| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Best |
| Demographics | 57th | Good |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 560 Frazee Ave, Bowling Green, OH, 43402, US |
| Region / Metro | Bowling Green |
| Year of Construction | 1981 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
560 Frazee Ave, Bowling Green OH Multifamily Investment
Neighborhood-level occupancy is steady and renter concentration is high, supporting demand for a 36-unit asset, according to WDSuite s CRE market data. This positioning can aid leasing durability even as pricing needs to reflect local incomes.
Located in Bowling Green a0(Inner Suburb within the Toledo metro), the neighborhood carries an A- rating and ranks 41st among 244 Toledo neighborhoods, signaling competitive fundamentals. Restaurants are a relative strength (ranked 4th of 244; top quartile nationally), while grocery access also compares well in the metro. By contrast, cafes, parks, and pharmacies are limited locally, which may temper some lifestyle appeal.
Renter-occupied housing accounts for 71.5% of neighborhood units (top-tier within the metro), indicating a deep tenant base for multifamily. Neighborhood occupancy is about 90.9% and near the metro median over recent periods, suggesting stable but competitive leasing conditions rather than outsized tightness. Median contract rents are modest for the region, but a rent-to-income ratio near 0.32 points to affordability pressure that owners should manage through prudent renewals and unit positioning.
Within a 3-mile radius, recent trends show a slight population dip alongside growth in total households and a shrinking average household size. Looking forward, forecasts point to additional household gains and higher median incomes, supporting a larger renter pool and potential for steady absorption of well-priced, functional units.
Median home values are lower than many national peers, yet the local value-to-income ratio sits high for the area, indicating a high-cost ownership market relative to incomes. That dynamic typically sustains renter reliance on multifamily, aiding retention and limiting move-outs to ownership when lease management is disciplined.
The property a0(1981 vintage) is newer than much of the surrounding housing stock (neighborhood average skews older), offering a competitive edge versus pre-war product. That said, systems and finishes may still be due for targeted upgrades, creating potential value-add pathways without the heavier lift often associated with much older assets.
Neighborhood safety indicators are comparatively favorable. The area ranks 12th out of 244 Toledo neighborhoods for lower crime exposure (a top-quartile position locally) and falls around the 85th percentile for safety compared with neighborhoods nationwide. Recent data also show year-over-year declines in both property and violent offense rates, a constructive trend for tenant retention and lease stability.
Proximity to established corporate employers underpins renter demand through commute convenience and a diverse employment base, including glass manufacturing, auto components, and building materials.
- Owens-Illinois glass manufacturing (9.96 miles) — HQ
- Dana — auto components (12.97 miles)
- Dana Holding — auto components (12.98 miles) — HQ
- Owens Corning — building materials (19.00 miles) — HQ
- Marathon Petroleum — energy (23.98 miles) — HQ
560 Frazee Ave offers a 36-unit footprint with smaller average unit sizes suited to workforce renters. The neighborhood shows a high share of renter-occupied units and restaurant/grocery access that is competitive within the Toledo metro, supporting day-to-day convenience and leasing depth. According to CRE market data from WDSuite, safety metrics are top quartile locally and household counts within a 3-mile radius are expanding even as average household size declines, indicating a broader tenant base over time.
Built in 1981, the asset is newer than much of the surrounding housing stock, giving it a relative edge versus older properties while still presenting practical value-add opportunities through systems updates and interior refreshes. Investors should calibrate rents to local incomes and manage renewals carefully given measured affordability pressure, while leveraging resilient neighborhood demand to support occupancy.
- High renter concentration and competitive neighborhood amenities support depth of tenant demand.
- 1981 vintage is newer than area norms, with targeted upgrade potential for value-add.
- Favorable safety positioning (top quartile locally) aids retention and leasing stability.
- 3-mile household growth and smaller household sizes point to a widening renter pool.
- Risks: affordability pressure (rent-to-income near 0.32) and limited parks/pharmacy access require thoughtful amenity and lease strategies.