| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Poor |
| Demographics | 47th | Good |
| Amenities | 30th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1158 Madison Ave, Wooster, OH, 44691, US |
| Region / Metro | Wooster |
| Year of Construction | 1990 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1158 Madison Ave Wooster 20-Unit Multifamily Investment
Newer-than-neighborhood vintage and a solid local renter base point to durable demand, according to WDSuite’s CRE market data. Neighborhood occupancy trends warrant hands-on leasing and retention management.
Set within a Rural neighborhood of Wooster, the property benefits from everyday conveniences nearby. Grocery access is comparatively strong within the metro (ranked 9 out of 50 neighborhoods), while park access is a relative bright spot (ranked 3 of 50 and above the 50th national percentile). Cafés and pharmacies are sparse locally, so residents rely on broader Wooster for these services.
School quality in the neighborhood is competitive among Wooster neighborhoods (ranked 11 of 50) and performs above the national median. This supports family-oriented renter appeal and helps with lease stability for two- and three-bedroom product.
Neighborhood rents sit below national norms with steady five‑year growth, which can aid lease-up and retention while moderating near-term pricing power. Overall occupancy in the neighborhood is below the metro median (ranked 47 of 50) and has softened over the past five years, indicating the importance of active management and targeted marketing to sustain performance.
The broader housing stock here skews older than average; by contrast, this property’s 1990 vintage is newer than much of the surrounding inventory, providing a competitive edge vs. pre-1960 product while still leaving room for selective modernization. A higher renter concentration at the neighborhood level relative to many areas nationwide supports a deeper tenant base for multifamily, aligning with practical takeaways from commercial real estate analysis.
Demographic statistics are aggregated within a 3‑mile radius. Recent trends show a slight pullback in population and households, but WDSuite’s forward view points to stabilization and growth in households by 2028, which would expand the local tenant base and support occupancy over time.
Comparable neighborhood crime data is not available in this WDSuite release. Investors typically benchmark conditions against city and county trends and evaluate property‑level measures (lighting, access control, and visibility) to support resident retention. Use consistent, like‑for‑like comparisons over time rather than block‑level assumptions.
Nearby employers span manufacturing, food products, energy, and insurance—supporting a diversified workforce and practical commute options for renters. The list below reflects key demand drivers within a reasonable radius.
- International Paper Company — manufacturing (1.5 miles)
- J.M. Smucker — food products (9.9 miles) — HQ
- Erie Insurance Group — insurance (26.3 miles)
- FirstEnergy — energy & utilities (29.8 miles) — HQ
- Goodyear Tire & Rubber — manufacturing (30.3 miles) — HQ
Built in 1990, this 20‑unit asset is newer than much of the surrounding housing stock, positioning it competitively against older properties while offering selective value‑add opportunities through unit and system updates. Neighborhood rents remain accessible relative to national levels, supporting lease retention; at the same time, neighborhood occupancy trends sit below the metro median, making strong leasing execution and tenant experience programs important. According to CRE market data from WDSuite, the neighborhood shows a relatively high share of renter‑occupied housing units, which supports a deeper tenant base for multifamily.
Within a 3‑mile radius, recent softness in population and household counts is balanced by a forward view that points to stabilization and household growth by 2028—favorable for long‑term tenant demand. Elevated homeownership costs are not pronounced in this market, which can limit pricing power but also sustain renter reliance on multifamily housing given rent-to-income dynamics that favor retention.
- 1990 vintage offers competitive positioning versus older neighborhood stock with selective renovation upside
- Accessible rents support lease-up and retention across economic cycles
- Higher renter concentration and diversified nearby employers reinforce tenant demand
- Forward view indicates household growth within 3 miles, supporting occupancy over time
- Risk: neighborhood occupancy below metro median requires active leasing and asset management