| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Best |
| Demographics | 90th | Best |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 611 Starkweather, Cleveland, OH, 44113, US |
| Region / Metro | Cleveland |
| Year of Construction | 2006 |
| Units | 37 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
611 Starkweather Cleveland Multifamily in Amenity-Rich Core
High renter concentration in the surrounding neighborhood supports a deep tenant base, while occupancy trends warrant active leasing management according to WDSuite s CRE market data.
Situated in Cleveland s Urban Core, 611 Starkweather benefits from a neighborhood rated A+ (ranked 5 of 569 in the Cleveland Elyria metro), reflecting strong local fundamentals. Amenity access is a clear advantage: cafes and grocery options index in the 98th percentile nationally, restaurants in the 92nd, and parks in the 98th. These concentrations typically enhance walkability and day-to-day convenience, supporting renter appeal and lease retention.
Multifamily demand is reinforced by a high share of renter-occupied housing units in the neighborhood (ranked 53 of 569; 92nd percentile nationally), indicating a durable renter ecosystem and depth of prospective tenants. Median contract rents benchmark above the metro median (71st percentile nationally), while the rent-to-income ratio trends near national mid-range, suggesting manageable affordability pressure that can aid retention and stabilize turnover.
At the same time, neighborhood occupancy (85.4%) trails many Cleveland Elyria submarkets (ranked 484 of 569), which places a premium on marketing, renewals, and unit readiness to sustain cash flow. The property s 2006 vintage is newer than the neighborhood s older housing stock (average 1946), providing a relative competitive edge versus legacy assets; investors should still plan for midpoint-system upgrades and selective repositioning to maintain standing against newer product.
Within a 3-mile radius, demographics point to a growing renter pool. Recent population growth has been modest, but households increased and are projected to expand further through 2028 alongside rising median incomes and contract rents, supporting demand for rental units and potential pricing power. These trends, based on CRE market data from WDSuite, align with expectations for steady renter demand in urban Cleveland.
Relative to the Cleveland Elyria metro, the neighborhood s crime rank sits in the lower half (380 of 569), and national comparisons place overall safety around the 41st percentile. This indicates conditions less favorable than many peer areas, so underwriting should account for perception and security considerations.
That said, recent momentum is constructive: estimated violent offenses declined about 12% year over year, and estimated property offenses declined about 20%, trends that compare favorably to many neighborhoods nationwide. Continued monitoring and property-level measures can help support leasing and retention as conditions evolve.
Proximity to major employers supports commuter convenience and leasing depth, led by Sherwin Williams, PNC Center, KeyCorp, Time Warner Cable Payment Center, and Airgas Merchant Gases. These nearby employment nodes broaden the resident prospect base for workforce and professional tenants.
- Sherwin-Williams corporate offices (1.5 miles) HQ
- PNC Center corporate offices (1.6 miles)
- Keycorp corporate offices (1.7 miles) HQ
- Time Warner Cable Payment Center corporate offices (2.7 miles)
- Airgas Merchant Gases corporate offices (5.8 miles)
611 Starkweather combines an amenity-rich, A+-rated Urban Core location with a high renter concentration and proximity to Cleveland s largest employers. According to CRE market data from WDSuite, neighborhood rents benchmark above the metro median while rent-to-income remains near national mid-range, supporting lease retention. The 2006 vintage positions the asset competitively against older local stock, with scope for targeted capital projects to sustain its edge.
Within a 3-mile radius, households have grown and are projected to expand further through 2028, alongside rising median incomes and contract rents rends that point to renter pool expansion and potential pricing power. Counterbalancing factors include below-metro occupancy in the immediate neighborhood and safety perceptions that warrant continued attention in operations and underwriting.
- Urban Core location with 98th-percentile cafe, grocery, and park access supporting renter appeal
- High renter concentration indicates deep tenant base and demand resilience
- 2006 construction offers competitive positioning versus older neighborhood stock with targeted value-add potential
- 3-mile household and income growth projected through 2028 supports occupancy stability and rent growth management
- Risks: below-metro occupancy and safety perceptions require active leasing, security, and renewal strategies