| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Good |
| Demographics | 59th | Good |
| Amenities | 13th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5240 W Bancroft St, Toledo, OH, 43615, US |
| Region / Metro | Toledo |
| Year of Construction | 1975 |
| Units | 20 |
| Transaction Date | 2014-06-18 |
| Transaction Price | $350,000 |
| Buyer | MCDEWMACK ENTERPRISES LLC |
| Seller | PATRICIA A BULLARD LIFETIME ACCESS TRUST |
5240 W Bancroft St Toledo 20-Unit Multifamily
Neighborhood occupancy is in the top quartile nationally, supporting stable tenancy for well-managed assets, according to WDSuite’s CRE market data.
This suburban Toledo location balances everyday convenience with steady renter demand. Grocery access scores well versus national peers, while cafes, parks, and restaurants are limited in the immediate area, suggesting daily needs are covered but lifestyle amenities are modest. Median neighborhood rents sit near the national middle, and rent-to-income levels indicate manageable affordability that can support retention and measured rent growth for competitive product.
The neighborhood’s renter-occupied share is moderate, signaling a viable tenant base without overreliance on transient demand. For investors, this points to a durable leasing funnel, with occupancy levels for the neighborhood above metro medians historically and competitive nationally, per commercial real estate analysis validated by WDSuite. In a market with elevated home values relative to local incomes in many metros, this area’s more accessible ownership costs may introduce some competition with renting; operators should emphasize convenience, maintenance-free living, and unit quality to maintain pricing power.
Demographic trends are aggregated within a 3-mile radius and indicate population growth alongside a projected increase in households, creating a larger tenant base over the next five years. Smaller average household sizes are expected, which can favor professionally managed multifamily through demand for well-laid-out 1–2 bedroom units and support occupancy stability.
The asset’s 1975 construction is newer than the neighborhood’s average vintage, helping it compete against older stock. Investors should still plan for targeted modernization and systems updates to defend occupancy and enhance rent positioning as newer comparables enter the market.
Crime indicators for the neighborhood track close to national medians overall, with violent incidents trending below the national percentile midpoint and property offenses nearer the middle. Recent data show a meaningful year-over-year decline in estimated property offenses, which is a constructive sign for operating stability. As with any submarket, risk varies by micro-location and property management practices; investors should validate site-level patterns against broader Toledo benchmarks.
Nearby corporate offices provide a diversified employment base that supports workforce housing demand and commute convenience for residents, including Dana, Owens Corning, and Owens-Illinois.
- Dana — automotive components offices (6.7 miles)
- Dana Holding — automotive components offices (6.7 miles) — HQ
- Owens Corning — building materials HQ and offices (7.0 miles) — HQ
- Dana Holding Corporation — automotive components offices (7.4 miles)
- Owens-Illinois — glass & packaging HQ and offices (9.3 miles) — HQ
5240 W Bancroft St is a 20-unit asset positioned in a suburban Toledo neighborhood where occupancy is competitive nationally and rents are balanced relative to local incomes. The location’s strong grocery access and limited discretionary amenities suggest a practical value proposition for renters who prioritize convenience and price. Within a 3-mile radius, population growth and a projected increase in households point to a larger tenant base, supporting leasing stability and measured rent gains over the medium term, based on CRE market data from WDSuite.
Built in 1975, the property is newer than the neighborhood’s average vintage, giving it a relative edge versus older stock while still offering potential value-add through targeted renovations and building systems updates. Ownership costs in the broader area are more accessible than in high-cost metros, which can create some competition with renting; operators should differentiate through unit quality, maintenance responsiveness, and amenities to sustain occupancy and retention.
- Neighborhood occupancy in the top quartile nationally supports stable tenancy for well-managed assets.
- 3-mile radius shows population and household growth, expanding the renter pool and aiding lease-up and retention.
- 1975 vintage offers competitive positioning versus older stock with clear value-add and CapEx planning opportunities.
- Employment nodes within 7–9 miles (Dana, Owens Corning, Owens-Illinois) reinforce workforce housing demand.
- Risk: more accessible ownership options may compete with renting; active management and unit upgrades help defend pricing power.