| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 57th | Good |
| Amenities | 35th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5109 Pleasant Ave, Fairfield, OH, 45014, US |
| Region / Metro | Fairfield |
| Year of Construction | 1972 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5109 Pleasant Ave, Fairfield OH: 40-Unit Value-Add Multifamily
Positioned in an inner-suburb corridor with steady neighborhood occupancy and a durable renter base, this asset offers operational stability with renovation upside, according to WDSuite’s CRE market data. The location’s everyday amenities support lease retention while pricing remains competitive relative to the broader Cincinnati metro.
The property sits in Fairfield’s Inner Suburb fabric within the Cincinnati, OH-KY-IN metro, where the neighborhood carries a B rating and ranks 235 out of 611 metro neighborhoods. Neighborhood occupancy trends are near the national midpoint and have improved over the past five years, supporting income stability for professionally managed multifamily.
Livability leans toward daily convenience: grocery and pharmacy access ranks above national norms, while restaurants are roughly middle-of-the-pack. By contrast, cafes, parks, and childcare options are thinner within the immediate neighborhood. For investors, this mix suggests reliable day-to-day services that aid retention, with fewer lifestyle-driven amenities that typically push Class A premiums.
The local housing stock skews slightly older than the neighborhood average construction year (subject asset built in 1972 versus a neighborhood average near the mid-1970s). For investors, that vintage often pairs with value-add potential through exterior/interior upgrades and targeted systems modernization to sharpen competitive positioning against newer product.
Tenure patterns indicate meaningful rental demand: the neighborhood’s share of renter-occupied housing is higher than many peers in the region, and within a 3-mile radius, roughly one-third of units are renter-occupied. This depth of the tenant base helps support leasing velocity and occupancy resilience. Home values in the area remain moderate for the region, which, combined with rent-to-income ratios near the national low end, points to manageable affordability pressure and potential lease retention advantages, though more accessible ownership options can introduce some competitive tension for mid-priced product.
Demographics aggregated within a 3-mile radius show modest population growth in recent years with projections calling for further population and household increases. This implies a gradually expanding renter pool that can reinforce occupancy stability and support measured rent growth, based on CRE market data from WDSuite.
Safety indicators sit around the national midpoint, with the neighborhood’s crime profile roughly average compared to U.S. neighborhoods. Within the Cincinnati metro, the crime rank is 201 out of 611 neighborhoods, indicating incident levels higher than the metro median. Recent trend data show property offenses declining over the past year, while violent offense estimates have been relatively stable. Investors should underwrite standard security measures and tenant-screening protocols consistent with inner-suburban assets.
Nearby employment anchors span utilities, insurance, steel manufacturing, pharmacy services, and financial services, supporting a diversified workforce renter base and commute convenience for residents.
- Duke Energy — utilities (1.2 miles)
- Cincinnati Financial — insurance (3.0 miles) — HQ
- AK Steel Holding — steel manufacturing (7.3 miles) — HQ
- Humana Pharmacy Solutions — pharmacy services (7.3 miles)
- Prudential Financial — financial services (8.4 miles)
This 40-unit, 1972-vintage asset offers a practical value-add path in an inner-suburban location with steady renter demand. Neighborhood occupancy sits slightly above national norms and has improved in recent years, supporting cash flow durability, while home values and rent-to-income readings suggest manageable affordability pressure that can aid resident retention. According to CRE market data from WDSuite, everyday retail access is solid (groceries, pharmacies), although lifestyle amenities are thinner, aligning the asset with workforce housing demand rather than top-tier premium positioning.
Renovation scope focused on interiors and building systems can lift relative competitiveness versus older nearby stock, while proximity to diversified employers underpins leasing. Key risks include safety indicators that trail the metro median and potential competition from accessible homeownership options; underwriting should reflect prudent turns, realistic rent premiums, and standard security/operations protocols.
- Value-add potential on a 1972 asset to improve unit finishes and systems
- Neighborhood occupancy near-to-above national norms with improving trend supports income stability
- Diversified nearby employers bolster workforce renter demand and lease retention
- Everyday amenities (groceries, pharmacies) favor resident convenience and renewals
- Risks: safety below metro median and competition from ownership options warrant conservative underwriting