| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Best |
| Demographics | 65th | Good |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4122 Columbia Sq, North Olmsted, OH, 44070, US |
| Region / Metro | North Olmsted |
| Year of Construction | 1977 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4122 Columbia Sq, North Olmsted OH Multifamily Opportunity
Neighborhood fundamentals point to steady renter demand and high occupancy in the surrounding area, according to WDSuite s CRE market data, suggesting a stable backdrop for cash flow relative to similar inner-suburban Cleveland locations.
Situated in North Olmsted s inner-suburban setting, the property benefits from a neighborhood rated A- and ranked 130 out of 569 metro neighborhoods competitive within the Cleveland-Elyria market. Area occupancy is strong, with the neighborhood s apartment occupancy ranked 121 of 569 (top quartile in the metro), a positive indicator for lease-up and retention relative to many sub-urban peers, based on CRE market data from WDSuite.
Local convenience favors daily needs more than lifestyle retail. Restaurant density ranks 79 of 569 (upper tier locally), and pharmacy access ranks 53 of 569 (also upper tier). By contrast, cafes, grocery, and park density are limited within the neighborhood footprint, which may modestly reduce walkable lifestyle appeal but typically has limited impact on suburban renter demand where auto access is common.
Construction vintage in this neighborhood skews early-1970s on average; the subject s 1977 delivery is slightly newer than the local mean. For investors, this generally implies competitive positioning versus older stock while still planning for selective modernization and systems upkeep to meet current renter expectations.
Tenure patterns indicate a meaningful renter base: the neighborhood shows a renter-occupied share of housing units around the mid-30% range. That concentration helps support depth of demand for multifamily inventory, while the area s rent-to-income profile (near the middle of the pack locally) suggests manageable affordability pressures that can aid lease stability.
Demographic statistics aggregated within a 3-mile radius show recent growth in population and households, with forecasts pointing to continued increases in households over the next five years. This broadens the prospective tenant pool and supports occupancy stability for well-positioned assets, even as household sizes are expected to edge smaller, favoring professionally managed apartments.
Home values in the neighborhood sit below many national metros, and ownership looks comparatively accessible for the region. That context can introduce some competition from entry-level ownership, but it also sustains steady rental demand for convenience-oriented, well-maintained units where renters value flexibility and minimal maintenance.
Safety indicators are mixed and should be evaluated in context. The neighborhood s overall crime rank sits in the lower half of the Cleveland-Elyria metro (387 out of 569 neighborhoods), indicating conditions that trail the metro median. Nationally, property incident levels are around the middle of the pack, while violent offense safety stands below national averages.
Recent trends show a one-year uptick in both property and violent incidents in the surrounding area. For investors, this calls for standard operational measures ighting, access controls, and resident engagement to support perception and retention, and for underwriting that reflects property-level mitigation rather than block-level assumptions.
Proximity to established corporate employers supports a durable renter pipeline and commute convenience for residents, notably across semiconductors, travel centers, and regional banking. The nearby employment base includes Texas Instruments, TravelCenters of America, Sherwin-Williams, KeyCorp, and PNC offices.
- Texas Instruments semiconductors (0.8 miles)
- Travelcenters Of America travel centers corporate (2.0 miles) HQ
- Sherwin-Williams paints & coatings (11.7 miles) HQ
- Keycorp banking (11.8 miles) HQ
- PNC Center banking offices (12.0 miles)
4122 Columbia Sq offers investors a suburban Cleveland location with solid neighborhood performance: competitive overall ranking (130 of 569) and top-quartile local occupancy, according to CRE market data from WDSuite. The 1977 vintage is slightly newer than the neighborhood average, providing a modest competitive edge over older 1970s stock while leaving room for targeted value-add through interior updates and building systems planning.
Within a 3-mile radius, population and household counts have been rising and are projected to continue growing, expanding the renter pool and supporting occupancy stability. The surrounding area s rent-to-income dynamics point to manageable affordability pressure, and an owner-leaning landscape can still sustain steady rental demand for quality, convenience-oriented units. Investors should underwrite standard suburban car-oriented living (with strong restaurants and pharmacy access but limited cafes/grocery within the immediate neighborhood) and incorporate prudent assumptions for safety-related operating practices.
- Competitive neighborhood standing (130 of 569) with top-quartile occupancy supporting cash flow stability
- 1977 vintage slightly newer than local average scope for targeted renovations and systems modernization
- Expanding 3-mile renter pool via population and household growth, reinforcing leasing demand
- Suburban convenience: strong restaurant and pharmacy access; plan around limited cafes/grocery in immediate area
- Risk: safety metrics trail metro median; budget for property-level security measures and conservative underwriting