| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Poor |
| Demographics | 37th | Poor |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 128 Fox Hill Ln, Elyria, OH, 44035, US |
| Region / Metro | Elyria |
| Year of Construction | 1974 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
128 Fox Hill Ln, Elyria OH — 25-Unit Multifamily Value-Add
Older 1970s vintage and modest neighborhood rents point to renovation and operational upside, while renter demand is supported by a sizable tenant base within a 3-mile radius, according to WDSuite s CRE market data.
The property sits in a B- rated neighborhood within the Cleveland–Elyria metro, positioned around the metro median (rank 285 of 569 neighborhoods). Local occupancy for the neighborhood is measured at 87.2%, which is below the metro median (rank 468 of 569), suggesting room to improve leasing performance at the asset level with focused management and upgrades.
Vintage matters for underwriting: the asset was built in 1974, slightly older than the neighborhood s average construction year (1977). Investors should plan for capital expenditures tied to building systems and unit modernization; the flip side is clear value-add potential in a submarket with steady renter activity.
Within a 3-mile radius, demographics indicate a stable renter pool and growing household counts despite relatively flat population trends. Households have increased over the past five years and are projected to expand further, which can enlarge the local tenant base and support occupancy stability even as average household size trends lower.
Livability indicators are mixed but workable for workforce housing. Restaurants density scores in the top quartile nationally, and parks, childcare, and pharmacy access track above national medians, while cafes are limited. Neighborhood school ratings trend below national norms, which may temper appeal for some family renters, but proximity to daily needs supports day-to-day convenience.
Relative affordability is a defining feature. Neighborhood home values sit well below national levels, and rent-to-income metrics indicate limited affordability pressure for tenants. For investors, this can aid retention and collections but may also constrain near-term pricing power versus higher-cost submarkets. Overall, the area is competitive among Cleveland–Elyria neighborhoods for value-oriented multifamily, based on commercial real estate analysis from WDSuite.
Safety metrics are mixed but generally favorable in broader comparisons. Overall crime performance sits slightly above national norms (around the mid-50s percentile nationwide) and is above the metro median (rank 264 of 569), indicating comparatively better outcomes than many Cleveland–Elyria neighborhoods.
Violent-offense indicators benchmark in a stronger national position (around the 60th percentile) with a year-over-year improvement trend, while property-offense indicators benchmark nearer the upper-third nationally but show recent volatility. Investors should underwrite routine security and lighting improvements typical for 1970s garden assets and monitor submarket trends rather than block-level assumptions.
Regional employers within commuting range support workforce renter demand, led by manufacturing, logistics, and corporate services. Nearby anchors include Texas Instruments, TravelCenters of America, Sherwin-Williams, KeyCorp, and PNC.
- Texas Instruments semiconductors (11.1 miles)
- Travelcenters Of America travel centers & logistics (12.1 miles) HQ
- Sherwin-Williams coatings & corporate offices (22.8 miles) HQ
- Keycorp banking headquarters & corporate services (22.9 miles) HQ
- PNC Center financial services offices (23.1 miles)
128 Fox Hill Ln offers a 25-unit, 1974-vintage asset in an Elyria neighborhood that sits near the metro median, with below-median neighborhood occupancy and value-oriented rents creating a straightforward modernization thesis. Household growth within a 3-mile radius, combined with moderate rent-to-income levels, supports a durable tenant base and potential for operational lift through renovations and leasing execution, according to CRE market data from WDSuite.
Low relative home values sustain renter reliance on multifamily for convenience and flexibility, though they can cap rent growth outperformance versus higher-cost submarkets. Investors should budget for building-systems updates typical of 1970s construction; in return, refreshed units and curb appeal can strengthen absorption and retention in a workforce-driven area with proximity to diversified employers.
- 1974 vintage positions the asset for value-add through unit and systems upgrades
- Household growth within 3 miles expands the tenant base and supports occupancy stability
- Workforce location with commuting access to regional employers underpins consistent leasing
- Relative affordability aids retention and collections, with measured expectations on rent lift
- Risks: below-metro neighborhood occupancy, softer school ratings, and competition from accessible ownership