| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Fair |
| Demographics | 41st | Fair |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 744 E Court St, Urbana, OH, 43078, US |
| Region / Metro | Urbana |
| Year of Construction | 1985 |
| Units | 49 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
744 E Court St, Urbana OH Multifamily Investment
Positioned in an Inner Suburb pocket that ranks competitive among 26 Urbana neighborhoods, the asset benefits from a higher neighborhood renter concentration and everyday amenities nearby, according to WDSuite’s CRE market data. Neighborhood occupancy metrics refer to the area, not the property, and suggest room for operational upside with disciplined leasing and renewals.
Neighborhood quality is a notable strength: this area is competitive among Urbana, OH neighborhoods (ranked 3 of 26 with an A rating). Amenity access trends above metro norms with top-ranked density for cafes and pharmacies and strong grocery and restaurant presence, while park access is limited. For investors, this mix supports daily-life convenience that can aid leasing and retention even without extensive on-site amenities.
The property s 1985 vintage is newer than the neighborhood s older housing stock (average year 1947). That positioning can be advantageous versus legacy assets, while investors should still underwrite routine modernization and systems upkeep common for 1980s construction.
Neighborhood occupancy is below national averages (ranked 22 of 26 locally), while the share of renter-occupied housing units is comparatively high (ranked 3 of 26; top quartile nationally). Interpreted together, the area offers a deep tenant pool but may require focused leasing management to stabilize turnover and capture renewals. Median contract rents in the neighborhood sit at the lower end of national ranges, and the rent-to-income profile indicates manageable affordability pressure factors that can support retention but may temper near-term pricing power.
Within a 3-mile radius, recent data shows modest population softening with a slight forecast uptick ahead and an increase in average household size historically; forward-looking estimates point to household growth and a modest reduction in household size. For multifamily demand, that combination generally expands the tenant base and supports occupancy stability over time. Average school ratings in the neighborhood are modest (above the metro median by rank but below many national peers), so properties appealing on value and convenience are likely to outperform.
Safety indicators are relatively favorable in a national context and mixed within the metro. The neighborhood s crime profile ranks 13 out of 26 Urbana neighborhoods middle of the pack locally. Nationally, area safety trends better than average (around the upper third), with violent-offense indicators performing above national medians and property-offense measures closer to national mid-range.
Recent trend data shows year-over-year improvement in both violent and property offense estimates, a constructive signal for investor risk assessment. Use these as neighborhood-level indicators, not property-specific guarantees, and pair with standard due diligence such as on-the-ground observation and local leasing feedback.
The employment base within commuting range blends logistics, manufacturing, and healthcare corporate operations factors that can support workforce housing demand and lease retention. Notable nearby employers include Waste Management, Staples Fulfillment Center, Parker-Hannifin Corporation, Cardinal Health, and Big Lots.
- Waste Management environmental services (13.5 miles)
- Staples Fulfillment Center distribution (22.8 miles)
- Parker-Hannifin Corporation manufacturing (23.0 miles)
- Cardinal Health healthcare & supply chain (32.6 miles) HQ
- Big Lots retail corporate (34.8 miles) HQ
This 49-unit asset built in 1985 offers relative competitiveness versus older neighborhood stock and benefits from a renter-leaning area with daily amenities that support leasing. Neighborhood occupancy trails national norms, but lower rent levels and a manageable rent-to-income profile can underpin renewals, while amenity access (cafes, pharmacies, grocery) enhances day-to-day livability. According to commercial real estate analysis from WDSuite, the neighborhood ranks competitively within the metro, and forward-looking 3-mile projections indicate an expanding household base that can broaden the tenant pool over time.
Key underwriting considerations include capital planning for 1980s systems, diligent lease management to offset softer neighborhood occupancy, and recognition that a more accessible ownership market may create some competition for renters. The net setup favors steady operations with selective value-add or modernization to strengthen positioning versus older comparables.
- Newer-than-neighborhood vintage (1985) supports competitive positioning versus older local stock
- Renter-occupied share ranks high locally, indicating depth of tenant demand
- Amenity access (top-ranked cafes/pharmacies; strong grocery/restaurant presence) aids leasing and retention
- Manageable rent-to-income profile supports renewals, with pricing power likely gradual
- Risks: below-average neighborhood occupancy, modest school ratings, and ownership accessibility may add competitive pressure