| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Best |
| Demographics | 58th | Good |
| Amenities | 69th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7900 Center St, Mentor, OH, 44060, US |
| Region / Metro | Mentor |
| Year of Construction | 2013 |
| Units | 78 |
| Transaction Date | 2017-04-20 |
| Transaction Price | $3,555,000 |
| Buyer | MENTOR OH SENIOR PROPERTY LLC |
| Seller | MENTOR CARE GROU LP |
7900 Center St Mentor Multifamily Investment
Newer 2013 construction in an owner-leaning submarket supports competitive positioning and renter retention, according to WDSuite’s CRE market data. Neighborhood occupancy trends sit in the mid-90s, indicating stable tenant demand with prudent lease management upside.
Mentor sits within the Cleveland–Elyria metro and this neighborhood rates highly for overall quality (A) with amenity access that is competitive among 569 metro neighborhoods and in the upper third nationally. Dining and daily services are reasonably accessible, with restaurants and groceries more prevalent than many suburban peers. School rating specifics are not provided, but family-oriented demographics in the 3-mile radius and steady household growth indicate consistent demand for larger floor plans.
The property’s 2013 vintage is newer than the neighborhood’s average construction year (1984), which positions the asset well versus older local stock. Investors should still plan for routine system updates over a 10–15 year horizon, but the relative youth supports curb appeal, leasing velocity, and competitiveness without near-term heavy capital programs typical of 1970s–1980s assets.
Neighborhood multifamily fundamentals show occupancy around 94%, with a renter-occupied housing share near the low 30% range at the neighborhood level. That owner-leaning tenure mix points to a shallower but steady renter base, where demand is supported by quality-of-life drivers and proximity to regional employment rather than transient turnover. Within a 3-mile radius, population and household counts have trended upward and are projected to continue increasing, expanding the local renter pool and supporting occupancy stability for professionally managed assets.
Home values in the area are elevated relative to local incomes but not extreme by national standards. This high-cost ownership market for many households helps sustain multifamily reliance, while neighborhood rent-to-income levels suggest manageable affordability pressure—supporting retention and measured pricing power rather than aggressive, volatile rent swings. Based on commercial real estate analysis from WDSuite, the submarket’s NOI per unit performance sits in the upper tier nationally, reinforcing operational potential for well-maintained properties.
Safety indicators for this neighborhood track below the national median, with crime levels that are less competitive among 569 Cleveland–Elyria neighborhoods. Recent year-over-year data signals an uptick in both property and violent offenses at the neighborhood level. While these figures are neighborhood-wide and not property-specific, investors should underwrite for resident communication, lighting and access controls, and coordination with local resources to support leasing and retention.
Contextually, many suburban Cleveland submarkets show pockets of variability block to block; sustained on-site management and visibility typically mitigate perceived risk. Monitoring trend direction quarter to quarter and aligning operating practices accordingly can help maintain performance without assuming undue exposure.
Proximity to major corporate campuses underpins steady renter demand, particularly for professionals seeking short commutes. Key nearby employers include Progressive’s cluster and Parker-Hannifin, as well as regional corporate offices that broaden the white-collar employment base.
- Progressive Greens Building — insurance operations (8.2 miles)
- Progressive Discovery Building — insurance operations (9.1 miles)
- Progressive — insurance (10.0 miles) — HQ
- Parker-Hannifin — industrial/manufacturing HQ & offices (12.0 miles) — HQ
- Time Warner Cable Payment Center — telecommunications offices (19.6 miles)
This 78-unit asset built in 2013 offers a favorable age profile versus the neighborhood’s older housing stock, supporting competitive positioning and reduced near-term capital intensity. Neighborhood occupancy trends near the mid-90s and a measured rent-to-income environment point to stable cash flow potential and prudent, incremental rent growth. Within a 3-mile radius, population and households have increased and are projected to keep rising, which broadens the tenant base and supports leasing durability. According to CRE market data from WDSuite, neighborhood NOI per unit performs in the upper tier nationally, consistent with operational efficiency for well-located, professionally managed properties.
The area’s owner-oriented tenure mix implies a shallower renter pool than urban cores, but proximity to major employers and an amenity set that is competitive among 569 metro neighborhoods help sustain demand. Investors should balance strengths in construction vintage, demand stability, and rent-to-income alignment with thoughtful operating plans around safety perception and resident experience.
- 2013 construction offers competitive positioning versus older local stock with moderated near-term capex
- Neighborhood occupancy in the mid-90s supports stable cash flows and retention potential
- 3-mile radius shows rising population and households, expanding the local renter base
- Upper-tier neighborhood NOI per unit, per WDSuite, aligns with efficient operations
- Risks: below-median safety indicators and an owner-leaning tenure mix require proactive leasing and on-site management