| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 68th | Good |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 190 Main St, Wadsworth, OH, 44281, US |
| Region / Metro | Wadsworth |
| Year of Construction | 1979 |
| Units | 95 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
190 Main St, Wadsworth OH Multifamily Investment
Neighborhood occupancy sits among the top decile nationally, supporting stable leasing fundamentals at the submarket level, according to WDSuite’s CRE market data. This positioning suggests steady renter demand for well-managed assets in Wadsworth rather than outsized volatility.
Located in suburban Wadsworth within the Cleveland–Elyria metro, the neighborhood carries a B+ rating and is competitive among 569 metro neighborhoods (ranked 181), indicating solid fundamentals relative to nearby areas. Neighborhood occupancy is strong and ranks in the upper tier of the metro with a national standing in the 90th percentile, a favorable backdrop for income stability.
Livability indicators skew family-friendly: average school ratings are strong (4.0 out of 5), placing the area in the top decile among 569 metro neighborhoods and the top quartile nationally. Park access tests above national average (76th percentile), while daily conveniences are adequate—restaurants sit near the 60th percentile nationally and grocery access hovers modestly above average—though cafés and pharmacies are limited locally.
The neighborhood’s housing stock skews older, with the average construction year around 1960; this 1979 asset is newer than the local norm, which can offer a competitive edge versus mid‑century buildings. Investors should still underwrite for aging systems and select modernization to support positioning against newer deliveries.
Renter concentration at the neighborhood level is roughly one‑third of housing units being renter‑occupied, indicating a primarily owner‑occupied area that still supports multifamily but with a shallower renter pool than urban cores. Within a 3‑mile radius, demographics show modest population growth historically and a notable increase in households, pointing to smaller household sizes and a gradually expanding tenant base that can support occupancy stability.
Home values track in a mid‑market range for the region, and rent-to-income metrics test favorably (low rent burden) at the neighborhood level. For investors, this often translates to improved resident retention and manageable lease management, while acknowledging that more accessible ownership options can create competition for higher‑income renters.
Relative to the Cleveland–Elyria metro, the neighborhood’s overall crime rank sits toward the lower end (ranked 455 among 569 neighborhoods), indicating safety that is below the metro average. Nationally, indicators are mixed: property offenses hover around the national midpoint, while violent‑offense measures track below the national average (lower percentile indicates comparatively higher incidence).
Recent year-over-year readings show an uptick in reported property and violent offense estimates. For underwriting, this supports a cautious approach: consider enhanced lighting, access control, and resident engagement as standard operating practices, and monitor city and neighborhood trendlines over the next few periods rather than drawing conclusions from a single year.
The area draws on a diversified employment base anchored by regional headquarters and major corporate offices, supporting workforce housing demand and reasonable commute times for residents. Key employers include FirstEnergy, J.M. Smucker, Goodyear Tire & Rubber, International Paper, and Erie Insurance Group.
- FirstEnergy — electric utility (11.8 miles) — HQ
- J.M. Smucker — consumer foods (12.0 miles) — HQ
- Goodyear Tire & Rubber — tire & rubber manufacturing (13.4 miles) — HQ
- International Paper Company — packaging & paper (18.0 miles)
- Erie Insurance Group — insurance (19.5 miles)
This 95‑unit, 1979‑vintage asset benefits from neighborhood occupancy in the national top decile, reinforcing expectations for stable leasing and cash flow. Being newer than the area’s mid‑century average stock provides a positioning advantage, although investors should budget for targeted system upgrades and selective renovations to sustain competitiveness.
Within a 3‑mile radius, household counts have increased with forecasts for further growth, implying a gradually expanding renter pool even in a predominantly owner‑occupied area. Home values and a low rent‑to‑income profile support retention and manageable renewal strategies, while proximity to multiple headquarters and large employers underpins steady renter demand. According to CRE market data from WDSuite, these dynamics are consistent with above‑median neighborhood performance in the metro rather than outlier risk.
- High neighborhood occupancy and stable leasing backdrop
- 1979 vintage newer than local average; value‑add via systems and interiors
- Expanding 3‑mile household base and diversified employer proximity support demand
- Affordability (low rent burden) favors retention and disciplined pricing power
- Risks: primarily owner‑occupied market, limited nearby amenities, and recent safety uptick warrant active management