| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 50th | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3000 McGee Ave, Middletown, OH, 45044, US |
| Region / Metro | Middletown |
| Year of Construction | 1998 |
| Units | 61 |
| Transaction Date | 2013-09-10 |
| Transaction Price | $9,850,000 |
| Buyer | Capital Senior Living |
| Seller | Woodlands of Middletown |
3000 McGee Ave, Middletown OH Multifamily Positioning
Neighborhood occupancy is strong and has trended higher in recent years, suggesting stable renter demand at the submarket level, according to WDSuite s CRE market data. With mid‑vintage construction and a workforce orientation, the asset profile aligns with steady operations rather than speculative lease-up.
This suburban Middletown location sits within the Cincinnati metro and carries a neighborhood rating of C among 611 metro neighborhoods. Based on WDSuite s commercial real estate analysis, neighborhood occupancy is in the upper tier nationally and has improved over the last five years, a favorable indicator for collections and lease retention. Median rents in the immediate area trend on the lower side for the region, which can support leasing velocity while requiring disciplined renewal management.
The property s 1998 vintage is newer than the neighborhood s average construction year (1959), which generally provides a competitive edge versus older local stock. For investors, this implies more manageable near-term capital planning with targeted modernization rather than full repositioning, while still leaving room for selective value-add to capture rent steps.
Amenities within the immediate neighborhood are limited (few cafes, groceries, parks within close proximity), so residents typically rely on broader Middletown and northern Cincinnati corridors for services and employment. For multifamily investors, this dynamic emphasizes the importance of on-site conveniences and parking while leveraging proximity to regional employers for demand.
Within a 3-mile radius, demographics indicate a sizable renter base alongside household growth over the past five years, with forecasts through 2028 pointing to continued population growth and more households. This supports a larger tenant base and can help sustain occupancy, though a relatively accessible ownership market in Butler County may create competition at renewal for higher-earning households. Rent-to-income levels in the neighborhood are moderate, which helps mitigate affordability pressure and can aid retention.
Comparable crime data for this neighborhood is not available in WDSuite for the most recent release, so investors should benchmark safety using broader Middletown and Cincinnati metro trends and property-level history. When assessing risk, consider standard measures such as lighting, access control, and resident policies, and compare insurer quotes or loss runs against metro peers rather than drawing block-level conclusions.
Nearby corporate offices in metals, healthcare, energy, and insurance provide a diversified employment base that supports renter demand and commute convenience for residents, including AK Steel Holding, Humana Pharmacy Solutions, Anthem Inc Mason Campus II, Duke Energy, and Cincinnati Financial.
- AK Steel Holding — metals & manufacturing (12.9 miles) — HQ
- Humana Pharmacy Solutions — healthcare services (14.3 miles)
- Anthem Inc Mason Campus II — healthcare & insurance offices (14.5 miles)
- Duke Energy — energy utility offices (14.9 miles)
- Cincinnati Financial — insurance (16.1 miles) — HQ
Built in 1998 with 61 units, the property is positioned ahead of the neighborhood s older housing stock, offering relative competitiveness and manageable near-term capital needs. Neighborhood occupancy sits in a strong national percentile and has improved over five years; combined with moderate rent-to-income levels, this supports leasing stability and steady renewals. Within a 3-mile radius, recent growth in households and population, with projections through 2028 indicating further expansion, points to a larger tenant base and supports long-run demand.
Median home values in the area are lower than many national metros, which can create some competition from entry-level ownership; however, this also keeps rents positioned for broad workforce demand. According to CRE market data from WDSuite, per-unit NOI performance in the neighborhood ranks among the stronger pockets of the Cincinnati metro, reinforcing the case for durable operations if expenses are managed and selective renovations are used to capture incremental rent.
- 1998 vintage offers competitive positioning versus older local stock with targeted value-add potential
- Strong neighborhood occupancy and improving trend support stable collections and renewals
- 3-mile radius shows population and household growth, expanding the renter pool through 2028
- Proximity to diversified employers underpins workforce renter demand
- Risk: limited immediate amenities and accessible ownership options may temper pricing power