| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 29th | Poor |
| Demographics | 49th | Good |
| Amenities | 10th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 227 Coulter St, Creston, OH, 44217, US |
| Region / Metro | Creston |
| Year of Construction | 1979 |
| Units | 49 |
| Transaction Date | 2008-02-26 |
| Transaction Price | $1,700,000 |
| Buyer | CRESTON STATION I LIMITED PARTNERSHIP |
| Seller | CRESTON STATION LIMITED |
227 Coulter St, Creston OH Multifamily Opportunity
Stabilized renter demand and modest local rents suggest steady cash flow potential for a 49-unit asset, according to WDSuite’s CRE market data. Neighborhood-level occupancy trends are steady rather than surging, pointing to operational focus on retention and disciplined leasing.
Livability is defined by small-town dynamics and access to everyday necessities. Within the Wooster metro, overall amenities score slightly above the metro median (rank 23 of 50), yet nationally the area is light on cafes, restaurants, parks, and pharmacies. Grocery access is a relative bright spot, performing above most metro peers (rank 5 of 50) and modestly above national averages, which helps support day-to-day convenience for residents.
Neighborhood occupancy is in the low-90s, which is around the U.S. middle of the pack and below the metro median. For multifamily owners, this typically favors steady leasing but requires active renewal management rather than expecting automatic lease-ups. The neighborhood’s rent-to-income profile is relatively manageable for renters (national percentile 64), which can support resident retention, while limiting outsized near-term pricing power.
The area’s public schools rate strongly versus national peers (top quartile nationally and rank 2 of 50 within the metro), an attribute that can aid longer-term tenant stability for larger units. Renter concentration at the neighborhood level is low (about one in ten housing units are renter-occupied), indicating a thinner but consistent tenant pool; marketing should target the workforce segment that values practical access and value.
Construction in the neighborhood skews older (average vintage 1946), and the subject property’s 1979 build is newer than much of the local stock. That positioning can be competitive against older comparables, though investors should plan for typical late-1970s systems and common-area updates to protect occupancy and support rent trade-outs.
Demographics aggregated within a 3-mile radius show recent population softness but a projected rebound, with more households and smaller average household sizes by the five-year outlook. That shift generally expands the renter pool and supports occupancy stability for well-managed assets, especially those offering functional finishes and efficient floor plans.
Comparable crime benchmarks are not available for this neighborhood in WDSuite at this time. Investors typically contextualize safety by comparing neighborhood trends to the broader Wooster metro and national patterns, reviewing multi-year direction rather than one-year snapshots, and aligning on-site operations (lighting, access control, resident screening) with local norms.
The employment base within commuting range blends food manufacturing, utilities, industrials, and insurance services—drivers that support workforce housing demand and resident retention reflected in renewal activity.
- J.M. Smucker — food products (11.8 miles) — HQ
- International Paper Company — packaging & paper (12.1 miles)
- FirstEnergy — electric utility (21.5 miles) — HQ
- Goodyear Tire & Rubber — tire manufacturing (23.1 miles) — HQ
- Erie Insurance Group — insurance (26.3 miles)
This 49-unit, 1979-vintage asset benefits from a practical, needs-based renter base, strong school ratings, and grocery access that outperforms many metro peers. Neighborhood occupancy sits in the low-90s; according to CRE market data from WDSuite, conditions favor consistent leasing with a focus on renewals and modest trade-outs rather than outsized rent pushes. With local renter-occupied share on the lower side, marketing and unit finishes that appeal to workforce households can deepen capture in a thinner pool.
Relative to older neighborhood stock, the vintage provides a competitive edge, while still presenting value-add potential through system updates and common-area refreshes. Ownership costs in the area are comparatively accessible, which can create some competition with entry-level ownership; balancing affordability and livability will be key to retention and occupancy stability as the 3-mile radius projects more households and smaller household sizes over the next five years.
- Steady neighborhood occupancy supports consistent leasing with a renewals-first strategy.
- 1979 vintage is newer than much of the area stock, with value-add potential via targeted updates.
- Strong school ratings and solid grocery access aid tenant retention for larger and workforce units.
- Demand upside from projected 3-mile household growth and smaller household sizes expanding the renter pool.
- Risks: limited amenities and a thinner renter base in a rural submarket; ownership alternatives may temper aggressive rent growth.