| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 25th | Fair |
| Demographics | 30th | Poor |
| Amenities | 8th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2430 Tyrell St, Youngstown, OH, 44509, US |
| Region / Metro | Youngstown |
| Year of Construction | 1977 |
| Units | 84 |
| Transaction Date | 2013-12-19 |
| Transaction Price | $2,101,900 |
| Buyer | VALLEY VIEW ESTATES LLC |
| Seller | VALLEY VIEW ASSOCIATES LIMITED PARTNERSH |
2430 Tyrell St Youngstown Workforce Multifamily Opportunity
Renter concentration is near half of neighborhood housing and occupancy has improved over the past five years, according to WDSuite’s CRE market data, suggesting a stable tenant base at accessible rent levels.
Located in Youngstown’s inner-suburb fabric, the area around 2430 Tyrell St skews value-oriented with rents and home values well below national norms, which helps sustain renter demand and lease retention. Neighborhood occupancy has trended up in recent years and the renter-occupied share sits in the top quartile nationally, indicating depth in the tenant pool for an 84-unit asset.
The building’s 1977 vintage is newer than the neighborhood’s older housing stock (average year 1950). That positioning can be competitively advantageous versus pre-war inventory while still warranting targeted capital planning for aging systems or common-area modernization to drive rentability.
Amenity density within the immediate neighborhood is limited (food, grocery, parks, childcare are sparse by national comparison), so most residents rely on nearby corridors for daily needs. For investors, this typically favors workforce housing with functional unit finishes over premium amenity spends. Housing indicators are below the national median, but improving occupancy and a solid renter base help support ongoing absorption.
Within a 3-mile radius, recent commercial real estate analysis from WDSuite indicates relatively steady population levels with a projected increase in households over the next five years, implying a larger tenant base even as household sizes edge smaller. That mix, alongside modest rent levels and a rent-to-income profile consistent with value product, supports demand resilience and manageable lease management considerations.
Safety patterns compare favorably in national context: the neighborhood aligns with the top quartile nationwide for overall crime and violent-offense measures, signaling comparatively lower incident rates than many U.S. neighborhoods. Year-over-year trends also indicate a pronounced decline in property offenses, which, if sustained, can reinforce resident retention and leasing stability.
At the metro level, conditions can vary block to block, so prudent underwriting should incorporate property-specific security plans and recent comps. The direction of change remains the key takeaway for investors: improving trends support long-run occupancy stability but should be monitored alongside operating practices and lighting/visibility upgrades as needed.
The employment base combines rail transportation, manufacturing, utilities, insurance, and large-format distribution — sectors that underpin steady renter demand and commuter convenience for workforce housing. Featured employers include Norfolk Southern, Goodyear Tire & Rubber, FirstEnergy, Erie Insurance Group, and a Home Depot distribution hub.
- Norfolk Southern — rail transportation (9.1 miles)
- Goodyear Tire & Rubber — tires & rubber (40.9 miles) — HQ
- FirstEnergy — electric utility (42.9 miles) — HQ
- Erie Insurance Group — insurance (43.0 miles)
- Home Depot Distribution Center — distribution center (43.8 miles)
This 84-unit, 1977-vintage asset is positioned for durable, value-oriented demand. The neighborhood’s renter-occupied share is high by national standards, and occupancy has improved over the last five years, supporting income stability at attainable rent levels. Based on multifamily property research from WDSuite, household counts within a 3-mile radius are projected to rise, pointing to a larger tenant base even as household sizes trend smaller.
The property is newer than much of the surrounding housing stock, which can enhance competitive standing versus older inventory with targeted upgrades. Amenity density is limited locally and homeownership is relatively accessible in this market, so investors should balance value-add scopes with pragmatic finishes, mindful of potential competition from entry-level ownership and the need to maintain pricing power through retention.
- High renter concentration supports depth of tenant demand and lease-up consistency
- 1977 vintage offers competitive positioning versus older neighborhood stock with focused capex
- 3-mile household growth outlook expands the renter pool and supports occupancy
- Risks: limited neighborhood amenities and relatively low ownership costs may temper rent growth; prioritize retention and cost-effective improvements