| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Best |
| Demographics | 58th | Best |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 333 S Market St, Jefferson, OH, 44047, US |
| Region / Metro | Jefferson |
| Year of Construction | 1977 |
| Units | 62 |
| Transaction Date | 2012-12-07 |
| Transaction Price | $760,927 |
| Buyer | PINE TERRACE FAMILY APARTMENTS LLC |
| Seller | DECLARATIO LINDSEY CATHY R |
333 S Market St, Jefferson OH Multifamily Opportunity
Neighborhood occupancy has held firm and renter demand appears steady for workforce-oriented units, according to WDSuite s CRE market data, supporting a case for durable cash flow in a rural Ashtabula setting.
Jefferson s neighborhood profile is rated A+ and ranks 1 out of 47 Ashtabula neighborhoods, reflecting stable fundamentals for a rural location. Amenity access ranks 6 of 47, placing the area in the top quartile locally, with cafes and pharmacies per square mile tracking above national midpoints. Average school quality trends around the national upper-mid range for similar communities, offering a practical foundation for family renters.
Multifamily operations benefit from neighborhood occupancy measured at 93.9% (for the neighborhood, not the property), with an occupancy rank of 9 of 47 also top quartile in the metro suggesting resilient absorption and lease retention potential. Median asking rents in the neighborhood remain modest while showing solid five-year growth, and the rent-to-income ratio sits near the national midpoint, which can help manage affordability pressure and support renewal rates.
Tenure data indicates a renter-occupied share around 27.1% at the neighborhood level (competitive among Ashtabula neighborhoods), implying a smaller but durable renter pool for a market of this size. Within a 3-mile radius, households have increased even as population edged lower over the last five years a shift toward smaller household sizes that can expand the tenant base for efficiently sized units. Forecasts within that same 3-mile radius point to additional growth in households through 2028, supporting occupancy stability for well-positioned assets.
The property s 1977 vintage is newer than the neighborhood s average construction year of 1961. That relative youth can be a competitive edge versus older local stock, though investors should still plan for targeted modernization and system upgrades typical of late-1970s construction. Ownership costs in the area are comparatively moderate by national standards, which may create some competition with for-sale options; effective leasing and positioning can help sustain pricing power and retention.
Safety signals are mixed when viewed against national benchmarks. Overall crime levels align below national averages for safety (around the 31st percentile nationally), while violent-offense indicators trend more favorable, closer to the 63rd percentile nationwide. Property-offense metrics sit near the upper-mid national range. Recent year-over-year estimates show volatility, so investors should monitor trend direction alongside property-level security measures and local policing initiatives.
Interpreting these figures at the neighborhood scale offers helpful context rather than block-level precision. For underwriting, consider practical mitigants such as lighting, access control, and resident engagement, and track multi-year trend data to assess whether recent fluctuations normalize or persist.
Regional employment is anchored by large corporate operations within commuting distance, supporting renter demand via steady office and industrial payrolls. The list below highlights nearby Progressive facilities, Parker-Hannifin s corporate presence, and Norfolk Southern rail operations.
- Progressive Greens Building insurance operations (37.0 miles)
- Progressive Discovery Building insurance operations (37.3 miles)
- Progressive insurance HQ (38.0 miles) HQ
- Parker-Hannifin diversified industrials (39.2 miles) HQ
- Norfolk Southern rail transportation offices (39.9 miles)
This 62-unit asset offers exposure to a high-ranking rural neighborhood where occupancy has remained solid and rents track at accessible levels, supporting retention and steady leasing. Based on CRE market data from WDSuite, the neighborhood s occupancy sits in the metro s top quartile, with renter demand supported by a smaller but reliable renter-occupied share. Household growth within a 3-mile radius despite earlier population softening points to a larger tenant base and supports forward leasing stability.
The 1977 vintage is newer than the area s average stock, offering a relative competitive advantage versus older product while leaving room for targeted value-add: common-area refreshes, energy-efficiency upgrades, and in-unit updates that can enhance positioning without overextending capex. Ownership costs remain moderate in context, so thoughtful pricing and amenities are important to balance potential competition from entry-level for-sale options.
- Top-quartile neighborhood occupancy supports cash flow durability and leasing stability
- Renter demand supported by steady household growth within a 3-mile radius
- 1977 vintage offers relative competitiveness versus older local stock with targeted value-add upside
- Accessible rent levels and mid-range rent-to-income support renewal and pricing discipline
- Risks: smaller renter pool for a rural submarket and potential competition from for-sale housing