| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 54th | Fair |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3936 Banks Rd, Cincinnati, OH, 45245, US |
| Region / Metro | Cincinnati |
| Year of Construction | 1972 |
| Units | 30 |
| Transaction Date | 1999-02-25 |
| Transaction Price | $950,000 |
| Buyer | MOORE DONALD C PATRICIA A |
| Seller | JOMA FAMILY LTD PTNS |
3936 Banks Rd Cincinnati 30-Unit Suburban Multifamily
Neighborhood occupancy is roughly 98% with a renter-occupied share in the mid‑40s, pointing to a stable tenant base for workforce housing, according to WDSuite’s CRE market data. Positioned in an inner-suburb of Cincinnati, the asset benefits from steady renter demand and proximity to major employment centers.
Located in an inner-suburban pocket of Cincinnati, the neighborhood rates A- and ranks 153 out of 611 metro neighborhoods — competitive among Cincinnati neighborhoods and within the top quartile locally. Amenity access skews practical over lifestyle: grocery and pharmacy density track above national medians, while parks and cafes are limited, which suggests residents prioritize daily conveniences over entertainment-oriented options.
Neighborhood occupancy is strong at 98.3% (top decile nationally), supporting leasing stability for multifamily assets. The share of renter-occupied housing units is 45.5%, indicating a meaningful renter concentration that supports depth of demand for 1–2 bedroom product and steady renewal potential.
Within a 3‑mile radius, recent population growth is modest while household counts have increased, and projections indicate further household growth alongside smaller average household sizes. This points to a larger renter pool and ongoing demand for professionally managed apartments, which can support occupancy and lease retention.
Home values in the area are elevated for the metro but moderate nationally, and neighborhood rents sit at levels that imply relatively low rent-to-income pressure (rent-to-income ratio around 0.13). For investors, this combination can aid renewal rates and reduce turnover risk, though it may temper aggressive near-term rent push strategies.
The property’s 1972 vintage is older than the neighborhood’s average construction year (1990). That age profile typically requires capital planning for systems and common areas, but it can also present value‑add opportunities through interior upgrades and amenity improvements to differentiate from similarly aged stock.
Comparable safety metrics for this neighborhood are not available in WDSuite’s dataset for the current period. Investors typically benchmark property and neighborhood safety trends against metro averages and recent comps, and supplement underwriting with on‑the‑ground observations and management history to assess stability and potential insurance or security cost implications.
Proximity to Cincinnati’s core employment base offers commuters access to large corporate offices and several Fortune 500 headquarters, supporting renter demand and lease retention for suburban workforce housing. The employers below represent nearby demand drivers within a roughly 12–14 mile commute.
- Duke Energy — utilities (12.46 miles)
- Humana — health insurance (12.53 miles)
- Procter & Gamble — consumer goods (12.63 miles) — HQ
- Western & Southern Financial Group — financial services (12.64 miles) — HQ
- American Financial Group — insurance (12.68 miles) — HQ
This 30‑unit, 1972-vintage asset sits in an inner‑suburban Cincinnati neighborhood where occupancy is high and the renter share is meaningful, supporting a stable tenant base. Based on CRE market data from WDSuite, neighborhood occupancy is in the top decile nationally, while rent levels relative to incomes suggest manageable affordability pressure that can aid renewals. The older vintage signals near‑term capital needs but also creates clear value‑add potential through unit renovations and curb‑appeal improvements.
Within a 3‑mile radius, household counts have been rising and are projected to continue increasing as average household size trends lower, indicating renter pool expansion even with modest population growth. Practical amenity access (notably grocery and pharmacy density) supports day‑to‑day livability, while proximity to major Cincinnati employers underpins commuter demand. Investors should balance these strengths against competitive pressure from homeownership options and the limited lifestyle amenity mix in the immediate area.
- High neighborhood occupancy and mid‑40% renter concentration support demand stability
- 1972 vintage offers value‑add upside via interiors and common‑area upgrades
- 3‑mile area shows household growth and smaller household sizes, expanding the tenant base
- Practical amenity access and access to major employers bolster retention and leasing
- Risks: older‑asset capex needs and competition from ownership/lifestyle alternatives