| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 19th | Poor |
| Demographics | 42nd | Fair |
| Amenities | 26th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1 Gould Park Rd, Bridgeport, OH, 43912, US |
| Region / Metro | Bridgeport |
| Year of Construction | 1977 |
| Units | 52 |
| Transaction Date | 1999-12-21 |
| Transaction Price | $1,051,800 |
| Buyer | BRIDGEPORT MANOR SENIOR HOUSING LIMITE |
| Seller | NATIONAL CHURCH RESIDENCE OF BRIDGEPORT |
1 Gould Park Rd Bridgeport, OH Multifamily Opportunity
Positioned for workforce renters in a rural submarket where rents remain manageable relative to incomes, according to WDSuite’s CRE market data. The thesis centers on steady tenant retention potential with selective value-add to enhance competitiveness.
Bridgeport’s neighborhood setting is Rural with an overall B rating and ranks 38 out of 79 metro neighborhoods — above the metro median for general livability, based on CRE market data from WDSuite. Neighborhood occupancy is measured for the neighborhood (not this property) and sits below metro norms, pointing to leasing execution as a key focus for operators.
Daily needs are present but limited: pharmacy access is competitive nationally while grocery options are moderate, and broader amenities track below national averages. Within the metro, amenity access ranks 21 of 79 — competitive among Wheeling neighborhoods — but nationally it falls into lower percentiles, so on-site conveniences and unit finishes can be meaningful differentiators.
Vintage context matters: the property was built in 1977, notably newer than the neighborhood’s older housing stock (average 1942). That relative age helps versus pre-war product, while investors should still plan for ongoing system updates and targeted renovations to sustain positioning.
Tenure and demand: within a 3-mile radius, roughly four in ten housing units are renter-occupied, providing a workable tenant base for small to mid-size multifamily assets. Neighborhood-level ownership costs are comparatively accessible, which can create competition with entry-level ownership; however, rent-to-income metrics indicate manageable resident outlays, supporting lease retention more than outsized pricing power.
Demographics within 3 miles show recent population and household contraction, but forecasts point to more, smaller households over the next five years, which can expand the renter pool and support occupancy stability if product is well maintained and priced appropriately.
Safety signals are mixed and should be contextualized at the neighborhood level (not the property). The neighborhood’s crime rank is 45 out of 79 in the Wheeling metro, which is below the metro average. Nationally, violent offense indicators are around the midpoint, while property offenses track slightly better than national averages; overall crime sits below the national midpoint. Trend monitoring and standard security practices remain prudent underwriting considerations.
Regional employment nodes within commuting reach provide supplemental demand for renters seeking value-oriented housing. The employers listed below reflect nearby corporate presence relevant to workforce renters.
- Dick's Sporting Goods — retail HQ (39.6 miles) — HQ
This 52-unit asset built in 1977 is relatively newer than the neighborhood’s older housing base, creating a practical platform for value-add and system upgrades to outperform older competing stock. Neighborhood occupancy is measured for the neighborhood and trails metro norms, so the case hinges on hands-on leasing, competitive pricing, and targeted renovations to capture a stable, value-seeking renter segment. According to WDSuite’s commercial real estate analysis, rent levels remain manageable relative to incomes, supporting retention even if near-term rent growth is measured.
Within a 3-mile radius, renter concentration offers a sufficient tenant pool, and forward-looking projections indicate more, smaller households and rising incomes — dynamics that can support sustained demand for well-managed units. Ownership remains comparatively accessible in this market, which can limit pricing power, but it also underscores the role of clean, efficient rentals as a durable housing option.
- 1977 vintage is newer than much of the local stock, offering renovation and repositioning upside.
- Manageable rents versus incomes support tenant retention and steady cash flow potential.
- 3-mile forecasts suggest more, smaller households and income gains, supporting renter demand.
- Hands-on leasing needed given neighborhood occupancy trends; competition from entry-level ownership may temper rent growth.