| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Good |
| Demographics | 47th | Good |
| Amenities | 8th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 435 S Lincoln Ave, Barnesville, OH, 43713, US |
| Region / Metro | Barnesville |
| Year of Construction | 1977 |
| Units | 60 |
| Transaction Date | 2023-09-11 |
| Transaction Price | $1,866,666 |
| Buyer | BARNESVILLE COMMONS LLC |
| Seller | BARNESVILLE LTD |
435 S Lincoln Ave Barnesville Multifamily Investment
Neighborhood occupancy trends appear steady, supporting lease stability for a 60-unit asset, according to WDSuite’s CRE market data. Renter-occupied housing is a minority locally, suggesting a thinner but durable tenant base for workforce-oriented units.
Barnesville sits within the Wheeling, WV-OH metro and reads as a rural neighborhood with livability anchored by small-town services rather than dense retail. Amenity access is modest by national standards (amenities score in a lower national percentile), so residents rely on core conveniences and regional draws, which typically supports car-dependent living and longer retail commute patterns.
On housing fundamentals, neighborhood occupancy is competitive among Wheeling neighborhoods (31 out of 79 overall with a B rating), and rents benchmark on the lower side locally. That combination tends to support stable tenancy and measured renewal capture for value-focused product. With a renter-occupied share near one-quarter of units, the renter concentration signals a smaller but durable tenant pool, which can translate to consistent leasing for well-managed multifamily.
Within a 3-mile radius, demographic patterns indicate modest population growth in recent years and projections point to more households ahead, implying a gradually larger tenant base. Household incomes have risen, and forecast data show continued income gains, which can underpin rent collections even where headline rents remain comparatively accessible.
Home values are lower than many U.S. markets, and rent-to-income levels suggest limited affordability pressure on tenants. For investors, this typically supports retention and reduces delinquency risk, though relatively accessible ownership options can temper near-term pricing power and favor a value-oriented positioning strategy.
Safety indicators compare favorably at the national level: violent offense levels are in the top decile nationally, and property offenses trend in the upper quartile versus neighborhoods nationwide. In practical terms, this supports resident retention and reduces operational friction relative to many U.S. submarkets.
Against the Wheeling metro, however, overall crime ranks below the metro average (14th relative to 79 neighborhoods indicates higher reported activity within the region). Investors should underwrite standard security measures and lighting/visibility, while noting the supportive national context.
This 60-unit Barnesville property aligns with a value-focused strategy: neighborhood occupancy is competitive among Wheeling neighborhoods and rents remain accessible, supporting leasing continuity and renewal capture without overextending tenants. Based on CRE market data from WDSuite, the surrounding area’s renter-occupied share is smaller than owner-occupied stock, pointing to a thinner but steady tenant base where well-managed operations can hold occupancy.
Within a 3-mile radius, recent population gains and a projected increase in households suggest gradual renter pool expansion, which can reinforce occupancy stability. Lower home values by national comparison and a favorable rent-to-income profile support collections and retention, though they may limit outsized pricing power; investors may find the clearest upside through operational efficiency and targeted unit and common-area updates rather than aggressive rent lifts.
- Competitive neighborhood occupancy supports leasing stability and renewals
- Rents positioned for value-focused demand with healthy rent-to-income dynamics
- 3-mile demographic trends point to a growing household base and larger renter pool
- Potential upside via operational improvements and targeted refreshes over aggressive rent growth
- Risk: accessible ownership options may moderate pricing power; underwrite conservative rent growth