| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Best |
| Demographics | 48th | Fair |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5932 Stumph Rd, Cleveland, OH, 44130, US |
| Region / Metro | Cleveland |
| Year of Construction | 1979 |
| Units | 83 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5932 Stumph Rd Cleveland Multifamily Investment
Neighborhood fundamentals point to stable renter demand and solid occupancy, according to WDSuite s CRE market data. With a renter-occupied share above half of units locally and mid-market rents, the asset s positioning in an inner-suburban location supports consistent leasing and retention.
Situated in an Inner Suburb of the Cleveland Elyria metro, the neighborhood is competitive among regional peers (145 of 569 by overall rating) and benefits from practical amenities that matter to renters. Grocery and pharmacy access ranks above many U.S. neighborhoods, while restaurants are reasonably represented; parks and cafes are thinner, which suggests a more utilitarian, residential profile rather than a lifestyle hub.
Schools in the area average about 3 out of 5 and sit above national midpoints, which can help with renewal decisions for households prioritizing education. Median contract rents are mid-market for the metro, and the neighborhood s occupancy rate is in the low to mid-90s, a level that typically supports pricing discipline and reduces downtime between turns, based on CRE market data from WDSuite.
The property s 1979 vintage is older than the neighborhood s average construction year (1987). For investors, that points to near- and medium-term capital planning around systems, exteriors, and interiors and it also creates potential value-add upside via targeted renovations that enhance competitive position against younger stock.
Tenure patterns show a meaningful renter concentration (around 56% of housing units renter-occupied at the neighborhood level), indicating a deep tenant base for multifamily. Within a 3-mile radius, population has been broadly stable with modest growth, and households are projected to increase alongside slightly smaller average household sizes, expanding the local renter pool and supporting occupancy stability.
Home values in the area are lower than many U.S. neighborhoods, which can introduce some competition from ownership options. Even so, a relatively low rent-to-income profile suggests affordability pressure is manageable for many renters, aiding lease retention while leaving room for measured rent growth management where supported by unit quality and amenities.
Safety trends are mixed and should be monitored with standard underwriting diligence. The neighborhood sits near the national middle on overall crime (around the 44th percentile nationally), and violent incidents track below national norms in percentile terms, while recent data show a sharp year-over-year decline in property offenses in the area, according to WDSuite s CRE market data.
For investors, the takeaway is to underwrite security measures proportionate to the submarket profile and to weigh the downward trend in property crime against broader metro dynamics. Block-level conditions can vary; rely on current police reports and property-level history during due diligence.
Nearby employers span industrial gases, semiconductors, and several Cleveland-based corporate headquarters, supporting a diversified commuter base and helping sustain multifamily demand and retention in the submarket. The employers highlighted below are within a roughly 6 9 mile radius.
- Airgas Merchant Gases industrial gases (6.6 miles)
- Texas Instruments semiconductors (6.7 miles)
- Travelcenters Of America travel & logistics (7.4 miles) HQ
- Sherwin-Williams coatings & manufacturing (7.8 miles) HQ
- Keycorp banking & financial services (8.0 miles) HQ
5932 Stumph Rd offers an inner-suburban location with a renter-heavy neighborhood and occupancy in the low to mid-90s, supporting consistent leasing performance. The 1979 vintage is earlier than the neighborhood average, creating clear value-add pathways via modernization, while mid-market rents and a relatively low rent-to-income profile point to manageable affordability pressure and potential for disciplined rent growth as upgrades are executed all based on CRE market data from WDSuite.
Within a 3-mile radius, stable population and a projected increase in household counts suggest a gradually expanding tenant base. Proximity to several major employers, including multiple headquarters, underpins daily commuter demand and can support retention through economic cycles. Key risks include an aging physical plant requiring capital planning, some competition from ownership options given lower home values regionally, and safety trends that warrant standard security considerations.
- Inner-suburban location with renter-occupied concentration supporting depth of tenant demand
- Occupancy in the low/mid-90s and mid-market rents support leasing stability and pricing discipline
- 1979 vintage presents value-add potential via systems, exterior, and interior upgrades
- Diversified nearby employers, including multiple HQs, bolster workforce housing demand
- Risks: aging asset capex needs, some competition from ownership, and safety monitoring