| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 62nd | Good |
| Amenities | 13th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13243 Spruce Run Dr, North Royalton, OH, 44133, US |
| Region / Metro | North Royalton |
| Year of Construction | 1998 |
| Units | 24 |
| Transaction Date | 1986-10-15 |
| Transaction Price | $395,000 |
| Buyer | GROSS HARLEY I |
| Seller | GROSS GARY L |
13243 Spruce Run Dr, North Royalton OH Multifamily Investment
Neighborhood occupancy is competitive among Cleveland–Elyria submarkets, supporting stable leasing potential for a 24-unit asset, according to WDSuite’s CRE market data. Focus is on steady renter demand in an owner-leaning inner suburb where pricing power is balanced by local affordability.
This Inner Suburb location in North Royalton offers a suburban living profile with convenient access to greater Cleveland employment. While the neighborhood’s amenity rank sits below the metro median, restaurant density rates stronger than many peers (80th percentile nationally), indicating dining options within reasonable reach even if daily needs are more car-oriented.
At the neighborhood level, the occupancy rate is 96.9% (competitive among 569 Cleveland–Elyria neighborhoods), a constructive signal for near-term leasing stability. Median contract rents in the neighborhood are mid-market for the region, suggesting room for disciplined management to drive collections without materially elevating retention risk.
The property’s 1998 vintage is newer than the neighborhood’s average construction year (1977). That positioning can help compete against older stock; however, investors should still plan for selective systems updates and light renovations to maintain relevance against newer deliveries.
Tenure dynamics support a defined renter base: renter-occupied housing accounts for 38.7% of neighborhood units (competitive among metro peers), indicating depth for multifamily demand without relying on transient turnover. Within a 3-mile radius, demographics show modest population growth historically and a projected increase in households by 2028, which points to a larger tenant base and supports occupancy stability.
Home values in the neighborhood track below national norms, and rent-to-income ratios sit near midrange for the U.S. For investors, that combination typically supports retention while limiting outsized pricing power; renewal strategies and value-forward upgrades can sustain performance without overextending affordability.
Safety trends are mixed when benchmarked against both the metro and national landscape. The neighborhood ranks below the metro median on safety (435 out of 569), and its national positioning sits below midrange. Recent data indicate a year-over-year uptick in property offenses, while violent offense rates have been relatively steady to slightly lower.
For investors, this suggests underwriting that incorporates prudent security measures and resident experience enhancements. It also argues for close monitoring of trend lines compared with nearby Cleveland–Elyria neighborhoods rather than block-level assumptions.
Nearby corporate offices provide a diversified employment base that supports renter demand through commute convenience and stable household incomes. Key nodes include industrial gases, semiconductors, travel center operations, coatings, and banking.
- Airgas Merchant Gases — industrial gases (8.9 miles)
- Texas Instruments — semiconductors (9.0 miles)
- Travelcenters Of America — travel centers & logistics (11.04 miles) — HQ
- Sherwin-Williams — coatings & paint (13.03 miles) — HQ
- Keycorp — banking (13.24 miles) — HQ
13243 Spruce Run Dr benefits from neighborhood occupancy that is competitive among Cleveland–Elyria peers and a defined renter pool, supporting steady lease-up and renewals. The 1998 construction is newer than the local average, offering relative competitiveness versus older stock while leaving room for targeted value-add through systems upkeep and selective interior upgrades. According to CRE market data from WDSuite, the area’s ownership costs are comparatively accessible, which sustains retention but tempers outsized rent growth expectations — favoring operational execution over speculative appreciation.
Within a 3-mile radius, modest historical population gains and a projected increase in households by 2028 indicate a larger tenant base over time, reinforcing demand for well-managed multifamily housing. Proximity to diversified employers across industrial gases, semiconductors, coatings, and banking underpins income stability and supports leasing fundamentals.
- Competitive neighborhood occupancy supports stable leasing and collections
- 1998 vintage offers an edge versus older stock with value-add potential
- Expanding household counts within 3 miles point to a larger renter base
- Access to diversified employers supports demand durability and retention
- Risks: below-median amenity depth and mixed safety trends warrant prudent operations