| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Best |
| Demographics | 55th | Good |
| Amenities | 54th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2124 Park Ave W, Ontario, OH, 44906, US |
| Region / Metro | Ontario |
| Year of Construction | 1980 |
| Units | 30 |
| Transaction Date | 2006-11-01 |
| Transaction Price | $4,346,000 |
| Buyer | ALS ONTARIO REAL ESTATE LLC |
| Seller | MANSFIELD AVIV LLC |
2124 Park Ave W Ontario Multifamily Investment
Neighborhood occupancy is strong and historically resilient, supporting steady leasing and cash flow potential, according to WDSuite s CRE market data. These are neighborhood-level signals, offering context for underwriting rather than a property-specific guarantee.
The property sits in an A+ rated neighborhood that ranks 1 out of 54 in the Mansfield metro, signaling durable fundamentals for a 30-unit asset. Neighborhood occupancy is in the top decile nationally and above the metro median, a favorable backdrop for maintaining rent rolls and reducing downtime between turns, per commercial real estate analysis from WDSuite. Note that these are neighborhood metrics, not the property s own performance.
Everyday convenience is competitive among Mansfield neighborhoods: restaurants and groceries rank 7 and 16 out of 54, respectively, suggesting solid access to essentials without urban pricing. Average school ratings are the highest in the metro (1 of 54) and sit in the top quartile nationally, which can help with family-oriented renter retention.
Within a 3-mile radius, population has expanded in recent years and is projected to keep growing, with households expected to increase notably over the next five years. That expansion, alongside a renter-occupied share that is set to rise, points to a larger tenant base and supports occupancy stability for multifamily operators.
Home values are lower than many U.S. markets and value-to-income levels are comparatively modest for the region. For investors, that means ownership can compete with rentals, but relatively low rent-to-income levels help maintain pricing headroom and can support lease retention where product quality and management execution are strong.
The asset s 1980 vintage is older than the neighborhood average construction year (1993). Investors should plan for targeted capital improvements and potential value-add upgrades to keep the property competitive versus newer stock while leveraging stable neighborhood demand.
Safety signals are mixed when viewed across geographies. Compared with U.S. neighborhoods, violent-offense indicators track in the top decile for safety, and property-offense measures also compare favorably at a national level. Within the Mansfield metro, however, the neighborhood s crime rank (5 out of 54) indicates higher incident levels than many nearby areas.
Year over year, property-related incidents have recently moved higher, while violent-offense measures have eased. Investors should underwrite with current comps, monitor trend direction, and align operating practices (lighting, access control, resident screening) with the submarket context.
Regional employers provide a diversified job base within commuting distance, supporting workforce renter demand and lease stability. The list below reflects notable nearby employers relevant to prospective residents.
- International Paper Company paper & packaging (35.2 miles)
- J.M. Smucker food manufacturing (43.9 miles) HQ
2124 Park Ave W offers a 30-unit footprint in Mansfield s top-ranked neighborhood, where occupancy trends are above the metro median and in the top decile nationally, according to CRE market data from WDSuite. Within a 3-mile radius, population has grown and households are projected to increase meaningfully, expanding the renter pool and supporting leasing velocity for well-managed product.
Built in 1980, the property is older than the neighborhood s average stock, creating a clear value-add path via unit modernization and targeted systems upgrades. Ownership costs in the area are comparatively accessible, which can introduce competition from entry-level ownership; however, relatively modest rent-to-income levels and strong school ratings support tenant retention and steady occupancy for quality multifamily assets.
- Top-ranked neighborhood (1 of 54) with nationally strong occupancy supports stable rent rolls
- 3-mile household growth and a rising renter share expand the tenant base
- Value-add potential: 1980 vintage can be repositioned to compete with newer stock
- Operational backdrop benefits from strong school ratings and everyday amenities competitive in the metro
- Risks: owner-leaning tenure and recent property-incident uptick warrant conservative underwriting and active management