| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 70th | Best |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2017 E 9th St, Cleveland, OH, 44115, US |
| Region / Metro | Cleveland |
| Year of Construction | 1972 |
| Units | 104 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2017 E 9th St Cleveland Multifamily in Amenity-Rich Core
Downtown Cleveland shows deep renter demand and strong amenity density, according to WDSuite’s CRE market data, positioning this asset for consistent leasing interest even as neighborhood occupancy trends warrant close monitoring.
Located in Cleveland’s Urban Core, the neighborhood ranks 1 out of 569 metro neighborhoods for overall amenities with exceptional density of restaurants (ranked 1/569), groceries (2/569), and cafes (3/569). Nationally, these amenity measures place the area in the top quartile, supporting convenience-driven appeal and walk-to-work lifestyles that help sustain renter interest.
Neighborhood metrics indicate a high share of renter-occupied housing (78.3%; rank 10 out of 569; top-tier nationally), signaling a large tenant base for multifamily assets. However, the neighborhood occupancy rate is 80.4% (rank 524/569), which is below the metro median; investors should underwrite to current leasing velocity at the neighborhood level rather than assuming property-level stabilization.
Median home values in the neighborhood are elevated relative to incomes (value-to-income ratio rank 4/569; high national percentile), indicating a high-cost ownership market that tends to reinforce reliance on rentals and can support pricing power when managed thoughtfully. At the same time, a rent-to-income ratio of 0.32 suggests affordability pressure for some segments, so renewal strategies and unit mix positioning deserve attention.
Within a 3-mile radius, demographics show households have increased over the past five years while average household size has trended smaller, with forecasts pointing to continued household growth and a higher share of 18–34-year-olds by 2028. These shifts expand the near-term renter pool and support occupancy stability for well-located properties. For investors focused on multifamily property research, these demand drivers underscore the role of location fundamentals in performance.
Vintage context: the building was constructed in 1972, newer than the neighborhood’s average construction vintage (1930). This relative age advantage can enhance competitiveness versus older stock, though investors should still plan for modernization of systems and common areas to meet contemporary renter expectations.
Safety indicators point to higher crime levels than much of the metro: the neighborhood s crime rank is 516 out of 569 Cleveland-Elyria neighborhoods, placing it below the metro median and well below national safety percentiles. Violent-offense measures also sit in low national percentiles compared with neighborhoods nationwide.
Trend-wise, estimated property offenses have declined year over year, which is constructive, but investors should still incorporate prudent operating practices (access controls, lighting, and resident engagement) and reflect neighborhood conditions in underwriting and security planning.
Proximity to major downtown employers supports a steady commuter tenant base and enhances lease retention potential. Nearby anchors include financial services and corporate headquarters within walking distance and a short drive.
- PNC Center corporate offices (0.13 miles)
- Keycorp financial services (0.40 miles) HQ
- Sherwin-Williams headquarters & corporate offices (0.41 miles) HQ
- Time Warner Cable Payment Center corporate offices (1.38 miles)
- Airgas Merchant Gases corporate offices (7.36 miles)
This 104-unit, 1972-vintage asset sits in Cleveland s amenity-dense downtown where renter concentration is high and walkable access to jobs and services underpins consistent leasing. Based on CRE market data from WDSuite, the neighborhood s renter-occupied share is among the highest in the metro, while ownership remains relatively expensive versus incomes dynamics that typically support multifamily demand and pricing power for quality product.
Balanced underwriting is warranted: neighborhood-level occupancy runs below the metro median and safety indicators are weaker than peers, suggesting emphasis on asset management, resident experience, and security. The property s vintage is newer than the local average stock, offering a competitive edge versus prewar inventory, with potential value-add through targeted system upgrades and interior modernization to capture demand from growing 3-mile household counts and an expanding young-adult cohort.
- Amenity-rich downtown location with top-ranked access to restaurants, groceries, and services
- Deep renter base and high-cost ownership market support demand and rent durability
- 1972 vintage newer than neighborhood average, with value-add potential via modernization
- 3-mile household growth and smaller household sizes expand the tenant pool
- Risks: below-metro neighborhood occupancy and weaker safety metrics require proactive operations