| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Best |
| Demographics | 48th | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1017 S Main St, Bowling Green, OH, 43402, US |
| Region / Metro | Bowling Green |
| Year of Construction | 1978 |
| Units | 67 |
| Transaction Date | 2021-04-29 |
| Transaction Price | $2,937,700 |
| Buyer | CHARING CROSS COMMUNITIES LLC |
| Seller | CHARING CROSS GARDENS LP |
1017 S Main St, Bowling Green OH Multifamily Investment
Neighborhood occupancy is high and renter demand is durable, according to WDSuite’s CRE market data, supporting steady collections for a 67-unit asset in Bowling Green. This commercial real estate analysis points to a deep tenant base tied to nearby employers and a renter-oriented housing mix.
Located in an Inner Suburb of the Toledo, OH metro, the neighborhood scores an A rating and sits above the metro median overall (ranked 23 out of 244 neighborhoods). Dining and everyday amenities are convenient, with restaurant density competitive among Toledo neighborhoods (ranked 27 of 244) and cafes and parks also testing in the upper national percentiles. These amenity concentrations help support leasing velocity and retention.
Neighborhood occupancy is strong at 97.3% and has trended up over the last five years, placing the area in the top quartile among the 244 metro neighborhoods and around the 85th percentile nationally. For investors, this indicates fewer vacancy-driven interruptions and support for rent growth management when units turn.
The local housing stock skews renter-oriented: the share of housing units that are renter-occupied is exceptionally high within the neighborhood (top tier in the metro and nationally). This elevated renter concentration translates into a broad tenant pool for multifamily product and tends to underpin demand stability through cycles.
Within a 3-mile radius, households increased in recent years while average household size decreased, and projections call for further household growth through 2028 even as population moderates. This pattern typically supports a larger tenant base for smaller-format units and can help sustain occupancy. Median contract rents in the 3-mile area are expected to rise, while a high value-to-income environment locally suggests that the high-cost ownership market should continue to reinforce reliance on rentals rather than draw away tenants.
Safety indicators are comparatively favorable versus many U.S. neighborhoods: the area sits in the 92nd percentile nationally for lower violent offense rates and the 85th percentile for lower property offense rates. In practical terms, this places the neighborhood among stronger performers nationwide on major crime categories.
Trends are mixed over the last year: violent incidents declined materially, while property incidents moved higher. Investors should underwrite with recent comps and consider standard security measures and lighting, but the broader national positioning remains solid relative to peer areas.
Regional headquarters and major corporate offices within commuting reach support renter demand and leasing stability for workforce and professional tenants. Notable nearby employers include Owens-Illinois, Dana, Owens Corning, and Marathon Petroleum.
- Owens-Illinois — glass packaging HQ (11.6 miles) — HQ
- Dana Holding — auto parts HQ (14.6 miles) — HQ
- Owens Corning — building materials HQ (20.7 miles) — HQ
- Marathon Petroleum — energy refining HQ (22.3 miles) — HQ
Built in 1978, the property is slightly newer than the neighborhood’s average vintage, offering competitive positioning versus older stock while warranting capital planning for aging systems and selective modernization to drive rent premiums. Based on CRE market data from WDSuite, the surrounding neighborhood shows top-quartile occupancy locally and strong national percentiles, reinforced by a renter-occupied housing mix that supports depth of demand for multifamily units.
Within a 3-mile radius, households have grown and are projected to expand further even as population moderates, implying smaller household sizes and a broader renter pool. Elevated ownership costs relative to incomes in the neighborhood context tend to sustain reliance on rentals, while projected rent increases suggest potential for measured pricing power if unit turns are managed with attention to affordability pressure and retention.
- High neighborhood occupancy and strong national safety positioning support income stability
- Renter-occupied housing share is exceptionally high, indicating a deep tenant base
- 1978 vintage offers value-add and modernization pathways relative to older nearby stock
- Household growth and projected rent gains within 3 miles support leasing and pricing power
- Risks: recent uptick in property incidents and rent-to-income pressure call for prudent lease and CapEx management