WHERE/HOW DETERMINES PROPERTY CLASS (A, B, C)?

[Travis Hill]

I am reading a lot about property classes and how, who, and where are they determined? What data source determines the property class? Is is subjective by real estate agents? Is it as simple as driving around and figuring it out? 

[Anna Sagatelova]

I will say this varies tremendously by markets, in Cleveland for example we have lots of A/B properties well over 20 years; some of our highest end rentals are in "historic districts". Of course some new construction in Strongsville is also A class, but so is a 40 year old home in Concord, Solon, Highland Heights.

Whereas we also have new construction in the gentrifying parts of the city, like Tremont, that are directly across the street from boarded up homes. Despite the new construction, the neighborhood is considered B-ish because of the mix of properties around it. This used to be a pretty rough area overall.

Average income levels in a given zip code as well as school districts are good indications of Neighborhood class. If you have an A neighborhood, you can have A and B properties in that neighborhood.