| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Best |
| Demographics | 47th | Fair |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 517 Wells Mills Dr, Oxford, OH, 45056, US |
| Region / Metro | Oxford |
| Year of Construction | 1973 |
| Units | 27 |
| Transaction Date | 1996-10-08 |
| Transaction Price | $2,690,000 |
| Buyer | OGDEN INVESTMENTS |
| Seller | KOSTIC IRMA G |
517 Wells Mills Dr, Oxford OH — 27-Unit Value-Add Multifamily
Neighborhood data indicates a deep renter base and a high-cost ownership market that can support steady leasing, according to WDSuite’s CRE market data. 1973 vintage suggests renovation upside for investors seeking to enhance positioning and cash flow.
Oxford’s Inner Suburb setting offers everyday convenience with groceries and pharmacies performing above many peer areas in the metro, while cafes and restaurants are thinner locally. Median school ratings in the neighborhood are competitive, with the average school score sitting in the top quartile nationally, which can support family-oriented renter retention.
Rents in the neighborhood have risen over the past five years, and the area’s rent-to-income levels point to manageable affordability pressure compared with higher-cost metros. At the same time, neighborhood occupancy is below the metro median, so underwriting should account for leasing velocity and potential concessions during shoulder seasons.
Within a 3-mile radius, demographics skew younger with a large share of residents ages 18–34 and a high concentration of renter-occupied housing units. Despite a modest decline in total population, WDSuite data projects an increase in total households, implying smaller household sizes and a broader tenant base over time — factors that can support occupancy stability for well-managed assets.
The property’s 1973 construction is older than the neighborhood’s average vintage, signaling the need for capital planning. For investors, this can translate into value-add potential through interior updates and system modernization, improving competitive position against newer stock while targeting durable returns.
Safety indicators for the neighborhood are mixed. Compared with neighborhoods nationwide, the area sits below the middle of the pack for overall safety, and within the Cincinnati metro it tracks near the midpoint among 611 neighborhoods. This suggests investors should underwrite standard security measures and active property management to support resident satisfaction and retention.
Recent year-over-year shifts show volatility in both property and violent offense estimates. While such movements can reflect reporting dynamics as much as underlying change, prudent owners typically monitor trends, coordinate with local resources, and incorporate preventative design and lighting as part of routine asset management.
Regional employers within commuting range help support workforce housing demand and lease retention. Notable nearby corporate offices include energy, financial services, steel, healthcare services, and insurance operations listed below.
- Duke Energy — energy (16.2 miles)
- Cincinnati Financial — financial services (18.3 miles) — HQ
- AK Steel Holding — steel (21.2 miles) — HQ
- Humana Pharmacy Solutions — healthcare services (21.8 miles)
- Prudential Financial — financial services (23.5 miles)
This 27-unit asset at 517 Wells Mills Dr offers an approachable scale with a renter-driven demand base. The neighborhood shows above-average access to daily needs like groceries and pharmacies, balanced by thinner food-and-beverage density nearby. Within a 3-mile radius, demographics skew younger and renter-occupied housing shares are elevated, pointing to a larger tenant pool and potential for stable occupancy when operations are proactive. According to CRE market data from WDSuite, neighborhood occupancy trends run below the metro median, so disciplined leasing and renewal management are important.
Built in 1973, the property is older than the local average vintage, creating clear value-add pathways through interior renovations and selective building-system upgrades. A high-cost ownership backdrop relative to incomes in the neighborhood reinforces reliance on rental housing, which can help sustain demand and pricing power for well-positioned units while still requiring attention to affordability pressure in renewal strategies.
- Younger-skewing, renter-heavy 3-mile demographics support a broad tenant base and leasing depth.
- 1973 vintage offers value-add potential via interior updates and modernization to lift competitive standing.
- Daily-needs retail access (grocery, pharmacy) favors resident convenience and renewal probability.
- Ownership costs in the neighborhood bolster reliance on multifamily rentals, aiding pricing power.
- Risks: neighborhood occupancy below metro median and safety metric volatility require focused leasing, security practices, and conservative underwriting.