| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 67th | Best |
| Amenities | 54th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 23 Ravenwood Ct, Monroe, OH, 45050, US |
| Region / Metro | Monroe |
| Year of Construction | 1981 |
| Units | 50 |
| Transaction Date | 2023-08-29 |
| Transaction Price | $2,000,000 |
| Buyer | GREENTREE VILLAGE APARTMENTS LLC |
| Seller | LEBANON VILLAGE LTD |
23 Ravenwood Ct Monroe Multifamily Investment
Neighborhood occupancy remains elevated and leasing conditions appear stable for this submarket, according to WDSuite’s CRE market data. Strong schools and steady renter demand support durable cash flow potential without relying on aggressive assumptions.
Monroe’s neighborhood fundamentals skew investor-friendly: the area is rated A and ranks 27th out of 611 Cincinnati neighborhoods, placing it competitive within the metro. Neighborhood occupancy is high and in the top quartile nationally, indicating consistent lease-up and limited downtime at the neighborhood level. Schools average 4.0 out of 5 and sit in the top quartile nationally, which helps support family-oriented renter demand and retention.
The property’s 1981 vintage is older than the neighborhood’s average construction year (1990). For investors, this points to potential capital planning needs and value-add opportunities through unit upgrades, common-area improvements, and system modernization to stay competitive against newer stock.
Amenities are serviceable with grocery, parks, pharmacies, and dining accessible at moderate densities. Median rents in the neighborhood benchmark in the top quartile nationally and have grown meaningfully over the last five years, while a rent-to-income profile around the neighborhood suggests manageable affordability pressure that can aid renewal rates. Median home values sit near national mid-range levels; in practice, that means ownership is relatively attainable compared with high-cost metros, so operators should compete with entry-level ownership by emphasizing convenience, flexibility, and amenity-forward positioning.
Within a 3-mile radius, demographics show a broad tenant base today and forecasts point to household growth over the next five years, implying a larger renter pool and support for occupancy stability. Household incomes are projected to rise, which can sustain achievable rent bands. This commercial real estate analysis, based on WDSuite’s data, suggests balanced demand drivers with upside via targeted improvements.
Safety indicators are mixed but generally in line with broader metro patterns. The neighborhood’s crime rank is 236 out of 611 Cincinnati neighborhoods, which is competitive among Cincinnati neighborhoods but sits below the national median by percentile. Importantly, property offense rates have trended down over the last year, with improvement that places the area above the national median for year-over-year progress. Violent crime percentiles are below the national median, so prudent security measures and lighting remain advisable from an operations standpoint.
Proximity to regional employers underpins workforce housing demand and supports retention through commute convenience. Nearby anchors include AK Steel Holding, Anthem’s Mason campus, Humana Pharmacy Solutions, Duke Energy, and Cincinnati Financial.
- AK Steel Holding — steel manufacturing HQ (9.4 miles) — HQ
- Anthem Inc Mason Campus II — insurance operations (10.7 miles)
- Humana Pharmacy Solutions — healthcare services (10.7 miles)
- Duke Energy — utilities offices (12.3 miles)
- Cincinnati Financial — insurance HQ (13.1 miles) — HQ
This 50-unit property at 23 Ravenwood Ct benefits from strong neighborhood fundamentals: high neighborhood occupancy, top-quartile school ratings, and steady amenity access that support day-to-day livability for tenants. Renter demand is reinforced by metro-competitive positioning and a broad trade-area tenant base within 3 miles, with forecasts indicating household growth and rising incomes that can sustain leasing and renewal performance. According to CRE market data from WDSuite, neighborhood rents benchmark well nationally, which can help maintain pricing power while keeping rent-to-income within manageable ranges for a wide slice of the tenant pool.
Built in 1981, the asset is older than the neighborhood average and presents potential value-add upside via renovations and system upgrades to enhance competitiveness versus newer inventory. Operators should also plan for standard capital items tied to age and calibrate leasing strategy to compete with attainable entry-level ownership in the area through convenience, services, and quality upgrades.
- High neighborhood occupancy and top-quartile school ratings support leasing stability
- 3-mile trade area shows projected household growth and income gains, expanding the renter pool
- Neighborhood rents benchmark well nationally, aiding pricing power with manageable rent-to-income
- 1981 vintage offers value-add potential via interior and systems modernization
- Risks: owner-leaning area and below-national-median safety percentiles require competitive positioning and prudent operations