| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Best |
| Demographics | 69th | Best |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 121 N Wintergarden Rd, Bowling Green, OH, 43402, US |
| Region / Metro | Bowling Green |
| Year of Construction | 1997 |
| Units | 75 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
121 N Wintergarden Rd Bowling Green Multifamily Investment
Neighborhood occupancy sits at the top of the Toledo metro, supporting rent-roll durability for well-run assets nearby, according to WDSuite’s CRE market data. These are neighborhood-level metrics, not property performance.
Located in Bowling Green within the Toledo, OH metro, the neighborhood ranks 33 out of 244 metro neighborhoods (A rating), placing it in the top quartile locally for overall fundamentals. Nearby schools average 4.0 out of 5 and rank 13 of 244, which is also top quartile nationally (84th percentile), a positive indicator for family-oriented renter demand.
Rents and occupancy at the neighborhood level are favorable: occupancy is measured at the top of the metro (1 of 244) and nationally strong, indicating tight conditions that can support lease stability. Median contract rents in the immediate area remain accessible relative to incomes (high national percentile for rent-to-income), which can aid retention while still allowing disciplined pricing power as leases roll.
The property’s 1997 vintage is modestly newer than the neighborhood’s average construction year of 1991 (rank 19 of 244; 72nd percentile nationally). That positioning supports competitive appeal versus older stock, though investors should still plan for system modernization and targeted renovations typical for late-1990s assets.
Within a 3-mile radius, demographics show a larger renter-occupied share of housing units (about six in ten), creating depth in the tenant base for multifamily. Over the last period, households increased even as population edged down, pointing to smaller household sizes and a broader pool of potential renters. Forward-looking projections within the same 3-mile radius call for additional household growth and higher median incomes alongside rising asking rents, which can support occupancy stability and measured rent growth if operators manage affordability carefully.
Amenity access is mixed: cafes score competitively within the metro (rank 30 of 244; strong national percentile), while parks, restaurants, and childcare count are thinner, consistent with the area’s more rural character. Home values in the neighborhood sit around the metro middle with a relatively low value-to-income ratio (19th percentile nationally), suggesting a more accessible ownership market; investors should monitor for potential competition from entry-level ownership, particularly on renewal pricing.
Safety indicators are comparatively favorable in a national context. Violent offense rates benchmark around the 80th percentile nationally (safer than many neighborhoods), and property offense rates sit in the mid-to-high national percentiles as well, according to WDSuite’s CRE market data.
Recent trends are mixed: violent offenses show a meaningful year-over-year improvement, while property offenses reflect a recent uptick. For underwriting, this suggests monitoring property security measures and loss-prevention policies, while recognizing that the broader safety profile remains above national averages. These figures describe neighborhood conditions rather than property-level incidents.
The area draws from a diversified employer base across manufacturing and materials, with several headquarters within commuting range—supporting workforce housing demand and lease retention for nearby multifamily.
- Owens-Illinois — glass packaging HQ offices (10.4 miles) — HQ
- Dana Holding — automotive components HQ offices (13.0 miles) — HQ
- Owens Corning — building materials HQ (19.8 miles) — HQ
- Marathon Petroleum — energy HQ (23.7 miles) — HQ
This 75-unit asset benefits from a neighborhood that ranks in the top quartile among 244 Toledo metro neighborhoods, with measured rent levels, strong school ratings, and consistently tight neighborhood occupancy. The 1997 vintage offers competitive positioning against older stock while presenting targeted value-add opportunities through common-area updates and system modernization.
Within a 3-mile radius, a high share of renter-occupied housing units, growing household counts, and projected income gains point to a steady tenant base. According to CRE market data from WDSuite, neighborhood occupancy remains exceptionally tight, which can support pricing power if operators manage affordability and watch for competition from relatively accessible ownership options in the area.
- Tight neighborhood occupancy supports lease stability and controlled rent growth
- 1997 vintage: competitive versus older stock with clear value-add paths
- Large renter base within 3 miles underpins demand and leasing velocity
- Proximity to major headquarters employers supports workforce housing demand
- Risks: thinner park/restaurant amenities and accessible ownership may pressure renewal pricing