| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Best |
| Demographics | 46th | Good |
| Amenities | 24th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 725 S Cable Rd, Lima, OH, 45805, US |
| Region / Metro | Lima |
| Year of Construction | 1976 |
| Units | 59 |
| Transaction Date | 1978-01-01 |
| Transaction Price | $800,000 |
| Buyer | LAGOS APARTMENTS INC |
| Seller | BIRCHES OF LIMA LTD |
725 S Cable Rd, Lima OH Multifamily Investment
Neighborhood occupancy is strong and stable, supporting leasing durability according to WDSuite’s CRE market data. Investor focus is on steady renter demand in an inner-suburban location with attainable rents.
This Inner Suburb neighborhood carries a B+ rating and sits above the metro median (rank 16 of 45) for overall performance, indicating solid fundamentals for workforce housing. Neighborhood occupancy trends are exceptionally tight (top among 45 Lima neighborhoods), which supports income stability and reduces lease-up risk for comparable assets.
Everyday convenience is anchored by strong grocery access (competitive among Lima neighborhoods at rank 3 of 45), while restaurants are also accessible (rank 11 of 45). Other amenities like parks, pharmacies, and cafes are limited locally, so residents may rely on nearby corridors for select services. For investors, this mix points to dependable daily-needs shopping with a thinner lifestyle amenity set.
Renter-occupied share in the neighborhood is moderate at roughly one-third of housing units, indicating a meaningful tenant base without excessive concentration. Median contract rents remain attainable relative to local incomes, and the neighborhood’s rent-to-income profile suggests manageable affordability pressure, which can aid retention and support steady occupancy through cycles.
Within a 3-mile radius, demographics show modest population growth and a steady increase in households, expanding the tenant pool over time. Forward-looking projections indicate continued household growth and slightly smaller average household sizes, which typically sustain demand for rental units and support consistent absorption. The property’s 1976 vintage is newer than the neighborhood’s older housing stock (average 1954), offering a competitive edge versus mid-century properties while still benefiting from targeted modernization or system upgrades to enhance positioning.
Safety indicators are mixed. Compared with 45 Lima neighborhoods, this area’s crime rank is toward the lower end (rank 29 of 45), meaning it is below the metro’s safer tier. Nationally, overall safety sits around the middle of the pack, while recent trends point to improvement: violent offense estimates have declined meaningfully year over year, and property offenses show a modest downward trend. For investors, the trajectory suggests improving conditions, but underwriting should still reflect conservative assumptions consistent with an inner-suburban setting.
Regional employment is anchored by energy and industrial corporate offices within commuting range, supporting renter demand from a diversified workforce. Nearby representation includes Marathon Petroleum.
- Marathon Petroleum — energy & refining corporate offices (33.4 miles) — HQ
The investment case centers on occupancy stability, attainable rents, and a dependable daily-needs location. Neighborhood occupancy ranks first among 45 Lima neighborhoods, and rent-to-income readings indicate manageable affordability pressure—factors that can support steady collections and lower turnover. According to CRE market data from WDSuite, local grocery access is competitive while lifestyle amenities are thinner, a trade-off that typically aligns with workforce-oriented demand.
Built in 1976, the asset is newer than much of the surrounding stock and may benefit from targeted value-add or system updates to sharpen competitive positioning against older properties. Modest population growth and an expanding household base within a 3-mile radius support a gradually widening renter pool, which can underpin leasing resilience over a longer hold.
- Tight neighborhood occupancy supports income stability and reduces lease-up risk.
- Attainable rents relative to local incomes aid retention and pricing flexibility.
- 1976 vintage offers a competitive edge versus older stock with value-add potential through selective upgrades.
- Daily-needs access (strong grocery presence) supports renter convenience and leasing durability.
- Risk: thinner lifestyle amenities and below-metro safety standing warrant conservative underwriting and asset management focus.