| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 32nd | Fair |
| Demographics | 33rd | Fair |
| Amenities | 43rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 801 S Mumaugh Rd, Lima, OH, 45804, US |
| Region / Metro | Lima |
| Year of Construction | 1981 |
| Units | 106 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
801 S Mumaugh Rd Lima Multifamily Value-Add Potential
Positioned for workforce demand with small-unit efficiency, the property sits in a neighborhood where renter-occupied housing is above the metro median, according to WDSuite’s CRE market data.
This Lima, Ohio asset sits in a Rural neighborhood rated B out of 45 metro neighborhoods, placing it above the metro median for overall standing. Local livability is balanced: grocery and pharmacy access track near national mid-to-upper ranges, cafes and restaurants score stronger than average nationally, while parks and childcare are limited. For investors, that mix supports day-to-day convenience but suggests amenities are a secondary—not primary—leasing driver.
Neighborhood occupancy is in the lower tier locally and has softened over the past five years, indicating the need for active leasing and retention strategies. At the same time, the neighborhood’s renter concentration is above the metro median, pointing to a meaningful tenant base for multifamily. Average household size is small, and within a 3-mile radius demographics skew toward smaller households—aligning with this property’s compact average unit size—supporting demand for studios and smaller one-bedrooms.
Within a 3-mile radius, the past five years show population contraction with roughly flat household counts; forward-looking projections indicate a modest increase in households by 2028, which would modestly expand the renter pool and support occupancy stability. These dynamics favor durable workforce housing but call for disciplined leasing management.
Ownership remains comparatively accessible in the area (elevated national ranking for home value affordability), which can create competition for renters considering entry-level ownership. However, rents benchmark as relatively affordable versus local incomes (low rent-to-income ratios), a factor that can aid lease retention even if pricing power is moderate. Based on CRE market data from WDSuite, the amenity set is serviceable, and demand is more heavily influenced by value, convenience, and unit practicality than by lifestyle features.
Safety indicators are mixed but improving. Nationally, the neighborhood sits modestly above average for safety, and recent trends show notable year-over-year declines in both property and violent offense rates. Within the Lima metro context, the area ranks around the middle of the pack among 45 neighborhoods, suggesting performance that is neither an outlier for risk nor for safety.
For investors, the directional improvement supports leasing narratives and tenant retention efforts, while mid-pack metro standing argues for standard risk controls rather than extraordinary measures. As always, underwriting should consider property-level security measures and ongoing monitoring of local trends.
This 106-unit asset offers small-format efficiency that lines up with the area’s smaller household sizes and workforce profile. Neighborhood renter concentration sits above the metro median, providing depth to the tenant base, while rents remain comparatively affordable relative to local incomes—favorable for retention, though it can temper near-term pricing power. Neighborhood occupancy trends are softer and call for hands-on lease management and targeted value-add to sharpen competitiveness.
According to CRE market data from WDSuite, amenities are adequate and day-to-day services are accessible, but leasing success is more likely to hinge on value, maintenance, and convenience than on premium lifestyle features. Forward-looking household projections within 3 miles point to a modestly larger renter pool by 2028, supporting a steady, operations-focused thesis rather than a momentum-driven play.
- Small-unit profile matches local household sizes, aiding absorption and retention
- Renter concentration above the metro median supports a durable tenant base
- Affordable rents versus incomes favor renewal rates and stabilize cash flow
- Operations-first plan: targeted turns and leasing focus to offset softer neighborhood occupancy
- Risk: accessible ownership options limit pricing power; success depends on value and upkeep