| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Good |
| Demographics | 53rd | Good |
| Amenities | 21st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 330 Villa St, Rittman, OH, 44270, US |
| Region / Metro | Rittman |
| Year of Construction | 1998 |
| Units | 47 |
| Transaction Date | 1998-02-13 |
| Transaction Price | $80,000 |
| Buyer | RITTMAN ACRES LTD PTNS |
| Seller | MARCIANO PHILLIP W |
330 Villa St Rittman, OH Multifamily Investment
Neighborhood occupancy has been strong, with stability that supports income durability, according to WDSuite’s CRE market data. This positioning in suburban Rittman offers dependable renter demand relative to the metro while maintaining manageable operational complexity.
Rittman sits within the Wooster, OH metro and the neighborhood around 330 Villa St carries a B+ rating, signaling balanced fundamentals for workforce-oriented housing. Neighborhood occupancy is reported at 97.3% and ranks 19 out of 50 metro neighborhoods, indicating performance competitive among Wooster neighborhoods and in the top quintile nationally for occupancy. For investors, this backdrop supports leasing stability and reduces exposure to prolonged vacancy.
The property’s 1998 construction is newer than the neighborhood average year built (1974). That vintage typically competes well against older stock and can defer some near-term capital needs, though investors should plan for selective modernization as systems approach mid-life cycles.
Local livability is suburban: grocery access and childcare density are moderate for the metro, while cafes, restaurants, parks, and pharmacies are relatively sparse. Average school ratings test above many national peers (around the 70th percentile), which can aid retention for family renters.
Tenure data show a modest renter concentration (about one-fifth of housing units are renter-occupied), implying a defined but stable tenant base for multifamily. Within a 3-mile radius, recent population and household counts edged down, yet WDSuite data project a near-term uptick in households and incomes. That combination points to a slightly larger renter pool with stronger spending power, supporting occupancy stability and measured rent growth management rather than aggressive lease-up assumptions. Elevated ownership accessibility relative to high-cost markets means some competition from for-sale housing, but a low rent-to-income ratio (around 10%) suggests multifamily affordability that can support lease retention.
Neighborhood-level crime metrics are not available in WDSuite for this location. Broadly, suburban areas in the Wooster metro tend to experience less severe crime exposure than denser urban cores, but outcomes can vary block to block. Investors should corroborate conditions through standard diligence steps (local reports, police blotters, and property-level incident histories) to align underwriting assumptions with on-the-ground realities.
Proximity to established employers supports a commuter renter base and helps underpin leasing durability. Key drivers within a short to moderate commute include food manufacturing, paper and packaging, utilities, tires, and insurance—industries reflected below.
- J.M. Smucker — food & consumer packaged goods (9.2 miles) — HQ
- International Paper Company — paper & packaging (14.1 miles)
- FirstEnergy — electric utility (15.5 miles) — HQ
- Goodyear Tire & Rubber — tires & rubber manufacturing (16.9 miles) — HQ
- Erie Insurance Group — insurance services (20.4 miles)
330 Villa St benefits from a suburban location where the neighborhood’s occupancy has been consistently high, supporting income durability and lower downtime risk. The asset’s 1998 vintage is newer than much of the surrounding housing stock, providing competitive positioning versus older properties while leaving room for targeted value-add to enhance rents and retention. Based on CRE market data from WDSuite, renter households are a modest share of the area but affordability is favorable, which can sustain leasing even if rent growth remains measured.
Within a 3-mile radius, recent population softened, but households and incomes are projected to improve, signaling a potentially stronger renter pool over the forecast period. Amenity density is lighter than urban cores, which may cap premium positioning, yet commuting access to major employers helps stabilize demand and supports steady occupancy management.
- High neighborhood occupancy supports leasing stability and reduces downtime risk.
- 1998 construction offers relative competitiveness vs. older stock with selective modernization upside.
- Favorable rent-to-income dynamics support retention and steady cash flow management.
- Diversified regional employers provide commuter demand that underpins tenant depth.
- Risks: lighter amenity density and a modest renter share may temper rent premiums; underwrite renewal-driven performance.