| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Fair |
| Demographics | 56th | Fair |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 33001 Vine St, Willowick, OH, 44095, US |
| Region / Metro | Willowick |
| Year of Construction | 1972 |
| Units | 86 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
33001 Vine St Willowick Multifamily with Stable Occupancy
Neighborhood occupancy runs high and has strengthened in recent years, supporting steady cash flow potential, according to WDSuite’s CRE market data. Relative affordability further underpins renter demand while leaving room for disciplined rent management.
This inner-suburb location in Willowick sits among competitive Cleveland–Elyria neighborhoods for day-to-day convenience: restaurant density is strong by regional standards and grocery access is solid, while parks, cafes, and pharmacies are limited within the immediate area. The neighborhood’s occupancy rate is 98.1% (top decile nationally), signaling durable leasing conditions and low downtime risk for stabilized assets.
At the property level, the 1972 vintage is newer than the neighborhood’s average construction year (1963). For investors, that typically means a more competitive baseline versus older local stock, though mechanical systems and common areas may still warrant targeted modernization to meet contemporary renter expectations and enhance rent roll durability.
Tenure data indicates a moderate renter concentration in the neighborhood (reported as the share of housing units that are renter-occupied), complemented by broader 3-mile demographics that matter for leasing. Within a 3-mile radius, households have grown despite a flat-to-slightly contracting population and smaller average household sizes. Looking ahead, forecasts show further increases in the number of households through 2028, which expands the local tenant base and supports occupancy stability even if population growth remains modest.
Pricing context remains favorable for lease retention. Neighborhood rent-to-income sits at 0.15, and median contract rents and incomes in the 3-mile radius point to manageable affordability pressure. Home values in the neighborhood are relatively accessible in a national context, which can create some competition with ownership; however, elevated occupancy and a deep commuting shed help sustain multifamily demand and limit turnover volatility.
Safety indicators compare favorably at the neighborhood level. Crime is competitive among Cleveland–Elyria neighborhoods (rank 161 of 569), and overall conditions are safer than the national average (around the mid‑60s percentile nationwide). Recent data also shows a notable decline in estimated property offenses over the last year, while violent offense levels remain below typical urban benchmarks. These trends suggest a stable operating backdrop without implying block‑level outcomes.
Proximity to major employers supports leasing depth and commute convenience for a broad workforce, led by Progressive and Parker-Hannifin corporate campuses, with additional downtown Cleveland anchors in reach. These nodes can reinforce tenant retention and weekday demand.
- Progressive Greens Building — insurance corporate offices (5.3 miles)
- Progressive Discovery Building — insurance corporate offices (6.5 miles)
- Progressive — insurance corporate offices (7.3 miles) — HQ
- Parker-Hannifin — industrial & engineering corporate offices (9.4 miles) — HQ
- Time Warner Cable Payment Center — telecommunications offices (14.2 miles)
This 86-unit, 1972 multifamily asset benefits from a neighborhood with high occupancy (98.1%) and strengthening leasing trends. The vintage is newer than the local average stock, offering a competitive starting point versus older properties, while targeted upgrades can drive value-add upside. Rent-to-income levels and 3-mile household gains support a stable tenant base and measured pricing power, based on CRE market data from WDSuite.
Investors should weigh a relatively moderate renter concentration in the immediate neighborhood and more accessible ownership costs, which can add competition for some cohorts. Even so, strong employment access, solid day-to-day amenities, and a broad commuting shed underpin demand resilience and lease retention over a full cycle.
- High neighborhood occupancy and stable leasing backdrop support cash flow durability
- 1972 vintage newer than local average; targeted renovations can unlock value-add upside
- 3-mile household growth and manageable rent-to-income ratios bolster renter pool and retention
- Proximity to major corporate campuses (Progressive, Parker-Hannifin) supports demand from commuters
- Risk: moderate renter concentration and accessible ownership may temper top-end rent growth