| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Best |
| Demographics | 52nd | Good |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1568 Lexington Ave, Mansfield, OH, 44907, US |
| Region / Metro | Mansfield |
| Year of Construction | 1972 |
| Units | 48 |
| Transaction Date | 2007-07-05 |
| Transaction Price | $120,000 |
| Buyer | APPLESEED PROPERTIES LLC |
| Seller | ZENKO PROPERTIES APPLESEED LLC |
1568 Lexington Ave Mansfield 48-Unit Multifamily
According to WDSuite’s CRE market data, neighborhood occupancy is steady and rents track on the more attainable side for Mansfield, supporting demand depth and lease retention. The submarket’s renter base and daily-needs access point to durable, workforce-oriented tenancy rather than reliance on discretionary movers.
This inner-suburb location of Mansfield balances everyday convenience with investment practicality: grocery and pharmacy access rank competitive among 54 metro neighborhoods, and cafes are similarly well represented. Childcare options are thinner by comparison, which may tilt the tenant profile toward smaller households or working adults.
From an investor lens, neighborhood rents sit below national norms (with a manageable rent-to-income profile), which can aid retention while limiting near-term pricing power. Median home values in the area are moderate for the region, so ownership remains attainable for some households; that dynamic can temper outsized rent growth but often sustains steady multifamily demand as renters weigh total occupancy costs and flexibility.
Neighborhood occupancy is around the metro median, and the share of renter-occupied housing units is roughly one-third, indicating a meaningful, though not dominant, renter concentration that supports ongoing leasing velocity. Compared with many U.S. neighborhoods, this area’s amenity mix is mid-range nationally but rates competitive among Mansfield peers, aligning with workforce housing needs. Based on WDSuite’s multifamily property research, NOI per unit in the neighborhood trends mid-pack locally, consistent with stabilized, needs-based tenancy rather than premium positioning.
Demographic statistics aggregated within a 3-mile radius show a small decline in recent population counts but a projected increase in households over the next five years, implying smaller household sizes and a potential expansion of the renter pool. For investors, that combination can support occupancy stability even if headline population trends remain mixed.
WDSuite does not publish neighborhood-level crime rankings for this area in the current release, so investors should review Mansfield and Richland County public safety reports and historical trends to contextualize risk. A prudent approach is to compare multi-year, neighborhood-scale data with broader metro patterns and to monitor any property-level security measures that support resident retention.
The broader employment base is diversified across manufacturing and consumer goods, offering regional job stability that can underpin renter demand and commute convenience for residents. Key nearby employers include International Paper Company and The J.M. Smucker Company.
- International Paper Company — paper & packaging (33.4 miles)
- J.M. Smucker — consumer packaged goods (42.2 miles) — HQ
Built in 1972, the 48-unit asset is older than the neighborhood average stock, which points to potential value-add and targeted capital planning to enhance competitiveness against newer vintages. According to CRE market data from WDSuite, the neighborhood’s occupancy trends sit around the metro median while rents remain comparatively attainable, indicating a tenant base oriented to essentials rather than lifestyle premiums.
Within a 3-mile radius, recent population change has been modest, but forecasts indicate household growth and smaller household sizes—conditions that can expand the renter pool and support stable leasing. Ownership costs are moderate for the region, so while rent growth may be measured, demand for well-managed, functional units should remain resilient, especially with proximity to daily-needs amenities.
- 1972 vintage suggests value-add and capex opportunities to improve unit finishes and operating efficiency.
- Attainable neighborhood rents and a meaningful renter concentration support retention and steady leasing.
- 3-mile household growth outlook implies a larger renter pool and supports occupancy stability over time.
- Daily-needs amenity access (grocery, pharmacy) is competitive locally, aligning with workforce demand.
- Risks: moderate homeownership costs create some competition for tenants; older systems may require near-term capital; childcare access is limited in-neighborhood.