| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Good |
| Demographics | 38th | Fair |
| Amenities | 17th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 819 Mosgrove St, Urbana, OH, 43078, US |
| Region / Metro | Urbana |
| Year of Construction | 1991 |
| Units | 102 |
| Transaction Date | 2007-04-05 |
| Transaction Price | $569,000 |
| Buyer | BUCHENROTH STEVEN L |
| Seller | STONEY RIDGE LP |
819 Mosgrove St Urbana Multifamily with Stable Demand
Neighborhood occupancy sits in the low 90s with a renter-occupied share around the mid‑40% range, pointing to a stable tenant base, according to WDSuite’s CRE market data. Built in 1991, the property’s vintage is competitive versus older local stock, supporting leasing durability.
Located in Urbana, the neighborhood posts a B- rating and is competitive among Urbana’s 26 neighborhoods for everyday livability, even as national amenity depth is modest. Dining options are present, though limited cafe, grocery, park, and pharmacy density suggests residents rely on a broader trade area for some services. For investors, that sets expectations for a suburban experience where convenience comes from a mix of local and nearby corridors.
Occupancy for the neighborhood is in the low 90% range and has trended upward over the past five years, supporting income stability. Median rents benchmark as accessible relative to local incomes (rent-to-income near the mid‑teens), which can aid retention and limit turnover friction. Compared with the metro’s older average construction vintage (mid‑1960s), a 1991 asset should compete well for renters seeking more contemporary layouts, while investors should still plan for selective system upgrades and common-area refreshes over a hold.
Tenure patterns indicate a meaningful renter concentration at the neighborhood level (roughly mid‑40% of housing units renter‑occupied), which reinforces depth for multifamily demand. Within a 3‑mile radius, demographics point to a broadly stable population with some shifts in household composition; forward-looking estimates show households expanding even if headcount is roughly flat, which can translate into a larger tenant base and support for occupancy.
Ownership costs in the area are comparatively accessible by national standards, which may introduce some competition from entry-level homeownership. That dynamic usually moderates push on rents but can still support consistent leasing when combined with attainable monthly payments and employment access. Overall, the neighborhood reads as workforce-oriented with steady renter demand rather than outsized growth, aligning with income-focused strategies.
Safety indicators compare differently at local and national scales. Versus the 26 Urbana neighborhoods, overall crime ranks in the lower half, signaling room for improvement at the metro level. Nationally, recent readings place violent incidents in the safer half of U.S. neighborhoods with a notable year‑over‑year decline, while property offenses track closer to the national midrange.
For underwriting, this mix points to standard risk management: emphasize lighting, access controls, and visible maintenance, and monitor trends over time. The directional improvement in violent incidents is a constructive signal, but investors should compare current readings to peer assets across the metro during diligence.
The area draws from a diversified regional employment base that supports workforce housing and commute convenience, including environmental services, industrial manufacturing, retail distribution, and major corporate offices.
- Waste Management — environmental services (13.3 miles)
- Staples Fulfillment Center — retail distribution (24.5 miles)
- Parker-Hannifin Corporation — industrial manufacturing (24.5 miles)
- Cardinal Health — healthcare supply chain (34.3 miles) — HQ
- Big Lots — retail headquarters (36.6 miles) — HQ
This 102‑unit asset was built in 1991, newer than the neighborhood’s mid‑1960s average, giving it a competitive edge over older stock while leaving room for targeted modernization to drive rentability. Neighborhood occupancy in the low 90s and a renter share near the mid‑40% range indicate a durable tenant base and support for income stability. According to CRE market data from WDSuite, rents remain aligned with local incomes, which can aid retention and reduce leasing friction.
Within a 3‑mile radius, population is broadly steady with signs that household counts could expand over the next several years, implying a gradually larger renter pool even if headcount is roughly flat. Local ownership costs are relatively accessible by national standards, introducing some competition with entry‑level ownership; however, that typically sustains steady, value‑oriented demand rather than speculative spikes. Execution should focus on value preservation, light interior updates, and operational discipline to capture consistent cash flow.
- 1991 vintage outcompetes older local stock; selective upgrades can enhance positioning
- Neighborhood occupancy in the low 90s supports income stability and leasing durability
- Rents aligned with local incomes aid retention and reduce turnover risk
- 3‑mile household expansion outlook points to a gradually larger renter base
- Risks: modest amenity depth and accessible ownership options can temper pricing power