| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Fair |
| Demographics | 48th | Fair |
| Amenities | 17th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3422 State Route 132, Amelia, OH, 45102, US |
| Region / Metro | Amelia |
| Year of Construction | 1973 |
| Units | 44 |
| Transaction Date | 2004-04-26 |
| Transaction Price | $3,742,200 |
| Buyer | CROWN CROSSING LLC |
| Seller | A R III LTD |
3422 State Route 132 Amelia Multifamily Investment
Neighborhood occupancy is exceptionally tight and renter demand is supported by household growth within a 3-mile radius, according to CRE market data from WDSuite. Stable fundamentals and a growing tenant base point to steady lease-up and retention potential.
Located in a rural pocket of the Cincinnati metro, the area around 3422 State Route 132 offers quiet, lower-density living with limited retail and service density. Amenity availability trails the metro (cafes, groceries, and pharmacies are sparse), while park access trends above the national midpoint. Average school ratings near 2.0 out of five may weigh on some family-oriented leasing decisions.
Neighborhood-level occupancy is at the top of the metro distribution (ranked 1 out of 611 neighborhoods), a signal of leasing stability at the submarket level rather than at this specific property. The renter-occupied share in the immediate neighborhood is below the metro median, indicating an owner-heavy base; for investors, that typically means a thinner but more stable renter cohort.
Within a 3-mile radius, population and household counts have grown and are projected to continue increasing through 2028, pointing to a larger tenant base and support for occupancy. The local rent-to-income profile trends favorable for retention, and home values sit near national midpoints, suggesting ownership is attainable for some households and that Class B multifamily may face moderate competition from for-sale options.
Vintage context matters: the property’s 1973 construction is newer than the neighborhood’s average 1951 housing stock, providing relative competitiveness versus older comparables; investors should still underwrite aging systems and targeted modernization to meet current renter expectations.
Safety trends compare favorably in the Cincinnati metro context. Crime ranks in the top quartile among 611 metro neighborhoods (crime rank 90 of 611 indicates lower incident rates relative to the region), and the neighborhood sits around the 63rd percentile for safety nationally. Violent incidents have declined year over year, with improvement tracking in a high national percentile, which supports resident retention and leasing stability.
As with any micro-location, outcomes vary block to block. These figures reflect the broader neighborhood, not this property specifically, and should be paired with on-the-ground diligence and standard security planning.
Proximity to Cincinnati’s core employers provides a diversified white-collar employment base that can support multifamily demand and reduce commute friction for renters. Nearby anchors include Duke Energy, Western & Southern Financial Group, Humana, Procter & Gamble, and American Financial Group.
- Duke Energy — utilities corporate offices (16.9 miles)
- Western & Southern Financial Group — insurance & financial services (17.4 miles) — HQ
- Humana — health insurance (17.4 miles)
- Procter & Gamble — consumer goods (17.4 miles) — HQ
- American Financial Group — financial services (17.5 miles) — HQ
This 44-unit, 1973-vintage asset sits in a low-density pocket with neighborhood-level occupancy at the top of the metro distribution, indicating strong leasing stability at the area level. Within a 3-mile radius, population and households are expanding and are projected to grow further by 2028, supporting a larger renter pool and steady absorption. Based on commercial real estate analysis from WDSuite, rents trend manageable relative to incomes locally, which can aid retention even as ownership remains accessible for some households.
Relative to older nearby stock, 1970s construction can be competitive with targeted upgrades, offering value-add potential through unit and systems modernization. Key considerations include limited amenity density and average school ratings, which may temper family-oriented demand; underwriting should also account for ongoing capital planning typical for assets of this vintage.
- Tight neighborhood occupancy supports lease stability and reduces downtime risk
- Expanding 3-mile renter base underpins demand and absorption through 2028
- 1973 construction offers value-add upside versus older local comparables
- Rent-to-income profile supports retention, per WDSuite s CRE market data
- Risks: limited nearby amenities and average school ratings; plan for capital needs typical of 1970s assets