| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Best |
| Demographics | 57th | Good |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 921 Thurstin St, Bowling Green, OH, 43402, US |
| Region / Metro | Bowling Green |
| Year of Construction | 1990 |
| Units | 36 |
| Transaction Date | 1988-09-22 |
| Transaction Price | $126,000 |
| Buyer | MAURER ROBERT W |
| Seller | --- |
921 Thurstin St Bowling Green Multifamily Investment
High renter-occupied housing in the surrounding neighborhood supports a deep tenant base and steady leasing, according to WDSuite’s CRE market data.
Neighborhood & Demand Drivers
The property’s 1990 vintage is newer than much of the area’s housing, which skews earlier in the century. That can provide competitive positioning versus older stock, while investors should still plan for targeted modernization and system upgrades as part of capital planning.
Amenity access is mixed. Restaurant density is strong against national peers, and grocery availability tracks well above national norms, supporting day-to-day convenience. By contrast, parks, pharmacies, and cafes are limited locally, which may slightly reduce walkable lifestyle appeal. Within the Toledo metro, overall amenity access is competitive among 244 neighborhoods.
Occupancy at the neighborhood level trends near the metro median, indicating generally stable—though not overly tight—leasing conditions. The share of housing units that are renter-occupied is high relative to both metro and national benchmarks, reinforcing depth of the tenant base and demand resiliency for multifamily assets.
Demographic statistics are aggregated within a 3-mile radius. Recent history shows household counts rising even as population edged lower, pointing to smaller household sizes and a meaningful young adult presence—factors that typically expand the renter pool and support occupancy stability. Forecasts call for continued household growth and further declines in average household size, which can underpin future leasing.
Home values are elevated relative to local incomes, a context that tends to sustain reliance on rental housing and supports retention. At the same time, rent-to-income levels signal some affordability pressure, suggesting an emphasis on value-driven amenities and lease management to balance pricing power with retention risk.
Safety Context
Compared with U.S. neighborhoods, the area trends in higher safety percentiles, while within the Toledo metro it ranks 12 out of 244 neighborhoods for crime (a lower rank indicates more incidents). For investors, this suggests perceptions may be stronger versus national benchmarks but comparatively less favorable against some metro peers.
Estimated violent and property offenses have declined year over year, indicating an improving trend. Maintaining strong property-level lighting, access control, and coordination with local resources can further support resident confidence and retention.
Anchor Employers
Proximity to regional corporate offices supports renter demand through commute convenience and employment diversity, including packaging, industrial, and building materials employers listed below.
- Owens-Illinois — corporate offices (9.9 miles) — HQ
- Dana — corporate offices (12.9 miles)
- Dana Holding — corporate offices (12.9 miles) — HQ
- Owens Corning — corporate offices (18.9 miles) — HQ
- Dana Holding Corporation — corporate offices (22.9 miles)
Why Invest
This 36-unit, 1990-built asset benefits from a neighborhood with a high share of renter-occupied housing and occupancy near the metro median—conditions that typically support steady leasing and renewals. According to commercial real estate analysis from WDSuite, elevated ownership costs relative to incomes help reinforce rental demand, while strong restaurant and grocery density bolster daily convenience even as certain amenities (parks, pharmacies) remain thin.
Within a 3-mile radius, household counts have been rising despite modest population contraction, and forecasts call for additional household growth alongside smaller household sizes—dynamics that generally expand the renter pool. Newer vintage versus much of the local stock provides competitive positioning, with potential value-add through targeted interiors, common-area refreshes, energy-efficiency upgrades, and programming suited to smaller-average unit sizes and younger renter cohorts.
- High renter concentration supports demand depth and leasing stability.
- 1990 vintage offers a competitive edge versus older neighborhood stock, with room for value-add.
- Household growth and smaller household sizes in the 3-mile area expand the renter pool.
- Risks: affordability pressure (rent-to-income), thinner park/pharmacy access, and turnover management for younger cohorts.