| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 46th | Fair |
| Amenities | 69th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 14909 Hummel Rd, Brook Park, OH, 44142, US |
| Region / Metro | Brook Park |
| Year of Construction | 1993 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
14909 Hummel Rd Brook Park 120-Unit Multifamily Opportunity
Neighborhood fundamentals point to steady renter demand and high occupancy, according to WDSuite’s CRE market data. Metrics such as occupancy and renter concentration are measured for the surrounding neighborhood, not this property, and indicate stable operations for well-positioned assets.
Brook Park’s neighborhood shows resilient occupancy and everyday convenience that support multifamily performance. The neighborhood’s occupancy ranks 82 out of 569 within the Cleveland–Elyria metro (top quartile locally) and sits in the 91st percentile nationally, suggesting durable lease-up and retention for competitive assets. Renter-occupied housing is a smaller share locally (20.6% of units), pointing to an owner-leaning area where quality rentals can stand out and capture a defined tenant base rather than relying on heavy concessions.
Amenities skew toward daily needs and quick dining access. Restaurant density ranks 32 of 569 metro neighborhoods (91st percentile nationally), while grocery (82nd percentile), pharmacy (78th), parks (79th), and childcare (86th) show broad coverage. This mix typically supports day-to-day livability, commute efficiency, and leasing stability without requiring urban-core tradeoffs. These comparisons are for the neighborhood, not the property itself.
Relative pricing and incomes suggest manageable renter affordability and solid renewal potential. Neighborhood median contract rents track near the U.S. middle (56th percentile), and the rent-to-income ratio is below the national median, a dynamic that can ease affordability pressure and underpin retention. At the same time, lower home values versus national norms (23rd percentile) mean ownership is comparatively accessible, which can introduce competition for some renter cohorts—placing a premium on maintaining unit quality and service levels.
Within a 3-mile radius, demographics are stable with signs of forward demand. Recent years show essentially flat population and a modest increase in households, while WDSuite’s projections indicate population growth and a notable increase in households alongside smaller average household size. For investors, that pattern typically expands the renter pool and supports occupancy and leasing velocity for well-maintained communities.
Safety trends in the neighborhood are mixed but improving in key areas. The neighborhood’s crime rank is 360 out of 569 within the Cleveland–Elyria metro, indicating below metro median safety, and it sits below the national median. However, year-over-year estimates show declines in both violent and property offenses, with violent incidents improving at a pace that is better than many areas nationally. These figures reflect neighborhood-level patterns, not property-level conditions, and should be weighed alongside on-the-ground diligence.
Proximity to regional employers underpins renter demand by shortening commutes and broadening the weekday tenant base. Nearby nodes include Texas Instruments, TravelCenters of America, Airgas Merchant Gases, Sherwin-Williams, and KeyCorp—providing a mix of engineering, logistics, and corporate roles aligned with workforce housing needs.
- Texas Instruments — semiconductor offices (5.2 miles)
- Travelcenters Of America — travel services & logistics (5.9 miles) — HQ
- Airgas Merchant Gases — industrial gases (8.1 miles)
- Sherwin-Williams — coatings & corporate offices (8.3 miles) — HQ
- Keycorp — banking & corporate offices (8.5 miles) — HQ
14909 Hummel Rd offers scale at 120 units in a neighborhood that has historically maintained strong occupancy and everyday convenience. Built in 1993, the asset is newer than the local average vintage, which can support competitive positioning versus older stock while leaving room for targeted modernization of interiors and common areas. Neighborhood rents sit near national midpoints and rent-to-income readings are comparatively manageable, a combination that can support retention and steady collections as leasing strategies focus on value and service. According to commercial real estate analysis from WDSuite, neighborhood occupancy trends remain stronger than many peers in the metro, signaling stable demand for well-operated communities.
Within a 3-mile radius, households have grown modestly and are projected to expand further alongside a smaller average household size—conditions that typically enlarge the renter pool and aid lease-up. While lower area home values can introduce some competition from entry-level ownership, nearby employment centers and improving safety trends help underpin renter demand. Investors should underwrite routine capital needs associated with a 1990s vintage and calibrate amenity and finish levels to remain competitive against both renovated comparables and ownership alternatives.
- Occupancy strength at the neighborhood level supports stable leasing and renewals
- 1993 vintage offers competitive positioning versus older stock with selective value-add potential
- Amenity coverage (dining, grocery, parks, childcare) supports livability and retention
- 3-mile outlook indicates household growth and a larger renter pool over time
- Risks: owner-leaning area and below-median safety require competitive pricing, upkeep, and active management