| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 53rd | Fair |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5905 Dixie Hwy, Fairfield, OH, 45014, US |
| Region / Metro | Fairfield |
| Year of Construction | 1975 |
| Units | 36 |
| Transaction Date | 1996-01-02 |
| Transaction Price | $17,500,000 |
| Buyer | FATH VILLAGE PARK APARTMENTS LLC |
| Seller | THE PRUDENTIAL INS CO OF AMERICA |
5905 Dixie Hwy Fairfield Multifamily Value-Add Opportunity
Neighborhood occupancy is high and renter concentration is deep, supporting stable leasing fundamentals for this asset, according to WDSuite’s CRE market data. Positioning a 1975-vintage, 36-unit property for targeted renovations can capture demand without relying on outsized rent growth.
Set in Fairfield within the Cincinnati metro, the neighborhood is rated A and ranks 35th out of 611 metro neighborhoods—competitive among Cincinnati neighborhoods based on WDSuite’s market view. Neighborhood occupancy is strong at the area level, with rates in the top quartile nationally, indicating healthy tenant retention and limited downtime between turns.
Livability drivers are balanced: restaurants, parks, pharmacies, and cafes benchmark above national averages (mid‑60s to low‑70s percentiles), which supports day‑to‑day convenience for residents and aids leasing. Average school ratings trend below national midline, which can modestly narrow the family renter segment; operators often offset this with unit finish, in‑unit amenities, or value pricing.
Tenure dynamics favor multifamily: the neighborhood shows a renter‑occupied concentration near 68%, indicating a broad local tenant base and demand resilience through cycles. Median rent levels track around the U.S. mid‑range, while the neighborhood rent‑to‑income ratio of roughly 0.22 suggests manageable affordability pressure, supportive of lease renewal strategies rather than aggressive turnover.
Within a 3‑mile radius, demographics point to steady population growth historically and an expected increase in households ahead, alongside a slight decline in average household size. This combination typically expands the renter pool and supports occupancy stability. Income growth in the surrounding area has been solid, which can sustain modest rent steps where unit quality and property management execution are strong.
Vintage relative positioning matters: with a 1975 construction year versus a neighborhood average around the late 1980s, investors should underwrite capex for systems and finishes. The upside is clear value‑add potential to compete against newer stock while maintaining a rent position that preserves pricing power across a broad renter cohort.
Neighborhood safety indicators benchmark close to national mid‑pack overall, with Cincinnati‑area ranks that are competitive among 611 metro neighborhoods. Recent trends show year‑over‑year decreases in both property and violent offense estimates, which is constructive for long‑term leasing stability and perception.
For CRE underwriting, this translates into neutral baseline assumptions with a cautiously positive trend. Operators can emphasize lighting, access controls, and community engagement to further support retention and resident satisfaction as the area’s comparative position continues to improve.
Proximity to established employers underpins workforce housing demand and commute convenience for residents. Nearby corporate offices span utilities, insurance/financial services, and healthcare operations as outlined below.
- Duke Energy — utilities (1.4 miles)
- Cincinnati Financial — insurance (1.5 miles) — HQ
- Humana Pharmacy Solutions — healthcare services (4.7 miles)
- AK Steel Holding — steel manufacturing offices (4.7 miles) — HQ
- Prudential Financial — financial services (6.0 miles)
The asset’s location benefits from high neighborhood occupancy and a renter‑heavy local housing mix, supporting depth of demand and lease‑up consistency. With a 1975 vintage relative to a late‑1980s neighborhood average, underwriting should include capital for systems, common areas, and in‑unit updates—positioning for value‑add gains against younger stock while preserving a competitive rent basis. According to CRE market data from WDSuite, area rents sit around the national mid‑range and the rent‑to‑income context indicates manageable affordability pressure, which can favor renewals over frequent turns.
Within a 3‑mile radius, steady population growth and an expected increase in households, alongside slightly smaller household sizes, point to a larger renter pool over the medium term. Combined with proximity to diverse employers, these trends support occupancy stability and measured rent progression when paired with disciplined operations.
- Strong neighborhood occupancy and renter concentration support steady demand at the area level
- 1975 vintage offers clear value‑add levers (systems, interiors, curb appeal) to enhance competitive positioning
- 3‑mile demographics indicate renter pool expansion, aiding retention and lease‑up consistency
- Proximity to diverse employers supports workforce housing demand and reduces commute frictions
- Risks: older building systems and below‑average school ratings require thoughtful capex and positioning