| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Fair |
| Demographics | 51st | Fair |
| Amenities | 13th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 600 Turney Rd, Bedford, OH, 44146, US |
| Region / Metro | Bedford |
| Year of Construction | 1988 |
| Units | 115 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
600 Turney Rd Bedford Multifamily Investment Opportunity
Neighborhood-level occupancy is in the upper half nationally, supporting steady renter demand, according to WDSuite’s CRE market data, while a high share of renter-occupied housing indicates depth in the local tenant base.
Located in Bedford’s Inner Suburb fabric of the Cleveland–Elyria metro, the area offers everyday connectivity and workforce housing dynamics rather than destination retail. Amenity density ranks below the metro median, though pharmacy access stands out, testing stronger than many neighborhoods nationally. For investors, this suggests residents rely on nearby corridors for shopping and services, with commute convenience and price point doing more of the leasing work than lifestyle retail.
Renter concentration is elevated — a top quartile national position for the share of housing units that are renter-occupied — which supports a deeper tenant base and leasing resiliency for multifamily assets. Neighborhood occupancy trends sit in the upper half of U.S. neighborhoods, signaling generally stable absorption and potential to sustain performance through typical leasing seasons.
Within a 3-mile radius, demographics show modest population growth recently with further gains projected by 2028, alongside an increase in total households. This points to a gradually expanding renter pool and supports occupancy stability. Median contract rents benchmark near the national middle, which, paired with moderate rent-to-income levels, can aid retention and reduce turnover risk relative to higher-cost submarkets.
Home values in the immediate area are lower than many U.S. neighborhoods, which can introduce some competition from ownership options. However, this price context also supports workforce-oriented demand and helps sustain renter reliance on multifamily housing when factoring in mobility, credit, and down payment hurdles. Overall income and NOI per unit indicators trail stronger national performers, so asset selection and operational execution remain important levers to meet return thresholds.
Safety indicators compare favorably versus many U.S. neighborhoods on aggregate, with overall crime levels testing in the better-than-average national range. Violent-offense measures sit closer to the national middle, while property-offense measures track above the national middle. Recent year-over-year trends show meaningful declines in both violent and property incidents, reinforcing an improving trajectory, based on WDSuite’s data.
At the metro-neighborhood level (569 neighborhoods), the area is competitive among Cleveland–Elyria peers on several safety dimensions. As always, investors should consider submarket and corridor-level patterns when underwriting nighttime activity, security measures, and insurance assumptions.
Proximity to industrial and corporate nodes underpins workforce housing demand and short commutes, led by Airgas Merchant Gases, Norfolk Southern Motor Yard, Home Depot Distribution Center, and headquarters functions at Parker-Hannifin and Sherwin-Williams.
- Airgas Merchant Gases — industrial gases (4.3 miles)
- Norfolk Southern Motor Yard — rail operations (4.5 miles)
- Home Depot Distribution Center — distribution (5.1 miles)
- Parker-Hannifin — diversified manufacturing (9.4 miles) — HQ
- Sherwin-Williams — coatings & chemicals (9.9 miles) — HQ
Built in 1988, the property is newer than the neighborhood’s average vintage, offering competitive positioning versus older stock while still leaving room for targeted modernization of common areas and systems to drive rentability. Neighborhood occupancy trends are in the upper half nationally and the share of renter-occupied units sits in the top quartile, pointing to a solid tenant base and support for leasing stability. According to CRE market data from WDSuite, median rents track near the national middle and rent-to-income levels are manageable, which can aid retention and limit concessions through typical seasonality.
Within a 3-mile radius, recent population gains and a projected increase in households by 2028 indicate a gradually expanding renter pool. Amenity depth is thinner locally, placing more weight on price-to-product fit and proximity to employment nodes, but nearby corporate and industrial employers help sustain demand. Underwriting should account for operating execution in a value-oriented submarket and monitor safety trends that, while improving, sit nearer the national middle on violent indicators.
- 1988 vintage offers competitive positioning versus older stock, with modernization upside
- Upper-half neighborhood occupancy and high renter concentration support leasing stability
- Workforce price point and manageable rent-to-income aid retention and cash flow consistency
- Proximity to industrial and corporate employers underpins steady tenant demand
- Risks: thinner local amenities, below-peak NOI benchmarks, and safety metrics nearer the national middle