| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Good |
| Demographics | 31st | Poor |
| Amenities | 10th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 944 Woodville Rd, Mansfield, OH, 44907, US |
| Region / Metro | Mansfield |
| Year of Construction | 2002 |
| Units | 30 |
| Transaction Date | 2001-08-08 |
| Transaction Price | $92,445 |
| Buyer | FIRST RICHLAND MORROW HOUSING INC VII |
| Seller | ONTARIO HOUSING PARTNERS |
944 Woodville Rd Mansfield 30-Unit Multifamily Investment
Neighborhood-level occupancy is strong and renter demand is durable, according to WDSuite’s CRE market data, supporting stable income fundamentals for a mid-size asset. The investment case centers on workforce housing dynamics within Mansfield’s inner-suburban fabric rather than premium amenity appeal.
Located in Mansfield’s Inner Suburb, the property benefits from a neighborhood rating of C+ and steady renter demand. At the neighborhood level, occupancy trends track in the top quartile nationally and are competitive among Mansfield neighborhoods (rank 20 of 54), signaling leasing stability. Renter-occupied share is also strong (rank 3 of 54; top quartile nationally), indicating a deep tenant base for multifamily operators.
Vintage positioning is a differentiator: the property’s 2002 construction is newer than the neighborhood’s average vintage (1971). For investors, this typically means fewer near-term capital items than older local stock and better competitive positioning against legacy assets, while still allowing targeted value-add or systems modernization over the hold.
Within a 3-mile radius, demographics show modest population growth over the last five years and an increase in households, expanding the prospective renter pool. Forecasts point to further gains in both population and households by 2028, which should support occupancy stability and leasing velocity as more renters enter the market.
Affordability dynamics are favorable for retention: neighborhood rent-to-income levels remain manageable, and contract rents have risen from a low base. However, Mansfield’s relatively low home values compared with many U.S. markets can create some competition with ownership options; operators may prioritize resident experience and lease management to sustain pricing power. Amenities are limited at the block level (amenities rank 29 of 54; low national percentile), though grocery access is comparatively better than other categories. Average school ratings in the neighborhood sit below national norms, which may matter for some family renters but is less critical for workforce-oriented demand.
Comparable crime metrics for this neighborhood are not available in the current WDSuite release for Mansfield, so investors should benchmark safety using local sources and time-of-day observations. In practice, underwriting can incorporate property-level security measures and historical tenancy data to contextualize neighborhood conditions.
Regional employers within commuting range support workforce housing demand and help underpin retention for stabilized assets, including International Paper and J.M. Smucker.
- International Paper Company — packaging and paper (30.9 miles)
- J.M. Smucker — food manufacturing (39.7 miles) — HQ
This 30-unit asset built in 2002 offers a newer-vintage alternative to much of the local stock, aligning with Mansfield’s workforce renter base. Neighborhood occupancy ranks competitively within the metro and trends in the top quartile nationally, supporting income durability. Within a 3-mile radius, households have been increasing and are projected to expand further, pointing to a larger tenant base and sustained leasing momentum. According to WDSuite’s CRE market data, rent levels remain relatively manageable versus incomes, which can aid retention while leaving room for disciplined rent growth through operational improvements.
Key considerations include limited nearby amenities and below-average school ratings at the neighborhood level, as well as potential competition from accessible ownership given lower local home values. The property’s newer vintage may moderate near-term capital needs, while targeted upgrades can enhance positioning against older comparables and support steady cash flow.
- Newer 2002 vintage versus neighborhood average, supporting competitive positioning and moderated near-term capex
- Strong neighborhood occupancy and sizable renter-occupied share underpin demand stability
- 3-mile radius shows growing and forecast-expanding households, supporting a larger tenant base
- Manageable rent-to-income dynamics support retention with potential for operational rent uplift
- Risks: limited local amenities/school ratings and some competition from ownership options in a lower-cost market