| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Best |
| Demographics | 74th | Best |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1297 High St, Wadsworth, OH, 44281, US |
| Region / Metro | Wadsworth |
| Year of Construction | 1998 |
| Units | 84 |
| Transaction Date | 2016-07-01 |
| Transaction Price | $6,230,000 |
| Buyer | --- |
| Seller | --- |
1353 High St, Wadsworth OH Multifamily Investment
Neighborhood occupancy is in the high-90s, supporting stable leasing fundamentals at the submarket level, according to WDSuite s CRE market data. With renter demand reinforced by a balanced renter concentration in the area, the asset s positioning favors steady cash flow over the cycle.
Wadsworth s neighborhood surrounding 1353 High St carries an A+ rating and ranks 18 out of 569 Cleveland Elyria neighborhoods, placing it in the top quartile locally. Median contract rents in the neighborhood sit above the metro median and near the national mid-range (national percentile ~59), while neighborhood occupancy is strong (national percentile ~88), indicating healthy renter demand and lease stability at the neighborhood level.
The property s 1998 vintage is newer than the neighborhood s average construction year of 1988. For investors, that typically means fewer near-term capital needs versus older stock and competitive positioning against 1980s-era assets, while still leaving room for targeted value-add or systems modernization to enhance NOI over time.
Amenity access is mixed. Cafes and restaurants score above national mid-range percentiles, and parks and pharmacies are similarly positioned, but grocery options within the immediate neighborhood are limited. That dynamic can modestly affect daily convenience yet does not materially detract from overall livability in this inner-suburban setting.
Within a 3-mile radius, demographics point to a growing tenant base: population and households have expanded in recent years, with further household growth projected over the next five years. A renter-occupied share near two-fifths at the neighborhood level signals a meaningful multifamily customer base, while a rent-to-income ratio around 0.12 suggests manageable affordability pressure that can support retention and measured pricing power. School ratings data are not available in this dataset; investors may wish to underwrite conservatively on that input.
Safety indicators are mixed and should be underwritten with care. The neighborhood s crime profile ranks 400 out of 569 within the Cleveland Elyria metro, suggesting it is not among the higher-crime clusters locally, but it sits below the national median overall (national crime percentile ~39). Property offenses score comparatively better (around the 63rd percentile nationally) and violent offense levels are also above national medians for safety (around the 61st percentile), though the most recent one-year change in violent offenses shows volatility. Trend monitoring and localized comps are prudent for risk assessment.
The area benefits from proximity to established employers that support steady renter demand through diverse, commute-friendly jobs, including energy, manufacturing, and consumer goods headquarters as well as major corporate offices listed below.
- FirstEnergy D energy & utilities (11.4 miles) D HQ
- Goodyear Tire & Rubber D manufacturing & corporate (13.4 miles) D HQ
- J.M. Smucker D consumer goods (14.3 miles) D HQ
- International Paper Company D paper & packaging (19.9 miles)
- Erie Insurance Group D insurance services (21.2 miles)
This 84-unit, 1998-vintage asset is positioned in a top-ranked inner-suburban neighborhood where occupancy runs strong and median rents sit above metro medians, supporting durable cash flow expectations versus older competing stock. Renter concentration at the neighborhood level is meaningful without being saturated, and a rent-to-income ratio near 0.12 indicates manageable affordability pressure that can aid retention. Within a 3-mile radius, recent population growth and a projected increase in households point to a larger tenant base and continued leasing depth over the next cycle, based on CRE market data from WDSuite.
The vintage provides relative competitive advantages against 1980s assets while still allowing targeted renovations to capture incremental NOI. Ownership costs in the area are moderately elevated relative to national norms, which can sustain renter reliance on multifamily housing; however, a sizable owner-occupied base means some competition from for-sale options. Amenity access is generally favorable outside of limited immediate grocery choices, and safety signals warrant monitoring given recent volatility in violent offense trends.
- Strong neighborhood occupancy and above-metro median rents support income stability
- 1998 vintage offers competitiveness vs. 1980s stock with value-add potential
- 3-mile radius shows population and household growth, expanding the renter pool
- Balanced renter concentration and manageable rent-to-income ratio aid retention
- Risks: mixed safety signals, limited immediate grocery options, and competition from ownership