| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Fair |
| Demographics | 41st | Fair |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 311 Jefferson Ave, Urbana, OH, 43078, US |
| Region / Metro | Urbana |
| Year of Construction | 1976 |
| Units | 42 |
| Transaction Date | 2015-09-01 |
| Transaction Price | $950,000 |
| Buyer | JENNER PROPERTIES LLC |
| Seller | MCGRAIN LARRY L |
311 Jefferson Ave Urbana Multifamily Value-Add
Stabilized renter demand and relatively low rent-to-income at the neighborhood level point to retention and steady leasing, according to WDSuite’s CRE market data, while vintage suggests room for targeted upgrades to lift performance.
Urbana’s Inner Suburb submarket shows investor-friendly livability with everyday services close at hand. The neighborhood is competitive among 26 Urbana neighborhoods for amenities (ranked 1st of 26), with cafe and pharmacy density above national midpoints (cafes near the 83rd percentile and pharmacies near the 80th percentile). School ratings trend below national averages, which can shape unit mix strategies but does not preclude stable workforce housing demand.
At the neighborhood scale, occupancy trails metro and national benchmarks (ranked 22nd of 26), implying some leasing friction and the need for hands-on management and differentiated product. Offsetting this, the share of housing units that are renter-occupied is elevated (ranked 3rd of 26 and above the national median), supporting a deeper tenant base for multifamily. Median contract rents sit on the lower end for the region, which supports retention but may moderate near-term pricing power.
Demographics aggregated within a 3-mile radius show a modest population dip over the last five years with an expected flat-to-slight increase ahead, while household counts are projected to rise and average household size to edge down. For investors, that combination typically expands the renter pool and supports occupancy stability for appropriately positioned assets. Home values are relatively accessible compared with higher-cost metros, which can create some competition from ownership; however, a low rent-to-income ratio at the neighborhood level favors lease renewals and steadier cash flow. This commercial real estate analysis draws on trends surfaced by WDSuite.
The property’s 1976 construction is newer than the neighborhood’s older housing stock (average vintage near the late 1940s), suggesting a competitive edge versus pre-war assets while still presenting classic value-add levers such as systems modernization, interior renovations, and curb-appeal upgrades.
Neighborhood safety indicators compare favorably at the national level while placing around the middle of the pack locally. Crime risk ranks mid-range within the Urbana metro (13th of 26), yet national percentiles trend above average for overall and violent offenses, indicating comparatively safer conditions versus many U.S. neighborhoods.
Recent momentum is constructive: estimated violent and property offense rates have declined year over year, placing those improvements in the upper tiers nationally. For investors, these trends can support resident retention and marketing narratives, while continued monitoring against metro peers remains prudent.
Nearby employers provide a diversified base across waste services, logistics, industrial manufacturing, healthcare distribution, and retail headquarters — the mix that supports renter demand and commute convenience for workforce housing.
- Waste Management — waste services (13.6 miles)
- Staples Fulfillment Center — logistics & fulfillment (22.9 miles)
- Parker-Hannifin Corporation — industrial/manufacturing offices (23.0 miles)
- Cardinal Health — healthcare distribution (32.6 miles) — HQ
- Big Lots — retail headquarters (34.9 miles) — HQ
311 Jefferson Ave aligns with a practical value-add strategy in an Inner Suburb setting where renter concentration is above the metro median and everyday amenities are strong. Neighborhood occupancy sits below peer norms, indicating a need for focused leasing and product differentiation, but low rent-to-income at the neighborhood level supports renewals and steadier collections. Built in 1976, the asset is newer than much of the surrounding housing stock, creating room for targeted renovations to sharpen competitive positioning versus older properties.
According to CRE market data from WDSuite, the local renter base is supported by accessible daily services and a diversified regional employment draw, while 3-mile demographic trends point to rising household counts and slightly smaller household sizes — factors that can expand the renter pool over time. Execution should emphasize value-oriented upgrades and disciplined leasing to convert amenity and access advantages into stable occupancy and income growth.
- Above-median renter concentration supports a deeper tenant base for 42 units
- 1976 vintage offers value-add potential versus older neighborhood stock
- Amenity access and diversified employers support leasing and retention
- Risk: Below-metro occupancy and more accessible homeownership require hands-on leasing and competitive positioning