| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Good |
| Demographics | 27th | Poor |
| Amenities | 12th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 803 S Mount Vernon Ave, Loudonville, OH, 44842, US |
| Region / Metro | Loudonville |
| Year of Construction | 1979 |
| Units | 40 |
| Transaction Date | 2002-04-26 |
| Transaction Price | $1,000,000 |
| Buyer | --- |
| Seller | --- |
803 S Mount Vernon Ave Loudonville Multifamily Investment
Neighborhood occupancy trends are above the metro median and rent burdens remain low, supporting retention and measured pricing power, according to WDSuite’s CRE market data. These are neighborhood-level signals, not property performance, and suggest stable demand for a 40-unit asset in a rural setting.
Loudonville is a rural neighborhood with limited retail and service density, so most daily needs are car-reliant. Even so, neighborhood occupancy is above the metro median among 25 Ashland-area neighborhoods, a constructive sign for leasing stability at the submarket level rather than the property itself.
Renter-occupied share in the neighborhood is modest, with roughly one-quarter of housing units renter-occupied, indicating a smaller but steadier tenant base for multifamily. Within a 3-mile radius, renter concentration is closer to about three in ten units, which helps sustain demand depth for workforce-oriented product.
Within a 3-mile radius, recent population growth has been positive and is projected to expand further by 2028, pointing to a larger tenant base over the medium term. Median household incomes in this radius have been rising, while rent-to-income levels in the neighborhood remain low, reducing affordability pressure and supporting occupancy stability, based on WDSuite’s commercial real estate analysis for the region.
Home values in the neighborhood sit in a lower-cost ownership market context (median around $170,000). That can create some competition with ownership options, but it also supports lease retention for renters prioritizing more accessible monthly costs. For a 1979-vintage asset, value-focused positioning can be effective in this environment.
According to WDSuite’s CRE market data, the neighborhood ranks in the top quartile nationally for overall safety, indicating comparatively lower crime levels versus many U.S. neighborhoods. Recent trends show notable year-over-year declines in both property and violent offenses, reinforcing a constructive trajectory rather than a guarantee.
These are neighborhood-level comparisons and can vary by block and over time. Investors should view safety as a relative strength for the area within the broader Ashland region, while continuing standard risk management and on-site controls.
Regional employers in manufacturing and branded foods are within commuting distance, which can support workforce renter demand and lease retention for well-managed assets.
- International Paper Company — paper/products manufacturing (20.8 miles)
- J.M. Smucker — branded foods (29.5 miles) — HQ
Constructed in 1979, the property is slightly newer than the neighborhood’s average vintage, offering relative competitiveness versus older stock while still warranting selective system upgrades or common-area refreshes. Neighborhood occupancy is above the metro median and rent-to-income is low, suggesting room for disciplined rent growth without materially elevating retention risk, per WDSuite’s CRE market data.
Within a 3-mile radius, population is growing and is projected to expand further by 2028, pointing to a larger renter pool and support for occupancy stability. The neighborhood’s lower-cost ownership landscape may create some competition with home purchase, but it also underpins renter reliance on well-priced multifamily, particularly if operational execution and unit finishes align with value-focused demand.
- Above-metro-median neighborhood occupancy supports leasing stability
- Low rent-to-income indicates headroom for measured rent increases
- 1979 vintage offers value-add potential via targeted modernization
- Risks: rural amenity depth and a smaller renter base may temper velocity