| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Best |
| Demographics | 40th | Good |
| Amenities | 18th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 125 S Ridge Rd W, Geneva, OH, 44041, US |
| Region / Metro | Geneva |
| Year of Construction | 1982 |
| Units | 72 |
| Transaction Date | 1996-06-28 |
| Transaction Price | $125,000 |
| Buyer | REALTY EXCHANGE CATALYST INC |
| Seller | LAWSON CO |
125 S Ridge Rd W Geneva Multifamily Investment
Neighborhood occupancy is in the low-90s and above the metro median, supporting stable leasing dynamics for a 72-unit asset, according to WDSuite’s CRE market data. Positioned in a rural pocket of Ashtabula County, the area’s moderate renter base and accessible rents point to steady demand rather than outsized volatility.
Geneva’s rural setting offers everyday essentials nearby, with grocery access competitive among 47 Ashtabula neighborhoods and restaurant density slightly above national midpoints; on-foot amenities like parks, cafes, and childcare are limited, so residents rely more on driving. The neighborhood’s overall rating is B+, and it ranks 16 out of 47 locally, which is competitive among Ashtabula neighborhoods based on CRE market data from WDSuite.
For investors, the neighborhood’s occupancy sits around 92% and is above the metro median, which supports cash flow consistency at typical turnover levels. Median contract rents are modest relative to incomes (rent-to-income ratio around 0.17 at the neighborhood level), indicating manageable affordability pressure that can aid retention while still allowing disciplined rent growth strategies.
The property’s 1982 construction is newer than the neighborhood’s older housing stock (average vintage 1953). That positioning can enhance competitiveness versus older comparables, though prudent capital planning should account for aging systems and targeted renovations that sharpen curb appeal and operating efficiency.
Demographic statistics aggregated within a 3-mile radius show slight population contraction over the past five years, but forecasts indicate stabilization by 2028 and a smaller average household size. Rising median household incomes alongside moderate forecast rent growth suggest a tenant base with some capacity to absorb measured increases, supporting occupancy stability rather than aggressive pricing cycles.
Home values are comparatively accessible in the local context, which can create some competition from ownership. However, ownership costs still sustain reliance on rental options for many households, reinforcing depth in the renter pool and supporting steady leasing for well-managed multifamily assets.
Safety indicators compare favorably at the national level: the neighborhood sits above the national median for overall safety, with property crime levels stronger than many areas nationwide. Within the Ashtabula metro (47 neighborhoods), its crime rank falls in the lower half, indicating room for improvement relative to nearby submarkets.
Trend-wise, WDSuite’s CRE market data points to a notable decrease in estimated property offenses over the last year, a positive directional signal for investors monitoring asset risk. At the same time, estimated violent incidents increased from a low base, warranting ongoing monitoring and standard security best practices. Framed appropriately, these mixed signals argue for balanced underwriting assumptions rather than outsized risk premiums.
Regional employment is anchored by large corporate offices within commuting range, notably Progressive’s campuses, Parker-Hannifin, and a Home Depot distribution facility. These employers collectively support steady renter demand for workforce housing and contribute to leasing stability.
- Progressive Greens Building — insurance offices (29.9 miles)
- Progressive Discovery Building — insurance offices (30.4 miles)
- Progressive — insurance (31.2 miles) — HQ
- Parker-Hannifin — diversified manufacturing (32.8 miles) — HQ
- Home Depot Distribution Center — logistics/distribution (38.7 miles)
This 72-unit, 1982-vintage property benefits from neighborhood occupancy in the low-90s—above the metro median—which supports steady leasing and moderated turnover risk, according to CRE market data from WDSuite. Rents are relatively accessible versus local incomes, improving retention prospects and enabling measured rent growth tied to executed upgrades rather than reliance on outsized market momentum.
The asset’s newer vintage versus the area’s older stock provides a competitive edge, while still calling for targeted system updates and value-add renovations to enhance efficiency and appeal. Within a 3-mile radius, recent population trends are flat to slightly negative, but projections point to stabilization and smaller household sizes by 2028—factors that can sustain a diversified renter pool. The ownership landscape remains accessible, so underwriting should account for some competition from for-sale housing; however, the neighborhood’s renter concentration and commuting access to regional employers underpin demand for well-managed multifamily units.
- Occupancy above the metro median supports income stability
- 1982 vintage is competitive versus older neighborhood stock with targeted capex
- Accessible rents relative to incomes aid retention and disciplined pricing
- Commutable reach to major employers supports workforce housing demand
- Risk: ownership alternatives and mixed safety signals warrant conservative underwriting