| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Best |
| Demographics | 35th | Poor |
| Amenities | 38th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2 Hyde Park Dr, Mount Orab, OH, 45154, US |
| Region / Metro | Mount Orab |
| Year of Construction | 1972 |
| Units | 56 |
| Transaction Date | 2003-12-12 |
| Transaction Price | $578,280 |
| Buyer | HPWFP LP |
| Seller | HYDE PARK WEST LTD |
2 Hyde Park Dr Mount Orab Value-Add Multifamily
Neighborhood occupancy is around 95% with a renter-occupied share in the mid-30s, suggesting a stable tenant base, according to WDSuite’s CRE market data. The 1972 vintage points to potential renovation upside relative to newer nearby stock.
Mount Orab sits within the Cincinnati metro and rates B overall, positioned above the metro median (rank 281 of 611 neighborhoods). The submarket skews suburban with everyday conveniences like grocery and pharmacy access present, while parks and cafes are thinner locally. Average school ratings land near the middle of national peers, indicating serviceable but not standout education options.
From a rental fundamentals standpoint, neighborhood occupancy hovers near 95.2% (top quartile nationally), and the renter-occupied share is about 35.6%, which is elevated versus many U.S. neighborhoods. Median contract rents are lower than national norms, supporting leasing velocity and potential pricing power at attainable levels for workforce households.
Within a 3-mile radius, population and household counts have grown in recent years and are projected to expand further over the next five years, indicating a larger tenant base ahead. Median household incomes have trended upward, and rent levels have advanced from prior years while remaining comparatively accessible, an underpinning for retention and steady absorption.
The asset’s 1972 construction predates the neighborhood’s average vintage (late 1980s), signaling likely capital planning needs for systems and interiors, but also creating value-add potential to compete effectively against newer stock. Elevated home values for the area and a value-to-income profile that is higher than many U.S. neighborhoods reinforce continued reliance on rental housing, which can support occupancy stability and measured rent growth.
Based on WDSuite’s CRE market data, this neighborhood trends safer than a majority of neighborhoods nationwide, with safety indicators around the 70th percentile. Recent year-over-year declines in both violent and property offenses further support a constructive trajectory. As with any submarket, conditions can vary by block and over time, so investors should assess on-the-ground patterns alongside the metro context.
Regional employment anchors within commuting range help support renter demand, with proximity to healthcare, utilities, retail, and consumer products employers. Notable nearby employers include Anthem, Kroger, Humana, Duke Energy, and Procter & Gamble.
- Anthem Inc Mason Campus II — healthcare services (27.6 miles)
- Kroger DCIC — grocery/retail corporate (28.6 miles)
- Humana — healthcare insurance (31.1 miles)
- Duke Energy — utilities corporate (31.1 miles)
- Procter & Gamble — consumer products (31.3 miles) — HQ
This 56-unit, 1972-vintage asset presents a straightforward value-add thesis in a suburban Cincinnati neighborhood where occupancy is competitive nationally and renter concentration supports demand depth. According to CRE market data from WDSuite, neighborhood rents sit below national norms while homeownership costs trend higher than many U.S. neighborhoods, a combination that can sustain renter reliance and bolster leasing stability.
Demographic data aggregated within a 3-mile radius points to recent growth and a projected expansion of the local renter pool, creating a wider base of potential tenants over the next cycle. The older vintage implies interior and systems upgrades may be warranted; executed thoughtfully, this can improve relative positioning versus late-1980s and newer comparables while maintaining attainability.
- Competitive neighborhood occupancy with below-national rent levels supports leasing stability
- 3-mile radius shows recent and projected population and household growth, expanding the tenant base
- 1972 vintage offers value-add potential through targeted renovations and systems upgrades
- Risks: limited nearby amenity depth and longer commutes to major employers; capex needs typical of older assets