| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Poor |
| Demographics | 37th | Poor |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 129 David Dr, Elyria, OH, 44035, US |
| Region / Metro | Elyria |
| Year of Construction | 1977 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
129 David Dr, Elyria OH Multifamily Investment
Neighborhood indicators point to stable, needs-based renter demand and attainable rents, according to WDSuite s CRE market data, supporting a straightforward, defensible multifamily thesis in Elyria.
The property sits in a neighborhood rated B- and ranked 285 among 569 Cleveland Elyria metro neighborhoods roughly around the metro median. Local amenity access is balanced: restaurants test well relative to national peers while cafes are sparse, and childcare and park access are comparative strengths, helping day-to-day livability for workforce households.
Occupancy in the neighborhood is below the metro median based on rank, which suggests leasing conditions can be competitive. However, moderate rents and a renter-occupied share of roughly four in ten housing units within a 3-mile radius indicate a sizable tenant base, which can support steady absorption and retention with disciplined lease management.
Within a 3-mile radius, recent population trends have been soft, but WDSuite s 5-year outlook points to slight population stabilization and an increase in household counts. This implies smaller average household sizes and a broader pool of households competing for rental options, a supportive backdrop for occupancy stability when paired with prudent unit positioning.
Home values in the area are comparatively accessible versus national levels, which can create some competition from entry-level ownership. At the same time, neighborhood rent-to-income levels are manageable by national standards, reinforcing the case for resident retention and measured pricing power rather than aggressive rent-ups.
Safety indicators compare modestly favorably at the national level: the neighborhood sits slightly above the national median for overall safety, with violent incidents benchmarking stronger than average and property-related incidents also reading better than many U.S. neighborhoods. In the Cleveland Elyria context, this positions the area as competitive rather than top-tier.
Trend signals are mixed. Recent data show violent incidents moving lower year over year, while property incidents have moved up, indicating the need for routine security measures and active property management. As always, safety varies by micro-location; investors should confirm on-the-ground conditions as part of diligence.
Regional employers within commuting distance support a broad workforce housing base, with proximity to manufacturing and corporate headquarters that can underpin leasing and reduce turnover. Notable nearby employers include Texas Instruments, TravelCenters of America, Sherwin-Williams, KeyCorp, and PNC.
- Texas Instruments semiconductor & electronics (10.9 miles)
- TravelCenters of America travel centers & logistics (11.9 miles) HQ
- Sherwin-Williams coatings & manufacturing offices (22.7 miles) HQ
- KeyCorp banking & financial services (22.7 miles) HQ
- PNC Center financial services offices (23.0 miles)
With 60 units in Elyria, this asset aligns with workforce housing demand drivers: attainable effective rents, a renter concentration within a 3-mile radius near 40%, and proximity to a diversified employer base that can sustain leasing. Based on CRE market data from WDSuite, neighborhood occupancy trends sit below the metro median, but manageable rent-to-income levels and a forecasted increase in household counts suggest potential for steady tenancy with disciplined operations.
Neighborhood amenity access is practical rather than premium, and schools benchmark below national averages factors that argue for value-forward positioning and resident services over top-of-market pricing. Ownership remains relatively accessible in this submarket, which can cap near-term pricing power, but it also supports retention for renters prioritizing convenience and monthly cost certainty.
- Workforce housing profile with attainable rents and a sizable nearby renter base
- Employer proximity across manufacturing and corporate HQs supports leasing durability
- Household counts projected to rise within 3 miles, expanding the tenant pool
- Risk: neighborhood occupancy trails metro norms requires active leasing and retention tactics
- Risk: accessible ownership options and lower school ratings may limit pricing power