| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Fair |
| Demographics | 31st | Poor |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3711 Roosevelt Blvd, Middletown, OH, 45044, US |
| Region / Metro | Middletown |
| Year of Construction | 1996 |
| Units | 24 |
| Transaction Date | 2014-10-31 |
| Transaction Price | $1,010,000 |
| Buyer | QUEST HOLDING INTERNATIONAL LLC |
| Seller | JKB PROPERTIES LLC |
3711 Roosevelt Blvd Middletown 24-Unit Multifamily
Renter demand is supported by a high share of neighborhood housing units that are renter-occupied alongside stable occupancy, according to WDSuite’s CRE market data. Positioning centers on workforce renters and retention rather than premium rent lift.
Located in Middletown’s inner-suburban fabric of the Cincinnati metro, the property benefits from everyday conveniences. Neighborhood amenities skew toward essentials: pharmacies (ranked 31 of 611 metro neighborhoods) and grocery access (74 of 611) place the area in the top quartile nationally, while restaurants (70 of 611) suggest broad quick-service and casual options. Cafe density and park space are limited (both at the bottom of the metro distribution), which points to practical, value-driven living rather than lifestyle retail clustering.
For investors, the tenure mix is supportive: an estimated 56.4% of neighborhood housing units are renter-occupied (92nd percentile nationally), indicating depth in the multifamily tenant base. Neighborhood occupancy around 89% has been steady in recent years, which generally supports leasing visibility even if rent growth remains measured. With a rent-to-income ratio near 0.22, the area signals moderate affordability that can aid lease retention and reduce turnover risk compared with higher-burden submarkets.
Demographic statistics are aggregated within a 3-mile radius. Recent population trends have been roughly flat, but WDSuite’s forward view indicates growth in both population and households over the next five years, expanding the local renter pool. Household counts are projected to rise meaningfully, which, paired with measured rent levels, can underpin occupancy stability and day-one cash flow orientation.
Asset positioning: the property’s 1996 vintage is newer than the neighborhood’s average housing stock (late 1970s). This typically improves competitive standing versus older comparables and may limit near-term capital needs to targeted system updates or value-add upgrades focused on interiors and curb appeal rather than heavy structural work.
Safety indicators show a mixed but serviceable profile. The neighborhood’s overall crime rank sits at 224 out of 611 Cincinnati metro neighborhoods; this is competitive among Cincinnati neighborhoods but not top quartile. Compared with neighborhoods nationwide, current levels for property offenses are in the top quartile for safety, and violent offenses are above average for safety. However, recent year-over-year changes indicate some volatility, so prudent operators should monitor trends and adjust onsite measures and screening accordingly.
Proximity to manufacturing, insurance, energy, and healthcare employers supports workforce renter demand and commute convenience for residents. Nearby employment anchors include AK Steel, Anthem, Humana Pharmacy Solutions, Duke Energy, and Cincinnati Financial.
- AK Steel Holding — manufacturing (12.4 miles) — HQ
- Anthem Inc Mason Campus II — insurance (13.7 miles)
- Humana Pharmacy Solutions — healthcare services (13.8 miles)
- Duke Energy — utilities (14.7 miles)
- Cincinnati Financial — insurance (15.7 miles) — HQ
This 24-unit asset, built in 1996 with average unit sizes around 645 square feet, fits a workforce-oriented profile in a renter-heavy neighborhood. According to CRE market data from WDSuite, the area maintains steady occupancy and moderate rent-to-income levels, favoring lease retention over aggressive pricing power. The property’s newer vintage versus much of the surrounding housing stock can provide a competitive edge with selective value-add to interiors and common areas rather than major systems overhauls.
Local fundamentals emphasize essential retail access and a sizable renter base, with 3-mile household growth projected to expand the tenant pool over the next five years. While home values are relatively accessible in the broader neighborhood context—implying some competition from ownership—measured rents and practical amenities support consistent demand from cost-conscious renters. Operators should plan for normal turns and monitor neighborhood safety trends, which have shown recent variability despite favorable national comparisons.
- 1996 vintage offers competitive positioning versus older stock; focus CapEx on targeted upgrades
- Renter-heavy neighborhood supports depth of tenant base and occupancy stability
- Essential retail access (grocery, pharmacy, restaurants) underpins everyday livability for workforce renters
- 3-mile household growth outlook expands the prospective renter pool over the medium term
- Risks: recent safety volatility and relatively accessible ownership options may temper pricing power