| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 32nd | Fair |
| Demographics | 37th | Fair |
| Amenities | 37th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3500 Boston Ave SE, Warren, OH, 44484, US |
| Region / Metro | Warren |
| Year of Construction | 1983 |
| Units | 70 |
| Transaction Date | --- |
| Transaction Price | $900,000 |
| Buyer | PRESIDENTIAL SUITES ASSOCIATES LTD |
| Seller | APPLE RUN APARTMENTS OF TRUMBULL COUNTY |
3500 Boston Ave SE, Warren OH Multifamily Investment
Neighborhood occupancy sits around the metro median with a higher renter concentration, indicating a dependable tenant base and manageable lease-up risk, according to WDSuite’s CRE market data.
This Inner Suburb location in the Youngstown–Warren–Boardman metro carries a B+ neighborhood rating and shows balanced fundamentals for workforce housing. Neighborhood occupancy is near the metro midpoint (ranked 118 of 222), while renter-occupied share is higher than typical for the region (ranked 38 of 222; top quartile nationally), signaling depth for multifamily demand and potential stability across cycles.
Daily needs are well covered by essentials: grocery access ranks 17th of 222 metro neighborhoods and pharmacies rank 26th, both aligning with upper-tier national percentiles. Restaurants are reasonably represented (57 of 222), though parks and cafes are limited (each ranked 222 of 222). For investors, this mix supports everyday convenience but suggests amenities within the asset may contribute meaningfully to resident satisfaction and retention.
Schools in the immediate area score below national averages (national percentile near the mid-teens), which can influence household preferences; however, the renter pool here skews toward attainable housing, supported by rent-to-income levels in stronger national percentiles that may aid renewal efforts and pricing resilience. Home values are comparatively low for the region, which can create some competition with ownership, yet it also supports consistent demand for more accessible rental options and helps sustain occupancy.
Within a 3-mile radius, recent years show modest softness in population and household counts, but forward-looking projections point to a return to growth in total population and a notable increase in households alongside smaller average household sizes. For multifamily, that combination typically expands the tenant base and can favor smaller-format units, supporting absorption and lease management strategies over the medium term.
Safety trends are mixed but improving. The neighborhood’s current standing is around the middle of the metro pack (crime rank 85 of 222), below the national median on comparative percentiles. More recently, both property and violent offense rates have declined meaningfully year over year (each improving at ranks within the better third of 222 metro neighborhoods), indicating momentum that investors should monitor as part of underwriting assumptions.
Nearby employment hubs span rail transportation, distribution, and regional corporate offices, supporting commute convenience and renter demand consistent with workforce housing. The list below highlights the closest anchors relevant to leasing stability.
- Norfolk Southern — rail transportation offices (6.1 miles)
- Home Depot Distribution Center — distribution & logistics (37.9 miles)
- Goodyear Tire & Rubber — corporate offices (38.2 miles) — HQ
- Norfolk Southern Motor Yard — rail operations (39.8 miles)
- FirstEnergy — utilities & corporate services (39.9 miles) — HQ
3500 Boston Ave SE is a 70-unit multifamily asset built in 1983, newer than the neighborhood’s average vintage. That relative youth can offer a competitive edge versus older stock, while still leaving room for targeted modernization to enhance positioning. Neighborhood occupancy sits near the metro median with a higher renter-occupied share, suggesting a reliable tenant base and manageable renewal risk; based on CRE market data from WDSuite, essentials-oriented amenity access (notably groceries and pharmacies) further supports day-to-day livability.
Affordability metrics indicate room for rent performance without overextending residents, which can help retention. Within a 3-mile radius, projections indicate population growth and a meaningful increase in households alongside smaller household sizes, an outlook that typically expands the renter pool and supports occupancy stability, particularly for smaller-unit mixes. Key underwriting considerations include below-average school scores, limited parks/cafes, and the need to track crime trends, which have recently improved.
- 1983 construction offers relative competitiveness vs. older neighborhood stock with selective value-add potential
- Renter concentration above metro norms supports depth of tenant demand and renewal stability
- Essentials-forward amenity access (groceries, pharmacies) and workforce employment nodes bolster leasing
- 3-mile projections show population and household growth with smaller household sizes, aiding absorption
- Risks: below-average school ratings, limited parks/cafes, and mid-pack safety levels despite recent improvements