| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Best |
| Demographics | 33rd | Poor |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1725 E 115th St, Cleveland, OH, 44106, US |
| Region / Metro | Cleveland |
| Year of Construction | 2012 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1725 E 115th St Cleveland Multifamily Investment
2012-vintage asset in an older Inner Suburb pocket where renter-occupied housing is a meaningful share of units, according to WDSuite’s CRE market data. Neighborhood rents and amenities support steady leasing potential while ownership costs relative to local incomes point to durable reliance on rentals.
This address sits in a B-rated Inner Suburb neighborhood that is competitive among Cleveland-Elyria neighborhoods (rank 225 of 569). Local housing stock skews older (average 1944), positioning a 2012 build as relatively modern versus nearby inventory — a potential edge for leasing and retention.
Amenity access is a clear strength: restaurant density ranks near the top of the metro and is in the 98th percentile nationally, with grocery options also strong (96th percentile). Cafés are plentiful as well (90th percentile). By contrast, nearby parks, pharmacies, and formal childcare options are limited within neighborhood boundaries, so residents may rely on offerings in adjacent areas. These dynamics can influence tenant expectations around on-site features and walkability.
The neighborhood’s renter-occupied share is high (65.3%), signaling a deep tenant base for multifamily. However, neighborhood occupancy is below national norms and has trended down in recent years, so investors should underwrite to conservative lease-up and renewal assumptions and focus on property-level differentiation. For investors conducting multifamily property research, the combination of a large renter pool and newer construction can support relative competitiveness.
Ownership costs appear elevated relative to local incomes (value-to-income ratio ranks among the highest nationally), which tends to sustain reliance on rental housing and can support pricing power at well-managed properties. Neighborhood median incomes lag metro norms, reinforcing the importance of unit mix, concessions strategy, and affordability positioning to maintain leasing velocity.
Safety indicators are mixed and should be evaluated with current, property-level information. Compared with neighborhoods nationwide, reported violent and property offenses for the neighborhood fall below national norms (around the 11th–14th percentiles), indicating higher incident rates than many peer areas. Recent trend data shows a year-over-year decline in estimated property offenses, while estimated violent offenses increased; investors may consider security, lighting, and access control in underwriting and operations.
Within the Cleveland-Elyria metro, the neighborhood’s crime profile tracks on the higher side relative to many of the 569 neighborhoods, so comparative comps and daytime population patterns are relevant context for leasing strategy and insurance budgeting.
Proximity to major corporate offices supports a sizable renter workforce, with finance, manufacturing, and insurance employers within a short commute. The following nearby employers anchor daytime demand relevant to leasing and retention at this location.
- Time Warner Cable Payment Center — corporate offices (3.5 miles)
- PNC Center — financial services (4.5 miles)
- KeyCorp — financial services (4.7 miles) — HQ
- Sherwin-Williams — coatings & manufacturing (4.8 miles) — HQ
- Parker-Hannifin — industrial & engineering (7.4 miles) — HQ
Built in 2012 with 36 units and notably large average unit sizes, this property offers a modern alternative in a neighborhood dominated by older stock. A high share of renter-occupied housing in the neighborhood points to a deep tenant base, while nearby corporate employers provide steady demand drivers. According to CRE market data from WDSuite, the neighborhood’s occupancy trends are softer, so property-level quality and operations will be key to maintaining stability.
Within a 3-mile radius, forecasts show household growth and income gains over the next five years alongside rising median contract rents, indicating a potential expansion of the renter pool and support for rent roll durability. Elevated ownership costs relative to local incomes further reinforce reliance on multifamily, though rent-to-income pressures and neighborhood crime considerations warrant prudent underwriting.
- 2012 construction and larger unit sizes enhance competitiveness versus older neighborhood stock.
- High neighborhood renter-occupied share and strong nearby employers support leasing depth.
- 3-mile forecasts indicate household and income growth that can support occupancy and rent levels.
- Elevated ownership costs relative to incomes can sustain renter reliance and retention potential.
- Risks: softer neighborhood occupancy, affordability pressure, and safety considerations require disciplined operations and budgeting.