| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Good |
| Demographics | 41st | Fair |
| Amenities | 20th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 840 W Elm St, Wauseon, OH, 43567, US |
| Region / Metro | Wauseon |
| Year of Construction | 1990 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
840 W Elm St, Wauseon OH Multifamily Investment
Stabilized renter demand in a rural submarket, with neighborhood occupancy tracking slightly above national norms, according to WDSuite’s CRE market data. The asset’s 120 units offer scale for operational efficiency in a low rent-to-income context that can support retention.
Neighborhood fundamentals indicate steady renter demand for this Rural cluster within the Toledo, OH metro. Neighborhood occupancy is measured at 92.9% (neighborhood metric, not property-specific), placing it around the national mid-to-upper range. Median contract rents in the neighborhood skew lower versus many U.S. areas, which, paired with a high rent-to-income percentile nationally, points to manageable affordability pressure and potential lease stability, based on CRE market data from WDSuite.
Livability is serviceable but amenity-light. Neighborhood rankings among 244 Toledo neighborhoods show limited dining, cafes, parks, and pharmacies, while grocery access is roughly near the metro middle. Childcare access ranks competitive among Toledo neighborhoods, offering a practical convenience for working households.
Tenure patterns suggest a moderate share of renter-occupied housing units at the neighborhood level, ranking above the metro median for renter concentration. For investors, that implies a meaningful, if not deep, tenant base for multifamily product and supports consistent leasing velocity.
Within a 3-mile radius, demographics show modest population growth with a slight tilt toward family-age and working-age cohorts, and projections indicate an increase in households even as average household size trends lower. This combination typically expands the renter pool over time and can support occupancy stability. Median home values in the neighborhood are lower than many U.S. markets, which may create some competition from ownership options; however, more accessible ownership costs also tend to anchor overall housing costs, helping multifamily maintain pricing discipline without overextending renters.
Vintage context: the neighborhood’s average construction year is 1977. With a 1990 build, the property is newer than much of the local stock, which can aid competitive positioning versus older assets while still warranting targeted system updates or light modernization as part of capital planning.
Safety indicators for the neighborhood track slightly better than national averages overall. Violent offense levels sit in a higher national safety percentile, while property offense levels are also relatively favorable nationally, according to WDSuite’s data. Within the Toledo metro (244 neighborhoods), the neighborhood’s crime ranking is mid-pack—neither among the lowest- nor highest-risk areas—which suggests typical risk management practices remain appropriate for underwriting.
Recent data show an improvement trend in violent offenses over the last year at the neighborhood level, while property offenses saw an uptick; investors may wish to monitor quarterly updates and consider standard measures such as lighting, access control, and resident engagement to support retention and minimize exposure.
Regional employment is anchored by manufacturing and materials companies within commuting range, supporting workforce housing demand and day-to-day leasing stability. Notable employers include Dana, Dana Holding, Owens-Illinois, Owens Corning, and Marathon Petroleum.
- Dana — auto parts manufacturing (24.1 miles)
- Dana Holding — auto parts manufacturing (24.1 miles) — HQ
- Owens-Illinois — glass containers manufacturing (26.6 miles) — HQ
- Owens Corning — building materials (33.0 miles) — HQ
- Marathon Petroleum — energy & refining (44.2 miles) — HQ
This 120-unit, 1990-vintage asset sits in a neighborhood where occupancy is solidly above the national midpoint and rents trend on the lower side relative to many U.S. areas. That combination—plus a high national percentile for rent-to-income—supports tenant retention and lease management flexibility. The vintage is newer than the area’s 1970s-average stock, which can enhance competitive positioning versus older assets, while still calling for targeted system upgrades and cosmetic refreshes to sustain rentability.
Within a 3-mile radius, modest population growth and projections for more households point to a gradually expanding renter pool, which helps underpin long-run occupancy stability. According to CRE market data from WDSuite, the neighborhood’s renter-occupied share ranks above the metro median, providing a meaningful base of multifamily demand, though the rural, amenity-light setting argues for disciplined expense control and pragmatic rent growth expectations.
- Occupancy runs near the national upper-middle range at the neighborhood level, aiding income durability.
- Lower neighborhood rents and favorable rent-to-income positioning support retention and pricing flexibility.
- 1990 construction is newer than much of the local stock, with value-add via targeted system and interior updates.
- 3-mile demographics indicate incremental renter pool expansion, supporting occupancy stability over time.
- Risks: amenity-light rural location and relatively accessible homeownership can temper rent growth; active asset management remains important.