| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Best |
| Demographics | 52nd | Best |
| Amenities | 38th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 131 Commerce Pl, Geneva, OH, 44041, US |
| Region / Metro | Geneva |
| Year of Construction | 1992 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
131 Commerce Pl, Geneva OH Multifamily Investment
Neighborhood multifamily occupancy is around the mid-90s and sits above the metro median, according to WDSuite’s CRE market data, suggesting stable leasing conditions for a 48-unit asset.
This Geneva neighborhood is rated A and ranks 3rd out of 47 neighborhoods in the Ashtabula, OH metro, signaling solid fundamentals for a smaller, rural-type location. Reported neighborhood occupancy is 94.5% (Top national third), indicating steady demand and supporting income stability for multifamily owners, based on CRE market data from WDSuite. Median contract rents in the neighborhood and within a 3-mile radius have risen over the past five years, pointing to measured pricing power without overextension.
The property’s 1992 vintage is newer than the neighborhood’s average construction year of 1951, which can enhance competitive positioning versus older local stock. Investors should still plan for selective modernization as systems age, but the relative age advantage can support tenant attraction and retention.
Tenant base depth appears balanced rather than saturated: renter-occupied housing accounts for roughly 30% of neighborhood units, and within a 3-mile radius renters comprise about one-third of housing. For investors, this suggests a durable—but not overly concentrated—renter pool, with demand supported by rising household incomes and modest rent-to-income levels in the area.
Local services are practical rather than dense: grocery and pharmacy access rank above the metro median, while cafés and parks are limited. School ratings trend around the national middle, and home values are moderate for Ohio; that ownership landscape may create some competition with for-sale options, but it can also sustain multifamily retention where rentals offer convenience and right-sized monthly costs.
Safety indicators are mixed in a comparative context. Within the Ashtabula, OH metro, the neighborhood’s crime rank sits toward the more favorable end of the local spectrum (44th out of 47, where lower ranks indicate higher crime). Nationally, overall crime benchmarks land below the median for safety, while property offense metrics trend in the better half of U.S. neighborhoods and violent offense readings sit close to the national midpoint, according to WDSuite.
Recent year-over-year data indicate some uptick in both property and violent offense rates. Investors should underwrite with prudent assumptions and emphasize on-site lighting, access control, and resident engagement to help support leasing and retention.
Regional employers within roughly 30–40 miles support a commuting workforce, which can bolster renter demand and lease stability for Geneva-based housing. Notable anchors include Progressive, Parker-Hannifin, and a large Home Depot distribution facility.
- Progressive Greens Building — corporate offices (30.3 miles)
- Progressive Discovery Building — corporate offices (30.9 miles)
- Progressive — insurance (31.7 miles) — HQ
- Parker-Hannifin — industrial/manufacturing corporate (33.3 miles) — HQ
- Home Depot Distribution Center — logistics/distribution (39.3 miles)
131 Commerce Pl offers investors exposure to a high-occupancy Geneva submarket with measured rent growth and moderate rent-to-income ratios that support retention. The 1992 construction is materially newer than much of the local housing stock, giving the asset a positioning edge versus older comparables while leaving room for targeted upgrades to enhance durability and NOI. Neighborhood data indicate a balanced renter concentration and rising incomes, while 3-mile demographics show slight population contraction alongside evolving household composition—factors that call for disciplined leasing strategy rather than aggressive assumptions.
According to commercial real estate analysis from WDSuite, neighborhood occupancy trends remain above the metro median and in the stronger national tiers, reinforcing near-term cash flow stability. Amenities are serviceable and commute-oriented employment centers within 30–40 miles provide an additional tenant pipeline. Key risks include modest national safety positioning and potential competition from ownership given moderate home values, both of which can be addressed through asset-level enhancements and prudent underwriting.
- Newer 1992 vintage versus older local stock supports competitive positioning with targeted modernization upside
- Neighborhood multifamily occupancy in the mid-90s and above metro median supports income stability
- Balanced renter-occupied share and rising area incomes point to durable tenant demand
- Regional employers within 30–40 miles offer a steady commuter tenant pipeline
- Risks: mixed national safety positioning and competition from ownership require conservative underwriting