| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 43rd | Fair |
| Amenities | 41st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 91 Maple St, Oberlin, OH, 44074, US |
| Region / Metro | Oberlin |
| Year of Construction | 1972 |
| Units | 79 |
| Transaction Date | 2021-12-23 |
| Transaction Price | $1,900,000 |
| Buyer | KENDAL NORTHERN OHIO |
| Seller | VEARD OBERLIN LIMITED PARTNERSHIP |
91 Maple St Oberlin Multifamily Value-Add Opportunity
1972 vintage with smaller units positions this 79-unit asset for targeted renovations and operational upside amid a renter-leaning neighborhood, according to WDSuite’s CRE market data. The location taps Cleveland–Elyria job centers while serving cost-conscious tenants in Oberlin.
WDSuite rates the neighborhood a B in the Cleveland–Elyria metro, reflecting balanced livability with practical access to daily needs. Grocery, pharmacy, and park availability track around the national mid-range to upper-mid range, while restaurants are roughly middle of the pack. Cafés and childcare are thinner, so resident conveniences trend toward essentials rather than lifestyle variety. Overall amenity access is competitive among Cleveland–Elyria neighborhoods, helping support day-to-day resident retention.
The neighborhood’s renter-occupied share sits in the top quartile nationally, signaling a deeper tenant pool and durable demand for multifamily units. Neighborhood occupancy is in a moderate range with some recent softening, so owners should emphasize renewal strategies and leasing cadence to sustain stability. Median contract rents benchmark high versus national norms, suggesting room for well-executed value-add while keeping an eye on affordability pressure and lease management.
Construction in the area skews older on average (early 1950s), and 91 Maple St’s 1972 vintage is newer than much of the surrounding stock. That positioning can be advantageous against older comparables, though investors should plan for system upgrades and targeted interior improvements to meet current renter expectations. School quality indicators land around the national middle, which aligns with workforce-oriented demand rather than premium family-driven migration.
Within a 3-mile radius, demographics reflect a large cohort of adults aged 18–34 and recent population growth, with WDSuite pointing to a forecast period that may see population soften even as household counts trend modestly higher. For investors, that mix suggests a steady renter base oriented to smaller households and shared living, supporting occupancy with thoughtful unit programming and pricing. This read-through aligns with disciplined commercial real estate analysis focused on tenant base depth and renewal probability.
Neighborhood safety indicators sit above national averages, with recent year-over-year declines in both violent and property offenses. On a national basis, the neighborhood ranks in higher percentiles for safety improvement, indicating momentum rather than a single-year anomaly. For investors, that trend supports leasing narratives and can aid renewals without overreliance on concessions.
Compared with other Cleveland–Elyria neighborhoods, safety performance is competitive, and the directionality of change—particularly the notable improvement in violent offense rates—adds to operational stability. As always, sub-neighborhood variability exists, so property-level measures and resident engagement remain part of prudent risk management.
Proximity to diversified employers supports commuter convenience and workforce housing demand, including Texas Instruments, TravelCenters of America, Sherwin-Williams, KeyCorp, and Airgas. This mix of technology, corporate services, and industrial gases provides a balanced employment base that can reinforce leasing stability.
- Texas Instruments — technology & manufacturing (18.2 miles)
- Travelcenters Of America — corporate services (19.8 miles) — HQ
- Sherwin-Williams — coatings & corporate offices (30.3 miles) — HQ
- Keycorp — banking headquarters (30.3 miles) — HQ
- Airgas Merchant Gases — industrial gases (30.4 miles)
91 Maple St offers a classic value-add profile: smaller units in a 1972-vintage asset positioned against an older neighborhood stock, with renter demand supported by a higher renter-occupied share and access to Cleveland–Elyria employment. Neighborhood occupancy is moderate and has softened recently, so execution should prioritize renewals, targeted upgrades, and disciplined leasing. According to CRE market data from WDSuite, neighborhood rents benchmark high nationally, reinforcing the case for selective interior and systems upgrades while monitoring rent-to-income dynamics to protect retention.
Forward-looking signals point to steady renter demand even as the broader area may see population soften; household counts in the 3-mile radius are projected to edge up, indicating a stable tenant base for well-managed properties. Investors should underwrite capital improvements to modernize building systems and finishes, positioning the asset competitively versus older comparables while maintaining pragmatic affordability to sustain occupancy.
- 1972 vintage offers clear value-add and system modernization pathways versus older neighborhood stock
- Higher renter-occupied share supports a deeper tenant base and renewal potential
- Neighborhood rents skew high nationally, enabling selective upgrades with careful rent-to-income management
- Access to diversified regional employers underpins commuter demand and leasing stability
- Risks: moderate occupancy with recent softening and forecast population headwinds require disciplined leasing and pricing