| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Best |
| Demographics | 58th | Best |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 114 E Erie St, Jefferson, OH, 44047, US |
| Region / Metro | Jefferson |
| Year of Construction | 1994 |
| Units | 82 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
114 E Erie St, Jefferson OH Multifamily Opportunity
Neighborhood occupancy trends signal stability relative to the metro, according to WDSuite’s commercial real estate analysis, with renter demand supported by steady household formation in the area. This asset offers scale for professional management in a smaller market while retaining pricing flexibility.
Jefferson sits within the Ashtabula, OH metro’s higher-performing pockets, with the neighborhood rated A+ and ranked 1 out of 47. Occupancy in the neighborhood is in the top quartile among 47 metro neighborhoods, which supports income stability for well-managed assets. Median contract rents in the neighborhood remain moderate versus larger Ohio metros, and a rent-to-income ratio around 0.15 suggests manageable affordability pressure that can aid lease retention (based on CRE market data from WDSuite).
Livability is anchored by essential amenities rather than urban density. Childcare access ranks competitive among Ashtabula neighborhoods (rank 4 of 47), and cafes also score competitively (rank 6 of 47), while grocery access sits near the metro median (rank 23 of 47). Park access is limited (rank 47 of 47), consistent with the area’s rural character, so outdoor and recreational draw is more regional than walkable.
Schools average roughly 3.0 out of 5 and sit above many U.S. neighborhoods by percentile, offering a family-friendly baseline even if not a premium school cluster. The housing stock in this neighborhood skews older on average (1961), which positions a 1994-vintage asset as relatively newer and competitively amenitized versus legacy properties, though investors should still plan for targeted system updates or light modernization to support rent trade-outs.
Within a 3-mile radius, demographics show a nuanced demand picture: population edged down over the last five years while the number of households increased, reflecting smaller household sizes. That dynamic typically broadens the renter pool and supports occupancy stability even without headline population growth. Renter-occupied share in the neighborhood is roughly one-quarter to one-third of units, indicating a thinner but steady multifamily tenant base; in lower-cost ownership markets like this, pricing discipline and product differentiation help maintain leasing velocity.
Safety signals are mixed when viewed across geographies. Relative to the Ashtabula metro, this neighborhood ranks closer to the lower end on crime (rank 45 out of 47), indicating weaker safety positioning locally. At the national level, violent-offense rates benchmark in a generally safer band than the U.S. average by percentile, while property-offense levels sit near the middle of national peers (per WDSuite’s CRE data).
One-year changes in estimated offense rates show notable volatility. Such swings can reflect reporting dynamics as much as conditions on the ground, so investors should pair the metro-relative view with on-the-ground diligence (daypart observations, recent police blotter trends, and property-level incident logs) to underwrite operating practices and insurance assumptions responsibly.
The broader labor shed includes major corporate employers that expand the commuter base and can support workforce housing demand at this location. The list below highlights nearby offices and headquarters within a regional drive.
- Progressive Greens Building — insurance operations (37.1 miles)
- Progressive Discovery Building — insurance operations (37.4 miles)
- Progressive — insurance (38.1 miles) — HQ
- Parker-Hannifin — industrial manufacturing (39.4 miles) — HQ
- Norfolk Southern — rail transportation offices (40.1 miles)
Built in 1994 with 82 units, 114 E Erie St offers scale in a smaller Ohio market with neighborhood occupancy positioned in the top quartile among 47 metro neighborhoods. The asset’s vintage is newer than the area’s 1960s-leaning stock, supporting competitive positioning versus older properties while leaving room for targeted capital to refresh systems and interiors. According to CRE market data from WDSuite, moderate rents and a low rent-to-income ratio underpin retention, while household growth within a 3-mile radius points to a larger tenant base even as average household size declines.
The setting is rural with limited park access but solid day-to-day amenities and schools that benchmark above many U.S. neighborhoods by percentile. Ownership costs in the area are comparatively accessible, which can introduce some competition with entry-level homeownership; underwriting should emphasize product differentiation, operational discipline, and conservative rent trade-out assumptions. Safety trends warrant property-level diligence and appropriate insurance budgeting.
- Newer 1994 vintage versus older neighborhood stock supports competitive positioning
- Top-quartile neighborhood occupancy in the metro supports income stability
- Moderate rents and low rent-to-income ratio aid leasing and retention
- Household growth within 3 miles expands the renter pool even as household sizes shrink
- Risks: rural amenity depth, metro-relative safety rank, and potential competition from accessible homeownership