| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 23rd | Poor |
| Demographics | 39th | Fair |
| Amenities | 19th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 220 Sprigg St, North Baltimore, OH, 45872, US |
| Region / Metro | North Baltimore |
| Year of Construction | 1986 |
| Units | 90 |
| Transaction Date | 1985-11-26 |
| Transaction Price | $63,000 |
| Buyer | WESTHAVEN INC |
| Seller | --- |
220 Sprigg St, North Baltimore OH Multifamily Opportunity
Positioned in a rural Toledo submarket, the property targets renters seeking value and commute access, with neighborhood occupancy steady relative to the metro according to WDSuite’s CRE market data.
Livability is defined by small-town dynamics and access to the wider Toledo, OH region. At the neighborhood level, amenities are limited (few cafes, groceries, and parks), though pharmacy access is a relative strength versus national peers. Average school ratings sit around the national midpoint, offering a baseline appeal for households without commanding a premium.
For investors, rent and occupancy signals are the core story. Neighborhood occupancy is near the national middle, supporting day‑to‑day leasing stability; median contract rents sit on the lower end locally, reinforcing retention and measured pricing power rather than rapid growth. The rent‑to‑income profile indicates modest affordability pressure, which can help sustain renewals.
Housing stock in this neighborhood skews older on average, which makes a 1986 vintage comparatively newer than much of the surrounding inventory—useful for competitive positioning, while leaving room for targeted modernization to drive NOI. Renter-occupied share at the neighborhood and 3‑mile scale remains a minority of units, so demand is oriented to workforce renters and value seekers; this typically supports consistent absorption for well-managed assets.
Within a 3‑mile radius, demographic statistics show relatively stable population with a modest increase in households over recent years and forecasts pointing to further household expansion. That translates to a larger tenant base over time, which can support occupancy and rent growth. This local context, paired with regional employment access, underpins the investment case for durable workforce housing. These dynamics align with observations surfaced through commercial real estate analysis in WDSuite’s data.
Safety indicators compare favorably at the national level. The neighborhood sits in the upper quartile nationwide for lower estimated violent and property offense rates, and recent year-over-year trends show notable declines in both categories—an encouraging signal for tenant retention and long-term operations.
As with any rural submarket, conditions can vary by micro‑area and over time. Investors should incorporate standard diligence (property-level history, lighting, access control, and local enforcement engagement) to maintain the current trajectory.
Regional employers within commuting distance help anchor renter demand, led by energy, packaging, automotive, and building materials headquarters that offer diverse, year‑round employment.
- Marathon Petroleum — energy (10.1 miles) — HQ
- Owens-Illinois — packaging (24.1 miles) — HQ
- Dana Holding — automotive (26.8 miles) — HQ
- Owens Corning — building materials (33.2 miles) — HQ
The 90‑unit, 1986‑vintage asset offers scale in a rural Toledo submarket where neighborhood occupancy trends sit near national midpoints and rents remain accessible—factors that support steady leasing and renewal rates. Relative to older local stock, this vintage can compete on livability with targeted upgrades to common areas, systems, and interiors to unlock value‑add upside over time.
Workforce demand is reinforced by proximity to several regional headquarters and a rent‑to‑income profile that suggests manageable affordability pressure. According to CRE market data from WDSuite, neighborhood-level rent growth has been measured and occupancy resilient, suggesting investors should underwrite stable cash flow with modernization-driven upside rather than outsized near‑term rent gains.
- Competitive vintage versus older neighborhood stock, with clear modernization paths
- Steady neighborhood occupancy supports day‑to‑day leasing stability
- Workforce renter base supported by nearby HQ employers and commute access
- Managed affordability pressures can aid retention and pricing discipline
- Risks: limited neighborhood amenities and measured rent growth require operational focus