| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Best |
| Demographics | 46th | Fair |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2200 Kerwin Rd, Cleveland, OH, 44118, US |
| Region / Metro | Cleveland |
| Year of Construction | 1974 |
| Units | 92 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2200 Kerwin Rd, Cleveland OH Multifamily Investment
Neighborhood multifamily occupancy trends sit in the top quintile nationally, supporting stable leasing fundamentals for a 92-unit asset, according to WDSuite’s CRE market data. Positioning in an inner-suburb pocket of Cleveland provides durable renter demand with room for selective value-add upside.
This inner-suburb location combines daily conveniences with steady renter demand. Restaurant and grocery density ranks competitive among Cleveland-Elyria neighborhoods (569 total), and both categories test in the upper national percentiles, supporting resident satisfaction and lease retention. Cafe options are also comparatively dense, while parks and formal childcare are thinner locally — a consideration for family-oriented marketing.
Neighborhood occupancy is above the metro median and in the top quintile nationally, indicating resilient demand and generally limited turnover pressure versus many U.S. areas, based on CRE market data from WDSuite. Median contract rents in the neighborhood have risen meaningfully over five years, signaling pricing power when units are renovated and well-managed.
Approximately one-third of housing units are renter-occupied (renter concentration above the national median), suggesting a sizable tenant base for multifamily while still competing with ownership. Median home values sit near national mid-range levels, which can create some competition from for-sale housing; however, rent-to-income levels indicate manageable affordability pressure that can support retention with prudent lease management.
Within a 3-mile radius, population and households have increased in recent years, and households are projected to expand further by 2028. This points to a larger tenant base and supports occupancy stability and leasing velocity over the medium term. School ratings are below the national median, which may influence family renter preferences; amenities and commute access will be key differentiators.
Relative to the 569 Cleveland-Elyria neighborhoods, overall safety outcomes sit near the metro middle, and the area tracks close to the national average. Recent trends show improvement: estimated property and violent offense rates have declined year over year, which is constructive for long-term risk management and resident retention.
At the same time, property offense levels remain higher than many U.S. neighborhoods, so proactive on-site measures (lighting, access controls, and coordination with local resources) remain relevant. Interpreting these signals at the neighborhood level helps set expectations without making block-specific claims.
Major nearby employers include Parker-Hannifin, Progressive, Progressive Discovery Building, Progressive Greens Building, and Sherwin-Williams — a cluster that underpins a broad white-collar workforce and supports multifamily demand through commute convenience.
- Parker-Hannifin — industrial manufacturing HQ (3.2 miles) — HQ
- Progressive — insurance HQ (4.5 miles) — HQ
- Progressive Discovery Building — insurance offices (5.3 miles)
- Progressive Greens Building — insurance offices (6.1 miles)
- Sherwin-Williams — coatings & paints HQ (8.9 miles) — HQ
Built in 1974, the property is positioned for targeted value-add and systems upgrades that can enhance competitiveness versus older local stock while addressing aging building components. Neighborhood occupancy trends are above the metro median and top-quintile nationally, supporting income stability. Within a 3-mile radius, population and households have been growing and are projected to expand further, pointing to a larger tenant base and sustained renter demand.
Median home values near national mid-range levels mean some competition from ownership, but rent-to-income readings suggest manageable affordability pressure that can aid retention. According to CRE market data from WDSuite, neighborhood rent levels have advanced over the past five years, indicating room to monetize renovations where supported by finishes and amenities, while monitoring schools, parks access, and property offense patterns as part of underwriting.
- Strong neighborhood occupancy and growing 3-mile renter pool support leasing stability
- 1974 vintage offers value-add and modernization potential to drive rent premiums
- Diverse nearby employers bolster demand and reduce commute-related turnover risk
- Balanced ownership landscape suggests competition with for-sale housing but supports retention with prudent pricing
- Risks: below-median school ratings, limited parks/childcare amenities, and property crime levels requiring active management