| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Best |
| Demographics | 57th | Good |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 903 Thurstin St, Bowling Green, OH, 43402, US |
| Region / Metro | Bowling Green |
| Year of Construction | 1989 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
903 Thurstin St, Bowling Green — 36-Unit Multifamily
Steady renter demand in an Inner Suburb setting with a high renter-occupied share supports leasing durability, according to WDSuite s CRE market data. Neighborhood occupancy trends sit near the metro middle, positioning disciplined operators to focus on retention and modest pricing power.
The property sits in an Inner Suburb neighborhood of the Toledo, OH metro (A- rating; 41st of 244 neighborhoods), where restaurants are dense relative to peers (competitive regional rank) while cafes, parks, and pharmacies are limited. This blend favors everyday convenience but suggests some residents travel for certain amenities. Contract rents in the neighborhood trend below the national midpoint (30th percentile), which can aid lease-up and reduce concession risk for value-driven units.
Neighborhood occupancy is around the low-90% range (48th percentile nationally), indicating a stable but competitive leasing environment. The share of housing units that are renter-occupied is high at the neighborhood level (ranked 10th of 244 metro neighborhoods; 97th percentile nationally), signaling a deep tenant base for multifamily and reinforcing demand for professionally managed rentals.
Construction across the neighborhood skews older on average (1932), while this asset s 1989 vintage is newer than much of the local stock. For investors, that typically translates into relatively stronger competitive positioning versus older walk-up inventory, with modernization projects focused on finishes, systems updates, and common-area refresh rather than full repositioning.
Demographic statistics within a 3-mile radius show households have grown in recent years and are projected to increase further even as population trends edge down, implying smaller household sizes and a larger pool of renters entering the market. Combined with a neighborhood-level value-to-income profile that makes ownership comparatively costly, this supports multifamily demand depth and potential lease retention.
Safety indicators are comparatively favorable versus national norms. The neighborhood s crime standing ranks 12th among 244 metro neighborhoods, and national percentiles for both property and violent offenses are in the Top quartile nationally. Recent year-over-year declines in estimated offense rates further support a constructive safety trend. As with any in-town location, conditions can vary block to block, but the broader neighborhood context compares well within the region.
Proximity to major employers supports workforce housing demand and commute convenience for renters. Nearby anchors include Owens-Illinois, Dana (and Dana Holding), Owens Corning, and Marathon Petroleum.
- Owens-Illinois — packaging manufacturing (9.9 miles) — HQ
- Dana — auto parts manufacturing (13.0 miles)
- Dana Holding — auto parts manufacturing (13.0 miles) — HQ
- Owens Corning — building materials (19.0 miles) — HQ
- Marathon Petroleum — energy & refining (24.0 miles) — HQ
This 36-unit, 1989-vintage asset offers relative competitiveness versus the neighborhood s older housing stock, with scope for targeted upgrades to sharpen positioning against value-oriented rentals. Neighborhood-level data point to a high renter-occupied share and occupancy near the metro middle, suggesting dependable tenant depth with room for operators to drive retention through service and unit quality. According to CRE market data from WDSuite, ownership remains comparatively costly relative to local incomes, which tends to reinforce reliance on multifamily housing.
Within a 3-mile radius, households have increased and are projected to rise further even as population modestly contracts, implying smaller household sizes and a larger renter pool over time. Restaurant density is strong while certain amenities are thinner, so property-led conveniences and updates can enhance leasing outcomes. Investors should monitor rent-to-income levels and compete thoughtfully on finishes and management to support pricing and reduce turnover.
- 1989 vintage is newer than much of the local stock, supporting competitive positioning with targeted modernization.
- High neighborhood renter-occupied share (ranked 10th of 244) indicates deep tenant demand for professionally managed rentals.
- Occupancy trends near the metro middle offer stable operations with retention-driven upside.
- 3-mile household growth and shrinking household sizes expand the renter pool, supporting lease-up and renewal prospects.
- Risks: elevated rent-to-income ratios and thinner non-restaurant amenities require disciplined pricing, finish levels, and service to sustain retention.