| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Best |
| Demographics | 65th | Good |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4140 Mount Carmel Tobasco Rd, Cincinnati, OH, 45255, US |
| Region / Metro | Cincinnati |
| Year of Construction | 1985 |
| Units | 70 |
| Transaction Date | 2015-07-28 |
| Transaction Price | $4,268,372 |
| Buyer | WATERBURY GARDENS LP |
| Seller | CF SPRING GATE POOL 2 LLC |
4140 Mount Carmel Tobasco Rd Cincinnati 70-Unit Multifamily
Neighborhood occupancy trends point to durable income and steady renter demand, according to WDSuite’s CRE market data.
Positioned on Cincinnati’s east side, the property sits in an inner-suburban neighborhood rated A- and ranked 99th of 611 metro neighborhoods — a top quartile placement that signals competitive fundamentals versus most peer areas. Grocery access is strong and restaurant density is robust, while parks, pharmacies, and cafes are limited within the immediate neighborhood footprint.
For multifamily operations, neighborhood occupancy is in the top quartile nationally, supporting leasing stability and lower downtime risk. Median contract rents benchmark slightly above national norms, suggesting room for competitive positioning rather than premium pricing. Within a 3-mile radius, the renter-occupied share is about 36%, indicating a meaningful tenant base while still competing with ownership options — a profile that favors well-managed, service-forward assets.
Demographic data aggregated within a 3-mile radius shows a modest population dip in recent years alongside growth in total households and a smaller average household size. Projections point to population growth and a sizable increase in household count over the next five years, expanding the tenant base and helping support occupancy stability.
Home values are moderate for the region, and the value-to-income profile indicates a relatively accessible ownership market. For investors, this typically means balanced rental demand with some competition from for-sale housing; rent-to-income near the low 20% range generally supports retention and measured rent adjustments. Built in 1985, the asset is slightly newer than the neighborhood’s early-1980s average, offering a competitive edge versus older stock while still warranting targeted system updates and common-area refreshes as part of long-term capital planning.
Safety indicators compare favorably in a national context. Overall crime benchmarks safer than the national average, violent offenses sit in the top percentile nationally, and property offenses are also above national norms for safety. Recent year-over-year trends show modest declines in both violent and property offense rates, supporting an operating environment that benefits from prudent, professional management without relying on block-level claims.
Within the Cincinnati metro, the neighborhood is competitive among peer areas, though conditions can vary by micro-location and over time. Standard measures — lighting, access controls, and oversight — remain appropriate underwriting assumptions.
A concentration of nearby corporate offices supports commuter convenience and a stable white-collar renter pool. Key employers include Humana, American Financial Group, Duke Energy, Procter & Gamble, and Western & Southern Financial Group.
- Humana — insurance (11.1 miles)
- American Financial Group — insurance (11.3 miles) — HQ
- Duke Energy — utilities (11.3 miles)
- Procter & Gamble — consumer goods (11.3 miles) — HQ
- Western & Southern Financial Group — financial services (11.3 miles) — HQ
This 70-unit, 1985-vintage asset benefits from a competitive inner-suburban location where occupancy is strong and neighborhood performance ranks in the top quartile among 611 Cincinnati metro neighborhoods. According to CRE market data from WDSuite, area rents sit slightly above national norms while safety metrics compare favorably nationwide, supporting stable operations and tenant retention.
Within a 3-mile radius, projections indicate population growth and a substantial increase in households alongside smaller average household sizes — dynamics that expand the renter pool and support leasing durability. The 1985 construction offers a mild age advantage versus much of the early-1980s stock, with potential to unlock value through targeted interior updates, common-area improvements, and systems planning.
- Top-quartile neighborhood performance in the Cincinnati metro supports durable occupancy
- Expanding 3-mile household base points to a larger tenant pool and stable leasing
- 1985 vintage provides light value-add potential through targeted renovations and system upgrades
- Risks: accessible ownership market and limited nearby parks/pharmacies may temper pricing power; underwrite to service quality and retention