| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Best |
| Demographics | 48th | Good |
| Amenities | 16th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 930 Hostetler Rd, Orrville, OH, 44667, US |
| Region / Metro | Orrville |
| Year of Construction | 1972 |
| Units | 24 |
| Transaction Date | 2015-03-18 |
| Transaction Price | $1,275,000 |
| Buyer | BEERY AARON W |
| Seller | COOK FAMILY PROPERTIES LLC |
930 Hostetler Rd Orrville Multifamily Investment
Neighborhood fundamentals indicate durable renter demand supported by nearby employers and above-median incomes, according to WDSuite’s CRE market data. Occupancy is discussed at the neighborhood level rather than the property, helping investors calibrate assumptions around leasing stability.
Positioned in Orrville within the Wooster, OH metro, the neighborhood ranks 11th of 50, placing it in the top quartile among metro neighborhoods. Local context favors steady workforce housing demand, with grocery and dining options present even as overall amenity density is modest compared with larger suburban hubs.
The asset’s 1972 vintage is older than the neighborhood’s average construction year (1997). For investors, this typically points to capital planning needs but also potential value-add upside through targeted renovations and modernization, improving competitive positioning against newer stock.
At the neighborhood level (not the property), occupancy trends sit around the upper‑80s with a slight softening over five years, per WDSuite. That suggests conditions consistent with many inner‑suburban markets: generally stable leasing with management attention needed on renewal retention and unit turns.
Within a 3‑mile radius, demographics show a recent dip in population but rising household incomes and a projected increase in households over the next five years. The share of renter‑occupied housing units is moderate today, with WDSuite’s data indicating an expanding renter pool ahead—supportive of depth in tenant demand. Rent-to-income ratios remain manageable for many households, which can aid retention and measured pricing power, while moderate home values in the area suggest some competition from ownership that operators should monitor.
Comparable neighborhood-level safety data is not available in WDSuite for this location. Investors may wish to benchmark local conditions against metro and county trends when data is accessible, and incorporate standard underwriting cushions for security, lighting, and resident experience.
Proximity to established employers supports a commuter-friendly renter base and can enhance leasing durability. Key nearby employers include food manufacturing, energy/utilities, insurance, and diversified manufacturing.
- J.M. Smucker — food manufacturing (0.7 miles) — HQ
- International Paper Company — packaging & paper (8.4 miles)
- Erie Insurance Group — insurance (17.7 miles)
- FirstEnergy — energy & utilities (20.8 miles) — HQ
- Goodyear Tire & Rubber — manufacturing (21.1 miles) — HQ
930 Hostetler Rd offers investors a 1972-vintage, smaller-scale multifamily asset in an inner‑suburban neighborhood that ranks in the top quartile within the Wooster metro. According to commercial real estate analysis from WDSuite, neighborhood occupancy has been generally stable with slight softening, suggesting manageable leasing conditions where asset-level operations and targeted upgrades can drive outperformance.
Investor appeal is underpinned by an employment base anchored by J.M. Smucker and other regional employers, a moderate renter concentration with indications of renter pool expansion within a 3‑mile radius, and rent-to-income dynamics that support renewal retention strategies. Given the older vintage, a thoughtful capex program focused on interior finishes and building systems may unlock value-add potential relative to newer comparables.
- Top-quartile neighborhood within the Wooster metro supports screening confidence
- Proximity to anchor employers helps sustain a reliable tenant base
- Moderate renter-occupied share with signs of renter pool expansion within 3 miles
- Value-add pathway from 1972 vintage via targeted renovations and systems upgrades
- Risks: modest amenity density and recent occupancy softening call for disciplined leasing and retention