| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Fair |
| Demographics | 79th | Best |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13601 Royalton Rd, Strongsville, OH, 44136, US |
| Region / Metro | Strongsville |
| Year of Construction | 1976 |
| Units | 48 |
| Transaction Date | 1977-04-01 |
| Transaction Price | $100,000 |
| Buyer | OAK BROOK GARDENS |
| Seller | GROSS MORTON J |
13601 Royalton Rd Strongsville Multifamily Investment
Owner-leaning Strongsville shows stable renter demand with neighborhood occupancy measured at 100% for the area, according to WDSuite’s CRE market data. This supports consistent leasing fundamentals for a 1970s-vintage asset positioned to capture steady suburban demand.
Strongsville is a suburban neighborhood within the Cleveland–Elyria metro that skews owner-occupied yet provides reliable demand drivers for multifamily. Neighborhood-level occupancy is reported at 100% for the area, placing it among the most consistently filled sub-areas locally; this metric refers to the neighborhood, not the property. Amenities are competitive, with parks, cafes, and pharmacies landing in the top quartile nationally by density, and the overall amenity mix ranking competitive among 569 Cleveland–Elyria neighborhoods. Average public school ratings trend above national norms (top quartile), which helps sustain family-oriented housing stability.
Demographic indicators aggregated within a 3-mile radius point to a broad and relatively affluent tenant base. Median household income at the neighborhood level sits in the top quartile nationally, and within three miles household counts have risen in recent years with forecasts calling for further population growth and a noticeable increase in households over the next five years — conditions that generally expand the renter pool and support occupancy stability. The 3-mile renter-occupied share sits below half, reflecting an owner-leaning area; for investors, that typically means a deeper pool for larger, higher-quality units and stable lease retention, though it can temper turnover-driven pricing spikes.
Home values are elevated for the region but not extreme by national standards, and the value-to-income ratio sits well below national averages. In practice, a high-cost ownership market can reinforce reliance on multifamily; here, more accessible ownership options suggest disciplined rent positioning and attention to retention. Neighborhood rents have trended upward over the last five years and are projected to continue rising, which, combined with high neighborhood occupancy and above-median incomes, supports durable cash flow potential rather than outsized volatility.
Vintage is a consideration: the asset was built in 1976, a few years older than the neighborhood’s average construction year. For investors, this often translates into targeted capital planning for building systems and common-area upgrades — with corresponding value-add potential to enhance competitive positioning against newer supply.
Safety indicators are comparatively favorable for the neighborhood. Overall safety sits in the top quartile nationally, and violent incident rates benchmark above the national median. Recent year-over-year trends show meaningful declines in both violent and property incidents, with improvement metrics landing in the top decile nationally — a constructive backdrop for tenant retention and leasing.
While conditions vary by block and over time, the neighborhood’s trajectory compares well to many Cleveland–Elyria subareas, offering investors a relatively stable operating environment without requiring assumptions of exceptional outperformance.
Proximity to diversified corporate employers supports commuter convenience and broad renter demand, including engineering, industrial distribution, and headquarters roles reflected below.
- Texas Instruments — semiconductors (9.1 miles)
- Airgas Merchant Gases — industrial gases (9.6 miles)
- TravelCenters of America — travel centers (11.3 miles) — HQ
- Sherwin-Williams — coatings & corporate offices (13.7 miles) — HQ
- KeyCorp — banking (14.0 miles) — HQ
This 48-unit, 1976-vintage asset in Strongsville benefits from owner-leaning neighborhood dynamics that still deliver stable multifamily demand. Neighborhood occupancy is reported at 100% for the area and school quality benchmarks in the top quartile nationally, according to CRE market data from WDSuite — signals that underpin durable leasing and retention. Within a 3-mile radius, population and household counts are projected to rise, expanding the potential tenant base even as ownership remains attractive, which typically supports steady — rather than speculative — rent growth.
The vintage suggests targeted capital planning can unlock value-add upside: modernizing building systems and finishes can enhance competitiveness versus newer stock. Amenities and safety indicators trend above national medians, and proximity to multiple corporate employers offers a diversified demand base. Key risk considerations include an owner-heavy tenure mix that can moderate near-term rent push and the need to underwrite ongoing CapEx consistent with late-1970s construction.
- Neighborhood occupancy measured at 100% for the area supports leasing stability
- Top-quartile schools and amenities bolster long-term renter appeal
- 3-mile population and household growth expand the tenant base
- 1976 vintage offers value-add via system upgrades and unit modernization
- Risks: owner-leaning tenure can temper rent push; plan for ongoing CapEx