| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Fair |
| Demographics | 72nd | Best |
| Amenities | 41st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 620 Cleveland Rd E, Huron, OH, 44839, US |
| Region / Metro | Huron |
| Year of Construction | 1978 |
| Units | 29 |
| Transaction Date | 2006-06-27 |
| Transaction Price | $1,100,000 |
| Buyer | MANOR STRAITS LLC |
| Seller | KEEN ST LLC |
620 Cleveland Rd E Huron Multifamily Investment Opportunity
Investor profile centers on renter affordability and steady demand in a low-density coastal-Lake Erie setting, according to WDSuite’s CRE market data. Neighborhood metrics point to stable retention more than aggressive rent push, with value-add potential at the asset level.
Located in Huron, Ohio, the property sits in an A-rated neighborhood that is competitive among Sandusky metro areas (ranked 4 out of 26). The local fabric is rural-leaning with convenient everyday amenities: park access trends in the top quartile nationally and pharmacies test above national midline, while restaurants are near the national middle and cafés/childcare are sparse. This mix supports day-to-day livability but suggests a car-oriented tenant profile rather than transit-first living.
Neighborhood rent levels are moderate and renter affordability appears favorable relative to incomes, which can aid retention. However, neighborhood occupancy is measured below national medians, signaling that leasing strategies may need to emphasize value and operations to sustain property-level stability; this occupancy metric is for the neighborhood, not the property. The area’s construction skew is slightly newer than the subject (local average year 1986 versus the property’s 1978), creating a backdrop where targeted renovations can improve competitive positioning.
Within a 3-mile radius, demographics show recent population growth with households up and continued expansion forecast over the next five years. A rising share of higher-earning households, paired with a small but persistent renter base, indicates depth for quality workforce-oriented units rather than luxury outliers. Elevated homeownership prevalence may temper upside on rents but can also support stable tenancy for well-managed, well-maintained multifamily.
Home values sit near national midline while the value-to-income environment is relatively accessible for owners. For investors, this means thoughtful pricing and resident experience are important to limit competition from for-sale options, while the neighborhood’s modest rent-to-income burden supports lease retention and reduces turnover risk.
Safety indicators benchmark well versus national peers, with both violent and property offense rates positioned in high national percentiles and improving year over year. These trends suggest a comparatively low-incidence environment that supports resident satisfaction and lease stability without relying on hyper-local claims.
Framing safety at the neighborhood—not block—level, recent data shows meaningful declines in estimated offenses alongside above-average national standing. For investors, that combination typically correlates with steadier occupancy and lower operating disruption risk.
Regional employment anchors within commuting range include technology manufacturing, travel services, and blue-chip corporate offices, supporting a durable renter pipeline and weekday leasing stability. Specifically, proximity to Texas Instruments, TravelCenters of America, Sherwin-Williams, and KeyCorp provides diversified white- and gray-collar demand drivers.
- Texas Instruments — semiconductor & electronics offices (33.3 miles)
- TravelCenters of America — travel services (33.8 miles) — HQ
- Sherwin-Williams — coatings & corporate (44.6 miles) — HQ
- KeyCorp — banking & corporate (44.6 miles) — HQ
Built in 1978, this 29-unit asset offers classic value-add potential in a neighborhood where local stock trends somewhat newer. Targeted renovations to interiors, common areas, and systems can elevate the property versus nearby alternatives, while neighborhood rent-to-income dynamics suggest room to prioritize retention through quality and service rather than aggressive rent premiums. Based on CRE market data from WDSuite, the area exhibits strong national safety positioning and a livability profile supported by parks and essential services, helping underpin occupancy durability at the asset when operations are tight.
Investor considerations include a smaller renter-occupied share locally and neighborhood-level occupancy that sits below national norms, implying the need for disciplined leasing, marketing, and unit turns. At the same time, 3-mile demographics indicate population and household growth ahead, pointing to a gradually expanding tenant base that can support stabilized cash flow once upgrades raise the property’s competitive standing.
- 1978 vintage supports a clear value-add plan to improve finishes, energy systems, and common areas relative to slightly newer neighborhood stock.
- Favorable rent-to-income dynamics bolster retention and reduce turnover risk when paired with strong property management.
- Strong national safety positioning and everyday amenities (parks, pharmacies) support leasing and resident satisfaction.
- 3-mile population and household growth point to a gradually expanding renter pool that can support long-term occupancy stability.
- Risk: lower neighborhood-level occupancy and a high ownership landscape may limit pricing power; underwriting should assume operational rigor over outsized rent growth.