplined revenue strategies without stressing affordability. According to CRE market data from WDSuite, local amenities essential to daily living are accessible, and school ratings run above national medians.
Built in 1993, the property is newer than much of the surrounding housing stock, which can reduce near-term capital intensity while preserving value-add optionality through targeted interior and common-area improvements. Within a 3-mile radius, households are projected to grow even as average household size trends down—conditions that can expand the renter pool and support occupancy stability. Key risks include thinner discretionary amenities and recent year-over-year crime upticks, warranting prudent on-site management and expense planning.
- Metro-leading neighborhood occupancy supports stable leasing and low structural vacancy
- Favorable rent-to-income and below-national rents enable measured pricing power with retention
- 1993 vintage offers lower immediate capex than older local stock with selective value-add upside
- 3-mile household growth and smaller household sizes point to a larger renter pool
- Risks: lighter discretionary amenities and recent crime upticks call for active management