| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Poor |
| Demographics | 46th | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9001 Airport Rd, Georgetown, OH, 45121, US |
| Region / Metro | Georgetown |
| Year of Construction | 1981 |
| Units | 61 |
| Transaction Date | 2003-12-12 |
| Transaction Price | $1,500,000 |
| Buyer | HPWFP III LP |
| Seller | FOREST GLADE ASSOCIATES LTD |
9001 Airport Rd Georgetown OH 61-Unit Multifamily
Neighborhood occupancy trends hover near the national median, and low rent-to-income levels point to solid lease retention, according to WDSuite s commercial real estate analysis. Rural fundamentals suggest steadier, value-driven tenancy rather than rapid rent growth.
This rural pocket of the Cincinnati metro skews car-dependent with limited nearby amenity density, so on-site conveniences and functional unit layouts matter for day-to-day livability. Based on CRE market data from WDSuite, neighborhood occupancy sits near the national median, indicating generally steady leasing but not outsized tightness. With a 1981 vintage, the property is modestly older than the neighborhood average (mid-1980s), signaling practical capital planning for systems refresh and value-add upgrades to remain competitive.
Within a 3-mile radius, roughly one-third of housing units are renter-occupied, which supports a workable tenant base for a 61-unit asset while still reflecting a market with meaningful owner presence. That tenure mix typically favors stable demand for well-managed workforce housing, though it can temper pricing power during lease-up compared to renter-heavy urban submarkets.
Home values in the area trend below national norms, which can make ownership comparatively accessible. For multifamily investors, that dynamic can translate into measured rent growth expectations and a focus on retention through service quality and unit modernization rather than aggressive rate push. Neighborhood rent-to-income levels are low, reinforcing affordability and supporting lease stability, but also suggesting disciplined revenue management rather than large step-ups.
Demographic statistics aggregated within a 3-mile radius show recent population roughly flat and households increasing, pointing to smaller household sizes and a gradual expansion of the renter pool. Forward-looking projections indicate households continuing to rise even as population is expected to contract, reinforcing demand for practical floor plans and smaller units while underscoring the importance of competitive positioning and asset-specific amenities in a low-amenity, rural setting.
Safety indicators benchmark favorably: the neighborhood scores in the top quartile nationally on WDSuite s crime percentiles, suggesting comparatively lower incident rates than many U.S. neighborhoods. Recent estimates also show double-digit declines in both property and violent offenses year over year, indicating improving conditions. As always, investors should evaluate submarket and corridor-level patterns when underwriting, but the directional trend supports tenant retention and leasing stability.
The property draws from the broader Cincinnati employment base, with access to major headquarters and corporate offices that support workforce housing demand and commuter flexibility. Notable employers within commuting reach include Duke Energy, Western & Southern Financial Group, Procter & Gamble, American Financial Group, and Kroger corporate offices.
- Duke Energy energy & utilities (35.7 miles)
- Western & Southern Financial Group financial services (36.5 miles) HQ
- Procter & Gamble consumer goods (36.5 miles) HQ
- American Financial Group insurance (36.5 miles) HQ
- Kroger DCIC corporate offices (36.6 miles)
Constructed in 1981 with 61 units, this asset offers practical value-add potential in a rural setting where occupancy trends run near national medians and rent-to-income levels are low. According to CRE market data from WDSuite, the neighborhood s affordability supports retention, while the older vintage suggests targeted renovations can enhance competitiveness against the mid-1980s peer set.
Within a 3-mile radius, households have been increasing and are projected to continue rising as household sizes decline, expanding the renter pool for smaller, functional floor plans. At the same time, comparatively accessible ownership and limited nearby amenities argue for disciplined rent growth assumptions and an operating plan focused on service quality, unit upgrades, and tenant longevity.
- 1981 vintage positions the asset for targeted value-add and systems modernization.
- Occupancy near national medians with low rent-to-income supports retention-focused operations.
- 3-mile household growth and smaller household sizes expand the renter pool for practical unit mixes.
- Proximity to major Cincinnati employers provides a broad commuter-driven demand base.
- Risks: rural amenity scarcity, competition from accessible homeownership, and cautious rent growth expectations.