| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Good |
| Demographics | 73rd | Best |
| Amenities | 54th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10 Colonial Estates Dr, Youngstown, OH, 44514, US |
| Region / Metro | Youngstown |
| Year of Construction | 1973 |
| Units | 48 |
| Transaction Date | 2013-08-26 |
| Transaction Price | $1,200,000 |
| Buyer | POLAND COMMUNITY GARDEN LLC |
| Seller | COLONIAL ESTATES APARTMENTS LTD |
10 Colonial Estates Dr, Youngstown OH Multifamily Investment
Neighborhood occupancy trends are solid and rents remain comparatively accessible, supporting stable tenant retention according to WDSuite’s CRE market data.
The property sits in an A-rated, suburban neighborhood ranked 12 out of 222 in the Youngstown-Warren-Boardman metro, placing it firmly in the top quartile among metro peers. Local livability leans family-friendly with strong park access and everyday services nearby, while retail and dining density is thinner and more auto-oriented.
Amenity coverage is mixed: parks index high (top national quartile), and pharmacies and cafes are comparatively abundant versus national norms. In contrast, grocery and restaurant density is limited within the immediate neighborhood, which suggests residents likely rely on a broader trade area for weekly shopping and dining.
Multifamily fundamentals at the neighborhood level indicate steady performance. Neighborhood occupancy is approximately 94.7% (neighborhood metric, not property-specific) and has trended up over the past five years, implying stable leasing conditions relative to metro and national cycles based on CRE market data from WDSuite. Rents benchmark below national norms, which supports demand depth but may call for disciplined revenue management to balance absorption and pricing.
Demographic data aggregated within a 3-mile radius show a stable population base with a slight increase in households recently and a projected expansion by 2028, pointing to a larger tenant base over time. The renter-occupied share is about a quarter of housing units, indicating a moderate renter concentration that can support consistent multifamily demand without heavy turnover risk. Elevated household incomes versus national medians in the neighborhood context further reinforce payment capacity and lease stability.
Vintage positioning matters: built in 1973, the asset is newer than much of the local housing stock (average vintage 1957). That relative youth can provide competitive differentiation versus older inventory, though age-related modernization and system updates should be considered for ongoing marketability.
Safety indicators are comparatively favorable versus national benchmarks. Neighborhood crime performance is competitive among Youngstown-Warren-Boardman neighborhoods (rank 61 of 222), and national percentiles place violent offense rates in the top quartile for safety. Property offense rates also compare well nationally, though recent year-over-year volatility in property crime warrants monitoring rather than assumptions of a linear trend.
For investors, the takeaway is steady relative positioning versus national comparisons with some near-term variability in property-related incidents. Underwriting should account for standard security measures and trend monitoring at the neighborhood level rather than block-by-block conclusions.
Regional employment access supports renter demand, with proximity to transportation, healthcare distribution, and retail corporate functions providing a broad commuter base relevant to leasing and retention.
- Norfolk Southern — rail transportation (16.1 miles)
- Cardinal Health — healthcare distribution (36.0 miles)
- Dick's Sporting Goods — retail corporate offices (40.0 miles) — HQ
This 1973-vintage, 48-unit community benefits from a high-performing suburban location where neighborhood occupancy remains firm and rents are comparatively accessible, supporting leasing stability and tenant retention. According to commercial real estate analysis from WDSuite, the neighborhood ranks in the metro’s top quartile, with strong parks and service access but thinner grocery and restaurant density, favoring car-based convenience. The asset’s vintage is newer than much of the local stock, offering relative competitiveness while still warranting targeted capital planning for building systems and cosmetic upgrades.
Within a 3-mile radius, households are stable with a projected increase by 2028, indicating a gradually expanding renter pool. Income levels and a low rent-to-income profile suggest durable payment capacity that can support measured rent growth strategies without overextending affordability. Home values in the broader neighborhood context are more accessible than high-cost markets, which can introduce some competition from ownership, but also underpin steady workforce demand for multifamily options.
- Metro top-quartile neighborhood with steady occupancy supporting leasing stability (neighborhood metric, not property-specific).
- 1973 vintage is newer than local averages, with modernization opportunities to enhance competitiveness.
- 3-mile household growth outlook points to a larger tenant base and demand durability.
- Low rent-to-income profile supports retention and prudent rent management.
- Risks: thinner nearby grocery/restaurant options and potential competition from ownership; monitor property-crime variability.