| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Fair |
| Demographics | 51st | Good |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1825 W Market St, Orrville, OH, 44667, US |
| Region / Metro | Orrville |
| Year of Construction | 1975 |
| Units | 48 |
| Transaction Date | 2011-08-12 |
| Transaction Price | $367,500 |
| Buyer | HILLTOP RESIDENTIAL PARTNERS LLC |
| Seller | MARRON PROPERTIES LP |
1825 W Market St Orrville 48-Unit Multifamily
Neighborhood occupancy is solid at 94.3% (neighborhood-level, not property-specific) with rents positioned below many metro alternatives, according to WDSuite’s CRE market data, signaling durable tenant retention with disciplined pricing power.
The property sits in an A-rated suburban neighborhood ranked 6th of 50 in the Wooster, OH metro top quartile nationally by several indicators offering balanced fundamentals for multifamily investors. Amenity access is competitive among metro peers, with restaurants, pharmacies, parks, and cafes all ranking near the top of local availability, supporting day-to-day convenience that helps leasing and renewals.
At the neighborhood level, renter-occupied housing is 29.7% (10th of 50; above metro median nationally), indicating a modest but dependable renter base. Neighborhood occupancy runs 94.3% (26th of 50; above the national median), which supports stability even as operators should expect standard seasonality. Median contract rents in the immediate area remain comparatively low, and the rent-to-income ratio near 0.12 (70th percentile nationally) points to manageable affordability pressure that can aid retention and reduce turnover costs.
Demographic statistics are aggregated within a 3-mile radius. Over the past five years, population edged down slightly while household sizes increased, and WDSuite data indicates households are projected to grow over the next five years alongside an increasing renter share. This combination suggests a larger tenant base over time and supports occupancy stability as more renters enter the market.
Ownership costs in the neighborhood are lower relative to many U.S. areas (home values sit in lower national percentiles), which can introduce competition with entry-level ownership. However, the neighborhood s steady amenity access, above-median occupancy, and convenient services help sustain rental demand, particularly for residents prioritizing flexibility or proximity to nearby employment.
The average neighborhood construction year skews older (1955), while this asset s 1975 vintage is newer than much of the local stock. That positioning can be competitively helpful versus older comparables, though investors should still plan for targeted modernization or systems updates to drive rent premiums and reduce long-term capex variability.
Safety indicators are mixed but generally competitive versus regional peers. The neighborhood s crime rank is 6th of 50 in the metro, placing it among the stronger-performing areas locally and around the national median overall. Nationally benchmarked estimates suggest property and violent offense levels align with safer profiles in many U.S. neighborhoods, though one-year changes show volatility that investors should underwrite with prudent reserves.
In practice, the takeaway is comparative: the area performs well relative to many Wooster neighborhoods and sits in higher national percentiles for safety, yet recent year-over-year swings warrant monitoring. Operators may wish to align lighting, access control, and community engagement with best practices to sustain resident confidence and support leasing.
Proximity to established employers supports a stable renter base and commute convenience, anchored by food manufacturing, packaging, insurance, utilities, and tire & rubber corporate offices.
- J.M. Smucker food manufacturing HQ (1.5 miles) HQ
- International Paper Company packaging (7.4 miles)
- Erie Insurance Group insurance (18.5 miles)
- FirstEnergy utilities (21.9 miles) HQ
- Goodyear Tire & Rubber tire & rubber (22.2 miles) HQ
This 48-unit, 1975-vintage asset benefits from a top-quartile neighborhood within the 50-neighborhood Wooster, OH metro, competitive amenity access, and neighborhood occupancy around 94.3% that has held above national medians. The vintage is newer than the local average stock, which can support leasing versus older comparables, while targeted modernization presents value-add potential without overextending capital plans. According to CRE market data from WDSuite, rent levels and a rent-to-income ratio near 0.12 indicate manageable affordability pressure, aiding tenant retention and reducing turnover risk.
Within a 3-mile radius, households are projected to increase and the renter share is expected to rise, signaling renter pool expansion that supports occupancy stability. While ownership remains relatively accessible and could compete with rentals, proximity to anchor employers and consistent neighborhood services underpin demand for flexible housing options. Investors should note normal small-metro liquidity considerations and stay attentive to recent volatility in safety metrics, underwriting with sensible reserves and proactive property management.
- A-rated, top-quartile neighborhood (6th of 50) with competitive amenity access
- Neighborhood occupancy ~94.3% and rent-to-income near 0.12 support retention
- 1975 vintage is newer than local average; scope for targeted value-add and systems updates
- 3-mile trends point to growing renter share and larger tenant base supporting leasing
- Risks: small-metro depth, accessible ownership competition, and recent safety metric volatility