| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 24th | Poor |
| Demographics | 36th | Fair |
| Amenities | 70th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3161 Maple Ave, Conneaut, OH, 44030, US |
| Region / Metro | Conneaut |
| Year of Construction | 1979 |
| Units | 42 |
| Transaction Date | 2009-06-19 |
| Transaction Price | $517,500 |
| Buyer | PLEASANT VIEW ESTATES LLC |
| Seller | JONMAR INC |
3161 Maple Ave, Conneaut OH Multifamily Investment
Neighborhood data points to steady renter demand supported by strong daily-needs access and a moderate renter concentration, according to CRE market data from WDSuite. Investors should view this asset as a durable workforce housing play with room to compete against older local stock.
Livability indicators around 3161 Maple Ave skew positive for daily convenience. The neighborhood shows strong access to necessities with grocery and pharmacy density ranking in the upper brackets nationally, alongside solid restaurant and cafe coverage. Parks access is also comparatively strong. Childcare options are sparse, and average school ratings in the area trend below national norms, which may influence family-oriented leasing strategies.
Renter demand signals are supported by a renter-occupied share of housing units near the property (41.5% for the neighborhood), indicating a meaningful tenant base without over-reliance on rentals. Neighborhood occupancy has trended up in recent years, supporting lease stability relative to local history. Median contract rents in the area remain on the lower end versus national benchmarks, which can aid retention but may temper immediate pricing power.
Demographic statistics aggregated within a 3-mile radius show recent softness in population and households, but forward-looking projections indicate population growth and a sizable increase in households by 2028. This outlook suggests a larger tenant base ahead and supports occupancy, particularly for well-managed, value-oriented units.
Vintage context matters: the average neighborhood construction year trends older, while this property’s 1979 build is newer than much of the surrounding stock. That positioning can enhance leasing competitiveness versus older comparables, though investors should still plan for system updates and selective renovations typical of late-1970s assets.
Safety indicators for the neighborhood track close to the national midpoint overall, based on WDSuite’s CRE market data. Within the metro, property-related incidents trend higher than many nearby neighborhoods, while recent one-year trends show declines in both property and violent offenses, with violent incidents falling more sharply. For investors, the picture is mixed: conditions compare roughly to national averages but warrant standard operational diligence and lighting/security upgrades common to workforce housing.
Regional employers provide a diversified employment base within commuting range, supporting renter demand through stable, wage-paying sectors. Notable nearby corporate offices include Parker-Hannifin and Erie Insurance Group.
- Parker-Hannifin — industrial manufacturing (26.8 miles)
- Erie Insurance Group — insurance (28.8 miles) — HQ
This 42-unit, 1979-vintage asset offers defensible positioning in a neighborhood with strong daily-needs access and a moderate renter concentration. Rents in the area sit at the lower end nationally, which can support retention and stable occupancy, while the property’s newer-than-average vintage versus local stock provides a competitive edge with targeted renovations. According to CRE market data from WDSuite, neighborhood occupancy has improved in recent years and forward 3-mile projections point to household growth, reinforcing the potential for a deeper renter pool.
Key considerations include below-average school ratings, locally elevated property-crime levels versus many metro peers, and a high-ownership, low home-value landscape that can introduce some competition with entry-level ownership. Even so, improving safety trends, strong access to necessities, and expected increases in households suggest durable baseline demand for well-managed, value-oriented units.
- Strong daily-needs access (grocery, pharmacy, parks) supports resident convenience and retention
- 1979 vintage is newer than much of the area, offering leasing competitiveness with targeted upgrades
- Moderate renter concentration and improving neighborhood occupancy signal demand resilience
- 3-mile outlook points to population and household growth, expanding the future renter pool
- Risks: below-average school ratings, relatively higher local property-crime levels, and competition from accessible ownership options