| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 29th | Good |
| Demographics | 37th | Fair |
| Amenities | 9th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 301 Virginia St, Bethesda, OH, 43719, US |
| Region / Metro | Bethesda |
| Year of Construction | 1979 |
| Units | 42 |
| Transaction Date | 2006-12-27 |
| Transaction Price | $817,700 |
| Buyer | ABBYS CROSSING LP |
| Seller | BETHESDA LTD |
301 Virginia St, Bethesda OH Multifamily Opportunity
Neighborhood occupancy has trended higher with a modest renter base, supporting stable leasing conditions according to WDSuite’s CRE market data. Positioning focuses on workforce demand and value retention rather than rapid rent growth.
Bethesda sits in the Wheeling, WV-OH metro and scores C+ overall. Amenities are limited at the neighborhood scale, yet grocery access is relatively competitive among Wheeling neighborhoods (ranked 15 out of 79), while cafes, restaurants, parks, and pharmacies are sparse. This tends to favor properties that meet day‑to‑day needs on-site and rely on short drives for services.
The neighborhood’s occupancy rate has improved over the past five years and sits above the metro median (ranked 37 out of 79). For investors, that translates into a demand backdrop that can support steady collections, even if rent growth is measured. Median contract rents in the neighborhood remain on the lower end relative to national peers, which can aid retention but limits near-term pricing power without upgrades.
Vintage context matters: the property was built in 1979, newer than the neighborhood’s average 1956 construction year. That positioning is competitive versus older local stock, with potential to capture demand through targeted modernization of interiors and systems as warranted by due diligence.
Within a 3-mile radius, recent data shows a slight population dip alongside essentially flat household counts, with forecasts indicating more households even as average household size trends lower. For multifamily, more households with smaller sizes can modestly expand the tenant base and support occupancy stability over time.
Ownership costs in the area are comparatively manageable, and the neighborhood’s rent-to-income ratio is low. This creates a market where resident retention is achievable but where homeownership can compete for some households—implying that leasing strategy and value-add differentiation are important to sustain pricing and reduce turnover.
Relative to the Wheeling metro, this neighborhood ranks near the safer end (crime rank 2 out of 79 neighborhoods). Nationally, it scores in the higher safety percentiles, indicating stronger safety performance compared with many U.S. neighborhoods.
Recent trends are favorable: estimated violent and property offense rates have declined year over year, placing the area in the top quartile nationally for improvement as well as overall safety. Investors should still underwrite to standard risk controls and property-level security, but the broader trend supports resident retention and leasing stability.
This 42-unit property’s 1979 vintage is newer than the neighborhood average, offering competitive positioning versus older local stock while leaving room for selective renovations to drive rent premiums. The neighborhood’s occupancy has improved and is above the metro median, supporting steady collections; according to CRE market data from WDSuite, local rents are relatively low versus national peers, which favors retention but may temper outsized rent growth without upgrades.
Within a 3-mile radius, households are essentially stable with projections for additional household growth even as average household size contracts—an investor-friendly setup that can modestly expand the renter pool and support occupancy stability. The area’s high-cost ownership pressures are limited, so homeownership can compete; operators should emphasize convenience, refreshed finishes, and professional management to sustain demand against single-family alternatives.
- Neighborhood occupancy above the metro median provides a supportive backdrop for collections.
- 1979 construction is newer than local averages, with value‑add and modernization potential.
- Lower rent levels versus national peers aid retention; targeted upgrades can unlock pricing power.
- 3‑mile household growth and smaller household sizes point to incremental renter pool expansion.
- Risks: limited neighborhood amenities and accessible ownership options require strong leasing strategy.