| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Best |
| Demographics | 55th | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 14767 Northview Dr, Middlefield, OH, 44062, US |
| Region / Metro | Middlefield |
| Year of Construction | 1990 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | $1,154,900 |
| Buyer | MIDDLEFIELD ELDERLY HOUSING LP |
| Seller | MIDDLEFIELD LTD |
14767 Northview Dr, Middlefield OH Multifamily Asset
Neighborhood occupancy trends sit in the top quintile nationally, supporting stable cash flow potential for a 36-unit property, according to WDSuite s CRE market data. Positioning in a rural node with steady renter demand offers defensive characteristics if asset management prioritizes retention over aggressive rent pushes.
The property sits in an A- rated neighborhood that ranks in the top quartile among 569 Cleveland Elyria metro neighborhoods, based on WDSuite s commercial real estate analysis. The area s rural profile favors quieter living while still offering essential services; amenities score competitively within the metro (amenities rank 56 of 569), signaling everyday convenience without urban congestion.
Occupancy for the surrounding neighborhood is in the top quintile nationally, a positive indicator for income stability and lease renewal prospects. Renter concentration is about one-third of housing units, which suggests a meaningful but not saturated tenant base a backdrop where thoughtful marketing and tenant service can support steady absorption rather than rapid lease-up dependency.
Within a 3-mile radius, demographics indicate smaller household sizes over time and a mix shift toward higher-income brackets. Even as population is projected to edge down, the number of households is expected to rise, implying more, smaller households entering the market a pattern that can expand the renter pool and support occupancy, especially for well-maintained, right-sized units.
Ownership costs in this area are moderate compared with high-cost markets, which can introduce some competition with buying. However, measured rent levels and a rent-to-income position that sits above the national median suggest manageable affordability pressure for renters, which can aid retention and reduce turnover friction for operators.
Vintage is 1990, newer than the neighborhood s average build year of 1980. Investors can position this as relatively competitive versus older stock while planning for targeted system upgrades and common-area refreshes to sustain leasing performance against renovated comparables.
Safety indicators for the neighborhood are generally favorable in a regional context. Crime ranks 207 out of 569 metro neighborhoods, which places the area above the metro median. Nationally, property crime sits in a stronger position (around the top quartile), and recent data show notable improvement in property incident rates year over year.
Violent offense metrics are better than many neighborhoods nationwide (around the upper ranges), though year-over-year volatility has been observed. Investors should underwrite with standard precautions lighting, access control, and resident engagement while recognizing that the broader trend profile compares competitively across the region.
Employment access is anchored by regional insurance, industrial manufacturing, and distribution nodes, supporting workforce renter demand and commute convenience for residents. Nearby employers include Progressive facilities, Parker Hannifin, and a Home Depot distribution center.
- Progressive Discovery Building insurance operations (19.3 miles)
- Progressive insurance (19.5 miles) HQ
- Parker Hannifin industrial manufacturing (19.6 miles) HQ
- Progressive Greens Building insurance operations (19.7 miles)
- Home Depot Distribution Center retail distribution (20.4 miles)
This 36-unit, 1990-vintage asset benefits from neighborhood occupancy levels in the top quintile nationally and a renter share near one-third of local housing units a combination that supports durable demand without overreliance on deep concessions. Within a 3-mile radius, household counts are expected to rise even as population trends soften, reflecting smaller household sizes that can expand the renter base and underpin steady leasing.
Positioned in a rural submarket that ranks in the top quartile among 569 metro neighborhoods, the asset competes against older inventory while allowing room for focused value-add: systems modernization, in-unit finishes, and amenity touches that enhance retention. Ownership costs are moderate versus high-cost markets, so underwriting should assume some competition from entry-level ownership; however, measured rent levels and favorable rent-to-income positioning help sustain pricing power, based on CRE market data from WDSuite.
- Top-quartile neighborhood positioning with nationally strong occupancy supports income stability
- 1990 vintage offers competitive footing versus older stock with targeted upgrade upside
- 3-mile household growth and smaller household sizes expand the tenant base and support renewals
- Workforce access to regional insurance, manufacturing, and distribution employers aids leasing consistency
- Risks: population softening, moderate competition from ownership, and the need to manage safety and school-perception sensitivities