| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Good |
| Demographics | 53rd | Good |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2434 Tracy Rd, Northwood, OH, 43619, US |
| Region / Metro | Northwood |
| Year of Construction | 1976 |
| Units | 96 |
| Transaction Date | 2002-11-27 |
| Transaction Price | $3,000,000 |
| Buyer | DOUGLAS MANOR LTD |
| Seller | STRATFORD APARTMENTS LLC |
2434 Tracy Rd Northwood Multifamily Investment
Neighborhood occupancy trends are stable and above the national median, according to WDSuite’s CRE market data, supporting steady renter demand around Northwood. Pricing remains relatively accessible for workforce tenants, which can aid lease retention and limit volatility.
Located in the Toledo metro, the neighborhood around 2434 Tracy Rd rates competitive among 244 Toledo neighborhoods, with a B+ overall score. Restaurant and park access score above national midpoints, while cafes and pharmacies are thinner locally—factors to weigh when positioning amenities and services for residents.
Neighborhood occupancy is in the upper half nationally, which can underpin leasing stability for nearby assets. Median contract rents remain moderate relative to income levels, suggesting room to sustain demand without overextending residents—an important consideration for renewal management and pricing power.
Within a 3-mile radius, demographics indicate a balanced age mix and a renter-occupied share near half of housing units, pointing to a deep tenant base for multifamily. While the recent period showed flat-to-soft population trends, forward projections call for growth in both population and households, implying a larger renter pool and support for occupancy over time.
School ratings sit around the national middle, and neighborhood home values are lower than in high-cost metros. For investors, a more accessible ownership market can introduce some competition with entry-level home purchases, but also supports steady workforce housing demand and potential for durable leasing in well-managed assets.
Safety indicators for the surrounding neighborhood compare favorably at the national level, with measures landing in the top quartile among neighborhoods nationwide. Recent data also shows pronounced year-over-year declines in both property and violent offense rates, reinforcing an improving trend rather than a one-off change.
As always, safety can vary by block and over time. Investors should review current local reports and property-level security measures, but the broader trajectory points to comparatively strong and improving conditions relative to many U.S. neighborhoods.
The area benefits from proximity to established corporate offices that support steady renter demand through commute convenience, including Owens Corning, Dana Holding Corporation, Owens-Illinois, Dana, and Dana Holding.
- Owens Corning — corporate offices (2.5 miles) — HQ
- Dana Holding Corporation — corporate offices (6.6 miles)
- Owens-Illinois — corporate offices (8.3 miles) — HQ
- Dana — corporate offices (9.0 miles)
- Dana Holding — corporate offices (9.0 miles) — HQ
For multifamily investors, the Northwood location offers steady renter demand supported by neighborhood occupancy that trends above the national median and rents that remain manageable relative to incomes. Based on CRE market data from WDSuite, amenity access is mixed but adequate, with stronger coverage in restaurants and parks and thinner coverage for cafes and pharmacies—useful inputs for value-add planning and resident services.
Within a 3-mile radius, projections indicate population and household growth, implying renter pool expansion over the next several years. A more accessible ownership landscape may create some competition from entry-level homebuyers, but it also supports workforce housing dynamics and can anchor retention for well-maintained, appropriately priced assets.
- Neighborhood occupancy above the national median supports leasing stability and renewal performance.
- Rents remain moderate relative to incomes, aiding retention and disciplined rent growth strategies.
- 3-mile forecasts point to population and household growth, expanding the tenant base.
- Mixed amenity coverage presents targeted value-add opportunities in services and community programming.
- Risk: accessible ownership options can compete with rentals; underwriting should account for pricing and retention tactics.