| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 19th | Poor |
| Demographics | 42nd | Fair |
| Amenities | 26th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 54385 National Rd, Bridgeport, OH, 43912, US |
| Region / Metro | Bridgeport |
| Year of Construction | 1992 |
| Units | 56 |
| Transaction Date | 1991-08-30 |
| Transaction Price | $75,000 |
| Buyer | LUTHERAN SOCIAL SERVICES OF CENTRAL OHIO |
| Seller | --- |
54385 National Rd, Bridgeport OH Multifamily Investment
Newer vintage for the submarket and accessible rents indicate durable renter demand, according to WDSuite’s CRE market data, with pricing supported by a high-cost ownership context relative to local incomes.
Bridgeport sits within the Wheeling, WV-OH metro and earns a B neighborhood rating. The property s 1992 construction is materially newer than the area s older housing stock (average build year 1942), which positions it competitively versus nearby inventory while still warranting planning for system updates typical of early-1990s assets.
Local livability is modest but serviceable for workforce renters. Pharmacies are comparatively accessible (ranked 14 of 79 metro neighborhoods; around the 63rd percentile nationally), with restaurants reasonably present (ranked 20 of 79; ~53rd percentile). Grocery access is middling (23 of 79; ~40th percentile), while parks, cafes, and childcare are sparse within the neighborhood cluster. Average school ratings are competitive among Wheeling neighborhoods (23 of 79; near the national middle), supporting family-oriented retention within the broader submarket.
From an operations lens, the neighborhood occupancy rate trends below the metro median (ranked 59 of 79), suggesting leasing may require sharper management and value positioning. However, renter-occupied housing makes up roughly the upper-20s share of units locally, indicating a defined tenant base for multifamily. Median contract rents sit at the low end for the metro, and a rent-to-income ratio near the low teens supports retention and reduces affordability pressure, which can aid collections stability.
Demographics within a 3-mile radius show a slight population dip alongside essentially flat household counts in recent years, implying smaller household sizes rather than demand loss. Forward-looking projections point to income growth and an uptick in renter concentration, which can expand the tenant pool and support occupancy in well-maintained properties. These trends, based on commercial real estate analysis from WDSuite, align with a value-oriented leasing strategy.
Safety indicators for the neighborhood are mixed in a regional context. Property offense rates sit modestly better than the national middle (around the 55th percentile nationwide), while violent offense measures track close to the national median (about the 50th percentile), according to WDSuite s CRE market data.
Within the Wheeling metro, the neighborhood s crime rank falls in the middle of 79 neighborhoods, rather than in top-tier positions. One-year changes show some recent uptick in reported offenses relative to national peers, suggesting managers should maintain standard security measures and monitor local trends over the hold period.
Regional employment is diversified, with commuting access to larger corporate hubs supporting workforce housing demand. Notable nearby employer exposure includes the following within driving distance.
- Dick's Sporting Goods — sporting goods retail (41.5 miles) — HQ
This 56-unit asset s 1992 vintage is newer than much of the surrounding housing stock, offering relative competitiveness versus older properties while leaving room for targeted capital projects to modernize systems and finishes. Neighborhood occupancy trends sit below the metro median, but low rent-to-income levels and a defined renter base can support collections and retention with value-oriented positioning. According to CRE market data from WDSuite, amenity access is functional (pharmacies and restaurants) though not dense, favoring assets that deliver on-site convenience and operational consistency.
Within a 3-mile radius, recent population softness has been accompanied by steadier household counts and rising incomes, pointing to smaller households and potential renter pool expansion. Forecasts indicate higher renter concentration and income growth, a backdrop that can sustain demand for well-managed, competitively priced units over a long-term hold.
- Newer-than-neighborhood vintage (1992) supports competitive positioning versus older local stock
- Value-oriented rents and low rent-to-income bolster retention and collections stability
- 3-mile household/income trends and projected renter concentration support long-run demand
- Operational upside via targeted renovations and on-site convenience to offset limited neighborhood amenities
- Risks: below-metro occupancy, sparse parks/cafes/childcare, and recent safety trend volatility warrant active management