| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Good |
| Demographics | 72nd | Best |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 47522 Middle Ridge Rd, Amherst, OH, 44001, US |
| Region / Metro | Amherst |
| Year of Construction | 1993 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
47522 Middle Ridge Rd Amherst 20-Unit Multifamily Investment
Neighborhood occupancy is high and schools score well, suggesting stable renter demand in this suburban pocket of Amherst, according to WDSuite’s CRE market data; note these indicators reflect neighborhood conditions rather than the property itself. With low rent-to-income levels locally, there is potential for retention and measured pricing power without overextending tenants.
The property’s 1993 vintage is newer than the neighborhood’s average construction year of 1980, offering a relatively competitive starting point versus older local stock; investors should still plan for targeted system modernization and common-area refresh to maintain positioning.
Within the Cleveland–Elyria metro, this neighborhood is competitive, ranking in the top quartile among 569 neighborhoods by overall rating (A-), per WDSuite. Neighborhood occupancy is strong around 97%, supporting income stability for well-run assets. Rents in the area are modest relative to incomes, which can support retention while allowing disciplined revenue management.
Livability indicators are mixed. Cafes and childcare density trend above national norms, and average school ratings are strong (roughly 4.0 and top quartile nationally). Parks and pharmacies are less dense within the immediate neighborhood, so residents may rely on nearby corridors for some services. For investors, this combination points to stable family appeal with some reliance on regional retail nodes for daily needs.
Tenure patterns show a low share of renter-occupied housing in the neighborhood, indicating a smaller renter pool but often stable tenancy once leased. Demographic statistics aggregated within a 3-mile radius show recent softness in population, but forecasts point to growth in both population and households over the next five years, implying a larger tenant base and support for occupancy as new households form and some residents opt for rental housing.
Safety signals are favorable in a national context but more mixed versus metro peers. The neighborhood sits in the top quartile nationally for safety (based on WDSuite benchmarks), yet its metro crime rank indicates more incidents than some suburban competitors within the Cleveland–Elyria area (68th relative to 569 neighborhoods, where lower ranks reflect higher crime). Year over year, both property and violent offense estimates trended down materially, which supports a constructive near-term view but merits continued monitoring.
Proximity to established corporate employers supports commuting convenience and a diversified renter base, notably in semiconductors, transportation services, coatings, and financial services. The list below reflects nearby corporate offices and headquarters that can underpin tenant demand.
- Texas Instruments — semiconductors (17.9 miles)
- TravelCenters of America — transportation services (18.7 miles) — HQ
- Sherwin-Williams — coatings manufacturer (29.5 miles) — HQ
- KeyCorp — banking (29.5 miles) — HQ
- PNC Center — financial services offices (29.8 miles)
This 20-unit asset with large floor plans (averaging about 1,462 sq. ft.) benefits from a suburban Amherst location where neighborhood occupancy is strong and schools test well, supporting family-oriented renter demand. Based on CRE market data from WDSuite, local rents sit low relative to incomes, creating room for measured rent growth while maintaining retention if operations and finish levels remain competitive.
Built in 1993, the property is newer than the area’s typical stock, offering relative competitiveness versus older assets, though investors should budget for targeted modernization. Demographic statistics aggregated within a 3-mile radius indicate forecast growth in both population and households, pointing to a gradually expanding renter pool. Offsetting factors include a low neighborhood share of renter-occupied units and relatively accessible ownership, which can temper lease-up velocity and pricing in softer periods.
- High neighborhood occupancy and strong schools support income stability
- Large average unit sizes enable differentiated positioning and retention
- 1993 vintage is competitive locally; plan targeted system and finish updates
- 3-mile forecasts point to growth in households, expanding the tenant base
- Risk: smaller renter concentration and accessible ownership can slow lease-up and limit pricing power in downcycles