| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 21st | Poor |
| Demographics | 28th | Poor |
| Amenities | 13th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1840 Market St, Youngstown, OH, 44507, US |
| Region / Metro | Youngstown |
| Year of Construction | 1988 |
| Units | 60 |
| Transaction Date | 1987-01-14 |
| Transaction Price | $64,000 |
| Buyer | CALVARY ESTATES INC |
| Seller | --- |
1840 Market St Youngstown Multifamily Value-Add Opportunity
Positioned in a renter-heavy pocket of Youngstown, the asset benefits from a deeper tenant base and stable leasing conditions, according to WDSuite’s CRE market data. With a 1988 vintage relative to older nearby stock, modest upgrades could enhance competitiveness and drive rent performance.
Livability signals are mixed but investable. Neighborhood retail is anchored by grocery access that ranks above much of the metro (27th of 222 neighborhoods), while cafes, restaurants, parks, and pharmacies are sparse nearby. That dynamic supports everyday convenience but suggests on-site amenities and resident services may matter more for retention.
Rents and vacancies reflect a market that has been tightening: neighborhood occupancy has improved over the past five years, though it remains below national medians. Notably, renter-occupied housing accounts for a comparatively high share of units (top quartile nationally), indicating a deeper pool of prospective tenants and steadier demand for multifamily.
Vintage and positioning: the property’s 1988 construction is newer than the area’s older housing base (average circa 1933). That relative youth can be a competitive advantage against legacy stock, while investors should still plan for system updates and targeted renovations consistent with a late-1980s build.
Demographics within a 3-mile radius show recent softness in population and households, with forecasts pointing to household growth and a smaller average household size over the next five years. This mix implies a gradual renter pool expansion and supports occupancy stability if units are priced and finished for value-conscious demand.
Ownership context is comparatively low-cost in this submarket, which can create competition with renting; however, that same dynamic can favor value-oriented multifamily where well-maintained, move-in-ready units and predictable operating costs encourage lease retention.
Safety indicators trend favorably in national context while remaining mixed locally. The neighborhood compares well versus many U.S. areas (crime measures sit in the top quartile nationally), yet within the Youngstown metro it ranks toward the lower end (14th of 222, where lower ranks indicate higher crime). For investors, this suggests tenant sensitivity to security features and lighting, but not an outlier risk at the national level.
Recent trends are constructive: estimated violent and property offenses have declined year over year, with violent incidents improving materially. Continued attention to access control, cameras, and unit hardening can help support leasing and retention in line with these improvements.
Regional employment is anchored by transportation, healthcare distribution, manufacturing, and insurance offices, supporting workforce housing demand and reasonable commute times for residents. Nearby employers include Norfolk Southern, Cardinal Health, Goodyear Tire & Rubber, and Erie Insurance Group.
- Norfolk Southern — rail transportation offices (12.1 miles)
- Cardinal Health — healthcare distribution (40.4 miles)
- Goodyear Tire & Rubber — manufacturing HQ (42.9 miles) — HQ
- Erie Insurance Group — insurance (43.9 miles)
The 60-unit, 1988-vintage asset offers a practical value-add profile in a renter-oriented pocket of Youngstown. Relative to older neighborhood stock, the property can compete on basic finishes and functionality, while targeted capital—common-area refresh, in-unit updates, and efficiency upgrades—can widen its appeal to value-conscious renters. According to CRE market data from WDSuite, neighborhood occupancy has trended upward and renter concentration sits in the top quartile nationally, supporting depth of tenant demand.
Within a 3-mile radius, forecasts point to growth in households and a gradual shift toward smaller household sizes, which typically broadens the renter base and supports lease-up and renewal velocity. Ownership remains comparatively low-cost in this submarket, so the investment case leans on delivering reliable operations and clean, well-maintained units to sustain pricing power and retention. Local safety metrics are mixed—stronger nationally than within the metro—making property-level security and lighting worthwhile focus areas.
- Renter-heavy neighborhood (top quartile nationally) supports a deeper tenant base and leasing stability.
- 1988 vintage offers value-add upside versus older local stock with targeted interior and systems updates.
- Household growth and smaller household sizes within 3 miles point to a broader renter pool over the next five years.
- Workforce-oriented employers within commuting range underpin steady renter demand.
- Risks: locally elevated crime relative to the metro and competitive pressure from low-cost homeownership; emphasize security and value positioning.