| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 54th | Fair |
| Amenities | 23rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 74 Lucy Crk, Amelia, OH, 45102, US |
| Region / Metro | Amelia |
| Year of Construction | 1981 |
| Units | 36 |
| Transaction Date | 1997-12-01 |
| Transaction Price | $2,185,000 |
| Buyer | CROWN STATION LLC |
| Seller | AMELIA PIERCE LTD |
74 Lucy Crk, Amelia, OH Multifamily Investment
Neighborhood-level occupancy is exceptionally tight and renter-occupied housing is above the metro median, supporting durable tenant demand, according to WDSuite’s CRE market data. This positioning favors stable cash flow for a 36-unit asset while allowing for selective value-add to drive returns.
The property sits in an Inner Suburb of the Cincinnati, OH-KY-IN metro that rates B+ overall and ranks 174 out of 611 metro neighborhoods, placing it above the metro median. Occupancy in the neighborhood is among the strongest in the region (ranked 1 of 611) and in the top tier nationally, a constructive signal for leasing stability at the property level. The local renter-occupied share is above the metro median (ranked 168 of 611), indicating a meaningful tenant base for multifamily operators.
Within a 3-mile radius, population has expanded and is projected to continue growing, with households increasing and average household size trending smaller. This combination typically expands the renter pool and supports occupancy durability and leasing velocity for well-managed assets. Median contract rents in the 3-mile area have trended upward while the neighborhood’s rent-to-income ratio sits near mid-range nationally, suggesting manageable affordability pressure that can aid retention and reduce turnover risk.
Amenity access is mixed. Dining and cafe density are competitive among Cincinnati neighborhoods (both around the metro middle), and pharmacies score competitively (ranked 81 of 611), but immediate grocery and park access are limited within the neighborhood footprint. For investors, this points to car-oriented living with residents relying on nearby corridors for daily needs—common for inner suburban locations.
School quality measures for the neighborhood trail national averages (national percentile around the mid-30s). That may temper appeal for some family renters, though it often has a limited effect on workforce-oriented demand. Median home values sit around the national middle while the value-to-income ratio ranks in the top quartile nationally, signaling a relatively high-cost ownership market locally; this tends to sustain renter reliance on multifamily housing and can support pricing power without overextending rent-to-income balance.
The asset’s 1981 vintage is older than the neighborhood’s average construction year (1995, ranked 85 of 611), which highlights potential value-add and modernization plays—kitchen/bath updates, energy systems, and common-area refreshes—to improve competitive positioning versus newer stock.
Safety signals are mixed but improving. Compared with Cincinnati metro neighborhoods, the area’s crime rank (129 of 611) suggests crime sits above the metro average; however, nationally it places around the 59th percentile, indicating it is safer than a majority of neighborhoods across the country. According to WDSuite, both violent and property offense rates have declined materially over the last year, which is a constructive trend for long-term operations.
For underwriting, this profile typically supports stable day-to-day operations with standard security measures and resident screening, while acknowledging variability across blocks and time. Monitoring recent trend data and coordinating with local management to sustain the downward trajectory remains prudent.
Proximity to major Cincinnati employers supports commuter convenience and a broad renter base, particularly for workforce and salaried tenants. Notable employment centers within a typical driving commute include Duke Energy, Humana, Procter & Gamble, Western & Southern Financial Group, and American Financial Group.
- Duke Energy — utilities (15.4 miles)
- Humana — health insurance (15.7 miles)
- Procter & Gamble — consumer goods (15.8 miles) — HQ
- Western & Southern Financial Group — financial services (15.8 miles) — HQ
- American Financial Group — insurance (15.8 miles) — HQ
This 36-unit asset at 74 Lucy Crk benefits from exceptionally tight neighborhood occupancy and an above-median renter-occupied share, underpinning day-one demand and lease-up stability. Within a 3-mile radius, population and households have risen and are projected to increase further, supporting a larger tenant base and steady absorption. According to CRE market data from WDSuite, rent-to-income and ownership metrics point to a high-cost ownership environment relative to local incomes, which tends to sustain multifamily demand and support pricing power without unduly stressing retention.
Built in 1981, the property is older than the neighborhood’s average vintage, creating an actionable value-add path via interior upgrades and system modernization. Amenity access skews car-oriented with limited parks and groceries inside the neighborhood, while major employment centers within typical commuting distance broaden the prospective renter pool. Key risks include school ratings that trail national averages and a crime profile that is above the metro average but improving—both manageable with thoughtful operations and resident experience programming.
- Tight neighborhood occupancy and above-median renter concentration support stable leasing
- 3-mile population and household growth expand the tenant base and reinforce demand
- 1981 vintage offers clear value-add and modernization upside versus newer stock
- Risks: school ratings below national averages, mixed-but-improving safety, and car-oriented amenities