| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Best |
| Demographics | 64th | Best |
| Amenities | 43rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1855 Mechanicsburg Rd, Wooster, OH, 44691, US |
| Region / Metro | Wooster |
| Year of Construction | 1995 |
| Units | 72 |
| Transaction Date | 2015-03-11 |
| Transaction Price | $2,830,000 |
| Buyer | TWIN OAKS OF WOOSTER LLC |
| Seller | WOOTOWN PROPERTIES LLC |
1855 Mechanicsburg Rd, Wooster, OH Multifamily Investment
Neighborhood fundamentals point to steady renter demand at attainable rents, according to WDSuite’s CRE market data, with occupancy trending near national mid-range and income levels that suggest room for disciplined rent growth.
The property sits in an A-rated neighborhood ranked 3 out of 50 in the Wooster metro, positioning it among the top-tier local options for multifamily exposure. Cafes and restaurants index well for a rural setting (cafe density competitive among Wooster neighborhoods and restaurants similarly strong), while parks and childcare are limited within the immediate area — a consideration for family-oriented renters.
Neighborhood occupancy is 92.5%. This trails the metro median (ranked 35 of 50) but sits around the national middle (57th percentile), indicating generally stable leasing with some room to improve via management and positioning. Median neighborhood rent is $822 with five-year growth of roughly a quarter, and the rent-to-income ratio of 0.11 (78th percentile nationally) indicates relatively low affordability pressure — supportive of retention and measured rent increases.
Tenure patterns differ by lens: within the neighborhood, renter-occupied units account for 19.7%, implying a thinner immediate renter base; within a 3-mile radius, renter-occupied share is 34.1%, pointing to a broader trade-area tenant pool. For investors, this suggests marketing may need to reach slightly beyond the immediate blocks to capture depth, but demand should remain serviceable for a 72-unit asset.
Demographics within a 3-mile radius show near-flat population over the last five years with a modest uptick in households, and forecasts indicate an increase in households by 2028, which can expand the tenant base and support occupancy stability. Average school ratings align slightly above national median levels, which can help appeal to households seeking “value” locations. Home values near the national midpoint and a value-to-income ratio around the middle suggest ownership is relatively accessible; for multifamily, that can temper pricing power but also supports lease retention when rents remain positioned below ownership costs.
Comparable crime metrics for this neighborhood are not available in WDSuite’s dataset, so investors should review city and county trend reports alongside property-level history. In the absence of direct crime statistics, contextual indicators such as stable neighborhood occupancy near the national middle and steady household formation within a 3-mile radius can help frame risk, but they are not substitutes for a dedicated safety review.
The area draws from a diversified set of corporate offices that help support renter demand through steady employment and manageable commute times, including International Paper, J.M. Smucker, Erie Insurance Group, FirstEnergy, and Goodyear.
- International Paper Company — corporate offices (2.3 miles)
- J.M. Smucker — corporate offices (10.7 miles) — HQ
- Erie Insurance Group — corporate offices (27.6 miles)
- FirstEnergy — corporate offices (29.4 miles) — HQ
- Goodyear Tire & Rubber — corporate offices (30.3 miles) — HQ
This 72-unit asset in Wooster offers a straightforward workforce housing thesis: a top-tier neighborhood rank locally (3 of 50) with dining access that outperforms most nearby areas, occupancy near the national midpoint, and rents that remain attainable relative to local incomes. Based on CRE market data from WDSuite, the rent-to-income profile suggests retention and measured pricing power, while trade-area demographics within 3 miles indicate a growing household base that can support leasing over the next several years.
Key considerations include a lower renter concentration immediately around the property (versus a deeper 3-mile renter pool) and limited park/childcare amenities, which may require targeted marketing and amenity strategy. With competitive positioning and prudent capital planning, the asset can target stable occupancy and incremental rent growth supported by the area’s employment base.
- Top-tier local placement (ranked 3 of 50 in Wooster) with practical amenity access for daily needs
- Occupancy near national mid-range with attainable rents supporting retention and steady leasing
- 3-mile trade area shows increasing households, expanding the tenant base and supporting demand
- Employment node access to International Paper, J.M. Smucker (HQ), FirstEnergy (HQ), and Goodyear (HQ)
- Risks: below-metro-median neighborhood occupancy, lower immediate renter concentration, and limited parks/childcare