| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 27th | Poor |
| Demographics | 44th | Fair |
| Amenities | 22nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1229 McCutcheonville Rd, Fostoria, OH, 44830, US |
| Region / Metro | Fostoria |
| Year of Construction | 1976 |
| Units | 24 |
| Transaction Date | 2005-04-29 |
| Transaction Price | $1,400,000 |
| Buyer | M & J INVESTMENT PROPERTIES LLC |
| Seller | JMC PROPERTIES LLC |
1229 McCutcheonville Rd Fostoria Value-Add Multifamily
Positioned for workforce demand at accessible rents, the asset benefits from a growing renter-occupied share within the 3-mile radius, according to WDSuite’s CRE market data.
Located in Fostoria within the Toledo, OH metro, the neighborhood carries a C+ rating and a Rural profile. Amenity access is below the metro median (ranked 127 of 244 neighborhoods) and sits below national averages, while park access trends closer to the middle of the pack nationally. For investors, this suggests car-oriented living with modest convenience retail and services nearby.
Neighborhood occupancy is below the metro median (ranked 193 of 244), indicating leasing may require sharper pricing and management, but accessible rents and steady blue-collar demand can help sustain performance. Median contract rents in the neighborhood remain comparatively low versus the metro and nation, which supports retention and minimizes affordability pressure for existing tenants.
Within a 3-mile radius, demographics point to a stable tenant base: recent population growth has been modest, and households are projected to increase even as household size eases, expanding the pool of renters entering the market. The current renter-occupied share is about one-third of units and is projected to rise toward the low-40% range, implying a deeper tenant base that can support occupancy stability over time.
Home values in the neighborhood are comparatively low versus national benchmarks, which can create some competition from ownership options. For multifamily owners, this typically argues for an emphasis on value, convenience, and turn-key living to sustain lease retention and minimize move-outs to for-sale housing.
Safety signals are mixed and should be considered in context. Within the Toledo metro, the neighborhood’s crime rank (74 out of 244 neighborhoods, where lower ranks indicate higher crime) suggests crime levels are elevated relative to many local peers. Nationally, however, WDSuite’s data places the area in a safer-than-average position overall, indicating conditions that are competitive among many U.S. neighborhoods.
Recent trends are noteworthy: property offense rates have declined sharply year over year, while violent offense metrics have been more volatile. For investors, monitoring trajectory and submarket-level patterns—rather than block-level anecdotes—can help calibrate leasing strategy and after-hours operations.
Regional employment anchors within commuting distance include energy, glass manufacturing, automotive, and building materials headquarters and offices that support workforce housing demand.
- Marathon Petroleum — energy & refining (15.1 miles) — HQ
- Owens-Illinois — glass packaging (27.2 miles) — HQ
- Dana — automotive systems (30.7 miles)
- Dana Holding — automotive systems (30.7 miles) — HQ
- Owens Corning — building materials (33.2 miles) — HQ
Built in 1976, the property offers clear value-add potential through modernization and targeted capital planning, positioning it competitively against older 1970s stock common in the area. According to CRE market data from WDSuite, neighborhood occupancy trails the metro median, but accessible rents and an expanding renter pool within the 3-mile radius can help underpin leasing durability.
Local home values remain relatively low compared with national benchmarks, which can increase competition from entry-level ownership. Even so, rent-to-income levels indicate manageable affordability pressure, supporting retention and steady collections when paired with operational discipline. Forward-looking demographics show households rising and household sizes easing, which typically supports multifamily demand and smaller-unit absorption over time.
- 1976 vintage with renovation and systems-upgrade upside for value-add returns
- Accessible rents support tenant retention and consistent collections
- 3-mile radius shows rising renter share and increasing households, expanding the tenant base
- Proximity to regional employers supports workforce demand and commute convenience
- Risk: neighborhood occupancy below metro median and competition from accessible ownership options