| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Poor |
| Demographics | 37th | Poor |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 622 E State St, Georgetown, OH, 45121, US |
| Region / Metro | Georgetown |
| Year of Construction | 2007 |
| Units | 30 |
| Transaction Date | 2005-11-10 |
| Transaction Price | $250,000 |
| Buyer | ABCAP BROWN COUNTY HOUSING LLC |
| Seller | BROWN COUNTY RURAL WATER ASSN INC |
622 E State St Georgetown OH Multifamily Investment
2007-built, 30-unit asset positioned in a rural Cincinnati metro edge location where neighborhood occupancy has trended steady and rents sit below metro norms, based on CRE market data from WDSuite.
Georgetown is a rural node within the Cincinnati, OH-KY-IN metro with a C+ neighborhood rating. Local amenities are modest by national standards, though grocery, pharmacy, and park access land near the national middle, while cafes and childcare are sparse. For operators, this typically points to a value-focused renter profile rather than amenity-driven leasing.
The average vintage in the neighborhood skews older (1959), and a 2007 construction date offers a relative competitive edge versus much of the local housing stock. That positioning can reduce near-term capital needs and support leasing versus older comparables, while still leaving room for targeted modernization as systems age.
Neighborhood occupancy has improved over the last five years and sits below the metro median, signaling stable but price-sensitive demand. Renter-occupied housing is a meaningful share of the local unit base, indicating a defined tenant pool for small to mid-sized multifamily assets. According to WDSuite’s commercial real estate analysis, rent-to-income in the neighborhood is favorable, which can aid retention and measured pricing decisions.
Within a 3-mile radius, demographics show a declining population alongside growth in total households, reflecting smaller household sizes. Forward-looking projections indicate further household growth with continued downsizing, which expands the effective renter base and can support occupancy stability, even as overall population trends soften.
Home values in the area are comparatively low versus national benchmarks, which can create some competition from ownership options. For multifamily investors, this underscores the importance of value-driven finishes and disciplined rent positioning to sustain leasing velocity and renewal rates.
Safety indicators for the neighborhood sit slightly above the national median, suggesting comparatively favorable conditions versus many U.S. neighborhoods. Relative to Cincinnati metro peers, results appear mixed, so underwriting should prioritize property-level controls and customary operating practices rather than relying solely on area averages.
Recent trend signals are nuanced: violent-offense estimates improved year over year, while property-related incidents showed a modest uptick. For investors, this combination argues for standard preventative measures (lighting, access control, resident screening) and realistic expectations on operating costs, rather than implying outsized risk.
Regional employment is anchored by major Cincinnati headquarters within commuting range, including Duke Energy, American Financial Group, Procter & Gamble, Western & Southern Financial Group, and Fifth Third Bancorp, supporting a stable workforce draw for value-oriented rentals.
- Duke Energy — utilities (35.9 miles)
- American Financial Group — financial services (36.8 miles) — HQ
- Procter & Gamble — consumer goods (36.8 miles) — HQ
- Western & Southern Financial Group — financial services (36.8 miles) — HQ
- Fifth Third Bancorp — banking (37.1 miles) — HQ
Built in 2007, this 30-unit property is newer than much of the surrounding stock, which can enhance competitive positioning versus older rentals and temper near-term capital needs. According to CRE market data from WDSuite, the neighborhood shows stable occupancy and favorable rent-to-income dynamics, supporting retention and disciplined rent steps in a value-oriented setting.
Demand is supported by a defined renter base locally and, within a 3-mile radius, an expanding household count despite softer population trends—indicating smaller household sizes and a gradually widening tenant pool. Operators should weigh rural location and limited amenity depth, along with more accessible ownership costs, which can introduce competition and call for careful finish-level and pricing strategy.
- 2007 vintage offers competitive positioning versus older neighborhood stock with potential for selective modernization
- Stable neighborhood occupancy and favorable rent-to-income support retention and measured rent growth
- 3-mile radius shows household growth and smaller household sizes, expanding the effective renter pool
- Access to major Cincinnati employment hubs within driving range supports leasing depth
- Risks: rural location, limited local amenities, and comparatively accessible ownership options may temper pricing power