| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 27th | Fair |
| Demographics | 36th | Fair |
| Amenities | 12th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 461 Gypsy Ln, Youngstown, OH, 44504, US |
| Region / Metro | Youngstown |
| Year of Construction | 1978 |
| Units | 72 |
| Transaction Date | 2001-10-02 |
| Transaction Price | $1,355,000 |
| Buyer | GANDER PROPERTIES LTD |
| Seller | GOLDBERG RICHARD D |
461 Gypsy Ln Youngstown Multifamily Investment Opportunity
Renter concentration and attainable rents in the immediate neighborhood point to a dependable tenant base, according to WDSuite’s CRE market data. While occupancy trends locally have been softer than metro norms, the submarket’s affordability supports steady leasing for well-managed assets.
This inner-suburb location in Youngstown balances everyday convenience with value-oriented housing. Grocery access is comparatively strong for the metro (ranked 31 out of 222 neighborhoods and in the 72nd percentile nationally), while cafes, restaurants, parks, and pharmacies are limited nearby—suggesting residents rely more on essentials than lifestyle retail. For investors, that mix typically aligns with workforce housing demand rather than premium amenity expectations.
Neighborhood occupancy is below the metro median, indicating competitive leasing conditions; however, the share of housing units that are renter-occupied is elevated versus national norms (78th percentile). That renter concentration deepens the multifamily tenant pool and can support absorption for properties positioned on value and reliability.
Within a 3-mile radius, recent population has edged down but is forecast to grow over the next five years alongside a notable increase in households and smaller average household size. That pattern points to renter pool expansion and supports occupancy stability as more, smaller households seek rental options.
Median contract rents in the neighborhood sit well below national levels, and rent-to-income ratios are moderate. For operators, this can translate into manageable affordability pressure and potential for steady lease retention, even if headline rent growth remains tempered. Median home values are low for the region and nation, which can invite some competition from ownership, so positioning on convenience, maintenance, and flexible terms becomes important to sustain pricing power.
The property’s 1978 construction is newer than much of the surrounding housing stock (average vintage 1930). That relative youth can be a competitive advantage versus older buildings, while still warranting targeted capital planning for aging systems or selective renovations to meet current renter expectations.
Safety indicators are mixed. At the metro level, the neighborhood’s crime rank sits below the median (ranked 66 out of 222), signaling higher incident levels than many Youngstown-Warren-Boardman neighborhoods. National comparisons indicate roughly middle-of-the-pack conditions overall, with individual categories varying by measure. Investors should underwrite with realistic operating assumptions (lighting, access control, and active management) and monitor trend direction rather than relying on a single data point.
Regional employment is anchored by corporate offices within commuting range, supporting renter demand for workforce housing tied to transportation corridors. Notable nearby employers include Norfolk Southern, Cardinal Health, and Goodyear Tire & Rubber.
- Norfolk Southern — corporate offices (11.0 miles)
- Cardinal Health — corporate offices (43.0 miles)
- Goodyear Tire & Rubber — corporate offices (43.1 miles) — HQ
461 Gypsy Ln offers a value-focused multifamily position in an inner-suburb pocket where renter concentration is elevated and rents are attainable. Based on CRE market data from WDSuite, neighborhood occupancy trails the metro median, but the depth of renter-occupied housing and projected household growth within a 3-mile radius point to a larger tenant base over the next cycle. The 1978 vintage is newer than much of the surrounding stock, providing a relative quality edge while leaving room for targeted upgrades to capture demand.
Home values are low relative to national benchmarks, which can introduce competition from ownership; however, moderate rent-to-income ratios and essential retail access can support retention for well-operated communities. Underwriting should account for measured rent growth, pragmatic operating assumptions, and selective capital plans that enhance durability and curb appeal.
- Elevated renter concentration supports a deeper tenant base and absorption potential
- 1978 construction offers a competitive edge versus older neighborhood stock with value-add upside
- Moderate rent-to-income dynamics favor lease retention and stable collections
- Forecast household growth within 3 miles expands the renter pool over the medium term
- Risks: softer neighborhood occupancy, mixed safety indicators, and competition from low-cost ownership