| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Good |
| Demographics | 38th | Fair |
| Amenities | 17th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 414 N Rohrer St, Urbana, OH, 43078, US |
| Region / Metro | Urbana |
| Year of Construction | 2011 |
| Units | 28 |
| Transaction Date | 2009-11-28 |
| Transaction Price | $85,000 |
| Buyer | HATTIE GREENE LIMITED PARTNERSHIP |
| Seller | KYTE SARAH J |
414 N Rohrer St Urbana Multifamily Investment
Neighborhood occupancy around 92% and a sizable renter-occupied share support steady leasing dynamics, according to WDSuite s CRE market data. Newer vintage relative to local stock positions the asset to compete on amenities while maintaining cost discipline.
Urbana s suburban neighborhood posts a B- rating with occupancy at 92.3%, modestly above national midpoints, according to WDSuite s CRE market data. The local renter-occupied share is 45%, indicating a meaningful tenant base that can aid leasing stability for a 28-unit asset. Median contract rents are below national norms and have risen over the last five years, which can support retention and manageable turnover.
The property s 2011 construction is newer than the area s average vintage (1965), offering competitive positioning versus older stock. Investors should still plan for routine system updates over the hold, but the asset s relative youth can moderate near-term capital needs compared with legacy buildings in the submarket.
Amenity density is limited in the immediate neighborhood (few cafes, groceries, parks), though restaurant coverage is present. This dynamic favors value- and convenience-oriented renter segments; however, limited walkable amenities may require sharper focus on on-site livability and parking to sustain absorption and renewals.
Within a 3-mile radius, demographics show recent population softness but improving income trends and a projected increase in household counts by 2028. A larger household base alongside slightly smaller average household sizes points to a stable or expanding renter pool, which can help support occupancy and rent collections even as population levels remain flat.
Safety indicators benchmark around or slightly above national medians, based on WDSuite s CRE market data. The neighborhood sits near the 56th percentile nationally for overall crime (higher percentile indicates safer conditions).
Trends are mixed: violent incidents have improved on a year-over-year basis and benchmark in the safer tiers nationally (around the 68th percentile), while property offenses track closer to national averages with a recent uptick. For underwriting, this suggests generally stable conditions with attention to premise security and lighting to support tenant retention.
Proximity to regional employers provides a diversified employment base that can support workforce housing demand and lease retention, including Waste Management, Staples Fulfillment Center, Parker-Hannifin, Cardinal Health, and Big Lots.
- Waste Management waste services (13.3 miles)
- Staples Fulfillment Center logistics & distribution (24.2 miles)
- Parker-Hannifin Corporation manufacturing & industrial (24.3 miles)
- Cardinal Health healthcare distribution (34.0 miles) HQ
- Big Lots retail headquarters (36.3 miles) HQ
Built in 2011, this 28-unit property is materially newer than the neighborhood s 1960s-era average, offering competitive positioning versus older stock and potentially lower near-term capital intensity. Neighborhood occupancy is around the low-90s with a sizable renter-occupied share, supporting a durable tenant base. Median contract rents sit below national levels, which can aid retention and reduce lease-down risk in softer macro periods, and rent-to-income levels indicate manageable affordability pressure for renters.
According to CRE market data from WDSuite, safety benchmarks near or above national medians with improving violent-offense trends, while property offenses warrant standard operational focus. Within a 3-mile radius, household counts are projected to rise even as population stays roughly flat, implying smaller households and reinforcing multifamily demand through a broader renter pool. Limited walkable amenities are a consideration, but proximity to regional employers supports workforce demand and leasing stability.
- 2011 vintage competes well against older local stock; plan for routine system updates over hold
- Neighborhood occupancy in the low-90s and 45% renter-occupied share support leasing stability
- Below-national rent levels and moderate rent-to-income support retention and pricing flexibility
- 3-mile household growth outlook expands the renter pool despite flat population
- Risks: limited neighborhood amenities and average property-crime trends may require enhanced onsite experience and security