| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 43rd | Fair |
| Amenities | 45th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 424 Bavarian St, Middletown, OH, 45044, US |
| Region / Metro | Middletown |
| Year of Construction | 1993 |
| Units | 107 |
| Transaction Date | 2013-10-26 |
| Transaction Price | $3,825,000 |
| Buyer | FB Vienna LLC |
| Seller | ARV Vienna Forest Villas |
424 Bavarian St, Middletown OH Multifamily Investment
Neighborhood occupancy is tight and supports steady leasing performance, according to WDSuite’s CRE market data, with pricing supported by a middle-income renter base. The asset’s suburban positioning offers operational stability for investors prioritizing consistent cash flow over volatility.
Located in Middletown within the Cincinnati metro, the neighborhood is rated B and is competitive among Cincinnati neighborhoods (ranked 239 out of 611), per WDSuite. Local conditions point to resilient renter demand: neighborhood occupancy is currently at the top of the metro distribution, which supports lease-up and renewal stability at the submarket level; note this occupancy is measured for the neighborhood, not the property.
Amenity access is mixed. Park access sits in the upper range nationally, while grocery availability is above the metro median; however, cafes and pharmacies are comparatively sparse. For investors, this typically translates to value-conscious renter profiles that prioritize space and price over lifestyle retail, which can aid retention if management keeps day-to-day needs convenient.
The building s 1993 vintage is newer than the neighborhood s average construction year (1973). That positioning can be competitive versus older stock, though investors should plan for system modernization and select interior upgrades to maintain curb appeal and reduce near- to mid-term capex surprises.
Tenure patterns indicate a moderate renter concentration in the immediate neighborhood, with a larger renter pool within a 3-mile radius. Demographic data aggregated within 3 miles show modest population growth in recent years and projections for additional household growth through 2028, which supports a broader tenant base and occupancy stability.
Home values are comparatively accessible for the region, and rent-to-income levels trend manageable, suggesting balanced affordability pressures. For multifamily owners, this combination can support retention while still allowing for measured rent optimization tied to service quality and unit upgrades.
WDSuite does not report a comparable neighborhood crime rank for this area, so investors should benchmark conditions against Butler County and Cincinnati metro trends to contextualize perceptions of safety. Use a consistent approach that compares neighborhood metrics to metro averages over time rather than relying on isolated datapoints.
Operationally, prudent measures such as lighting, access control, and community standards can help support resident satisfaction in suburban settings like this, regardless of broader regional trends.
- AK Steel Holding — steel manufacturing corporate offices (13.2 miles) — HQ
- Anthem Inc Mason Campus II — health insurance (13.7 miles)
- Humana Pharmacy Solutions — pharmacy benefit services (14.6 miles)
- Duke Energy — utilities (16.0 miles)
- Cincinnati Financial — insurance (16.9 miles) — HQ
The area draws from a diversified white-collar employment base, with corporate offices in steel, insurance, healthcare services, and utilities within commutable distance—supporting renter demand and lease retention for workforce-oriented housing.
At 107 units with a 1993 vintage, the property offers operational scale and potential value-add upside relative to older neighborhood stock. Neighborhood occupancy sits at the top of the metro distribution, which, according to CRE market data from WDSuite, points to durable renter demand and supports stable collections when paired with disciplined leasing and renewals.
Within a 3-mile radius, demographics indicate modest recent population growth and a projected increase in households by 2028, expanding the local renter pool. Rent-to-income levels appear manageable for many households, creating room for targeted renovations and measured rent positioning while maintaining retention. Investors should weigh softer school ratings and uneven retail depth against strong parks access, grocery convenience, and proximity to diversified employers.
- Occupancy at the neighborhood level ranks at the top of the metro, supporting leasing stability
- 1993 vintage offers value-add potential versus older local stock with manageable modernization scope
- 3-mile demographics point to household growth, reinforcing a deeper tenant base and renewal potential
- Accessible ownership costs and balanced rent-to-income suggest retention with measured rent optimization
- Risks: below-average school ratings and sparse cafes/pharmacies may narrow some renter segments