| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 44th | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1429 Old State Route 74, Batavia, OH, 45103, US |
| Region / Metro | Batavia |
| Year of Construction | 1980 |
| Units | 54 |
| Transaction Date | 2022-08-22 |
| Transaction Price | $3,175,000 |
| Buyer | INVICTA LLC |
| Seller | CLERMONT HOUSING CORPORATION INC |
1429 Old State Route 74 Batavia, OH Multifamily
Neighborhood occupancy is strong and renter demand is durable for this inner-suburban location, according to WDSuite's CRE market data. Investors should view the asset as a cash flow play with potential to enhance positioning over time.
Located in Batavia within the Cincinnati metro, the neighborhood rates C+ and functions as an inner suburb with solid renter depth. Neighborhood occupancy is competitive among Cincinnati neighborhoods (relative to the 611 neighborhoods in the metro) and sits in the top quartile nationally, supporting income stability for multifamily assets.
Renter-occupied share is high for the metro (top quartile among 611 neighborhoods), indicating a sizable tenant base for workforce and mid-market product. Neighborhood median rents benchmark on the lower side nationally, and the rent-to-income ratio trends favorable, which can aid lease retention and keep exposure to affordability pressure manageable.
Within a 3-mile radius, demographics point to population growth and a notable increase in households, suggesting a larger tenant base ahead. Forecasts indicate further household expansion alongside slightly smaller average household size, which typically supports steady demand for rental units and occupancy stability.
Local in-neighborhood amenities index low (few cafes, restaurants, and parks within the immediate blocks), so residents likely rely on nearby corridors for daily needs. Home values are elevated relative to incomes by national comparison, reinforcing renter reliance on multifamily housing and supporting pricing power for well-positioned properties. The neighborhood's average construction year skews newer than this asset's 1980 vintage, which points to value-add opportunity and the need to plan for capital improvements to stay competitive against younger stock.
Safety indicators track better than national averages (upper-half nationally), and recent trends show one-year declines in both violent and property offenses, based on CRE market data from WDSuite. Within the Cincinnati metro, the neighborhood ranks 104 out of 611 on crime metrics; investors should contextualize this with property-level security, management practices, and continued monitoring of local trends.
Proximity to regional employers underpins renter demand, with access to consumer goods, insurance and financial services, and retail corporate offices reflected below.
- Kroger DCIC — corporate offices (14.2 miles)
- Humana — insurance (15.1 miles)
- Procter & Gamble — consumer goods (15.3 miles) — HQ
- Western & Southern Financial Group — financial services (15.3 miles) — HQ
- American Financial Group — insurance (15.4 miles) — HQ
This 54-unit asset, built in 1980, is older than the neighborhood average, creating a practical pathway for value-add upgrades and targeted capital planning. Neighborhood occupancy trends are competitive in the Cincinnati metro and top quartile nationally, and the area's renter concentration supports depth of demand and steady leasing. Within a 3-mile radius, population growth and a meaningful increase in households point to a larger tenant base, while elevated ownership costs in the area sustain reliance on multifamily rentals. These dynamics collectively support revenue durability, according to commercial real estate analysis from WDSuite.
Positioning against newer nearby stock will require modernization, but the neighborhood's favorable rent-to-income profile and top-quartile renter share can support occupancy stability. Limited immediate-block amenities argue for focusing on on-site features and management to drive retention.
- High neighborhood occupancy and strong renter concentration support income stability
- 1980 vintage offers value-add and capex-driven upside versus newer competitive stock
- 3-mile population and household growth expand the tenant base over time
- Risks: older vintage capital needs and limited immediate amenities require proactive asset management