| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Good |
| Demographics | 53rd | Good |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4042 Curtice Rd, Northwood, OH, 43619, US |
| Region / Metro | Northwood |
| Year of Construction | 1974 |
| Units | 76 |
| Transaction Date | 2005-01-28 |
| Transaction Price | $2,570,000 |
| Buyer | J ALVARADO PROPERTIES LL |
| Seller | WOODHURST LLC |
4042 Curtice Rd, Northwood OH Multifamily Investment
Neighborhood occupancy trends sit above national medians, and, according to WDSuite’s CRE market data, relatively low rent-to-income levels point to retention advantages for a 76-unit asset.
Competitive among Toledo neighborhoods (ranked 67 of 244), this B+ area shows stable fundamentals for workforce housing. Neighborhood occupancy is above the national median, supporting cash flow consistency, while rents benchmark in a value range that has historically maintained steady demand, per WDSuite.
Local amenity access is mixed: restaurant density trends above national norms (around the 68th percentile), groceries are moderate, and parks index in the mid-60s nationally. School quality is near the national median. These signals suggest everyday convenience without premium pricing pressure—typically constructive for lease retention in non-luxury product.
Vintage in the neighborhood averages late-1970s. With a 1974 build, the property skews slightly older than nearby stock, indicating potential value‑add via targeted renovations and systems updates to reinforce competitive positioning versus newer comparables.
Within a 3-mile radius, roughly one-quarter of housing units are renter-occupied, indicating a modest renter concentration and a stable, but not oversupplied, tenant base. Recent 3‑mile trends show near-flat population with a projected increase in households over the next five years, pointing to a larger tenant base and support for occupancy stability. Rising household incomes in the area, as tracked by WDSuite, further underpin paying capacity for well-managed units.
Home values in the neighborhood skew below national medians, which can make ownership relatively accessible. For multifamily investors, that dynamic suggests two opposing forces: some competition from entry-level ownership, but also a sustained need for more accessible rental options that can support lease retention when rent-to-income ratios remain manageable.
Safety indicators compare favorably. The neighborhood ranks 4 out of 244 across the Toledo metro for lower crime, placing it in the top quartile locally and around the 91st percentile nationally, according to WDSuite. This relative positioning often supports leasing stability and reduces operational friction compared with weaker-safety submarkets.
WDSuite’s time-series signals also show meaningful year-over-year declines in both violent and property offenses at the neighborhood level. While property-level experiences vary, these trends provide supportive context for resident retention and marketing.
Proximity to regional employers supports a steady commuter renter base, anchored by manufacturing and materials headquarters and corporate offices listed below.
- Owens Corning — building materials HQ (4.7 miles) — HQ
- Dana Holding Corporation — auto parts corporate offices (7.6 miles)
- Owens-Illinois — glass packaging HQ (11.7 miles) — HQ
- Dana Holding — auto parts HQ (12.9 miles) — HQ
This 76‑unit, 1974 vintage asset aligns with a steady, workforce-oriented neighborhood that is competitive among Toledo submarkets. Occupancy in the surrounding area trends above the national median, and rent levels pair with low rent-to-income metrics, supporting retention and measured pricing power. According to CRE market data from WDSuite, the local safety profile ranks in the metro’s upper tier and in the top decile nationally, a favorable backdrop for operations.
The property’s earlier vintage versus the neighborhood average indicates value‑add potential through unit and building system updates, while the smaller average unit size can appeal to price-sensitive renters seeking accessible monthly rents. Looking ahead, 3‑mile forecasts point to household growth that can expand the tenant base, though relatively accessible ownership options may create competitive pressure at certain rent thresholds.
- Above-median neighborhood occupancy supports cash flow stability
- 1974 vintage offers value‑add and CapEx-driven upside versus late-1970s stock
- Strong comparative safety profile aids leasing and retention
- Smaller average unit sizes align with demand for accessible rents
- Risk: relatively accessible homeownership can compete with rentals at entry price points