| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Good |
| Demographics | 31st | Poor |
| Amenities | 10th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 260 E Cook Rd, Mansfield, OH, 44907, US |
| Region / Metro | Mansfield |
| Year of Construction | 1999 |
| Units | 24 |
| Transaction Date | 1998-07-22 |
| Transaction Price | $65,000 |
| Buyer | FIRST RICHLAND MORROW HOUSING INC VI |
| Seller | ONTARIO HOUSING PARTNERS |
260 E Cook Rd Mansfield 24-Unit Multifamily
Stabilized renter demand and a 1999 vintage relative to older nearby stock point to durable occupancy, according to WDSuite’s CRE market data.
Located in Mansfield’s inner-suburb fabric, the property benefits from neighborhood occupancy around 96.8%, which is competitive among 54 Mansfield neighborhoods and sits in the top quintile nationally (82nd percentile) based on CRE market data from WDSuite. A renter-occupied share near 51% ranks 3rd of 54 — top quartile locally — indicating a deep tenant base that supports leasing stability for multifamily.
The area’s housing stock skews older (average 1971), while this asset’s 1999 construction positions it newer than much of the competitive set — typically an advantage for curb appeal and operating resiliency, while still warranting system updates over a long hold. Median contract rents in the neighborhood remain below national norms and have grown at a high-teens pace over five years, supporting retention while allowing measured pricing strategies.
Everyday convenience is serviceable rather than lifestyle-driven: grocery access is competitive among 54 Mansfield neighborhoods (62nd national percentile), but cafes, restaurants, parks, and pharmacies are limited within the immediate neighborhood. Average school ratings trend low versus the metro (rank 15 of 54; 15th national percentile), which may temper appeal for some family renters but aligns with value-oriented demand segments.
Within a 3-mile radius, population and households have grown recently and are projected to continue increasing over the next five years, expanding the renter pool. Household sizes are edging smaller, which typically supports steady demand for apartments. Home values around $101,612 and a value-to-income ratio that trails national levels point to a more accessible ownership market; investors should consider potential competition from entry-level ownership alongside the neighborhood’s renter concentration and rent-to-income ratio near 0.18 that supports lease retention.
Neighborhood-level crime metrics are not available in WDSuite for this area, so investors should review local public safety resources and recent trends when underwriting. Without comparative rank or percentile data, a prudent approach is to assess submarket-level patterns, property-level security measures, and the tenant profile to gauge potential impacts on leasing and operating costs.
Regional employers in manufacturing and food products provide a diversified employment base that can underpin workforce renter demand and support retention for well-managed assets. Notable nearby employers include International Paper Company and J.M. Smucker.
- International Paper Company — paper & packaging (30.9 miles)
- J.M. Smucker — food products (39.7 miles) — HQ
This 24-unit, 1999-built asset offers relative competitiveness versus older neighborhood stock (average 1971), supporting curb appeal and operating durability while leaving room for targeted modernization as systems age. Neighborhood occupancy is competitive among Mansfield submarket peers and ranks in the top quintile nationally, suggesting stable cash flow potential in a renter-heavy area. According to CRE market data from WDSuite, rents remain below national norms with measured growth, balancing pricing power with retention.
Within a 3-mile radius, population and household growth — alongside slightly smaller household sizes — indicate a broader tenant base over time, which can support occupancy stability. At the same time, relatively accessible ownership costs in this market mean investors should plan for some competition with entry-level ownership while leaning into value-oriented positioning and thoughtful amenity upgrades.
- 1999 vintage relative to a 1971 neighborhood average provides a competitive edge while allowing focused value-add planning
- Competitive occupancy among 54 Mansfield neighborhoods and top-quintile national standing support durable leasing
- Below-national rent levels with steady growth enhance retention and measured rent management
- 3-mile population and household growth expand the tenant base, supporting long-run demand
- Risk: more accessible ownership options can compete with rentals; underwriting should emphasize value positioning and resident experience