| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Best |
| Demographics | 60th | Good |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 35253 Maplegrove Rd, Willoughby, OH, 44094, US |
| Region / Metro | Willoughby |
| Year of Construction | 2012 |
| Units | 40 |
| Transaction Date | 1995-06-27 |
| Transaction Price | $250,000 |
| Buyer | BELICH & DEMARCO INC |
| Seller | SOLOMAYER JOSEPH A |
35253 Maplegrove Rd Willoughby Multifamily Investment
Neighborhood occupancy trends sit above the national midline and are supported by a sizable renter base and nearby employment, according to WDSuite’s CRE market data.
Located in Willoughby’s inner-suburban fabric of the Cleveland–Elyria metro, the neighborhood carries an A- rating and ranks 119 out of 569 metro neighborhoods—placing it in the top quartile locally. For investors, this points to balanced fundamentals and demand resilience rather than speculative momentum.
Daily-needs access is a relative strength: grocery and pharmacy density are competitive among Cleveland–Elyria neighborhoods (both within the top quartile locally) and score well versus national peers. Restaurant density also tracks in the upper tier metro-wide. By contrast, cafés and dedicated park acreage are limited in the immediate area, a minor amenity gap to consider when positioning the asset.
Renter concentration is above the metro median, indicating a deeper pool of renter-occupied units and supporting multifamily demand. Median contract rents in the neighborhood track around the national middle while the rent-to-income profile suggests manageable affordability pressure for tenants—factors that can aid retention and occupancy stability. The property’s 2012 vintage is newer than the neighborhood’s early-1980s average, offering competitive positioning versus older stock, though investors should still plan for periodic system updates and modernization over a hold period.
Demographic statistics aggregated within a 3-mile radius show recent population growth and an increase in households, with forecasts indicating further household expansion over the next five years. Rising incomes in the area enhance the depth of the tenant base and support consistent leasing, according to WDSuite’s commercial real estate analysis.
Safety indicators are competitive among Cleveland–Elyria neighborhoods (around the metro middle, with improvement momentum). The neighborhood’s overall crime profile trends modestly safer than the national average, while violent incidents compare closer to the national midline. Year-over-year declines in both violent and property offenses suggest improving conditions, which supports leasing stability and resident retention without overstating block-level outcomes.
Proximity to regional employers strengthens the local renter base and supports lease-up and retention for workforce housing, notably within insurance and diversified industrials represented below.
- Progressive Greens Building — insurance operations (2.8 miles)
- Progressive Discovery Building — insurance operations (4.0 miles)
- Progressive — insurance (4.8 miles) — HQ
- Parker-Hannifin — diversified industrials (7.0 miles) — HQ
- Time Warner Cable Payment Center — telecom services (13.6 miles)
35253 Maplegrove Rd is a 40-unit, 2012-vintage asset positioned in a neighborhood that ranks in the top quartile among 569 Cleveland–Elyria neighborhoods, with occupancy trends above the national midline and a renter concentration supportive of leasing depth. Newer construction relative to the area’s older stock enhances competitiveness, while nearby employment nodes and solid daily-needs retail help underpin tenant demand.
According to CRE market data from WDSuite, neighborhood rents sit near the national middle and rent-to-income metrics indicate manageable affordability pressure—conditions that can support steady collections and retention. Demographic statistics within a 3-mile radius show recent growth and projected increases in households, expanding the local renter pool and supporting long-run occupancy stability. Investors should account for routine system refresh needs over the hold and for modest amenity gaps (limited cafés/parks) when shaping the value proposition.
- Occupancy above the national midline with a sizable renter-occupied base supports leasing stability.
- 2012 construction offers competitive positioning versus older neighborhood stock, with planned updates over time.
- Strong daily-needs access (grocery/pharmacy) and proximity to major employers bolster workforce demand.
- Rents around the national middle and manageable rent-to-income dynamics aid retention and collections.
- Risks: limited cafés/parks and measured rent growth could temper near-term pricing power.