| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Good |
| Demographics | 50th | Good |
| Amenities | 13th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 42 Washington St, Salineville, OH, 43945, US |
| Region / Metro | Salineville |
| Year of Construction | 1984 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
42 Washington St Salineville Multifamily Investment, 25 Units
Neighborhood occupancy trends sit around regional norms while renter demand is modest yet durable for workforce housing, according to WDSuite’s CRE market data. These neighborhood metrics reflect the surrounding area rather than the property and suggest steady leasing with disciplined rent management.
Salineville is a rural submarket within the Salem, OH metro where day-to-day convenience is limited and car reliance is typical. Neighborhood amenity density ranks 21 out of 51 metro neighborhoods (below the metro median) with sparse cafes, childcare, parks, and pharmacies, and a few restaurants and grocery options nearby. For investors, this leans toward stable workforce housing rather than lifestyle-driven demand.
Rents in the neighborhood track the lower end of the metro, and neighborhood occupancy is near the middle of national peers, reflecting above-metro-median vacancy risk but not outsized volatility. The neighborhood’s occupancy rate ranks 30 of 51 (around the metro median), while the rent-to-income positioning is mid-pack nationally, supporting retention but limiting near-term pricing power.
The asset’s vintage matters: built in 1984, it is newer than the neighborhood’s older housing stock (average vintage around the early 1950s). That positioning can be competitively advantageous versus older properties; however, investors should plan for targeted system updates or light renovations to keep the property aligned with renter expectations.
Tenure dynamics point to a manageable but not deep renter base. At the neighborhood level, renter-occupied share sits in the upper half of national peers, indicating a viable tenant pool for multifamily without an oversupply of renters. Within a 3-mile radius, demographic data show modest population contraction and slightly smaller household sizes, which can translate to a steady but measured pipeline of prospective renters rather than rapid expansion. These 3-mile trends imply measured demand, supporting occupancy stability with prudent leasing strategy.
Home values in the area are lower relative to many U.S. markets, which can increase competition from ownership options. For multifamily owners, this typically means sustained leasing from households favoring rental flexibility, but rent growth should be set with local affordability in mind to protect retention and minimize turnover.
Safety compares favorably versus both the metro and many U.S. neighborhoods. The neighborhood’s crime rank is 5 out of 51 metro neighborhoods, placing it in the top quartile locally. Nationally, safety indicators land in the higher percentiles (property and violent offense measures both sit well above the national median), suggesting comparatively safer conditions than many neighborhoods nationwide.
Recent trend data also point to improvement, with estimated offense rates moving lower year over year. As always, investors should evaluate property-level protocols and insurance assumptions, but the neighborhood context is a relative strength in underwriting.
Regional employment anchors within commuting reach can support leasing stability, particularly for workforce renters. The nearby base includes distribution, transportation, healthcare products, and financial services employers.
- Dick's Sporting Goods — retail corporate operations (31.3 miles) — HQ
- Erie Insurance Group — insurance (34.9 miles)
- Norfolk Southern — rail & logistics offices (36.7 miles)
- Cardinal Health — healthcare products distribution (38.6 miles)
This 25-unit 1984 vintage asset offers workforce housing positioned against an older local stock, providing relative competitiveness while still benefiting from selective renovations to enhance yield. Neighborhood occupancy sits around the metro median, and rent levels that skew affordable support tenant retention more than outsized rent growth, per commercial real estate analysis from WDSuite. Amenity scarcity and rural location emphasize car-based living, favoring stable, needs-based demand rather than lifestyle-driven turnover.
3-mile demographics indicate a smaller, gradually contracting tenant pool with household sizes edging down, which argues for conservative leasing assumptions and focus on retention. Lower local home values suggest some competition from ownership, but also reinforce the case for value-oriented multifamily where well-maintained units and reliable operations can sustain occupancy and cash flow.
- 1984 vintage is newer than much of the area stock, creating light value-add and operational upgrade potential.
- Neighborhood occupancy near metro median supports steady leasing with prudent rent setting.
- Workforce demand drivers and attainable rents favor retention over turnover-driven growth.
- Rural amenity depth is limited; underwriting should reflect measured demand and car-reliant living.
- Demographic headwinds (smaller renter pool) and ownership competition are key risks requiring disciplined operations.