| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Best |
| Demographics | 57th | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2007 W 65th St, Cleveland, OH, 44102, US |
| Region / Metro | Cleveland |
| Year of Construction | 2004 |
| Units | 33 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2007 W 65th St Cleveland Multifamily Investment
Strong renter concentration and amenity density in the surrounding neighborhood point to durable tenant demand, according to WDSuite’s CRE market data. The property’s 2004 vintage offers competitive positioning versus older local stock, supporting steady operations.
This Inner Suburb neighborhood of Cleveland ranks competitive among Cleveland-Elyria neighborhoods (35 out of 569) with an overall A rating, reflecting balanced fundamentals and livability for renters. Restaurants and grocery options test well above national medians, indicating day-to-day convenience that can aid retention and leasing velocity. However, pharmacies are limited within the immediate area, which may factor into some residents’ shopping patterns.
The area’s housing stock is older on average (1920s-era typical vintage), while this asset was built in 2004. That newer construction relative to nearby buildings can translate into fewer near-term capital surprises and better competitive appeal, though investors should still plan for mid-life system updates and select modernization to maintain positioning.
Renter-occupied housing accounts for a majority of neighborhood units (high relative to national norms), signaling a deep tenant base that supports multifamily demand. Neighborhood occupancy has trended upward over the past five years, suggesting improving stability, though current levels indicate room for active leasing management.
Within a 3-mile radius, households have increased in recent years and are projected to continue rising even as average household size declines. This shift implies a larger pool of households competing for rental housing, supportive of occupancy stability and absorption. Median contract rents track around the national midpoint with a multi-year rise, and a rent-to-income profile near 20% points to manageable affordability pressure that can aid lease retention and measured pricing power.
Home values in the neighborhood are elevated relative to local incomes (value-to-income ratio in the upper national range), indicating a higher-cost ownership market. For multifamily investors, that dynamic typically reinforces reliance on rental options, underpinning demand depth and length of stay.
School ratings in the immediate area trail national averages, which can matter for family-oriented prospects; investors should calibrate marketing and amenity positioning accordingly.
Safety trends should be evaluated with care. Compared with neighborhoods nationwide, recent measures indicate the area sits in a lower national safety percentile, so risk management and on-site security practices may be important for operations.
That said, property offenses show a notable year-over-year decline, placing the neighborhood in a stronger national percentile for improvement. Investors can consider this momentum alongside broader metro trends, but underwriting should still reflect conservative assumptions and proactive resident safety communications.
Proximity to major downtown employers supports renter demand through short commutes and workforce stability. Notable nearby employers include Sherwin-Williams, KeyCorp, PNC Center, Time Warner Cable, and Airgas.
- Sherwin-Williams — corporate offices (2.4 miles) — HQ
- Keycorp — corporate offices (2.5 miles) — HQ
- PNC Center — corporate offices (2.7 miles)
- Time Warner Cable Payment Center — corporate offices (4.1 miles)
- Airgas Merchant Gases — corporate offices (7.0 miles)
Built in 2004 with 33 units, the property offers a newer option in a neighborhood where much of the stock predates WWII—an advantage for leasing competitiveness and near-term capital planning. Renter-occupied share is high locally, restaurants and groceries are dense, and household growth within a 3-mile radius points to a larger tenant base even as household sizes shrink, which can support occupancy stability. According to CRE market data from WDSuite, neighborhood rents sit around mid-national levels with a multi-year uptrend, while rent-to-income near 20% suggests manageable affordability pressure for renewals.
Counterbalancing strengths, school quality trails national norms and safety metrics require prudent on-site measures, while neighborhood occupancy leaves room for active leasing strategy. Overall, the asset’s vintage, amenity access, and renter concentration create a durable, workforce-oriented thesis with selective value-add potential through modernization.
- 2004 vintage outcompetes older local stock; plan targeted mid-life system upgrades
- High renter-occupied share supports deep tenant base and leasing durability
- Dense restaurants and groceries enhance daily convenience and retention
- Mid-market rents with manageable rent-to-income aid renewal and pricing discipline
- Risks: below-average school ratings and cautious safety profile call for proactive management