| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Best |
| Demographics | 40th | Fair |
| Amenities | 13th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1150 Salt Springs Rd, Warren, OH, 44481, US |
| Region / Metro | Warren |
| Year of Construction | 1982 |
| Units | 56 |
| Transaction Date | --- |
| Transaction Price | $700,000 |
| Buyer | PRESIDENTIAL SUITES ASSOCIATES LTD |
| Seller | APPLEGATE APARTMENTS OF LORDSTOWN LTD |
1150 Salt Springs Rd Warren OH Multifamily Investment
Neighborhood occupancy trends point to stable renter demand in the immediate area, according to WDSuite s CRE market data. Positioning and pricing strategy should focus on workforce tenants and lease retention rather than rapid rent-ups.
The property sits in a rural pocket of Warren within the Youngstown Warren Boardman metro. Amenities are limited locally (amenity strength is in the lower tier nationally), so living here tends to be more car-oriented with daily needs met over a wider radius. Grocery access ranks above the metro median (90 of 222 neighborhoods), while cafes, parks, and pharmacies are sparse in the immediate neighborhood.
At the neighborhood level, occupancy is very tight and currently ranks first among 222 metro neighborhoods and in the top percentile nationally. This reflects market conditions around the property rather than the property s own performance, but it supports an underwriting view that nearby renter demand has been durable through recent cycles based on CRE market data from WDSuite.
Vintage context: the average neighborhood construction year is 1976, while the property was built in 1982. Being somewhat newer than the local stock can aid competitive positioning versus older assets, though major systems are still at an age where capital planning for modernization and targeted value-add remains relevant.
Within a 3-mile radius, the share of housing units that are renter-occupied is about a quarter, indicating an ownership-leaning area. That typically means a smaller but steady tenant base; effective leasing depends on maintaining a value proposition and service quality. Median home values in the neighborhood are on the lower side for the region, which can increase competition from ownership, but a moderate rent-to-income profile suggests manageable affordability pressure that can support lease retention.
Comparable neighborhood-level crime data are not available from WDSuite for this location. Investors should benchmark safety using city and metro sources where available and review historical incident reports, lighting, access control, and property-level security practices to align with resident expectations.
Employment access skews toward rail, logistics, and regional corporate offices, supporting workforce housing demand and commute convenience for residents working across the Warren Youngstown Akron Cleveland corridor. The employers below reflect the nearest concentrations relevant to renter demand.
- Norfolk Southern rail operations (1.5 miles)
- Goodyear Tire & Rubber manufacturing HQ (34.1 miles) HQ
- Home Depot Distribution Center distribution (35.8 miles)
- FirstEnergy utilities HQ (35.9 miles) HQ
- Norfolk Southern Motor Yard rail operations (37.2 miles)
This 56-unit, 1982-vintage asset in Warren benefits from tight neighborhood occupancy and an ownership-leaning area that prioritizes value and stability over luxury amenities. According to CRE market data from WDSuite, the surrounding neighborhood ranks first out of 222 metro neighborhoods for occupancy, a directional signal that nearby renter demand has held firm even as amenities remain limited. The property s slightly newer vintage versus the neighborhood average offers a useful baseline for modernization to sharpen competitive positioning.
Investor considerations include a smaller renter pool within a 3-mile radius and relatively accessible home values that may compete with rentals. That said, a moderate rent-to-income profile supports retention dynamics, and proximity to rail, logistics, and regional corporate employers underpins steady workforce demand. The forward view emphasizes disciplined capex, targeted value-add, and a service-forward operating model to sustain occupancy and pricing power in a car-oriented micro-market.
- Tight neighborhood occupancy supports underwriting for demand resilience
- 1982 construction offers value-add potential while competing well against older stock
- Workforce demand supported by nearby rail/logistics and regional corporate employers
- Moderate rent-to-income profile favors resident retention and steady cash flow
- Risks: smaller renter base and accessible ownership options require disciplined pricing and service