| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Best |
| Demographics | 58th | Good |
| Amenities | 69th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5700 Emerald Ct, Mentor, OH, 44060, US |
| Region / Metro | Mentor |
| Year of Construction | 1999 |
| Units | 85 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5700 Emerald Ct, Mentor, OH Multifamily Investment
Neighborhood fundamentals show steady occupancy and a balanced renter base that supports leasing durability, according to WDSuite’s CRE market data. This positioning suggests a practical hold for investors prioritizing stable income over outsized growth.
Mentor’s neighborhood scores are competitive within the Cleveland–Elyria metro, with this area ranked 32 out of 569 neighborhoods overall (A rating). Amenity access trends above national averages — restaurants, cafes, groceries, and parks sit roughly in the upper third of neighborhoods nationwide — which helps with day-to-day convenience and supports tenant retention.
Neighborhood-level occupancy stands in the mid-90% range and has improved over the past five years; relative to the metro it sits near the median, while nationally it tracks above average. For investors, that points to consistent lease-up and renewal backstops rather than volatility-driven swings.
The share of housing units that are renter-occupied is modest (around the upper third nationally), indicating a renter base deep enough for demand stability without being oversupplied. Within a 3-mile radius, household counts have risen and are projected to grow further alongside incomes, expanding the potential tenant pool and helping support occupancy stability. Neighborhood NOI per unit benchmarks sit in the top quintile nationally, based on CRE market data from WDSuite, signaling efficient operations at the neighborhood level.
The asset’s 1999 vintage is newer than the area’s average construction year (mid-1980s), offering competitive positioning versus older stock. Investors should still account for age-driven updates typical of late-1990s buildings (systems refresh, common-area modernization) to preserve rentability and operating efficiency.
Ownership costs in the area are moderate in context, and neighborhood rent-to-income ratios trend near the mid-teens, which generally supports retention and measured pricing power. Given a meaningful owner-occupied presence, operators should emphasize convenience and amenity value to differentiate from entry-level ownership alternatives.
Safety performance trends below national averages, with this neighborhood positioned in lower national percentiles for both property and violent offenses. Within the Cleveland–Elyria metro, the area ranks toward the less-safe end (crime rank 508 out of 569 neighborhoods), indicating investors should underwrite active on-site management and preventative measures.
Recent year-over-year data show increases in reported property and violent offense rates. Many operators address this through lighting, access control, and resident engagement to support retention and limit non-revenue impacts. Comparatively, the signal is manageable but warrants attention in underwriting and asset plans.
Proximity to large corporate campuses in the east-Cleveland corridor underpins renter demand, particularly for commuters seeking reliable access to operations at Progressive and Parker-Hannifin.
- Progressive Greens Building — corporate offices (12.8 miles)
- Progressive Discovery Building — corporate offices (13.8 miles)
- Progressive — corporate HQ (14.7 miles) — HQ
- Parker-Hannifin — diversified industrial HQ (16.7 miles) — HQ
Positioned in a competitive Mentor neighborhood, the property benefits from above-average national occupancy at the neighborhood level and amenity access that supports leasing continuity. Based on CRE market data from WDSuite, neighborhood NOI per unit benchmarks sit in the top quintile nationally, and local rent-to-income levels suggest manageable affordability pressure for renewals. The surrounding 3-mile area shows rising household counts and income gains, pointing to a gradually expanding tenant base.
Built in 1999, the asset is newer than much of the local housing stock, offering a relative edge over 1980s-era product. Investors should still plan for selective capital to modernize systems and common areas, especially to differentiate against homeownership options in a market with a meaningful owner-occupied share. Safety metrics trail national norms, so underwriting should incorporate active management and property-level measures.
- Neighborhood occupancy is stable and above national averages, supporting income durability.
- 1999 vintage offers competitive positioning versus older local stock, with value-add via targeted updates.
- 3-mile household and income growth expand the tenant base and support renewal performance.
- Proximity to major employers (Progressive, Parker-Hannifin) underpins commuter demand.
- Risks: safety metrics below national averages and competition from ownership options warrant conservative underwriting and active management.