| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Best |
| Demographics | 57th | Good |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 424 Frazee Ave, Bowling Green, OH, 43402, US |
| Region / Metro | Bowling Green |
| Year of Construction | 1997 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
424 Frazee Ave Bowling Green Multifamily Investment Opportunity
Neighborhood renter demand is supported by a high renter-occupied share and occupancy near the metro median, according to WDSuite’s CRE market data. For investors, this points to a stable tenant base at the neighborhood level rather than the property specifically.
The property sits in an Inner Suburb pocket of Bowling Green rated A- and ranked 41 out of 244 Toledo neighborhoods, indicating it is competitive among Toledo neighborhoods. Local retail access skews practical: grocery coverage ranks 35 of 244 (strong for daily needs), and restaurant density ranks 4 of 244, while cafés, parks, and pharmacies are limited, which may modestly affect lifestyle appeal but not day-to-day convenience.
Rents in the neighborhood trend below national norms, while occupancy is around the national median, suggesting steady leasing conditions with room for value positioning rather than premium pricing. The neighborhood’s renter concentration ranks 10 of 244, indicating a high share of renter-occupied housing units and a deeper tenant base for multifamily operators.
The average neighborhood construction year is 1932, whereas this asset was built in 1997. Newer vintage relative to nearby stock can help competitive positioning versus older properties, though investors should still plan for systems modernization and selective renovations as part of long-term capital planning.
Within a 3-mile radius, demographics skew younger, and households grew even as population edged down, pointing to smaller household sizes and a broader addressable renter pool. Looking ahead, WDSuite’s commercial real estate analysis indicates households are projected to expand further while average household size declines, a combination that typically supports multifamily absorption and occupancy stability at the neighborhood level.
Crime levels in the immediate area compare favorably in the regional context. The neighborhood’s crime rank is 12 out of 244 Toledo neighborhoods, placing it competitive among Toledo neighborhoods and in the top quartile nationally based on WDSuite benchmarks. Recent year-over-year declines in both property and violent offense estimates add a constructive trend signal, though investors should evaluate submarket and property-level patterns during diligence.
A diversified employer base within commuting range supports workforce housing demand, led by manufacturing and materials headquarters alongside automotive suppliers and energy. These nearby employers can bolster leasing stability through steady job inflows.
- Owens-Illinois — glass packaging HQ (10.0 miles) — HQ
- Dana — automotive supplier (13.0 miles)
- Dana Holding — automotive supplier (13.0 miles) — HQ
- Owens Corning — building materials (19.0 miles) — HQ
- Marathon Petroleum — energy (24.0 miles) — HQ
Built in 1997 with 32 units averaging roughly 478 square feet, the asset skews toward efficient layouts that align with a younger renter profile within a 3-mile radius. According to CRE market data from WDSuite, the neighborhood shows occupancy near the metro median and a high share of renter-occupied housing units, reinforcing depth of tenant demand. Newer vintage relative to the area’s older stock supports competitive positioning versus legacy properties, while selective updates can unlock value-add potential.
Ownership remains comparatively high-cost relative to local incomes at the neighborhood level, which tends to sustain reliance on rentals and can aid retention. At the same time, a relatively elevated rent-to-income ratio suggests some affordability pressure, indicating that disciplined lease management and prudent renewal strategies are important. Proximate anchors in manufacturing, materials, and energy further underpin steady leasing fundamentals.
- Competitive neighborhood positioning with occupancy near metro median and high renter concentration
- 1997 vintage newer than local stock, offering relative competitiveness and targeted value-add upside
- Employer proximity (manufacturing, materials, energy) supports leasing stability for workforce renters
- Household growth and smaller household sizes within 3 miles expand the addressable renter pool
- Risk: affordability pressure (rent-to-income) calls for careful pricing and retention tactics; limited parks/pharmacies may temper lifestyle appeal