| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 78th | Best |
| Amenities | 41st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7710 Lucerne Dr, Cleveland, OH, 44130, US |
| Region / Metro | Cleveland |
| Year of Construction | 1972 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
7710 Lucerne Dr Cleveland Multifamily Investment
Neighborhood occupancy is steady and rents track near the national midpoint, supporting balanced cash flow potential, according to WDSuite’s CRE market data. Investor focus: durable renter demand from a diversified inner-suburban location with solid daily-needs access.
This Inner Suburb pocket of the Cleveland–Elyria metro is competitive among Cleveland–Elyria neighborhoods, ranking 87 out of 569. Daily-needs access stands out: groceries and pharmacies score in the higher national percentiles, while restaurants are above average nationally; parks, cafes, and childcare are limited, which may modestly affect lifestyle appeal for some renter cohorts.
Rents in the neighborhood sit around the national midpoint, and neighborhood occupancy trends are above the national median, suggesting a stable backdrop for leasing and renewal management. While occupancy has edged down over the past five years, levels remain healthy for multifamily operators focused on retention and consistent marketing.
Within a 3-mile radius, population and household counts have grown over the last five years, with forecasts indicating continued increases in households over the next five years. This points to a larger tenant base and sustained demand for rental units, even as average household size trends lower.
Tenure patterns show a meaningful presence of renter-occupied units within the 3-mile radius, supporting depth of demand for multifamily. Home values are comparatively accessible in a regional context, which can introduce some competition from ownership; however, rent-to-income levels suggest manageable affordability pressure that can aid lease retention and limit turnover volatility.
Safety indicators are comparatively favorable versus national benchmarks. The neighborhood performs in the top quartile nationally for lower violent and property offense rates, and it stands above the metro average (ranked 230 out of 569 Cleveland–Elyria neighborhoods where a lower rank indicates lower crime). Recent data show a year-over-year uptick in property offenses, so investors should monitor trend direction alongside broader metro patterns.
Nearby corporate offices across semiconductors, travel services, industrial gases, coatings, and banking broaden the employment base and support renter demand via commute convenience and diversified payrolls.
- Texas Instruments — semiconductors (6.1 miles)
- Travelcenters Of America — travel services (8.2 miles) — HQ
- Airgas Merchant Gases — industrial gases (9.4 miles)
- Sherwin-Williams — coatings (11.7 miles) — HQ
- Keycorp — banking (11.9 miles) — HQ
7710 Lucerne Dr offers investors a stable inner-suburban setting where neighborhood occupancy trends sit above the national midpoint and rents track near the national median, according to CRE market data from WDSuite. Strong daily-needs access (notably grocery and pharmacy density) and proximity to diversified employers underpin leasing consistency and broaden the tenant pool.
Within a 3-mile radius, population has grown and households are projected to increase further, expanding the renter pool and supporting occupancy stability. While ownership remains accessible in the region and certain amenities like parks and cafes are limited, rent-to-income levels indicate manageable affordability pressure that can support retention with disciplined lease management.
- Occupancy above national midpoint with rents near national median supports steady cash flow potential
- Growing households within 3 miles signal a larger tenant base and leasing depth
- Daily-needs amenity access and diversified nearby employers bolster demand and retention
- Manageable rent-to-income dynamics aid renewal strategies and limit turnover risk
- Risks: modest recent softening in occupancy, limited parks/cafes, and potential competition from ownership options