| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 78th | Best |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12701 Walnut Hill Dr, North Royalton, OH, 44133, US |
| Region / Metro | North Royalton |
| Year of Construction | 1985 |
| Units | 48 |
| Transaction Date | 1977-05-27 |
| Transaction Price | $251,000 |
| Buyer | GROSS MORTON J |
| Seller | HUDAK JOHN A |
12701 Walnut Hill Dr, North Royalton Multifamily Investment
Neighborhood occupancy and a moderate renter base point to stable leasing fundamentals, according to WDSuite’s CRE market data, with pricing supported by a high-cost ownership landscape in suburban Cuyahoga County.
The property sits in an A-rated, suburban neighborhood of the Cleveland–Elyria metro that is competitive among 569 metro neighborhoods (ranked 86 of 569). Neighborhood occupancy is above the national median and near the metro middle, signaling steady renter demand without overheated conditions.
Renter concentration is measured at the neighborhood level as roughly one-quarter of housing units being renter-occupied, indicating a moderate but durable tenant base for multifamily. Within a 3-mile radius, households have increased in recent years with additional growth projected, supporting a larger tenant pool and potential for stable occupancy.
Ownership costs in the neighborhood are elevated relative to many U.S. areas, which can reinforce reliance on rental housing and support lease retention. Neighborhood rent-to-income sits in a high national percentile, suggesting manageable rent burdens that can aid collections and renewal rates.
Amenity density reflects a suburban pattern: parks and pharmacies track in the upper national percentiles, while cafes and restaurants are sparse. The average neighborhood construction year is 1982; this asset’s 1985 vintage is slightly newer, offering relative competitiveness versus older stock, though investors should plan for ongoing modernization and systems upkeep typical for 1980s buildings.
Safety indicators for the neighborhood sit below the national median, and the area ranks 359 out of 569 Cleveland–Elyria neighborhoods on crime, placing it below the metro median. Even so, recent trend data points to a decline in violent offense rates year over year, which is a constructive signal amid mixed property-crime readings.
For investors, this suggests a middle-of-the-pack risk profile within the region, with improving violent offense trends but variability in property-related incidents. Framing safety at the neighborhood level avoids block-level assumptions and provides a reasonable baseline for underwriting and resident retention considerations.
Proximity to diversified employers supports commuter convenience and renter demand, led by manufacturing, technology, and corporate headquarters including Airgas Merchant Gases, Texas Instruments, TravelCenters of America, Sherwin-Williams, and KeyCorp.
- Airgas Merchant Gases — industrial gases (9.2 miles)
- Texas Instruments — semiconductors (9.3 miles)
- Travelcenters Of America — travel centers & logistics (11.4 miles) — HQ
- Sherwin-Williams — coatings & corporate offices (13.5 miles) — HQ
- Keycorp — banking & financial services (13.7 miles) — HQ
12701 Walnut Hill Dr offers a balanced suburban thesis: neighborhood occupancy trends are above the national median, renter concentration is moderate, and ownership remains high-cost relative to incomes—factors that can support stable tenancy and measured pricing power. The 1985 vintage is slightly newer than the neighborhood average, providing competitive positioning versus older stock while leaving room for targeted value-add through interior refreshes and mechanical modernization. Based on CRE market data from WDSuite, these dynamics align with steady demand drivers rather than speculative lease-up assumptions.
Within a 3-mile radius, population and households have expanded with additional growth projected, pointing to renter pool expansion and support for occupancy stability. Suburban amenity density is mixed—strong parks and daily-needs access, fewer dining options—suggesting a resident profile prioritizing space and convenience over nightlife. Investors should also account for mid-pack safety metrics and monitor any softening in neighborhood occupancy trends over the last few years when calibrating rents and renewals.
- Occupancy above national median supports stable leasing
- Moderate renter-occupied share indicates a durable tenant base
- 1985 vintage offers competitive positioning with selective value-add potential
- 3-mile household growth and projected gains support renter pool expansion
- Risks: suburban amenity sparsity, mid-pack safety, and recent occupancy softening