| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Best |
| Demographics | 52nd | Best |
| Amenities | 38th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 961 E Main St, Geneva, OH, 44041, US |
| Region / Metro | Geneva |
| Year of Construction | 2000 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
961 E Main St, Geneva 40-Unit Multifamily
Neighborhood occupancy trends are competitive among Ashtabula submarkets and appear stable, according to WDSuite’s CRE market data, supporting steady cash flow potential in an owner-leaning area. With rents positioned near local incomes, the asset’s leasing should benefit from a broad workforce tenant base.
The property sits in an A-rated neighborhood that ranks 3rd of 47 in the Ashtabula, OH metro—top quartile among metro neighborhoods, based on CRE market data from WDSuite. Local occupancy is strong relative to peers and sits above the national middle of the pack, which reinforces baseline leasing stability for multifamily.
Everyday services are reasonably accessible for a rural location: grocery and pharmacy access compares favorably against many Ashtabula neighborhoods, while parks and cafes are sparse. Average school ratings track near the national midpoint, which supports broad family appeal without commanding premium pricing.
Renter concentration in the neighborhood is roughly one-third of housing units, indicating a smaller but durable renter pool that typically favors careful tenant retention and steady turnover management rather than rapid lease-up strategies. Median contract rents and a rent-to-income profile near the national middle suggest manageable affordability pressures for residents, which can aid renewals and limit concessions.
The average neighborhood housing stock skews older (1950s), while this asset was built in 2000. That relative vintage advantage can help compete against older product; investors should still plan for selective modernization and systems upkeep to sustain positioning versus newer supply in the wider region.
Demographic statistics within a 3-mile radius show modest population contraction over the past five years, with forecasts pointing to smaller household sizes and a mix shift toward higher incomes. This combination can support effective rent management and occupancy stability, but may require a measured approach to rent growth and marketing as the renter pool evolves.
Safety indicators are mixed when viewed nationally: overall crime patterns register around the lower half of national percentiles, while property and violent offense measures trend closer to the middle. Recent year-over-year changes show some volatility, so prudent underwriting should emphasize property-level security practices and tenant screening rather than relying solely on neighborhood averages.
Compared with broader regional patterns, the area’s safety profile is neither an outlier on the high-risk side nor a standout at the top; investors should weigh trend direction and on-the-ground management as key levers for resident retention and reputation.
Regional employment access is supported by large corporate nodes within commuting range, which can underpin workforce housing demand and resident retention. Key nearby employers include Progressive’s major campuses, Parker-Hannifin, and a Home Depot distribution facility.
- Progressive Greens Building — insurance operations (31.4 miles)
- Progressive Discovery Building — insurance operations (32.0 miles)
- Progressive — insurance — HQ (32.9 miles)
- Parker-Hannifin — industrial/engineering — HQ (34.5 miles)
- Home Depot Distribution Center — logistics (40.5 miles)
Built in 2000 with 40 units, the property benefits from a relative vintage edge versus predominantly mid-century neighborhood stock, positioning it well against older competitors while leaving room for targeted upgrades. Neighborhood occupancy trends are competitive among Ashtabula neighborhoods and above national mid-range levels, supporting steady tenancy and manageable turnover risk. According to commercial real estate analysis from WDSuite, local rents track close to household incomes, indicating manageable affordability pressure that can favor renewals over heavy concessions.
Within a 3-mile radius, recent population has edged down, but projections indicate smaller household sizes and higher income mix, which can maintain a dependable tenant base even as the renter share remains moderate. Investors should underwrite for ongoing capital planning to keep the 2000-vintage systems competitive and adopt a measured rent strategy that prioritizes retention and occupancy stability over aggressive premiums.
- Competitive neighborhood occupancy supports stable leasing relative to metro peers
- 2000 vintage offers an edge versus older stock with selective value-add potential
- Rents aligned with local incomes aid renewals and pricing discipline
- Commutable access to major employers underpins workforce housing demand
- Risks: modest population contraction, mixed safety trends, and moderate renter pool call for conservative rent growth and active management