| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Best |
| Demographics | 68th | Good |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 20665 Lorain Rd, Cleveland, OH, 44126, US |
| Region / Metro | Cleveland |
| Year of Construction | 1989 |
| Units | 70 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
20665 Lorain Rd, Cleveland OH Multifamily Investment
Inner-suburb location with solid renter demand and steady neighborhood occupancy, according to WDSuite’s CRE market data, positions this asset for durable cash flow with disciplined operations.
The property sits in an Inner Suburb of Cleveland-Elyria that rates A- and is competitive among Cleveland-Elyria neighborhoods, ranking in the top quartile among 569 metro neighborhoods. Neighborhood occupancy trends are firm and above many peer areas, supporting leasing stability for multifamily owners.
Renter-occupied housing represents a meaningful share of local units (approaching half), indicating a deep tenant base and consistent multifamily demand. Median contract rents in the neighborhood remain moderate relative to incomes (rent-to-income ratio around the national middle), which can support retention while still allowing measured rent growth tied to value delivered.
Everyday necessities are accessible, with grocery and parks density comparing favorably to national norms, while destination amenities like cafes and pharmacies are thinner. For investors, this mix suggests workforce-oriented appeal and a resident profile that prioritizes convenience over lifestyle retail—an element that can translate to stable tenancy if management focuses on service quality and maintenance.
Home values in the area are elevated relative to incomes (high national percentile for value-to-income), which often sustains reliance on rental housing and can bolster pricing power for well-maintained assets. The building’s 1989 vintage is newer than the neighborhood average construction year, helping competitiveness versus older stock, though targeted modernization of systems and common areas may still enhance positioning.
Within a 3-mile radius, demographics show recent population and household growth with forecasts calling for additional increases and smaller average household sizes. These trends point to a larger tenant base over the next five years and support for occupancy stability, based on commercial real estate analysis from WDSuite.
Safety indicators for the neighborhood track below the national median overall (crime ranks weaker than many areas among 569 Cleveland-Elyria neighborhoods). Compared with neighborhoods nationwide, property offenses sit near the middle of the distribution, while violent offenses trend below the national median and have seen a recent uptick. For investors, this calls for routine security-minded operations (lighting, access control, resident engagement) rather than extraordinary measures.
In short, the area is not among the region’s safest cohorts but remains comparable to many mixed suburban locations nationally. Monitoring trends and coordinating with local resources can help sustain resident satisfaction and retention.
Nearby employers include TravelCenters of America, Texas Instruments, Sherwin-Williams, KeyCorp, and PNC Center. Proximity to these corporate offices supports commuter convenience and broadens the renter pipeline for workforce and professional households.
- Travelcenters Of America — corporate offices (2.4 miles) — HQ
- Texas Instruments — corporate offices (3.3 miles)
- Sherwin-Williams — corporate offices (8.8 miles) — HQ
- Keycorp — corporate offices (8.9 miles) — HQ
- PNC Center — corporate offices (9.1 miles)
This 1989-vintage, 70-unit asset benefits from a renter-heavy neighborhood with steady occupancy and an ownership market where elevated home values sustain rental reliance. According to CRE market data from WDSuite, neighborhood occupancy trends sit above many peers, and rent levels remain manageable relative to incomes, supporting retention with room for value-driven rent steps.
Forward-looking fundamentals are constructive: within a 3-mile radius, population and households are projected to grow while average household size edges lower, expanding the tenant base and supporting leasing continuity. The property’s comparatively newer vintage versus local housing stock provides a competitive edge, with select modernization offering additional upside.
- Steady neighborhood occupancy supports durable cash flow and lower downtime risk.
- Renter-occupied concentration indicates a deep tenant pool for multifamily demand.
- Elevated ownership costs in the area reinforce rental housing reliance and pricing power for well-positioned units.
- 1989 vintage competes well versus older stock; targeted updates can unlock value-add potential.
- Risks: safety metrics track below national median and amenity density is mixed; responsive management and focused capex are key.