| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Best |
| Demographics | 58th | Good |
| Amenities | 69th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 546 Oakwood Trl, Painesville, OH, 44077, US |
| Region / Metro | Painesville |
| Year of Construction | 2009 |
| Units | 35 |
| Transaction Date | 2008-11-05 |
| Transaction Price | $576,000 |
| Buyer | COBBLESTONE COURT APARTMENTS LLC |
| Seller | SHAMROCK BUSINESS CENTER LTD |
546 Oakwood Trl Painesville 2009 Multifamily Investment
Neighborhood occupancy has been stable with moderate renter demand, according to WDSuite’s CRE market data for the surrounding area. For investors, this points to steady lease-up potential supported by local employment and amenities measured at the neighborhood level.
Rated A and ranked 32 out of 569 in the Cleveland-Elyria metro, the neighborhood sits in the top quartile among metro neighborhoods, signaling resilient fundamentals for a smaller, rural submarket. Occupancy in the neighborhood is above national midpoints (67th percentile nationally), which supports cash flow stability relative to many peer locations, based on CRE market data from WDSuite.
Livability signals are balanced: national amenity percentiles for groceries, restaurants, cafes, parks, and pharmacies land in the upper-mid range, indicating everyday services are accessible for residents even in a rural context. School rating data are not available in this dataset; investors should underwrite education access and transportation options as part of diligence.
Vintage matters: the property’s 2009 construction is newer than the neighborhood’s average 1984 stock, offering competitive positioning versus older assets while still warranting routine capital planning for systems that approach mid-life over the hold. The renter-occupied share in the neighborhood is about 28.5% (measured for the neighborhood, not the property), indicating a moderate renter concentration that can support demand without outsized turnover exposure.
Within a 3-mile radius, demographics show a steady population base with a projected increase by 2028 and a notable rise in household counts alongside smaller average household size. For multifamily investors, that trend typically expands the tenant pool and supports occupancy stability, while the local rent-to-income profile near the national middle suggests manageable affordability pressure and potential for disciplined pricing power and retention.
Safety indicators trend below national averages: both violent and property offense measures sit in lower national percentiles. Within the Cleveland-Elyria metro, the neighborhood ranks 508 out of 569 neighborhoods, indicating safety is below the metro average.
Investors should treat this as a leasing and management consideration—monitoring recent trends, budgeting for lighting and security measures, and validating with current local reporting and property-level logs—to support resident retention and operational stability.
A diverse employment base in insurance, manufacturing, and financial services lies within a commutable radius, supporting workforce renter demand and helping sustain leasing and retention.
- Progressive Greens Building — insurance offices (13.1 miles)
- Progressive Discovery Building — insurance offices (14.0 miles)
- Progressive — insurance (14.9 miles) — HQ
- Parker-Hannifin — industrial manufacturing (16.9 miles) — HQ
- Keycorp — banking & financial services (25.8 miles) — HQ
546 Oakwood Trl offers a 2009-vintage, 35-unit asset positioned in a neighborhood that ranks in the top quartile among 569 Cleveland-Elyria neighborhoods—an indicator of stable fundamentals. Neighborhood occupancy is above national midpoints, and NOI per-unit trends benchmark in the top quintile nationally, suggesting relative operating strength versus many peer locations. The renter-occupied share is moderate for the neighborhood, supporting steady leasing without overreliance on transient demand.
Within a 3-mile radius, projections point to growth in households and smaller household sizes by 2028—factors that generally expand the renter pool and support occupancy stability. According to CRE market data from WDSuite, the submarket’s rent-to-income profile sits near the national middle, implying manageable affordability pressure that can aid retention while allowing measured rent optimization. The 2009 vintage should remain competitive against older stock, though prudent planning for mid-life building systems is warranted over a long hold.
- Top-quartile neighborhood rank (32 of 569) signaling durable fundamentals
- Occupancy above national midpoints supports cash flow stability
- 2009 vintage offers competitive positioning versus older local stock
- 3-mile household growth and smaller sizes expand the tenant pool
- Risk: safety metrics below metro averages may require enhanced on-site measures