| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Best |
| Demographics | 40th | Good |
| Amenities | 18th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 770 Chestnut St, Geneva, OH, 44041, US |
| Region / Metro | Geneva |
| Year of Construction | 1973 |
| Units | 102 |
| Transaction Date | 2019-05-10 |
| Transaction Price | $700,000 |
| Buyer | SS PROPERTIES I LLC |
| Seller | CHESTNUT OHIO LLC |
770 Chestnut St Geneva OH Multifamily Investment
Neighborhood occupancy has held firm above the metro median, supporting steady renter demand in Geneva, according to WDSuite’s CRE market data. With a mixed tenure base and durable local services, the area offers pragmatic stability for income-oriented investors.
The property sits in a Rural neighborhood of the Ashtabula, OH metro with a B+ neighborhood rating, where occupancy at the neighborhood level has been resilient and trending upward over the past five years. Renter-occupied housing makes up roughly one-third of units locally, indicating a defined but balanced tenant base that can support leasing stability without oversaturation.
Amenity access skews practical rather than lifestyle-driven: grocery availability is competitive among Ashtabula neighborhoods (better than many of the 47 neighborhoods in the metro), and restaurant density is similarly solid relative to the metro. By contrast, cafes, parks, and childcare options are limited in this immediate area, reflecting the Rural context and suggesting a resident profile oriented toward essentials rather than discretionary amenity clusters.
At the building level, a 1973 vintage is newer than the neighborhood’s older housing stock average (1953). For investors, that typically means lower near-term functional obsolescence versus pre-1960 assets while still presenting value-add pathways through targeted renovations, system upgrades, and common-area modernization to enhance competitiveness against both newer deliveries and well-positioned legacy properties.
Demographics aggregated within a 3-mile radius show modest population softening but an evolving household mix and slightly smaller average household sizes over time. That shift can expand the renter pool relative to population, supporting occupancy stability for practical unit types. Home values and ownership costs remain measured in this submarket; paired with a moderate rent-to-income profile, this dynamic can support retention and controlled pricing power for well-managed multifamily assets.
Safety indicators compare reasonably well at the national level, with overall conditions around the national middle and property crime performing in the top quartile nationally. This suggests day-to-day risks are manageable compared to many U.S. neighborhoods.
Recent trends show improvement in property offenses alongside some uptick in violent incidents. Investors should plan for standard security measures and ongoing monitoring of local data; positioning the asset with lighting, access controls, and resident engagement can help sustain leasing confidence without relying on block-level assumptions.
Regional employment is anchored by insurance, industrial manufacturing, and logistics nodes within roughly 30–40 miles, supporting workforce housing demand and retention for commuters. Key employers include Progressive facilities, Parker-Hannifin, and a Home Depot distribution hub.
- Progressive Greens Building — insurance (29.7 miles)
- Progressive Discovery Building — insurance (30.3 miles)
- Progressive — insurance (31.1 miles) — HQ
- Parker-Hannifin — industrial manufacturing (32.8 miles) — HQ
- Home Depot Distribution Center — logistics (38.7 miles)
770 Chestnut St offers a 1973-vintage, 102-unit asset in a neighborhood where occupancy has remained above the metro median and trended upward, supporting income durability. According to CRE market data from WDSuite, the area’s renter concentration is meaningful yet not dominant, which helps balance tenant depth with stable renewal potential. With grocery and restaurant access competitive within the metro but limited lifestyle amenities nearby, the property’s appeal centers on functional value rather than amenity-driven premiums—an environment where thoughtful renovations can translate directly into leasing outcomes.
Within a 3-mile radius, demographics point to a modest population dip but evolving household structures and slightly smaller sizes, which can sustain multifamily demand even as headcounts change. Moderated rent-to-income dynamics and measured ownership costs in the submarket frame a leasing story grounded in retention and measured pricing power, while proximity to regional employers within 30–40 miles reinforces a steady commuter renter base.
- Neighborhood occupancy above metro median supports stable collections
- 1973 vintage offers value-add opportunity via unit and system upgrades
- Practical amenity profile with strong grocery/restaurant access relative to metro
- Commuter access to major employers within ~30–40 miles supports demand depth
- Risks: limited lifestyle amenities, recent violent-crime uptick, and modest population softness require active asset management