| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 23rd | Poor |
| Demographics | 55th | Best |
| Amenities | 14th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6155 Lake St, Kingsville, OH, 44048, US |
| Region / Metro | Kingsville |
| Year of Construction | 1977 |
| Units | 22 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6155 Lake St, Kingsville OH 22-Unit Investment
Neighborhood occupancy has been steady and rent levels remain relatively accessible, supporting retention and cash flow management according to WDSuite’s CRE market data.
Kingsville’s rural setting offers a quieter tenant profile with limited nearby retail and dining, which can translate into stable but slower-moving leasing. Neighborhood occupancy is measured for the neighborhood, not the property, and has held in a relatively consistent range in recent years, suggesting demand stability rather than rapid growth.
Amenities are sparse locally (few cafes, parks, and childcare options), so residents rely on regional nodes for services. Rents in the neighborhood have trended upward over the past five years while still positioning below many national peers, providing room for measured increases without overextending renter budgets. Average school ratings in the area are below national norms, which may modestly narrow the family renter pool.
The property’s 1977 vintage is newer than much of the surrounding housing stock (many homes pre-date mid-century), which can provide a competitive edge versus older comparables. Investors should still plan for targeted systems updates and common-area refreshes typical of late-1970s construction to support retention and modest rent growth.
Within a 3-mile radius, population and household counts have increased and are projected to continue rising, with average household size edging lower. This dynamic generally expands the renter pool by adding more households even as units per household decrease, supporting occupancy stability for well-managed assets.
Home values in the neighborhood are relatively accessible by national standards, which can create some competition from ownership. However, rent-to-income ratios in the area are low, limiting affordability pressure and supporting lease retention—an advantage for disciplined revenue management and resident longevity during renewals.
Safety indicators for the neighborhood are mixed. Nationally, the area trends better than average on several measures (stronger standing in national percentiles), yet within the Ashtabula metro it sits below the metro median (ranked 30 out of 47 neighborhoods). This means the neighborhood compares reasonably well across the U.S., but relative to nearby Ashtabula communities there is room for improvement.
Recent data show an upswing in property-related incidents over the latest year while violent incident trends improved. As always, investors should underwrite to current operating practices—lighting, access controls, and resident engagement—and monitor local trendlines rather than relying on block-level assumptions. These metrics are neighborhood-level, not property-specific, based on WDSuite’s CRE market data.
Regional employment accessible from Kingsville includes manufacturing and insurance, supporting a commuter renter base and aiding retention through diversified white- and blue-collar demand. The employers below represent realistic commute sheds for residents.
- Parker-Hannifin — manufacturing (32.6 miles)
- Erie Insurance Group — insurance (34.8 miles) — HQ
This 22-unit, 1977 asset offers a practical value-add path in a rural Ashtabula County location where neighborhood occupancy has been steady and rent levels remain comparatively manageable for local incomes. Newer relative to much of the surrounding housing stock, the property can compete against older alternatives with targeted capital to modernize interiors and common areas, supporting retention and measured rent growth.
Within a 3-mile radius, population and household counts have risen and are projected to continue increasing, which expands the tenant base and supports occupancy stability. At the same time, ownership remains relatively accessible locally, so pricing strategies should balance renewal retention with incremental rent steps. According to CRE market data from WDSuite, neighborhood-level safety trends are better than national averages on several indicators but sit below the metro median, warranting continued operational focus.
- Steady neighborhood occupancy and low rent-to-income support retention
- 1977 vintage newer than local stock; targeted updates can enhance competitiveness
- Expanding 3-mile household base supports leasing demand over time
- Balanced rent positioning versus accessible ownership to maintain pricing power
- Risk: limited nearby amenities and mixed safety standing within the metro