| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 28th | Fair |
| Demographics | 35th | Fair |
| Amenities | 18th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 104 Lexington Ave, Chauncey, OH, 45719, US |
| Region / Metro | Chauncey |
| Year of Construction | 1997 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
104 Lexington Ave, Chauncey OH Multifamily Investment
Neighborhood occupancy is competitive for the Athens metro and renter demand is supported by a moderate renter-occupied base, according to WDSuite’s CRE market data. This positions the asset for steady leasing while investors manage pricing and retention in a rural setting.
Chauncey is a rural neighborhood in Athens County with a B- neighborhood rating, offering a quieter setting relative to the metro while maintaining access to basic conveniences. Park access scores competitively (ranked 6th among 31 Athens neighborhoods; above the national median), and grocery availability is mid-pack locally (8th of 31; near national mid-range), though cafes, restaurants, and pharmacies are sparse. For investors, this means residents may value on-site functionality and parking over walkable retail.
Neighborhood occupancy is competitive among Athens neighborhoods (ranked 8th of 31) and around the national middle, with improvement over the past five years. The share of renter-occupied housing in the neighborhood is 30.4%, indicating a modest but durable tenant base for multifamily demand. With the property built in 1997 versus a neighborhood average vintage closer to the mid-1900s, the asset is newer than much of the local stock—supporting relative competitiveness while still warranting planning for system updates and modernization where needed.
Within a 3-mile radius, population has edged down over five years while household counts have increased, pointing to smaller household sizes and a broader base of one- and two-person households—conditions that can support demand for efficient units and reinforce occupancy stability. Median contract rents in the 3-mile area remain accessible and have risen over the last five years, which can aid tenant retention while still leaving room for measured rent growth.
Home values in the neighborhood are lower than many U.S. areas, which can introduce some competition from ownership options. Still, a rent-to-income profile near the national midpoint and rising household incomes (within 3 miles) suggest manageable affordability pressure—supporting lease stability when paired with prudent renewal strategies.
Safety indicators compare favorably at the national level, with the neighborhood’s overall crime profile testing stronger than many U.S. neighborhoods (around the top quartile nationally). Recent trend data show year-over-year declines in both property and violent offenses, reinforcing a positive directional picture rather than a one-off reading.
Within the Athens metro context (31 neighborhoods), the area performs around the metro middle on composite measures, and national percentiles indicate a comparatively safer profile than most neighborhoods nationwide. For investors, this backdrop can support resident retention and leasing continuity, while still warranting standard property-level security and lighting practices.
Regional employment access is driven by established industrial and distribution employers, supporting workforce housing demand for residents commuting to nearby hubs. The list below highlights two notable nodes with commuting relevance: General Mills and the AutoZone Distribution Center.
- General Mills — food manufacturing (30.9 miles)
- Autozone Distribution Center — distribution & logistics (41.6 miles)
This 32-unit, 1997-built property offers a newer vintage relative to much of the neighborhood’s older housing stock, supporting competitive positioning with potential to capture steady occupancy. According to CRE market data from WDSuite, neighborhood occupancy is competitive in the Athens metro, and the local renter-occupied share provides a meaningful tenant base. Within a 3-mile radius, household counts have grown even as population edged down, indicating smaller household sizes that can favor efficient floor plans like the property’s smaller-average units—supporting lease-up and renewal prospects with prudent pricing.
Rents in the surrounding area remain accessible, reinforcing retention and measured growth, while rising household incomes (3-mile radius) provide some cushion to affordability pressure. The rural setting comes with lean amenity density and relatively low home values, which can introduce competition from ownership and constrain near-term pricing power. Active asset management—targeted renovations, resident services, and renewal strategies—can help sustain performance and mitigate these risks.
- 1997 vintage is newer than local stock, offering relative competitiveness with targeted modernization as needed.
- Competitive neighborhood occupancy and a moderate renter-occupied base support leasing stability.
- 3-mile household growth and smaller household sizes align with demand for efficient units, aiding retention.
- Accessible local rents and rising incomes support measured rent growth and renewal strategies.
- Risks: lean amenity density, lower-cost ownership options, and rural location may temper pricing power.