| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 25th | Fair |
| Demographics | 30th | Poor |
| Amenities | 8th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2635 Tyrell St, Youngstown, OH, 44509, US |
| Region / Metro | Youngstown |
| Year of Construction | 1977 |
| Units | 48 |
| Transaction Date | 2013-12-19 |
| Transaction Price | $1,104,400 |
| Buyer | VALLEY VIEW ESTATES LLC |
| Seller | VALLEY VIEW II ASSOCIATIES LIMITED PARTN |
2635 Tyrell St, Youngstown OH multifamily opportunity
Positioned in Youngstown’s inner-suburban fabric, this 48-unit asset benefits from a sizable renter base and modest rents that support lease-up and retention, according to WDSuite’s CRE market data. The thesis centers on dependable workforce demand with room for operational improvement rather than outsized growth assumptions.
Livability is driven by straightforward access to everyday services within the broader Youngstown-Warren-Boardman metro, though the immediate neighborhood scores below the metro median on amenities (ranked 148 out of 222 neighborhoods). Nearby restaurants are present, but cafes, groceries, parks, and pharmacies are limited in close proximity, which keeps the area more value-oriented than lifestyle-driven.
For investors, the stronger signal is renter demand. Neighborhood tenure data shows a high share of renter-occupied housing (ranked 14 out of 222 metro neighborhoods), indicating a deep tenant pool for workforce housing. Neighborhood occupancy sits below the metro median but has improved over the last five years, supporting a view of steady absorption rather than volatility, based on CRE market data from WDSuite.
Within a 3-mile radius, households have held roughly stable with a small projected increase by 2028 alongside smaller average household sizes. That combination typically expands the renter pool and supports occupancy stability for well-managed multifamily assets. Median contract rents in the nearby area remain comparatively modest and have trended upward, which can aid revenue management while keeping retention risk in check.
Ownership costs in this submarket are relatively accessible by national standards, which can create some competition with entry-level homeownership. For multifamily operators, that context points to a value proposition anchored in reliable operations, cost control, and resident experience rather than premium pricing, a practical lens for commercial real estate analysis.
Safety indicators present a mixed but improving picture. Nationally, the neighborhood scores in the top quartile for both property and violent offense safety, and year-over-year estimates indicate notable declines in incident rates. At the metro level, however, the area ranks 12 out of 222 neighborhoods for overall crime, signaling a comparatively higher concentration of incidents locally even as recent trendlines move in a favorable direction.
For investors, the takeaway is to underwrite with prudent security and site-management practices while recognizing that the national comparatives are constructive and recent trajectory is stabilizing. Property-level measures and tenant screening can help sustain leasing outcomes consistent with submarket norms.
The employment base draws from transportation, manufacturing, utilities, and insurance, supporting workforce housing demand and commute convenience for renters. Notable nearby employers include Norfolk Southern, Goodyear Tire & Rubber, FirstEnergy, Erie Insurance Group, and a Home Depot distribution facility.
- Norfolk Southern — rail & logistics (9.1 miles)
- Goodyear Tire & Rubber — manufacturing (40.9 miles) — HQ
- FirstEnergy — utilities (42.9 miles) — HQ
- Erie Insurance Group — insurance (42.9 miles)
- Home Depot Distribution Center — distribution (43.8 miles)
Built in 1977, the property is newer than much of the area’s mid-century stock, offering a relative competitiveness edge versus older assets while still presenting potential for targeted system upgrades and interior refreshes. The neighborhood’s high renter concentration underpins a broad tenant base, and improving occupancy trendlines suggest stable leasing fundamentals rather than cyclical spikes.
This is a pragmatic, operations-led play: modest area rents, a workforce-driven employment base, and projected household growth within 3 miles point to steady demand and manageable turnover risk. According to CRE market data from WDSuite, the submarket’s rent levels and rent-to-income dynamics support disciplined pricing power, while ownership accessibility argues for a focus on value and resident retention rather than premium positioning.
- High renter concentration supports a broad tenant base and leasing stability.
- 1977 vintage offers competitive positioning vs. older stock, with value-add potential via targeted upgrades.
- Workforce employment access within commuting range underpins steady demand and retention.
- Modest area rents and rising trends enable measured revenue management without overreliance on aggressive growth.
- Risk: Local crime ranks higher than metro average; prudent security/operations planning recommended.