| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 28th | Fair |
| Demographics | 51st | Good |
| Amenities | 12th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1123 North Rd, Niles, OH, 44446, US |
| Region / Metro | Niles |
| Year of Construction | 1978 |
| Units | 54 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1123 North Rd Niles Multifamily Investment
Neighborhood renter demand appears supported by manageable rent-to-income levels and steady local employment access, according to WDSuite’s CRE market data. Focus for investors is stable tenancy rather than outsized rent growth at this suburban Youngstown-Warren-Boardman address.
This suburban pocket of Niles offers pragmatic fundamentals for workforce housing. Neighborhood rents sit in a lower-cost range relative to many U.S. areas, and the rent-to-income ratio of 0.14 suggests limited affordability pressure that can help lease retention, based on CRE market data from WDSuite. The neighborhood’s occupancy rate is below top-tier metros but has demonstrated workable stability for value-oriented assets.
Renter-occupied housing accounts for 28.2% of units in the neighborhood (share of housing units that are renter-occupied), indicating a smaller but defined tenant base. For multifamily operators, this points to consistent—if measured—demand with less exposure to rapid turnover typical of highly transient submarkets. Within a 3-mile radius, the renter share is modestly higher, which broadens the potential leasing pool for a 54-unit community.
Local services are limited in immediate proximity (few cafes, groceries, parks, and pharmacies inside the neighborhood), while restaurants index relatively stronger compared with other amenities. Average school ratings are around 2.5 out of 5, indicating mid-pack educational options. These dynamics favor properties that provide on-site convenience and straightforward access to nearby corridors rather than relying on walkable retail density.
Demographics aggregated within a 3-mile radius point to improving incomes and a shifting age mix, with forecasts showing growth in households alongside a slight decline in average household size. For investors, this suggests a gradual expansion of the renter pool and support for occupancy stability as more one- and two-person households look to rental options over the medium term. Median home values in the neighborhood are comparatively low for owners, which can create some competition with entry-level ownership; however, it also supports durable demand for attainable rentals among households prioritizing flexibility.
Relative to the Youngstown-Warren-Boardman metro’s 222 neighborhoods, this area ranks near the safer end of the spectrum, and it sits in a high national safety percentile (higher percentiles indicate safer conditions versus neighborhoods nationwide). In practical terms, that positioning can support renter retention and leasing consistency without relying on premium pricing.
Recent trends also indicate notable year-over-year declines in both property and violent offense estimates in the neighborhood, according to WDSuite’s data. While crime can vary block-to-block and should be evaluated with additional diligence, the directional improvement and above-metro safety standing are constructive from a multifamily operations viewpoint.
The leasing base is supported by a mix of transportation, utilities, manufacturing, and logistics employers within commutable distance, which reinforces everyday workforce demand for rentals. Notable nearby employers include Norfolk Southern, Home Depot distribution, Goodyear, FirstEnergy, and additional rail operations.
- Norfolk Southern — rail & logistics (6.3 miles)
- Home Depot Distribution Center — distribution & logistics (38.4 miles)
- Goodyear Tire & Rubber — manufacturing & corporate (38.6 miles) — HQ
- FirstEnergy — utilities & corporate (40.3 miles) — HQ
- Norfolk Southern Motor Yard — rail operations (40.3 miles)
Built in 1978, this 54-unit asset offers larger average unit sizes (about 790 sf) relative to many older neighborhood comparables and should compete effectively against the metro’s older housing stock. Neighborhood rent levels and a 0.14 rent-to-income ratio indicate manageable affordability pressure, which can underpin retention and occupancy stability. According to CRE market data from WDSuite, the neighborhood’s safety profile and measured rent growth environment align with a workforce housing thesis rather than a premium repositioning play.
Within a 3-mile radius, forecasts show population and household growth over the next five years, alongside rising household incomes and contract rents. This points to a gradually expanding tenant base. Risks include limited neighborhood amenities, occupancy that is not at top-metro levels, and relatively accessible ownership costs that may compete with rentals; thoughtful asset management and unit-level upgrades can help differentiate and sustain leasing.
- 1978 vintage with larger average layouts supports competitive positioning versus older local stock
- Manageable rent-to-income dynamics support lease retention and pricing discipline
- 3-mile forecasts indicate growing tenant base and improving incomes backing demand
- Safety standing competitive in metro aids leasing consistency
- Risks: thin nearby amenities, moderate occupancy, and accessible ownership alternatives may weigh on rent growth