| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 68th | Good |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 195 S Pardee St, Wadsworth, OH, 44281, US |
| Region / Metro | Wadsworth |
| Year of Construction | 1975 |
| Units | 75 |
| Transaction Date | 2012-09-07 |
| Transaction Price | $1,000,000 |
| Buyer | 195 SOUTH PARDEE STREET LLC |
| Seller | LINCOLN APARTMENTS LLC |
195 S Pardee St Wadsworth Multifamily Investment Opportunity
Neighborhood occupancy is strong and renter demand appears durable in this suburban pocket of the Cleveland–Elyria metro, according to WDSuite’s CRE market data. The area’s stability and schools support retention, while the 1975 vintage suggests competitive positioning versus older stock nearby.
This location in Wadsworth sits within a suburban neighborhood rated B+ and ranks 181 out of 569 Cleveland–Elyria neighborhoods, indicating performance above the metro median on several fundamentals. Neighborhood occupancy is high and ranks 81 of 569, which places it in the top quartile nationally for stability — a constructive backdrop for sustaining leased-up multifamily assets.
Livability drivers are balanced: restaurants density trends above many peer areas (around the 62nd national percentile), parks access is stronger (roughly the 76th percentile), while cafes and pharmacies are thinner. Public school outcomes average near 4.0/5 and rank 38 of 569 metro neighborhoods, positioning the area in the top quartile nationally — a factor that can bolster family renter retention.
Within a 3-mile radius, population and households have expanded over the past five years, with households growing faster than population — implying smaller household sizes and a larger tenant base for multifamily. Forward-looking estimates point to continued gains in households, which supports occupancy stability and steady leasing.
Tenure patterns show a moderate renter-occupied share locally (about one-third of units), signaling a meaningful but not saturated renter pool. Home values sit in a mid-range for the region, and the rent-to-income profile trends favorable (around the 80th percentile nationally), which can support lease retention and reduce turnover risk; however, relatively accessible ownership options may temper near-term pricing power and require disciplined revenue management.
Vintage context matters: the property s 1975 construction is newer than the area’s average vintage (1960). That positioning can enhance competitiveness versus older nearby stock, though investors should still underwrite aging systems and selective modernization to protect rentability over the hold.
Safety metrics indicate mixed signals. The neighborhood’s crime rank is 455 out of 569 within the Cleveland–Elyria metro, suggesting it performs below many metro peers. Nationally, composite safety indicators land in lower percentiles (around the mid-30s to 40s), pointing to below-average safety compared with neighborhoods nationwide.
Property-related offenses benchmark near national median levels, while violent offense indicators track somewhat below the national median. Year-over-year changes have been volatile in recent readings. Investors typically address this by emphasizing lighting, access control, and community standards, and by aligning underwriting with local trend data rather than single-period swings.
The area draws from a diversified employment base anchored by regional headquarters and major corporate offices, supporting commuter convenience and a steady renter pool. Notable nearby employers include FirstEnergy, J.M. Smucker, Goodyear, International Paper, and Erie Insurance Group.
- FirstEnergy — utilities (11.9 miles) — HQ
- J.M. Smucker — food products (12.0 miles) — HQ
- Goodyear Tire & Rubber — manufacturing (13.5 miles) — HQ
- International Paper Company — paper & packaging (18.0 miles)
- Erie Insurance Group — insurance (19.6 miles)
195 S Pardee St offers scale at 75 units in a suburban submarket where neighborhood occupancy ranks 81 of 569 in the Cleveland–Elyria metro, a top-quartile national position that supports leasing stability. Within a 3-mile radius, recent and projected increases in households indicate a growing renter base, while school quality and proximity to regional employers underpin retention. The 1975 vintage is newer than the area s average stock, suggesting relative competitiveness; investors should still plan for targeted system updates and cosmetic upgrades to sustain positioning against refreshed comparables.
Home values and rent-to-income metrics point to an accessible cost of living that supports retention but may temper rent growth in an ownership-leaning market. Based on commercial real estate analysis using WDSuite’s CRE market data, the combination of high neighborhood occupancy, moderate renter concentration, and diversified employment access supports a durable income profile with prudent asset management.
- High neighborhood occupancy (top quartile nationally) supports leasing stability
- Household growth within 3 miles expands the tenant base and supports demand
- 1975 vintage is newer than nearby stock, with value-add potential via selective upgrades
- Proximity to regional HQs and major employers reinforces demand and retention
- Risks: ownership-leaning tenure, thinner amenity mix in select categories, and below-average safety rankings require disciplined operations and underwriting