| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Best |
| Demographics | 48th | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 995 S Main St, Bowling Green, OH, 43402, US |
| Region / Metro | Bowling Green |
| Year of Construction | 1974 |
| Units | 63 |
| Transaction Date | 2022-04-14 |
| Transaction Price | $3,240,000 |
| Buyer | VANDELAY COMMERCIAL ENTERPRISES LLC |
| Seller | LAMPLIGHT COURT APARTMENTS LIMITED |
995 S Main St Bowling Green Multifamily Investment
Neighborhood occupancy runs high with stability that has outperformed broader trends, according to WDSuite’s CRE market data, supporting consistent cash flow potential. A substantial renter-occupied presence within a 3-mile radius reinforces depth of tenant demand for a 63-unit asset.
The property sits in an Inner Suburb location within the Toledo metro that is rated A and ranks 23rd among 244 metro neighborhoods, indicating performance that is competitive among Toledo neighborhoods. Neighborhood occupancy trends are strong and place the area in the top quartile nationally, a constructive backdrop for maintaining leased units and lowering turnover risk.
Local livability supports renter appeal. Restaurant and cafe density track above national norms (both in the 80th-percentile range), with grocery and park access also above average. School ratings are below national midpoints, which can influence family-oriented leasing, but the immediate trade area remains functional for day-to-day needs. One gap to note is limited pharmacy presence within the neighborhood.
Within a 3-mile radius, demographics show smaller household sizes and a rising household count despite flat-to-soft population trends, pointing to more households seeking housing options and a steady renter pool. The area’s renter-occupied share around 69% suggests depth for multifamily demand and supports occupancy stability for professionally managed properties.
Homeownership costs compare high relative to local incomes on a national basis, which tends to sustain reliance on rentals and support lease retention. At the same time, rent levels sit at more moderate bands and rent-to-income metrics are comparatively manageable, implying balanced affordability pressures and measured pricing power rather than outsized rent growth.
Safety indicators for the neighborhood compare favorably in a national context. Violent-offense risk trends in the top decile nationwide and has improved year over year, while property-offense measures align closer to the top quartile nationally. Within the Toledo metro, these outcomes place the neighborhood above the median among 244 neighborhoods. As always, investors should pair these comparative signals with current property-level security measures and recent local reporting.
Regional employment anchors within commutable distance include Owens-Illinois, Dana, Dana Holding, Owens Corning, and Marathon Petroleum. This mix of manufacturing, materials, and energy headquarters and offices supports renter demand through steady commuter flows and diversified wage bases.
- Owens-Illinois — glass packaging (11.6 miles) — HQ
- Dana — auto parts (14.6 miles)
- Dana Holding — auto parts (14.6 miles) — HQ
- Owens Corning — building materials (20.6 miles) — HQ
- Marathon Petroleum — energy refining (22.3 miles) — HQ
This 63-unit asset benefits from a neighborhood that ranks competitively within the Toledo metro and posts occupancy in the top quartile nationally, supporting stable rent rolls and lower downtime risk. Nearby amenities are solid for daily living, and a large renter-occupied base within 3 miles provides depth to the tenant pipeline. According to CRE market data from WDSuite, homeownership costs relative to local incomes are elevated on a national basis, a context that often sustains multifamily demand and lease retention.
Forward-looking dynamics point to a growing household count even as population trends soften, signaling smaller household sizes and ongoing renter pool support. Rent-to-income levels skew more manageable than in high-cost metros, which favors retention and steady renewal strategies, though it also suggests measured pricing power. Investors should also weigh below-average school scores and mixed property-crime trends in risk assessment and asset management planning.
- Competitive Toledo submarket with top-quartile neighborhood occupancy supporting leasing stability
- Deep renter base within 3 miles reinforces tenant demand and lease-up resilience
- Elevated ownership costs versus incomes bolster reliance on rentals and retention
- Household growth amid smaller sizes supports ongoing renter pool expansion
- Risks: below-average school ratings and mixed property-crime trends may require proactive management