| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 23rd | Poor |
| Demographics | 30th | Poor |
| Amenities | 44th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 140 Wood St, Mansfield, OH, 44903, US |
| Region / Metro | Mansfield |
| Year of Construction | 1973 |
| Units | 40 |
| Transaction Date | 2005-12-01 |
| Transaction Price | $525,000 |
| Buyer | LFM VALLEY PROPERTIES LLC |
| Seller | CSM PROPERTIES OF MID OHIO LLC |
140 Wood St Mansfield Multifamily Value-Add Opportunity
Neighborhood data points to strong day-to-day convenience and a relatively high renter concentration, supporting demand resilience, according to WDSuite’s CRE market data. Metrics cited reflect the surrounding neighborhood, not the property, and indicate a pragmatic value-add path with attention to leasing fundamentals.
The property sits in an Inner Suburb pocket of Mansfield with convenient access to daily needs. The neighborhood ranks competitive among 54 Mansfield neighborhoods for cafes and grocery options and is top quartile nationally on those amenity densities, according to WDSuite, which can aid leasing and retention. By contrast, parks, pharmacies, and childcare options are thinner locally, suggesting residents rely more on private services and short drives for certain needs.
Neighborhood renter-occupied share sits above the metro median (ranked 8th out of 54), indicating a deeper tenant base for multifamily operators. At the same time, neighborhood occupancy trends are below the metro median and in the lower national percentiles, so underwriting should emphasize leasing execution, competitive finishes, and concession discipline to stabilize performance.
Within a 3-mile radius, WDSuite shows recent population growth with a forecast for additional population gains and a meaningful increase in households over the next five years. A growing household count alongside slightly smaller household sizes typically expands the renter pool and supports occupancy stability for well-positioned units.
Median home values in the neighborhood are comparatively low versus national benchmarks. That ownership landscape can create some competition for price-sensitive renters, but it also underscores the role of apartments as more accessible options, with rent-to-income levels indicating manageable affordability pressure that can support retention when paired with thoughtful lease management.
WDSuite does not provide a comparable neighborhood crime rank or national percentile for this location, so investors should benchmark safety using city and metro sources, recent police reports, and property-level measures. Framing risk comparatively—neighborhood versus metro and national—can help calibrate insurance assumptions and capital planning without over-relying on block-level anecdotes.
Regional employment is supported by manufacturing and consumer goods offices within commuting range, which can underpin steady renter demand among workforce households. The list below highlights notable employers by proximity.
- International Paper Company — paper & packaging offices (31.9 miles)
- J.M. Smucker — consumer packaged goods (40.6 miles) — HQ
Built in 1973, the 40-unit asset presents a clear value-add and capital planning opportunity: vintage positioning can be upgraded to compete effectively against older neighborhood stock while addressing aging systems. The surrounding area shows strong daily-needs access and above-median renter concentration, but softer neighborhood occupancy suggests emphasis on renovations that improve leasing velocity and retention. Based on commercial real estate analysis from WDSuite, nearby amenity strengths and a forecasted increase in households within 3 miles point to a larger tenant base to support stabilized operations.
Affordability dynamics are favorable for durable tenancy; rents benchmark below national levels and rent-to-income signals manageable pressure. However, relatively low home values mean ownership can compete at the margin, reinforcing the need for thoughtful unit positioning, customer service, and expense control to maintain pricing power.
- 1973 vintage supports a targeted value-add plan addressing interiors and key systems
- Strong daily-needs access and competitive amenity density aid leasing and retention
- 3-mile projections indicate population and household growth, expanding the renter pool
- Manageable rent-to-income levels support tenant retention and steady collections
- Risks: below-metro neighborhood occupancy and ownership competition require conservative underwriting