| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Best |
| Demographics | 75th | Best |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 900 Tollis Pkwy, Broadview Heights, OH, 44147, US |
| Region / Metro | Broadview Heights |
| Year of Construction | 1985 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
900 Tollis Pkwy Broadview Heights Multifamily Investment
Neighborhood occupancy is high and has trended upward, supporting stable leasing conditions for nearby assets, according to WDSuite’s CRE market data. With mid-market rents and solid household incomes in the area, the immediate takeaway for investors is resilience and retention potential rather than outsized volatility.
The property sits in an A- rated, suburban neighborhood within the Cleveland–Elyria metro. Neighborhood occupancy is strong (80th percentile nationally) and has improved over the past five years, signaling durable renter demand at the submarket level rather than transient lease-ups. Median asking rents in the neighborhood sit near the national midpoint, which helps support consistent absorption without requiring deep concessions.
Within a 3-mile radius, households have grown while average household size has edged lower, and projections call for continued increases in household count through 2028. Even with a modest near-term population dip forecast at the radius level, more households typically translate into a larger tenant base and supports occupancy stability for multifamily. Income levels are healthy in this radius, which can underpin renter credit quality and limit turnover risk.
The renter-occupied share in the neighborhood is around one-quarter of housing units, indicating a moderate renter concentration that can sustain demand for smaller, well-located communities. A rent-to-income ratio near 0.11 suggests relatively low affordability pressure for typical tenants, offering owners room to emphasize retention while pursuing measured rent optimization through renewals and light upgrades.
Local amenity access is mixed: restaurants and grocery options track around the upper half nationally, and park access trends higher, while cafes and pharmacies are limited in the immediate neighborhood. School rating details are not available in this dataset. For investors, the takeaway is a livable suburban location with essential services and recreation close by, supporting day-to-day convenience without relying on marquee urban amenities.
Relative safety indicators are favorable. The neighborhood’s crime ranking places it competitive among Cleveland–Elyria neighborhoods (rank 54 out of 569), and national comparisons sit in the top quartile for overall safety. Property and violent offense estimates also benchmark above national averages, and recent year-over-year trends show notable improvement, reinforcing stability rather than deterioration.
As always, conditions can vary by block and over time; investors should corroborate on-the-ground patterns, but current readings suggest safety is a supportive—not limiting—factor for renter demand in this location.
Proximity to a diversified employment base supports workforce housing demand and commute convenience, including industrial gases, rail operations, coatings, and financial services offices and headquarters noted below.
- Airgas Merchant Gases — industrial gases (5.4 miles)
- Norfolk Southern Motor Yard — rail operations (9.2 miles)
- Sherwin-Williams — coatings & corporate offices (11.6 miles) — HQ
- PNC Center — banking offices (11.8 miles)
- Keycorp — financial services (11.9 miles) — HQ
This 24-unit asset benefits from a suburban A- neighborhood with historically high occupancy and mid-market rents, pointing to steady absorption and renewal potential rather than outsized volatility. Within a 3-mile radius, household counts have risen and are projected to continue increasing as average household size declines, which typically expands the renter pool and supports leasing stability for smaller-unit communities.
Income strength and a low rent-to-income ratio at the neighborhood level suggest manageable affordability pressure and room for disciplined rent growth, according to CRE market data from WDSuite. Amenity access skews toward essentials (grocery, parks, restaurants), and proximity to diversified employers helps underpin day-to-day demand. Risks to underwrite include limited café/pharmacy density and an ownership market that is relatively accessible, which can create some competition with for-sale options, along with mixed population trends at the radius level.
- High neighborhood occupancy and improving trend support strong renewal and lease-up performance
- 3-mile household growth and projected increases point to a larger tenant base over time
- Low rent-to-income dynamics indicate manageable affordability pressure and retention potential
- Diversified employers within commuting distance help sustain steady demand
- Risks: limited café/pharmacy density, relatively accessible ownership options, and mixed population projections