| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 62nd | Good |
| Amenities | 20th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4593 Summerside Rd, Cincinnati, OH, 45244, US |
| Region / Metro | Cincinnati |
| Year of Construction | 1980 |
| Units | 48 |
| Transaction Date | 1993-09-28 |
| Transaction Price | $1,350,000 |
| Buyer | SUMMERSIDE LTD |
| Seller | TRST GERRARD G KAMPHAUS |
4593 Summerside Rd Cincinnati Value-Add Multifamily
Neighborhood occupancy is exceptionally tight and renter demand is supported by stable suburban fundamentals, according to WDSuite’s CRE market data. For investors, the focus here is on steady leasing potential with room to modernize 1980-vintage units for competitive positioning.
Positioned in an Inner Suburb of the Cincinnati, OH-KY-IN metro, the neighborhood carries a B rating and ranks 257 out of 611 metro neighborhoods, placing it above the metro median. Leasing conditions are notably strong: neighborhood occupancy is reported at 100% with gains over the last five years, landing among the strongest outcomes nationally. These figures reflect neighborhood conditions, not the property, but they point to durable tenant demand and potential occupancy stability.
The area’s housing and demographic fundamentals compare well locally. Housing metrics are competitive among Cincinnati neighborhoods (ranks in the better third of the metro), and demographic indicators are similarly competitive, signaling a steady renter pipeline. Median contract rents in the neighborhood sit around the middle of national distributions, and the rent-to-income ratio near the national midpoint suggests manageable affordability pressure that can support retention and measured rent growth.
Vintage context matters for underwriting. The neighborhood’s average construction year is 1991. With the subject built in 1980, investors should plan for capital improvements and value-add updates to keep units competitive against slightly newer local stock while targeting enhancements that improve durability and tenant appeal.
Within a 3-mile radius, demographics show a stable to expanding renter base over time. Household counts have risen recently and forecasts point to further growth, while smaller average household sizes indicate more households per capita — conditions that typically support multifamily absorption. Median household incomes in the 3-mile radius are rising, which can underpin rent levels and occupancy stability. Amenities immediately within the neighborhood are limited, but broader east-side access to jobs and services helps sustain day-to-day livability for renters.
Comparable safety data for this neighborhood were not available in the provided dataset. Investors commonly benchmark neighborhood safety against Cincinnati metro norms and trend lines when underwriting retention risk and insurance assumptions. Consider pairing local police reports and third-party datasets with on-the-ground observations during diligence to contextualize resident experience and potential operating impacts.
Proximity to major corporate offices supports a broad commuter tenant base and can aid leasing stability. Key employers within a roughly 10–12 mile radius include Kroger DCIC, Humana, Procter & Gamble, Western & Southern Financial Group, and American Financial Group.
- Kroger DCIC — corporate offices (10.6 miles)
- Humana — healthcare & insurance offices (11.2 miles)
- Procter & Gamble — consumer goods (11.6 miles) — HQ
- Western & Southern Financial Group — financial services (11.6 miles) — HQ
- American Financial Group — financial services (11.7 miles) — HQ
The investment case centers on tight neighborhood occupancy and a moderate renter-occupied share that together point to demand depth with room to upgrade an older asset. Based on commercial real estate analysis from WDSuite, this neighborhood posts exceptionally high occupancy levels and steady rent positioning versus national medians, supporting an underwriting stance focused on stable tenancy rather than outsized lease-up risk. With a 1980 construction year, the asset is older than the neighborhood’s average vintage, creating a practical path for value-add renovations and systems modernization to strengthen competitive standing against 1990s-era stock.
Within a 3-mile radius, forecasts indicate increases in households and rising incomes, which typically support renter pool expansion and occupancy stability. Median home values in the neighborhood are moderate for the region, which can introduce some competition from ownership, but the rent-to-income profile suggests manageable affordability pressure — a backdrop that can aid retention with thoughtful lease management. Neighborhood NOI per unit levels are modest versus national peers, so disciplined expense control and targeted upgrades will be important to realize returns.
- Exceptionally tight neighborhood occupancy supports stability in underwriting
- 1980 vintage offers value-add and modernization potential versus 1990s local stock
- 3-mile radius outlook shows household and income growth supporting renter demand
- Moderate rent-to-income dynamics can aid retention with prudent lease management
- Risks: limited immediate amenities and modest neighborhood NOI levels require disciplined capex and expense control