| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Best |
| Demographics | 65th | Good |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4155 Mount Carmel Tobasco Rd, Cincinnati, OH, 45255, US |
| Region / Metro | Cincinnati |
| Year of Construction | 1994 |
| Units | 35 |
| Transaction Date | 1991-01-29 |
| Transaction Price | $111,500 |
| Buyer | DHAMIJA PREM K |
| Seller | --- |
4155 Mount Carmel Tobasco Rd, Cincinnati Multifamily Investment
Steady renter demand and above-metro occupancy in the surrounding neighborhood point to durable cash flow potential, according to WDSuite’s CRE market data. With a suburban location offering everyday conveniences, the asset’s positioning supports lease retention while leaving room for targeted value-add.
The property sits in an Inner Suburb of Cincinnati with an A- neighborhood rating (ranked 99th among 611 metro neighborhoods), placing it in the top quartile locally for overall fundamentals. Neighborhood occupancy is elevated relative to many U.S. areas, supporting stability for multifamily assets.
Daily-needs access is a strength: the area scores competitive among Cincinnati neighborhoods for restaurants and groceries (both above the metro median and in higher national percentiles), while cafes and parks are thinner locally. Childcare coverage is comparatively strong. This mix supports workforce renters and reduces commute-time friction for errands.
Renter-occupied housing comprises roughly half of neighborhood units, indicating a deep tenant base to draw from and supporting leasing velocity. The property’s 1994 vintage is newer than the neighborhood average stock (1980s), suggesting relative competitiveness versus older assets, though investors should plan for systems modernization and selective renovations as part of capital planning.
Within a 3-mile radius, households have grown even as average household size edged down, and forecasts point to additional population and household gains by 2028. A growing number of smaller households generally expands the renter pool, supporting occupancy stability and absorption for well-managed multifamily properties.
Ownership costs in the neighborhood sit in a mid-range context for the region, while rents align with income levels, implying manageable affordability pressure. For investors, this balance can aid lease retention, though relatively accessible ownership options may temper outsized pricing power in certain vintages and unit mixes.
Safety indicators are mixed depending on the comparison set. Relative to the Cincinnati metro, the neighborhood’s crime position is higher than the metro median (ranked 69th of 611 neighborhoods, where lower ranks indicate more reported crime). In national context, however, WDSuite data places the area above average for overall safety, with violent offenses in the top quartile safest nationally and property crime trending lower year over year. Investors should underwrite with on-the-ground diligence, but the broader trend signals stability rather than deterioration.
Proximity to major employers in Cincinnati’s core supports commuter convenience and renter retention, particularly for finance, consumer goods, utilities, and healthcare roles represented below.
- Humana — health insurance (11.0 miles)
- Procter & Gamble — consumer goods (11.2 miles) — HQ
- Western & Southern Financial Group — financial services (11.2 miles) — HQ
- American Financial Group — financial services (11.3 miles) — HQ
- Duke Energy — utilities (11.3 miles)
This 35-unit, 1994-vintage asset benefits from strong neighborhood occupancy, a sizable renter base, and commuter access to Cincinnati’s employment core. The vintage is newer than much of the surrounding 1980s stock, offering a competitive starting point with selective value-add or systems upgrades to drive rent positioning and retention. According to CRE market data from WDSuite, the area’s rent levels track incomes, which supports steady tenancy while allowing prudent, programmatic improvements.
Within a 3-mile radius, household growth and a shift toward smaller household sizes expand the renter pool, while national safety comparisons and access to daily amenities underpin leasing stability. Balanced home values may introduce some competition from ownership alternatives, so disciplined renovations and unit-mix strategy can help sustain pricing power.
- Above-metro occupancy and deep renter base support leasing stability.
- 1994 vintage provides relative competitiveness with targeted value-add and systems modernization.
- Commuter access to major Cincinnati employers supports retention and lease-up.
- Risks: metro-relative crime requires prudent security/operations planning; accessible ownership options can temper pricing power.