| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Good |
| Demographics | 66th | Best |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 137 Vance St, Bluffton, OH, 45817, US |
| Region / Metro | Bluffton |
| Year of Construction | 1986 |
| Units | 80 |
| Transaction Date | 1985-09-30 |
| Transaction Price | $80,000 |
| Buyer | VANCE STREET DEVELOPMENT LLC |
| Seller | VANCE STREET HOUSING INC |
137 Vance St, Bluffton OH Multifamily Opportunity
Neighborhood fundamentals in Bluffton point to steady renter demand and manageable turnover, according to WDSuite’s CRE market data, with occupancy in the area holding in a healthy range and schools scoring well versus peers. The property’s relatively newer vintage for the submarket supports competitive positioning with potential to capture renters seeking value and stability.
Bluffton’s neighborhood profile is rated A and ranks 5th out of 45 within the Lima metro, indicating it is competitive among Lima neighborhoods. Local occupancy trends in the neighborhood sit in a stable range and have been relatively resilient compared with broader Midwest small-town markets, supporting consistent leasing for well-managed multifamily assets.
Schools in the neighborhood test strongly, ranking 1st of 45 metro neighborhoods and around the 96th percentile nationally. For investors, strong schools can bolster family-driven renter demand and lease retention, particularly for larger units or properties catering to longer-term tenancies.
Renter concentration in the neighborhood is modest (about one-fifth of housing units are renter-occupied), signaling an owner-leaning area. This typically means a narrower renter pool but can also imply steadier tenancy and less competitive apartment supply pressure. Within a 3-mile radius, WDSuite demographic data show households contracting in recent years but are projected to grow over the next five years, which would expand the tenant base and support occupancy stability for professionally operated properties.
Affordability is a relative strength: rent-to-income levels are low by national standards, which can support retention and measured rent optimization over time. Amenity density is limited for cafes and groceries, while parks and pharmacies rank above many peer neighborhoods, a mix that fits the area’s rural profile and suggests residents rely on regional retail nodes for broader services.
Safety indicators are a relative positive for this neighborhood. Crime ranks 3rd out of 45 Lima metro neighborhoods, making it competitive among Lima neighborhoods, and safety levels are stronger than most areas nationwide (around the 90th percentile). According to WDSuite’s CRE market data, both violent and property offense rates trend on the safer side compared with national norms, with recent year-over-year declines indicating improving conditions.
As always, conditions can vary by block and over time; investors should evaluate property-level operations (lighting, access control, and tenant screening) as part of standard risk management to maintain leasing stability.
The employment base is anchored by regional energy and industrial operations within a commutable radius, which supports workforce housing demand and lease retention for well-located assets. Key nearby employer includes:
- Marathon Petroleum — energy (16.0 miles) — HQ
Built in 1986, the asset is newer than much of the local housing stock, offering a competitive edge versus older properties while leaving room for targeted modernization to enhance rents and operating efficiency. According to CRE market data from WDSuite, the surrounding neighborhood shows stable occupancy, top-tier school performance, and low rent-to-income levels, all of which support steady leasing and above-average retention for well-run multifamily.
The area’s renter concentration is modest, so leasing strategies should focus on value, convenience, and unit readiness to capture demand from a steady but thinner renter pool. Forward-looking 3-mile demographics point to an increase in households, suggesting a larger tenant base over the medium term even as broader rural markets face slower population growth.
- 1986 vintage offers relative competitiveness with value-add modernization potential
- Stable neighborhood occupancy and strong schools support retention
- Low rent-to-income dynamics provide room for disciplined rent optimization
- Rising household counts within 3 miles point to a growing tenant base
- Risks: thinner renter pool in an owner-leaning, amenity-light rural setting