| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Fair |
| Demographics | 48th | Good |
| Amenities | 27th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 616 S Main St, Shreve, OH, 44676, US |
| Region / Metro | Shreve |
| Year of Construction | 1975 |
| Units | 48 |
| Transaction Date | 2019-09-30 |
| Transaction Price | $1,042,000 |
| Buyer | SHREVE LTD HOLDINGS LLC |
| Seller | SHREVE LTD |
616 S Main St Shreve Multifamily Investment
Neighborhood occupancy near 95% suggests steady leasing fundamentals for this 48-unit asset, based on commercial real estate analysis from WDSuite.
Shreve is a rural submarket within the Wooster, OH metro, and this address benefits from a neighborhood occupancy rate around 95% (above the national average), according to WDSuite s CRE market data. The neighborhood ranks 25 out of 50 metro neighborhoods on occupancy, indicating performance around the metro median, which supports baseline stability for multifamily operations.
Within a 3-mile radius, recent population growth has been positive while household counts have also increased, expanding the local tenant base. Forward-looking projections point to more households and smaller average household sizes, which can sustain demand for rental units even if population growth moderates. Renter affordability is favorable for retention and lease management, with the neighborhood s rent-to-income metric positioned in a high national percentile.
Schools test as a strength: average ratings rank 4 out of 50 in the metro and fall in the top quartile nationally (84th percentile), a supportive factor for long-term resident stability. Amenity density is limited in this rural setting (few restaurants and cafes), but park and pharmacy access score competitively among Wooster neighborhoods, with ranks of 8 and 7 out of 50 respectively and both above the national median.
Ownership costs are moderate versus national norms, which can introduce some competition from entry-level homebuying. However, the area s renter-occupied share is around one-fifth of housing units, signaling a smaller but defined renter pool. For investors, this points to steady workforce demand with pricing discipline rather than rapid lease-up dynamics.
Neighborhood-level crime statistics are not available in WDSuite for this location. Investors typically contextualize safety by comparing county or metro trends and by assessing property-level measures, policies, and historical incident reporting from local authorities. Use consistent underwriting assumptions and third-party diligence to align expectations with regional norms.
The workforce base draws from nearby manufacturing and corporate employers, supporting commute convenience and renter demand at this address. The following employers represent realistic leasing drivers for the area.
- International Paper Company manufacturing (10.5 miles)
- J.M. Smucker food & consumer products (18.3 miles) HQ
- Erie Insurance Group insurance (33.0 miles)
- FirstEnergy utilities (38.7 miles) HQ
- Goodyear Tire & Rubber manufacturing (39.0 miles) HQ
Built in 1975, the property is newer than the neighborhood s average vintage, which can help competitiveness versus older local stock while still warranting targeted capital planning for building systems and unit modernization. According to CRE market data from WDSuite, neighborhood occupancy is solid around the national upper tiers and near the metro median, indicating stable day-to-day operations rather than outsized volatility. Favorable renter affordability supports retention and leasing durability, and strong school quality reinforces family-oriented tenancy.
The setting is rural with lean retail and dining density, so amenity-driven premiums may be limited; however, proximity to regional employers provides a consistent workforce renter base. Household counts within 3 miles have risen and are projected to keep expanding even as average household sizes trend smaller, which can sustain the renter pool and support occupancy management over time. Key underwriting considerations include a lower renter concentration in the area and potential competition from relatively accessible homeownership.
- Occupancy near metro median with above-national positioning supports stable collections
- 1975 vintage offers value-add potential via targeted system upgrades and unit refreshes
- Favorable rent-to-income profile enhances retention and reduces affordability pressure
- Strong school ratings (top quartile nationally) align with family renter demand
- Risks: rural amenity depth, lower renter concentration, and ownership competition may cap rent growth