| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Best |
| Demographics | 52nd | Good |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 630 Straub Rd W, Mansfield, OH, 44904, US |
| Region / Metro | Mansfield |
| Year of Construction | 1972 |
| Units | 24 |
| Transaction Date | 2005-02-15 |
| Transaction Price | $1,620,000 |
| Buyer | STIMENS KURT |
| Seller | KRANTZ CARL W |
630 Straub Rd W Mansfield Multifamily Value-Add
Renter concentration in the surrounding neighborhood supports a steady tenant base while in-place rents trend on the lower side for the metro, according to WDSuite’s CRE market data. This positions the asset for practical upgrades aimed at retention and measured rent lifts.
The property sits in an Inner Suburb pocket of Mansfield that ranks 2 out of 54 metro neighborhoods with an A+ neighborhood rating, indicating top-tier positioning locally. Neighborhood occupancy is around 91%, which places it below the metro median, but a renter-occupied share near 36% signals a meaningful depth of tenant demand for multifamily. Median contract rents for the neighborhood are comparatively low versus national norms, reinforcing leasing stability and potential pricing headroom for well-executed improvements.
Day-to-day convenience is a relative strength: grocery access and pharmacies score in the low- to mid-70s percentiles nationally, and parks and cafes are above average as well. These amenity markers suggest practical livability advantages that can help with retention and leasing velocity. For investors conducting multifamily property research, these localized amenity cues often correlate with steady renter interest even when broader metro dynamics are mixed.
Within a 3-mile radius, recent years show modest population softness and relatively flat household counts, but forecasts point to growth in both households and incomes by 2028, indicating a larger tenant base and rising purchasing power. Average household size is trending smaller, which aligns with demand for efficient floor plans; the asset’s average unit size of roughly 605 square feet is consistent with one-bedroom–heavy renter demand profiles.
The neighborhood’s average construction year skews to the early 1990s, while the subject was built in 1972. The older vintage underscores the importance of capital planning but also creates value-add potential: modernizing interiors and addressing building systems can improve competitive positioning versus newer stock while maintaining an attainable rent profile.
Neighborhood-level crime metrics were not available in WDSuite for this location at the time of analysis. Investors typically benchmark safety by comparing neighborhood trends to city and county patterns and by reviewing multiple sources over time rather than relying on a single snapshot. As with any acquisition, align underwriting assumptions with third-party due diligence and historical trend reviews.
Regional employment anchors within commuting reach support renter demand via steady payrolls and diversified industries. Notable names include paper products and branded consumer goods, which help underpin a broad workforce renter base.
- International Paper Company — paper products (32.8 miles)
- J.M. Smucker — consumer goods (41.6 miles) — HQ
Built in 1972 with 24 units, the property offers clear value-add levers in a locally top-ranked neighborhood where rents remain comparatively attainable. According to CRE market data from WDSuite, neighborhood occupancy sits slightly below the metro median while renter concentration is meaningful, suggesting stable demand with room to improve pricing through targeted renovations and operational execution.
Amenity access (grocers, pharmacies, parks, and cafes) scores above national averages, aiding retention. Within a 3-mile radius, forecasts indicate growth in households and incomes by 2028, expanding the renter pool and supporting measured rent gains. The older vintage implies near-term capex for systems and finishes, but modernization can enhance competitiveness against 1990s-era stock while keeping an attainable cost basis.
- Top-tier local positioning with practical amenity access that supports leasing and retention
- Value-add upside: 1972 vintage provides renovation path to narrow the gap with newer 1990s stock
- Renter depth and attainable neighborhood rents provide a foundation for measured rent lifts
- Forward indicators: 3-mile projections show household and income growth, supporting demand
- Risks: older building systems and neighborhood occupancy below the metro median require disciplined capex and leasing management