| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Best |
| Demographics | 52nd | Good |
| Amenities | 49th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7429 Lunitas Ln, Perrysburg, OH, 43551, US |
| Region / Metro | Perrysburg |
| Year of Construction | 1978 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
7429 Lunitas Ln Perrysburg Multifamily Opportunity
Neighborhood occupancy has held in the low-90s and renter-occupied housing accounts for a majority of units in the area, according to WDSuite’s CRE market data.
Located in Perrysburg’s inner-suburban setting within the Toledo, OH metro, the property benefits from balanced neighborhood fundamentals that support stable multifamily demand. Neighborhood occupancy trends are solid, and the local renter concentration (share of housing units that are renter-occupied) is above half, indicating a durable tenant base and consistent leasing velocity, based on CRE market data from WDSuite.
Amenity access is steady rather than destination-driven: cafes and pharmacies index around the national middle, with parks slightly better than average. Grocery access is comparable to national norms. These characteristics point to everyday convenience for residents, which typically supports retention and reduces turnover-driven downtime for owners.
At the property level, the 1978 vintage is older than the neighborhood’s average construction year (1985). For investors, that can create clear value-add pathways through systems updates and interior refreshes, while also requiring disciplined capital planning for roofs, MEPs, and common areas to remain competitive against newer stock.
Within a 3-mile radius, demographics show a stable population today with a projected increase over the next five years and a notable rise in total households alongside smaller average household sizes. This points to a gradual expansion of the renter pool and supports occupancy stability. Median contract rents in the immediate area remain moderate relative to incomes, suggesting manageable affordability pressure that can aid lease retention while allowing thoughtful, renovation-led rent positioning.
Home values in the neighborhood are lower than many U.S. submarkets, which means ownership is relatively more attainable locally. For multifamily investors, this dynamic can create some competitive pressure from entry-level ownership options, but it also supports workforce housing positioning where convenience, professional management, and flexible move-in costs sustain rental demand.
Safety indicators are mixed but generally favorable in a national context. The neighborhood sits modestly above the national median for safety (higher national percentile indicates safer areas), while trends over the past year show meaningful declines in estimated property offenses and an improvement in violent offense rates, according to WDSuite. These directional improvements are supportive for renter sentiment and leasing, though performance can vary by block and property operations.
Within the Toledo metro’s 244 neighborhoods, the area compares competitively to peers and has recent momentum. Investors should underwrite with standard precautions—focus on lighting, access control, and resident experience—to sustain occupancy and retention.
Proximity to established corporate employers supports a steady commuter renter base and helps underpin lease-up and retention. Key demand drivers nearby include Owens Corning, Owens-Illinois, and multiple Dana corporate offices.
- Owens Corning — building materials HQ (5.2 miles) — HQ
- Owens-Illinois — glass packaging HQ (6.4 miles) — HQ
- Dana — auto parts (8.1 miles)
- Dana Holding — auto parts (8.2 miles) — HQ
- Dana Holding Corporation — auto parts (9.4 miles)
This 72-unit asset combines an established 1978 vintage with a renter-heavy neighborhood profile that supports demand durability. Occupancy in the surrounding area has been resilient, and moderate rent levels relative to incomes point to manageable affordability pressure that can aid retention while enabling targeted renovation-driven rent lifts. According to CRE market data from WDSuite, neighborhood amenity access trends near national norms, helping sustain day-to-day livability without overreliance on destination retail.
The property’s older construction compared with the local average suggests a straightforward value-add thesis: address aging systems and update interiors to sharpen competitive positioning against newer supply. Within a 3-mile radius, forward-looking demographics indicate a growing household base and smaller household sizes, expanding the renter pool over time. Investors should balance these strengths with standard capex planning and awareness of local ownership alternatives given comparatively accessible home values.
- Durable demand: renter-occupied share is above half locally, supporting a broad tenant base and occupancy stability.
- Value-add pathway: 1978 vintage offers scope for systems upgrades and interior renovations to enhance NOI.
- Livability fundamentals: everyday amenities near national norms help retention and leasing consistency.
- Demand tailwind: within 3 miles, households are projected to grow with smaller sizes, expanding the renter pool.
- Risks: older building capex and relatively accessible ownership options may temper rent growth without upgrades.