| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Best |
| Demographics | 33rd | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 209 W Beech St, Jefferson, OH, 44047, US |
| Region / Metro | Jefferson |
| Year of Construction | 1972 |
| Units | 122 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
209 W Beech St, Jefferson, OH Multifamily Investment
Neighborhood occupancy is holding above the metro median with a modest upward trend, pointing to steady leasing fundamentals, according to WDSuite s CRE market data. In a rural setting with accessible rents, investors should focus on demand durability and operational execution rather than amenity-driven premiums.
This property sits in a rural neighborhood of Ashtabula County where day-to-day conveniences are limited, so resident appeal leans on quiet setting and value rather than dense amenities. Neighborhood occupancy is above the metro median (rank 21 of 47), suggesting reasonably steady tenant retention even without extensive retail or transit. Median contract rents in the neighborhood track on the lower end of the metro, supporting a value-oriented renter profile and potentially smoothing lease renewal risk.
Built in 1972, the asset is slightly newer than the area s average vintage (1969). That positioning can be competitive versus older stock, while investors should still plan for aging systems and targeted modernization to protect occupancy and pricing power over the hold.
Tenure patterns indicate a smaller renter base locally: the neighborhood s share of renter-occupied units is roughly one-quarter, while demographics aggregated within a 3-mile radius show renter-occupied concentration closer to one-third. For multifamily owners, that mix points to a defined but not unlimited pool of prospects, making leasing performance reliant on effective unit turns, reputation, and management quality.
Within a 3-mile radius, households increased over the last five years even as population edged down, implying smaller average household sizes and a wider count of householders. Looking forward, WDSuite s CRE market data indicates additional growth in household counts over the next five years, which can expand the local renter pool and support occupancy stability if units are maintained competitively.
Home values in the neighborhood sit well below major metro averages. In practical terms, a more accessible ownership market can introduce competition for renters, so underwriting should emphasize unit quality, management, and operations to sustain retention. At the same time, a low rent-to-income profile in the neighborhood points to manageable affordability pressure, which can help stabilize collections.
Safety indicators for the neighborhood are mixed in comparative terms. On a metro basis, estimated violent-offense rates are competitive among Ashtabula neighborhoods (rank 17 out of 47), and property-offense rates perform above the metro median (rank 21 out of 47). Nationally, both violent and property offense estimates sit in the higher safety percentiles compared with neighborhoods across the country, which can support leasing confidence and resident retention.
Recent trend data warrants monitoring: year-over-year changes show an upswing in estimated property offenses at the neighborhood level. Investors should incorporate routine lighting, access-control, and surveillance upgrades into capital plans and track local reporting trends during diligence.
Regional employment access is anchored by insurance and industrial employers, plus rail transportation, which supports renter demand through commute-oriented workforce housing. The nearest nodes include Progressive offices and HQ, Parker-Hannifin s headquarters, and Norfolk Southern offices.
- Progressive Greens Building insurance offices (36.8 miles)
- Progressive Discovery Building insurance offices (37.1 miles)
- Progressive insurance (37.9 miles) HQ
- Parker-Hannifin industrial & engineering (39.1 miles) HQ
- Norfolk Southern rail transportation (40.9 miles)
The investment case centers on durable, value-driven tenancy in a rural submarket where neighborhood occupancy trends are above the metro median and median rents are comparatively accessible. Based on CRE market data from WDSuite, the area s tenure mix and low rent-to-income levels point to manageable affordability pressures that can support collections, while household growth within a 3-mile radius expands the base of potential renters over time.
At a 1972 vintage, the asset is slightly newer than the local average and can compete against older stock, but investors should plan for system upgrades and selective renovations to sustain competitiveness. With limited nearby amenities and an ownership market that is relatively accessible, execution will hinge on operations, unit quality, and targeted capex to preserve occupancy and rent positioning.
- Above-metro-median neighborhood occupancy supports leasing stability
- Value-oriented rents and low rent-to-income ratios aid retention
- 3-mile household growth broadens the prospective renter base
- 1972 vintage offers light competitive edge vs. older stock with capex planning
- Risks: amenity-light rural setting, accessible homeownership options, and recent uptick in property-offense estimates