| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Good |
| Demographics | 66th | Best |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 115 E College Ave, Bluffton, OH, 45817, US |
| Region / Metro | Bluffton |
| Year of Construction | 1975 |
| Units | 48 |
| Transaction Date | 2017-10-24 |
| Transaction Price | $492,400 |
| Buyer | BLUFFTON RILEY VIEW LTD |
| Seller | BLUFFTON HOUSING CORP |
115 E College Ave, Bluffton OH Multifamily Investment
Neighborhood occupancy is solid and renter affordability looks supportive for lease retention, according to WDSuite s CRE market data. Emphasis is on stable fundamentals in a small renter pool rather than outsized rent growth.
Bluffton s neighborhood scores competitively within the Lima metro, with an overall A rating and standing in the top quartile among 45 metro neighborhoods. Schools are a relative strength, with average ratings near the top of the metro and high national standing, which can bolster family-oriented renter demand and longer tenancies.
Amenities are modest in this rural setting: restaurants are present, but cafes and full-service grocers are limited within the immediate area. Parks and pharmacies index above many peer areas nationally, offering day-to-day convenience. For investors, this mix points to demand tied to local institutions and employers rather than destination retail.
The neighborhood s renter-occupied share is roughly one-fifth of housing units, indicating a smaller but identifiable tenant base. Neighborhood occupancy is around 93% and sits above the national midpoint, which supports income stability more than rapid lease-up. The local rent-to-income ratio trends low, reinforcing retention and collections, while the area s ownership costs are moderate by national standards factors that can temper aggressive rent push but help sustain steady occupancy.
Demographic statistics aggregated within a 3-mile radius show recent population softness but a projected stabilization ahead, with households expected to grow signals that can expand the local renter pool even if population growth remains modest. Median household incomes have improved over recent years, adding some depth to qualified demand. Vintage context matters: the property s 1975 construction is newer than the neighborhood s average vintage (1950s era), suggesting competitive positioning versus older stock while still warranting targeted modernization for systems and common areas.
Safety indicators compare favorably in a national context. The neighborhood registers in high national percentiles for lower violent and property offense rates (top decile nationally), and recent year-over-year readings show substantial declines. This positions the area as comparatively stable versus many U.S. neighborhoods, which can aid leasing and renewal dynamics for workforce and family renters.
While crime can vary by block and over time, the broader trend suggests a supportive backdrop for multifamily operations relative to national norms. As always, investors should validate on-the-ground conditions and property-level security features during due diligence.
Regional energy and industrial employment underpins commuting demand, with proximity that can support weekday occupancy and lease retention for workforce renters. The list below highlights a major nearby headquarters relevant to the renter base.
- Marathon Petroleum energy & refining (16.1 miles) — HQ
This 48-unit asset offers exposure to a stable, small-market renter base with solid neighborhood occupancy and favorable rent-to-income dynamics that support collections and renewals. According to CRE market data from WDSuite, the surrounding neighborhood s occupancy trends sit above national midpoints, while school quality and safety indicators compare well nationally factors that can reinforce steady lease performance.
Built in 1975, the property is newer than much of the area s 1950s-era housing stock, suggesting competitive positioning with potential value-add via targeted interior updates and modernization of building systems. Demand is shaped by regional employers and local institutions in a rural setting with limited immediate amenities, pointing to consistent workforce leasing rather than discretionary, amenity-driven premiums.
- Occupancy above national midpoints supports income stability and renewals.
- Low rent-to-income ratios indicate room for measured pricing while managing retention risk.
- 1975 vintage is competitive versus older local stock, with value-add potential through selective renovations.
- Strong school and safety indicators enhance family renter appeal and lease duration.
- Risks: smaller renter pool and limited amenities may cap rent growth; ongoing capex needed for mid-1970s systems.