| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Fair |
| Demographics | 51st | Good |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 930 N Ella St, Orrville, OH, 44667, US |
| Region / Metro | Orrville |
| Year of Construction | 1974 |
| Units | 52 |
| Transaction Date | 2007-11-21 |
| Transaction Price | $1,130,000 |
| Buyer | TESCO PROPERTIES LLC |
| Seller | STONE PHILLIP L |
930 N Ella St, Orrville, OH Multifamily Investment
Neighborhood occupancy is holding above national medians and supports stable leasing fundamentals, according to WDSuite s CRE market data, making this 52-unit asset a straightforward income play in a suburban workforce hub.
The property sits in an A-rated Suburban neighborhood that is competitive among Wooster, OH neighborhoods (ranked 6 out of 50), signaling resilient fundamentals for multifamily investors. Neighborhood occupancy trends are solid relative to national medians, helping underpin cash flow durability rather than outsized lease-up risk.
Daily-life amenities are reasonably accessible for a suburban node: pharmacies rank 3 of 50 in the metro and sit around the 78th percentile nationally, while restaurants and parks are also comparatively dense for the area (both within the top five ranks locally and near the upper third nationwide). Caf e9 presence is competitive as well (ranked 5 of 50, mid-70s percentile nationally). Public school quality averages in the upper tier locally (ranked 8 of 50 and about the 70th percentile nationally), which can aid long-term household retention.
Renter concentration in the neighborhood is roughly 30% of housing units, indicating a meaningful base of renter-occupied stock that supports steady demand for multifamily product. Within a 3-mile radius, household incomes have strengthened over the past five years and median contract rents remain comparatively modest, keeping the rent-to-income profile near investor-friendly levels that can support retention and measured rent growth.
Demographics within a 3-mile radius show recent population softness but a modest upturn in the next five years alongside growth in household counts, implying slightly smaller household sizes and a gradual expansion of the renter pool. For investors, that points to demand that is steady rather than speculative. The property s 1974 vintage is newer than the neighborhood s average construction year (1955), offering competitive positioning versus older stock, while still warranting capital planning for aging systems or value-add updates to capture rent premiums.
Safety indicators are mixed when viewed locally versus nationally. The neighborhood s crime rank is 6 out of 50 in the Wooster metro, placing it on the higher-crime side locally. However, national percentiles point to comparatively favorable conditions versus many U.S. neighborhoods, with violent and property offense rates around the upper deciles nationally (safer relative to the country overall). Recent year-over-year upticks suggest investors should monitor trends and emphasize standard security and lighting enhancements as part of asset management.
Proximity to established employers supports a durable renter base and commute convenience, led by food manufacturing, energy/utilities, and insurance. The nearby anchors below are consistent with the workforce profile that sustains leasing stability for suburban multifamily.
- J.M. Smucker food manufacturing (0.4 miles) HQ
- International Paper Company paper & packaging (8.6 miles)
- Erie Insurance Group insurance (17.4 miles)
- FirstEnergy energy & utilities (20.8 miles) HQ
- Goodyear Tire & Rubber manufacturing (21.1 miles) HQ
This 52-unit asset offers a straightforward income profile underpinned by neighborhood occupancy that remains healthy and above national medians; according to CRE market data from WDSuite, neighborhood occupancy is around 94%, supporting stability rather than lease-up risk. The 1974 vintage is newer than the neighborhood s 1955 average, positioning the property competitively against older stock while leaving room for targeted modernization to unlock incremental rent.
Within a 3-mile radius, household growth is projected to resume over the next five years even as population remains relatively stable, implying smaller household sizes and a gradual renter pool expansion. Rent levels remain comparatively modest relative to incomes, reinforcing retention and measured pricing power. Key regional employers across food manufacturing, utilities, insurance, and manufacturing add depth to the tenant base and mitigate reliance on any single sector. Risks include locally higher crime ranks versus the metro peer set and the need to manage capital expenditures consistent with a 1970s build.
- Healthy neighborhood occupancy supports income stability
- 1974 vintage offers competitive positioning with value-add potential
- 3-mile household growth and modest rents bolster renter demand and retention
- Diverse nearby employers underpin leasing durability
- Risks: locally higher crime rank and ongoing capex needs for aging systems