| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Best |
| Demographics | 71st | Best |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 19205 Pearl Rd, Strongsville, OH, 44136, US |
| Region / Metro | Strongsville |
| Year of Construction | 2002 |
| Units | 117 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
19205 Pearl Rd, Strongsville — 2002 Suburban Multifamily
Newer 2002 vintage and mid-pack neighborhood positioning support competitive leasing relative to older area stock, according to WDSuite’s commercial real estate analysis. Neighborhood NOI per unit trends are strong, though local renter concentration is limited, suggesting demand is drawn from the broader 3-mile area.
This suburban location in Strongsville sits roughly mid-pack among 569 Cleveland–Elyria neighborhoods (B- rating), with fundamentals that favor steady operations over flash. The neighborhood’s average building vintage skews older than the subject’s 2002 construction, which can help 19205 Pearl Rd compete on finishes and systems versus legacy assets while still budgeting for routine modernization as the property approaches mid-life.
Neighborhood occupancy is in the low-90s and near national mid-range, based on CRE market data from WDSuite. At the same time, neighborhood NOI per unit ranks near the top of the metro (top decile), signaling resilient revenue capture despite a relatively small base of renter-occupied units within the immediate neighborhood.
Tenant depth broadens meaningfully at the 3-mile radius: households have grown in recent years and are projected to increase further, with gradually smaller household sizes. This points to a larger renter pool over time and supports occupancy stability and renewal potential for well-managed multifamily.
Ownership costs are elevated by national standards but not extreme (home values sit above typical U.S. neighborhoods while value-to-income ratios remain relatively accessible). For investors, that mix can sustain rental demand among households prioritizing quality apartments, though it also introduces some competition from for-sale options—making property-level amenities, finishes, and management execution important to pricing power.
Local walkable amenities within the defined neighborhood register lightly in WDSuite’s data (few cafes, parks, or groceries mapped to this small geography). Most daily needs and employment access are captured at the broader suburban scale via arterials and regional retail nodes, which is typical for suburban Cleveland submarkets.
Safety metrics indicate the area compares favorably at the national level—roughly top quartile for lower crime—while performing closer to the middle of the pack within the Cleveland–Elyria metro’s 569 neighborhoods. Recent WDSuite data also shows notable year-over-year declines in both property and violent incident rates, a constructive trend for tenant retention and leasing.
As with any suburban location, conditions can vary block to block; investors should underwrite to property-specific security measures and recent police reports rather than relying solely on neighborhood aggregates.
The leasing base is supported by a diversified suburban employment corridor, with proximity to semiconductor, logistics, and headquarters roles that underpin stable workforce demand. Notable nearby employers include Texas Instruments, TravelCenters of America, Airgas, Sherwin-Williams, and KeyCorp.
- Texas Instruments — semiconductors (10.0 miles)
- TravelCenters of America — travel centers & logistics (12.5 miles) — HQ
- Airgas Merchant Gases — industrial gases (12.8 miles)
- Sherwin-Williams — coatings & corporate offices (16.7 miles) — HQ
- KeyCorp — banking & corporate offices (16.9 miles) — HQ
The 117-unit asset at 19205 Pearl Rd benefits from a 2002 construction year—newer than the neighborhood’s prevailing stock—positioning it competitively against older assets while allowing for targeted value-add through common-area refreshes and system upgrades as the property matures. Neighborhood-level occupancy sits in the low-90s and NOI per unit performance ranks near the top of the metro, indicating durable revenue capture when operations are well executed. Household growth and rising incomes within a 3-mile radius point to a larger tenant base and support for rent levels over time.
According to CRE market data from WDSuite, the immediate neighborhood has a low share of renter-occupied units, so demand is more regional than block-level; pairing professional management with competitive finishes, parking, and convenience to arterials should help sustain occupancy and renewal rates. Investors should also account for limited walkable amenities and potential competition from ownership options when setting underwriting assumptions.
- 2002 vintage offers competitive positioning versus older area stock with selective value-add potential
- Neighborhood NOI per unit ranks near the metro’s top tier, supporting durable cash flow
- 3-mile area shows household growth and rising incomes, expanding the renter pool
- Nationally favorable safety trend with recent declines in incident rates per WDSuite
- Risks: limited neighborhood renter concentration and sparse walkable amenities may temper pricing power