| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Best |
| Demographics | 68th | Best |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 505 Lehman Ave, Bowling Green, OH, 43402, US |
| Region / Metro | Bowling Green |
| Year of Construction | 1994 |
| Units | 27 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
505 Lehman Ave, Bowling Green OH Multifamily Investment
Renter demand looks durable with neighborhood occupancy near the high-90s and a large renter-occupied housing base, according to WDSuite s CRE market data. Positioning focuses on steady lease-up and retention rather than outsized rent growth.
Located in Bowling Green within the Toledo, OH metro, the neighborhood ranks in the top quartile among 244 metro neighborhoods (A rating). High neighborhood occupancy (about 98%) suggests stable leasing conditions versus broader U.S. trends, supporting predictable cash flow for small-unit assets.
Amenities are a relative strength: dining, cafes, groceries, and pharmacies score competitive-to-strong versus the metro (each ranking among the better-performing areas out of 244 neighborhoods). This supports everyday convenience for renters and can aid retention.
Within a 3-mile radius, household counts have grown recently and are projected to expand further even as overall population trends soften, indicating smaller household sizes and a larger pool of renting households. With roughly seven in ten housing units renter-occupied in this radius, depth of tenant demand is supported for multifamily.
Median contract rents in the neighborhood sit at accessible levels relative to income, and the rent-to-income profile indicates manageable affordability pressure. In practice, this favors lease stability, though pricing power may be moderate compared with higher-cost submarkets.
The property s 1994 vintage is newer than the neighborhood s older housing stock (average year 1936), offering a competitive edge versus legacy units. Investors should still plan for system updates typical of late-20th-century construction, but the relative vintage can reduce near-term capital intensity compared with pre-war inventory.
Comparable crime metrics for this neighborhood are not available in WDSuite at this time. Investors typically benchmark safety using multiple sources and trend direction at the metro and neighborhood level to understand potential impacts on renter demand and retention.
Proximity to major employers supports workforce rental demand and commute convenience, led by manufacturing, building materials, and energy firms listed below.
- Owens-Illinois corporate offices (10.9 miles) HQ
- Dana corporate offices (13.9 miles)
- Dana Holding corporate offices (13.9 miles) HQ
- Owens Corning building materials (19.9 miles) HQ
- Marathon Petroleum energy (23.1 miles) HQ
505 Lehman Ave offers exposure to a renter-heavy neighborhood with high occupancy and everyday amenity access. Based on CRE market data from WDSuite, the area ranks in the top quartile locally, and the 3-mile radius shows an expanding household base despite softer population trends a setup that can support a stable tenant pipeline and steady renewals.
Built in 1994 with an average unit size around 400 sf, the asset skews to smaller-format housing that aligns with single-occupant demand and smaller households. The vintage is newer than much of the neighborhood s stock, suggesting manageable capital plans and potential for targeted value-add to enhance competitiveness without overcapitalizing.
- Renter-heavy area with high neighborhood occupancy supports leasing stability and retention.
- Household growth within 3 miles points to a larger tenant base even as populations trend smaller.
- 1994 construction offers relative competitive positioning versus older local stock, with focused value-add potential.
- Accessible rent levels favor consistent lease performance, though pricing power may be moderate.
- Risk: ownership costs are relatively accessible in the metro, which can introduce competition with entry-level ownership options over time.