| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Fair |
| Demographics | 41st | Fair |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 848 E Court St, Urbana, OH, 43078, US |
| Region / Metro | Urbana |
| Year of Construction | 1986 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
848 E Court St Urbana Multifamily Investment
1986-vintage, 36-unit asset positioned in an Inner Suburb context where renter-occupied housing is roughly one-third of units, supporting a steady workforce tenant base. According to WDSuite’s CRE market data, neighborhood rents have been rising while ownership remains a higher-commitment alternative, reinforcing durable rental demand.
The property sits in an Urbana Inner Suburb neighborhood rated A and ranked 3rd of 26 locally, indicating performance competitive among Urbana neighborhoods. Cafes, childcare, and pharmacies score well in the metro (each near the top of 26 neighborhoods) and land above midrange nationally, while park access is limited. These amenity dynamics favor day-to-day convenience that supports renter retention.
With a 1986 construction year in an area where the average home vintage trends older (mid-20th century), the asset should compare well to legacy stock; plan for typical systems modernization and common-area upgrades to sustain competitiveness against newer deliveries. Renter-occupied share is about one-third of housing units locally and in the 3-mile radius, which points to a meaningful but not saturated tenant base for multifamily.
Neighborhood occupancy is reported at 85% and has eased in recent years, suggesting some leasing friction relative to national norms. Balanced against that, rent-to-income levels are moderate (per WDSuite), which can support retention and measured pricing power. Home values are lower than many national peers, so operators should underwrite some competition from ownership options, but rental convenience and upfront cost differences continue to sustain multifamily demand.
Demographic statistics aggregated within a 3-mile radius show recent population softness but projections point to a modest increase ahead, alongside a decrease in average household size. In investor terms, that implies more, smaller households and an expanding renter pool over time—supportive of occupancy stability when paired with disciplined leasing. This context aligns with multifamily property research that emphasizes the role of convenience amenities and attainable rents in smaller metro markets.
Compared with neighborhoods nationwide, this area trends safer than average (around the upper-middle national percentiles) and is competitive among Urbana neighborhoods. According to WDSuite, estimated violent and property offense rates have declined notably year over year, which is constructive for tenant retention and leasing narratives. As always, safety can vary within small geographies, so investors should align on-site measures and resident communications with current local trends.
Proximity to regional employers supports workforce housing demand and commute convenience, led by waste services, logistics, industrial manufacturing, healthcare distribution, and retail headquarters within a ~40-mile radius.
- Waste Management — waste services (13.5 miles)
- Staples Fulfillment Center — logistics/fulfillment (22.7 miles)
- Parker-Hannifin Corporation — industrial manufacturing (22.9 miles)
- Cardinal Health — healthcare distribution (32.4 miles) — HQ
- Big Lots — retail headquarters (34.6 miles) — HQ
848 E Court St offers a 36-unit, 1986-vintage footprint in an A-rated Urbana neighborhood ranked 3rd of 26, with strong day-to-day amenities and a renter concentration near one-third of units. The asset’s vintage is newer than the area’s older housing stock, providing a competitive edge with a targeted value-add plan for systems and common areas. According to CRE market data from WDSuite, neighborhood rents have trended upward, rent-to-income remains moderate, and homeownership costs locally continue to position rental housing as a practical alternative—favorable for retention and steady leasing.
Forward-looking 3-mile demographics indicate a modest return to population growth and smaller household sizes, which can expand the renter pool and support occupancy over time. Near-term, investors should underwrite below-national occupancy levels and limited park access, while leaning on amenity convenience, workforce employer access, and balanced affordability to drive stable performance.
- A-rated neighborhood (3rd of 26) with strong daily amenities that support retention
- 1986 vintage vs. older local stock; value-add through systems and common-area upgrades
- Rising rents and moderate rent-to-income, per WDSuite, aid measured pricing power
- 3-mile outlook points to more, smaller households and a broader renter pool
- Risks: below-national occupancy, limited park access, and some competition from ownership