| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 43rd | Fair |
| Amenities | 41st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 95 E Vine St, Oberlin, OH, 44074, US |
| Region / Metro | Oberlin |
| Year of Construction | 1977 |
| Units | 54 |
| Transaction Date | 2025-04-16 |
| Transaction Price | $1,800,000 |
| Buyer | YUCM LLC |
| Seller | CONCORD MANOR OF OBERLIN LTD |
95 E Vine St, Oberlin OH Multifamily Investment
Renter-occupied housing is a meaningful share of nearby units, supporting a stable tenant base even as neighborhood occupancy runs below the metro median, according to WDSuite’s CRE market data. The asset’s 1977 vintage offers value-add potential to enhance competitiveness versus older local stock.
The property sits in an Inner Suburb of the Cleveland–Elyria metro with a B neighborhood rating and an overall rank of 265 among 569 metro neighborhoods — above the metro median. Neighborhood occupancy is 88.7%, which trails stronger submarkets and points to the need for hands-on leasing and retention to sustain cash flow.
Local amenities are serviceable rather than destination-driven: grocery and pharmacies track in the upper half nationally, parks score in the top third, while cafes and childcare options are comparatively sparse. Average school ratings are roughly in line with national norms, which supports broad workforce appeal but is unlikely to be a primary rent-driver.
Vintage matters for competitiveness. The asset was built in 1977, newer than much of the surrounding housing stock (neighborhood average construction year skews earlier). This positions renovations and system upgrades as a practical path to improve rentability and reduce near-term capex surprises versus older comparables, while still planning for aging mechanicals typical of late-1970s construction.
Tenure patterns indicate depth in the renter pool: the neighborhood’s share of renter-occupied units is high relative to peers (upper decile nationally), which supports demand for smaller formats and consistent leasing. At the same time, rent-to-income ratios trend elevated locally, suggesting affordability pressure that investors should manage through unit finishes, utilities, and lease renewal strategies.
Demographic statistics are aggregated within a 3-mile radius. Recent years show a modest rise in population with a sizable 18–34 cohort, while forward-looking estimates anticipate a slight population contraction alongside a small increase in total households and larger average household size. For multifamily, that mix points to steady near-term renter demand but argues for prudent underwriting on lease-up velocity and unit mix.
Home values are moderate for the region, which can introduce some competition from ownership options. However, elevated renting costs relative to income in the neighborhood reinforce the role of multifamily as an accessible alternative, with pricing power linked to pragmatic value-add and thoughtful renewal management.
Safety trends compare favorably to many U.S. neighborhoods: the area sits around the 61st percentile nationally for lower crime, based on WDSuite’s data. Year over year, both property and violent offense rates have declined, with violent incidents showing a sharper drop, indicating improving conditions rather than a structural shift.
Within the Cleveland–Elyria metro context, performance is better than average but not top quartile. Investors should still apply standard property-level measures (lighting, access control, and coordination with local management) to support resident satisfaction and retention.
Regional employers within commuting reach support workforce housing demand and lease retention, including semiconductor, travel services, coatings, and banking anchors noted below.
- Texas Instruments — semiconductors (18.6 miles)
- TravelCenters of America — travel services (20.3 miles) — HQ
- Airgas Merchant Gases — industrial gases (30.6 miles)
- Sherwin-Williams — coatings & paints (30.6 miles) — HQ
- KeyCorp — banking (30.7 miles) — HQ
This 54-unit, 1977-vintage asset offers a value-add path in a neighborhood that ranks above the metro median and maintains a high share of renter-occupied housing. According to CRE market data from WDSuite, neighborhood occupancy trails stronger submarkets, so investor focus should be on operational execution — targeted upgrades, expense control, and renewal management — to capture demand from a sizable renter base while mitigating affordability pressure.
Amenity access is adequate (grocery, pharmacy, and parks outperform midline nationally), with regional employers within commuting range that help support steady leasing. Forward-looking demographics within a 3-mile radius suggest a modest dip in population alongside a slight increase in households and larger household sizes, underscoring the need for conservative underwriting on rent growth and emphasis on unit functionality and finish quality to sustain occupancy.
- High renter concentration supports depth of tenant demand and renewal potential.
- 1977 vintage enables practical value-add to outperform older neighborhood stock.
- Adequate amenities and proximity to major employers bolster workforce appeal.
- Risk: Neighborhood occupancy below metro median requires active leasing and retention strategy.
- Risk: Affordability pressure and soft population outlook warrant conservative rent assumptions.