| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Best |
| Demographics | 67th | Good |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1420 Clearbrooke Dr, Brunswick, OH, 44212, US |
| Region / Metro | Brunswick |
| Year of Construction | 1989 |
| Units | 24 |
| Transaction Date | 2006-05-08 |
| Transaction Price | $4,600,000 |
| Buyer | WBR RIVERVIEW LLC 46% |
| Seller | WBR SNELL LLC |
1420 Clearbrooke Dr Brunswick OH Multifamily Opportunity
Neighborhood occupancy trends remain tight and supportive of stable cash flow, according to WDSuite’s CRE market data, with this suburban location drawing steady renter demand from area employers.
The property sits in a suburban neighborhood rated A and ranked 48 out of 569 across the Cleveland–Elyria metro, placing it in the top quartile locally. Neighborhood occupancy is 96.4%, a level that typically supports consistent leasing and limited turnover risk for multifamily investors based on CRE market data from WDSuite. Median contract rents are mid-market for the metro and the rent-to-income ratio sits in a favorable range, suggesting lower affordability pressure and potential for durable retention.
Livability indicators are balanced: restaurants and groceries per square mile track above national midpoints, pharmacies are comparatively accessible, while park access is limited. Average school ratings are strong for the metro and competitive nationally, which can bolster long-term neighborhood desirability for family-oriented renters. Home values sit around national midpoints for suburbs of this profile, reinforcing sustained reliance on rental housing without materially constraining move-up options.
Vintage context matters: the neighborhood’s average construction year is 1984, while the subject was built in 1989. Being somewhat newer than the local average can aid competitive positioning versus older stock; however, investors should still plan for system updates and common-area refreshes typical of late-1980s assets to maintain positioning and capture renovation upside.
Within a 3-mile radius, population has grown in recent years alongside an increase in households and smaller average household sizes. Looking forward, WDSuite’s data indicates households are projected to continue increasing even if population growth moderates, which expands the renter pool and supports occupancy stability. The area’s income profile skews higher than national midpoints, which can deepen the tenant base for quality, well-managed units.
Tenure patterns show a moderate renter concentration at the neighborhood level and within the 3-mile view. For investors, this points to a viable but not oversaturated renter base: demand is supported by household growth and commuting access, while lease-up success will hinge on competitive finishes, parking, and professional management.
Safety indicators for the neighborhood sit below the metro median, with crime ranks that are weaker relative to many Cleveland–Elyria areas and national percentiles that are not in the top half. That said, recent year-over-year data show meaningful declines in violent incidents and a reduction in property offenses, indicating an improving trend.
Investors should underwrite accordingly: emphasize lighting, access control, and resident engagement, and benchmark insurance and security line items to nearby suburban comps. Monitoring trend continuity is prudent, as continued improvement would support leasing stability and renewal rates.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience, including Texas Instruments, Airgas Merchant Gases, TravelCenters of America, Norfolk Southern Motor Yard, and FirstEnergy.
- Texas Instruments — semiconductor offices (13.3 miles)
- Airgas Merchant Gases — industrial gases (13.8 miles)
- Travelcenters Of America — travel centers (15.8 miles) — HQ
- Norfolk Southern Motor Yard — rail operations (16.3 miles)
- FirstEnergy — utilities (18.3 miles) — HQ
This 24-unit 1989-vintage asset benefits from a top-quartile suburban neighborhood within the Cleveland–Elyria metro. According to CRE market data from WDSuite, neighborhood occupancy is elevated and renter affordability appears manageable, supporting retention and steady collections. The area’s amenities skew toward daily-needs retail and services, schools rate well, and employer access is diversified within a 20-mile commute band—factors that typically reinforce tenant demand.
Relative to the neighborhood’s 1984 average vintage, the property’s year of construction positions it slightly newer than much of the local stock, with value-add potential through targeted interior and common-area updates. Forward-looking demographics within a 3-mile radius indicate continued growth in households alongside smaller household sizes, which expands the renter pool even if population growth cools. Key watch items include safety metrics that trail metro medians and limited park access, both of which can be mitigated through property-level enhancements and service quality.
- Top-quartile suburban location in the Cleveland–Elyria metro with historically tight neighborhood occupancy
- 1989 construction offers a slightly newer profile than local averages with practical value-add pathways
- Household growth and smaller household sizes within 3 miles support a larger renter pool and leasing stability
- Balanced daily-needs amenities and access to regional employers underpin demand and renewals
- Risks: safety metrics below metro medians and limited parks; plan for security, lighting, and community-building to support retention