| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Best |
| Demographics | 48th | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1550 Clough St, Bowling Green, OH, 43402, US |
| Region / Metro | Bowling Green |
| Year of Construction | 1979 |
| Units | 67 |
| Transaction Date | 1989-11-21 |
| Transaction Price | $1,200,000 |
| Buyer | IVYWOOD 67 LLC |
| Seller | IVY WOOD ASSOCIATES GENERAL PARTNERSHIP |
1550 Clough St, Bowling Green OH Multifamily Investment
High renter concentration and competitive neighborhood occupancy suggest steady leasing fundamentals, according to WDSuite’s CRE market data. For investors, the area’s renter demand supports income durability while leaving room for selective value-add execution.
Situated in Bowling Green within the Toledo metro, the neighborhood rates highly (A) and is competitive among Toledo neighborhoods (ranked 23rd of 244), per WDSuite. Amenity access is solid for daily needs and lifestyle—restaurants and cafes index well nationally, and parks and groceries are accessible, which helps support everyday livability for renters.
Neighborhood occupancy is strong and competitive among Toledo neighborhoods (ranked 45th of 244) and sits in the top quartile nationally by percentile, indicating generally stable tenant retention and fewer prolonged vacancies. Renter concentration is among the highest in the metro (1st of 244), pointing to a deep tenant base and consistent multifamily demand.
Construction vintage skews slightly older locally; this asset’s 1979 delivery is somewhat newer than the neighborhood average year built (1973). Investors should plan for system modernization and common-area refreshes over time, but the vintage also creates potential for targeted renovations to enhance relative competitiveness versus older stock.
Within a 3-mile radius, demographic data show households increased even as population modestly declined in recent years, implying smaller household sizes and a steady flow of renters entering the market. Forecasts point to additional household growth by 2028 despite population contraction, which can support occupancy stability and a larger tenant base over time. Median home values in the neighborhood sit in a higher-cost ownership context relative to local incomes, reinforcing reliance on multifamily rentals; at the same time, rent-to-income levels indicate manageable affordability pressure, aiding lease retention and renewal odds.
School ratings in the neighborhood trend below national averages, which may temper appeal for family-oriented renters; however, the area’s amenities and renter orientation continue to underpin multifamily demand. Overall, based on commercial real estate analysis from WDSuite, the location fundamentals favor durable occupancy with value-add upside rather than a pure lease-up story.
Safety indicators are mixed when comparing metro and national views. Within the Toledo metro, the neighborhood’s crime rank places it in a less favorable tier (38th of 244, where lower ranks indicate more crime). Nationally, however, WDSuite data place the area in a comparatively safer position overall, with property and violent offense percentiles in the upper ranges versus neighborhoods nationwide, and recent trends show improvement in violent offense rates year over year.
For investors, the takeaway is to underwrite with standard security and lighting enhancements while recognizing that national comparisons are stronger than the intra-metro rank would suggest. Avoid block-level conclusions; focus on site-specific visibility, access control, and management practices to maintain leasing stability.
The broader Toledo employment base includes several nearby corporate headquarters and offices that support renter demand through commute convenience and diversified job drivers. Notable employers in proximity include Owens-Illinois, Dana, Dana Holding, Owens Corning, and Marathon Petroleum.
- Owens-Illinois — packaging glass HQ (10.8 miles) — HQ
- Dana — automotive components (14.0 miles)
- Dana Holding — automotive components HQ (14.0 miles) — HQ
- Owens Corning — building materials HQ (19.5 miles) — HQ
- Marathon Petroleum — energy HQ (23.2 miles) — HQ
This 67-unit, 1979-vintage asset sits in a renter-oriented Bowling Green neighborhood with competitive occupancy and a deep tenant base. According to CRE market data from WDSuite, neighborhood occupancy trends rank competitively within the Toledo metro and land in the top national quartile by percentile, supporting income stability. The ownership market’s relatively high value-to-income relationship helps sustain multifamily demand, while rent-to-income levels suggest manageable affordability pressure that can aid renewals.
Within a 3-mile radius, households have grown despite population contraction, pointing to smaller household sizes and ongoing renter pool expansion; forecasts call for further household growth by 2028, which can support leasing and occupancy management. The 1979 construction presents practical value-add levers—unit interiors, energy-efficiency upgrades, and common-area improvements—to enhance competitiveness versus older neighborhood stock.
- Competitive neighborhood occupancy and strong national safety percentiles support stability
- Deep renter concentration (1st of 244) signals durable multifamily demand
- 1979 vintage offers targeted renovation and efficiency upgrade upside
- Household growth within 3 miles and higher ownership costs reinforce tenant retention
- Risks: below-average school ratings, mixed metro crime rank, and limited pharmacy access warrant conservative underwriting