| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Best |
| Demographics | 55th | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16246 E High St, Middlefield, OH, 44062, US |
| Region / Metro | Middlefield |
| Year of Construction | 2012 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
16246 E High St Middlefield 2012 Multifamily Investment
Neighborhood occupancy in Middlefield trends high, supporting durable cash flow potential for a 36‑unit asset, according to WDSuite’s CRE market data.
Middlefield’s neighborhood rates A- and places in the top quartile among 569 Cleveland–Elyria neighborhoods, signaling balanced fundamentals for long‑term multifamily ownership. The local renter base is modest (roughly one‑third of units renter‑occupied), which typically supports stable tenancy with measured turnover rather than heavy leasing churn.
Occupancy in the neighborhood is elevated at about 97%, a level that has supported resilience across cycles and can aid rent collections and renewal consistency. Median contract rents are comparatively modest for the metro, and the rent‑to‑income profile indicates limited affordability pressure, which can support retention and predictable lease management.
Livability indicators are steady: access to groceries, pharmacies, parks, and everyday services is competitive for a rural setting, while cafes and restaurants are present but not dense. Average school ratings sit around the middle of the pack for the metro, which may influence family renter demand but is unlikely to be the primary draw for this workforce‑oriented submarket.
Within a 3‑mile radius, recent data shows a slight population dip alongside rising incomes and a forecast increase in households with smaller household sizes. For investors, a growing household count with smaller sizes typically expands the renter pool and supports occupancy stability even when total population is flat to slightly down. Elevated home values for the area, while not high by national standards, mean ownership carries meaningful costs, reinforcing reliance on multifamily housing and aiding lease retention.
The property’s 2012 construction is newer than the neighborhood’s average vintage (1980), positioning the asset competitively versus older stock and potentially reducing near‑term capital needs while allowing targeted upgrades to drive rent premiums over time.
Safety indicators benchmark favorably overall. The neighborhood’s composite crime standing is competitive among Cleveland–Elyria areas (ranked 207 out of 569), and property‑related offenses track in a stronger national percentile, indicating relatively favorable conditions compared with many U.S. neighborhoods.
Trends are mixed: property offenses have improved on a year‑over‑year basis, while violent‑offense readings show recent volatility from a low base. For underwriting, a prudent approach is to assume stability at the neighborhood level while monitoring trend direction rather than block‑level variation.
A diversified employment base within commuting distance supports renter demand, led by insurance, industrial manufacturing, logistics, and rail transportation employers noted below.
- Progressive Discovery Building — insurance (20.7 miles)
- Progressive — insurance (20.9 miles) — HQ
- Parker-Hannifin — industrial manufacturing (21.0 miles) — HQ
- Progressive Greens Building — insurance (21.1 miles)
- Home Depot Distribution Center — logistics/distribution (21.7 miles)
- Norfolk Southern — rail transportation (23.4 miles)
This 36‑unit, 2012‑built asset benefits from a high‑occupancy neighborhood and a renter base supported by steady everyday amenities and commutable access to major employers. Based on CRE market data from WDSuite, local median rents remain moderate relative to incomes, which can support renewal rates and predictable collections while allowing room for targeted rent optimization.
With the neighborhood ranking in the top quartile within the Cleveland–Elyria metro and 3‑mile forecasts pointing to more households and smaller household sizes, the tenant base should remain durable even as total population trends level. The newer vintage versus area stock positions the property competitively, with optional value‑add via selective unit and common‑area updates. Key risks include smaller‑market depth, mixed safety trend signals, and moderate school performance, warranting conservative underwriting on rent growth and absorption.
- High neighborhood occupancy supports cash flow stability and renewals
- 2012 construction offers competitive positioning versus older local stock
- Moderate rents relative to incomes enable disciplined rent optimization
- Commutable access to regional employers underpins workforce renter demand
- Risks: smaller‑market depth, mixed safety trends, and average school ratings